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Shawn Tsao, 34, co-founded food delivery app Caviar in 2012 with four of his college classmates and fraternity brothers from the University of California, Berkeley. Before Caviar, Tsao and his co-founders created on Munch On Me, a daily deals app for food. In the ensuing weeks, they decided to switch to an on-demand food delivery app — a novel concept at the time. In 2014, Jack Dorsey's payments company Square — now known as Block — acquired Caviar in an all-stock deal worth more than $100 million, according to Tsao. Five years later, rival food delivery company DoorDash purchased Caviar from Square in a deal worth $410 million.

Persons: Shawn Tsao, Munch, Jack, Tsao Organizations: University of California Locations: Berkeley

☆ US regulator probes Twitter security lapse before Musk took over - Bloomberg News
▼ + stars: | 2023-10-10 | by ( ) www.reuters.com time to read: +1 min

The logo for social media platform X, following the rebranding of Twitter, is seen covering the old logo in this illustration taken, July 24, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsOct 10 (Reuters) - The U.S. securities regulator is investigating how Twitter managed a 2018 security lapse that exposed personal user information before billionaire Elon Musk bought the social media platform last year, Bloomberg News reported. A bug on the social media platform had let outsiders view user email addresses during password resets, which revealed the identity of users, Bloomberg News said. Musk renamed the social media platform as X following the acquisition. Reporting by Chavi Mehta in Bengaluru; Editing by Shailesh Kuber and Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Elon Musk, Jack Dorsey, Ned Segal, Parag Agrawal, Musk, Chavi Mehta, Shailesh Kuber, Shounak Organizations: Twitter, REUTERS, Bloomberg News, SEC, Thomson Locations: U.S, Bengaluru

Instead, he's a co-founder of a $400 million food delivery company. Tsao launched the company, Caviar, with four of his best friends from the University of California, Berkeley in 2012. Building "Groupon for food" didn't work, "so we were like, 'Let's be the Uber for food.'" 'We just blew up'At the time, most of today's food delivery apps didn't exist yet. Five college friends founded Caviar in 2012, at a time when GrubHub and Seamless were the only major online food delivery businesses.

Persons: Shawn Tsao, he's, Tsao, Jack, Uber, Frank Lloyd Wright, Frank Gehry, Abel Lin, Andy Zhang, Richard Din, Jason Wang, —, Munch, Groupon, didn't, Postmates, DoorDash, Andreessen Horowitz, Wang Organizations: University of California, CNBC, Investors, Tiger Global Management Locations: Berkeley, Francisco, U.S, Miami

☆ Great news — social media is falling apart
▼ + stars: | 2023-10-03 | by ( Shubham Agarwal | ) www.businessinsider.com time to read: +14 min

And I'm not alone: People are spending less and less time on social media. But instead of spelling the death of social media, it may be the beginning of a better era. Welcome to the Great Social Media Splintering. One recent study found social media could cause an increase in eating disorders and poor body image in men and women. Studies have found that news overload from social media can cause stress, anxiety, fatigue, and lack of sleep.

Persons: I've, haven't, I'm, it's, Ben Grosser, Harvard University's Berkman Klein, media's, TikTok, Chand Rajendra, Rebecca Rinkevich, Mike McCue, Jack Dorsey, Steve Teixeira, Rajendra, Nicolucci, Shubham Agarwal Organizations: Facebook, Twitter, Great Social Media, Harvard, Harvard University's Berkman Klein Center, Internet & Society, University of Massachusetts Amherst, Institute, Rebooting Social Media, Mastodon, Mozilla, Wired, Company Locations: Instagram, Google's, India, Brazil, Facebook, Ahmedabad

☆ Welcome to the Great Internet Splintering
▼ + stars: | 2023-10-03 | by ( Shubham Agarwal | ) www.businessinsider.com time to read: +14 min

But instead of spelling the death of social media, it may be the beginning of a better era. Welcome to the Great Social Media Splintering. One recent study found social media could cause an increase in eating disorders and poor body image in men and women. The fatigue I have felt is therefore partly fueled by another, more-pressing concern: Which social network should I bank on? But until it emerges, I expect to continue living a splintered and nomadic online social life.

