Reddit’s AMA Volunteers to Scale Back Work
The battle highlights the challenge facing companies trying to make money off content mostly generated from users.
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The Information AM
Start your morning with the important global tech news of the day, covered by The Information team across five time zones.
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Recent Editions
Musk Limits Twitter Usage
Since taking control of Twitter last October, Musk has moved aggressively to control how Twitter’s data can be used.
Nvidia Acquired AI Startup That Shrinks Machine-Learning Models
Former employees of the startup now work at Nvidia.
Goldman Reportedly Trying to Get Out of Apple Partnership
Wall Street bank in talks with Amex to take over Apple business, WSJ reports
Microsoft Says Bing Will Keep Serving News Links in Canada
The move could give Bing an opportunity to try to swipe some Canadian users away from Google.
Citigroup Reviews Relationship with Crypto Custodian Metaco
Crypto payments firm Ripple, which has been in a long-running battle with the SEC, acquired Metaco last month.
ESPN Lays Off About 20 On-Air Personalities
ESPN is cutting on-air staff as the Disney-owned company looks to rein in costs. Disney, more broadly, has laid off 7,000 employees this year.
Apple Becomes $3 Trillion Company
Apple is one of five tech companies with a market capitalization above $1 trillion, including Microsoft, Alphabet, Amazon and Nvidia.
Fidelity Marks Down Stakes in Discord, Reddit
Twitter, on the other hand, got better news. Fidelity marked up its stake by about 5% in May compared to April.
Nvidia, Salesforce Ventures Back AI Video Startup Runway
The financing adds to Runway’s $50 million Series C round announced in December.
Jobs Startup Bitwise Files for Chapter 7 Bankruptcy
The company was valued at hundreds of millions before abruptly shutting down in early June.
Insider Intelligence to Lay Off 20, Outsource to Philippines
Axel Springer's Insider Intelligence is laying off 20 US-based employees and outsourcing their roles to the Philippines.
Amazon Expands Staples Returns Partnership to 1,000 Stores
The partnership is part of Amazon’s push to reduce its reliance on UPS for dealing with returns, which have become an expensive headache for the e-commerce giant.
FTC Set to File Major Amazon Antitrust Suit Over Marketplace Practices
FTC Chair Lina Khan has previously signaled publicly that she could seek to break up Amazon.
Coinbase Says SEC Has No Power to Regulate Crypto
Lawyers for the crypto exchange argued that none of its assets nor its staking services are securities, as the SEC has alleged.
BlockFi Creditors Push for Liquidation of Company
The committee’s lawyers argued that efforts to sell BlockFi have failed and that there is “no balance sheet complexity” as in other crypto bankruptcies.
Overstock.com to Take on Bed Bath & Beyond Website Name
The retailer’s chief executive said the company is weighing changing its name entirely.
Microsoft Wants to Offer Games That Work on Every Device
Nadella acknowledged that Phil Spencer, CEO of Microsoft Gaming, would make calls on content exclusivity if the deal goes through.
Visa Buys Brazilian Fintech Pismo for $1 Billion
The company, backed by Amazon and Accel, runs an issuing platform for some of the biggest banks in Latin America.
Banks Pass Stress Tests, Paving Way for Buybacks and Dividends
Biggest banks get a clean bill of health, with Fed saying they could withstand turbulence in real estate and housing markets.
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