Axios

The Department of Homeland Security rolled out new cybersecurity rules for pipeline owners and operators Friday — marking a win for the pipeline industry, which spent the last year criticizing the directive that these new rules replace.

Why it matters: The pipeline business is among those with the strictest cybersecurity regulations, and agencies for other industries are following this saga closely before drafting their own cyber regulations.

A California judge granted preliminary approval today to a historic $100 million settlement between League of Legends studio Riot Games and women who sued the company over gender discrimination, Axios has learned.

Why it matters: The settlement is a win for women who worked at Riot and for a California agency that had blocked an earlier, smaller deal.

Meta on Friday said it approved a new three-year, $150 million commitment to fund its global content oversight board, which it has designed to be independent and provides money for via a separate trust.

Why it matters: The board was created to help Meta make tough calls on content moderation, but the group's power has been challenged at times by the company's unwillingness to outsource some of its decisions.

Jay Carney, who was White House press secretary under President Obama, will move from Amazon to Airbnb as global head of policy and communications.

Why it matters: Carney — as Amazon's SVP of global corporate affairs, and one of the closest advisers to founder and executive chairman Jeff Bezos — is among the nation's most powerful and prominent tech executives.

Twitter on Friday said Elon Musk’s contentious takeover bid, combined with macroeconomic factors affecting the ad market, were to blame for the tech giant missing Wall Street’s revenue expectations for the second quarter.

Why it matters: Twitter’s share price, which is typically a reflection of performance as well as other factors, could play a role in possible negotiations with Musk later this year, if the two parties decide to settle their dispute out of court.

Two different cases were filed yesterday against three people accused of insider trading on crypto tokens — one from the DoJ was about the commission of a crime, while the related SEC complaint seemed to be, deeper down, about something else entirely.

Why it matters: The two takes on one case has reignited a seemingly esoteric but central question for cryptocurrency companies aiming to operate in a way that complies with U.S. law: What is or isn't a security, as opposed to a commodity.

If you're on Philly TikTok, chances are you've run into Naked Philly — the content arm of real estate company OCF Realty — over the last few weeks, as their viral videos have racked up tens of thousands of views.

Why it matters: Even on a hyperlocal level, brands want to use engaging content as a way to break through the noise and make a connection — and ideally, get your business — while you endlessly scroll.

For all its size and power, people continue to underestimate Amazon by focusing on what the company is already doing, instead of looking where it will go next.

Why it matters: Amazon is never content with just growing its share of markets it's already in. It always has an eye toward what large market it can upend next.