Daily Crunch: Meta to pay $725M settlement in Cambridge Analytica data access case
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Today we celebrate a bit of oversight over an industry that has been allowed to prey on those less fortunate for way too long — Devin reports that the FCC is taking a more firm hand in overseeing the prison phone system in a simple bill, giving the regulatory body the power “to ensure just and reasonable charges for telephone and advanced communications services in correctional and detention facilities.”
In other exciting news, the Daily Crunch will return next week in a slightly reduced form as Christine and Haje go on holiday. The full newsletter will be back soon, and the two of us wish you a very happy Christmas if you celebrate, a very peaceful holiday if you do not, and a magnificently prosperous 2023, in either case. Much love, Christine and Haje
The TechCrunch Top 4
- Meta settles: After years of pushing back against a lawsuit, Meta has agreed to a $725 million settlement to resolve a class-action lawsuit over Cambridge Analytica harvesting data from Facebook users. Paul has more.
- Breathe in that fresh air: Mila, the maker of a smart air purifier that came from humble beginnings on Kickstarter, scored $10 million in a round led by Electrolux. This gives it a $52 million valuation and the backing to add some smarts to a new product — a humidifier, Haje writes.
- Charge it up: It looks like Tesla is #winning in a space that Apple couldn’t make work. The automaker unveiled its $300 charging mat that can recharge three devices at once, Matt reports.
- The results are in: Dominic-Madori surveyed three Black investors about what they are prepping for in 2023. Read the full version on TechCrunch .
Holiday shipping is easier this year, but the tech is still lagging
Global supply chains are in better shape than last year, but that doesn’t bode well to the future, writes Flexport CEO Ryan Petersen.
” This year’s shipping improvements largely reflect a pullback of consumption rather than any improvement to the underlying infrastructure,” he said, noting that labor shortages and high fuel prices have caused persistent bottlenecks.
” We have the data we need to make the most of it .”
Two more from the TC group:
- Cloud money makes it rain: While Amazon had a rocky year, AWS remains a reliable cash cow, by Ron.
- Big, clean stacks of money: Clean energy investments may close 2022 hitting new heights, setting stage for lofty 2023, by Tim.
- Tearing down the Card Blanch: Pitch Deck Teardown: Card Blanch’s $460K deck for its angel round, by Haje.
Big Tech Inc.
We enjoyed Ingrid‘s in-depth look at how decentralized social media player Mastodon is scaling as Twitter users decamp to search for other ways to post everything they are thinking. TechCrunch subscribers — if you’re not one, you can be easily — can also read her Q&A with Mastodon creator Eugen Rochko.
If you are a LastPass user, like many of us here at TechCrunch. You might want to check your email regularly if you haven’t already. LastPass says hackers stole some customers’ password vaults. Zack says it’s time to change your passwords.
We have four more for your consideration:
- Can there be a fair election in social media land? : Annie writes that “botched content moderation” during Kenya’s elections last year leaves other countries with questions about what social media companies, like Facebook, Twitter and TikTok, will do to uphold election integrity in Africa as their elections happen.
- Persistence or annoyance? : @ElonJet creator Jack Sweeney has a new Twitter handle now, still following Elon Musk’s jet, but now delayed, writes Connie. Meanwhile, if you’re Twitter Blue, you can now upload 60-minute videos, Ivan reports. We are not sure that we will all stay long enough to see one, so good luck with those new views.
- Separated: India’s e-commerce giant Flipkart no longer owns a stake in PhonePe, Manish writes.
- This move has Tesla investors shaking their heads: Tesla’s $7,500 discount feels desperate and is “giving investors the ick,” writes Rebecca, causing one to cut its price target for the automaker.
I’m a journalist who specializes in investigative reporting and writing. I have written for the New York Times and other publications.