Tech Brew Ride Home Thu. 01/19 – Instagram Wants You To Take A Break
Jan 19, 2023
Could Genesis be on the brink of bankruptcy? Meanwhile, Instagram aims to help users take breaks with a new ‘Quiet Mode’ feature. Amazon's shutdown of the AmazonSmile program raises concerns for nonprofits. Wikipedia gets its first redesign in over a decade, enhancing user experience. There's a notable downturn in Web3 startup funding, yet signs show San Francisco may be making a comeback. The tech scene is evolving, especially with Los Angeles emerging as a new hub for venture investments.
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Genesis Bankruptcy
- Genesis creditors are negotiating a bankruptcy plan, including a forbearance period in exchange for cash and DCG equity.
- Gemini co-founder Cameron Winklevoss has publicly feuded with Barry Silbert, accusing him of financial mismanagement.
Coindesk Sale
- Coindesk, owned by Genesis's parent company DCG, might be sold after receiving offers exceeding $200 million.
- DCG initially acquired Coindesk for $500,000, and it generated $50 million in revenue last year.
Instagram's Quiet Mode
- Instagram's new "Quiet Mode" silences notifications, auto-replies to DMs, and informs friends of your break.
- It also provides a summary of missed activity upon exiting, addressing the real-world impacts of disengaging.