Recode (@recode)

Tech news, analysis and events. Subscribe to Recode Decode👇🏻.

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following
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It took more than a decade, but #Twitter just turned a profit for the fourth quarter in a row. 
@twitter reported its fourth straight profitable quarter on Thursday. The company’s net income was $789 million for the quarter, but a lot of that was attributed to a massive “one-time release of deferred tax asset valuation allowance,” which accounted for $683 million.
🔽
Twitter also reported a loss of nine million monthly active users, a decline it had prepared Wall Street for. The company has said this decline in MAUs is mostly due to its efforts to clean up the “health” of the service, something CEO Jack Dorsey reiterated in a statement Thursday. #tech #charts #twtr #stock #stocks #stockmarket #earnings #data #tweets
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It took more than a decade, but #Twitter just turned a profit for the fourth quarter in a row.
@twitter reported its fourth straight profitable quarter on Thursday. The company’s net income was $789 million for the quarter, but a lot of that was attributed to a massive “one-time release of deferred tax asset valuation allowance,” which accounted for $683 million.
🔽
Twitter also reported a loss of nine million monthly active users, a decline it had prepared Wall Street for. The company has said this decline in MAUs is mostly due to its efforts to clean up the “health” of the service, something CEO Jack Dorsey reiterated in a statement Thursday. #tech #charts #twtr #stock #stocks #stockmarket #earnings #data #tweets
Here’s why no one really knows how many jobs #automation will replace: 
For example, researchers at Citibank and the University of Oxford estimated that 57 percent of jobs in OECD countries — an international group of 36 nations including the U.S. — were at high risk of automation within the next few decades. In another study, researchers at the OECD calculated only 14 percent of jobs to be at high risk of automation. 
So why do these predictions cover so much range? Recode asked leading academics and economists in the field and found some of the challenges in sizing how automation and similar technology will change the workforce. “All of these studies that have tried to put a number on how many jobs are going to be lost in a decade or two decades or five years — they’re trying to do something that is just impossible,” said Carl Benedikt Frey, an economist at the University of Oxford. #tech #jobs #ai #siliconvalley #data #charts
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Here’s why no one really knows how many jobs #automation will replace:
For example, researchers at Citibank and the University of Oxford estimated that 57 percent of jobs in OECD countries — an international group of 36 nations including the U.S. — were at high risk of automation within the next few decades. In another study, researchers at the OECD calculated only 14 percent of jobs to be at high risk of automation.
So why do these predictions cover so much range? Recode asked leading academics and economists in the field and found some of the challenges in sizing how automation and similar technology will change the workforce. “All of these studies that have tried to put a number on how many jobs are going to be lost in a decade or two decades or five years — they’re trying to do something that is just impossible,” said Carl Benedikt Frey, an economist at the University of Oxford. #tech #jobs #ai #siliconvalley #data #charts
@facebook showed off its “election war room” yesterday - the office where it’ll monitor and respond to possible election interference efforts leading up to the midterms. #Facebook says it always creates digital “war rooms” for elections. This is the first time it has had a physical one.

Here’s what it looks like. 
Some monitors on the wall are tracking things like reports of voter suppression, for example. If there’s a spike in reports, FB will try to figure out what’s going on. 
The room has 24 desks, and in theory, people in the room should be qualified to make decisions in the moment to avoid long delays. ➡️
The room is totally unimpressive from the outside. It’s at Facebook’s main HQ in Menlo Park, and the only thing that distinguishes it from any other conference room door is this blacked out window and paper sign.

In the weeks leading up to the election, the room will be staffed 24 hours/day. Employees will rotate shifts. 
Maybe this will stop some massive misinformation campaign? Or maybe this room is just decoration to show the media/politicians how seriously FB is taking this? 🤷🏻‍♂️ We probably won’t know for a couple of months. Anyways, happy voting! 📸: By Recode Social Media Editor @kurtwag8 #elections #midterms #vote #FB #markzuckerberg #election2018 #election #tech #media #socialmedia #siliconvalley #technology
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@facebook showed off its “election war room” yesterday - the office where it’ll monitor and respond to possible election interference efforts leading up to the midterms. #Facebook says it always creates digital “war rooms” for elections. This is the first time it has had a physical one.

