Top Nike Exec Resigns, Robinhood Reportedly Secures $5.6 Valuation
A top Nike executive is stepping down over misconduct allegations. Brand president Trevor Edwards will resign from his position immediately but will stay on with the company through August. It was not immediately clear what sort of misconduct Edwards had engaged in. Nike sent an internal memo to employees saying it had received reports of behavior that was not in line with the company values of inclusivity, respect, and empowerment. Edwards, who's been with the company since 1992, was seen as a potential successor to the current CEO Mark Parker.
The popular stock trading app Robinhood is reportedly now worth $5.6 billion. According to a Wall Street Journal report, the company just get a new funding round of around $350 million from Russia's DST Global. That would make Robinhood worth $5.6 billion dollars, four times the amount its previous valuation of $1.3 billion. The app was introduced just three years ago and currently has 4 million users.
The Biden administration and major consumer technology players on Tuesday launched an effort to put a nationwide cybersecurity certification and labeling program in place to help consumers choose smart devices that are less vulnerable to hacking.
Elon Musk says Twitter is still losing cash because advertising has dropped by half. In a reply to a tweet offering business advice, Musk tweeted Saturday, “We’re still negative cash flow, due to (about a) 50% drop in advertising revenue plus heavy debt load.”
A First Amendment group sued Texas Governor Greg Abbott and others on Thursday over the state’s TikTok ban on official devices, arguing the prohibition – which extends to public universities – is unconstitutional and impedes academic freedom.
We've all heard the phrase time equals money. Well, Shopify has rolled out a meeting cost calculator in efforts to encourage people to empty their calendars of those unnecessary meetings.
ChatGPT-maker OpenAI and The Associated Press said Thursday that they've made a deal for the artificial intelligence company to license AP's archive of news stories.
