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Robinhood Slashes Staff and Gets a Slap on the Wrist

August 3, 2022
CNBC, Axios
The context
The online investing platform Robinhood is having a tough Wednesday. The company announced it would cut about 23% of its staff, and the New York State Department of Financial Services slapped the crypto-trading division of the company with a $30 million fine.
Robinhood Slashes Staff and Gets a Slap on the Wrist

Slimming down

  • The CEO of Robinhood, Vlad Tenev, said that company will cut its staff by 23%. The layoffs are expected to mostly impact employees in operations, marketing, and program management.
  • Tenev cited a broad crypto-market crash and the deterioration of the online investing world with a looming recession and rising inflation.
  • Robinhood released its second-quarter earnings, and they were disappointing. Their results showed a decline in the number of active users and stored assets on the platform.
  • Robinhood's earnings in the second quarter totaled $318 million and increased from the first quarter's earnings of $299 million.
  • Robinhood previously laid off 9% of its staff in April.
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New York breaks ground

  • The New York State Department of Financial Services has taken its first regulatory action against a crypto firm by fining Robinhood for $30 million.
  • Robinhood employed some shoddy business practices to operate its crypto trading arms, including understaffing the division, violations of anti-money laundering, and cybersecurity regulations.
  • According to financial regulators, Robinhood was not compliant with crypto-trading regulations when they were granted and started operating under a New York state license.
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Technology

Meta May Be Planning Further Layoffs

February 14, 2023
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The context
Meta is reportedly planning a new round of layoffs that are expected to happen sometime in March.
Technology
Tuesday, February 14, 2023

Meta May Be Planning Further Layoffs

The context
Meta is reportedly planning a new round of layoffs that are expected to happen sometime in March.
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Here we go again

  • Meta is preparing for a new round of job cuts that are expected to take place in March and will affect an unknown number of people.
  • In November, Meta laid off about 13% of its workforce.
  • Meta is one of the few tech companies to expand on earlier layoffs from 2022, and CEO Mark Zuckerberg promised that 2023 will be a year of "efficiency."
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Technology

Ford Announces Battery Upgrades

February 14, 2023
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The context
Ford’s electric vehicles will get new batteries that charge faster and are more affordable, thanks to new chemical breakthroughs in battery tech.
Technology
Tuesday, February 14, 2023

Ford Announces Battery Upgrades

The context
Ford’s electric vehicles will get new batteries that charge faster and are more affordable, thanks to new chemical breakthroughs in battery tech.
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Better batteries

  • Ford announced it is opening a $3.5 billion electric vehicle factory in Michigan that will produce batteries with a new formula.
  • The lithium iron phosphate battery's chemistry means they are more durable, faster charging, and more affordable.
  • The new factory will generate 2,500 new jobs.
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Technology

ChatGPT Competitor Neeva Throws Down a Challenge

February 13, 2023
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The context
Neeva launched a generative AI search engine to an international audience today. The company initially launched the AI search engine to a limited audience in January to provide authentic, real-time AI search to a global audience.
Technology
Monday, February 13, 2023

ChatGPT Competitor Neeva Throws Down a Challenge

The context
Neeva launched a generative AI search engine to an international audience today. The company initially launched the AI search engine to a limited audience in January to provide authentic, real-time AI search to a global audience.
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Neeva launches

  • Neeva launched an AI search engine in the US in January to a limited audience of users.
  • The engine was marketed as an "authentic, real-time AI search.
  • The timing of the announcement was auspicious, as Microsoft and Google battle back and forth over integrating AI into their respective search engines.
  • Users have to subscribe to access the engine because Neeva doesn’t monetize through advertising and prevents third-party trackers from using personal data to display personalized ads.
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June 8, 2022

This Week In Technology June 2nd

This week, the COO of Meta, Sheryl Sandberg, is stepping down, Elon Musk demanded employees return to the office, and Clearview AI got some bad news.
This Week In Technology June 2nd
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Sources: 

COO No More

Sheryl Sandberg, the COO of Meta (Facebook), announced she would be stepping down after 14 years.

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Tesla's Back In the Office

Elon Musk declared that Tesla workers should return to the office full time or get lost.

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Facial Technology Clampdown

Privacy watchdogs and AI innovators disagree on the way forward for facial recognition technology.

