A New York Post story forces social platforms to make (and in Twitter’s case, reverse) some difficult choices, Sony announces a new 3D display and fitness startup Future raises $24 million. This is your Daily Crunch for October 16, 2020.
The big story: Twitter walks back New York Post decision
A recent New York Post story about a cache of emails and other data supposedly originating from a laptop belonging to Joe Biden’s son Hunter looked suspect from the start, and more holes have emerged over time. But it’s also put the big social media platform in an awkward position, as both Facebook and Twitter took steps to limit the ability of users to share the story.
Twitter, in particular, took a more aggressive stance, blocking links to and images of the Post story because it supposedly violated the platform’s “hacked materials policy.” This led to predictable complaints from Republican politicians, and even Twitter’s CEO Jack Dorsey said that blocking links in direct messages without an explanation was “unacceptable.”
As a result, the company said it’s changing the aforementioned hacked materials policy. It will no longer remove hacked content unless it’s been shared directly by hackers or those “acting in direct concert with them.” Otherwise, it will label tweets to provide context. As of today, it’s also allowing users to share links to the Post story.
The tech giants
Sony’s $5,000 3D display (probably) isn’t for you — The company is targeting creative professionals with its new Spatial Reality Display.
EU’s Google-Fitbit antitrust decision deadline pushed into 2021 — EU regulators now have until January 8, 2021 to take a decision.
Startups, funding and venture capital
Elon Musk’s Las Vegas Loop might only carry a fraction of the passengers it promised — Planning files reviewed by TechCrunch seem to show that The Boring Company’s Loop system will not be able to move anywhere near the number of people the company agreed to.
Future raises $24M Series B for its $150/mo workout coaching app amid at-home fitness boom — Future offers a pricey subscription that virtually teams users with a real-life fitness coach.
Lawmatics raises $2.5M to help lawyers market themselves — The San Diego startup is building marketing and CRM software for lawyers.
Advice and analysis from Extra Crunch
How COVID-19 and the resulting recession are impacting female founders — The sharp decline in available capital is slowing the pace at which women are founding new companies in the COVID-19 era.
Startup founders set up hacker homes to recreate Silicon Valley synergy — Hacker homes feel like a nostalgic attempt to recreate some of the synergies COVID-19 wiped out.
Private equity firms can offer enterprise startups a viable exit option — The IPO-or-acquisition question isn’t always an either/or proposition.
(Reminder: Extra Crunch is our subscription membership program, which aims to democratize information about startups. You can sign up here.)
Everything else
FAA streamlines commercial launch rules to keep the rockets flying — With rockets launching in greater numbers and variety, and from more providers, it makes sense to get a bit of the red tape out of the way.
We need universal digital ad transparency now — Fifteen researchers propose a new standard for advertising disclosures.
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