Persons: I've, haven't, I'm, it's, Ben Grosser, Harvard University's Berkman Klein, media's, TikTok, Chand Rajendra, Rebecca Rinkevich, Mike McCue, Jack Dorsey, Steve Teixeira, Rajendra, Nicolucci, Shubham Agarwal Organizations: Facebook, Twitter, Great Social Media, Harvard, Harvard University's Berkman Klein Center, Internet & Society, University of Michigan, Institute, Rebooting Social Media, Mastodon, Mozilla, Wired, Company Locations: Instagram, Google's, India, Brazil, Facebook, Ahmedabad

☆ Top investor shares his No. 1 counterintuitive strategy for making tough decisions—it's something 'you haven't even considered'
▼ + stars: | 2023-09-27 | by ( Megan Sauer | ) www.cnbc.com time to read: +3 min

Sequoia Capital managing partner Roelof Botha has a strategy for making tough decisions. He cited Dorsey's own payments business Block, where Botha sits on the company's board, as an example. The company officially launched Square Cash, now known as Cash App, in October 2013. Block now has a market cap of $26.82 billion, as of Wednesday afternoon, and Cash App is responsible for half of its revenue, Botha said. Having a third option helped Block cut what wasn't working, and invest in projects that helped make the company profitable.

Persons: Roelof Botha, Botha, Jack Dorsey, Dorsey, it'd Organizations: Sequoia Capital, YouTube, Starbucks, PayPal, CNBC

☆ Block Inc's Square enters Canadian pot market with Jane Technologies as partner
▼ + stars: | 2023-09-20 | by ( Sourasis Bose | ) www.reuters.com time to read: +2 min

The logo for Square, Inc. is seen on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., August 3, 2021. REUTERS/Andrew Kelly Acquire Licensing RightsSept 20 (Reuters) - Square, a unit of fintech company Block Inc (SQ.N), said on Wednesday it would enter the Canadian cannabis market through a partnership with e-commerce platform Jane Technologies. Those who sign-up with Square for payments systems in physical stores would also be able to use Jane's platform for selling their products online, the companies said. Jane had entered Canada by partnering pot firm High Tide (HITI.V) in 2021. Rosenfeld said when regulations would allow for it, Jane is prepared to move this partnership beyond Canadian borders.

Persons: Andrew Kelly, —, Jack Dorsey, Jane, Roshan Jhunja, Socrates Rosenfeld, Rosenfeld, Sourasis Bose, Shilpi Majumdar Organizations: Inc, New York Stock Exchange, REUTERS, Block Inc, Jane Technologies, Twitter, Reuters, Thomson Locations: Manhattan , New York City, U.S, Ontario, Canada, Bengaluru

☆ Square CEO Alyssa Henry is stepping down, and Jack Dorsey will take over for now
▼ + stars: | 2023-09-18 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +1 min

CNN —Alyssa Henry, the CEO of Square – a unit of Jack Dorsey’s fintech company, Block – will leave her post at the company next month. Henry, who has worked at Block for over nine years, will step down as chief executive of Square on October 2, according to a regulatory filing on Monday. Dorsey, whose current title is Block Head and Chairperson, will take on an additional role of “Square Head,” the filing added. Henry served in various roles at Square and has been effectively leading the company since 2015. Prior to Square, she held roles at Amazon Web Services and Microsoft.

Persons: Alyssa Henry, Jack Dorsey’s fintech, Henry, Dorsey, “ Organizations: CNN, “, Amazon Web Services, Microsoft

☆ I Was Attacked by Donald Trump and Elon Musk. I Believe It Was a Strategy To Change What You See Online. - The New York Times
▼ + stars: | 2023-09-18 | by ( Yoel Roth | ) www.nytimes.com time to read: +3 min

The timing of the campaign targeting me and my alleged bias suggested the attacks were part of a well-planned strategy. But the success of a strategy aimed at forcing social media companies to reconsider their choices may not require demonstrating actual wrongdoing. What happened to me was part of a calculated effort to make Twitter reluctant to moderate Mr. Trump in the future and to dissuade other companies from taking similar steps. of Twitter, overruled Trust and Safety’s recommendation that Mr. Trump’s account should be banned because of several tweets, including one that attacked Vice President Mike Pence. So Twitter only disclosed the campaign over a year later, without fingering the Indian government as the perpetrator.

