Chinese EV darling Nio to cut 10% staff amid ‘fierce competition’
Nio, the Chinese carmaker known for its sleek, premium electric SUVs, has started a new round of layoffs as intense competition propels it to cut costs and regroup resources. In an internal letter seen by TechCrunch on Friday, Nio’s CEO William Li says the company is expected to reduce “around
Read moreMeta’s latest privacy rip-off will test the EU’s mettle for reining in Big Tech
This week Europe was treated to another show of the mutability of tech after Meta, the microtargeting ad empire formerly known as Facebook, announced it would be launching an ad-free subscription — with a starting price of €10 per month (on web) or €13pm (mobile). As recently as mid 2019,
Read moreHashtag Trending Nov.3-Cloudflare experiences technical issues; Microsoft cracks down on excessive use of AI; Security professionals unhappy?
Cloudflare experiences more technical issues, Microsoft may be moving to restrict excessive use of AI, Security professionals are reporting “low happiness” ratings and the use of automation and AI has MSN.com taken to task by rival CNN for low quality and sometimes erroneous content. These and more top tech
Read moreBlackbird invests in Carepatron’s “radically accessible” healthcare management platform
When TechCrunch covered Carepatron’s pre-seed last year, it was focused on serving solo practitioners and small health practices. Now the healthcare management system has scaled along with its clients, and works with medical practices that range in size from five to 100 practitioners. The platform is now used in about
Read moreNorrsken22’s debut fund closes at $205M to back growth-stage startups in Africa
It’s exciting times for growth-stage investment in Africa as Norrsken22, a Pan-African venture capital firm, achieves the final close of its debut fund, raising a total of $205 million, surpassing its initial target. This also highlights a keen interest from institutional investors in supporting African startups at an essential phase
Read moreSam Bankman-Fried gambled on a trial and his parents lost
Over five weeks, the FTX founder’s parents watched from the galleys — deluded, humiliated, and finally defeated. The jury took a little over four hours to reach a verdict. When Joseph Bankman and Barbara Fried, the defendant’s parents, came into the courtroom, they looked frightened. Bankman put his arm around
Read moreFTX founder Sam Bankman-Fried is guilty of fraud
Photo illustration by Cath Virgina / The Verge The trial could have huge implications for the crypto industry. Stay up to date as The Verge covers the trial from the Manhattan court. Sam Bankman-Fried, the founder of failed cryptocurrency exchange FTX, has been found guilty of seven counts including wire
Read moreSam Bankman-Fried found guilty of fraud
Photo Illustration by Cath Virginia / The Verge Former cryptocurrency kingpin Sam Bankman-Fried has been found guilty of fraud. A New York jury delivered the verdict on November 2nd, concluding a trial that has seen Bankman-Fried defend himself against claims that he criminally mismanaged his crypto exchange FTX and trading
Read moreX runs ‘timeline takeover’ ad promoting anti-trans film
Thursday on X (Twitter), all users saw the same pinned topic under the “What’s happening?” sidebar. As part of a “timeline takeover” — which gives advertisers “priority access to logged-in users’ first impression of the day” — conservative media nonprofit PragerU is promoting the hashtag “#DETRANS” to advertise its new
Read moreSam Bankman-Fried found guilty on all seven counts
Sam Bankman-Fried, the co-founder and former CEO of crypto exchange FTX and trading firm Alameda Research, has been found guilty on all seven counts related to fraud and money laundering. The defendant is “charged with a wide-ranging scheme to misappropriate billions of dollars of customer funds deposited with FTX and mislead
Read more