Adidas has cut ties with Ye, the musician and fashion designer formerly known as Kanye West, marking the end of a partnership that made the company billions but was soured by the artist’s repeated brazen antisemitic and offensive remarks.
After weeks of silence and mounting public pressure, the German sportswear giantannounced it would “end production of Yeezy branded products and stop all payments to Ye and his companies,” effective immediately.
Adidas “does not tolerate antisemitism and any other sort of hate speech,” the company said in a statement, adding that “Ye’s recent comments and actions have been unacceptable, hateful and dangerous.”
Kim Kardashian condemns hate speech after Kanye West’s antisemitism
The move comes weeks after Adidas announced it was conducting a review of its collaboration with Ye and his Yeezy brand, shortly after the artist sparked outrage for wearing a “WHITE LIVES MATTER” T-shirt at his Paris Fashion Week show. In the days that followed, he made antisemitic comments on Instagram and Twitter — triggering suspensions — and continued his diatribe on a podcast, where he doubled down on antisemitic tropes. In that same interview, he also falsely claimed that George Floyd, a Black man killed by Minneapolis police, had died from a fentanyl injection.
Leaked video earlier this month also captured him using antisemitic language during an interview with Fox News host Tucker Carlson, released by Motherboard. In it, he suggested his kids should learn about Hanukkah and not Kwanzaa because “at least it would come with some financial engineering.”
Ye’s commentary coincides with a broader rise in antisemitism across the country, experts say. Research from the Anti-Defamation League identified 7,343 antisemitic incidents in 2021, a 5 percent jump from the year prior, and 55 percent increase from 2019.
Adidas’ decision to end its deal with Ye comes two days after hate groups appeared to use his celebrity to advance their agendas. On Saturday, an anti-Jewish group displayed a banner over a Los Angeles highway overpass that read, “Honk if you know Kanye is right about the Jews,” while offering Nazi salutes to oncoming traffic. A picture of the incident went viral.
Elsewhere in California, law enforcement officials scrambled to find individuals who distributed antisemitic leaflets that claimed covid-19 was a Jewish plot.
In the midst of Ye’s scandal, former president Donald Trump posted on his Truth Social microblogging site that American Jews should be more grateful for the state of Israel, “before it is too late,” a comment widely seen as a threat to American Jewry and a repetition of generation-old antisemitic tropes of Jewish dual loyalty.
The backlash against Ye has been growing for weeks. Several companies, including French fashion house Balenciaga, talent agency CAA and Hollywood financier and producer MRC have all ended relationships with the performer.
Numerous celebrities and other public figures have also condemned the performer’s comments and called out Adidas for continuing to do business with him. “@ADIDAS DROP KANYE WEST,” actor and director America Ferrera posted on Instagram, “this is despicable. do not amplify that man’s influence.”
On Monday, Kim Kardashian, Ye’s ex-wife, tweeted: “Hate speech is never OK or excusable. I stand together with the Jewish community and call on the terrible violence and hateful rhetoric towards them to come to an immediate end.”
Ye has had a significant impact on Adidas, with Yeezy generating an estimated $2 billion a year, close to 10 percent of the company’s annual revenue, Morningstar analyst David Swartz said.
The company said in its statement that terminating the relationship was “expected to have a short-term negative impact of up to €250 million on the company’s net income in 2022 given the high seasonality of the fourth quarter.”
Ye, who has won 24 Grammy Awards and released numerous critically acclaimed platinum records, started working with Adidas in 2013. The partnership eventuallymade Ye a billionaire and provided Adidas with a new customer base.
But Ye began airing his grievances with Adidas this summer, when he falsely accused the company of stealing his designs, calling out chief executive Kasper Rorsted by name in a tweet. He went after the company again in early October, releasing a 30-minute online video of a meeting with Adidas executives, whom he accused of doing “wrong by the company, by the business and by the partnership.” Ye also showed the executives a pornographic film.
In an appearance on the podcast Drink Champs, Ye launched into a 10-minute rant about Jewish people and called out Adidas’s delay in ending the partnership.
“The thing about it being Adidas — I can say antisemitic things and Adidas can’t drop me. Now what? Now what?”
