Good evening!
Great news today for your nightly TikTok doomscrolling (it’s not going anywhere anytime soon).
Here are the 7 things you missed today:
1. 🇺🇸 TikTok’s U.S. Ban Has Been Extended (Again)
Having deja vu with this one. The President signed an executive order today granting a third extension for TikTok to sell from its Chinese parent ByteDance to a U.S. company. That said, there doesn’t seem to be any progress on finding a U.S. buyer. (CNBC)
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3. 💰 Ex-Stripe Exec’s Multiplier Nabbed $27.5M For AI Accounting
Multiplier, a startup creating AI tools to enhance accounting firms, has raised a total of $27.5 million in seed and Series A financing, led by Lightspeed Venture Partners. The company was founded by former Stripe APAC Business Lead Noah Pepper in late 2022. (TechCrunch)
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5. 💼 Microsoft is Planning to Lay Off Thousands
A new report from Bloomberg unveiled Microsoft’s plans to lay off thousands of sales employees next month at the end of its fiscal year. The layoffs have been expected after Microsoft said in April that it would rely more on third-party firms to sell to small and mid-sized clients. (Quartz)
6. 🇮🇳 Amazon is Investing $233M in India
Amazon announced it’s planning to invest about $233 million in its India business to further build out its operations infrastructure, develop new tools for its delivery network, and work on employee safety and well-being programs. The goal? To deliver to all pin-codes in the country. (TechCrunch)
7. 💵 Texas Instruments is Investing $60Bn in U.S. Chipmaking
Maybe things are bigger in Texas. Manufacturer Texas Instruments is planning to invest $60 billion in seven semiconductor fabrication plants – the largest type of this investment in U.S. history. The seven plants will be spread across three sites in Texas and Utah, creating 60,000 new jobs. (Quartz)
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