Crypto lender Genesis Global Capital files for Chapter 11 bankruptcy in New York, listing the estimated range for both assets and liabilities between $1B-$10B
Cryptocurrency lender Genesis Global Capital filed for bankruptcy, the latest firm to collapse in the aftermath of FTX's swift downfall.
Memo: Alphabet plans to cut around 12,000 jobs, more than 6% of its global workforce; Sundar Pichai says he takes “full responsibility” for the need to cut jobs
Google parent Alphabet Inc. said it will cut about 12,000 jobs, more than 6% of its global workforce …
SEC filing: T-Mobile says a hacker stole the data of ~37M customers, including names, addresses, and phone numbers, but not passwords, SSNs, or credit cards
T-Mobile US Inc. said a hacker obtained data for 37 million customer accounts, though it didn't include payment card information or personal identifying numbers.
Twitter quietly updates its developer agreement with a clause banning third-party clients, after claiming the company was “enforcing long-standing API rules”
In case there was any doubt about Twitter's intentions in cutting off the developers of third-party apps …
Netflix co-founder Reed Hastings steps down as co-CEO but plans to stay on as executive chair; the company promotes COO Greg Peters to co-CEO with Ted Sarandos
Streaming company names new leadership as it looks to reset after ‘tough year’ in 2022 — Reed Hastings is stepping …
Sources: Nintendo plans to increase production of its six-year-old Switch console in the coming fiscal year, starting in April 2023, as demand remains strong
Nintendo Co. plans to increase production of its six-year-old Switch console in the coming fiscal year after shipping roughly 21 …
Crypto lender Nexo agrees to pay $45M in penalties to settle SEC and US state charges for failing to register the offer and sale of its Earn Interest Product
- The SEC charged Nexo for failing to register the offer and sale of its crypto asset lending product, called the Earn Interest Product.
Netflix Q4: revenue up 1.9% YoY to $7.85B, $55M net income, down from $607M YoY, 231M paid memberships, adding 7.66M subscribers vs. 4.57M est.; stock is up 8%+
January 19, 2023 Fellow shareholders, Summary: ● Q4'22 revenue … Todd Spangler / Variety : Netflix Execs Talk Early Ad-Tier Results, ‘Glass Onion’ and Expected ‘Cancel Reaction’ From Paid Password-Sha...
Bankruptcy filing: Genesis Global owes more than $3.6B to its top 50 creditors, including $766M to Winklevoss' Gemini Trust Company
- Genesis Global filed for bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of New York. — In the filing, the company published a list of its top 50 unsecured claims.
Netflix plans to roll out paid password sharing “more broadly” in Q1 2023 and expects some “cancel reaction” before an improvement in overall company revenue
here's what we know Samantha Wiley / iLounge : Netflix broadens multiple household password sharing crackdown See also Mediagazer
A survey of 2,300+ game developers: 45% don't buy the promise of the metaverse, 53% support unionization, 91% say harassment by players is an issue, and more
Game developers are more skeptical of metaverse and blockchain projects, according to a new survey by the Game Developers Conference.
Sources: Google executives met with Larry Page and Sergey Brin last month to discuss Google's AI efforts, as the company seeks to combat OpenAI's ChatGPT
A rival chatbot has shaken Google out of its routine, with the founders who left three years ago re-engaging and more than 20 A.I. projects in the works.
Experts argue the TikTok ban by over two dozen US states is a reflection of government groupthink and an overreaction to an app officials don't fully understand
Drew Harwell / Washington Post :
Source: CNET owner Red Ventures has used AI tools like Wordsmith to write stories for at least a year and a half, causing unease amid layoffs and restructuring
Fake bylines. Content farming. Affiliate fees. What happens when private equity takes over a storied news site and milks it for clicks?