Ye’s comments presented a particularly sensitive challenge for Adidas, given the company’s history. Its founder, Adolf Dassler, was a member of the Nazi Party and outfitted the Hitler Youth.
Jewish groups pressed Adidas to end its partnership with Yeezy.
“At a time of rising antisemitism, when incidents in the U.S. reached an all-time high in 2021, such statements are more than damning — they are dangerous,” wrote Jonathan A. Greenblatt, the CEO and national director of the Anti-Defamation League.
Adidas had ended its partnership with Ye, also known as Kanye West, with “immediate effect.”
In a statement Tuesday, the sportswear maker said it “does not tolerate antisemitism and any other sort of hate speech” and said that his recent comments were “unacceptable, hateful and dangerous.” Adidas said they violated the company’s “values of diversity and inclusion, mutual respect and fairness.”
Sales and production of his Yeezy branded products have stopped as well as payments to Ye and his companies. Adidas said it will take a €250 million hit ($246 million) to its fourth quarter sales.
Adidas has partnered with West since 2013, when the company signed his brand away from rival Nike. In 2016, Adidas expanded its relationship with the rapper, calling it “the most significant partnership ever created between a non-athlete and an athletic brand.”
But Adidas put the “partnership under review” in early October after he wore a “White Lives Matter” T-shirt in public. The Anti-Defamation League categorizes the phrase as a “hate slogan” used by White supremacist groups, including the Ku Klux Klan.
Recently, Ye said “I can say antisemitic s*** and Adidas cannot drop me,” during a tirade against Jews on the Drink Champs Podcast. He also threatened on Twitter to “Go death con 3 on JEWISH PEOPLE.”
Anti-Defamation League CEO Jonathan Greenblatt said Adidas’ decision is a “very positive outcome.”
“It illustrates that antisemitism is unacceptable and creates consequences. Without a doubt, Adidas has done the right thing by cutting ties with Ye after his vicious antisemitic rants,” he said in a statement. “In the end, Adidas’ action sends a powerful message that antisemitism and bigotry have no place in society.”
Shares of Adidas fell about 5% in Frankfurt. Adidas said it will release additional information about the financial implications of dissolving its partnership with Ye in its upcoming earnings report on November 9.
The list of brands distancing themselves from West is growing. Balenciaga and Vogue publicly cut ties last week, and on Monday, talent agency CAA dropped West as a client. Production company MRC said that it’s shelving a documentary on West.
Last month, the rapper said he was ending his rocky two-year relationship with the Gap, citing “substantial noncompliance.” Ye said he was left “no choice but to terminate their collaboration,” alleging the company didn’t open branded Yeezy stores and distribute his merchandise as planned, his lawyer said in a statement.
The saga of Ye, not just with Adidas but with brands like Gap and Balenciaga, underlines the importance of vetting celebrities thoroughly and avoiding those who are overly controversial or unstable,” wrote Neil Saunders, managing director of GlobalData in a note Tuesday.
“Although there is room for some tension in fashion, this must never cross the line of decency and basic respect for humanity. Companies or brands that fail to heed this will get stung, especially if they become overly reliant on a difficult personality to drive their business,” he added.
– CNN Business’ Jon Sarlin contributed to this report.
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The educational consultant for Kanye “Ye” West’s unaccredited K-8 private Christian school, who holds a prominent position at two Jewish educational institutions, has resigned, The Hollywood Reporter has learned.
Tamar Andrews, who worked with Donda Academy since July and officially resigned earlier this month, is the director of early childhood education at both Temple Isaiah and American Jewish University, per websites for both institutions. Allison Samek, president of Temple Isaiah of Los Angeles, told THR in a statement: “Dr. Andrews immediately resigned from Donda Academy following Ye West’s tweet. Her last day was October 11, 2022 as she felt she could no longer support the organization.”
West has been widely condemned in recent days for his repeated antisemitic comments. Andrews has yet to respond to THR’s multiple requests for comment, and AJU declined to share a statement.
The rapper quietly opened Donda Academy, located in Simi Valley, in November 2021. Tuition hovers at $15,000 annually, and to attend, students (which currently total less than 100) are required to sign an NDA, and they are often seen wearing Adidas Yeezy Foam RNR shoes as part of their uniform. The head of school is Pepperdine University graduate student Brianne Campbell (who doubles as choir director for Ye’s Sunday Service group).
