- REUTERS/Brendan McDermid/File Photo
Good morning! This is the tech news you need to know this Monday.
- Ride-hailing firm Uber went public on Friday, raising $8.1 billion after pricing its IPO at the low end of its range. First day trading didn’t go especially well, with the shares closing 8% below its IPO price.
- Emil Michael, a former high-ranking executive at Uber, told CNBC that Uber’s first day was a disappointment because investors do not properly understand how valuable the company is. He said that the company’s work on autonomous driving technology will drive future growth and reinvigorate the share price.
- Facebook CEO Mark Zuckerberg responded to one of his cofounders, Chris Hughes, calling for the breakup of Facebook. Zuckerberg told a French broadcaster that a breakup “isn’t going to do anything to help.”
- Facebook is hiring a bevy of new lawyers and policy experts with expertise in competition law. The job openings come as a cofounder of the social network calls for the company to be broken up under antitrust regulation.
- Tesla CEO Elon Musk will face trial for calling one of the divers that helped rescue the Thai boys’ soccer team a “pedo.” A federal court judge in Los Angeles set an October 22 trial date in a Friday court filing that rejected Musk’s attempt to dismiss a defamation lawsuit filed by British diver Vernon Unsworth.
- Google has shattered the privacy firewall with Nest, the once-independent smart thermostat company, according to an analysis by Ars Technica. Users will now have to turn their Nest data over to Google, where previously the two had been separate.
- Google’s software for making people less addicted to their phones may be slowing down the Pixel. As reported by The Verge, Pixel users on Reddit say the Digital Wellbeing software is impacting their phone’s performance.
- A new study has found that Uber and Lyft are the biggest contributors to San Francisco’s traffic congestion. That’s despite both firms arguing that their companies can help reduce car ownership and, subsequently, traffic.
- Far-right trolls are looking to disrupt the upcoming European elections by copying the misinformation techniques used by accounts linked to Russia, according to the New York Times. The far-right groups often echo Kremlin talking points.
- Loyalty programmes, which increasingly hoover up large amounts of personal data, have become an attractive target for hackers. Experts say they are easy to sign up for and people often use flimsy passwords.
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