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Michael Moritz leaves Sequoia for the firm's wealth management business; sources: partners Mike Vernal, Michelle Fradin, Kais Khimji, and Daniel Chen also left (Kate Clark/The Information) 19-07-2023

Kate Clark / The Information: Michael Moritz leaves Sequoia for the firm’s wealth management business; sources: partners Mike Vernal, Michelle Fradin, Kais Khimji, and Daniel Chen also left  —  Five Sequoia Capital partners have left the firm, the biggest shakeup to the storied venture firm’s leadership since its leader Roelof Botha took over a year ago. Lees verder op Tech Meme

Sources: Meta delayed releasing AR glasses to at least 2027, after having to cut the microLED display, lidar, 3D projector, and more due to technical setbacks (Wayne Ma/The Information) 19-07-2023

Wayne Ma / The Information: Sources: Meta delayed releasing AR glasses to at least 2027, after having to cut the microLED display, lidar, 3D projector, and more due to technical setbacks  —  In March 2020, as the Covid-19 pandemic began to transform the world, the company then known as Facebook struck a deal to buy … Lees verder op Tech Meme

Sources: Threads uses a largely replicated Instagram algorithm, prioritizing creators' and friends' posts over hard news, and relies on Instagram moderators (Financial Times) 19-07-2023

Financial Times: Sources: Threads uses a largely replicated Instagram algorithm, prioritizing creators’ and friends’ posts over hard news, and relies on Instagram moderators  —  Facebook’s parent company downgrades current affairs on Threads app and refuses to engage with Canadian law designed to fund media groups Lees verder op Tech Meme

Miami-based Cosmic Wire, which sells blockchain infrastructure and metaverse creation tools, raised a $30M seed led by the Solana Foundation and Polygon (Brandy Betz/CoinDesk) 19-07-2023

Brandy Betz / CoinDesk: Miami-based Cosmic Wire, which sells blockchain infrastructure and metaverse creation tools, raised a $30M seed led by the Solana Foundation and Polygon  —  The startup offers metaverse creation tools and a list of general blockchain infrastructure solutions. Lees verder op Tech Meme

Google launches Nearby Share for Windows, letting users transfer files between PCs and Android devices close to each other, after debuting a beta in March 2023 (C. Scott Brown/Android Authority) 19-07-2023

C. Scott Brown / Android Authority: Google launches Nearby Share for Windows, letting users transfer files between PCs and Android devices close to each other, after debuting a beta in March 2023  —  Anyone can download Nearby Share for Windows now, but your future laptop might come with it pre-installed.  —  •  —  TL;DR Lees verder op Tech Meme

Los Angeles-based Karat Financial, which offers creators banking and credit card services, raised a $70M Series B, split as $40M in equity and $30M in debt (Emmy Lucas/Forbes) 19-07-2023

Emmy Lucas / Forbes: Los Angeles-based Karat Financial, which offers creators banking and credit card services, raised a $70M Series B, split as $40M in equity and $30M in debt  —  The creator economy is booming: Goldman Sachs estimates its total addressable market to be $250 billion today. Lees verder op Tech Meme

Netflix Q2: revenue up 2.7% YoY to $8.2B, vs. $8.3B est., net income up 3.3% YoY to $1.5B, 5.9M net new subscribers, vs. 1.9M est., and a Q3 forecast below est. (Lisa Richwine/Reuters) 19-07-2023

Lisa Richwine / Reuters: Netflix Q2: revenue up 2.7% YoY to $8.2B, vs. $8.3B est., net income up 3.3% YoY to $1.5B, 5.9M net new subscribers, vs. 1.9M est., and a Q3 forecast below est.  —  Netflix Inc (NFLX.O) handily beat Wall Street earnings forecasts on Wednesday as a password-sharing crackdown … Lees verder op Tech Meme

IBM reports Q2 revenue flat YoY at $15.48B, vs. $15.58B est., net income up 14% YoY to $1.6B, software up 7% YoY to $6.6B, and consulting up 4% YoY to $5B (Kif Leswing/CNBC) 19-07-2023

Kif Leswing / CNBC: IBM reports Q2 revenue flat YoY at $15.48B, vs. $15.58B est., net income up 14% YoY to $1.6B, software up 7% YoY to $6.6B, and consulting up 4% YoY to $5B  —  – IBM reported better-than-expected earnings on Wednesday, expanding its gross margin.  — Revenue missed consensus estimates. Lees verder op Tech Meme

Netflix increases its free cash flow estimate for 2023 from $3.5B to $5B, citing “lower cash content spend” due to the strikes and “timing of production starts” (Erik Hayden/The Hollywood Reporter) 19-07-2023

Erik Hayden / The Hollywood Reporter: Netflix increases its free cash flow estimate for 2023 from $3.5B to $5B, citing “lower cash content spend” due to the strikes and “timing of production starts”  —  The streaming giant is the first Hollywood studio to disclose earnings figures amid the actors’ work stoppage. Lees verder op Tech Meme