West’s antisemitic statements — on social media and interviews — have caused CAA, Balenciaga, Vogue and JP Morgan Chase to say they will no longer work with the star. Adidas, the company West has worked with since 2013 to manufacture and distribute items from his Yeezy clothing and footwear line, have yet to make a statement about the future of their relationship with the musician and designer other than to say the business is “under review.” (Morningstar analyst David Swartz told The Washington Post that West’s line generates roughly $2 billion for the German company every year).
However, several Hollywood heavyweights (including Endeavor CEO Ari Emanuel and UTA chief Jeremy Zimmer) have elected to speak out against the artist, particularly after an antisemitic banner was hungcondoning his hate speech with statements like “Kanye is right about the Jews” over the Los Angeles 405 freeway this past weekend. On Monday, Oct. 24, West’s ex-wife Kim Kardashian released a statement condemning antisemitism and hate speech.
“We condemn this weekend’s anti-Semitic incidents. Jewish Angelenos should always feel safe,” Los Angeles Mayor Eric Garcetti posted on Twitter in response to the incident.
“This is an outrageous effort to fan the flames of antisemitism gripping the nation. This group, known for espousing antisemitism and white supremacist ideology, is now leveraging Ye’s antisemitism and is proof that hate breeds more hate,” tweeted Jeffrey Abrams, ADL of Los Angeles Regional Director.
In an interview with Rolling Stone, Andrews supported the academy’s decision to have the parents of each student sign “informal agreements.”
“Honestly, we don’t care if people know about the school,” she said. “The people that want to come to the school are looking for a good Christian school in that area and they know that we’re there … there is also a certain notoriety that comes with being affiliated with Donda. So, I don’t know that we have to advertise, which is a blessing and a curse.”
The academy, which has 16 full-time teachers, is currently accepting applications for the 2023-2024 school year.
According to the Donda Academy website: “Donda students grow in their faith and community through daily all-school worship and celebration at Sunday Service,” which is the spiritual home of West’s gospel choir. It continues: “Our experienced educators have an uncompromised passion for creating lifelong learners and Christ-followers.”
Update: Oct. 24, 6:36 p.m. Updated with news of Dr. Andrews’ resignation.
Kanye West attends the Givenchy Womenswear Spring/Summer 2023 show as part of Paris Fashion Week on October 02, 2022 in Paris, France.
Stephane Cardinale – Corbis | Corbis Entertainment | Getty Images
Major Hollywood talent agency CAA on Monday dropped Ye, also known as Kanye West, as the rapper and business mogul faces intensifying criticism over his recent antisemitic remarks.
“I can confirm that Kanye is not a client,” a CAA representative told CNBC.
The film studio MRC also said it was dropping a documentary about the artist. MRC was behind films such as “Knives Out” and television series such as “Ozark.”
CNBC has reached out to Ye’s legal team for comment.
The moves come as athletic apparel maker Adidas faces growing calls to end its relationship with Ye.
At least three legal organizations have written letters to the German company to cut ties with Ye due to his recent antisemitic comments. Adidas remains one of the few remaining partnerships after he was let go by luxury goods brand Balenciaga last week. His relationship with JPMorgan Chase also ended. Ye himself had previously ditched his relationship with Gap.
“We call on you to end your silence, condemn Kanye’s obscene antisemitism and terminate your partnership with him,” said the latest letter from the International Legal Forum, an organization representing more than 4,000 attorneys and activists.
Ye has taunted Adidas, in turn. “I can literally say antisemitic s— [to Adidas] and they can’t stop me,” West said in a video posted on Thursday.
Liora Rez, executive director of Stopantisemitism.org, wrote in response: “so I ask you, the Adidas Exec. Board, can Ye literally say anything, or will you denounce antisemitism & stop profiting off bigotry towards Jews?”
This follows a letter last week from the Anti-Defamation League urging Adidas to sever ties with the artist. The ADL compiled a list of what it deemed harmful recent comments by Ye.
CNBC has reached out to Adidas several times. Each time, the company pointed us to their Oct. 6 statement saying the relationship is “under review.”
