Here are the latest news from the world of technology. News we think every tech enthusiast should keep an eye on.
Twitter’s head of trust and security, Ella Irwin, is stepping down
Twitter’s head of trust and security, Ella Irwin, resigned on Thursday, becoming the latest executive to leave the microblogging company. The sudden resignation of Irwin, who is responsible for content moderation, is likely to raise further concerns about Twitter’s ability to curb misinformation and fake news. In the past, Musk has been a vocal critic of Twitter’s moderation policies, calling them restrictive and arbitrary. Irwin is the first top executive to step down since Musk announced Twitter’s new CEO last month. Musk’s acquisition of Twitter last year led to the departure of many top executives, including the CEO (Parag Agarwal), the CFO, the Chief Legal Officer and the Chief Privacy Officer.
Meta officially launches Quest 3 at $499
Meta’s latest Quest 3 headset was finally announced on Thursday. The headphones will be available for sale in the fall. It has a starting price of $499.99 for the 128GB model and $599.99 for the 256GB model. The Meta Quest 3 has many new features, including a new design that is 40% thinner and lighter than its predecessor and a new touch plus controller that has been redesigned for a more comfortable and ergonomic experience. Meta’s latest headset will compete with premium headsets like Valve Index and HTC Vive Pro 2. Despite Meta’s failed experiment with Metaverse, the social media giant still has serious plans for the VR/AR headset market.
Airbnb sues New York City over rental restriction
Homestay Airbnb has filed a lawsuit against New York City over New York’s latest decision to impose restrictions on short-term rentals. New York’s new law, which takes effect next month, makes it mandatory for hosts to register with the city and pay an annual fee of $200. In addition, the law limits the number of days a short-term rental can be rented per year to 120 days. In its lawsuit, Airbnb has described the new law as unconstitutional. The new lawsuit is a sign of Airbnb’s growing regulatory problems in the US. The company has faced similar regulatory hurdles in other cities, including San Francisco, Boston and Los Angeles.
Elon Musk is once again the richest man in the world
Elon Musk regained the title of the world’s richest man on Thursday, according to Bloomberg Billionaire Tally. He ousted LVMH CEO Bernard Arnault, who had been in the number one position for a few months. Musk’s net worth crossed 8 billion on June 1, 2023 after Tesla’s share price witnessed a surge in the past few days. The electric car maker has seen its share price more than double since the start of the year, largely due to strong demand for Tesla cars and the company’s plans to expand its production capacity. Musk’s wealth is also being boosted by his other companies, including SpaceX and Neuralink.
Fidelity Cuts Its Equity Rating on Reddit 41%
Fidelity Investments has slashed the value of its Reddit stake by more than a third. Fidelity had invested nearly $28 million in Reddit in August 2021. According to reports, Fidelity has reduced its value from $61.79 to $39.65 per share. That’s a nearly 41% decline from its investment in 2021. Fidelity isn’t the only investor to cut Reddit’s valuation. A few months ago, another high-profile investor, Tiger Global Management, also downgraded. It’s unclear whether these developments will have any effect on Reddit’s plan to go public. The company confidentially filed for an IPO in October 2021, but has yet to set a date for its debut.
Ella’s time in this role was marked by her efforts to ensure that the social media giant remained a safe and secure platform for users and to protect them from malicious actors. A true leader in her field, Ella is a respected voice in the tech world for her forward-thinking approaches to cyber security, and her legacy of data-driven security initiatives will continue to shape the way we interact with platforms like Twitter going forward.
Ella’s departure means we must find a new leader to take her place at the helm of Twitter’s trust and safety. At Ikaroa, we strongly believe that it is vital that we continue to prioritize trust and safety as tech companies, ensuring that users can trust the platform they interact with and feel safe from potential risks.
We express our most sincere gratitude to Ella for her many accomplishments, her inspiring vision, and her service to Twitter. We look forward to seeing who will be taking on this important role in the future.