WeWork will finally go public this year, allowing investors to buy and sell its shares. But not through a traditional IPO. In the two years since the office-sharing company’s failed IPO, a new way to launch a stock on Wall Street has become fashionable: SPACs. Special purpose acquisition companies have been embraced by big institutions […]
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New York state Sen. Michael Gianaris was ecstatic when Amazon named Long Island City in 2018 as a front-runner for its new headquarters, a project that would bring 25,000 jobs and $2.5 billion in construction spending to his district in Queens. But his support faded quickly when he learned that state and city leaders had […]
The CEOs of tech giants Facebook, Twitter and Google faced a grilling in Congress Thursday as lawmakers tried to draw them into acknowledging their companies’ roles in fueling the January insurrection at the U.S. Capitol and rising COVID-19 vaccine misinformation. In a hearing by the House Energy and Commerce Committee, lawmakers pounded Facebook CEO Mark […]
More than three years ago, Trump-era regulators killed federal net neutrality regulations designed to prevent AT&T, Comcast, Verizon and other major internet providers from exploiting their dominance to favor certain services or apps over others. In response, seven states and Puerto Rico enacted their own net neutrality policies. The most expansive effort of this sort […]
Many were initially skeptical of the prospects offered by cloud gaming; the ability to stream the latest AAA games at their highest quality on any given hardware with just a solid Internet connection is a rhapsody in and of itself. The gaming industry’s dabble in cloud technology was certainly packing huge potential, but with many […]
The developer of the conservative social network Parler is alleging he was defamed and improperly ousted by a prominent Republican Party benefactor, two men who replaced him at the company and a political commentator known for his support for former President Donald Trump. John Matze said in a lawsuit he was fired for trying to […]
Federal Reserve Chair Jerome Powell said Monday that the U.S. public needs to understand the risks behind Bitcoin and other cryptocurrencies, even as the central bank itself is studying the potential costs and benefits of a digital dollar. Powell said the Fed prefers to call crypto coins “crypto assets,” because their volatility undermines their ability […]
On Feb. 4, Tim Wu, prominent, progressive attorney, sent his last tweet as a private citizen; the next day, the White House announced its decision to place Wu in the National Economic Council (NEC), one of two key advisory boards to President Joe Biden. While Wu has been on board over a month, none of […]
Russian authorities said Tuesday they would block Twitter in a month if it doesn’t take steps to remove banned content, a move that escalates the Russian government’s drawn-out standoff with social media platforms that have played a major role in amplifying dissent in Russia. Russia’s state communications watchdog, Roskomnadzor, last week announced it was slowing […]
Encrypted messaging app Signal appears to have been blocked in mainland China, the latest foreign social media service to cease working in a country where the government tightly controls the flow of information. As of Tuesday, users of the app within China had to connect to a virtual private network (VPN) that allows them to […]