10 things in tech you need to know today
Good morning! This is the tech news you need to know this Tuesday.
- Uber confirmed it will buy smaller food delivery firm Postmates in a $2.65 billion all-stock deal. Food delivery has come front and center for Uber since March, when a near complete drop-off in global travel decimated its core taxi business.
- Facebook, Google, and Twitter have all suspended complying with Hong Kong police requests for user data thanks to a new Chinese national security law. Hong Kong citizens previously had free access to the internet, but China has imposed a new law in the city that grants the government more leeway to monitor and crack down on online dissent.
- Viral video app TikTok says that it is ceasing operations in Hong Kong. A spokesperson for TikTok told Business Insider that it decided to stop operations in the semi-autonomous Chinese territory "in light of recent events."
- Secretary of State Mike Pompeo has told Fox News the US is 'certainly looking into' banning TikTok over privacy concerns. Pompeo told Fox News that Americans should be wary of using TikTok unless they want their private data "in the hands of the Chinese Communist Party."
- Palantir has confidentially filed for a public listing. The secretive data company announced in a press release Monday that had submitted its S-1 form with the US Securities and Exchange Commission.
- Venture capital company Spark Capital is a major winner of Uber's $2.65 billion Postmates acquisition, extending a streak of hits in a gloomy 2020. Spark Capital, an investor in Postmates, Mirror, and other buzzy startups, has seen a number of big acquisitions and valuations in its portfolio.
- Disney's streaming service Disney Plus got a huge boost in app downloads from the 'Hamilton' movie. Data suggest that the "Hamilton" movie, which was originally set to hit theaters next year, helped drive mobile app downloads up 74% higher in the US over the weekend, compared with the previous four June weekends.
- Prominent direct-to-consumer brands including Casper, Glossier, Harry's, and Smile Direct Club are continuing to pump money into Facebook and Instagram despite the ad boycott. Direct-to-consumer brands depend on Facebook's advertising platform to not only market but sell their goods and services.
- Internet comparison website HighSpeedInternet.com's contest could pay you $1,000 if you log 50 hours playing Nintendo's 'Animal Crossing: New Horizons.' The contest winner must play between Aug. 16 and Sept. 30, at which point they will be awarded the money.
- Tesla CEO Elon Musk started triumphantly selling literal red satin Tesla short shorts to celebrate the firm's stock climbing. Tesla's stock rose last week after the company reported second-quarter delivery figures that beat Wall Street's expectations.
Have an Amazon Alexa device? Now you can hear 10 Things in Tech each morning. Just search for "Business Insider" in your Alexa's flash briefing settings.
You can also subscribe to this newsletter here — just tick "10 Things in Tech You Need to Know.
Source: Read Full Article