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Fwd: Meta’s spending cut on AR/VR , Google’s purchase of Wiz and return, and CrowdStrike crisis: latest big tech news this month
by Gunnar Larson 30 Jul '24

30 Jul '24

---------- Forwarded message --------- From: The Information <hello(a)theinformation.com> Date: Tue, Jul 30, 2024, 10:34 AM Subject: Meta’s spending cut on AR/VR , Google’s purchase of Wiz and return, and CrowdStrike crisis: latest big tech news this month To: <g(a)xny.io> Don’t miss a major story from The Information ‌ ‌ ‌ July 30, 2024 Key highlights from big tech news this month: - *Meta’s Reality Labs * hardware teams have been asked to cut spending by nearly 20% between now and 2026 <https://e.customeriomail.com/e/c/eyJlbWFpbF9pZCI6ImRnU2kwUVlEQU8yWGxBSHNsNV…>, as Meta reins in spending on its AR/VR division. - * Google*’s potential $23 billion purchase of cloud security startup *Wiz* would return at least $7 billion <https://e.customeriomail.com/e/c/eyJlbWFpbF9pZCI6ImRnU2kwUVlEQU8yWGxBSHNsNV…> for the startup's top 5 investors. - A global outage sparked by a faulty software update pushed by *CrowdStrike* <https://e.customeriomail.com/e/c/eyJlbWFpbF9pZCI6ImRnU2kwUVlEQU8yWGxBSHNsNV…> is prompting some large customers to mull switching to rivals. *Google and Meta* <https://e.customeriomail.com/e/c/eyJlbWFpbF9pZCI6ImRnU2kwUVlEQU8yWGxBSHNsNV…> Exclusive Reality Comes to Meta’s Reality Labs <https://e.customeriomail.com/e/c/eyJlbWFpbF9pZCI6ImRnU2kwUVlEQU8yWGxBSHNsNV…> By Wayne Ma and Kalley Huang <https://e.customeriomail.com/e/c/eyJlbWFpbF9pZCI6ImRnU2kwUVlEQU8yWGxBSHNsNV…> AI Agenda What Meta's Largest Llama Model is Missing <https://e.customeriomail.com/e/c/eyJlbWFpbF9pZCI6ImRnU2kwUVlEQU8yWGxBSHNsNV…> By Kalley Huang <https://e.customeriomail.com/e/c/eyJlbWFpbF9pZCI6ImRnU2kwUVlEQU8yWGxBSHNsNV…> Exclusive The Biggest Winners From Wiz’s Potential $23 Billion Sale to Google <https://e.customeriomail.com/e/c/eyJlbWFpbF9pZCI6ImRnU2kwUVlEQU8yWGxBSHNsNV…> By Kate Clark, Natasha Mascarenhas and Aaron Holmes <https://e.customeriomail.com/e/c/eyJlbWFpbF9pZCI6ImRnU2kwUVlEQU8yWGxBSHNsNV…> The Briefing Google’s Shrinking Ad-Tech Business <https://e.customeriomail.com/e/c/eyJlbWFpbF9pZCI6ImRnU2kwUVlEQU8yWGxBSHNsNV…> By Martin Peers *Other News* <https://e.customeriomail.com/e/c/eyJlbWFpbF9pZCI6ImRnU2kwUVlEQU8yWGxBSHNsNV…> Exclusive CrowdStrike Crisis Gives Rivals Opening to Pounce <https://e.customeriomail.com/e/c/eyJlbWFpbF9pZCI6ImRnU2kwUVlEQU8yWGxBSHNsNV…> By Aaron Holmes <https://e.customeriomail.com/e/c/eyJlbWFpbF9pZCI6ImRnU2kwUVlEQU8yWGxBSHNsNV…> Exclusive Eric Schmidt’s Split With Advisor Reveals Complex Deals With Ex-Girlfriends <https://e.customeriomail.com/e/c/eyJlbWFpbF9pZCI6ImRnU2kwUVlEQU8yWGxBSHNsNV…> By Michael Roddan and Cory Weinberg <https://e.customeriomail.com/e/c/eyJlbWFpbF9pZCI6ImRnU2kwUVlEQU8yWGxBSHNsNV…> The Big Read Fear and Longing in Sun Valley <https://e.customeriomail.com/e/c/eyJlbWFpbF9pZCI6ImRnU2kwUVlEQU8yWGxBSHNsNV…> By Nick Wingfield <https://e.customeriomail.com/e/c/eyJlbWFpbF9pZCI6ImRnU2kwUVlEQU8yWGxBSHNsNV…> Exclusive Apple Moves Forward With Foldable iPhone <https://e.customeriomail.com/e/c/eyJlbWFpbF9pZCI6ImRnU2kwUVlEQU8yWGxBSHNsNV…> By Wayne Ma and Qianer Liu Subscribe to The Information to get only the news you need to know directly to your inbox, giving you a competitive edge. For a limited time, save 25% on your first year. Subscribe <https://e.customeriomail.com/e/c/eyJlbWFpbF9pZCI6ImRnU2kwUVlEQU8yWGxBSHNsNV…> Follow us [image: X] <https://e.customeriomail.com/e/c/eyJlbWFpbF9pZCI6ImRnU2kwUVlEQU8yWGxBSHNsNV…> [image: LinkedIn] <https://e.customeriomail.com/e/c/eyJlbWFpbF9pZCI6ImRnU2kwUVlEQU8yWGxBSHNsNV…> [image: Facebook] <https://e.customeriomail.com/e/c/eyJlbWFpbF9pZCI6ImRnU2kwUVlEQU8yWGxBSHNsNV…> [image: Threads] <https://e.customeriomail.com/e/c/eyJlbWFpbF9pZCI6ImRnU2kwUVlEQU8yWGxBSHNsNV…> [image: Instagram] <https://e.customeriomail.com/e/c/eyJlbWFpbF9pZCI6ImRnU2kwUVlEQU8yWGxBSHNsNV…> Sent to g(a)xny.io <g@xny.io?utm_campaign=Monthly+Digest%3A+Big&utm_content=4800&utm_medium=email&utm_source=cio&utm_term=3263> | Manage your preferences or unsubscribe <https://e.customeriomail.com/e/c/eyJlbWFpbF9pZCI6ImRnU2kwUVlEQU8yWGxBSHNsNV…> | Help <https://e.customeriomail.com/e/c/eyJlbWFpbF9pZCI6ImRnU2kwUVlEQU8yWGxBSHNsNV…> The Information · One Post Street, Suite 1050, San Francisco, CA 94104 <https://e.customeriomail.com/e/c/eyJlbWFpbF9pZCI6ImRnU2kwUVlEQU8yWGxBSHNsNV…>

