Flexport to Lay Off 20% of Staff, CEO Says
The cuts come five weeks after Petersen abruptly ousted former CEO Dave Clark amid a collapse in the freight market.
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Caroline Ellison Testifies SBF Persuaded Her Not to Resign
Ellison said that she ultimately did not resign as CEO before Alameda collapsed because she trusted Bankman-Fried.
Atlassian to Buy Loom for $975 Million, a 36% Discount to Last Valuation
Andreessen Horowitz, Kleiner Perkins, and Sequoia participated in a $130 million funding round in 2021 that valued Loom at $1.53 billion.
European Commission Opens Probe Into X over Content Moderation
The investigation comes as X has slashed its capabilities for responding to misinformation in recent weeks and months.
Sequoia China Plans Global Push Following Split With U.S. Arm
HongShan is led by star dealmaker Neil Shen. The firm raised $9 billion in new funds last year.
Netflix Co-CEO Ted Sarandos Acknowledges Ad Challenges, Talks Actors’ Strike
Sarandos said the streaming service's ad tier is "not at the scale we want it to be yet," which is why it installed a company veteran to head up the unit.
Olaplex CEO Steps Down Amid Slumping Share Price and Consumer Backlash
The hair care brand went public in 2021 in a $1.5 billion IPO.
Ellison Created Seven Different Alameda Balance Sheets at SBF’s Direction
Bankman-Fried sent crypto lender Genesis a balance sheet that hid billions of customer funds taken from FTX.
DeepMind Cut 20% of Its Expenses Before Merging with Google
The former Alphabet unit also turned a $123 million operating profit.
Microsoft Contests IRS’ Claim It Owes $29 Billion in Unpaid Taxes
Microsoft and the IRS have sparred in recent years, dating back to an IRS probe beginning in 2012.
Goldman Sachs Strikes Deal to Sell Greensky, Details Earnings Hit
Move is part of the Wall Street bank’s unwinding of its consumer banking strategy .
J.P. Morgan Facilitates Its First Blockchain-Based Settlement Trade
The trade is the latest advancement by a big bank into commercial blockchain services.
EU’s Thierry Breton Warns Mark Zuckerberg Over Disinformation
Breton urged Zuckerberg to be "vigilant" amid a "surge of illegal content and disinformation" related to the Israel-Hamas war.
Microsoft’s GitHub AI Coding Assistant Exceeds $100 Million in Recurring Revenue
GitHub Copilot is a profitable business, vice president of product Mario Rodriguez said.
SBF Directed Alameda to “Borrow as Much Money” as Possible
Alameda also used FTX customer funds for the firm’s own trading purposes and investments, including funding FTX Ventures, the former $2 billion venture arm of FTX.
EU Commissioner Asks Musk for Information on “Illegal Content and Disinformation” Spreading on X
If X is found to be in violation of Europe's Digital Services Act, it could face fines of up to 6% of its annual global revenue.
Agnes Chu Departing Conde Nast
Chu, a former executive at Disney, had focused on translating magazine articles into content for film, TV, digital video and podcasts.
Washington Post Seeks to Reduce Headcount by 240, Offers Buyouts
The cuts would represent nearly 10% of the paper’s current total headcount of 2,500.
X Stopped Using Software Tool That Identified Misleading Images
X shut down the internal product, which ran on Google Cloud, as it shifted away from that cloud computing service to reduce costs.
Lambda Labs Nears $300 Million Financing
Investors are valuing Lambda Labs at five times this year’s revenue/
Weekday mornings
The Information AM by The Information Staff
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By providing your email, you agree to The Information’s Privacy Policy