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May 27, 2022, 12:00 AM
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| Politico: |
Sources: a bipartisan bill that would ban Big Tech companies from favoring their products faces resistance from some Senate Democrats worried about the midterms — A bipartisan legislative effort to rein in the nation's largest tech companies is facing fresh resistance from a faction …
More:
klobuchar.senate.gov, MacDailyNews, Taxpayers Protection Alliance, 9to5Mac, MacRumors, HART Research Associates, Crowdfund Insider, PCMag, and AppleInsider
Tweets: @adamkovac, @protectaxpayers, @actonline, @lutherlowe, @lutherlowe, @timsweeneyepic, @timsweeneyepic, @karlbode, @timsweeneyepic, @birnbaum_e, @zacharyleelee, @fightfortheftr, @sachalouise, @timsweeneyepic, @evan_greer, @neil_chilson, @tomhebertdc, @timsweeneyepic, @pathedger18, @timsweeneyepic, @timsweeneyepic, @lamiasdottir, @netchoice, @progresschamber, @matthewstoller, @demandprogress, @adamcancryn, @adamkovac, @sachalouise, @adamcancryn, @matthewstoller, @adamkovac, @fightfortheftr, @jowens510, @senatorshoshana, @tomhebertdc, @evan_greer, @reckless, @mpetricone, @matthewstoller, @johndavisson, @adamcancryn, @halsinger, @sachalouise, @chrisj_lewis, @evan_greer, @rsi, and @nealkwatra
| The Markup: |
An investigation finds Apple, Meta, Amazon, Google, and Microsoft have launched a coordinated campaign in 31 states against data privacy legislation since 2021 — Coordinated industry lobbying is overwhelming the scattered efforts of consumer groups and privacy-minded lawmakers
More:
Tom Kemp's Blog, 9to5Mac, and The Mac Observer
| Yogita Khatri / The Block: |
Tether enters Latin America by launching the MXNT stablecoin, pegged to the Mexican peso, initially available on the Ethereum, Tron, and Polygon blockchains — Quick Take — Tether has launched a new stablecoin pegged 1:1 to the Mexican peso. — It will be initially available on Ethereum, Tron and Polygon.
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tether.to, Benzinga, PYMNTS.com, Market Meditations, Bitcoin News, CoinDesk, Cointelegraph, Crypto Briefing, Decrypt, Waivly, and CryptoPotato
| Chavi Mehta / Reuters: |
Broadcom offers to acquire VMware for ~$61B in cash and stock, paying $142.50 per share, a nearly 49% premium, and will assume VMware's $8B in net debt — May 26 (Reuters) - Broadcom Inc (AVGO.O) said on Thursday it will buy cloud service provider VMware Inc (VMW.N) in a $61 billion cash …
Source:
PR Newswire. More:
CNBC, Wall Street Journal, The Verge, Bloomberg, The Register, Associated Press, New York Times, Silicon Republic, VentureBeat, TechCrunch, Bank Automation News, Axios, Protocol, Ars Technica, Telecoms.com, RCR Wireless News, PCMag, Financial Times, HotHardware.com News, ComputerWeekly.com, iClarified, AppleInsider, San Francisco Business Journal, BetaNews, Network World, Protocol, Financial Times, Barron's Online, Phoronix, and CNET
Tweets: @ctoadvisor, @film_girl, @jordannovet, @kristinaparts, @film_girl, @jonerlichman, @arekfurt, @ctoadvisor, @dillten, and @geoffblaber
| Lora Kolodny / CNBC: |
A Twitter shareholder sues Elon Musk and Twitter over the handling of the acquisition, saying Musk engaged “in conduct designed to create doubt about the deal” — - Since Musk's acquisition bid, Twitter's share price has dropped more than 12%, and Tesla's is down about 28% as part of a broad sell-off in tech stocks.| Benjamin Mullin / New York Times: |
Sources: Substack dropped efforts to raise money, after talks to raise $75M-$100M at a $750M-$1B valuation, during which the company said 2021 revenue was ~$9M — Amid an industrywide downturn, venture investors are preaching austerity and halting new deals, particularly for companies that have spent aggressively on growth.
