Carolyn Everson, Facebook's former head of global ad sales, has joined Instacart as president, the company tells Axios.
Why it matters: She joins a growing list of former Facebook employees joining Instacart. Everson will report to the company's new CEO Fidji Simo, who was previously head of the Facebook app.
The Federal Trade Commission can't keep up with the "tidal wave" of mergers that need its careful scrutiny.
Driving the news: The FTC said Tuesday in a blog post that it won't be able to finish reviewing all the deals on its plate within its standard 30-day period — and that it will notify companies via form letter if a review remains open longer than 30 days.
Startups are getting close to being able to sell cultivated seafood products that have been grown from fish cells in a lab-like facility, rather than caught in the wild or farmed.
Why it matters: Developing cultivated animal protein that could compete with conventional products is a promising way for people to eat what they want without killing animals or damaging the planet.
With the Chinese government accelerating moves against its own tech industry, China is — for now — prioritizing Communist Party control of the domestic economy over aggressive international competition.
Why it matters: China and the U.S. are both playing a long game, with tech as the playing field, companies as the pieces and domination of the global economy as the stakes.
Ride-hailing company Lyft posted its first-ever profit on an adjusted EBITDA basis on Tuesday, along with $765 million in revenue for Q2 and a loss per share of $0.76.
Why it matters: The company now expects to reach full-year adjusted EBITDA profitability this year. With investor pressure to see gig economy companies get in the black, Lyft said in 2019 it would reach this milestone by the last quarter of 2021 (and that was before the pandemic forced everyone home for several months).
An investor group that has for over a year been critical of how Electronic Arts' top people are paid says it is only partially satisfied by the company's latest pledges.
Why it matters: EA shareholders issued a rare "no" vote on the company's executive pay last summer, and EA has laid out measures to address that.
Following a lawsuit filed by California against Activision Blizzard, allegations of harassment, misconduct, and assault continue to emerge from people who point to the company's HR department as being part of the larger problem.
Why it matters: Sources say the company's culture favors a clan mentality and functioned under a broken HR department that undermined and discounted victims' experiences, and did not protect their identities.
For the first time ever, a film distributor will use Facebook to debut a movie exclusively via a ticketed live event, executives tell Axios.
Driving the news: "The Outsider," a controversial documentary about the construction of the 9/11 Museum in Manhattan, will premiere publicly on Facebook for $3.99 on Aug. 19.
Blizzard president J. Allen Brack is out at Blizzard, two weeks after being named in an explosive lawsuit by the state of California involving misconduct at the company.
Why it matters: This is the most concrete reaction Activision Blizzard management has taken since the scandal broke and one taken in advance of executives taking live calls from analysts later today.
