Samsung’s vice chairman receives presidential pardon for bribery conviction – TechCrunch


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Final night time was a full moon, someway it’s already midway by way of August, and do you know there’s a Seaside Plum LaCroix taste? The world’s gone topsy-turvy, however at the very least it’s time for the weekend.

What did you do that week that made you are feeling alive? Are you able to do extra of that subsequent week? And that concludes our microtherapy session. Now, let’s get on with the information.  — Christine and Haje

The TechCrunch High 3

  • Pardon me: A presidential pardon is restoring Samsung’s vice chairman Jay Lee’s skill to take the corporate’s helm. Lee had been convicted on bribery prices in 2017, and the pardon will erase it, Kate writes.
  • 5G begets 4G: Yeah, you learn that proper. Amazon launched AWS Non-public 5G so corporations can construct their very own 4G networks…for now, Paul writes. That is one thing that has been within the works since late 2021, and the corporate stated finally there will probably be capabilities for 5G networks.
  • Location obliteration: Natasha L explains how Google was fined $40 million by Australia’s authorities, which discovered the tech big had misled customers about its Android location monitoring settings.

Startups and VC

Don’t miss Brian’s Actuator publication, which is often all in regards to the state of {hardware} and robotics, however as we speak is largely about Amazon and iRobot.

And in your each day dose of levity, don’t miss Amanda’s wonderful piece of satire: FWD: fwd: From the CEO: BeCareful whilst you BeReal!

A number of extra highlights:

What does the long run appear to be for e-commerce aggregators?

Man figure consisting of glowing pixels runs through darkness

Picture Credit: iLexx (opens in a brand new window) / Getty Photographs

Within the online game Katamari Damacy, gamers management an avatar who rolls a sticky ball that captures something it touches. The purpose: create a sphere massive sufficient to grow to be a star or moon.

E-commerce aggregators work in a lot the identical method by buying smaller manufacturers, then optimizing their manufacturing and gross sales channels to spice up market share.

This mannequin was efficient in a prevaccine period when customers stopped visiting shops, however is the brand-rollup mannequin nonetheless viable as we speak?

“Decreased shopper confidence, inflated model worth and a freeze in funding capital are creating an ideal storm,” says David Wright, co-founder and CEO of e-commerce accelerator Sample. “Except aggregators change how they function, their future is bleak at greatest and nonexistent at worst.”

(TechCrunch+ is our membership program, which helps founders and startup groups get forward. You possibly can join right here.)

Large Tech Inc.

Have you ever seen these ransomware group members? The U.S. authorities is providing $10 million in trade for data resulting in the identification and placement of members of the Russia-based Conti ransomware operative, Carly writes.

Talking of alleged fraudulent conduct, Manish writes about India’s anti-money-laundering company freezing $46.4 million in belongings belonging to Singapore-based crypto trade Vauld whereas it appears into the corporate’s enterprise practices.

In the meantime, Brian appears into what’s taking place over at Boston Dynamics after being acquired by Hyundai in 2020, which features a new synthetic intelligence and robotics institute buoyed by $400 million.


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