Every week we present the latest startup, tech, and innovation news from around the world to keep you updated on the latest happenings. Let’s dive into this week's top 5 stories. >>
Photo credit: Coindesk
# 1 Jack Dorsey Launches a Beta For His New Social Media Company, Bluesky Social
Jack Dorsey, Twitter co-founder and former CEO, launches Bluesky Social – a decentralized social media platform controlled by users with data free from government influence. The beta test for the new platform had 30,000 users sign up within 2 days of the news. Bluesky Social hopes to support "a new foundation for social networking which gives creators independence from platforms, developers the freedom to build, and users a choice in their experience."
The announcement comes at an interesting moment with Elon Musk officially buying Twitter at the end of October. The new chief twit and former Twitter CEO had spoken during the months of legal back and forth for Twitter’s purchase. Dorsey explained to Musk in messages that have now become public, "A new platform is needed. It can't be a company. That's why I left."
Photo credit: Canada Today
#2 Binance Backs Out of Buying FTX in Crypto Megadeal
Binance, the world's largest cryptocurrency exchange, was set to acquire rival FTX after signing a nonbinding agreement recently but has now backed out of the deal. FTX experienced a "significant liquidity crisis" and looked to Binance for help. The crypto exchange would have fully acquired FTX and helped cover the costs related to the liquidity circumstances.
However, Binance decided to walk away from the deal just one day after announcing it. “The issues are beyond our control or ability to help,” Binance said in a tweet. A feud had been spewing over the last year between Binance CEO Changpeng Zhao and FTX CEO Sam Bankman-Fried. This latest flaky behavior is surely just adding fuel to the flames…
Photo credit: Carina Johansen/Getty Images
#3 Elon Musk Ends Remote Working at Twitter
Don’t you love getting 2:30 AM emails from your boss? We neither, but Elon Musk felt like it was the perfect time to tell workers at Twitter that remote work at Twitter was no longer allowed. In his first email to employees, Musk ordered staff back to the office for at least 40 hours a week.
Citing the current economic crisis and the need to increase revenue (hello $8 checkmarks) as his main reasons for the switch Musk also told Twitter employees "the road ahead is arduous and will require intense work to succeed."
Photo credit: VivaTech
#4 Google is working with Renault to build a "vehicle of tomorrow"
Google partners with Renault to develop a software-defined vehicle. The car will be based on Google’s existing Android Auto software and will have a digital twin that will be developed from AI to help it get continuous updates and features. The companies say this new smart vehicle will bring together the best of the automotive and digital worlds – the vehicle of tomorrow.
Photo credit: The Korea Economic Daily
#5 LG develops the world’s first full-color stretchable display
LG Electronics, the major South Korean display panel maker, unveils the world’s first full-color stretchable display, surpassing all existing gadget tech. The display’s size can be extended by 20% and still maintain a high picture quality thanks to the highly elastic silicon normally used in contact lenses.
These stretchable displays could be used to stretch over odd-shaped surfaces like clothing, furniture, or wearables, for example in special uniforms for first responders in emergencies, or even adapt entire screens to add bumps for the visually impaired.
That’s it for this week. We’ll see you in a week for the next roundup!