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BREAKING: Texas, Meta Reach Historic $1.4B Deal In Biometric Data Suit
by Gunnar Larson 30 Jul '24

30 Jul '24

BREAKING: Texas, Meta Reach Historic $1.4B Deal In Biometric Data Suit <https://www.law360.com/compliance/articles/1863424?nl_pk=ab5ce197-c1fb-4d8e…> By Catherine Marfin The state of Texas has reached a historic $1.4 billion settlement with Meta Platforms Inc. in a lawsuit accusing the social media giant of illegally collecting Facebook users' biometric data through its now-discontinued facial recognition feature, attorneys for the state announced Tuesday. Read full article » <https://www.law360.com/compliance/articles/1863424?nl_pk=ab5ce197-c1fb-4d8e…> | Save to favorites » <https://www.law360.com/compliance/articles/1863424?nl_pk=ab5ce197-c1fb-4d8e…>

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Teller Pens Deal With Wells Fargo In AML Whistleblower Case
by Gunnar Larson 30 Jul '24

30 Jul '24

Teller Pens Deal With Wells Fargo In AML Whistleblower Case <https://www.law360.com/banking/articles/1863264?nl_pk=feb6bbba-7878-4d39-be…> By Elliot Weld Wells Fargo has reached a settlement in principle with a former teller who claimed she was fired after raising concerns about the bank's "streamlined" account opening process that allowed customers to open accounts if they'd failed anti-money laundering screenings previously. Order attached | Read full article » <https://www.law360.com/banking/articles/1863264?nl_pk=feb6bbba-7878-4d39-be…> | Save to favorites » <https://www.law360.com/banking/articles/1863264?nl_pk=feb6bbba-7878-4d39-be…>

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BofA, Citi Among Banks In $80M Deal To End Bond-Rig Suit
by Gunnar Larson 30 Jul '24

30 Jul '24

BofA, Citi Among Banks In $80M Deal To End Bond-Rig Suit <https://www.law360.com/banking/articles/1863131?nl_pk=feb6bbba-7878-4d39-be…> By Sydney Price Units of Bank of America, Citigroup and other banking giants have agreed to pay $80 million to settle investor claims accusing them of conspiring to fix European government bond prices. Memorandum attached | Read full article » <https://www.law360.com/banking/articles/1863131?nl_pk=feb6bbba-7878-4d39-be…> | Save to favorites » <https://www.law360.com/banking/articles/1863131?nl_pk=feb6bbba-7878-4d39-be…>

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9th Circ. Partly Revives BofA Customers' ATM Fee Suit
by Gunnar Larson 30 Jul '24

