Blockchain.com Lays Off 28% of Staff
The London-based company laid off 25% of its staff, or roughly 150 employees, in July.
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Rent the Runway Begins Selling Inventory On Amazon
Rent the Runway is selling both new and secondhand clothes on Amazon’s site, as the clothing rental company struggles with profitability and maintaining renewed growth.
HBO Max Hikes Prices to $15.99 a Month
This is the first time Warner Bros. Discovery has increased the cost of HBO Max’s ad-free tier in the U.S. since its May 2020 launch.
Netflix to Host Advertiser Event During TV ‘Upfronts’ Week
Netflix is joining the TV "upfronts," splashy events where TV networks showcase upcoming programming to advertisers before negotiating billions of dollars in ad-spending commitments.
Peltz Attacks Disney’s Management
Peltz's criticisms include that Disney overpaid for Fox's entertainment assets.
Sam Bankman-Fried Denies Stealing Customer Funds in Newly Launched Substack
Bankman-Fried mostly reiterated claims he’s made in the past, including that he believes FTX US is solvent and that he has not run Alameda Research in several years.
General Atlantic-Owned Beauty Company Files For Bankruptcy
Forma Brands, the parent company of influencer-hyped beauty brands including Morphe, has agreed to be sold to a group of lenders including Jeffries and Cerberus.
Tesla Reportedly Nearing Preliminary Deal to Build Factory in Indonesia
Indonesia, a major producer of nickel, a key material for electric car batteries, is trying to play a more prominent role in the industry.
Disney Replaces Chair and Reveals Peltz Plans Proxy Contest
Incoming chair Mark Parker is so well respected among Disney directors that they reportedly considered him as a temporary replacement for former CEO Bob Chapek.
Apple Working on Touchscreen Macs
In a reversal, Apple is working on bringing a touchscreen MacBook to market by 2025.
Netflix Limits Which Employees Can View Colleagues’ Salaries
Director-level employees at the streaming giant can no longer see salary data for their coworkers.
Twitter Makes TikTok-Like Feed the Default for Apple Mobile Devices
The new Twitter update to Apple’s iOS operating system defaults to an algorithmic timeline called “For You,” the same name as TikTok’s wildly popular recommended feed of videos.
Logistics Startup Flexport Axes 20% of Workforce
Logistics startup Flexport laid off 20% of its workforce Wednesday morning.
Amazon Starts Laying Off Employees in India
The move marks the opening salvo in mass layoffs that the e-commerce and cloud giant has said will begin next week.
TikTok CEO Meets With EU Officials Amid Security Concerns
TikTok, owned by Chinese internet giant ByteDance, is coming under growing scrutiny from governments in the U.S. and other countries.
Apple’s App Store Payouts Flatline
Apple’s annual disclosure of selected App Store metrics also showed an increase in the number of paid subscriptions to Apple services.
Gemini’s Winklevoss Calls on DCG Board to Remove CEO Silbert
Gemini works with Genesis on its lending product, Gemini Earn, whose 340,000 users have more than $900 million stuck on Genesis.
Amazon Expands ‘Buy With Prime’ to More U.S. Merchants, Adds Product Reviews
Amazon said Buy With Prime buttons have helped merchants boost conversion by an average of 25%.
Coinbase Lays Off 950 Employees, or at Least 20% of Staff
This is the second major round of layoffs in the past year. Coinbase cut 1,100 employees in June.
Chinese Lidar Startup Hesai Plans to File for U.S. IPO Soon
Hesai's listing would test U.S. investors' appetite after China's regulatory crackdown on the tech sector and the collapse of the global IPO market last 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