Techmeme
July 26, 2022, 7:05 PM

Top News

Ashley Capoot / CNBC:
Responding to criticism, Adam Mosseri says Instagram's full-screen feed is “a test” that is “not yet good” and that the app has to lean into the shift to video  —  - Instagram head Adam Mosseri shared a video on Twitter Tuesday explaining recent changes to the social media platform.
Travis Clark / Insider:
Scott Rosenberg / Axios:
Microsoft - Investor Relations:
Microsoft reports Q4 revenue up 12% YoY to $51.87B, net income up 2% YoY to $16.7B, Azure up 40% YoY, LinkedIn up 26% YoY, Surface up 10% YoY, and Xbox down 6%  —  REDMOND, Wash. — July 26, 2022 — Microsoft Corp. today announced the following results for the quarter ended June 30, 2022 …
Ian Hamilton / UploadVR:
Meta plans to increase the prices of its Quest 2 headsets to $400 for 128GB and $500 for 256GB on August 1, and bundle Beat Saber for free through December 31  —  The price for a new Quest 2 is jumping to $399 as Meta says “the costs to make and ship our products have been on the rise.”
Alphabet - Investor Relations:
Alphabet reports Q2 revenue up 13% YoY to $69.69B, net income of $16B, down from $18.53B YoY, and Google Cloud revenue of $6.28B, up from $4.63B YoY  —  MOUNTAIN VIEW, Calif. - July 26, 2022 - Alphabet Inc. (NASDAQ: GOOG, GOOGL) today announced financial results for the quarter ended June 30, 2022.
Vipal Monga / Wall Street Journal:
Memo: Shopify plans to cut ~1,000 workers, or 10% of its global workforce, citing consumers pulling back on online shopping; SHOP drops 15%+  —  CEO Tobi Lütke says company made wrong bet on pandemic-fueled boom in e-commerce growth lasting  —  Shopify Inc. SHOP -16.29%▼ …
New York Times:
Sources: the US Treasury Department has been investigating US-based crypto exchange Kraken since 2019 for potentially violating US sanctions on Iran and more  —  The Treasury Department is investigating whether the crypto exchange allowed users in Iran to buy and sell digital tokens, said people with knowledge of the matter.
The Verge:
As Mark Zuckerberg says “there are probably a bunch of people at the company who shouldn't be here” during a weekly Meta Q&A, a survey suggests staff anxiety  —  As Meta's growth slows, Mark Zuckerberg is pushing even harder.  Will his employees melt under the pressure?
Bloomberg:
Sources: before its probe into alleged insider trading, the SEC started probing whether Coinbase improperly let Americans trade digital assets; stock drops 21%+  —  Coinbase Global Inc. is facing a US probe into whether it improperly let Americans trade digital assets that should have been registered …
Max Chafkin / Bloomberg:
Jesse Hamilton / CoinDesk:
Senators Toomey and Sinema introduce a bill to exempt crypto users from being taxed on transactions of under $50, similar to a bipartisan bill in the House  —  The top Republican on the Senate Banking Committee joined Democrat Kyrsten Sinema in legislation to exempt transactions of less than $50.
Liron Shapira / @liron:
[Thread] A look at Helium, a crypto network of 500K+ IoT hotspots, which raised $365M from a16z and others and generates an est. $6.5K/month in network revenue  —  .@Helium, often cited as one of the best examples of a Web3 use case, has received $365M of investment led by @a16z. Regular folks have also been convinced to spend $250M buying hotspot nodes, in hopes of earning passive income. The result? Helium's total revenue is $6.5k/month https://twitter.com/...
Emily Baker-White / BuzzFeed News:
Four former ByteDance employees say the company promoted pro-China content to Americans in its now-defunct news app TopBuzz; ByteDance denies the claims  —  Former employees claim the company placed pieces of pro-China content in its now-defunct US news app, TopBuzz, and censored negative stories about the Chinese government.
Kyle Wiggers / TechCrunch:
Neon, which provides developers with a serverless option for Postgres databases, has raised a $30M Series A-1 led by GGV, bringing its total funding to $55M  —  Neon, a startup providing developers with a serverless option for Postgres databases, today announced that it raised $30 million …
More: Going Long and FinSMEs
Bloomberg:
The UK's CMA publishes its music streaming report, saying the market being dominated by a handful of major players is not “currently causing consumers harm”  —  The music streaming market dominated by a handful of major players is giving consumers a fair shake …

Sponsor Posts

Meta:
Open Source AI: Available to all, not just the few  —  Meta's open source AI enables small businesses, start-ups, students, researchers and more to download and build with our models at no cost.
Tribe AI:
Build AI products that matter  —  Tribe AI helps organizations rapidly deploy AI solutions that have real business impact.  We bring together world class AI talent and tooling to drive differentiated results.
Zoho:
Passkeys Week for a passwordless future: Learn how Zoho is embracing passkeys  —  Passkeys are the modern-day alternative authentication method that was introduced to replace traditional passwords for enhanced security and convenience.
Hamming:
Make AI Voice Agents trustworthy  —  Hamming AI automatically tests AI voice agents and continuously monitors them in production.
Techmeme Ride Home:
Mon. 11/18 - More Smartglasses On The Horizon
The day's tech news, every day at 5pm ET. Fifteen minutes and you're up to date.
Subscribe via Apple Podcasts, Spotify, or RSS.
 

About This Page

This is a Techmeme archive page. It shows how the site appeared at 7:05 PM ET, July 26, 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.

More News

Kadhim Shubber / Financial Times:

Earlier Picks

Jeffrey Dastin / Reuters: