#1 | SoftBank takes control of WeWork, Adam Neumann to step down

SoftBank is taking control of WeWork in a deal that will cost the Japanese conglomerate $5 billion in new financing and up to $3 billion in an offer for existing shareholders. Previously agreed $1.5 billion financing commitment will be honored, increasing SoftBank’s stake in WeWork to around 80 percent. Former WeWork CEO Adam Neumann is likely to get as much as $1.7 billion to give up his voting rights and step down as chairman of the board of directors. He will be replaced by SoftBank’s chief operating officer, Marcelo Claure. These events mark an end to several turbulent weeks during which the co-working company pulled its IPO filling amid heavy criticism for mounting losses as well as apparent conflicts of interest and unusual leadership style of Neumann. Read more: https://cnb.cx/340U92Y

#2 | Google claims it has achieved ‘quantum supremacy’

Google has announced that its quantum processor successfully completed a calculation in just a few minutes that would take typical supercomputers thousands of years. Ultra-fast information processing is made possible by manipulating quantum bits, or qubits, that can be in multiple places simultaneously. IBM dismissed Google’s claims, arguing that its supercomputer called Summit can do the same calculation in 2.5 days. Nonetheless, major tech giants are racing to improve their quantum computing capabilities, attracted by the prospect of technology that attracted the interest of the private sector and powerful governments including the US and China. Quantum computers might eventually be able to break today’s best cryptography, making the development of this technology a matter of national interest. Read more: http://bit.ly/2NbNNXK

#3 | Facebook to spend $1 billion on affordable housing projects

Facebook has pledged $1 billion to affordable housing projects in California. The money will be used to, among other things, build 20,000 new housing units for teachers, nurses, first responders, and other essential workers. Google made a similar move in June, vowing to help fix the issue it helped create. Tech giants employ tens of thousands of employees, many of which are low-paid contract workers that are squeezed out of cities and commute for hours every day. Median rent prices in San Francisco are at an all-time high, with the rent price of a one-bedroom apartment hitting almost $4,000. This means that anyone but the well-paid tech workers and ultra-rich entrepreneurs can afford to purchase or rent a home in city areas. Read more: http://bit.ly/2We11qN

#4 | Verizon will give customers a year of Disney Plus for free

Verizon is offering new and existing customers a free year of a highly anticipated Disney’s new video streaming service. The promotion will enable millions of people to access a range of films from Disney, Star Wars, Marvel, National Geographic, and various TV series, such as “The Simpsons”. The Disney Plus service, which debuts November 12, will also provide customers with 25 original series and 10 original films in its first year. This move is yet another challenge for Netflix, whose streaming service is used by 158 million subscribers but the entry of Disney, Apple, AT&T, and Comcast into this market has led to Netflix’s stock losing about a third of its value in the last 16 months. Read more: https://wapo.st/2BFeDSF

#5 | Musk sends the first tweet using Starlink broadband satellite 

Elon Musk recently tweeted using a Starlink satellite operated by his company SpaceX. “Sending this tweet through space via Starlink satellite,” he wrote, signaling the major breakthrough towards providing fast and cheap internet access across the globe. SpaceX’s technology will be especially useful for people that live in underserved and remote areas. The company planned to launch around 12,000 satellites but is now seeking approval to deploy 30,000 satellites more to build an impressive mega-constellation. Astronomers such as Alex Parker worry that these plans could eventually block our view of the stars and lead to the increased likelihood of satellite collisions. This might prevent the human civilization from accessing space for several centuries. Read more: http://bit.ly/2NaaknJ


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