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April 3, 2025, 10:00 AM
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memeorandum
WeSmirchTop News
| Kif Leswing / CNBC: |
Tech stocks fall after President Trump announced new global tariffs: Meta drops as much as ~8%, Amazon drops ~7%, Nvidia ~5%, Alphabet ~4%, and Microsoft ~3% — Apple slid more than 6% in late trading Wednesday and led a broader decline in tech stocks after President Donald Trump announced …
More: The White House, ZDNET, Kotaku, New York Times, Wall Street Pit, Fortune, Coinpedia Fintech News, Verdict, Cointelegraph, Quartz, Bloomberg, CBS News, The Register, 19FortyFive, Polymarket, The Hill, Channel News, PCMag, The Verge, TipRanks Financial, Tech in Asia, NBC News, United States Trade …, and Watcher Guru
Bluesky: @carnage4life. X: @atrupar, @trumpdailyposts, @jamessurowiecki, @rabois, @saylor, @thestalwart, @micah_erfan, @balajis, @typesfast, @cobie, @cobie, @billackman, @krishnanrohit, @typesfast, @alecstapp, @lhsummers, @jamesrbuk, @dkthomp, @jasonfurman, @ivanwerning, @rapidresponse47, @frances_coppola, @secretaryburgum, @dkthomp, @ivanwerning, @rapidresponse47, @d_a_irwin, @saikatc, @typesfast, @buccocapital, @cliffordasness, @elerianm, @gopmajoritywhip, @jbulltard1, @secscottbessent, @rapidresponse47, @alecstapp, @thestalwart, @repbrianbabin, @ivanwerning, @maxwinebach, @lhsummers, @rapidresponse47, @jbarro, @reprileymoore, @rapidresponse47, @armanddoma, @justinwolfers, @natesilver538, @palmerluckey, @dandrezner, @justinwolfers, @thestalwart, @rapidresponse47, @esaagar, @rapidresponse47, @stavridisj, @thestalwart, @mystephanomics, @sec_noem, @deanwball, @ustraderep, @macaesbruno, @thestalwart, @brazilbrian, @dampedspring, @speakerjohnson, @lhsummers, @atabarrok, @ramit, @typesfast, @rapidresponse47, @adamscochran, and @howardlutnick. LinkedIn: Jamie Tronnes
| Tripp Mickle / New York Times: |
Apple shares drop 7%+ after President Trump announced new tariffs, including 46% on Vietnam and 26% on India, where Apple has been moving production from China — The iPhone maker spent years trying to move production of some products out of China to avoid tariffs. But now that may not matter.
More: Bloomberg, Wired, 9to5Mac, UploadVR, Business Today, Barron's Online, Financial Times, Video Games Chronicle, Blockchain.News, New York Times, CNBC, Business Insider, ZeroHedge News, MEDIANAMA, Reuters, Bloomberg, The Verge, Silicon UK, Pajiba, Cryptopolitan, iPhone in Canada Blog, Bloomberg, Daily Mail, Analytics India Magazine, Yahoo Finance, Times of India, KED Global, PhoneArena, The Economic Times, Moneycontrol, Cult of Mac, Washington Post, Above Avalon, Financial Times, Jacobin, Wccftech, Fortune, MacRumors, Gamereactor UK, BBC, 9to5Mac, Reason, Politico, Broadband Communities, Tech in Asia, and AppleInsider
X: @thestalwart, @markgurman, @rogerentner, @tailosivetech, @paulg, @obrien, @markgurman, and @rogerentner
Forums: r/apple and r/geopolitics
| Spencer Soper / Bloomberg: |
The White House says de minimis tariff exemptions for up to $800 packages from China and Hong Kong will end on May 2, affecting marketplaces like Temu and Shein — De minimis tariff exemptions, which currently allow packages worth as much as $800 from China and Hong Kong to enter the US duty free …
More: The White House, The Information, Android Authority, Yahoo Finance, The Times, CNBC, Business Today, New York Post, Hong Kong Free Press HKFP, and Axios
X: @aaronandml, @aaronandml, @senbillcassidy, @dominicjpino, @typesfast, @nic__carter, and @senbillcassidy. Forums: r/TemuThings
| Kaya Yurieff / The Information: |
Source: President Trump plans to announce TikTok America, a company that is ~50% owned by US investors and 19.9% by ByteDance, which would license the algorithm — President Donald Trump plans to announce later on Wednesday his plan for a new company called TikTok America … | New York Times: |
Sources: Amazon has put in a bid to acquire all of TikTok, but various parties involved do not appear to be taking it seriously, ahead of the April 5 deadline — The e-commerce giant put in a last-minute offer for the popular video app, according to three people familiar with the talks.
