Andreessen Horowitz raises $4.5 billion crypto fund to take advantage of bargains in down market

Chris Dixon, General Partner at Andreessen Horowitz, discusses cryptocurrency during the TechCrunch Disrupt forum in San Francisco, October 2, 2019. Kate Munsch | Reuters Andreessen Horowitz plans to plow billions of dollars into crypto start-ups while digital asset markets are in a rut. The Silicon Valley firm announced a new $4.5 billion fund for backing crypto and blockchain companies on Wednesday. It marks Andreessen’s fourth fund for the asset class and brings its total raised for crypto and blockchain investments to $7.6 billion. The firm plans to invest in both…

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Democrats urge Google to stop collecting location data that could be used to identify people seeking abortions

Sen. Ron Wyden, D-OR Sarah Silbiger | Getty Images News | Getty Images A group of 42 Democratic lawmakers urged Google CEO Sundar Pichai in a letter Tuesday to stop collecting and keeping unnecessary or non-aggregated location data that could be used to identify people seeking abortions. The letter comes ahead of the anticipated reversal of Roe v. Wade, the Supreme Court case that protected the federal right to an abortion, after Politico published a draft opinion that would do just that. The court has not yet issued its final…

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Safety consultant goes viral for leaving Shell after a decade, says ‘core business’ is dangerous

Shell officially changed its name on Friday, ditching “Royal Dutch”, which has been part of its identity since 1907. Rick Wilking | Reuters At 8:27 a.m. on Monday morning, May 23, Caroline Dennett emailed 1,400 executives at the oil and gas conglomerate, Shell, to announce her resignation after 11 years working as a safety consultant. Dennett, who is based near London, asked executives and management at Shell “to look in the mirror and ask themselves if they really believe their vision for more oil and gas extraction secures a safe…

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Microsoft is selling the metaverse now ⁠— and it’s helping make everything from robots to ketchup

Microsoft’s HoloLens 2. Andrew Evers | CNBC You may not be ready to jump into the metaverse for fun, but it could be coming to work sooner than you think. Microsoft announced Tuesday that Kawasaki is a new customer for the tech giant’s so-called “industrial metaverse” ⁠— a fancy way of saying factory floor workers will wear a HoloLens headset to help with production, repairs and managing supply chains. It will use the headsets to help build robots. HoloLens, first launched in 2016, lets the wearer experience augmented reality, which…

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Snap’s warning sends shock across digital advertising as investors flee social media stocks

Evan Spiegel, CEO and co-founder of Snap Inc. Adam Galica | CNBC Social media companies were already having a rough year from the cutback in digital ad spending caused by rising inflation, supply chain challenges and the war in Ukraine. Forecasts for the second quarter called for meager growth at best, and stock prices were getting hammered. That was all before Snap CEO Evan Spiegel warned late Monday of an environment that’s worsened since his company reported quarterly results in April, when guidance was already disappointing. In telling employees and…

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Palantir CEO weighs in on the Ukraine war: ‘The lesson for every big country is holy s—‘

Palantir CEO Alex Karp believes that the war between Russia and Ukraine is making big countries re-consider their military strategies. Asked by CNBC’s Andrew Ross Sorkin if there is a lesson for China from the war, Karp said: “The lesson for every big country is ‘holy s—. We’ve been buying all this heavy stuff and if people are willing to fight as heroes, fight to the last person … they might actually be able to beat us’.” Karp, who was interviewed at the World Economic Forum in Davos on Tuesday,…

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Nearly one in five Amazon delivery drivers suffered injuries in 2021, study finds

Amazon driver Shawndu Stackhouse delivers packages in Northeast Washington, D.C., on Tuesday, April 6, 2021. Tom Williams | CQ-Roll Call, Inc. | Getty Images Amazon‘s delivery operations are suffering from an “escalating injury crisis,” driven largely by punishing quotas and pressure to ferry packages as quickly as possible, according to a new study. Nearly one in five drivers making deliveries for Amazon suffered injuries in 2021, a 40% increase from last year’s injury rate, the Strategic Organizing Center said in a report released Tuesday. The SOC, which is a coalition…

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Former White House press secretary Jen Psaki will join MSNBC this fall

U.S. White House press secretary Jen Psaki speaks during a press briefing at the White House in Washington, December 20, 2021. Kevin Lamarque | Reuters Jen Psaki, who left her role as President Joe Biden’s press secretary earlier this month, will join cable news network MSNBC this fall. Psaki will appear across all MSNBC programs on cable and will host her own streaming show beginning in the first quarter of 2023, according to MSNBC President Rashida Jones. She will also appear on both NBC and MSNBC during primetime coverage of…

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Snap falls 35% on pace for worst day ever, dragging other stocks with it

Evan Spiegel, co-founder and chief executive officer of Snap Inc., speaks during the virtual Google Pixel Fall Launch event in New York, on Tuesday, Oct. 19, 2021. Michael Nagle | Bloomberg | Getty Images Snap shares plunged 35% on Tuesday, putting the company on pace for its worst day ever and dragging down other social media and digital ad company stocks. The tumble comes after Snap issued a warning on Monday to investors saying it won’t meet its own targets for revenue and adjusted earnings in the current quarter. “Since…

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Tech rout is just a ‘shake-out’: Top CEOs predict what’s next for markets

Monitors display stock market information at the Nasdaq MarketSite in New York, on Friday, Jan. 21, 2022. Michael Nagle | Bloomberg | Getty Images Top CEOs and investors have struck an optimistic tone on the recent sell-off global technology stocks, telling CNBC it’s unlikely to metastasize into a broader market crisis. The tech-heavy Nasdaq 100 index closed Monday’s trading down more than 26% year-to-date and earlier this month — after the Federal Reserve raised interest rates — the world’s largest technology companies shed over $1 trillion in value in just…

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