Here’s what it looks like.
Some monitors on the wall are tracking things like reports of voter suppression, for example. If there’s a spike in reports, FB will try to figure out what’s going on.
The room has 24 desks, and in theory, people in the room should be qualified to make decisions in the moment to avoid long delays. ➡️
The room is totally unimpressive from the outside. It’s at Facebook’s main HQ in Menlo Park, and the only thing that distinguishes it from any other conference room door is this blacked out window and paper sign.

In the weeks leading up to the election, the room will be staffed 24 hours/day. Employees will rotate shifts.
Maybe this will stop some massive misinformation campaign? Or maybe this room is just decoration to show the media/politicians how seriously FB is taking this? 🤷🏻‍♂️ We probably won’t know for a couple of months. Anyways, happy voting! 📸: By Recode Social Media Editor @kurtwag8 #elections #midterms #vote #FB #markzuckerberg #election2018 #election #tech #media #socialmedia #siliconvalley #technology
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On average, drivers who transport people (Uber or Lyft) or things (Uber Eats or Postmates) through an app made 53 percent less in 2017 than they did in 2013. And the average monthly payments to those who worked for a transportation app in a given month declined to $783 from $1,469.
🔻
The share of the working population that has participated in the online gig economy at any point in a year rose from less than 2 percent in 2013 to nearly 5 percent in 2018. #tech #data #charts #uber #Lyft #postmates #gigeconomy #gig #delivery #transportation
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On average, drivers who transport people (Uber or Lyft) or things (Uber Eats or Postmates) through an app made 53 percent less in 2017 than they did in 2013. And the average monthly payments to those who worked for a transportation app in a given month declined to $783 from $1,469.
🔻
The share of the working population that has participated in the online gig economy at any point in a year rose from less than 2 percent in 2013 to nearly 5 percent in 2018. #tech #data #charts #uber #Lyft #postmates #gigeconomy #gig #delivery #transportation
More than a quarter of U.S. @facebook users say they have deleted the app from their phones over the past year. A greater percentage, 42 percent, say they have taken a break from checking #Facebook for several weeks or more. And 54 percent say they’ve adjusted their privacy settings over the past year.

Some 44 percent of 18- to 29-year-olds claim to have joined the #DeleteFacebook movement.

But it doesn’t seem to have had a dramatic effect on Facebook’s audience size: Facebook’s daily active user base in the U.S. and Canada has been stuck at about 185 million for four straight quarters. 
Check the #🔗 link in our bio to keep reading. #tech #data #charts #socialmedia #privacy
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More than a quarter of U.S. @facebook users say they have deleted the app from their phones over the past year. A greater percentage, 42 percent, say they have taken a break from checking #Facebook for several weeks or more. And 54 percent say they’ve adjusted their privacy settings over the past year.

Some 44 percent of 18- to 29-year-olds claim to have joined the #DeleteFacebook movement.

But it doesn’t seem to have had a dramatic effect on Facebook’s audience size: Facebook’s daily active user base in the U.S. and Canada has been stuck at about 185 million for four straight quarters.
Check the #🔗 link in our bio to keep reading. #tech #data #charts #socialmedia #privacy
As the November #midterm elections approach, where is the money coming from? We created a cheat sheet to the gusher of Silicon Valley cash flooding the system in advance of Election Day: 
1️⃣
Mike and Jackie Bezos, parents of Jeff Bezos, are worth as much as $30 billion, thanks to a $245k check they put into their son’s company in 1995. The couple has given $2 million to a super PAC that recruits candidates of either party who have served in the Armed Forces.
2️⃣
Reid Hoffman, co-founder of LinkedIn, is — on paper — Silicon Valley’s most prominent donor. When much of the SV donor universe seems uncomfortable with the Democratic establishment, Hoffman is willing to back it in a very traditional way: With millions of dollars.
3️⃣
Dustin Moskovitz, a Facebook co-founder, entered the national political conversation out of nowhere in 2016. Overnight, he became the biggest donor on the left side of Sheldon Adelson with at least $35 million in spending on Democratic candidates.
4️⃣
Sam Altman, head of Y Combinator, is not an A-list money player, but he helped place staff at the Senate Majority PAC (the PAC that Reid Hoffman also backs), giving him a direct line of communication to Senate leadership.