More: Reuters, Washington Post, Bloomberg, BBC, Reuters, Raleigh News & Observer, PocketGamer.biz, Associated Press, TheGrio, KCRG-TV, Blavity News & Entertainment, Poynter, CNBC, GSMArena.com, RTTNews, TechSpot, Nairametrics, Blockhead, Digit, Oh No They Didn't!, Cryptopolitan, 80 Level, Music Business Worldwide, Blockonomi, Status, Decrypt, NBC News, Daily Mail, The Ankler, The Information, Android Headlines, Seattle Business Journal, Entrepreneur, USA Today, Tech in Asia, Investor's Business Daily, Neowin, Núcleo Jornalismo, Yahoo Finance, Forbes, Techdirt, Gamereactor UK, Washington Examiner, E! Online, SFist, KEYE, New York Times, and Financial Times
Bluesky: @ddayen, @joshuabenton.com, @sungkim, @karlbode.com, and @karaswisher
X: @drbarnard, @basedbeffjezos, @mabintou, @greg16676935420, @dennishegstad, @buffys, @artcandee, @munster_gene, @loudmouthjulia, @jkarl26, @tim_bays, @danprimack, and @maggienyt
LinkedIn: Lauren Hirsch, David Anderson, and Ramon Portilla
Forums: Hacker News, r/news, r/Hedera, r/CryptoCurrency, r/worldnews, r/technology, Beehaw, Slashdot, and MacRumors Forums
| Matt Levine / Bloomberg: |
Circle's S-1 shows that it is a fintech and that, as of December 31, 2024, ~85% of USDC reserves were in a BlackRock-managed money market fund only for Circle — Circle, slangy wealth management chatbots, private credit runs, SEC climate rules and OCC desk space.| The Information: |
Sources: Google is in advanced talks to rent Nvidia Blackwell chips from CoreWeave, highlighting how Nvidia customers are struggling with AI chip availability — Google is in advanced talks to rent state-of-the-art Nvidia Blackwell chips for running artificial intelligence from CoreWeave …
More: DatacenterDynamics, Benzinga, WinBuzzer, and TipRanks Financial
Bluesky: @carnage4life and @edzitron.com
| Sergiu Gatlan / BleepingComputer: |
Europol says German and Dutch authorities shut down Kidflix, a CSAM dark web streaming platform with 1.8M users between April 2022 and March 2025, on March 11 — Kidflix, one of the largest platforms used to host, share, and stream child sexual abuse material (CSAM) on the dark web … | Abner Li / 9to5Google: |
Google unveils a NotebookLM “Discover sources” feature, which searches the web and recommends up to 10 “relevant sources” for users to add to their notebooks — To date, NotebookLM works by having you manually add files and links, with Google now introducing a … | Bloomberg: |
Sources: Microsoft has halted talks for, or delayed development of, data center projects in Indonesia, the UK, Australia, Illinois, North Dakota, and Wisconsin — The software company has recently halted talks for, or delayed development of, sites in Indonesia, the UK, Australia, Illinois …
More: Cryptopolitan. Bluesky: @carnage4life. Mastodon: @GossiTheDog@cyberplace.social. X: @mackhawk. Forums: r/wallstreetbets
| Joey Roulette / Reuters: |
Amazon plans to launch the first 27 satellites for its Project Kuiper internet network on April 9, after launching two prototype satellites in October 2023 — Amazon.com said on Wednesday it plans to launch the first 27 satellites for its Project Kuiper internet network next week … | Madhumita Murgia / Financial Times: |
Q&A with Christopher Bishop on leading Microsoft's AI for Science lab, why scientific discovery will be AI's single most important application, and more — The AI for Science lab director discusses the technology's capability to accelerate time-consuming research| Sarah Perez / TechCrunch: |
Automattic lays off 16% of its staff, CEO Matt Mullenweg says to become “more agile and responsive”; ahead of the layoffs, its website listed 1,744 employees — Automattic, the company behind WordPress.com, Tumblr, WooCommerce, and a range of other online services, is reducing its workforce.
More: Automattic, The Verge, Silicon Republic, Ace of Spades HQ, Search Engine Journal, and Moneycontrol
Bluesky: @holman, @jcoglan, @chriswiegman.com, @stanb, and @ernie.tedium.co
Mastodon: @zachleat@fediverse … and @george@a2mi.social
X: @deviorobert, @pmusolino, @automattic, @cameronjonesweb, @nagpai, @richard_tabor, @renatoagds, and @ryancduff. LinkedIn: Paolo Musolino
Forums: r/technology and r/Wordpress
| Bloomberg: |
AI video startup Runway raised $308M led by General Atlantic, sources say at a $3B+ valuation, and plans to hire more filmmakers, screenwriters, and others — The deal, which is set to be announced Thursday, pushes Runway's value to just over $3 billion, according to people familiar … | Sam Reynolds / CoinDesk: |
Sources: Justin Sun bailed out Techteryx's TrueUSD after $456M in reserves, managed by First Digital, became illiquid; Techteryx says it was a victim of fraud — Justin Sun bailed out Techteryx's TrueUSD stablecoin after nearly half a billion dollars of its reserves were rendered illiquid …
More: Coinpedia Fintech News, CryptoPotato, and crypto.news
| Daniel Kuhn / The Block: |
More: CoinDesk, Cointelegraph, Benzinga, Bitcoin Insider, Blockchain.News, Protos, The Daily Hodl, NFTgators, and CoinGape
X: @byzgeneral and @adamscochran
| Samuel Stolton / Bloomberg: |
Sources: Ireland's DPC will fine TikTok €500M+ before the end of April for illegally shipping European users' data to China, after a lengthy GDPR investigation — The penalty is likely to be the third highest ever dished out by the Irish watchdog following earlier fines of €746 million …
More: Daily Star
| Andrew Webster / The Verge: |
Nintendo Switch 2 hands-on: larger than the Switch but not uncomfortable, flagship games show off the system well, and the Joy-Con's mouse-like mode is precise — The value proposition of the Nintendo Switch 2 may seem pretty clear, but it's much more obvious when you use one.| Financial Times: |
Plaid raised $575M at a $6.1B valuation, below its peak $13B+ valuation in 2021, mostly to cover employees' tax bills for those converting RSUs to common stock — Pioneer of open banking will use $575mn raised from BlackRock and others to cover employee taxes and share buybacks
More: This Week in Fintech, Finextra, CNBC, Axios, Fortune, TechCrunch, and Forbes
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