It might be a matter of time before Adidas makes a move, however.
“We may be at the point where Adidas can’t tolerate it anymore,” said Morningstar analyst David Swartz, noting: “Adidas did overlook a lot of nonsense over the years for the sake keeping Kanye happy and keeping the relationship going.”
His relationship with Adidas goes back to 2013 and has been financially successful and high-profile, earning the company about $2 billion annually, according to Swartz.
For years, companies have tolerated Ye’s outbursts due to the fact that he was diagnosed with bipolar disorder, but in recent weeks his behavior has become more incendiary.
Twitter and Instagram blocked him for his antisemitic remarks. In response, he agreed to purchase the right-leaning social media network Parler.
Pressure has mounted for Adidas to terminate its partnership with Kanye “Ye” West after Sunday morning’s show of support of his anti-Semitic comments from hate groups and the resurfacing of a video in which the rapper says, “I can say anti-Semitic things, and Adidas can’t drop me. Now what?”
Following a show of support from an anti-Semitic group who hung banners of support for the rapper with comments like “Kanye is right about the Jews” while doing a Nazi salute, Alexander Vindman, the retired Army lieutenant colonel, who testified during Donald Trump’s 2019 impeachment inquiry, resurfaced a video of the rapper that has now become viral.
“I can literally say anti-Semitic s— and they can’t drop me. I can say anti-Semitic things,” Ye began again, getting close to the mic and smiling at somebody off camera, “and Adidas can’t drop me. Now what?”
“This dude Kanye is a clown. @adidas what do you think about this? He seems to imply you’re okay with antisemitism,” Vinman wrote.
The heat continues to turn up for Ye, whose was locked out of Instagram and Twitter earlier this month after posting a blatantly anti-Semitic messages, one threatening to go “death con 3” on Jewish people. Since then, Jewish celebrities have called him out, saying his “words hurt and incite violence,” and late-night hosts throwing him into the bottomless pit of mockery. An interview with Fox News’ Tucker Carlson only made things worse.
And the floodgates opened, with reactions to the deafening silence from the German corporation that designs and manufactures shoes, clothing and accessories, including a line designed by Ye.
“Hello? @adidas?? Are you there?? Anyone? Stan Smith? David Beckham?? Is this thing on?? #SpeakOut #boycottadidas,” wrote comedian Judy Gold.
“Hey @adidas – we shouldn’t have to tell you what to do. But we’re all watching,” another Twitter user wrote.
George Greenblatt, CEO of the Anti Defamation League said, “Not only has @adidas remained silent on Ye’s #antisemitism, even as hate groups celebrate his dangerous rhetoric — they doubled down on their relationship, scheduling the release of new Kanye products. We must keep pressure on Adidas to #RunAwayFromHate.”
A petition has surfaced on change.org, demanding that Adidas end its partnership with Ye. It reads in part: “We, the undersigned, call on Adidas to end its partnership with Ye, formerly known as Kanye West, due to his repeated antisemitic outbursts. By continuing to align itself with a public figure who has revealed himself to be a virulent antisemite, Adidas would be demonstrating that it does not care about racism against Jews.”
Welcome back to This Week in Apps, the weekly TechCrunch series that recaps the latest in mobile OS news, mobile applications and the overall app economy.
Global app spending reached $65 billion in the first half of 2022, up only slightly from the $64.4 billion during the same period in 2021, as hypergrowth fueled by the pandemic has slowed down. But overall, the app economy is continuing to grow, having produced a record number of downloads and consumer spending across both the iOS and Google Play stores combined in 2021, according to the latest year-end reports. Global spending across iOS and Google Play last year was $133 billion, and consumers downloaded 143.6 billion apps.
This Week in Apps offers a way to keep up with this fast-moving industry in one place with the latest from the world of apps, including news, updates, startup fundings, mergers and acquisitions, and much more.
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Kanye West to acquire Parler
Kanye West announced on October 17 that he has entered a deal to buy Parler, the “free speech” platform where the rapper, who also goes by Ye, believes he can’t be “canceled” as on other social apps — aka being held accountable for his antisemitic posts in violation of platform policies. West had accused Twitter and Meta of censoring his conservative opinions. Parler, meanwhile, is a known haven for conservatives to the point that it had been pulled down from the App Store and Google Play following the January 6 Capital riots for its role in inciting violence. Apple allowed the app back in earlier this year, but Google only recently did the same.
