Techmeme
February 11, 2023, 3:20 PM

Top News

Bloomberg:
Source: PayPal is pausing work on its stablecoin as regulators increase their scrutiny of cryptocurrencies and its key partner Paxos faces a probe in New York  —  PayPal Holdings Inc. is pausing work on its stablecoin as regulators increase scrutiny of cryptocurrencies and a key partner …
Jonathan Greig / The Record:
The City of Oakland confirms reports of a ransomware attack on its networks but says 911, financial data, and fire and emergency resources were not impacted  —  The City of Oakland confirmed reports that its networks had been hit with ransomware after rumors emerged online that several agencies …
Charlotte Van Campenhout / Reuters:
An advertising joint venture by Deutsche Telekom, Orange, Telefonica, and Vodafone to rival Meta and Google wins unconditional EU antitrust approval  —  Deutsche Telekom (DTEGn.DE), Orange (ORAN.PA), Telefonica (TEF.MC) and Vodafone (VOD.L) on Friday secured unconditional EU antitrust approval …
Kevin McLaughlin / The Information:
Source: Microsoft shut its Industrial Metaverse Core team, formed in October 2022 to build tools for industrial settings, and laid off the team's ~100 employees  —  In a surprising reversal, Microsoft has killed a team it formed four months ago to help customers use the metaverse in industrial settings …
Dina Bass / Bloomberg:
Benedict Evans:
A 2023 overview of macro tech trends, focusing on the e-commerce slowdown, layoffs, Amazon, advertising, and generative AI opportunities beyond text and images  —  Presentations Every year, I produce a big presentation exploring macro and strategic trends in the tech industry.  This year, ‘The New Gatekeepers’.
Chris Stokel-Walker / Fast Company:
Former staff say Twitter needs to update its systems to enact Elon Musk's asks, but the mass layoffs have brought code freezes and vast concurrent code changes  —  Twitter's outage on Wednesday, which saw the site rendered unusable for most users by blocking people from tweeting within the app …

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Financial Times:
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Earlier Picks

Lauren Feiner / CNBC: