Source: Meta Chief Product Officer Chris Cox directed the New Product Experimentation division to scale back and focus entirely on short-form video innovation (Casey Newton/Platformer)

Casey Newton / Platformer: Source: Meta Chief Product Officer Chris Cox directed the New Product Experimentation division to scale back and focus entirely on short-form video innovation  —  Facebook’s New Product Experimentation division is scaling back its mission dramatically, Platformer has learned.

Memo to staff: Adam Mosseri says Instagram’s creator surveys show the app lags behind TikTok and YouTube on the most important creator satisfaction dimensions (The Information)

The Information: Memo to staff: Adam Mosseri says Instagram’s creator surveys show the app lags behind TikTok and YouTube on the most important creator satisfaction dimensions  —  For the past couple of years, as Instagram has sought to better compete with TikTok, becoming more appealing to creators has been a top priority.

Chainalysis: emerging markets, led by Vietnam and the Philippines, drove global cryptocurrency adoption over the past year; China remained active despite a ban (Sandali Handagama/CoinDesk)

Sandali Handagama / CoinDesk: Chainalysis: emerging markets, led by Vietnam and the Philippines, drove global cryptocurrency adoption over the past year; China remained active despite a ban  —  The blockchain analytics firm’s 2022 Global Crypto Adoption Index also shows China remains active despite a ban on crypto trading.

French director Marion Siéfert blames Meta’s policies for banning livestreams of her “Instagram play” about teenage sexuality, even though it contains no nudity (Laura Cappelle/New York Times)

Laura Cappelle / New York Times: French director Marion Siéfert blames Meta’s policies for banning livestreams of her “Instagram play” about teenage sexuality, even though it contains no nudity  —  Marion Siéfert’s “_jeanne_dark_,” about a shy teenager beginning to express her sexuality …

Sources: Adobe plans to acquire UI design and prototyping tool Figma, which could be announced as early as today; one source values the deal at $15B (Bloomberg)

Bloomberg: Sources: Adobe plans to acquire UI design and prototyping tool Figma, which could be announced as early as today; one source values the deal at $15B  —  Adobe Inc. is nearing a deal to acquire Figma, a startup that makes online design collaboration tools, people with knowledge of the matter said.

TikTok and ByteDance’s links to China mean wrongdoing will be punished more harshly in the US than Meta and Twitter, no matter how “transparent” the company is (Casey Newton/Platformer)

Casey Newton / Platformer: TikTok and ByteDance’s links to China mean wrongdoing will be punished more harshly in the US than Meta and Twitter, no matter how “transparent” the company is  —  In new testimony to Congress, the company faces stern questions on China  —  Ever since TikTok became …

The economics of missed opportunities

Pharmaceutical companies make some remarkable advances. Could they make significantly more of them? It’s possible, but for that to happen, the industry would likely have to change some of its core habits, according to the research of Danielle Li, an associate professor of economics at the MIT Sloan School of Management. In a recent paper, […]

Intel, Arm, and Nvidia propose a new open, license-free specification with 8-bit floating point, or FP8, precision as a common interchange format for AI (Kyle Wiggers/TechCrunch)

Kyle Wiggers / TechCrunch: Intel, Arm, and Nvidia propose a new open, license-free specification with 8-bit floating point, or FP8, precision as a common interchange format for AI  —  In pursuit of faster and more efficient AI system development, Intel, Arm and Nvidia today published a draft specification for what they refer …

Tel Aviv-based Groundcover, a performance monitoring service for cloud apps, raised a $20M Series A led by Zeev Ventures, bringing its total funding to $24.5M (Kyle Wiggers/TechCrunch)

Kyle Wiggers / TechCrunch: Tel Aviv-based Groundcover, a performance monitoring service for cloud apps, raised a $20M Series A led by Zeev Ventures, bringing its total funding to $24.5M  —  Groundcover, a performance monitoring platform for cloud apps, today announced that it raised $20 million in a Series A round led …

Ethermine, the largest Ethereum mining firm, will shut down its servers for miners after Ethereum’s Merge, switching its mining pool to withdraw-only mode (David Pan/Bloomberg)

David Pan / Bloomberg: Ethermine, the largest Ethereum mining firm, will shut down its servers for miners after Ethereum’s Merge, switching its mining pool to withdraw-only mode  —  Ethermine, the largest Ethereum mining services provider by computing power, will shut down its servers for miners after the blockchain completes its historic technical upgrade.

