Good morning! Here is the tech news you need to know this Tuesday.
1. Tech stocks lost more than $90 billion (£64.5 billion) in value on Monday, when the US stock market took a massive plunge. Facebook, Amazon, Netflix, and Google saw a fall in share price ranging from 2.8% to 5.1%, according to CNBC.
2. Silicon Valley’s trial of the decade has kicked off, with Google-owned Waymo accusing Uber of stealing its self-driving car IP and of wanting to win at any cost. Uber’s lawyers said there was “no cheating.”
3. Facebook is facing the first attempt to regulate US political ads on its platform, after Seattle’s election authorities accused the firm of violating a city law around disclosure. The social media firm must disclose payment details about last year’s city elections, or face penalties.
4. Intel has shown off Vaunt, a prototype pair of smartglasses that uses lasers to project images onto the wearer’s retina. Earlier media reports suggested Intel is looking for sales partners for its AR unit to help the smartglasses gain traction.
5. Securities and Exchange Commission (SEC) chairman Jay Clayton will tell Congress on Tuesday that he supports the regulation of bitcoin. It’s unlikely to mean trading will stop – rather that there might be more clarity about taxing bitcoin gains, and fewer fraudulent Initial Coin Offerings.
6. Apple pulled the Telegram messaging app from its App Store last week because the service was being used to share inappropriate images of children. The app was restored when Telegram’s team removed the content.
7. Twitter’s head of augmented reality and virtual reality has left the company after 18 months. Alessandro Sabatelli joined Twitter in 2016, but the firm has done little in AR or VR.
8. A group of early Facebook and Google employees have formed a coalition called the Centre of Humane Technology to counteract the negative effects of the products they helped build. The group will educate schoolchildren about the dangers of tech.
10. Spellcheck extension Grammarly has fixed a bug in its Chrome add-on that accidentally allowed access to users’ accounts, including documents and private data. More than 22 million users use the extension.