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- Amazon & Snap earnings, Zipline valued at $4.2B, Clubhouse plans to cut 50%
Amazon & Snap earnings, Zipline valued at $4.2B, Clubhouse plans to cut 50%
Amazon Q1 earnings: total revenue: $127.4B (+9% y/y), subscription revenue: $9.7B (+15% y/y), ad revenue: $9.5B (+21% y/y), AWS revenue: $21.3B (+ 16% y/y), net profit: $3.2B; shares were down ~4% on Friday due to slowing AWS growth - Link
Snap Q1 earnings: revenue: $989M (-7% y/y), DAUs: 383M (+15% y/y), FCF: $103M, net loss: -$328.7M; shares were down ~17% on Friday due to missing revenue estimates - Link
Forbes sources: Zipline, a drone delivery startup, is raising a $330M Series F at a $4.2B valuation; part of the company’s success is due to launching in less-regulated areas of the world while awaiting US approval - Link
The EU began drafting legislation that would require any company deploying generative AI to disclose any copyrighted material used to develop their models - Link
Hyperice. Warm up and recover faster with the Hypervolt 2 massage gun and Normatec compression therapy boots. Save $50 off your order of $150 or more with code TWIST50 at checkout on hyperice.com.
Billy McFarland joins Jason to discuss the lessons he learned from the Fyre Fest fraud before discussing the festival's origin story and how he wound up in jail (1:36). This leads to an all-encompassing conversation about Billy's early days as an entrepreneur, his experience in prison, and if he is a changed man (13:46). - Link
Clubhouse will cut more than 50% of its ~100 employees as the once-popular social audio app struggles with declining user engagement post-COVID - Link
Manish Lachwani, the Co-Founder and former CEO of HeadSpin, pleaded guilty to wire fraud and securities fraud; HeadSpin operated a mobile app testing platform and raised $117M from investors like Tiger Global, GV, and Iconiq after Lachwani provided inflated metrics - Link
Coinbase officially responded to the SEC re: last month's Wells notice, stating the agency's analysis appeared to be based on superficial and incorrect analogies to other products; the company also noted that any regulatory action against it would present risks to the SEC's regulatory model - Link
Reddit is testing Discord-like chat channels in 25 selected subreddits, providing more ways for users to engage with each other - Link
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