You might have heard that the US had a presidential election yesterday, with loads of implications for the tech world, notably with social media as one of many battlegrounds within the struggle over the outcomes. In the meantime, main tech-relevant poll measures, like California’s Proposition 22, additionally handed. I’ll do my finest to cowl all of it in your Every day Crunch for November 4, 2020.
The large story: Social media confronts election misinformation
Right here’s the excellent news: Election Day in the US was largely free from disruptive cyberattacks.
The dangerous information? Properly, we don’t have a winner within the presidential election but — though Joe Biden is up 2% within the in style vote as I write this on Wednesday afternoon, and he’s main narrowly in key battleground states. The uncertainty has created an enormous alternative for misinformation, notably from President Donald Trump and others concerned along with his marketing campaign who’re making an attempt to solid doubt on the voting and vote-counting course of whereas prematurely claiming victory.
As my colleague Taylor Hatmaker put it, that is a “nightmare misinformation scenario,” with the president and his marketing campaign doing their finest to “work the misinformation ecosystem he’s cultivated during the last 4 years.”
At the least Facebook and Twitter are attempting to stem the unfold in several methods: Twitter has added warning labels to quite a few Trump and Trump marketing campaign posts (Trump and his marketing campaign members aren’t the one ones getting warnings labels proper now, however to be clear: They’re those spreading harmful misinformation concerning the outcomes — whereas the Biden marketing campaign is, to place it merely, not). Fb additionally added messages on the prime of each Fb and Instagram noting that votes are nonetheless being counted.
The tech giants
Apple, Microsoft and other tech stocks roar as the presidential election narrows to several states — On the shut of buying and selling at present, the tech-heavy Nasdaq Composite was up 3.8%.
Zynga reports record revenue and strong user growth while still losing $122M — The corporate predicted additional progress in This fall, with income up 55% to $570 million.
Startups, funding and enterprise capital
Intel has acquired Cnvrg.io, a platform to manage, build and automate machine learning — Intel continues to snap up startups to construct out its machine studying and AI operations.
Aveine’s Smart Wine Aerator is a huge upgrade for wine lovers, and could create some new ones, too — This gadget from a French startup provides variable, on the spot aeration, together with a related app platform.
Hustle Fund, a pre-seed firm, closes $30M for a new fund — Hustle Fund was created by Elizabeth Yin and Eric Bahn, two former 500 Startups companions.
Recommendation and evaluation from Additional Crunch
Will new SEC equity crowdfunding rules encourage more founders to pass the hat? — Corporations can now increase $5 million by way of fairness crowdfunding.
As tech stocks rally, bring on the IPOs — The Trade has heard whispers that the late-November/early-December interval could possibly be lively for brand spanking new filings.
(Reminder: Additional Crunch is our membership program, which goals to democratize details about startups. You can sign up here.)
All the pieces else
CA ballot measure that keeps gig workers as independent contractors is projected to pass — Uber, Lyft, Instacart and DoorDash (the most important backers of California’s Proposition 22) are getting their approach.
Cannabis legalization measures set to pass in five states — Hashish legalization was on 5 state ballots yesterday and ran the desk.
Massachusetts voters pass a right-to-repair measure, giving them unprecedented access to their car data — Underneath the measure, as soon as an individual buys a automobile, they personal all of its knowledge.
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