India releases rules on social media influencers and virtual avatars promoting products without disclosing payment, adding an up to ~$12.3K fine for violations
Jagmeet Singh / TechCrunch :
Canalys: Xiaomi shipments in India fell 40% YoY in Q4 2022 amid government scrutiny, falling behind Samsung and Vivo after being the top seller for 20 quarters
Chinese smartphone giant Xiaomi was dethroned in India for the first time in five years by Samsung Electronics and Vivo …
Ex-FTX US President Brett Harrison raised $5M for Architect, a new firm which will build crypto trading software for large investors, from Coinbase and others
Former FTX US President Brett Harrison has raised $5 million for a new crypto software startup from investors such as Coinbase Ventures …
On Friday, SCOTUS may discuss whether to hear two cases challenging social media laws in Texas and Florida and plans to hear two Section 230 cases in February
David McCabe / New York Times :
Wayfair lays off about 1,750 employees, or 10% of its staff, due to shrinking sales after the pandemic; the online furniture seller cut ~870 jobs in August 2022
Wall Street Journal :
The FAA says a contractor unintentionally deleted files used in a pilot-alert system while trying to sync a database and its backup, causing last week's outage
Wall Street Journal :
PayPal says hackers accessed the sensitive data of ~35K users, including addresses and social security numbers, in a December 2022 credential stuffing attack
how to avoid being next
Amazon plans to hike Music Unlimited's monthly prices by $1 and £1 to $10.99 and £10.99 in the US and UK on February 21, matching Apple Music's October increase
Billboard :
Bengaluru-based food delivery service Swiggy plans to cut 380 jobs; the startup raised $700M in January 2022 at a $10.7B valuation and employs ~6,000 people
Manish Singh / TechCrunch :
Instagram rolls out Quiet Mode, which silences notifications, auto-replies to DMs, and informs friends, and plans to prompt teens to enable the feature at night
especially teens — manage their time and what they see on Instagram: - Quiet Mode - Hidden Words for Recommendations - Not Interested Multi-Select https://about.instagram.com/ ... https://twitter.com/...
In his first interview, FTX CEO John Ray III says he set up a task force to explore restarting the exchange, saying customers praised its technology, and more
Meta, Twitter, Microsoft, Yelp, Reddit, the EFF, and more file amicus briefs backing Google in Gonzalez v. Google, asking SCOTUS to keep Section 230 protections
Brian Fung / CNN :
With Beijing's permission, Didi republishes its main apps on China's biggest app stores, after over a year in regulatory limbo
Bloomberg :
Myspace co-founders Chris DeWolfe and Aber Whitcomb's PLAI Labs raised a $32M seed led by a16z to build social platforms leveraging generative AI and Web3
Connie Loizos / TechCrunch :
Texas Instruments names COO Haviv Ilan as its next CEO, starting on April 1, replacing Rich Templeton, who was CEO for 19 years and will remain company chairman
Jordan Novet / CNBC : Tweets: @matt_cochrane7 Tweets: Matthew Cochrane / @matt_cochrane7 : “The best measure to judge a company's performance over time is growth of free cash flow per share, and we b...
Autonomous vehicles in China face legal and financial issues, including different rules set by local governments, less funding, and uncertain profit prospects
Nikkei Asia : Tweets: @nikkeiasia Tweets: @nikkeiasia : China has make great progress in the development of autonomous vehicles, but the tide seems to be shifting due to growing uncertainty over the ...
Israel-based aiOla, which uses voice and image recognition to digitize, automate, and streamline manufacturing inspection, raised a $25M Series A led by New Era
Bratislava-based Photoneo, the parent company of robotic warehouse automation startup Brightpick, raised a $19M Series B extension, bringing the round to $40M
Dan Taylor / Tech.eu :
Vannevar Labs, which makes software for government agencies to process security data, raised a $75M Series B led by Felicis, bringing its total funding to $90M+
CB Insights: global fintech funding amounted to $75.2B in 2022, down 46% YoY, but up 52% compared to 2020; US fintech funding was down 50% YoY to $32.8B in 2022
Google made many mistakes with Stadia but did right by users when shutting down the service, including via full refunds, and other companies should take note
Patreon, Substack, and other “passion economy” startups are cutting staff and abandoning fundraising plans; Dealroom: investments fell 75% YoY to $801M in 2022
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