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TechCrunch. Tweets: @benmullin, @joy, @pt, @riddle245, @film_girl, @kateclarktweets, @longshorttrader, @gaberivera, @tysonbrody, @chaykak, @tomaxwell, @caleweissman, @fmanjoo, @carnage4life, @barbariancap, @pkafka, @jackmarshall, and @suldrew
| Dina Bass / Bloomberg: |
Microsoft plans to slow hiring in Windows, Office, and Teams groups, citing a need to realign staffing priorities; EVP Rajesh Jha must approve all new hires — Microsoft Corp. will slow hiring in its Windows, Office and Teams chat and conferencing software groups, citing a need …
More:
Protocol, Wall Street Journal, CNBC, Windows Central, Computerworld, Thurrott, Seattle Business Journal, GeekWire, OnMSFT.com, and Slashdot. Tweets: @dinabass
| Kyle Alspach / Protocol: |
Cloud security startup Lacework, which employed 1,000+ in March 2022, lays off 20% of its workforce; Lacework has raised $1.85B including $1.3B in November 2021 — A well-funded startup in the cybersecurity industry, Lacework, has become the latest tech firm to disclose a major round …
More:
Lacework, SecurityWeek, iTech Post, CRN, SiliconANGLE, Silicon Valley Business …, Beyond Search, govinfosecurity.com, Dark Reading, and Channel Futures
Tweets: @gergelyorosz, @ashwinv800, @narmacnetworth, @sweis, @coffeecraftcode, @endingwithali, @kylealspach, @petecheslock, @sawaba, and @riddle245
| Alex Konrad / Forbes: |
A profile of Stripe co-founders John and Patrick Collison; sources: Stripe gross revenue rose 60% YoY to nearly $12B in 2021 as net revenue reached almost $2.5B — Billionaire brothers John and Patrick Collison built Stripe into one of the world's most-hyped, highest valued — and profitable! — startups, worth some $95 billion.| Dan Primack / Axios: |
Bolt Financial laid off 185 employees, or about one-third of its workforce; some have to repay loans they took from the company for vested shares within 90 days — One-click checkout company Bolt Financial yesterday laid off 185 employees, or approximately one-third of its workforce …
More:
Bolt, Fortune, Protocol, Crunchbase News, New York Times, Market Intelligence, The Economic Times, Tech in Asia, PYMNTS.com, Forbes, New York Post, San Francisco Business Journal, City A.M., and Axios
Tweets: @courtenay_brown, @yoda, @emilyrpeck, @tomaxwell, @matteing, @theryanford, @lizette_chapman, @danprimack, @hhariri, and @kuruvillamaju
| Sam Nussey / Reuters: |
Sony plans to ramp up PlayStation 5 production as supply chain issues ease, and a radical broadening of its game portfolio, including more PC and mobile titles — Sony Group Corp (6758.T) said it plans to ramp up production of its PlayStation 5 console as supply chain snarls ease and signalled …
More:
Video Games Chronicle, The Verge, Video Games Chronicle, 9to5Google, Game Developer, The Verge, Gizmodo, Bloomberg, SlashGear, Engadget, iPhone in Canada Blog, Gameranx, PCMag, Engadget, and TheGamer
Tweets: @tomwarren and @bruceqburke
| Michael Tobin / Bloomberg: |
Instacart plans to slow hiring as it prepares for its IPO, after hiring over 1,500 staff in 2021; Instacart cut its valuation by 40% to $24B in March 2022 — Grocery delivery startup Instacart Inc. is planning to slow the pace of hiring as it prepares for an initial public offering, focusing instead on profitability.
More:
New York Post
| Washington Post: |
Young gunmen are using private and disappearing messages in apps like Snapchat, Instagram, Discord, and Yubo to share violent plans, evading content moderation — Private messaging apps are harder to scan for warning signs of potential violence, experts say| Ingrid Lunden / TechCrunch: |
Poland-based Nomagic, which makes pick-and-place warehouse robots, raises a $22M Series A led by Khosla Ventures, Almaz Capital, and European Investment Bank — Robotics are playing a growing role in the world of e-commerce logistics and fulfillment — where they are seen not just as a way to speed …
More:
The Robot Report and Tech.eu
| Devin Coldewey / TechCrunch: |
New York-based Parallel Learning, a telehealth service focused on students with learning challenges, raises a $20M Series A led by Tiger Global — If a kid is having trouble at school, one of the standard steps is to schedule an assessment for conditions like dyslexia, ADHD, or anything else that might require a special approach.| Bloomberg: |
The tech market collapse, aided by macroeconomic forces, is an opportunity to reckon with wildly inflated valuations, overpaid VCs, and crypto pyramid schemes — Over the past half-century, Silicon Valley has toggled between two similar-sounding pursuits that are often in conflict: wealth creation and moneymaking.
Tweets: @bradstone, @mikeisaac, @hharrisemea, @retogregori, @mark_dow, @mpelletiercio, @mikeisaac, @jessefelder, @pkafka, @revshark, and @thestalwart
| Isabela Fleischmann EN / Bloomberg Línea: |
Source: Brazilian e-commerce startup Vtex, which has an $820M market cap, cut ~200 jobs, or 13% of its workforce; Mexican crypto exchange Bitso cut 80+ staff — Bloomberg Línea — Latin American unicorns Vtex and Bitso laid off hundreds of employees on Thursday (May 26).| Patrick McGee / Financial Times: |
Q&A with Epic CEO Tim Sweeney on creating the metaverse, Unreal Engine's role, Apple's and Google's app store monopolies, Meta's metaverse investment, and more — Online game Fortnite is arguably the closest thing to the metaverse that exists today. Some 70mn gamers immerse themselves …
More:
TechCrunch, 9to5Mac, Developer Tech News, Protocol, PYMNTS.com, iMore, AppleInsider, Slashdot, iMore, iMore, and MacRumors
Tweets: @neilcybart, @caseynewton, @pt, @samifathi_, @dontyler, @tim, @volkring, @pt, @daphnehk, @mr_isaacs, @bergmayer, @ricmac, @johnkoetsier, @9to5mac, @sub8u, @1br0wn, @ricmac, @thedeadlyray, @alexstlouis10, and @aledonetti
| Sujith Somraaj / Decrypt: |
Binance, FTX, Crypto.com, Huobi, Bitfinex, Kucoin, and other exchanges pledge support for Do Kwon's Terra 2.0, set to launch on May 27 by airdropping tokens — Cryptocurrency exchanges have pledged support to Terra's upcoming relaunch, following the passing of a proposal to launch a new blockchain.
More:
The Daily Moon, Gate.io, CoinGape, Crypto Adventure, BeInCrypto, and Cointelegraph
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Tweets: @thejusticedept, @bashco_, @janschakowsky, @matthew_d_green, @adam_k_levin, @jimmypatronis, @can, @ewa_jodlowska, @wbm312, @b_fung, and @profcarroll