Tracy Wen Liu / Wired: Source and analysis: PDD-owned Temu is losing an average of $30 per order and between ~$588M to ~$954M per year, as the app tries to break into the US market  —  The Chinese shopping app is topping app stores in the US.  But it’s burning money and squeezing its suppliers to a breaking point in a bid to take on Amazon. Lees verder op Tech Meme

María Luisa Paúl / Washington Post: Brazilian lawmakers file a complaint against Google for letting Google Play users download Slavery Simulator from April 20 to May 24 before taking the game down  —  For about a month, Google Play users in Brazil could download a game that simulated what the South American nation looked like in the 1600s … Lees verder op Tech Meme

Bloomberg: Microsoft, Alphabet, Amazon, Meta, Tesla, Apple, and Nvidia stocks have gained a median 43% since January 2023, almost 5x the S&P 500, bolstered by AI optimism  —  Rarely does a tech-powered stock rally come along that isn’t pilloried for the fragility of its foundation. Lees verder op Tech Meme

Cam Thompson / CoinDesk: DappRadar: Blur’s NFT lending marketplace Blend accumulated 169.9K ETH, or ~$308M, in trading volume since its May 1 launch, taking 82% in lending market share  —  Since NFT lending marketplace Blend launched May 1, it has amassed 169,900 ETH, or about $308 Million in volume. Lees verder op Tech Meme

Bloomberg: US Commerce Secretary Gina Raimondo says the US “won’t tolerate” China’s ban on Micron chips in some critical sectors and calls the decision “economic coercion”  —  Commerce Secretary Gina Raimondo said the US “won’t tolerate” the recent decision by Chinese authorities … Lees verder op Tech Meme

Sam Kim / Bloomberg: Source: South Korea won’t encourage its memory-chip firms to grab Micron’s lost market share in China to not disrupt its long-term US semiconductor relationship  —  South Korea will avoid capitalizing on China’s ban on a US chipmaker, seeing the move by Beijing as an attempt to drive … Lees verder op Tech Meme