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- Amazon invested in startups and gained proprietary information before launching competitors, often crushing the smaller companies in the process, according to the Wall Street Journal. The Journal spoke with startups who mentioned Amazon made comparable and software program merchandise after buying stakes in the businesses.
- Former Wirecard COO and fugitive Jan Marsalek appears to have deep ties to Russian intelligence, sources told Insider. “There’s one million causes [for the Russians] to get entangled with Wirecard,” a Dutch official instructed Insider. “Russian officers all the time need to transfer cash to the West, and Wirecard was elevating numerous cash however not as a lot as they instructed buyers.
- Intel’s shares tanked 10% late Thursday after the chip giant announced that production problems have delayed the rollout of its next generation chips. Intel CEO Bob Swan mentioned the corporate discovered “a defect mode” in its manufacturing course of which is able to push again its manufacturing schedule.
- Facebook has undergone considerable internal strife, as its employees reckon with the firm’s stance on refusing to remove posts from politicians containing lies or threats of violence, according to BuzzFeed. One engineer who left on July 1 posted in an inside goodbye notice that he thought “Fb is hurting folks at scale.”
- Trump ads on Facebook claiming ‘TikTok is spying on you’ reached up to 5 million Americans and targeted younger voters. Within the 5 days between July 17 and July 21, accounts tied to Donald Trump’s marketing campaign posted 450 separate adverts on Fb and Instagram lambasting TikTok for spying on customers and siphoning information to China.
- Tesla stock rose on Thursday after the company made a profit for the fourth quarter in a row. Elon Musk’s electric-car firm reported $104 million in internet revenue, a giant enchancment from its $408 million loss in the second quarter of 2019.
- Twitter shares spiked as much as 5.8% on Thursday after the social network reported record growth in daily active users in the second quarter. The corporate added 20 million customers in the interval, fueling a 34% year-on-year enhance in its userbase to 186 million.
- The UK is hoping its next $50 billion tech success story after fintech will be law. London is dwelling to 44% of Europe’s legislation startups and the town has been flagged by The Regulation Society as certainly one of 10 rising “lawtech” ecosystems.
- Analytics startup Quantexa has $65 million in a Series C funding round led by Evolution Equity Partners – and backed by HSBC and Accenture. With a whole bunch of purchasers in greater than 70 nations, together with HSBC and Normal Chartered Financial institution, Quantexa makes use of the developments in large information and AI to uncover hidden threat and alternatives throughout monetary crime, credit score threat, and fraud.
- Apple cofounder Steve Wozniak has filed a complaint against YouTube over an ongoing bitcoin scam using his image and likeness as well as those of other tech executives. The lawsuit comes after a number of high-profile executives, celebrities, and politicians had their accounts taken over as a part of a bitcoin rip-off on Twitter.
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