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July 5, 2022, 4:30 PM
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Top News

Foo Yun Chee / Reuters:
EU lawmakers pass the Digital Services Act and the Digital Markets Act, seeking to regulate US tech giants, but limited resources could hamstring enforcement  —  EU lawmakers gave the thumbs up on Tuesday to landmark rules to rein in the power of tech giants such as Alphabet (GOOGL.O) …
Ryan Browne / CNBC:
Nexo, a crypto lender managing assets for ~4M users, says it signed a term sheet to explore buying Vauld, which halted withdrawals and manages assets for ~100K  —  - Nexo has signed a term sheet with Vauld giving it 60 days of exclusive talks to explore an all-equity acquisition of the company.
Munsif Vengattil / Reuters:
Source: Twitter is seeking to overturn some Indian government content takedown orders through a judicial review, alleging abuse of power by officials  —  Twitter is seeking to overturn some Indian government orders to take down content, a source familiar with the matter said …
Juro Osawa / The Information:
Sources: Sequoia Capital China is about to raise $9B for four new funds, above its $8B+ target, the largest amount raised by a single China tech-focused VC firm  —  Sequoia Capital's Chinese affiliate is about to close $9 billion in fresh capital for four new funds, higher than its original target …
Cristina Criddle / Financial Times:
Sources: TikTok abandons plans to expand its TikTok Shop live e-commerce program to Europe and the US, after internal problems and a lack of traction in the UK  —  Chinese-owned social media platform's foray into livestream shopping in the UK has struggled to gain traction
Lucas Shaw / Bloomberg:
Netflix, Amazon, Warner Bros., and others cut costs, staff, movies, and TV shows; the industry released 559 scripted shows in 2021, up by 200+ compared to 2013  —  The sudden decline in Netflix's share price and the growing fear of a recession have forced Hollywood into a new period of fiscal austerity.
Sarah Zheng / Bloomberg:
An unidentified hacker on a forum is selling 23TB+ of allegedly stolen data on up to 1B Chinese residents for 10 BTC, after breaching a Shanghai police database
Taylor Nicole Rogers / Financial Times:
Survey: 25% of Black American investors owned crypto at the start of 2022, compared to 15% of white investors, leaving them vulnerable during the downturn  —  Higher exposure to digital assets leaves owners vulnerable to downturn  —  The widespread losses caused by the cryptocurrency crash are even broader among black investors.
Bloomberg:
How Ukraine's Kyivstar mobile network stays operational during Russia's invasion, despite killed employees, seized infrastructure, and relentless cyberattacks  —  Employees killed and displaced, infrastructure seized by force and relentless cyberattacks are only a few of the challenges …

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About This Page

This is a Techmeme archive page. It shows how the site appeared at 4:30 PM ET, July 5, 2022.

The most current version of the site as always is available at our home page. To view an earlier snapshot click here and then modify the date indicated.

From Mediagazer

David Folkenflik / NPR:
NPR and three Colorado public radio stations sue Trump, saying his executive order to cut federal funding violated the US Constitution and the First Amendment

Bloomberg:
Filing: Tencent is buying a ~10% stake in SM Entertainment for ~$180M from BTS agency Hybe, as China is expected to lift its unofficial ban on K-pop concerts

Dominic Ponsford / Press Gazette:
Docs: The Guardian reports revenue up 6.7% YoY to £275M in the year to March 2025, losses down to <£25M, digital revenue up 20%+ YoY to £100M+, and 1.3M subs

More News

Paul MacInnes / The Guardian:
FIFA plans to introduce semi-automated offside technology at the 2022 World Cup with a custom soccer ball and 12 cameras to track 29 points on players' bodies

Earlier Picks

Richard Lai / Engadget:
Xiaomi debuts the 12S Ultra smartphone with a 6.73" AMOLED screen and three rear cameras, including a 50.3MP main camera with a 1-inch sensor, starting at ~$900
Sergiu Gatlan / BleepingComputer:
Google updates Chrome for Windows to address a high-severity zero-day vulnerability exploited by attackers in the wild, its fourth Chrome zero-day patch in 2022
Jane Clinton / The Guardian:
The British Army is investigating “a breach” of its Twitter and YouTube accounts, which on July 3 shared crypto scams and misinformation before being restored
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