Coding Bootcamp CEO Austen Allred Fined by Federal Watchdog
Bloomtech, formerly Lambda School, misled customers on its ‘income-sharing agreements’ and made false claims about its graduates’ hiring rates, the CFPB said.
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Coatue Joins Rippling Board as Observer Amid $13.5 Billion Fundraising
Rippling is raising about $200 million and arranging for a sale of employee and investor shares worth $670 million.
EU Watchdog Says Meta Should Give Users Free Service Without Ads
Meta's decision to charge a subscription fee for ad-free versions of its services in Europe has faced scrutiny.
House Speaker Puts TikTok Bill on Fast-Track Path
The plan ties the TikTok bill to aid packages for Ukraine and Israel, which could speed its passage in the Senate after the bill stalled over the past month.
EU Reportedly Won’t Probe Microsoft-OpenAI Partnership
The report, while unsurprising, bodes well for the companies as U.S. regulators scrutinize their relationship.
Amazon Cuts International Seller Fees on Cheap Clothing
The move comes amid mounting competition from ultra-low priced e-commerce sites Temu and Shein.
Tesla Board Seeks New Vote on Musk’s $56 Billion Pay Package
Tesla’s 2024 Proxy also asks shareholders to move the company from Delaware to Texas.
Microsoft Looks to Double New Data Center Capacity Amid AI Boom: Report
Microsoft reportedly plans to double its capacity in the first half of 2024.
Google Employees Arrested After Protesting Cloud Deal with Israel
Social media posts by the group No Tech For Apartheid, which organized the protest, showed staff sitting inside Google Cloud CEO Thomas Kurian’s office.
Demis Hassabis Says Google AI Spending Will Top $100 Billion
The figure underscores the race underway among big tech companies investing deeply in AI.
Tome, Another Early Generative AI Startup Winner, Lays Off Staff
Because Tome’s product relied on AI made by other firms, it didn’t take long for competitors to emerge.
Microsoft Takes Down AI Model Published by Beijing-Based Researchers Without Adequate Safety Checks
The episode comes as Microsoft aims to navigate growing political scrutiny over the development of AI in China.
Microsoft to Invest $1.5 Billion in Abu Dhabi’s G42 Tech Conglomerate
Microsoft President Brad Smith will join G42’s board, while G42 will run its AI applications and services on Microsoft’s Azure cloud service.
Former TikTok Data Scientist Reportedly Alleges Data Sharing with ByteDance in China
The allegations could further jeopardize TikTok’s future in the United States as the Senate considers a bill that would force a sale or ban of TikTok if passed.
BuzzFeed Plans Reverse Stock Split to Avoid Delisting
BuzzFeed’s stock has traded below the $1-per-share minimum requirement to stay listed on the Nasdaq for nearly a year.
Andreessen Horowitz Raises $7.2 Billion, Surpassing Target
The larger-than-expected raise is notable given the challenging fundraising environment.
Hong Kong Grants Conditional Approvals for Bitcoin, Ether ETFs
Approvals could boost Hong Kong’s status as a crypto hub and funnel more investor capital into the two biggest crypto tokens.
IAC Hires Former Hearst and Disney Execs to Steer the Daily Beast
Former Hearst Magazines executive Joanna Coles and former Disney ABC TV executive Ben Sherwood are also getting equity stakes in the digital media publication.
Tesla Executives Departs Amid 10% Layoffs
Tesla’s SVP of powertrain engineering Drew Baglino has left the company.
Tesla Cuts Global Workforce by More Than 10%
EV maker joins other Big Tech companies in trimming their workforce.
Weekday mornings
The Information AM by The Information Staff
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