Frank Slootman, CEO of Snowflake, on the day of its 2020 IPO, Sept. 16th, 2020. CNBC Snowflake said Wednesday that CEO Frank Slootman is retiring, and will be replaced by Google ad chief Sridhar Ramaswamy. The shares plunged 20% in extended trading. Ramaswamy spent 15 years at Google, most recently leading Ads and Commerce until … Read more
U.S. President Joe Biden and Vice President Kamala Harris meet with (L-R) Senate Minority Leader Mitch McConnell (R-KY), House Speaker Mike Johnson (R-LA), Senate Majority Leader Chuck Schumer (D-NY), House Minority Leader Hakeem Jeffries (D-NY), on February 27, 2024 at the White House in Washington, DC. Roberto Schmidt | Getty Images U.S. President Joe Biden … Read more
The U.S. Supreme Court did not appear ready to resolve major questions related to free speech on social media and the regulation of digital platforms after arguments on Monday over two controversial laws passed by Republican-controlled legislatures in Florida and Texas. The lack of clarity over the outcome of the two cases, known as Moody … Read more
Pavlo Gonchar | Lightrocket | Getty Images Unity Software shares plummeted 17% in extended trading on Monday after the gaming software company issued weaker-than-expected guidance for the current quarter. Here’s how the company did: Earnings: Loss of 66 cents per share. The results may not be comparable to the 46-cent loss predicted by analysts, according … Read more
The US Supreme Court seems torn over whether to trigger a radical transformation of the internet. The nation’s highest court heard arguments Monday over state laws in Florida and Texas that restrict how platforms like Facebook and YouTube moderate speech. If the court lets them take effect, social media feeds could look very different, with … Read more
In 2021, Republicans in Florida and Texas enacted new laws limiting the ability of social media companies to moderate and remove content from users. The laws came amid a wave of real and perceived censorship of conservative viewpoints on sites like Facebook, Twitter, Instagram and YouTube, including the removal of former President Donald Trump from … Read more
Technology is so pervasive and invasive that it’s polarizing people, producing feelings of love and loathing for its devices, online services and the would-be visionaries behind them. Longtime Silicon Valley reporter Kara Swisher unwraps how we got to this point in her incendiary memoir, “Burn Book,” coming out Tuesday, an exposé that also seeks to … Read more
Reddit disclosed 2023 revenue growth of 20% and said its core business relies on online advertising sales when it filed to go public on Thursday. But the social media company can attract more than advertisers. “This is an AI play,” Herb Greenberg, Editor of “Herb Greenberg | On the Street” on Substack, explained on CNBC’s … Read more
Florida lawmakers have fast-tracked legislation that forces social media companies to keep most minors off their platforms. The legislation, which passed the state House Thursday after earlier being approved by the Senate, now heads to Gov. Ron DeSantis’s (R) desk, though he says he’s not quite ready to sign on. DeSantis told reporters Friday that … Read more
Reddit didn’t immediately respond to a request for comment for this story. Unwanted Offer Reddit’s investment offer to users is known as the Directed Share Program. “Because you have helped make Reddit what it is today, you now have the opportunity to become Reddit owners at the same price as institutional investors,” the company wrote … Read more