Persons: Rich Bond, Trump, Jack Dorsey, Mike Pence, Marjorie Taylor Greene, —, Vladimir Putin Organizations: Republican, Capitol, Twitter, Apple, Google Locations: Silicon, TikTok, India, Moscow

☆ Opinion | Is ‘Peak Woke’ Behind Us or Ahead?
▼ + stars: | 2023-09-16 | by ( Ross Douthat | ) www.nytimes.com time to read: +1 min

The attempts to use “woke capital” to effect progressive change have met strong resistance, and corporations are losing enthusiasm for a vanguard role. Meanwhile, there is more intellectual and political energy in anti-wokeness now, evident not just in backlash in red states but in this autumn’s roster of new books, which includes critiques of social justice ideology from the socialist left, the center left and the right. The Supreme Court’s ruling against affirmative action has created new legal roadblocks for Kendi-style progressivism. The mood in elite journalism is less ideologically committed and more skeptical and critical. These exemplify a different aftermath for “peak woke” — not the ideology’s retreat, but its consolidation and entrenchment.

Persons: Trump, Jack Dorsey, —, ”, “, Michael Powell’s, ” — Organizations: Antiracist Research, Boston University

☆ Elon Musk Takes Aim at the ADL - The New York Times
▼ + stars: | 2023-09-11 | by ( David Austin Walsh | ) www.nytimes.com time to read: +1 min

Elon Musk, one of the world’s richest men who is now most famous for running the website X, formerly known as Twitter, has a new excuse for the company’s shaky performance since he bought it last year. The problem, according to Mr. Musk, is the Jews. A 2018 report by the ADL noted that 4.2 million antisemitic tweets had been shared or re-shared on the platform in the previous year, before Twitter’s ban on extremist accounts took effect. Mr. Musk largely reversed those policies under the aegis of free speech. Mr. Musk also blamed a collapse in the company’s value — estimates place the company’s current worth at roughly one-third the $44 billion Mr. Musk paid for it — on the ADL, saying that he was considering legal action against the ADL and signaling that he supported banning the organization from X.

Persons: Elon Musk, Musk, @ADL ”, “, Jack Dorsey Organizations: Twitter, Defamation, ADL Locations: Nazi

☆ Opinion | Elon Musk’s Antisemitism Problem Isn’t About Free Speech
▼ + stars: | 2023-09-10 | by ( David French | ) www.nytimes.com time to read: +2 min

Musk’s invocation of free speech is nothing new for him. Instead of creating a platform for free speech, Musk created a platform for Musk’s speech — or, more precisely, Musk’s power. First, he has demonstrated that he’s perfectly willing to take action against people or entities that challenge him or challenge X. Second, rather than create a free marketplace of ideas, Musk uses X as a marketplace where you can pay to privilege your thoughts. It directs a human tidal wave of attention — some 140 million Elon Musk fans — to their accounts.”Taken together, all of these factors mean that Twitter isn’t so much a free speech paradise as the generalissimo’s playpen, and the generalissimo’s values shape everything about the place.

Persons: loftily, ”, Jack Dorsey, —, that’s, Musk, “, revel Organizations: Twitter, Foundation, Rights, Elon

☆ Opinion | The Paranoid Style in American Plutocrats
▼ + stars: | 2023-08-28 | by ( Paul Krugman | ) www.nytimes.com time to read: +2 min

To value the scientific consensus, in other words, you have to have some respect for the whole enterprise of research and understand how scientists reach the conclusions they do. You can understand how the person in the street might not get what scientific research is all about. But you might think that businesspeople, especially those who’ve made money in technology, would appreciate the value of research and technical expertise. Indeed, there’s a widespread belief that the generations-old system of fiat money issued by governments is a Ponzi scheme that will collapse into hyperinflation any day now. It’s happening.”Now, I’m quite willing to admit that monetary economics isn’t as solid a science as epidemiology or climatology.

Persons: who’ve, Anil Dash, “ V.C, Jack Dorsey’s, I’m

☆ Billionaire CEOs said working from home made them happier. Some now want to fire workers who don't show up to the office.
▼ + stars: | 2023-08-28 | by ( Polly Thompson | ) www.businessinsider.com time to read: +14 min

AdvertisementAdvertisementThe Meta CEO told staff they could expect him to spend half of the next year working remotely. True to his word, in his first week Musk banned remote work in a 2:30 a.m email to Twitter staff. Still: Unlike some of the other wealthy CEOs on this list, Eric Yuan has always been a little skeptical of permanent remote work. Roy RochlinSalesforce CEO Marc Benioff was initially outspoken in his support for remote working. Joining the growing list of CEOs that say remote work is not conducive to productivity, Salesforce revised its work-from-anywhere strategy.

