Reddit reported a breach from June 14 – June 18. Hackers managed to break into Reddit’s systems and gain access to private messages and users’ personal information. Users that joined the platform in Reddit’s early days (2005-2007) were at risk during the hack and Reddit is requiring all users that signed up during that time to reset their passwords.
MoviePass CEO Mitch Lowe announced that the company will focus their new strategy on the “occasional moviegoer.” Lowe reported that the company struggled because 40% of cost came from 15% of subscribers who used their MoviePass 4+ times per month. The CEO announced that they will be limiting users to three movies per month with their MoviePass subscription.
Elon Musk tweeted that he plans to take Tesla private at $420 per share and has “funding secured.” The tweet caused an uproar among shareholders. After the backlash over the tweet, Musk admitted to The New York Times in an exclusive interview that being CEO of Tesla has taken a physical and emotional toll on his life, and that he hasn’t taken more than a week off since 2001. The comment then launched an SEC investigation to see if the tweet was truthful.
The New York City Council passed a bill that will require Uber and Lyft to pay their drivers minimum wage. The bill is also putting a hold on all new hires for drivers in NYC due to an increase in traffic. The hold will go into effect 120 days after the bill officially becomes law. Uber has been required to treat NYC drivers as employees rather than contractors and they are now eligible for unemployment benefits.
Spotify is testing a new feature in Australia that allows free unlimited ad skips. The feature isn’t meant to discourage ad sales, actually quite the opposite. Spotify is planning on using the feature to more accurately target users by collecting data on the ads they decide to consume rather than skip. The music app will then use that data to drive ad sales.
The Associated Press conducted an investigation that determined that devices running on Google’s Android system and Google apps running on iPhones are tracking users’ locations even if they have turned off location services in their settings. The study conducted by a Princeton University researcher shows how Google was tracking his location through his phone even though he turned off his location.
Slack has recently secured an additional $1.27 billion in venture capital taking them to over $7 billion in valuation. The work chat app has rocketed to success making it more difficult for a larger tech company to buy them. Slack has become a larger threat to Microsoft because it is a competitor of their product – Microsoft Teams. Microsoft recently launched a free version of teams to become more competitive with Skype.
Check back next month for more tech hot news!