The IRS will test a free tax filing service in 2024 for a subset of lucky taxpayers in as many as 13 states, the agency announced today. Direct File, as the service is called, is a shot across the bows of TurboTax, H&R Block and other paid tax prep services, whose owners have resisted free…
Last year’s techwide reckoning continues. The tech industry has seen more than 240,000 jobs lost in 2023, a total that’s already 50% higher than last year and growing. Earlier this year, mass workforce reductions were driven by the biggest names in tech like Google, Amazon, Microsoft, Yahoo, Meta and Zoom. Startups across many sectors also…
General Motors is pushing its $4 billion plan to convert its Orion Assembly plant into an EV truck factory to late 2025, a year later than scheduled. GM’s reasoning behind the delay — which will mean Orion will sit idle for two years — is “to better manage capital investment while aligning with evolving EV…
Venture capitalist Marc Andreessen posted a manifesto on the a16z website, calling for “techno-optimism” in a frenzied, 5,000-word blog post that somehow manages to re-invent Reaganomics, propose the colonization of outer space, and unironically answer a question with the phrase “QED.” Andreessen’s vision of techno-optimism could seem inspiring: he imagines a Libertarian-esque world where technology…
The global venture capital landscape looks quite depressing at this point in time, but fortunately, we’re seeing new and encouraging signs of life in select markets. Europe is one such market, given that the value of venture deals on the continent has been steadily crawling higher this year. Latin America, new data indicates, could be…
Good morning! We have lots of good stuff for you this Tuesday, so let’s dig right in. Up first, we surveyed six investors who are placing bets on AI. We wanted to know how startups should begin building tools for AI; whether startup-focused AI work is defensible; and how tech companies are thinking about monetization….
Reddit is winding down Community Points — the blockchain-based “internet points” program designed to reward creators and developers — in favor of prioritizing rewards programs that are less difficult to scale. “Though we saw some future opportunities for Community Points, the resourcing needed was unfortunately too high to justify,” Reddit’s director of consumer and product…
Apple today announced a new Apple Pencil that offers USB-C and a lower price. But this isn’t an upgraded version of the Apple Pencil. This version lacks some of the advanced features found on the 2nd generation Apple Pencil, forcing users to pick between key features and USB-C recharging. Starting at $79 and available for…
Prove Identity, the smartphone-based identity verification startup that originally made its name years ago as Payfone before rebranding in 2020, has raised $40 million. According to the company, the funding is coming in at a “unicorn status” valuation which would pip it past the $1 billion mark. The company, which has around 1,000 business customers,…
YouTube is rolling out a new set of features for better mobile-based playback, song search, and creator-friendly tools, including a feature that will highlight the “like and subscribe” buttons when a creator utters those words. The company is making it easier for users to increase playback speed. With the new update, users can just tap…