Good morning! This is the tech news you need to know this Thursday.
- Samsung finally unveiled details about its foldable smartphone. The “Infinity Flex” runs on a special version of Android developed in partnership with Google, which works around its foldable display.
- Eric Schmidt took the blame for Google’s social networking failures. The former CEO admitted “I think it would be fair to say that the rise of Facebook… occurred on my watch,” in a recent podcast interview.
- Vice Media is cutting its staff by up to 15% amid missed revenue and a traffic slump. Vice Media CEO Nancy Dubuc, who took over for Shane Smith in March, is overseeing the savings plan, The Wall Street Journal reports.
- The company behind one of the biggest video games in the world was just slammed with a lawsuit alleging its “bro-culture” created a sexist workplace. “League of Legends” developer Riot Games is facing a class-action lawsuit claiming the company harboured a sexist work environment with women suffering from unequal pay and harassment.
- Scorned Facebook and Twitter users are flocking to LinkedIn to spew hate speech, MAGA memes, and misinformation. LinkedIn has become the social network to turn to for Donald Trump supporters who are being kicked off Facebook and Twitter for false and abusive posts, BuzzFeed reports.
- Europe’s anti-monopoly chief conducted “very preliminary investigations” into Apple but decided it’s “not a dominant company.” European Commissioner for Competition Margrethe Vestager told Web Summit that Apple is not under scrutiny for antitrust.
- Uber’s board reportedly held a “marathon meeting” as it grapples with its ties to Saudi Arabia in the wake of Jamal Khashoggi’s murder. The kingdom now reportedly owns more than 10% of the ride-hailing firm, which is eyeing an IPO as valuable as $120 billion next year.
- Facebook delayed releasing a tool showing exactly who is paying for political ads after journalists “gamed” it to expose its flaws. The ad library system was meant to launch on November 7 in the UK, but a flurry of investigations from Business Insider, Vice, and ProPublica showed it was far from foolproof.
- Billionaire Marc Benioff celebrated after San Francisco voted for new tax that will take millions from big tech firms to solve the city’s homelessness crisis. Proposition C, a measure which will tax San Francisco’s largest companies in order to combat homelessness, passed on Tuesday.
- A cryptocurrency millionaire is buying up land in Nevada’s desert to build a utopian village run on Ethereum. The New York Times reports that the man behind the project, Jeffrey Berns, is planning a city that would run entirely on blockchain.
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