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May 26, 2022, 7:50 PM
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memeorandum
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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, 9to5Mac, PCMag, Crowdfund Insider, HART Research Associates, MacDailyNews, MacRumors, and AppleInsider
Tweets: @adamkovac, @lutherlowe, @lutherlowe, @neil_chilson, @evan_greer, @evan_greer, @evan_greer, @fightfortheftr, @fightfortheftr, @adamkovac, @chrisj_lewis, @sachalouise, @sachalouise, @matthewstoller, @karlbode, @timsweeneyepic, @birnbaum_e, @zacharyleelee, @tomhebertdc, @pathedger18, @lamiasdottir, @demandprogress, @adamcancryn, @sachalouise, @adamcancryn, @matthewstoller, @jowens510, @senatorshoshana, @tomhebertdc, @reckless, @mpetricone, @matthewstoller, @johndavisson, @adamcancryn, @halsinger, 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:
9to5Mac, Tom Kemp's Blog, and The Mac Observer
| 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:
Broadcom Inc.. More:
CNBC, Wall Street Journal, The Verge, New York Times, Silicon Republic, Associated Press, VentureBeat, TechCrunch, Bank Automation News, Protocol, Axios, The Economic Times, Ars Technica, Telecoms.com, Light Reading, Network World, RCR Wireless News, San Francisco Business Journal, PCMag, ComputerWeekly.com, BetaNews, Financial Times, iClarified, HotHardware.com News, The Register, Protocol, AppleInsider, Financial Times, Bloomberg, Barron's Online, and Phoronix
Tweets: @film_girl, @jordannovet, @kristinaparts, @film_girl, @jonerlichman, @arekfurt, @ctoadvisor, @dillten, and @geoffblaber
| 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.
More:
Nikkei Asia, The Verge, AppleInsider, CNET, MacRumors, PhoneArena, The Mac Observer, MacDailyNews, Computerworld, 9to5Mac, iPhone in Canada Blog, Fossbytes, Patently Apple, Barron's Online, and iMore
Tweets: @detroitborg, @zollotech, and @lisaabramowicz1
| 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.| 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:
Wall Street Journal, Seattle Business Journal, Computerworld, Protocol, CNBC, Windows Central, Thurrott, GeekWire, OnMSFT.com, and Slashdot. Tweets: @dinabass
| 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, PYMNTS.com, Developer Tech News, iMore, Protocol, AppleInsider, iMore, iMore, and MacRumors
Tweets: @mr_isaacs, @bergmayer, @ricmac, @thedeadlyray, @dontyler, @daphnehk, @caseynewton, @volkring, @tim, @pt, @aledonetti, @johnkoetsier, @9to5mac, @sub8u, @1br0wn, @ricmac, and @alexstlouis10
| 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.
More:
tether.to, Crypto Briefing, Cointelegraph, Market Meditations, CoinDesk, Bitcoin News, Decrypt, and Waivly
| 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 …
More:
Bolt, Protocol, New York Times, The Economic Times, Market Intelligence, Fortune, and Crunchbase News
Tweets: @kuruvillamaju, @courtenay_brown, @hhariri, @emilyrpeck, @tomaxwell, @matteing, @theryanford, @lizette_chapman, and @danprimack
| 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 they said they 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.| 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, @hharrisemea, @retogregori, @mark_dow, @mpelletiercio, @jessefelder, @revshark, and @thestalwart
| 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:
Terra Money, The Block, Gate.io, Crypto Adventure, BeInCrypto, and Cointelegraph
| Drew Harwell / Washington Post: |
Human Rights Watch finds 89% of 164 remote learning apps and sites used during the pandemic in 49 countries shared student data with marketers and data brokers — The educational tools used by students during the pandemic shared their information with advertisers and data brokers that could track … | Lora Kolodny / CNBC: |
A Twitter shareholder sues Elon Musk and Twitter over the handling of the acquisition and says 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.| 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
| 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, The Verge, 9to5Google, Gizmodo, Engadget, Game Developer, 9to5Toys, Forbes, iPhone in Canada Blog, Gameranx, PCMag, Engadget, and TheGamer. Tweets: @tomwarren
| FinSMEs: |
Los Angeles-based BuildOps, which makes all-in-one management software for commercial contractors, raises a $43M Series A led by Next47 — BuildOps, a Los Angeles, CA-based all-in-one management software built specifically for the modern commercial contractor, raised $43 million in Series A funding.| 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 …
More:
CNBC, CNET, Ars Technica, Seattle Business Journal, CBS News, PCMag, Barron's Online, TechSpot, The Mac Observer, Cult of Mac, Protocol, The Verge, New York Post, Reuters, iThinkDifferent, 9to5Mac, WRAL TechWire, Gizmodo, Engadget, Financial Times, Fortune, Insider, and iMore
Tweets: @moreperfectus, @mikeisaac, @carnage4life, @greenhousenyt, @rationalwalk, @mikeisaac, @cherthedev, @josephnsanberg, @pkafka, @jasoncross00, @timkhiggins, @acoreunion, @alexspeidel, @applelaborers, @zoeschiffer, @bradbrovino, @gotbizintros, @fruitstoreninja, @ashleygjovik, @techwontsaveus, @collindonnell, and @markgurman
| 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).| Brody Ford / Bloomberg: |
Dell reports Q1 revenue up 16% YoY to $26.1B, vs. $25B est., commercial PC revenue up 22% YoY to $12B, and net income up 62% YoY to $1.07B; stock jumps 5%+ — Dell Technologies Inc. reported quarterly revenue that topped analysts estimates on strong demand for business PCs and networking services … Sponsor Posts
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UiPath:
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IDrive:
Protecting your Cloud Applications Data — Backing up Office 365, Google Workspace, Dropbox & Box data is critical to preventing data loss or corruption, complying with laws and avoiding critical downtime in case of a disaster.
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