Payments Company Lightspeed Cuts 10% of Staff
Lightspeed Commerce announced it would cut 10% of its staff after making a string of acquisitions in recent years.
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Peloton Names Leslie Berland As New CMO
Berland, a Twitter veteran, joins the fitness company as it tries to revive sales of popular exercise equipment.
Big Binance Customers Move 60% of Assets off Exchange to ‘Cold Storage’
Binance announced a new cold storage feature called “Binance Mirror.”
Activist Investor Ryan Cohen Builds Stake in Alibaba
Cohen, the meme-stock king behind the GameStop rally, is pushing Alibaba to beef up its share buyback program.
Microsoft Will Sell Access to OpenAI’s ChatGPT ‘Soon’
The hottest romance in tech is getting even hotter.
TikTok Proposes Transparency on Algorithms to Appease U.S. Regulators
TikTok is offering to reveal more details about how its technology works in a bid to convince U.S. officials of its independence.
Didi Says it Will Restart New User Registration
The Chinese ride hailing company said on social media that new user registration would begin immediately, marking the end of a government cybersecurity investigation.
U.S. Trustee Says FTX Lawyers ‘Too Conflicted’ to Work on Bankruptcy
The trustee wrote that FTX did not fully disclose ties between Sullivan & Cromwell and FTX US’s general counsel, who previously worked at the firm.
Two Co-Founders of Adept, an OpenAI Rival, Suddenly Left to Start Another Company
Niki Parmar and Ashish Vaswani, two prominent artificial intelligence researchers who left Google in 2021 to launch Adept, an AI startup, have departed.
Sequoia Lowers Management Fees on Crypto, Ecosystem Funds
The change by one of Silicon Valley’s most prominent venture firms could spur a ripple effect among similar investment firms.
Tesla Drops Prices As Much as 20% in US and Europe
The move follows price drops in China last week
JPMorgan Says It Expects ‘Mild Recession’ This Year
The four biggest U.S. banks' earnings still topped analysts' forecasts on Friday.
BlackRock Invests in HR Startup Human Interest
Human Interest, last valued at $1 billion in 2021, administers 401(k) plans for small businesses.
Crypto.com Lays Off 20% of Staff
Crypto.com last announced that it let go of 5%, or roughly 260 employees, in June, but reportedly laid off hundreds of more employees in the weeks after those cuts.
Goldman Lost More Than $3 Billion on Consumer Banking Operations
The investment bank also plans to report fourth-quarter results Tuesday.
Didi Apps Will Be Allowed Back into App Stores as Chinese Regulators Loosen Grip
Ride hailing app Didi Global could see its apps allowed back onto Chinese app stores, allowing them to grow their customer and driver base for the first time since a government block two years ago.
Sequoia Partner Alfred Lin Says FTX Misled Sequoia About Its Relationship with Alameda
“We asked, ‘Are these two companies independent?’ and we were told that they were,” Lin said.
China’s Government Takes Stake in Alibaba’s Domestic Unit
Beijing has previously made similar investments in the domestic units of other major internet firms including ByteDance, Weibo and Kuaishou.
JPMorgan Shuts Down Frank, a Site It Had Bought for $175 Million
Bank's suit alleges Frank's founder created millions of fake accounts.
Apple Cuts Cook’s Target Compensation After Shareholder Pushback
Shareholders complained about the size of Cook's equity awards in the past two years, which were valued at around $82 million each year.
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
