Twitter Reverses Decision on New York Post - Daily Crunch

A report from the New York Post has prompted social media platforms to make some challenging decisions, including a reversal by Twitter. Additionally, Sony has unveiled a new 3D display, and the fitness company Future has secured $24 million in funding. This is your Daily Crunch for October 16, 2020.

Leading the News: Twitter Reconsiders New York Post Decision

A recent article published by the New York Post concerning a collection of emails and data allegedly from a laptop owned by Hunter Biden, son of Joe Biden, initially raised concerns. Further scrutiny has revealed additional inconsistencies. This situation has placed major social media platforms in a difficult position, with both Facebook and Twitter implementing measures to restrict the sharing of the story.

Twitter specifically adopted a more assertive approach, blocking links and images related to the Post’s article due to a perceived violation of the platform’s “hacked materials policy.” This action resulted in criticism from Republican lawmakers, and even Twitter’s CEO, Jack Dorsey, acknowledged that blocking links within direct messages without explanation was inappropriate.

Consequently, the company announced revisions to its hacked materials policy. It will no longer remove hacked content unless it is directly distributed by hackers or individuals “working in close coordination with them.” In other cases, tweets will be labeled to provide relevant context. As of today, the platform is also permitting users to share links to the Post’s story.

Technology Industry Updates

Sony’s 3D display, priced at $5,000, is likely intended for professional use — The company is focusing its new Spatial Reality Display on creative professionals.

The European Union’s decision regarding Google’s acquisition of Fitbit has been delayed until 2021 — EU regulators now have until January 8, 2021 to reach a conclusion.

Startups, Investment, and Venture Capital

Elon Musk’s Las Vegas Loop project may not achieve its projected passenger capacity — Documents examined by TechCrunch suggest that The Boring Company’s Loop system will likely transport significantly fewer people than initially agreed upon.

Future secures $24M Series B funding for its $150/month workout coaching application amidst the growth of at-home fitness — Future provides a premium subscription service that connects users with a dedicated, real-life fitness coach.

Lawmatics obtains $2.5M to assist legal professionals with marketing efforts — The San Diego-based startup is developing marketing and CRM software specifically for lawyers.

Insights and Analysis from Extra Crunch

The impact of COVID-19 and the subsequent economic downturn on female founders — The reduction in available funding is hindering the rate at which women are establishing new businesses during the COVID-19 pandemic.

Startup founders are establishing “hacker homes” to replicate the collaborative environment of Silicon Valley — These hacker homes represent a nostalgic effort to restore the synergies disrupted by COVID-19.

Private equity firms present a feasible exit strategy for enterprise startups — The choice between an IPO and an acquisition is not always mutually exclusive.

(Please note: Extra Crunch is our subscription-based membership program designed to broaden access to startup information. You can register here.)

Additional News

The FAA simplifies commercial launch regulations to facilitate continued rocket launches — As the number and variety of rocket launches, and the number of providers, increase, streamlining the regulatory process is logical.

The need for comprehensive digital ad transparency is paramount — Fifteen researchers are proposing a new standard for advertising disclosures.

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