Assuming the deal goes through, it could be a good outcome for Parler. To date, the startup had raised $56 million — what West paid, however, is unknown.
TikTok to add “adult-only” livestreams
TikTok is venturing into new territory with the addition of adult-only livestreams. This change will allow creators to target only TikTok users ages 18 and up in order to broadcast about topics that aren’t appropriate for children or may just be uninteresting to them. The company is not going to compete with OnlyFans, however — these adult streams won’t be featuring actual adult content, as that’s still against TikTok’s policies.
In addition, TikTok will now require users to be at least 18 years old before they’re allowed to go live on the platform.
While the changes seem sound in theory, TikTok users — kids, often — do lie about their ages when joining the app. There’s no good solution for this problem, beyond the use of age-verification technologies like video selfies, which come with their own set of issues around privacy.
BeReal’s B round
TechCrunch learned that the startup closed a $60 million Series B round earlier this year. The round values Paris, France-based BeReal at a valuation north of €600 million — which at today’s exchange rates is just under $587 million. (BeReal’s valuation was previously reported by Insider and then The Information.)
A source told TechCrunch the company now has around 20 million DAUs. For comparison, The Information noted that the app had 7.9 million users as of July of this year. We also heard the app had around 2 million DAUs as of this April.
BeReal is facing competition now from social giants TikTok, Instagram and Snapchat, which have all cloned its main feature of dual photos (photos taken at the same time using the front and back cameras). But the DAU growth indicates BeReal may still be the one to beat when it comes to capturing the attention of the younger Gen Z audience.
Platforms: Apple
Image Credits: Apple
Apple is rolling out iOS 16.1 on Monday, October 24. The update, which comes alongside macOS Ventura, will include the launch of Apple Fitness+ for iPhone, which will allow subscribers to use the service for the first time without an Apple Watch. In addition, iOS 16.1 will include the multitasking feature Stage Manager, Live Activities for third-party apps, iCloud Shared Photo Library, Key Sharing in the Wallet app, Clean Energy Charging, support for Matter, the newly announced Apple Card savings account option and more.
Apple announced a set of major hardware updates, including a new M2 iPad Pro (arriving October 26), new Apple TV 4K with a performance bump and lower price and the new entry-level iPad.
Platforms: Google
Image Credits: Google
Google announced Android 13 (Go edition) this week, which includes several premium features for affordable smartphone lineups, including the Material You design, Discover feed, Notficiations Permissions, per-app language settings and a way for users to receive essential updates to Android without having to wait for manufacturers to release them, along with other things. The update will now require at least 2GB of RAM and 16GB of flash storage. Google said 250 million devices run the Android Go OS.
Google introduced a refreshed Family Link parental controls app and a web version. The updated app includes a three-tabbed redesign showcasing highlights of the child’s device usage, an overview of their limits and a controls tab for setting the limits. There’s also a new feature, “Today’s Limit,” which lets parents adjust the day’s screen time without having to change their ongoing schedule. And the app can now track kids’ locations when they arrive at specific places, like school.
E-commerce
Image Credits: Klarna
Klarna launched a new Klarna Creator app for retailers and influencers to collaborate on brand campaigns and to track earnings, performance and sales. Over 500,000 vetted creators have access to leading brands and retailers, the company said. On the app, retailers can direct-message a creator they want to partner with and send them products for content. The app also has a tracking feature for sales and commissions.
A new app called Drivr introduces a crowdsourced tipping platform that uses data science to map last-mile delivery drivers to neighborhoods to allow shoppers to tip their regular delivery drivers.
PayPal launched a revamped rewards program that combines Honey’s discounts with other ways to earn. Honey, acquired by PayPal for $4 billion in 2019, will continue to offer Honey Gold, but it’s being rebranded as PayPal Rewards. Consumers will be able to collect rewards via the Honey browser extension, the PayPal app and, in the future, various card products.
Jane Technologies’ cannabis marketplace launched in a dedicated iOS app that lets consumers browse local cannabis dispensaries and make purchases.