Persons: Mark Zuckerberg, Goldman Sachs, Prithwiraj Choudhury, Zuckerberg, Meta, I've, Erin Scott, Skip, Insider's Kali Hays, Hugh Langley, Evan Spiegel, Miranda Kerr, Pierre Mouton, Stringer, Spiegel, I'm, ERIC PIERMONT, Kali Hays, Jack Dorsey, PRAKASH SINGH, lockdowns, Dorsey, Elon Musk, Musk, Zoe Schiffer, hasn't, Eric Yuan, Kena, Zoom, Kelly Steckelberg, Yuan, Marc Benioff, Roy Rochlin, Salesforce, Benioff, Justin Sullivan, Kara Swisher Organizations: Service, Meta, Harvard Business School, Wall Street, Staff, CNBC, Getty, Twitter, San, New, Elon, San Francisco, Bloomberg, Zoom, Workers, MarketWatch, Smith, Yahoo Finance, Insider Locations: Wall, Silicon, San Francisco, Singapore, Silicon Valley , California

☆ Jack Dorsey quit Instagram and entered the Musk-Zuckerberg fight, posting on X (formerly Twitter) that he's going 'Meta free'
▼ + stars: | 2023-08-18 | by ( Charissa Cheong | ) www.businessinsider.com time to read: +3 min

Twitter co-founder Jack Dorsey said he deleted his Instagram account in a post on X. He also said he does not have Whatsapp or Facebook and is going "Meta free." Twitter co-founder Jack Dorsey seems to have taken a side in Elon Musk and Mark Zuckerberg's fight, saying he had abandoned Instagram and gone "Meta free." Dorsey has seemingly poked jabs at Zuckerberg's Threads in previous posts on X. Dorsey told Vanity Fair in 2013 he was "heartbroken" when he learned that Facebook had acquired Instagram under Twitter's nose.

Persons: Jack Dorsey, Dorsey, Elon Musk, Mark Zuckerberg's, Elon Musk's, Mark Zuckerberg, Musk, Meta, Zuckerberg, Sarah Frier, Zuckerberg's Organizations: Twitter, Elon, Facebook, Bloomberg, Zuckerberg

☆ ‘Bored Apes’ investors sue Sotheby’s, Paris Hilton and others as NFT prices collapse
▼ + stars: | 2023-08-17 | by ( Christy Choi | ) edition.cnn.com time to read: +5 min

CNN —A group of investors is suing Sotheby’s Holdings Inc. and others over a 2021 auction and promotion of Bored Ape Yacht Club non-fungible tokens (NFTs) following a collapse in prices for the celebrity-endorsed collectibles. Sotheby’s is among 30 defendants named in the lawsuit, with celebrities like Justin Bieber and Paris Hilton also accused of promoting the NFT collection without disclosing their financial links to it. A spokesperson for Yuga Labs meanwhile said, via email: “We believe that these new allegations, like those in the previous iteration of this opportunistic complaint, are completely without merit or factual basis. “As a media and technology company, Yuga Labs has empowered strong communities of enthusiasts and entrepreneurs to innovate, connect, and build. The Bored Ape Yacht Club, a collection of 10,000 NFTs hosted on the Ethereum blockchain, launched in April 2021.

Persons: Yuga, Justin Bieber, Paris Hilton, Sotheby’s, NFTs, “, Jack Dorsey’s, LeBron James, “ Beeple, ”, ” —, MoonPay Organizations: CNN, Sotheby’s Holdings Inc, Paris Hilton, Labs, Yuga Labs, Twitter, Adidas, Securities and Exchange Commission Locations: California, freefall

☆ It's peak petty season for tech bros right now
▼ + stars: | 2023-08-16 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +4 min

Pettiness is the order of the day for prominent tech bros.Elon Musk, Mark Zuckerberg, and others are behaving similarly amid their rivalries with each other. It comes at an awkward moment: petty season has come straight after layoff season. Whatever the case, it's got tech bros stooping to new depths of pettiness. Musk's response, in peak petty fashion, was to suggest that he'd rock up at Zuck's home in Palo Alto and fight him there. Tens of thousands of tech workers have been laid off in recent months amid claims that they need to get serious.

