Quibi says it will shut down in early December
- Quibi is shutting down — we know that much for sure.
- If you’re looking to blast through all 25 episodes of the Reno 911 revival series before Quibi calls its quits, how long do you actually have?
- While it seems even Quibi isn’t 100% certain yet, they’ve at least now given users a rough idea of when they expect the plug to be pulled: early December.
- As spotted by Variety, a newly published support page on the Quibi site says streaming will end “on or about December 1, 2020.” The “about” suggests that the shutdown date isn’t fully locked quite yet, but it should be sometime around then.
- Will any Quibi shows find their way over to Netflix, Hulu, etc.?
- “At this time we do not know if the Quibi content will be available anywhere after our last day of service,” the company writes in a note on the same page.
Representatives propose bill limiting Presidential internet 'kill switch'
- While this was likely intended more for making sure official phone calls could get through in a national emergency, it’s possible that today it could be used as a measure to tamp down on protests and civil unrest, as we’ve seen in authoritarian regimes around the world.
- The Preventing Unwarranted Communications Shutdowns Act, from Rep. Anna Eshoo (D-CA) and Rep. Morgan Griffith (R-VA), doesn’t remove this ability, but adds several layers of accountability to it.
- In the first place, the bill would limit Section 706 use to when there is an “imminent and specific threat to human life or national security.” This prevents it from being put into play when there is a more general “threat” such as a major protest that might be too much for local police to handle.
- The bill would also require the president to inform the top layer of government officials, including opposition leaders, of any shutdown.
Senate subpoenas could force Zuckerberg and Dorsey to testify on New York Post controversy
- Republicans in the committee declared their interest in a hearing on “the platforms’ censorship of New York Post articles” after social networks limited the reach of a dubious story purporting to contain hacked materials implicating Hunter Biden, Joe Biden’s son, in impropriety involving a Ukrainian energy firm.
- Tech’s decision to take action against the New York Post story was bound to ignite Republicans in Congress, who have long claimed, with scant evidence, that social platforms deliberately censor conservative voices due to political bias.
- Earlier in October, the Senate Commerce Committee successfully leveraged subpoena power to secure Dorsey, Zuckerberg and Alphabet’s Sundar Pichai for testimony for their own hearing focused on Section 230, the critical law that shields online platforms from liability for user created content.
Daily Crunch: Facebook Dating comes to Europe
- Facebook’s dating feature expands after a regulatory delay, we review the new Amazon Echo and President Donald Trump has an on-the-nose Twitter password.
- Facebook Dating (which launched in the U.S. last year) allows users to create a separate dating profile, identify secret chats and go on video dates.
- Amazon Echo review: Well-rounded sound — This year’s redesign centers on another audio upgrade.
- Facebook adds hosting, shopping features and pricing tiers to WhatsApp Business — Facebook is launching a way to shop for and pay for goods and services in WhatsApp chats, and it said it will finally start to charge companies using WhatsApp for Business.
- Freelancer banking startup Lili raises $15M — It’s only been a few months since Lili announced its $10 million seed round, and it’s already raised more funding.
Quibi’s shortform life
- Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast (now on Twitter!), where we unpack the numbers behind the headlines.
- Myself, along with Danny and Natasha had a lot to get through, and more to say than expected.
- A big thanks to Chris for cutting the show down to size.
- It was a lot, but also very good fun.
- Look for clips on YouTube if you’d like, and we’ll chat you all next Monday.
- Equity drops every Monday at 7:00 a.m. PDT and Thursday afternoon as fast as we can get it out, so subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts.
Here's why Intel's stock just dropped 10% after reporting earnings
- Investors had expected Intel to report an adjusted $1.11 in per-share profit, off around 22% from the year-ago period.
- Notably, Intel beat revenue expectations with top line of $18.3 billion, and met earnings-per-share estimates of $1.11, on an adjusted basis.
- Off that weakness, the resulting top line miss was sharp, with the market expecting $6.22 billion in revenue and DCG only delivering $5.9 billion.
- The company also highlighted COVID-19 when it discussed results from its internet of things business and memory operation, which declined 33% and 11% on a year-over-year basis, respectively.
- Better than what it reported for Q3 2020, Intel’s forward guidance shows a small revenue beat versus expectations, and a small profit beat as well.
- Given that Intel is prepped to best expectations in Q4, it’s hard to pin its share-price declines on guidance.
Uber drivers sue company alleging coercive Prop 22 advertising
- Uber is facing a class-action lawsuit over Proposition 22 that alleges the company is illegally coercing its drivers to support the ballot measure that seeks to keep workers classified as independent contractors.
- The suit was brought forth by two Uber drivers, Benjamin Valdez and Hector Castellanos, as well as two California nonprofit organizations, Worksafe and Chinese Progressive Association.
- In the suit, provided by The New York Times reporter Kate Conger, the plaintiffs argue Uber has encouraged its drivers and delivery workers to support Prop 22 via the company’s driver-scheduling app.
- This group says it also plans to file legal claims against Uber, Lyft, Instacart and DoorDash with the California Labor Commissioner.
- Prop 22 is the most-funded campaign in California’s history.
- Uber, Lyft and DoorDash are the biggest contributors on the yes side.
- Meanwhile, the No on 22 campaign has contributed $12,166,063.
HBO Max hits 28.7M subscribers in Q3, but few are over-the-top
- Despite not being available on Roku, one of the top streaming platforms in the U.S., AT&T said new HBO Max activations more than doubled from second-quarter levels, reaching 8.6 million in Q3.
- In total, 28.7 million customers were eligible to stream their HBO Max subscription by the end of the quarter, the company said.
- In fact, some significant portion of these 8.6 million new “activations” may not yet even know that HBO Max exists — especially if the service is unavailable on their favorite streaming platform, like Roku.
- This will give Apple customers a way to stream from apps that haven’t launched on the Roku platform itself.
- AT&T also said it’s continuing to invest in HBO Max, having poured around $600 million in the service during Q3, bringing its investment to $1.3 billion for the year so far.
Announcing the Agenda for TC Sessions: Space 2020
- We’re thrilled to be hosting NASA Administrator Jim Bridenstine, Rocket Lab CEO and founder Peter Beck, U.S. Space Force Chief of Space Operations General Jay Raymond, Lockheed Martin VP and head of civil space programs Lisa Callahan and many more.
- In addition to the firesides and panel discussions of the virtual stage, the event will also include networking, startup presentations, and the chance to connect with attendees from around the world.
- Hear from the head of the U.S. Space Force what it takes to secure an entirely new war-fighting domain, and how the newest branch of the U.S. military will be looking to private industry to make it happen.
3 reforms social media platforms should make in light of 'The Social Dilemma'
- Despite the glaring issues present with social media platforms, people still crave digital attention, especially during a pandemic, where in-person connections are strained if not impossible.
- If a social platform is free for basic users but monetized by a subscription model, there is no need to use an information-gathering algorithm to determine which news and content are served to users.
- This type of platform is not a ripe target for manipulation because users only see information from people they know and trust, not advertisers or random third parties.
- It’s a technique that can be used to spread misinformation, which is especially dangerous for viewers who rely on social platforms for their news consumption, instead of traditional outlets.
- It’s time for platforms to take note and take responsibility for these needed changes, and opportunities will arise for smaller, emerging platforms taking a different, less-manipulative approach.