| Here are today's main tech stories: - ⚖️ Former CIA engineer responsible for the "worst leak in CIA history" sentenced to 40 years in prison.
- 📈 Meta reports higher-than-expected revenue and a decrease in expenses.
- 🤝 Tesla to pay a $1.5M settlement over alleged mishandling of hazardous waste in California.
- 📦 Amazon reports $170B in Q4 net sales, up 14% from a year earlier.
- 🌡 Snap recalls all of the 70,000 drones it made due to an overheating issue.
- 👮♀️ Interpol arrests 31 individuals suspected of being involved in a major hacking network.
Arbër
p/Arber | |
| 1 | | A former CIA engineer has been sentenced to 40 years in prison for leaking secret information to WikiLeaks. In a statement, the Justice Department described the leak as the largest in the history of the CIA. More: - Joshua Adam Schulte, who worked as a CIA software engineer between 2012 and 2016, used his administrator access to make copies of cybersecurity software tools that were used by the Center for Cyber Intelligence.
- The information was published on WikiLeaks from March 2017 to November 2017.
- Among the leaked information were tools used to infiltrate cars, smart TVs, and web browsers, as well as desktop and mobile operating systems.
- A former CIA director described the leak during the trial as a "digital Pearl Harbor" and said it cost the agency hundreds of millions of dollars.
Zoom Out: - Schulte was also found guilty on charges of receiving, possessing, and transporting child pornography in September 2023.
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| 2 | | 
Meta reported higher-than-expected revenue in the last quarter of 2023 and a decrease in expenses. The tech giant said it will make its first-ever dividend payment. More: - Meta reported $40.1B in Q4 revenue compared to the $39.18B estimated by analysts.
- Meta reported 2.11 billion daily active users, more than the 2.08 billion expected, while its monthly user base reached 3.07 billion.
- Its expenses decreased 8% YoY to $23.73B in Q4, thanks in part to multiple layoff rounds in the past 24 months.
- Meta said it had 67,317 employees as of Dec. 3, 2023, a 22% YoY decrease.
- Meta posted $14B in net income, a 300% increase compared to the previous year, and announced a $50B share buyback.
- Its cash and equivalents reached $65.4B, up from $40.7B a year earlier.
- "We've made a lot of progress on our vision for advancing AI and the metaverse," Meta CEO Mark Zuckerberg said.
- Meta's Reality Labs division generated over $1B, up $300M from the previous quarter, but posted a $4.65B loss.
- Meta expects the division to operate at a loss for the foreseeable future due to its large R&D investments.
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| 3 | | Tesla has agreed to pay $1.5M to settle a lawsuit alleging that the carmaker mishandled hazardous waste in California. According to the complaint, Tesla "intentionally disposed of, and intentionally caused the disposal of hazardous waste" that included lead acid batteries, paint, and lubricants. More: - The lawsuit claimed that Tesla did not properly label the containers of hazardous materials at its facilities and did not train its employees on how to dispose of hazardous materials.
- The settlement includes $1.3M in civil penalties and $200,000 to cover the investigation's expenses.
- As part of the agreement, Tesla will train employees on how to handle hazardous materials and hire a third party to conduct annual waste audits.
Zoom Out: - In 2022, Tesla agreed to pay a $275,000 penalty to the Environmental Protection Agency, which found that the carmakers had failed to comply with toxic emissions standards over three years.
- Tesla reported a net income of $7.93B in the fourth quarter of 2023.
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| 4 | | Amazon reported $170B in net sales in Q4 2023, a 14% increase compared to the same period a year earlier. CEO Andy Jassy said that Amazon's revenue increased thanks to "record-breaking Holiday shopping." More: - The company's net income surged to $10.6B, compared to $278M in the same period a year earlier.
- Sales at Amazon Web Services climbed 13% in the fourth quarter to $24.2B.
- Amazon's advertising unit made $14.7B in sales, a 27% jump from a year earlier.
- Amazon forecasts first-quarter sales at between $138B and $143.5B, representing a growth rate of 8% to 13%.
- Analysts were expecting revenue of $142.1B.
- Amazon cut at least 27,000 jobs in 2023.
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| 5 | | Snap has recalled around 70,000 Pixy drones over fire risk issues caused by overheating and bulging batteries. The company has offered full refunds for the drones, which cost up to $230. More: - Snap urged the public not to use Pixy Flying Camera drones, remove their batteries, and stop charging them.
- The decision was made after Snap received four reports of the battery overheating and bulging, resulting in one minor battery fire and one minor injury.
- Although overheating only affected a small number of drones, the company issued a total recall.
Zoom Out: - According to the Occupational Safety and Health Administration, damaged and improperly used lithium batteries could go through a process called thermal runway, which can cause fires.
- In recent years, lithium-ion batteries have caused hundreds of fires in New York City alone, killing 24 people.
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| 6 | | Interpol has arrested 31 individuals in a major anti-hacking operation in 55 countries. Interpol identified 1,300 malicious servers, 70% of which have already been taken down in Europe, while authorities in Hong Kong and Singapore took down 153 and 86 servers, respectively. More: - In addition to the arrests, Interpol identified 70 other suspects.
- Most of the arrests were made in Europe, while some suspects were also arrested in South Sudan and Zimbabwe.
- Interpol said the network that has been taken down supported phishing, banking malware, and ransomware operations.
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 | Writer | | Arbër is an Inside analyst who has previously incubated his startup at the largest incubator in Southeastern Europe. He has collaborated with multiple major publications and holds a business degree from XAMK University in Finland. | | This newsletter was edited by Eduardo Garcia | |
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