Monday, March 9, 2020

Daily Crunch - Twitter makes peace with investors

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Monday, March 09, 2020 By Anthony Ha

Twitter receives a $1 billion investment from Silver Lake, the Gates Foundation is working on COVID-19 home testing kits and Robinhood goes down again. Here’s your daily Crunch for March 9, 2020.

Silver Lake makes $1B investment into Twitter; Twitter, Elliott call truce as Dorsey stays as CEO

After a week in which activist investor Elliott Management made rumblings about forcing out Jack Dorsey as Twitter CEO, it looks like we have a truce of sorts between the two as part of a larger investment deal.

In other Twitter news, a video retweeted by Donald Trump is the first to be marked with Twitter's new "manipulated media" tag. The company formally unveiled a new policy last month that said media that has been "significantly and deceptively altered or fabricated" is likely to be labeled if it is determined to be deliberately misleading.

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Silver Lake makes $1B investment into Twitter; Twitter, Elliott call truce as Dorsey stays as CEO image

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Gates Foundation-backed program will soon be issuing home testing kits for COVID-19 in Seattle

The kit, based on a nose swab, should be able to return results in up to two days and will be shared with health officials who can then notify people who test positive.

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The Robinhood app is down again as stocks get routed on Wall St.

Investors using the trading app from Robinhood were once again locked out of trading this morning. This comes one week after an outage took down the app on what was one of the busiest trading days of the year.

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The Robinhood app is down again as stocks get routed on Wall St. image

Amazon is now selling its cashierless store technology to other retailers

The technology uses a combination of cameras, sensors, computer vision techniques and deep learning to allow customers to shop, then leave the store without waiting in line to pay. This is the same technology that powers the Amazon Go cashierless convenience stores and Amazon's newly launched Amazon Go Grocery store in Seattle.

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GM reveals an EV for (almost) every purse and purpose

GM’s announcement this week gave new life to its brand ladder — a portfolio that ranges from the heights of luxury to the most basic utility — and tipped its hand about how it will bring EVs "across the chasm." (Extra Crunch membership required.)

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GM reveals an EV for (almost) every purse and purpose image

Image Credits: GM

Crypto wallet app ZenGo launches savings mode

ZenGo is expanding beyond the basic features of a cryptocurrency wallet — letting you hold, send and receive crypto assets. You can now set aside some of your crypto assets to earn interest. In other words, ZenGo now also acts like a savings account.

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This week's TechCrunch podcasts

The latest full episode of Equity discusses Kleiner Perkins’ new, larger fund, while the Monday news roundup looks at the latest stock market turmoil. And on Original Content, we review the Netflix reality series “Love Is Blind.”

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