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May 26, 2022, 5:25 PM
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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 …
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.
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 …
Debby Wu / Bloomberg:
Sources: Apple plans to keep iPhone production in 2022 at ~220M, about the same as 2021, compared to ~240M market forecasts, amid inflation and a tough market  —  Apple Inc. is planning to keep iPhone production roughly flat in 2022, a conservative stance as the year turns increasingly challenging for the smartphone industry.
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 …
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 …
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 …
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.
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.
Benjamin Mullin / New York Times:
Sources: Substack dropped efforts to raise money, after talks to raise $75M to $100M at a $750M to $1B valuation, and told investors it had ~$9M revenue in 2021  —  Amid an industrywide downturn, venture investors are preaching austerity and halting new deals, particularly for companies that have spent aggressively on growth.
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 …
Politico:
Sources: a bipartisan bill that would stop platforms from favoring their own products is facing 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 …
Drew Harwell / Washington Post:
Analysis of 164 remote learning apps and sites used in 49 countries during the pandemic finds ~90% shared student data with ad tech companies and data brokers  —  The educational tools used by students during the pandemic shared their information with advertisers and data brokers that could track …
Source: Human Rights Watch.  More: 9to5Mac, CNN, and Protocol
Tweets: @walterkirn, @hrw, and @hrw
Tim Higgins / Wall Street Journal:
Apple plans to bump US hourly workers' pay to $22+ per hour, up 45% from 2018, amid inflation and unionization pushes; US starting salaries are also set to rise  —  The iPhone maker faces store unionization attempts, higher inflation  —  Apple Inc. AAPL .11%▲ is boosting pay …
The Markup:
An investigation finds Apple, Meta, Amazon, Google, and Microsoft have launched coordinated campaigns in 31 states against data privacy legislation since 2021  —  Coordinated industry lobbying is overwhelming the scattered efforts of consumer groups and privacy-minded lawmakers
Ashley Stewart / Insider:
Interviews with former and current Microsoft employees suggest a widespread pattern of executive misconduct persists, years after Satya Nadella vowed to end it  —  The Microsoft executive walked into the small, windowless room in Studio C at about 8 o'clock that evening.
Jonathan Browning / Bloomberg:
The UK's CMA opens an investigation into whether Google abused its dominant position in ad tech to illegally favor its ad exchange services and exclude rivals  —  The UK's antitrust watchdog started a new investigation of Alphabet Inc.'s Google, over suspicions it may have abused …
Peter Grant / Wall Street Journal:
Some hotels look to guarantee reservations revenue by partnering with startups like Pinktada that convert stays into NFTs, which guests can buy and sell  —  NFTs also are being used to raise capital to buy golf courses or land, giving token buyers a stake in the projects
Steve Dent / Engadget:
Oura debuts the Gucci x Oura Ring wearable with its Generation 3 tech to monitor live heart rate, sleep, activity, and more, available in select stores for $950  —  Oura, the startup that's pushing the limits of how small a wearable can be, just announced a collaboration that could boost its profile considerably.

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This is a Techmeme archive page. It shows how the site appeared at 5:25 PM ET, May 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.

From Mediagazer

Peter White / Deadline:
Fox and Hulu extend their content partnership, including in-season streaming rights for Fox's programming; sources: the deal is worth $1.5B over four years

Peter Kafka / Business Insider:
A Q&A with Chris Balfe, CEO of Red Seat Ventures, which has helped Tucker Carlson and Megyn Kelly set up their podcast and streaming businesses and sell ads

Jonathan Stempel / Reuters:
A New York judge finds Sirius XM liable for a difficult subscription cancellation process; Sirius says it will appeal but abide by a new “click-to-cancel” rule

More News

Earlier Picks

Diane Bartz / Reuters:
Twitter agrees to pay $150M to the FTC, settling allegations that it misrepresented the “security and privacy” of user data between May 2013 and September 2019
CNBC:
Filing: Elon Musk plans to provide an additional $6.25B in equity financing for his Twitter buyout, boosting his commitment to $33.5B; Twitter's stock rises 5%+
Hannah Murphy / Financial Times:
Andreessen Horowitz announces a $4.5B crypto fund, its fourth and largest so far, allocating about $1.5B for seed investments and $3B for venture investments
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