Posts by blatcho:

A look at Mastodon’s “antiviral” design and culture, where users push back at features and behaviors that promote virality, and embrace things that add friction (Clive Thompson/UX Collective)

Clive Thompson / UX Collective: A look at Mastodon’s “antiviral” design and culture, where users push back at features and behaviors that promote virality, and embrace things that add friction  —  Back in 2017 I wrote a short column for Wired about “antiviral” design.  —  I’d recently been using some fun …

FTX balance sheet: $900M in liquid assets the day before bankruptcy, including $470M in Robinhood shares owned by an SBF entity not listed in bankruptcy filings (Financial Times)

Financial Times: FTX balance sheet: $900M in liquid assets the day before bankruptcy, including $470M in Robinhood shares owned by an SBF entity not listed in bankruptcy filings  —  Vast gap highlights the dire state of Sam Bankman-Fried’s exchange before it collapsed into bankruptcy

FTX US General Counsel says the exchange has moved remaining funds to cold wallets to “mitigate damage” following a series of “unauthorized transactions” (Shaurya Malwa/CoinDesk)

Shaurya Malwa / CoinDesk: FTX US General Counsel says the exchange has moved remaining funds to cold wallets to “mitigate damage” following a series of “unauthorized transactions”  —  Millions of dollars started to mysteriously move from FTX late Friday U.S. hours.

FTX’s crash highlights flaws like Sequoia’s lack of access to Alameda’s balance sheet despite its due diligence and the investors failing to demand a board seat (Bloomberg)

Bloomberg: FTX’s crash highlights flaws like Sequoia’s lack of access to Alameda’s balance sheet despite its due diligence and the investors failing to demand a board seat  —  Among the last people to realize that the cryptocurrency exchange FTX was a financial time bomb were the company’s own investors.

Miami-Dade County and the Miami Heat are ending their arena naming rights deal with FTX; the county had signed a 19-year, $135M deal for the rights in 2021 (Brian Windhorst/ESPN)

Brian Windhorst / ESPN: Miami-Dade County and the Miami Heat are ending their arena naming rights deal with FTX; the county had signed a 19-year, $135M deal for the rights in 2021  —  Miami-Dade County and the Miami Heat are ending their arena naming rights deal with bankrupt cryptocurrency firm FTX.

Crypto.com shares its wallet addresses with Nansen to create a dashboard of ~$3B in assets, showing ~20% are in Shiba Inu, more than ETH’s ~17%; ~30% are in BTC (Sage D. Young/CoinDesk)

Sage D. Young / CoinDesk: Crypto.com shares its wallet addresses with Nansen to create a dashboard of ~$3B in assets, showing ~20% are in Shiba Inu, more than ETH’s ~17%; ~30% are in BTC  —  As large crypto exchanges push to prepare “proof-of-reserves” audits, an initial effort reveals just how much of Crypto.com’s reserves …

Meta tells employees it plans to exit its Portal smart display business and wind down smartwatch projects, and that 46% of the 11K jobs cut were in technology (Reuters)

Reuters: Meta tells employees it plans to exit its Portal smart display business and wind down smartwatch projects, and that 46% of the 11K jobs cut were in technology  —  Meta Platforms (META.O) told employees on Friday that 54% of the 11,000 jobs it cut earlier this week were business roles and the rest were […]

How Amazon’s shopping experience, saturated with sponsored products, impacts sellers and consumers, as its ad revenue surpassed revenue from Prime in 2022 (Jason Del Rey/Vox)

Jason Del Rey / Vox: How Amazon’s shopping experience, saturated with sponsored products, impacts sellers and consumers, as its ad revenue surpassed revenue from Prime in 2022  —  Inside the under-the-radar business that makes more money than Amazon Prime.  —  Type any random product into Amazon’s search bar and look closely at the results.

A look at Sam Bankman-Fried’s rise and fall in DC: becoming the face of crypto regulation, proposing bills, and testifying to Congress before FTX collapsed (Financial Times)

Financial Times: A look at Sam Bankman-Fried’s rise and fall in DC: becoming the face of crypto regulation, proposing bills, and testifying to Congress before FTX collapsed  —  Sam Bankman-Fried sought digital asset legislation and donated heavily to Democrats  —  In less than four years …

Interviews with 36 current and former Twitter employees detail the excruciating chaos during Elon Musk’s first two weeks in charge (New York Times)

New York Times: Interviews with 36 current and former Twitter employees detail the excruciating chaos during Elon Musk’s first two weeks in charge  —  Mr. Musk ordered immediate layoffs, fired executives by email, laid down product deadlines and has transformed the company.  —  SAN FRANCISCO — Elon Musk had a demand.

The Bahamas Securities Commission freezes the assets of FTX Digital Markets and “related parties” and appoints an attorney as a provisional liquidator (Lydia Beyoud/Bloomberg)

Lydia Beyoud / Bloomberg: The Bahamas Securities Commission freezes the assets of FTX Digital Markets and “related parties” and appoints an attorney as a provisional liquidator  —  The Bahamas Securities Commission has frozen the assets of FTX Digital Markets “and related parties.”

Experts and Western officials say the Egyptian government’s Android app for the COP27 climate summit could help spy on emails, messages, and voice conversations (Politico)

Politico: Experts and Western officials say the Egyptian government’s Android app for the COP27 climate summit could help spy on emails, messages, and voice conversations  —  Western security advisers are warning delegates at the COP27 climate summit not to download the host Egyptian government’s …

OpenSea plans to continue to enforce NFT royalties on its platform, after X2Y2, Magic Eden, and LooksRare altered their NFT royalty structures (Cameron Thompson/CoinDesk)

Cameron Thompson / CoinDesk: OpenSea plans to continue to enforce NFT royalties on its platform, after X2Y2, Magic Eden, and LooksRare altered their NFT royalty structures  —  “The world is otherwise burning, but we decided this couldn’t wait,” a representative from OpenSea told CoinDesk.

Foxconn reports Q3 revenue up 24% YoY to ~$54.8B, net income up 5% YoY to ~$1.2B but below estimates, and warns consumer electronics revenue will fall in Q4 (Bloomberg)

Bloomberg: Foxconn reports Q3 revenue up 24% YoY to ~$54.8B, net income up 5% YoY to ~$1.2B but below estimates, and warns consumer electronics revenue will fall in Q4  —  Hon Hai Precision Industry Co., maker of most of the world’s iPhones, warned consumer electronics revenue will fall this quarter …

Source: Sam Bankman-Fried told investors that FTX needs a cash injection or the company would need to file for bankruptcy due to a shortfall of up to $8B (Gillian Tan/Bloomberg)

Gillian Tan / Bloomberg: Source: Sam Bankman-Fried told investors that FTX needs a cash injection or the company would need to file for bankruptcy due to a shortfall of up to $8B  —  Sam Bankman-Fried told FTX.com investors on Wednesday that without a cash injection the company would need to file for bankruptcy …

Amazon becomes the world’s first public company to lose $1T in market value, shrinking to ~$879B from $1.88T in July 2021; Microsoft lost $889B since Nov. 2021 (Bloomberg)

Bloomberg: Amazon becomes the world’s first public company to lose $1T in market value, shrinking to ~$879B from $1.88T in July 2021; Microsoft lost $889B since Nov. 2021  —  Amazon.com Inc. is the world’s first public company to lose a trillion dollars in market value as a combination of rising inflation …