Tech

In this articleBTC.BS=-USSBTC.CB=The logo for Coinbase Global Inc, the biggest U.S. cryptocurrency exchange, is displayed on the Nasdaq MarketSite jumbotron and others at Times Square in New York, U.S., April 14, 2021.Shannon Stapleton | ReutersCoinbase shares were up about 3% in after-hours trading on Thursday, after reporting that revenue and net income skyrocketed in the first quarter of 2021 as the cryptocurrency trading platform capitalized on a boom in crypto prices and corresponding interest from investors. The results largely matched estimates that Coinbase delivered on Apr. 6, about a week before its public debut.Here’s how the cryptocurrency exchange did in its first earnings report since the company’s direct listing in April:Earnings: $3.05 per shareRevenue: $1.80 billion, up from $585 million in the previous quarter.The company’s net profit for the quarter was over $771 million, more than four-fold over Q4 2020’s figure of $177 million and more than 24 times higher than the year-ago quarter’s profit.Monthly transacting users more than doubled from the previous quarter, from 2.8 million to 6.1 million. Coinbase’s 56 million verified users, along with record-breaking price moves in the crypto market, led trading volume to more than triple from the previous quarter.Coinbase’s fate is tethered to the performance

In this articleGOOGLThomas Kurian, chief executive officer of cloud services at Google LLC, speaks during the Google Cloud Next ’19 event in San Francisco, California, U.S., on Tuesday, April 9, 2019. The conference brings together industry experts to discuss the future of cloud computing.Michael Short | Bloomberg | Getty ImagesGoogle announced on Thursday its cloud unit has won a deal to supply computing and networking resources to SpaceX, Elon Musk’s privately held space-development company, to help deliver internet service through its Starlink satellites.SpaceX will install ground stations at Google data centers that connect to SpaceX’s Starlink satellites, with an eye toward providing fast internet service to enterprises in the second half of this year.The deal represents a victory for Google as it works to take share from Amazon and Microsoft in the fast-growing cloud computing market.Investors are counting on Google’s nascent cloud business to boost growth in the event that its advertising business slows down. While Google’s cloud business delivered only 7% of parent company Alphabet’s total revenue in the first quarter, it grew almost 46% year over year, compared with growth of 32% for Google’s advertising services.It’s also an unusual type of deal for Google — or any other

In this article9984.T-JPBillionaire investor Masayoshi Son told CNBC he was not concerned that a handful of technology companies were becoming too powerful and crowding out the landscape for start-ups to succeed.The SoftBank CEO made his comments in an interview with “Squawk Box” co-host Andrew Ross Sorkin that aired Thursday. Through its two Vision Funds, Son’s Japan-based conglomerate has invested billions of dollars into around 200 start-ups across the world.Officials in the U.S. and Europe have increasingly been taking a harder look at whether tech titans such as Amazon, Google-parent Alphabet, Apple and Facebook engage in anti-competitive practices. The E.U. has been more aggressive in its pursuit, handing out numerous antitrust fines to Alphabet in particular.In the U.S., Democratic lawmakers in Washington last year released an extensive antitrust report on those four companies, concluding they hold monopoly power. In some cases, the report called for the parts of their businesses to be spun off. President Joe Biden, who took office earlier this year, also has signaled a tougher stance toward Big Tech with two of his selections for administration roles.But Son does not share the same view.”Those big companies, of course, have to behave within the reasonable range, but they are

A person using the Uber app in London. Peter Summers | Getty Images LONDON — Uber’s troubles in the U.K. aren’t over, despite winning back its license to operate London. The ride-hailing firm is awaiting a major ruling from the country’s top court on whether its drivers should be classified as workers rather than independent contractors. It’s a case that echoes Uber’s fight with Californian regulators over the employment rights of its drivers last year. A loss for the firm could jeopardize its business model and have broader ramifications for the so-called gig economy. Here’s what you need to know. How did we get here? It all started with a U.K. employment tribunal ruling in 2016. The tribunal ruled in favor of a group of Uber drivers, led by Yaseen Aslam and James Farrar, who claimed they were workers employed by Uber and therefore entitled to rights such as a minimum wage, holiday pay and rest breaks. Former Uber drivers James Farrar (L) and Yaseen Aslam react as they leave the Employment Appeals Tribunal in central

Google’s “resilience” lead Lauren Whitt installed a series of tutorials and video content for Google employees experiencing burnout while working through the pandemic. Google Throughout the coronavirus pandemic, Google has emphasized employee health, establishing long-term remote work plans and offering periodic days off called “reset” days. Even that hasn’t been enough to deal with the mental stress caused by the virus. “Covid-19 is something we weren’t anticipating or frankly prepared for from a mental skills approach,” said Lauren Whitt, whose title at Google is wellness manager and resilience lead. She has a big job, “helping Googlers meet the moment they’re facing today.” Whitt told CNBC in an interview that, in seeking out strategies to help Google’s 130,000-plus employees deal with the ongoing crisis, the company is leaning on “resilience training,” a phrase typically reserved for professional athletes and combat fighters. The company said it has expanded existing programs and created weekly short instructional videos from athletes, coaches and psychologists, which employees are watching with greater frequency. Alphabet’s chief financial officer, Ruth Porat, who organized the early crisis response efforts, said last week that the company has rebounded