Image Credits: Jane Technologies
Fintech
TechCrunch Disrupt Startup Battlefield company Staax pitched its app that attempts to onboard a younger generation of stock investors using peer-to-peer payments of stock.
web3
Jack Dorsey’s Bluesky detailed its plans for decentralized social networks that would limit governmental and corporate influence on the future of social media.
Solana co-founder Anatoly Yakovenko, speaking at TechCrunch Disrupt, described the upcoming web3-focused smartphone Saga as a moonshot aimed at taking on Apple and Google by offering a distribution channel for mobile crypto developers. The phone will allow developers to maintain digital ownership rights instead of paying the Apple (and Google) tax of 30%.
Social
Pinterest partnered with record labels to bring popular music to its TikTok rival, Idea Pins. The company is now working with Warner Music Group, Warner Chappell Music, Merlin and BMG to offer users access to thousands of songs from top artists, accessible in the Pinterest app for iOS and Android.
Instagram is expanding its “Hidden Words” feature, which lets you filter out abusive DMs using keywords and emoji, to also cover replies to Stories and catch intentional misspellings made to avoid filters. It also expanded its preventative blocking tool to proactively block more accounts from the abuser and added more nudges to remind users about to post a harmful comment to be kind.
Image Credits: Instagram
Instagram is also now testing an in-app scheduling tool for posts and Reels, which would be helpful to creators and brands who want to queue up posts in advance.
Over 3 million Reddit users created crypto wallets to buy NFT avatars, Reddit chief product officer Pali Bhat said this week at TechCrunch Disrupt. Reddit’s Vault blockchain wallet was used to create the crypto wallets. And most — 2.5 million — were created to purchase NFT avatars that can be used as their Reddit profile pics.
Snapchat updated its Snapchat+ subscription with three new features, including those that allow subscribers to have their Snapchat Stories expire at different intervals instead of 24 hours, add new camera color borders that appear when taking photos with the in-app camera and use different custom notification sounds for when a friend Snaps them. Snapchat+ now has more than 1 million subscribers and over a dozen exclusive features.
Image Credits: Snap
Dating
A new “relationship app” (as opposed to a dating app) called Sparks launched to help couples find things to do together, like choosing movies, restaurants, vacations, activities and more.
Messaging
Google updated its RCS-powered Messages app with several new features, including the ability to react to texts sent from an iPhone, set reminders and have an in-app YouTube video player to watch videos without leaving the app.
Streaming & Entertainment
Image Credits: Musixmatch
Spotify’s lyrics provider, Musixmatch, launched a new platform for podcast transcriptions using AI models and NLP. The service is meant to help people search by topics to get accurate matches of related podcasts when using its app.
Netflix reversed its downward trend with its Q3 earnings by adding 2.41 million subscribers in the quarter, higher than analyst estimates and its own forecast of just 1 million subs. It also pulled in $7.93 billion in revenue — more than analysts’ predictions of $7.85 billion.
The company also announced at TechCrunch Disrupt this week that it’s “seriously exploring” a cloud gaming effort to complement its mobile gaming efforts, and is opening a fifth gaming studio in Southern California.
Google introduced a set of parental controls and other features to its streaming platform Google TV, including the ability for parents to add titles to kids’ watchlists, AI-powered suggestions and a supervised experience that allows kids to access the YouTube app with the appropriate content restrictions in place.
Apple is bringing its immersive surround sound, Spatial Audio, to cars, starting with Mercedes-Benz and Universal Music Group.
Gaming
Microsoft revealed it’s building an Xbox mobile gaming store to challenge Apple and Google, according to filings made with the U.K.’s Competition and Markets Authority. The company said part of the motivation for its purchase of Activision Blizzard would be to establish an Xbox mobile gaming platform and store.
Discord launched an app directory that will allow server admins to build out their server with useful or fun utilities. Some developers will also be able to sell premium app subscriptions within the platform.
Roblox reported DAUs of 57.8 million in September, up 23% year-over-year. Hours engaged were 4 billion, up 16%, and estimated bookings came in between $212-219 million.
