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Bithumb, the second largest crypto exchange in South Korea, said it mistakenly gave away 620,000 bitcoin, worth about $44 billion, to users, and has recovered 99.7% of the money. Bithumb was planning to distribute cash rewards to users in Korean won during a promotional event on Friday, but ...
Big tech’s dramatic ramp-up in projected capital expenditures this year will all but wipe out free cash flow for Amazon, Google and Meta Platforms. That will force some of those companies to make some difficult choices, such as whether to end stock buybacks or borrow more money.
The good news is that the big tech companies have the capacity to each borrow hundreds of billions more money than...
Days after OpenAI released a new AI product for enterprise customers, Microsoft commercial CEO Judson Althoff told staff that Microsoft is uniquely positioned to compete with the product, The Information reported Friday. In a memo to staff, Althoff responded to OpenAI’s release of Frontier, a ...
Welcome, Weekenders! In this newsletter:• The Big Read: Parties, PR and Epstein—inside investor Masha Bucher’s charmed ascendance• Artificial Intelligence: OpenClaw, agents and a mania within a mania • Power and Influence: How the architect behind California’s billionaires tax became tech’s villain• Plus, Recommendations—our weekly pop culture picks: “Two Guys, Five Rings” and “The Rest Is...
Until recently, agentic AI, where AIs can take virtual actions and control computers, seemed like an esoteric technology that wasn’t close to going mainstream—at least for use at home on tasks like checking into flights, responding to emails and controlling smart devices. Then OpenClaw, an open-source personal AI assistant, went viral a week ago, showing how technically savvy people could...
January 30 was an eventful day for Masha Bucher. That evening she held a blowout 8th birthday party for her venture capital firm, Day One Ventures, at the Asian Art Museum in San Francisco. The dress code: elegant.
On the invites, Bucher promised the festivities would include a new performance art piece that would weave together “choreography, costume and symbolic gesture.” To give attendees a...
Microsoft’s top sales executive told staff on Friday that the company was uniquely positioned to compete against a new OpenAI product aimed at helping businesses automate office tasks across different software applications—including Microsoft’s own apps.
In an email, Microsoft commercial CEO Judson Althoff provided talking points salespeople could use in selling Microsoft’s tools for managing so...
The Trump administration has granted full approval to a bank charter application for Erebor Bank, a startup-focused lender founded last year by Anduril co-founder Palmer Luckey and Palantir co-founder Joe Lonsdale. A spokesperson at the Office of the Comptroller of the Currency confirmed it ...
Around the time he filed the billionaire tax proposal that has shaken up the tech world and ignited a debate about wealth taxes nationwide, Dave Regan, president of the California-based union behind the effort, convened a group of fellow labor leaders to solicit their thoughts.
In a videoconference, he told the group he had a 30-day period to finalize the measure, which would assess a one-time,...
The European Commission said on Friday that it had preliminarily found TikTok to be in breach of the Digital Markets Act for its “addictive design,” including features like infinite scroll, autoplay and push notifications. TikTok needs to “change the basic design of its service,” such as by ...