Founders Fund Hires Flexport Founder as Partner
Petersen will continue to serve as executive chairman at Flexport, the $8 billion-valuation logistics startup founded in 2013.
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Fed to Propose Tougher Capital Rules for Big Banks
Banks with more than $100 billion in assets would be required to hold an additional 2 percentage points of capital under the proposals.
New York Times Eliminates Sports Desk in Favor of The Athletic
The Times said stories from The Athletic, which accounts for 5% of overall revenue, will increasingly show up in print and on its website.
TPG Buys Forcepoint Unit From Francisco Partners for $2.45 Billion
Francisco bought Forcepoint, which it is now splitting, from Raytheon in 2021.
Oddity Tech Seeks up to $1.7 Billion Valuation in IPO
The beauty company is hoping to take advantage of recent interest in other beauty and consumer stocks.
Alibaba, Tencent Shares Up As Investors Hope for End of Tech Crackdown
Shares in China's two biggest tech companies are up after China's central bank fined them hundreds of millions of dollars each, a sign a crackdown is ending.
Comedian Sarah Silverman Sues OpenAI, Meta for Copyright Infringement
Silverman and two other authors accused the tech companies of training their AI models on the writers' works without permission.
Musk Says Twitter Will Deprecate Private Tweet Feature, “Circles”
Owner Musk says Twitter will instead prioritize its Communities tab, publicly available interest-based groups that users can tweet to, and direct message group chats.
Instagram Head Says Meta ‘Won’t Encourage’ News on Threads
Meta has been trying to distance itself from news and politics on its platforms in recent years.
Stalled UPS Union Negotiations Threaten E-Commerce Deliveries
If the two sides don't reach a deal by July 31, a strike would snarl millions of daily e-commerce deliveries.
Gemini Sues Barry Silbert, DCG as Genesis Restructuring Stalls
The lawsuit alleges that Silbert and DCG lied about the financial health of crypto lender subsidiary Genesis before it filed for bankruptcy.
Bluesky Reaches 1 Million Downloads as Threads Topples 70 Million
Bluesky reached an important milestone this week as Threads, Meta's Twitter competitor, experienced explosive growth.
Apple Will Require Appointments to Test Vision Pro Headset
The company plans to set up special areas in its retail stores for appointment-only tests of the headset.
Musk Sues Wachtell, Lipton To Recover $90 Million Fee
Wachtell represented Twitter in its litigation against Musk that began when the billionaire tried to walk away from his agreement to buy Twitter.
PE Firm Buys Controlling Stake in Worldpay at $18.5 Billion Valuation
FIS bought the payment processing business for cash and stock in 2019.
Top Binance Executives Quit
The executives are resigning over Binance CEO Changpeng Zhao’s response to a long-running investigation by the U.S. Department of Justice, Fortune reported.
Threads App Reaches More Than 30 Million Signups
In a post about the numbers, Zuckerberg said it "feels like the beginning of something special."
Former Showtime Boss David Nevins Named CEO of Peter Chernin’s Studio
Nevins reportedly said he will look for acquisitions for North Road Company, which raised $150 million from the Qatar Investment Authority earlier this year.
Twitter Reportedly Threatens to Sue Meta Over Threads
A lawyer for Twitter accused Meta of "systematic, willful, and unlawful misappropriation of Twitter's trade secrets" in building the new Threads app.
Affirm Axes Returns Management Service It Bought in 2021
Affirm bought Returnly in mid-2021 in a deal valued at $300 million.
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