Former Disney CEO Bob Iger Joins Thrive Capital
Iger will mentor startup founders and find new investments at Josh Kushner’s venture capital firm.
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Citadel Securities, Fidelity and Charles Schwab to Launch New Crypto Exchange
EDX Markets will be targeted to both retail and institutional investors.
Patreon Lays Off 17% Of Staff
Patreon is the latest creator economy startup to lay off employees, including from its operations, finance and HR teams.
China Is Twitter’s Fastest Growing Overseas Ad Market Despite Being Banned
Local authorities and Communist Party officials are spending heavily on Twitter, which is blocked in China, to promote tourism or tout local economic or cultural milestones, according to a Reuters investigation.
Peloton Founder John Foley Resigns
Chief legal officer also to depart, replaced by Uber lawyer
Oracle Slightly Misses Cloud Revenue Growth It Projected
Shares of Oracle have meaningfully outperformed the Nasdaq composite index.
AppLovin Abandons Bid for Unity
A combination of AppLovin and Unity would have created a powerhouse in the market for mobile app advertising.
Roblox Announces New Ad Revenue Stream
It will introduce advertising within games and a secondary market for sales of digital assets.
Instagram’s Bid to Rival TikTok Hampered by Reels Engagement Slowdown
“Most Reels users have no engagement whatsoever," an internal Meta report said.
Twitter and Musk Continue Fight Over $7.75 million Whistleblower Payout
Twitter’s lawyers deny Musk’s claim that six-figure severance violated $44 billion merger agreement.
White House Seeks to Widen Restrictions of U.S. Chip Exports to China
The Biden Administration will publish new rules codifying the ban of high-end chip and machinery exports from producers such as Nvidia and AMD that had already been told to stop.
Bolt Scraps $1.5 Billion Acquisition of Wyre
The e-commerce software company unveiled the planned Wyre acquisition after Bolt’s revenue growth had fallen.
Patreon Lays Off Part of Security Team
The startup says the layoffs, affecting five employees, are due to a strategic shift in its security program.
Alphabet Leads $1 Billion Investment in Health Technology Arm Verily
Verily has also promoted president Stephen Gillett to CEO, replacing founder Andy Conrad, who will become executive chairman.
FTX Buys 30% Stake in Anthony Scaramucci’s SkyBridge Capital
The investment comes just a few months after SkyBridge suspended withdrawals from one of its crypto-focused funds in July as digital assets have tumbled.
Wistron In Talks to Partner with Tata Group to Build iPhones in India
The talks come as the Taiwanese Apple supplier looks to shore up its India business, which is operating at a loss.
Apple Considers Using Controversial Chinese Memory Supplier
The disclosure comes after an earlier study accused Yangtze Memory Technologies of being a security risk because of its ties to the Chinese military.
Meta Platforms Disbands Responsible Innovation Team
The company has cut a host of projects in recent months as it tries to rein in spending.
Coinbase Funds Lawsuit Against U.S. Treasury Over Tornado Cash Sanctions
Crypto proponents have criticized the sanctions for targeting the underlying technology as opposed to individuals.
U.K. Prime Minister May Water Down Online Safety Bill
The proposed legislation, which aims to tackle harmful online content, has faced opposition from Conservative politicians who say the bill limits free speech.
Weekday mornings
The Information AM by The Information Staff
Start your morning with the important global tech news of the day, covered by The Information team across five time zones.
By providing your email, you agree to The Information’s Privacy Policy