DawentsIT: All Things Technology news you need to know this Thursday-
1.Reddit day traders are upending the stock market. Members of the group Wall Street Bets have formed a snowballing momentum trade as posts go viral, fuelling the stock price of games retailer GameStop and others.
2.Google hired a lawyer to investigate a DeepMind cofounder. Mustafa Suleyman moved to Google’s in-house team in late 2019 following an investigation into claims of bullying.
3.Trading platforms fell over amid the frenzy. Thousands of users reported issues with Vanguard, TD Ameritrade, and Charles Schwab’s trading platforms.
4.Google reshuffled its AI leadership.The search firm has changed the reporting line of a senior manager who was involved in the AI ethicist Timnit Gebru’s termination in December, Insider has learned.
5.Apple demolished first-quarter earnings estimates. It set a new record during its fiscal first quarter with $111.4 billion in revenue.
6.Discord banned the r/WallStreetBets server. Discord said the group violated its policies on hate speech.
7.Google hasn’t add its App Store privacy labels. After promising it would comply with Apple’s rules about adding detail on the information gathered by its apps, Google still has not.
8.ByteDance India is reportedly laying off staff. As TikTok remains banned in India, its parent firm is considering laying off nearly 2,000 employees, Entrackr reported.
9.GameStop’s challenges indicate the run can’t last. As more people buy video games through digital storefronts, fewer buy games on physical discs, and GameStop is in the business of selling physical discs.
10.The inside story of Clubhouse. While the audio app is worth $1 billion, its founders are not overnight successes and have been building social apps for a decade.