Health & Fitness
Subscription-based mindfulness app Calm announced its first mental health offering, Calm Health, offered through payers, providers and self-insured employers. The service, built on its acquisition of Ripple Health Group, connects users with different healthcare options.
Productivity & Utilities
Image Credits: Google
Google announced its new Lock Screen widgets for iOS 16 are officially available. These include widgets for Gmail, News, Search, Maps and Chrome. It also launched a YouTube Music Lock Screen widget for accessing recently played songs, and finally launched YouTube Home Screen widgets that let you watch Shorts and other videos, or access your subscriptions with a tap.
Google also rolled out an update to Chrome that makes the browser better suited to Android tablets. The release includes new features like a side-by-side view for improved tab navigation and the ability to drag and drop information out of Chrome and into other apps like Gmail, Keep and Photos.
Travel & Transportation
Uber officially launched its advertising division and a new in-app ad experience, Journey Ads, on Wednesday. The company will sell ad space inside its ride-hailing and Uber Eats apps, and elsewhere.
Government & Policy
Wired reports on how China’s WeChat app has become a hotbed for misinformation ahead of the U.S. elections. Activists are concerned the falsehoods will distort the vote or surpass turnout, the media outlet said.
India fined Google $162 million for anti-competitive practices on Android. The Competition Commission of India said that Google requiring device manufacturers to pre-install its entire Google Mobile Suite and mandating prominent placement of those apps was unfair competition.
A server room fire shut down Korean tech giant Kakao’s apps, impacting Kakao Pay, Kakao T (ride-hailing) and messaging service Kakao Talk, leading to concerns about Kakao’s grip on the market. As the services were coming back online after the outages, President Yoon Suk-yeol said his administration would investigate whether Kakao was a monopolist.
Apple restored Russian apps for VKontakte and Mail.ru to the App Store after removing them three weeks prior due to U.K. sanctions. Apple’s statement said the developer provided documentation to verify they were not in violation of the U.K. sanctions — that is, they are not majority owned or controlled by a sanctioned entity.
Meta has been ordered by the U.K.’s competition authority to sell the animated GIF platform Giphy. The regulator believes Meta’s purchase of Giphy would limit choice for U.K. social media users and reduce innovation in U.K. display advertising.
💰 Nexta, an Egyptian fintech that plans to launch its banking app in the coming months, raised $3 million from eFinance Group, a state-owned provider of digital payments solutions.
💰 French app Revyze, a TikTok for educational videos, raised a $2 million pre-seed round (€2 million) from more than 100 business angels earlier this year. It’s aiming to reach 500,000 users by year-end and expand to the U.S.
💰 Amsterdam-based Crisp, an app-only supermarket, raised €75 milliom in a round of funding from both new and existing investors.
Kanye West, who now is legally known as Ye, is buying conservative social media company Parler, a move following Instagram and Twitter’s decisions to suspend the rapper’s accounts over a series of widely condemned antisemitic posts.
In an interview during Yahoo Finance’s All Markets Summit on Monday, Former Trump adviser Gary Cohn described Ye’s recent offensive posts as “just unacceptable.”
“I’ll say the same thing about Kanye West’s remarks as I said to the President of the United States at the time,” Cohn said, referencing his reaction to then-President Trump blaming ‘both sides’ for violence at a white nationalist rally in Charlottesville, Virginia.
“It’s unacceptable in this day and age, in the world that we live in, for people in a leadership position with that big of a platform, with that big of a microphone, to make those types of comments.”
Kanye West and Carine Roitfeld attend the Givenchy Ready to Wear Spring/Summer 2023 fashion show as part of the Paris Fashion Week on October 2, 2022 in Paris, France. (Photo by Victor VIRGILE/Gamma-Rapho via Getty Images)
West appears to be justifying his purchase of Parler as a move to defend free speech, saying in a statement that: “In a world where conservative opinions are considered to be controversial we have to make sure we have the right to freely express ourselves.”
Parlement Technologies CEO George Farmer wrote: “This deal will change the world, and change the way the world thinks about free speech. Ye is making a groundbreaking move into the free speech media space and will never have to fear being removed from social media again.”
Last week, Twitter (TWTR) and Meta (META) removed posts from Kanye West for violating company policies. In one post, which was removed by Instagram, Ye suggested rapper Sean “Diddy” Combs was controlled by Jewish people.
