Reuters/Brendan McDermid
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- TikTok CEO Kevin Mayer resigned as the Trump administration is pushing to ban the Chinese-owned app. Mayer joined TikTok in May as CEO and served as COO of its parent company ByteDance.
- Jeff Bezos is now worth more than $200 billion, making him the richest person in the world by nearly $90 billion. Bezos has more wealth than anyone else has ever had, even when adjusted for inflation, Forbes reported.
- A "Kenosha Guard" Facebook event called on people to "take up arms" against protesters. Facebook removed the "call to arms" event and the Kenosha Guard page on Wednesday, according to The Verge.
- Salesforce is laying off about 1,000 workers, less than 2% of its workforce, a day after reporting blockbuster results that surpassed Wall Street estimates. In March, CEO Marc Benioff pledged that Salesforce would not do any significant layoffs over the next 90 days, calling on other CEOs to do the same.
- Apple's new iPhone operating system is making it harder for Facebook to track people, and Facebook says it will decimate part of its business. Facebook said iOS 14 could severely hurt its Audience Network ad network, reducing revenue by up to 50%.
- Airbnb extended its employee work-from-home policy until the end of August 2021, the latest of any major tech company. Airbnb employees will also get a $300 stipend "for home office equipment," the company said, "with an additional $200 to cover ergonomic equipment."
- Visa support platform Homeis says its user base has doubled since March as high-skilled immigrants look to relocate due to Trump's immigration restrictions. "I think there is a long-term impact, a question of whether America will be the number one destination for skilled employees," Homeis CEO Ran Harnevo told Business Insider.
- Linkedin chairman Jeff Weiner backed fintech startup Esusu, which aims to help marginalized communities build better credit scores. Cofounder Abbey Wemimo told Business Insider the firm wanted to help "right the wrongs of America's past" by countering the long-term effects of systemic racism.
- UK savings fintech Chip is raising a Series A round that will value it at more than $130 million. Chip uses AI and open banking tech to automatically save money each month based on users' spending behaviour.
- TikTok could be facing restrictions in the UK following a review from Boris Johnson's head of staff, Bloomberg reports. The UK announced in July it was banning Chinese telco Huawei from its 5G network following pressure from the Trump administration, having previously said in January it would be allowed to play a partial role.
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