Fb staff had entry to the passwords of lots of of thousands and thousands of customers. It’s one other damaging revelation in regards to the social media large, which has confronted sustained criticism over its privateness practices in recent times. The safety publication Krebs on Safety first reported that Fb had saved private passwords of customers on unencrypted firm servers in plain textual content, making them readable to hundreds of staff. Fb confirmed the difficulty, which it initially found in January in a “routine safety evaluate” and has since resolved. Based on the corporate, there’s no proof that staff improperly accessed the uncovered passwords — to this point. As Kurt Wagner writes, the state of affairs will present regulators — who’re already investigating Fb’s privateness practices — with “yet one more arrow” they will use to try to regulate the corporate. [Kurt Wagner / Recode]
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Jack Dorsey is hiring direct stories to work on cryptocurrency initiatives, and he’s providing to pay them in bitcoin. Sq. CEO Jack Dorsey tweeted that the corporate is hiring a group of engineers and a designer who will work full-time on “open supply contributions to the bitcoin/crypto ecosystem.” These staff will report on to Dorsey, an enthusiastic bitcoin investor who purchases $10,000 value of cryptocurrency per week. Sq.’s Money App at present accepts funds in bitcoin, so the corporate actually has one thing to achieve from developments in crypto expertise. [Rachel England / Engadget]
Right here’s how youngsters are being radicalized on Instagram. Whereas different social networks like Fb, YouTube, and Twitter are making efforts to crack down on the unfold of misinformation, Instagram has largely stayed out of the difficulty. However the photo-sharing app is more and more a preferred place for a lot of younger customers to interact in extremist discourse. As Taylor Lorenz writes, “Instagram is teeming with these conspiracy theories, viral misinformation, and extremist memes,” from “jokes about killing ladies, Jews, Muslims, and liberals” to anti-vaccination memes and conspiracies about George Soros and the Clintons. [Taylor Lorenz / The Atlantic]
Lease the Runway is formally a unicorn. With a brand new spherical of funding, the corporate that lends designer outfits and equipment simply reached a billion greenback valuation, or “unicorn” standing. The corporate raised $125 million within the newest spherical led by Franklin Templeton Investments and Bain Capital Ventures. Lease the Runway plans to make use of the money to additional broaden their subscription enterprise, renting out on a regular basis outfits and different gadgets like family merchandise. “Our objective is admittedly to create the Amazon Prime of rental,” mentioned CEO Jennifer Hyman in an interview with the New York Instances. The brand new valuation additionally places the corporate in an elite group of solely 14 female-founded VC-backed unicorns — or 10 p.c of the 134 VC-backed corporations at that valuation within the US. [Sapna Maheshwari / The New York Times]
Prime Tales from Recode
Apple’s plans for its new TV service: Promote different individuals’s TV providers. Apple’s TV plans, defined. (Spoiler: Apple isn’t taking up Netflix but.) [Peter Kafka]
That is cool
The rationale so many “Florida Man” viral tales exist.
It’s all in regards to the vests within the VC starter equipment.
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