An excerpt from the book The Trolls of Wall Street, which details how r/WallStreetBets fueled a movement that turned millions of young Americans into investors — An excerpt from Nathaniel Popper's forthcoming The Trolls of Wall Street. — By the end of 2011, Jaime Rogozinski, 29, had fallen into a rut.
Sources: a16z and other investors in the fintech Synapse, which filed for bankruptcy in early May, were aware of recordkeeping discrepancies for years — Millions of consumers who kept their savings with digital banking startups such as Yotta or Juno have lost access to their money as a result …
AI search engine Perplexity launches Pages, which will research and create a customizable webpage based on user prompts, aimed at educators, researchers, others — AI search platform Perplexity is launching a new feature called Pages that will generate a customizable webpage based on user prompts.
Content creators are amassing audiences of thousands on Twitch by covering political news and raising funds for Palestinians, as other platforms eschew politics — Dozens of content creators are leveraging the live streaming app to raise funds for Palestinians, circumventing political content bans on other platforms.
Content creators are posting videos on Douyin giving Chinese migrants step-by-step instructions on how to get to the United States through Latin America — Xiong learned how to travel the path to the United States from Latin America through a community of migrants on Douyin, the Chinese version of TikTok.
Stripe says it will temporarily move to an invite-only model for new account sign-ups in India, as it navigates the country's evolving regulatory landscape — Stripe, the global fintech giant, said on Friday that it will temporarily move to an invite-only model for new account sign-ups in India …
Sources: TikTok pauses plans to launch its e-commerce business in major European markets to focus on growth in the US where it's fighting a divest-or-ban law — - ByteDance halts plan to roll out shopping from Spain to Italy — Company aims to entrench itself in its most lucrative market
Sony says PS5 generated $106B in revenue in less than four years vs. PS4's $107B over seven years, PS5 in-game purchases spending up 176% over PS4, and more — Sony has published its annual business briefing. Here are the key takeaways about the performance of the PlayStation business and updates to the company's gaming strategy.
After a Cruise car hit and dragged a pedestrian, executives say they're in no rush to get back on the road, as Cruise slows its breakneck development to a crawl — An incident that seriously injured a pedestrian in San Francisco led Cruise to take all of its cars off the road.
Romanian startup FintechOS, a low-code platform to help banks and insurance companies compete with neobanks, raised a $60M Series B+, after raising $60M in 2021 — Over the years, fintech startups, particularly neobanks, have thrown a cat among the pigeons in banking and finance by building whole new banking software stacks.
Didi reports Q1 revenue up 15% YoY to ~$6.8B and a ~$190M net loss, in part due to higher sales and marketing costs, as well as higher driver fees — - Sales at Chinese ride-hailing firm jumped 15% on demand surge — Didi seeks to rebuild operations prior to next IPO push
EU Agency for Cybersecurity head Juhan Lepassaar says disruptive digital attacks, many tied to Russia-backed groups, have doubled in the EU in recent months — Disruptive digital attacks, many of which have been traced to Russia-backed groups, have doubled in the European Union in recent months …
Chinese government data: foreign-branded smartphone shipments, most of which are iPhones, rose 52% YoY to ~3.5M in April, after stabilizing in March 2024 — - Official data for April showed Chinese mobile demand returning — The iPhone's bad start to the year prompted retail price cuts
OpenAI begins training its new flagship AI model, a process that could take nine months or more, and creates a Safety and Security Committee to explore risks — The advanced A.I. system would succeed GPT-4, which powers ChatGPT. The company has also created a new safety committee to address A.I.'s risks.
How pro-Russian groups exploit Telegram, which has 41M MAUs in the EU, below the DSA's 45M threshold, to spread disinformation on Ukraine, immigration, and more — Pro-Russian disinformation groups are exploiting the “very, very lax” rules on Telegram and there's little EU authorities can do about it.
Foo Yun Chee / Reuters : Google proposes Search tweaks in Europe to comply with the DMA, including removing the map showing hotel locatio...
