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Good morning! This is the tech news you need to know this Friday. - Business Insider published a blockbuster investigation into the collapse of Faraday Grid, the energy startup backed by WeWork's Adam Neumann and which valued itself at $6.5 billion. Documents and sources indicate that Faraday Grid's CEO borrowed money from the firm to renovate his house, and spent lavishly on business travel and hotels.
- Amazon took a nosedive after reporting a less profitable quarter than expected. Amazon reported third-quarter earnings on Thursday, missing Wall Street estimates on profit — sending the stock tumbling as much as 8.62% after the release.
- Elizabeth Warren urged the FTC to investigate Amazon over concerns that it played a role in the massive Capital One data breach that affected 100 million people. Capital One stored customer data on Amazon Web Services, the e-commerce giant's popular cloud service.
- US lawmakers asked the Director of National Intelligence to investigate TikTok as a potential risk to national security. Senate Minority Leader Chuck Schumer and Senator Tom Cotton cooperated across political parties to cowrite a letter asking intelligence officials to investigate TikTok, saying it posed a "potential counterintelligence threat we cannot ignore," The Washington Post reported.
- SoftBank's shares slumped to a 10-month low after $9.5 billion WeWork bailout. The firm's stock fell nearly 3% in Tokyo trading on Thursday as investors reacted to the news that it would be putting in another $9.5 billion into the real estate firm.
- An internal memo warned that the White House may get hacked again because so many cybersecurity officials have resigned. Cybersecurity staffer Dimitrios Vastakis wrote in a memo, which was obtained by Axios, that this was because the White House had diminished the power of the Office of the Chief Information Security Officer, a cybersecurity unit set up after a 2014 cyberattack.
- Twitter CEO Jack Dorsey let loose with his criticisms of Facebook CEO Mark Zuckerberg in an interview on Thursday. Dorsey took issue with Zuckerberg's earlier remarks on free speech, saying the Facebook CEO didn't talk enough about the reach and amplification of his platform.
- Amazon's shipping costs soared 46% after promising one-day delivery. Amazon CEO Jeff Bezos said on Thursday that one-day delivery is better for the environment, however, as these items are shipped from fulfillment centers close to the customer.
- Over 200 musicians have pledged to boycott Amazon's music festival unless the company severs all ties with ICE. A group of musicians signed an open letter promising not to participate in Amazon-sponsored events until the company severed ties with Immigration and Customs Enforcement.
- A new investigation from the Wall Street Journal revealed that Amazon, Walmart, and Target sold clothes from factories that were blacklisted after a Bangladeshi factory collapsed and killed 1,100 workers. These items were acquired through wholesalers or listed on their sites by third-party sellers.
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