Ticketmaster gets grilled: 6 takeaways from hearing over Taylor Swift concert fiasco

CNN  —  Lawmakers grilled a top executive of Ticketmaster’s parent company, Live Nation Entertainment, on Tuesday after the service’s inability to process orders for Taylor Swift’s upcoming tour left millions…

The Unknown Hedge Fund That Got $400 Million From Sam Bankman-Fried

Not long before FTX collapsed in November, its founder, Sam Bankman-Fried, sent $400 million to an obscure cryptocurrency trading firm called Modulo Capital. The fledgling firm, which was founded in…

UK’s Crown Estate sues Twitter over alleged non-payment of rent in London offices

London CNN  —  The Crown Estate, a British commercial property portfolio historically belonging to the monarch, began court proceedings against Twitter over the tech giant’s alleged non-payment of rent in…

Microsoft to Invest $10 Billion in OpenAI, the Creator of ChatGPT

Microsoft said on Monday that it was making a “multiyear, multibillion-dollar” investment in OpenAI, the San Francisco artificial intelligence lab behind the experimental online chatbot ChatGPT. The companies did not…

Spotify to cut 6% of its workforce

London CNN  —  Spotify (SPOT) said Monday that it will cut 6% of its workforce to reduce costs, joining tech companies including Amazon (AMZN) and Microsoft (MSFT) in slashing headcount…

Genesis, a Crypto Lending Firm, Files for Bankruptcy

The cryptocurrency lender Genesis Global Holdco filed for bankruptcy late on Thursday, the latest crypto company to do so after the collapse of FTX, the exchange founded by Sam Bankman-Fried.…

How Big Tech’s pandemic bubble burst

New York CNN  —  In January 2021, Microsoft CEO Satya Nadella spoke in lofty terms about how the first year of the pandemic had sparked a staggering shift toward online…

Tech Layoffs Shock Young Workers. The Older People? Not So Much.

“This is a gift,” Mr. Pulliam said. “I don’t think that story is told. It’s always doom and gloom.” But for tech workers experiencing their first economic downturn, the cuts…

Tesla video promoting self-driving was staged, engineer testifies

Reuters  —  A 2016 video that Tesla (TSLA) (TSLA) used to promote its self-driving technology was staged to show capabilities like stopping at a red light and accelerating at a…

Elon Musk Testifies That His Tweets Did Not Drive Tesla’s Stock Price

In his testimony, Mr. Musk said he thought Twitter was “the best way to communicate with people,” including “investors, big and small.” He also said he used Twitter to share…