Mike Morhaime, who co-founded and worked at video game studio Blizzard for 28 years, has apologized publicly for toxic work conditions at his former studio, which is now the subject of a discrimination and harassment lawsuit by the state of California.
Why it matters: Morhaime is no longer at Blizzard, but was its leader for most of its existence and therefore was in charge when much of what is alleged in California’s suit would have occurred.
Over the past couple of weeks, VCs hoping to invest in buzzy cryptocurrency project SushiSwap haven't spent their time wining and dining entrepreneurs as usual. Instead, they were busy commenting in online forums and joining Discord audio chats — since their ability to invest hinges on getting approval from SushiSwap’s token holders.
Why it matters: This isn’t the first time VCs have needed to win over a vast cryptocurrency community, and it certainly won’t be the last.
There's a sharp divide in American journalism between haves and have-nots. While national journalists covering tech and politics on the coasts reap the benefits of booming businesses and book deals, local media organizations, primarily newspapers, continue to shrink.
Why it matters: The disparate fortunes skew what gets covered, elevating big national political stories at the expense of local, community-focused news.
Rivian, the electric truck startup, said Friday it had closed a $2.5 billion private funding round, bringing its total capital raised to date to $10.5 billion.
Why it matters: The money will help fund the company's next phase of growth, including a second U.S. assembly plant that will also include battery cell production. Reuters first reported the planned facility on Thursday.
Reaction to California’s explosive lawsuit against Activision Blizzard has been spreading online, as players and industry professionals express their disgust about its allegations.
Why it matters: This is no flash in the pan and is triggering new discussions about the problems with sexism in the industry overall.
The world is suffering from a shortage of silicon chips, making it harder to make and buy everything from cars to home appliances.
Axios Re:Cap talks with U.S. Commerce Secretary Gina Raimondo about efforts to improve domestic manufacturing, why it’s taking so long to pass the CHIPS Act and what can be done to help in the short-term. Plus, an important message from Dan.
Snapchat and Twitter on Thursday both reported record revenue growth for the second quarter of 2021 — an important indicator that as the ad market booms, social media companies are poised to reap the benefits of its growth.
Details: Snapchat reported its highest revenue and user growth numbers since 2018. Twitter's revenue grew 74% year-over-year for the quarter, its highest year-over-year growth period in seven years.
The future of urban air mobility is a lot closer than you think and could start changing the way cities work in just a few years.
The big picture: As roads get ever more congested, transportation is moving to the skies. Electric flying taxis will zip over choked highways, ferrying passengers among a network of "vertiports" around the city. From there, passengers can walk or use another mode of transportation to get to their final destination.
