Metaverse losses top $3.6B for Meta with spending set to increase
Big Five technology player Meta is still burning cash through its Metaverse research and development arm Reality Labs with a $3.67 billion loss posted for the third quarter of 2022, stating those losses will further deepen next year. The company’s Q3 2022 earnings released on Oct. 26 show the biggest-ever quarterly losses for Reality Labs […]
Nvidia cites limited visibility into crypto mining’s impact on Q2 results
Graphics card giant Nvidia CFO Colette Kress says the company has been unable to estimate reduced crypto mining demand impacted its Q2 results, which fell short of analyst expectations on Wednesday. The chip giant released its financial results for the three months ended Jul. 31y, which revealed a 19% quarter-on-quarter drop in revenue to $6.5 […]
‘This is on me’ — Robinhood CEO to lay off 23% of staff after Q2 loss
Online brokerage Robinhood will lay off nearly a quarter of its employees, citing a continued deterioration of the macro environment and a broad crypto market crash. The bad news came in a blog post on August 2 from cofounder and CEO Vlad Tenev, on the same day it released tepid Q2 financial results, while the […]
Could blockchain end bitter vote-rigging disputes once and for all?
From the United States to Uganda, allegations of vote rigging have become part and parcel of elections worldwide. Some of these claims are legitimate, with strongmen leaders suppressing the will of the people in a desperate attempt to cling on to power. But in other cases, such accusations are made with little evidence. Fake videos […]