PlayStation VR2 hands-on: easy to set up, a joy to use, the OLED display looks great, refreshed Sense controllers are an improvement, gameplay is fun, and more (The Verge)

The Verge: PlayStation VR2 hands-on: easy to set up, a joy to use, the OLED display looks great, refreshed Sense controllers are an improvement, gameplay is fun, and more  —  And it’s pretty good … Sony’s PlayStation VR2 may not be coming out until next year, but after months of drip-feeding news …

Denmark-based Podimo, a subscription service for podcasts and audiobooks, raised €58.6M led by 83North, Highland, and Saban, bringing its total funding to €162M (Todd Spangler/Variety)

Todd Spangler / Variety: Denmark-based Podimo, a subscription service for podcasts and audiobooks, raised €58.6M led by 83North, Highland, and Saban, bringing its total funding to €162M  —  Listen up: Podimo, the Denmark-based subscription service for podcasts and audiobooks, said it secured €58.6 million …

Sources: after its funds performed poorly, SoftBank considers launching a third Vision Fund; Vision Fund 2 is now worth 19% less than the $49B invested (Wall Street Journal)

Wall Street Journal: Sources: after its funds performed poorly, SoftBank considers launching a third Vision Fund; Vision Fund 2 is now worth 19% less than the $49B invested  —  Despite massive losses, Japanese billionaire Masayoshi Son has tried to chart a new path for the tech investment giant

A lasting — and valuable — legacy

Betar Gallant, MIT associate professor and Class of 1922 Career Development Chair in Mechanical Engineering, grew up in a curious, independently minded family. Her mother had multiple jobs over the years, including in urban planning and in the geospatial field. Her father, although formally trained in English, read textbooks of all kinds from cover to […]

The US Treasury clarifies its guidance on Tornado Cash and provides a way for users to lawfully withdraw their funds by applying for a license (Brady Dale/Axios)

Brady Dale / Axios: The US Treasury clarifies its guidance on Tornado Cash and provides a way for users to lawfully withdraw their funds by applying for a license  —  New guidance from the U.S. Treasury Department’s Office of Foreign Assets Control provides a roadmap for people who used Tornado Cash for lawful transactions to […]

NY judge rules the bulk of the state AGs’ ad tech antitrust suit against Google can proceed, but dismissed the claim Meta and Google colluded via Jedi Blue (Leah Nylen/Bloomberg)

Leah Nylen / Bloomberg: NY judge rules the bulk of the state AGs’ ad tech antitrust suit against Google can proceed, but dismissed the claim Meta and Google colluded via Jedi Blue  —  An antitrust suit by state attorneys general accusing Alphabet Inc.’s Google of monopolizing the technology underlying online advertising …

Computing for the health of the planet

The health of the planet is one of the most important challenges facing humankind today. From climate change to unsafe levels of air and water pollution to coastal and agricultural land erosion, a number of serious challenges threaten human and ecosystem health. Ensuring the health and safety of our planet necessitates approaches that connect scientific, […]

How the brain focuses on what’s in mind

Working memory, that handy ability to consciously hold and manipulate new information in mind, takes work. In particular, participating neurons in the prefrontal cortex have to work together in synchrony to focus our thoughts, whether we’re remembering a set of directions or tonight’s menu specials. A new study by researchers based at The Picower Institute […]

Litmus, which helps manufacturers collect data from IoT devices for applications like AI, raised a $30M Series B led by industrial automation company Belden (Kyle Wiggers/TechCrunch)

Kyle Wiggers / TechCrunch: Litmus, which helps manufacturers collect data from IoT devices for applications like AI, raised a $30M Series B led by industrial automation company Belden  —  In recent years, a cottage industry has sprung up around the industrial internet of things (IoT) landscape — and the data generated by it.

Seeking to combat the FTC’s 2020 antitrust lawsuit, Meta subpoenas 132+ companies, including Snap, ByteDance, and Clubhouse, drawing rebukes over sensitive data (Bloomberg)

Bloomberg: Seeking to combat the FTC’s 2020 antitrust lawsuit, Meta subpoenas 132+ companies, including Snap, ByteDance, and Clubhouse, drawing rebukes over sensitive data  —  To defend itself against the federal government, Meta Platforms Inc. says it needs its rivals to divulge some of their most closely held secrets.

An investigation details Twitter’s business in China: local governments and state media buying ads, a growing non-US revenue stream, internal tensions, and more (Reuters)

Reuters: An investigation details Twitter’s business in China: local governments and state media buying ads, a growing non-US revenue stream, internal tensions, and more  —  Even as China bars 1.4 billion citizens from Twitter, its local authorities are splurging on global advertising on the site …

Senate Judiciary Committee leaders send Parag Agrawal a letter asking over a dozen questions about Twitter’s security practices, request responses by Sept. 26 (Brian Fung/CNN)

Brian Fung / CNN: Senate Judiciary Committee leaders send Parag Agrawal a letter asking over a dozen questions about Twitter’s security practices, request responses by Sept. 26  —  .  —  ‘ data-duration=”02:10″ data-source=”CNN Business” data-affiliate-source-link=”http:// None” data-show-name=”” data-show-url=”” class=”video-playlist__item” >