Jing Yang / Wall Street Journal: Sources: Alibaba is delegating more responsibility to presidents of its business units to shed its monolithic image in the wake of China’s regulatory crackdown  —  CEO Daniel Zhang is devolving power to unit presidents as competition grows and big platforms come under pressure in China

Michael Levenson / New York Times: Pinterest settles lawsuit by shareholders over allegations of discrimination by pledging $50M to overhaul its corporate culture and promote diversity  —  Pinterest pledged $50 million to overhaul its corporate culture and promote diversity as part of an agreement to resolve allegations …

Reuters: Chinese state media says a regulator told Tencent to submit any new apps or updates for inspections through December 31; Tencent says its apps remain functional  —  Tencent Holdings’ (0700.HK) apps remain functional and available for download, the company said on Wednesday in response …

Jonathan Haidt / The Atlantic: Regulators and legislators should mitigate Instagram’s harmful effects on teen girls by toughening COPPA and forcing Facebook and others to share data  —  Social media gets blamed for many of America’s ills, including the polarization of our politics and the erosion of truth itself.

Mary Ann Azevedo / TechCrunch: São Paulo-based buy now, pay later startup TruePay raises a $32M Series A led by Addition, three months after raising an $8.5M seed  —  Global investors continue to be drawn to LatAm.  —  TruePay, a one-year-old São Paulo-based “buy now, pay later” startup …

Eli Tan / CoinDesk: Scotland-based BetDEX, which is building a sports betting protocol on the Solana blockchain, raises a $21M seed led by FTX and Paradigm  —  Crypto exchange FTX and crypto investment firm Paradigm led the raise, which included a number of prominent venture capital firms.

Bloomberg: China is warning state firms to exit cryptocurrency mining and is considering punitive measures for those that do not comply  —  China is warning its own state-owned enterprises to get out of cryptocurrency mining and is considering imposing punitive measures in the form of higher power prices …

TechCrunch: PitchBook: female-founded startups raised a record $40.4B across 2,661 VC deals in the first three quarters of 2021, with the value of exits reaching $59B  —  The coronavirus pandemic disproportionately reduced venture capital funding for female founders last year, despite a greater boom …

Bloomberg: Sources: Zillow is pitching institutional investors on the sale of 7K homes for ~$2.8B to recover from buying too many, which it blames on its bidding algorithm  —  – Online listing giant has been buying thousands of homes  —  Zillow Group Inc. is looking to sell about 7,000 homes as it seeks …

Zack Zwiezen / Kotaku: After a three-day outage, Roblox says it is back online  —  According to Roblox’s status page, all versions of the game have been down since Oct 28 starting at 7 pm EST  —  Roblox, one of the most popular games in the world, has been down for over a day now and while many frustrated players …

Tom Warren / The Verge: Roblox has been down since about 7PM ET on October 28, with some speculating the outage may be related to a Chipotle promotion, but the company denies a link  —  Roblox is having some major server issues  —  Roblox has been down for more than two days, with the game and its related website offline for millions of players.

Tom Warren / The Verge: Microsoft reports overall gaming revenue of $3.6B in Q1, up 16% YoY, with hardware revenue up 166% YoY on continued demand for Xbox Series X and S consoles  —  Microsoft’s overall cloud revenue has jumped by 31 percent  —  Microsoft posted the first quarter of its 2022 financial results today …

Joe Rossignol / MacRumors: Apple says iOS 15.1, iPadOS 15.1, watchOS 8.1, and tvOS 15.1 will be available next week; macOS Monterey will be released on October 25  —  Apple today announced that iOS 15.1, iPadOS 15.1, watchOS 8.1, tvOS 15.1, and macOS Monterey will all be released as free software updates next week.

New York Times: Internal docs: Instagram spent the majority of its global annual marketing budget since 2018 targeting teenagers, as it worries about losing its user “pipeline”  —  The app, hailed as Facebook’s growth engine, has privately wrestled with retaining and engaging teenagers, according to internal documents.

Sarah Perez / TechCrunch: Facebook adds an Audio hub to its app in the US, featuring podcasts, Live Audio Rooms, and short-form audio, and rolls out Live Audio Rooms globally  —  Facebook is expanding its investment in audio initiatives with the launch of a new “Audio” destination in its mobile app in the U.S. …

Wall Street Journal: Analysis of leaked data from 4.9M Twitch accounts: the top 1% of streamers made over half of the money paid out in 2021, 3/4 made under $120, and more  —  The top 1% of paid streamers so far this year got over half of all revenue … Twitch streamer earnings this year

VentureBeat: London-based freight forwarding and supply chain finance startup Beacon raises $50M Series B led by Northstar.vc, claims revenue has grown 12x in the last year  —  Join gaming leaders online at GamesBeat Summit Next this upcoming November 9-10.  Learn more about what comes next.

Lauren Thomas / CNBC: Rent the Runway, whose online marketplace offers subscription fashion rentals, files for IPO and reports loss of $84.7M on revenue of $80.2M in H1 2021  —  – Rent the Runway filed for an initial public offering on Monday and revealed its subscriber base tumbled during the Covid pandemic but has since started to grow again.

Sami Fathi / MacRumors: Kuo: Apple has canceled plans to release an iPad Air with an OLED display in 2022 due to quality and cost concerns, will still release mini-LED 11″ iPad Pro  —  Apple has canceled its plans to release an updated iPad Air with an OLED display next year due to concerns around quality and costs …

Mike Isaac / New York Times: Internal memo by Nick Clegg says a whistleblower is expected to appear on Sunday’s “60 Minutes” and accuse Facebook of contributing to US political polarization  —  In an internal memo, Facebook defended itself and said that social media was not a primary cause of polarization.