Monthly Archives: August 2022

Mark Zuckerberg confirms new Meta VR headset will launch in October

Illustration by Alex Castro / The Verge Meta CEO Mark Zuckerberg has confirmed that Meta’s next virtual reality headset will arrive in October. Zuckerberg made the comments on Joe Rogan’s podcast, indicating the device — almost certainly the headset codenamed “Project Cambria” — will likely launch around the company’s annual Connect event. “For the next…

Flexible apartment startups gain more traction, as Landing lands $125M in debt and equity funding

Startups looking to make it easier for people to rent apartments on a flexible, shorter-term basis, are gaining momentum thanks in part to the rise of remote work. Last week, Dealbook reported that a flexible living startup, Flow, founded by WeWork co-founder Adam Neumann, has locked down $350 million from Andreessen Horowitz. Earlier today, TechCrunch…

Block slapped with lawsuit after ex-employee runs off with customer data

Two people are suing digital payments powerhouse Block and its subsidiary Cash App Investing for allegedly failing to properly protect sensitive personal data in a December 2021 data breach.  As per the lawsuit filed in a federal district in Oakland, California, the two individuals saw “unauthorized charges” to their Cash App accounts, and spent many…

A major student-loan company tells borrowers to ‘hold off on calling’ because it doesn’t have any more details on Biden’s debt cancellation

President Joe Biden speaks about student loan debt forgiveness at the White House on August 24, 2022. AP Photo/Evan Vucci Biden canceled up to $20,000 in student debt for federal borrowers on Wednesday. Student-loan company Nelnet told borrowers to “hold off on calling” to get more information. Borrowers are still waiting for further details on…

Surging mortgage rates spur downgrade of homebuilder stocks by Bank of America as the US housing market slows

A worker makes repairs to a home under construction at the Lennar Bridgeway development in Newark, California. Justin Sullivan/Getty Images Bank of America on Thursday downgraded homebuilders Lennar, Toll Brothers and KB Home.  New home demand has dropped over the last three months after two years of unprecedented growth.  Affordability is down, with the average…