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Entertainment
May 19, 2022

This Week in Entertainment

The defamation trial of actress Amber Heard and actor Johnny Depp raged on and singer Eric Clapton’s European tour is on hold.

This Week in Entertainment
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Sources: 
ABC, Newsweek, Fox News, Billboard, The Hill, CNN

Ongoing: Amber Heard V. Johnny Depp

May 20th, 2022 

Actor Johnny Depp is suing his ex-wife, actress Amber Heard, for defamation over an op-ed penned by Heard about her experience with domestic abuse. The op-ed is allegedly about her marriage to Depp. 

Clapton on Hold

May 18th, 2022

Guitarist and singer Eric Clapton announced that he would cancel two shows on his European tour after testing positive for Covid-19. 

Try something new

Go back in time

Entertainment

Rust Documentary Is Moving Full Speed Ahead

February 14, 2023
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The context
The producers of the film "Rust" named Bianca Cline as its cinematographer. The documentary will cover the death of the film's cinematographer Halyna Hutchins during production when a prop gun held by lead actor and producer Alec Baldwin misfired with a live round.
Entertainment
Tuesday, February 14, 2023

Rust Documentary Is Moving Full Speed Ahead

The context
The producers of the film "Rust" named Bianca Cline as its cinematographer. The documentary will cover the death of the film's cinematographer Halyna Hutchins during production when a prop gun held by lead actor and producer Alec Baldwin misfired with a live round.
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 →

Green light for Rust documentary

  • The producers of the film “Rust” announced that they had found a cinematographer to continue the production of the film after it was halted when the former cinematographer Halyna Hutchins was shot and killed in an on-set accident.
  • The producers announced in October that the film would be completed in Hutchins’ honor and that a documentary would be made about the completion of the film.
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Politics

Higher Than Anticipated Inflation Sparks Fears of Further Interest Rate Hikes

February 14, 2023
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The context
January inflation was higher than expected, sparking fears that the Federal Reserve may enact further interest rate hikes.
Politics
Tuesday, February 14, 2023

Higher Than Anticipated Inflation Sparks Fears of Further Interest Rate Hikes

The context
January inflation was higher than expected, sparking fears that the Federal Reserve may enact further interest rate hikes.
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 →

Higher than expected

  • Consumer prices rose 0.5% in January, according to the Labor Department’s consumer price index, which was higher than experts expected.
  • The Federal Reserve may issue a more aggressive hike in the coming months to slow inflation.
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Politics

More and More Mysterious Objects

February 14, 2023
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The context
The White House reassured the press today that there was no indication that the unidentified flying objects shot down over the US and Canada were part of a Chinese spy program, leaving more questions about the objects’ origins.
Politics
Tuesday, February 14, 2023

More and More Mysterious Objects

The context
The White House reassured the press today that there was no indication that the unidentified flying objects shot down over the US and Canada were part of a Chinese spy program, leaving more questions about the objects’ origins.
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 →

Unclear origins

  • The White House said today that there is no indication that the three objects shot down by the US military over the weekend were part of China's spy program.
  • Officials have yet to analyze the debris from the objects because access has been impossible due to weather conditions and location.
  • The administration suggested the balloons were tied to a commercial or harmless entity.
Go deeper →
Technology
May 19, 2022

This Week in Tech

Meta caught the attention of researchers and investors. Sony released new earbuds that caught many a gearhead’s attention, and the DOJ declared it would no longer charge “good faith” hackers who partake in security research. 

This Week in Tech
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 →
Sources: 
Fortune, Microsoft News, Euronews, TechCrunch, TNW, Gizmodo, CNET, Vice

Meta-Maniacs

May 18th, 2022

Zuckerberg’s brainchild, the Metaverse, struggles to find lift-off on the markets with mixed results. 

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Sources: Fortune, Microsoft News, Euronews

Sony’s New Earbuds Hit The Market 

May 18th, 2022

Sony’s the name on everybody’s lips today as they announced they are releasing a $200 wireless earbud, and social media is aflame with reviews for their noise-canceling earphones.

Learn More

Sources: TechCrunch, TNW, Gizmodo

Good Day To Be a Good Faith Hacker

May 19th, 2022

The DOJ announced on May 19th that they would no longer prosecute so-called “good faith hackers” under the Computer Fraud and Abuse Act. The decision protects hackers who expose security flaws in the interest of public good. 

Learn More

Sources: TechCrunch, CNET, Vice

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