30 Jul '24

9th Circ. Partly Revives BofA Customers' ATM Fee Suit <https://www.law360.com/banking/articles/1863420?nl_pk=feb6bbba-7878-4d39-be…> By Gina Kim The Ninth Circuit on Monday partially reinstated a proposed class action alleging Bank of America charged out-of-network fees for balance inquiries customers said they didn't know they authorized on ATMs, finding customers can be charged under their contract only if it's clear they sought the information and initiated the transaction. Opinion attached | Read full article » <https://www.law360.com/banking/articles/1863420?nl_pk=feb6bbba-7878-4d39-be…> | Save to favorites » <https://www.law360.com/banking/articles/1863420?nl_pk=feb6bbba-7878-4d39-be…>

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Think Like A Lawyer: Dance The Legal Standard Two-Step
by Gunnar Larson 30 Jul '24

30 Jul '24

Think Like A Lawyer: Dance The Legal Standard Two-Step <https://www.law360.com/governmentcontracts/articles/1862332?nl_pk=4126fe73-…> From rookie brief writers to Chief Justice John Roberts, lawyers should master the legal standard two-step — framing the governing standard at the outset, and clarifying why they meet that standard — which has benefits for both the drafter and reader, says Luke Andrews at Poole Huffman. Read full article » <https://www.law360.com/governmentcontracts/articles/1862332?nl_pk=4126fe73-…> | Save to favorites » <https://www.law360.com/governmentcontracts/articles/1862332?nl_pk=4126fe73-…>

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DOJ Innovasis Settlement Offers Lessons On Self-Disclosure
by Gunnar Larson 30 Jul '24

30 Jul '24

DOJ Innovasis Settlement Offers Lessons On Self-Disclosure <https://www.law360.com/governmentcontracts/articles/1860218?nl_pk=4126fe73-…> The recent $12 million settlement with Innovasis and two of its executives demonstrates the U.S. Department of Justice's continued prioritization of Anti-Kickback Statute enforcement amid the growing circuit split over causation, and illustrates important nuances surrounding self-disclosure, say Denise Barnes and Scott Gallisdorfer at Bass Berry. Read full article » <https://www.law360.com/governmentcontracts/articles/1860218?nl_pk=4126fe73-…> | Save to favorites » <https://www.law360.com/governmentcontracts/articles/1860218?nl_pk=4126fe73-…>

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MoneyGram Opposes CFPB, NY's 'Futile' Bid To Bolster Case
by Gunnar Larson 30 Jul '24

30 Jul '24

MoneyGram Opposes CFPB, NY's 'Futile' Bid To Bolster Case <https://www.law360.com/compliance/articles/1863180?nl_pk=ab5ce197-c1fb-4d8e…> By Aislinn Keely MoneyGram told a New York federal judge that the state and federal regulators' bid to update their complaint against the remittance service is a "bad faith attempt" to "salvage" a case that should either be transferred to MoneyGram's home district of Texas or tossed entirely. Response attached | Read full article » <https://www.law360.com/compliance/articles/1863180?nl_pk=ab5ce197-c1fb-4d8e…> | Save to favorites » <https://www.law360.com/compliance/articles/1863180?nl_pk=ab5ce197-c1fb-4d8e…>

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Watchdog Says Zoom Call Doesn't Warrant Nixing $25.3M Deal
by Gunnar Larson 30 Jul '24

30 Jul '24

Watchdog Says Zoom Call Doesn't Warrant Nixing $25.3M Deal <https://www.law360.com/health/articles/1863279?nl_pk=6422bbc2-a823-4be5-9a9…> By Alyssa Aquino The U.S. Government Accountability Office has refused to undo a $25.3 million contract to support the National Institutes of Health, unconvinced that the agency had revealed a bidder's proprietary information during a Zoom call with the eventual contract winner. Decision attached | Read full article » <https://www.law360.com/health/articles/1863279?nl_pk=6422bbc2-a823-4be5-9a9…> | Save to favorites » <https://www.law360.com/health/articles/1863279?nl_pk=6422bbc2-a823-4be5-9a9…>

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Legalization Org Taps Cannabis Atty As New Treasurer
by Gunnar Larson 30 Jul '24

30 Jul '24

Legalization Org Taps Cannabis Atty As New Treasurer <https://www.law360.com/cannabis/articles/1863355?nl_pk=c844ee6a-f80e-4e60-b…> By Sam Reisman The pro-legalization advocacy organization Marijuana Policy Project announced Monday that a preeminent member of the cannabis bar had been tapped as the group's newest treasurer. Read full article » <https://www.law360.com/cannabis/articles/1863355?nl_pk=c844ee6a-f80e-4e60-b…> | Save to favorites » <https://www.law360.com/cannabis/articles/1863355?nl_pk=c844ee6a-f80e-4e60-b…>

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