Hours later, Ye wrote in a tweet which was quickly removed by Twitter that he would go “death con 3 on JEWISH PEOPLE.”
Seana Smith is an anchor with Yahoo Finance. Follow her on Twitter at @SeanaNSmith.
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Vogue and its editor-in-chief Anna Wintour have “no intention” of working with Kanye West again.
A representative told PageSix the magazine cut its ties after the rapper made antisemitic comments.
It comes after a slew of other companies including Balenciaga distance their brands from West.
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Ye, the artist formerly known as Kanye West, is facing consequences for the slew of antisemitic and offensive remarks he recently made.
One such repercussion is the end of his relationship with Vogue and its editor-in-chief, Anna Wintour, PageSix reported.
According to the outlet, a representative said the magazine and Wintour had no intention of working with the rapper again after West ranted about Jewish people in a tweet on October 9. The tweet was removed by the social media platform for violating its guidelines and Twitter later confirmed to Buzzfeed News that he’d been banned from the platform.
It also came after he made similar offensive remarks during a Fox News interview with Tucker Carlson and a now-deleted Instagram post, Insider previously reported.
Wintour’s decision to cut ties with Ye may come as a personal loss for the rapper, as the pair have been friends for more than a decade. According to PageSix, their relationship began after the Vogue editor invited Ye to his first Met Gala in 2009. Since then, they have been spotted sharing lunches together and supporting each other’s business endeavors.
Kanye West and Anna Wintour at a Givenchy show in Paris in March 2009.
Dominique Charriau/WireImage
As recent as September, Wintour was seen modeling a pair of Yeezy sunglasses with Ye at New York Fashion Week, The Sun reported.
Representatives for Wintour and Vogue, owned by Conde Nast, did not immediately respond to Insider’s request for comment.
Vogue is also not the only organisation to distance itself from the rapper following his recent comments. On Thursday, Balenciaga’s parent company said that it no longer had a relationship with Ye, Insider reported.
And earlier this month, Adidas announced it was reviewing its relationship with Ye.
“After repeated efforts to privately resolve the situation, we have taken the decision to place the partnership under review. We will continue to co-manage the current product during this period,” the company said in a statement, CNBC reported.
Truth Social CEO Devin Nunes said Trump and him “like the fact” Kanye West is buying Parler.
Nunes told Fox Business only Truth Social and Rumble act as a fail-safe for American free speech.
“We are basically building an entire parallel ecosystem that cannot be canceled,” Nunes said.
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Donald Trump and Truth Social welcome Kanye West’s purchase of right-wing social media platform Parler, the CEO of Truth Social told Fox Business.
“We like the fact that Kanye West is buying Parler,” Devin Nunes said.
Nunes said it is “absolutely necessary” to have free speech to allow Americans to voice their political views so that citizens can’t be silenced by “tricky algorithms” and “shadow-banning”.
The owner of Parler announced this week that West, who now calls himself Ye, had agreed to buy the platform, which was used by Capitol Hill rioters to gather support. Apple and Google’s app stores banned it after January 6 but later reversed their decision after Parler agreed to introduce content moderation policies.
The announcement came less than a week after the rapper made antisemitic comments on Twitter, before he was locked out from his account and his tweet was removed.
In an interview with Bloomberg this week, Ye said he would invite Trump to join the platform, which he said would be for those “bullied by the thought police”.
Nunes seemingly implied that only Truth Social and Rumble have protected American free speech this year.
“We are basically building an entire parallel ecosystem that cannot be canceled by the Amazons of the world and these other big tech companies like we saw happen to Parler,” he added.
The former congressman suggested that having an “open internet” was the sole basis for Truth Social’s popularity and why center-right conservatives favored the platform Rumble.
“The main reason that I left Congress was precisely because of the censorship that was going on in this country,” Nunes said.
“The goal that President Trump and I have set forward here is a very simple one, and that is to reopen the internet, to give the American people their voice back,” he said.
The Republican reiterated his support for Musk’s acquisition of Twitter, which he previously encouraged as a way to “take on these tech giants.”
Truth Social did not immediately respond to Insider’s request for comment.
