10 things in tech you need to know today
1. Investors are bracing for the Nasdaq sell-off to hit startup valuations. It's been a hectic month for the world's biggest
- While venture investors pumped a record $643 billion into private startups last year, the start of 2022 has indicated the brakes might soon be applied to startups — especially for "later-stage and pre-IPO rounds."
- But one industry could be spared: fintech. Several partners said fintech, one of the biggest sectors for VC investment, will be resilient despite a possible downturn. The major names in fintech looking to go public, such as Klarna or Stripe, will still find ample demand, investors said.
- "The declines haven't hit the private markets yet, but it's coming," a partner told Insider.
In other news:
2. Amazon is bringing its cashierless Go convenience stores to the suburbs. The cashless stores, which have previously been limited to urban areas like New York and Chicago, will be opening in Washington state's suburbs to capture work-from-home shoppers. Here's what you need to know.
3. Amazon's $3,000 signing bonuses have struck a nerve with existing staff. Because the bonuses were only for new hires, workers at a warehouse near Seattle demanded that existing employees get similar rewards. Amazon responded with a slight pay bump and small cash bonus, with managers blaming a "limited budget." What insiders are saying about the bonus disparity.
4. Jon Stewart once told Jeff Bezos his vision for the future was "a recipe for revolution." While at a dinner with the Obamas, Stewart told the Amazon founder that workers wanted fulfillment, not jobs running errands for rich people. More on his disagreement with Bezos over the future of work.
5. We outlined the winners and losers of Microsoft's bid to acquire Activision. If Microsoft's $69 billion deal to buy the "Call of Duty" publisher is approved, it will permanently change the gaming industry — with major players like Sony taking a hit. Who will benefit, and who will suffer, from the acquisition.
6. Elon Musk wants McDonald's to accept Dogecoin payments. If the chain were to accept the coin, the Tesla CEO said he'd "eat a Happy Meal on TV." Get the rundown on Musk's request for McDonald's.
7. Mark Zuckerberg and Priscilla Chan's lawyers revealed the identity of a former staffer suing the couple. The true name of "John Doe," who is alleging unfair labor practices and racist and homophobic abuse by one of Zuckerberg's key aides, was left unredacted, likely inadvertently, in some court filings despite ongoing discussions about whether his identity can be publicly revealed. More on the latest twist in a months-long legal drama.
8. Samsung will unveil its new generation of high-end Galaxy S phones on Feb. 9. The company is expected to announce its most advanced phones yet, which are predicted to be called the Galaxy S22 series. Though little has been revealed about the Galaxy S22, here's what we do know.
9. New video shows a close-up view of the latest redesign of Tesla's prototype Cybertruck. The video offers the closest view yet of the Cybertruck's side-view mirrors and the massive windshield wiper that was added to satisfy US regulations. See the footage here.
10. Ford just took the wraps off the new Bronco Raptor. The Raptor, a 400-horsepower, desert-shredding machine, is Ford's most powerful street-legal Bronco SUV yet. Check out the $70,000 Bronco Raptor.
What we're watching today:
- The annual Women in Cloud Summit starts today.
- The Federal Open Market Committee decision on interest rates should be made today.
- Tesla, Intel, AT&T, and others are scheduled to report earnings. Keep up with earnings here.
- India's GDP growth surges to 8.4% in Q3, 2023-24 growth rate pegged at robust 7.6%
- Fiscal deficit at Jan-end touches 63.6% of full year target: Govt data
- Cabinet approves 3 semiconductor fab units, to generate 80,000 jobs
- RIL shares climb nearly 1% after announcing mega merger
- Key infra sectors' growth slows to 15-month low of 3.6% in January