Check the #🔗 in our bio to keep reading about 10 of the cash donors who matter. #tech #money #politics #midterms2018 #jeffbezos #facebook #linkedin #amazon #siliconvalley #democrats
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As the November #midterm elections approach, where is the money coming from? We created a cheat sheet to the gusher of Silicon Valley cash flooding the system in advance of Election Day:
1️⃣
Mike and Jackie Bezos, parents of Jeff Bezos, are worth as much as $30 billion, thanks to a $245k check they put into their son’s company in 1995. The couple has given $2 million to a super PAC that recruits candidates of either party who have served in the Armed Forces.
2️⃣
Reid Hoffman, co-founder of LinkedIn, is — on paper — Silicon Valley’s most prominent donor. When much of the SV donor universe seems uncomfortable with the Democratic establishment, Hoffman is willing to back it in a very traditional way: With millions of dollars.
3️⃣
Dustin Moskovitz, a Facebook co-founder, entered the national political conversation out of nowhere in 2016. Overnight, he became the biggest donor on the left side of Sheldon Adelson with at least $35 million in spending on Democratic candidates.
4️⃣
Sam Altman, head of Y Combinator, is not an A-list money player, but he helped place staff at the Senate Majority PAC (the PAC that Reid Hoffman also backs), giving him a direct line of communication to Senate leadership.

Check the #🔗 in our bio to keep reading about 10 of the cash donors who matter. #tech #money #politics #midterms2018 #jeffbezos #facebook #linkedin #amazon #siliconvalley #democrats
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@wework is one lease away from being the biggest office tenant in Manhattan. 
If #WeWork leases just one more 74,000-square foot office — a typical size for WeWork — it will be bigger than #JPMorgan Chase, currently the biggest office occupant in New York’s Manhattan market.

Currently, WeWork’s footprint represents just under 3 percent of office space in the city, but it could rise as high as 5 percent to 10 percent in the next decade. WeWork has 57 locations in New York City. #maps #charts #tech #coworkingspace #coworking #newyork #newyorkcity
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@wework is one lease away from being the biggest office tenant in Manhattan.
If #WeWork leases just one more 74,000-square foot office — a typical size for WeWork — it will be bigger than #JPMorgan Chase, currently the biggest office occupant in New York’s Manhattan market.

Currently, WeWork’s footprint represents just under 3 percent of office space in the city, but it could rise as high as 5 percent to 10 percent in the next decade. WeWork has 57 locations in New York City. #maps #charts #tech #coworkingspace #coworking #newyork #newyorkcity
There should be ‘consequences’ for platforms that don’t remove people like Alex Jones, Senator Ron Wyden told @karaswisher on today's Recode Decode #podcast. 
Jones and his conspiracy-minded site Infowars have long since “blown past the bounds of common decency,” Wyden said. 
Listen to the episode on iTunes, Pocket Casts or check out our story for the #🔗 link to listen on #Spotify. #facebook #twitter #youtube #socialmedia #alexjones #infowars #tech #media #policy #politics #quotes
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There should be ‘consequences’ for platforms that don’t remove people like Alex Jones, Senator Ron Wyden told @karaswisher on today's Recode Decode #podcast.
Jones and his conspiracy-minded site Infowars have long since “blown past the bounds of common decency,” Wyden said.
Listen to the episode on iTunes, Pocket Casts or check out our story for the #🔗 link to listen on #Spotify. #facebook #twitter #youtube #socialmedia #alexjones #infowars #tech #media #policy #politics #quotes
On the latest episode of Recode Decode, hosted by @karaswisher, startup advisor and Color Genomics co-founder Elad Gil talks about his new book, “High Growth Handbook: Scaling Startups from 10 to 10,000 People.” He also explores some common startup myths, shares some tips for building better boards and discusses his biggest worry right now: The end of optimism in tech.

