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Zuckerberg Struggles to Explain Libra to Congress

Facebook CEO Mark Zuckerberg said he agreed to testify on Capitol Hill so he could provide clarity about Libra, the company’s planned digital currency. But his appearance seemed to leave more questions than answers. The roughly six-hour hearing saw Zuckerberg fumble questions from the House Financial Services Committee about how the external Libra Association will be funded, what kinds of...

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Policy Economy
Layoffs Set Foreign Tech Workers on a Two-Month Dash for Sponsors

After Tolulope Komolafe was laid off from her job at startup Everplans in March, the software developer sent out a tweet to summon the internet’s help. She needed to find a new job in 60 days or her work visa would expire, essentially forcing her to return to Nigeria. Her ask went viral. After interviews with dozens of companies, in early May she accepted an offer in software development ...

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Data Point Real Estate Policy
Tech Workers Could Face Steep Pay Cuts for Leaving Bay Area
Last year, Michael Snow joined GitLab, an open-source collaboration software firm that has long allowed its employees to work remotely from anywhere they want.
Exclusive Economy
Snap CEO Spiegel Calls for Reparations Commission, Taxes to Address Racial Injustice
Snap CEO Evan Spiegel called for the creation of an American commission to address racial injustice and comprehensive tax reform, saying in a lengthy note to employees that he was “heartbroken and enraged” by racism in America.
Modest Proposals Venture Capital Startups
The Over-Under on New Voice-Chat App Clubhouse
The new voice-chat app Clubhouse recently made waves by raising its first institutional round of financing, which reportedly valued the company at more than $100 million.
Exclusive Uber/Lyft
Uber’s Grocery-Delivery Expansion Plans Face Questions as Chains Rebel
Uber faces legal challenges in California over its handling of drivers, while its effort to acquire online restaurant food ordering pioneer Grubhub is likely to get mired in an antitrust review if the companies ever reach a deal.
Out of Office COVID-19
It’s a Stressful Time. Here’s How to Stay Focused at Work
It is hard to concentrate in the middle of a pandemic. Even for people fortunate enough to be employed and working in a safe environment, distractions—painful, ceaseless—are everywhere.
Exclusive Asia Apple
What Apple Learned From Automation: Humans Are Better
Eight years ago, Apple executives including CEO Tim Cook attended a meeting in China where they watched a video of an experimental manufacturing line for the iPad operated by robots rather than humans.