Persons: Pettiness, Elon Musk, Mark Zuckerberg, it's, Dana White, Zuck, Satya Nadella, Microsoft's, OpenAI, Nadella, Jack Dorsey, Jeff Bezos Organizations: bros, Morning, New York Times, Facebook, Washington Post, UFC, Tech bros Locations: Silicon Valley, Musk's, Palo Alto, Zuck

☆ Musk's X delays access to content on Reuters, NY Times, social media rivals
▼ + stars: | 2023-08-16 | by ( Sheila Dang | ) www.reuters.com time to read: +2 min

REUTERS/Carlos Barria/File Photo Acquire Licensing RightsAug 15 (Reuters) - Social media company X, formerly known as Twitter, delayed access to links to content on the Reuters and New York Times websites as well as rivals like Bluesky, Facebook and Instagram, according to a Washington Post report on Tuesday. A user on Hacker News, a tech forum, posted about the delay earlier on Tuesday and wrote that X began delaying links to the New York Times on Aug. 4. A spokesperson for the New York Times said it has not received an explanation from X about the link delay. A Reuters spokesperson said: "We are aware of the report in the Washington Post of a delay in opening links to Reuters stories on X. Bluesky, an X rival that has Twitter co-founder Jack Dorsey on its board, did not reply to a request for comment.

Persons: Carlos Barria, X, Elon Musk, Musk, Jack Dorsey, Sheila Dang, Kenneth Li, Deepa Babington Organizations: REUTERS, Social, Twitter, Reuters, New York Times, Facebook, Washington Post, SpaceX, Hacker, Thomson Locations: San Francisco , California, U.S, South Africa, Washington, Dallas

☆ Hindenburg Research targets $4.6 billion Kazakh brokerage for allegedly helping Russian oligarchs evade sanctions
▼ + stars: | 2023-08-15 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +3 min

Timur Turlov, CEO of Freedom Finance brokerage speaks to Reuters during the interview in the office in Moscow, Russia October 10, 2019. Freedom Holding Corp. was founded in Moscow in 2008, before later moving to Kazakhstan, and listed on the Nasdaq in 2019. After Russia invaded Ukraine early last year, U.S. sanctions essentially severed ties between American and Russian banks and companies. But according to a report from Hindenburg on Tuesday, those ties remain tight. One former senior executive alleged to Hindenburg that Russian money laundering was rampant.

Persons: Timur Turlov, Jack Dorsey's Block, Carl Icahn, Freedom, Hindenburg's, Hindenburg, OFAC, I've Organizations: Freedom Finance, Reuters, Hindenburg Research, Freedom Holding, Nasdaq, Freedom, noncompliance, U.S . Treasury Department's, Foreign Assets, SEC, European Union, Freedom's, Ukraine Locations: Moscow, Russia, Kazakhstan, Ukraine, Hindenburg, Russian, United Kingdom, Belizean

☆ Viking Global slashes Amazon and insurance positions, adds to bets in biotech
▼ + stars: | 2023-08-15 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Ole Andreas Halvorsen's Viking Global hedge fund slashed its holding in Amazon in the second quarter and stepped up bets in biotech, according to the latest 13F filing with the U.S. Securities and Exchange Commission . The so-called Tiger Cub's entirely new positions included a $78 million stake in Alibaba , $6.5 million in C3.ai and $132 million worth of chipmaker Nvidia . Viking Global also cut investments in the CSX railroad nearly 42%. Elsewhere, Viking Global purchased $278 million worth of Netflix stock in the second quarter and opened a $159 million position in shipping giant UPS . Viking Global managed about $24 billion in 13F securities at the end of the second quarter, according to WhaleWisdom.com .

Persons: Ole Andreas Halvorsen's, Halvorsen, Julian Robertson, Jack Dorsey's Block, Phillip Morris, Philip Morris Organizations: Ole Andreas Halvorsen's Viking Global, U.S . Securities, Exchange Commission, Viking Global, Tiger Management, Nvidia, Viking, CSX, TJX, Meta, Netflix, UPS, Chubb Limited, Tenet Healthcare, General Electric, UnitedHealth Group, Constellation Energy, GE Locations: Ole Andreas Halvorsen's Viking, Alibaba, Viking, Progressive

☆ D1 Capital slashes big tech holdings and adds new bet on hotels, real estate
▼ + stars: | 2023-08-14 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Sundheim also added 59% to a position in Jack Dorsey's Block in the second quarter, now worth $101 million. D1 also exited its position in tech giants Amazon , Alibaba and Salesforce in the second quarter, the filing showed, and sold 21% of a stake in Google parent Alphabet. Meanwhile, D1 added new semiconductor holdings. Elsewhere, D1 added to positions in General Electric , Insulet and Elevance Health . The firm managed about $27 billion at the end of the second quarter, according to WhaleWisdom.com , including about $5 billion in 13F securities.