Gil's three things you have to do as an early stage company: 
1️⃣ Don’t run out of money
2️⃣ Find product market fit
3️⃣ Don’t fight with your co-founder

Listen to the episode on #iTunes, Pocket Casts or check out our story for the #link #🔗 to listen on #Spotify. #tech #podcasts #recodedecode #podcast
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On the latest episode of Recode Decode, hosted by @karaswisher , startup advisor and Color Genomics co-founder Elad Gil talks about his new book, “High Growth Handbook: Scaling Startups from 10 to 10,000 People.” He also explores some common startup myths, shares some tips for building better boards and discusses his biggest worry right now: The end of optimism in tech.

Gil's three things you have to do as an early stage company:
1️⃣ Don’t run out of money
2️⃣ Find product market fit
3️⃣ Don’t fight with your co-founder

Listen to the episode on #iTunes, Pocket Casts or check out our story for the #link #🔗 to listen on #Spotify. #tech #podcasts #recodedecode #podcast
10 charts that sum up 2018 (so far): 🔻
#MoviePass was, sadly, too good to be true. This year, MoviePass' valuation has collapsed, as majority shareholder Helios and Matheson Analytics went from being worth hundreds of millions to less than half a million dollars.
🔻
#Cryptocurrency prices are down big after last year’s crazy rise. If 2017 was the year of go-go #bitcoin, 2018 has been a correction. Major cryptocurrencies bitcoin and #ethereum are worth half what they were at the start of the year. 🔻
#Juul has become a #vaping phenomenon. The company, which makes sleek, flashy, flavored e-cigarettes, owns about 60 percent of the U.S. vaping market and is now valued at $15 billion — about the same as #Lyft. 🔻
#Facebook took a big bath, but it’s already recovering. In July, Facebook announced that its growth was really starting to slow. Its earnings report sent shares down 20 percent and knocked nearly $120 billion off the company’s market cap — the largest one-day decline in U.S. history. #charts #data #tech #stock #yearinreview #📈
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10 charts that sum up 2018 (so far): 🔻
#MoviePass was, sadly, too good to be true. This year, MoviePass' valuation has collapsed, as majority shareholder Helios and Matheson Analytics went from being worth hundreds of millions to less than half a million dollars.
🔻
#Cryptocurrency prices are down big after last year’s crazy rise. If 2017 was the year of go-go #bitcoin, 2018 has been a correction. Major cryptocurrencies bitcoin and #ethereum are worth half what they were at the start of the year. 🔻
#Juul has become a #vaping phenomenon. The company, which makes sleek, flashy, flavored e-cigarettes, owns about 60 percent of the U.S. vaping market and is now valued at $15 billion — about the same as #Lyft. 🔻
#Facebook took a big bath, but it’s already recovering. In July, Facebook announced that its growth was really starting to slow. Its earnings report sent shares down 20 percent and knocked nearly $120 billion off the company’s market cap — the largest one-day decline in U.S. history. #charts #data #tech #stock #yearinreview #📈
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Two years ago, @instagram did something that felt a little desperate: It copied the best product from a direct competitor, and even gave it the same name. #Snapchat Stories were suddenly #Instagram #Stories.

Now it’s clear that launching Stories was the best decision Instagram ever made — and more broadly, one of the best things to come out of @facebook.

But how big is Instagram stories? Its 400 million daily users is more than twice the number of users Snapchat has for its entire app. It is arguably the fastest-growing media format ever. Some 31 percent of Instagram users post a Story every month, up from 21 percent a year prior. Link #🔗 to story in our bio. #tech #data #charts #socialmedia #instagramstories #IGstories #IGTV #IG
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Two years ago, @instagram did something that felt a little desperate: It copied the best product from a direct competitor, and even gave it the same name. #Snapchat Stories were suddenly #Instagram #Stories.

Now it’s clear that launching Stories was the best decision Instagram ever made — and more broadly, one of the best things to come out of @facebook.

