A twitter Hack meets the platform's best known users, Netflix gets a co-CEO, and Revels mopeds come to San Francisco. Here is your daily crisis for July 16, 2020.
The big story: high profile Twitter accounts hacked into crypto scams
This was a crazy thing: The Twitter accounts of Apple, Elon Musk, Joe Biden and many, many others were compromised yesterday. They posted messages with the address of a Bitcoin wallet and promised that all payments would be doubled and returned.
Apparently, a hacker used an internal Twitter administration tool to get access to all of these accounts. The company described this as "a coordinated social engineering attack by people who successfully attacked some of our employees with access to internal systems and tools."
Not surprisingly, Twitter's stock suffered a blow, and the company is likely to spend weeks or months dealing with the consequences. (One of the first responses was to lock accounts whose passwords have recently been changed.)
The technology giants
Ted Sarandos Named Co-CEO of Netflix – The announcement comes when the company added more than 10 million new subscribers last quarter.
Instagram launches its redesigned shop, which is now supported by Facebook Pay. With the Instagram shop, you can buy products from brands and developers as well as curated collections via the company's @ shop account in the "Explore" area.
Uber acquires Routematch to dig deeper into local public transport in search of SaaS revenue. Routematch, which provides software to transit agencies, will continue to operate with CEO Pepper Harward at the top.
Startups, funding and venture capital
Revel Lands allows hundreds of electric mopeds to be brought to San Francisco – I've seen Revel's mopeds all over New York City and now they have permission to start in SF.
Activ Surgical raises $ 15 million to advance autonomous and collaborative robotic surgery. The startup equips surgical devices with sensors, the data of which is used to guide surgeons and surgical systems.
Monzo launches the new Monzo Plus with software features that users will hopefully want to pay for. New features include third-party bank account aggregation, virtual debit cards, custom transaction categories, spreadsheet export, and credit updates.
Advice and analysis of extra crunch
Why Certain VC Investors Achieve Outstanding “Founder NPS” Values - Danny Crichton read more than 1,200 start-up recommendations for VCs when creating the theinformationsuperhighway list. In this post, he shares some of the common themes.
8 Edtech investors talk about retraining, digital universities, ISAs, and other post-pandemic trends – We talked to investors about how COVID-19 changed edtech and education, but what happens after the pandemic?
VC Josh Stein talks about the performance dynamics: "I don't think this was a moment for investors when the mustaches twisted." I'm not trying to rub it in.
(Reminder: Extra Crunch is our subscription membership program designed to democratize information about startups. You can register here.)
Game developer survey indicates longer hours and lower productivity as the industry adapts to remote work. Of the developers surveyed by GDC, 32% were less productive despite working longer hours.
VPN providers are rethinking Hong Kong servers under Chinese security law – Hong Kong may lose its status as a data center haven.
Europe's Supreme Court Knocks Out EU-US Flagship Data Transfer Mechanism – The Decision Will Affect U.S. Interests Who Are Interested In Digital Surveillance And Internet Companies Like Facebook.
The Daily Crunch is theinformationsuperhighway's summary of our biggest and most important stories. If you would like this to be delivered to your inbox every day at around 3:00 p.m. Pacific Time, you can register here.