Samsung Vice Chairman Receives Presidential Pardon for Bribery Conviction – TechCrunch

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There was a full moon last night, somehow it’s already mid-August, and did you know there’s a Beach Plum Lacroix flavor? The world has been so cruel, but at least it’s the weekend.

What did you do this week that made you feel alive? Can you do more than that next week? And this concludes our microtherapy session. Now on to the news. – Christine And came

TechCrunch’s Top 3

  • pardon meThe president’s pardon reinstates Samsung Vice Chairman Jay Lee at the helm of the company. Lee in 2010 She was convicted of bribery in 2017, and her pardon will be revoked. Kate He wrote.
  • 5G begets 4G: Yes, you read that right. Amazon launches AWS private 5G so companies can build their own 4G networks Paul He wrote. This is something that has been in the works since the end of 2021, and the company says that there will eventually be capabilities for 5G networks.
  • Erasure of space: Natasha L Google explains how it was fined $40 million by the Australian government after the tech giant misled users about Android’s location tracking settings.

Startups and VCs

Don’t miss it Brian‘s Actuator Newsletter, which is usually about the state of hardware and robotics, but today it’s mostly about Amazon and iRobot.

And for your daily dose, don’t miss it Amanda‘s great satire: FWD: fwd: From the CEO: BeReal!

A few more highlights:

What does the future look like for e-commerce collectors?

A human figure with glowing pixels passes through the darkness

Image Credits: iLexx (Opens in a new window) / Getty Images

In the video game Katamari Damasi, players control a sticky ball rolling avatar that grabs anything it touches. The goal: create a sphere big enough to become a star or moon.

E-commerce aggregators operate in a similar manner by acquiring smaller brands, then optimizing their manufacturing and sales channels to increase market share.

This model worked in the pre-vaccination era when consumers stopped visiting stores, but does the brand bundle model still work today?

“Dwindling consumer confidence, rising brand value and a slowdown in investment capital are creating a perfect storm,” said David Wright, founder and CEO of e-commerce accelerator Pattern. “Unless attendees change their behavior, their future is bleak at best and nonexistent at worst.

(TechCrunch+ is our membership program, which helps founders and startup teams get ahead. You can register here..)

Big Tech Inc.

Have you seen these ransomware team members? The US government is offering $10 million to help identify and locate members of the Russian-based Conti Bezaware operatives. Carly He wrote.

Speaking of the alleged act, Manish India’s anti-money laundering agency has written that it has frozen $46.4 million worth of assets belonging to Singapore-based crypto exchange Vald while looking into the company’s business practices.

Meanwhile, Brian In the year It looks at what’s happening with Boston Dynamics after Hyundai bought it in 2020, a new artificial intelligence and robotics institute bought for $400 million.

  • The Pew study reveals what we’ve known for some time: Teenagers do not use Facebook. According to the study, Facebook has lost almost half of its 13-17 year old users since 2015. Amanda Reports.
  • You have to spend money to make money: That’s what the Rivian leadership is saying anyway. The electric vehicle maker is sticking to its plan to deliver 25,000 vehicles by the end of the year, but it will have to burn through $700 million to do so. Harry Reports.
  • Your neighbor just got fun or embarrassing, you’re not sure which yetIf you want to see what happens to other people’s bells, Amazon-owned MGM is ready to entertain you. Amanda He wrote.
  • Friday featuresLet’s go over some new app features, shall we? Aisha She reports on Instacart’s new feature for truth-hungry but indecisive customers, and explores LinkedIn’s new creative tools designed to better share visual content. Meanwhile, Google is updating its search quality for “featured clips.” Taylor He wrote.

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