Good morning! This is the tech news you need to know this Wednesday.
Facebook’s ads business is being hurt by coronavirus — even though the lockdown has caused unprecedented usage. Much of the activity is on unmonetized services, while advertisers are pulling back due to the pandemic.
Startup founders say investors are using the coronavirus to renege on term sheets. Founders and other investors described how some VCs were responding to the crisis by lowering valuations and backing away from deals.
Amazon says the Pentagon isn’t really serious about fixing the JEDI process and accuses it of wanting to give Microsoft a ‘do-over’ in $10 billion cloud contract. Amazon had initially cheered the Defense Department’s request to remand the case in order for the Pentagon to reconsider its decision.
Apple expects to start reopening its retail stores in the first half of April. According to a new report from Bloomberg, the company will begin reopening its nearly 500 retail stores around the world next month on a staggered basis.
SoftBank considered a big move to take the company private before settling on a plan to sell off billions in assets. According to the Financial Times, SoftBank held …read more
Source:: Businessinsider – Tech