Disney named Geoff Morrell, a former Pentagon press secretary who most recently headed up communications for oil company BP, as its new chief corporate affairs officer. Morrell will succeed Zenia Mucha, Disney’s longtime head of communications who is retiring at the end of this year. Morrell joined ABC in 2000 and worked as a White House Correspondent for ABC News from 2004-2007, but he is...
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The Briefing Venture Capital Startups
Startups in Sequoia’s ‘Crucible Moment’; Musk Pledges More Funding for Twitter
As we reported last night, Sequoia Capital has once again taken on the role of Silicon Valley soothsayer, releasing a 52-slide presentation on advice to startups, which it says face a “crucible moment” as the economy slows and central banks retract the monetary stimulus that kicked off the boom two years ago. In particular, the partners at Sequoia told founders to rethink how they consider...
Chinese Ride-Hailing App T3 Seeks $750 Million as Didi Global Struggles
Musk Scraps Margin Loan, Committing Another $6 billion in Equity for Twitter Deal
Twitter to Pay $150 Million to Settle FTC Privacy Case
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Coinbase Slashes Costs, Freezes Hiring Amid Crypto Crash
Cryptocurrency trading firm Coinbase, whose revenue has shrunk amid a downturn in the sector, is pausing new business projects, freezing hiring for two weeks and aiming to slash its cloud spending on Amazon Web Services, among other cost-cutting measures, according to a pair of internal emails sent to employees this week and viewed by The Information.
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The crypto party was as raucous as ever—and then someone turned on the lights. After a year of record-high token prices and newfound support from legacy financial institutions like Fidelity and BlackRock, reality bit hard the second week of May when the algorithmic stablecoin terraUSD (known as UST) crashed, taking down some $400 billion in crypto market cap with it.
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