But how big is Instagram stories? Its 400 million daily users is more than twice the number of users Snapchat has for its entire app. It is arguably the fastest-growing media format ever. Some 31 percent of Instagram users post a Story every month, up from 21 percent a year prior. Link #🔗 to story in our bio. #tech #data #charts #socialmedia #instagramstories #IGstories #IGTV #IG
It’s official. @apple is the first U.S. public company to reach a $1 trillion market value. 
Is $2 trillion next? That will be tricky. As the smartphone market and the iPhone business has matured. Apple will need to identify and lead one of the next major paradigms of computing — augmented reality glasses? — and figure out a business model nearly as good as the iPhone’s. Good luck! #apple #stock #charts #data #tech #iphone #📱
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It’s official. @apple is the first U.S. public company to reach a $1 trillion market value.
Is $2 trillion next? That will be tricky. As the smartphone market and the iPhone business has matured. Apple will need to identify and lead one of the next major paradigms of computing — augmented reality glasses? — and figure out a business model nearly as good as the iPhone’s. Good luck! #apple #stock #charts #data #tech #iphone #📱
General Magic, pioneering tech startup, tried to invent a smartphone in the 1990s. The directors of a new documentary explain why it failed on Recode Decode #podcast with @karaswisher. 
Kara appears in the documentary, as do some of the most important figures from the company’s history, such as Andy Hertzfeld, John Sculley and Tony Fadell. Although few people know the name General Magic anymore, directors Sarah Kerruish and Matt Maude say the team’s failure paved the way for the Silicon Valley we know today. Listen on @Apple Podcasts, @spotify, Pocket Casts, Overcast or wherever you listen to podcasts. #tech #siliconvalley #documentary #smartphones #apple #iphone
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General Magic, pioneering tech startup, tried to invent a smartphone in the 1990s. The directors of a new documentary explain why it failed on Recode Decode #podcast with @karaswisher.
Kara appears in the documentary, as do some of the most important figures from the company’s history, such as Andy Hertzfeld, John Sculley and Tony Fadell. Although few people know the name General Magic anymore, directors Sarah Kerruish and Matt Maude say the team’s failure paved the way for the Silicon Valley we know today. Listen on @Apple Podcasts, @spotify , Pocket Casts, Overcast or wherever you listen to podcasts. #tech #siliconvalley #documentary #smartphones #apple #iphone
U.S. business expense reports are in flux. 
From lodging to food to transportation — even how much we’re spending at #Starbucks — let’s take a look at these trends in corporate America’s travel and expenses as online services take over:
1️⃣
Ride-hailing services like #Uber and #Lyft have eclipsed taxis: In the less than 10 years since it launched, Uber and its competitor Lyft have gobbled up a whopping 93 percent of business ride-hailing receipts. 
2️⃣
Business travelers are staying at #Airbnbs — but in groups: 60 percent of stays on Airbnb for Work are for two or more guests. That means companies are opting to have their employees stay together in apartments or homes when traveling. 
3️⃣
Employees are opting to dine in: Employees are choosing to order meals through online platforms like #GrubHub and #UberEats. The food delivery market nearly doubled from 2016 to 2017, and is expected to double again this year. 
4️⃣
Employees are spending more money on food — at Starbucks: On average, employees spent $13.21 per visit to Starbucks in 2017, up nearly 40 percent since 2013. And Starbucks is the mostI - expensed food vendor, according to Certify. #tech #data #charts #travel #business #expenses
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U.S. business expense reports are in flux.
From lodging to food to transportation — even how much we’re spending at #Starbucks — let’s take a look at these trends in corporate America’s travel and expenses as online services take over:
1️⃣
Ride-hailing services like #Uber and #Lyft have eclipsed taxis: In the less than 10 years since it launched, Uber and its competitor Lyft have gobbled up a whopping 93 percent of business ride-hailing receipts.
2️⃣
Business travelers are staying at #Airbnbs — but in groups: 60 percent of stays on Airbnb for Work are for two or more guests. That means companies are opting to have their employees stay together in apartments or homes when traveling.
3️⃣
Employees are opting to dine in: Employees are choosing to order meals through online platforms like #GrubHub and #UberEats. The food delivery market nearly doubled from 2016 to 2017, and is expected to double again this year.
4️⃣
Employees are spending more money on food — at Starbucks: On average, employees spent $13.21 per visit to Starbucks in 2017, up nearly 40 percent since 2013. And Starbucks is the mostI - expensed food vendor, according to Certify. #tech #data #charts #travel #business #expenses

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