What we’re reading (4/25)
“Silicon Valley Startups Brace For A Summer Of Pain” (Bloomberg). “The startup world has had a tough year — plagued by mass layoffs, plummeting venture capital investment and the chaotic collapse of Silicon Valley Bank. But many in tech believe that the worst is yet to come…’We haven’t had a compression in values like this in more than 20 years. It’s an absolute bloodbath,’ said Cameron Lester, global co-head of technology media and telecom investment banking at Jefferies, adding that companies that are able to raise money, even at a lower valuation, are the lucky ones.”
“First Republic Bank Shares Sink 49% After Earnings Report” (Wall Street Journal). “First Republic Bank shares lost about half their value Tuesday, a day after the bank reported first-quarter results that showed a deposit hemorrhage in March that was worse than expected.”
“When Your Boss Is An Algorithm” (NPR). “University of California College of the Law professor Veena Dubal says…rideshare apps promote ‘algorithmic wage discrimination’ by personalizing wages for each driver based on data they gather from them. The algorithms are proprietary, so workers have no way of knowing how their data is being used, Dubal says.”
“Microsoft Reports Earnings Beat, Says A.I. Will Drive Revenue Growth” (CNBC). “Microsoft shares rose 9% in extended trading on Tuesday after the software maker issued fiscal third-quarter results and quarterly guidance that exceeded analysts’ predictions.”
“Insiders Say Tucker Carlson Overplayed His Hand At Fox But The ‘Whole Universe’ Of Right-Wing Media Is Courting Him Now” (Insider). “This person said Carlson's exit was not part of the Dominion settlement, but that Fox had found more damaging information during discovery than had been released to the public. Indeed, trying to decipher exactly why Carlson got the boot may be a fool's game.”