Persons: Dan Sundheim's, Sundheim, Jack Dorsey's Block Organizations: Capital Partners, U.S . Securities, Exchange Commission, Facebook, Microsoft, AMD, Nvidia, General Electric, Elevance Health, Nation Entertainment Locations: Hilton

☆ Stocks making the biggest moves midday: Amazon, Apple, Block, Tupperware and more
▼ + stars: | 2023-08-04 | by ( Alex Harring | ) www.cnbc.com time to read: +6 min

Apple reported earnings per share for the fiscal third quarter of $1.26, 7 cents more than expected by analysts polled by Refinitiv. The company posted adjusted earnings of $37.62 per share on revenue of $5.46 billion in the second quarter. Fortinet posted 38 cents in adjusted earnings per share, while analysts polled by Refinitiv expected 34 cents per share. Dropbox posted 51 cents in adjusted earnings per share, while analysts surveyed by Refinitiv anticipated 46 cents. The company reported adjusted earnings per share of 18 cents Thursday, topping the 10 cents expected from analysts polled by StreetAccount.

Persons: Tupperware, Carl Icahn's, Hindenburg, Jack Dorsey, Nikola —, Nikola, Fortinet, Refinitiv, Opendoor, DraftKings, Dropbox, Sprout, Raymond James, —, Samantha Subin, Hakyung Kim, Pia Singh, Michelle Fox, Yun Li Organizations: Apple, Refinitiv, Revenue, Holdings, Icahn, Fortinet, Technologies, Refinitiv . Revenue, Tagger Media, Exchange, Citi, StreetAccount, Petrobras —, JPMorgan Locations: U.S, Canada

☆ Dorsey-led Block raises 2023 earnings outlook after Q2 beats estimates
▼ + stars: | 2023-08-03 | by ( Nupur Anand | ) www.reuters.com time to read: +1 min

The company reported net revenue of $5.53 billion in the three months ended June, compared with $4.4 billion a year ago, beating Refinitiv estimates. The fintech, which offers merchant payment services and an app that lets people trade cryptocurrency, said gross profit in the quarter rose 27% to come in at $1.87 billion. It also revised its earnings before interest, taxes, depreciation and amortization outlook for 2023 to $1.5 billion up from an earlier forecast of $1.3 billion. Cash App, the company’s mainstay online payments service, increased gross profit by 37% to $968 million, while its Square business reported gross profit of $888 million, up 18% from last year. On an adjusted basis, Block earned 39 cents in the second-quarter, beating analysts' estimates of 36 cents, according to Refinitiv IBES data.

Persons: Dado Ruvic, Jack Dorsey, Dorsey, Block, Nupur Anand, Jonathan Oatis, Susan Heavey, Sonali Paul Organizations: REUTERS, Thomson Locations: New York

☆ Dorsey-led Block reports rise in second-quarter revenue
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: 1 min

Block Inc logo is seen displayed in this illustration taken, April 10, 2023. REUTERS/Dado Ruvic/IllustrationNEW YORK, Aug 3 (Reuters) - Block Inc (SQ.N) reported a rise in second-quarter revenue on Thursday as payment volumes at the fintech giant led by Jack Dorsey held up against a tough economic backdrop. The company reported net revenue of $5.53 billion in the three months ended June, compared with $4.4 billion a year ago. Reporting by Nupur Anand in New York; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Jack Dorsey, Nupur Anand, Jonathan Oatis Organizations: REUTERS, Thomson Locations: New York

The latest rival, Threads, was launched by Facebook-parent Meta and got a stunning start earlier this month. Facebook … when you’re looking for community (or used furniture)With more than 2 billion daily users around the world, it’s tricky to describe the stereotypical Facebook user. Pinterest … when you’re looking for inspirationPinterest lets users easily search for and organize visual-heavy inspiration on a wide range of creative topics. Twitter (aka X) … when you’re looking for what’s going on (for now)For years, Twitter was a central hub for real-time news. Threads … when you’re looking for musings from your favorite influencers, celebs and journalistsThe latest Twitter competitor, Threads, was launched by Facebook and Instagram parent company Meta.

Persons: Elon Musk, Instagram, it’s, Pinterest, “, Snapchat, Charlie, “ David, ”, Nextdoor, Twitch …, Long, Donald Trump, Reddit, Musk, influencers, Jack Dorsey, Alexandria Ocasio Cortez, Chrissy Teigen Organizations: CNN, Facebook, —, YouTube, LinkedIn, Capitol, Trump, Twitter, Meta, Democratic Rep Locations: Italy

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