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September 1, 2024, 1:25 PM
 

September 1, 2024

12:55 PM  •
Kyle Wiggers / TechCrunch:  A look at NightCafe, a bootstrapped generative art marketplace with 25M users who created ~1B images; source: it has $4M annualized revenue with a ~50% margin
10:20 AM  •
Mark Gurman / Bloomberg:  A look at Apple's strategy to keep retiring execs involved in a reduced role; sources: M4 Mac mini will have 5 USB-C ports, internal power supply, and no USB-A
6:50 AM  •
Teresa Xie / Bloomberg:  A look at the surge of interest-based sites as users grow weary of big platforms; MAUs for Letterboxd, Strava, and AllTrails grew 55%, 20%, and 10% YoY in H1
1:50 AM  •
Gabriel Stargardter / Reuters:  A look at France's J3 cybercrime unit behind Sky ECC and Encrochat prosecutions, which now leads the case against Telegram's Pavel Durov

August 31, 2024

11:55 PM  •
Stephanie Stacey / Financial Times:  Tinder, Hinge, Bumble, and Grindr are building or testing AI tools and chatbots to generate icebreakers, coach users, and more, in a bid to bring back users
9:05 PM  •
Wall Street Journal:  Big YouTube shows including Hot Ones and Good Mythical Morning attract large audiences but aren't yet getting Primetime Emmy nominations and ensuing ad revenue
6:25 PM  •
New York Times:  How Brazil's experiment to fight fake news during the 2022 elections, giving a justice broad power to order social media content removal, led to the ban on X
5:10 PM  •
Eric Newcomer / Newcomer:  A look at the farcical situation at Bolt as it insists in a letter that Silverbear is on the hook to invest $200M; source: Bolt lost $310M on $27M 2023 revenue
4:30 PM  •
Mishaal Rahman / Android Authority:  In a lawsuit, OSOM's ex-chief privacy officer alleges that the CEO of the smartphone startup misused funds to pay for his racing hobby and lavish lifestyle
4:01 PM  •
New York Times:  Bluesky reports a record spike in usage as many X users in Brazil move to Bluesky and Threads; Brazil is X's fifth-largest international market, with 20M+ users
2:50 PM  •
The Information:  Coatue founder Philippe Laffont has left the board of ByteDance following a report that Coatue was considering selling a portion of its ByteDance stake
2:05 PM  •
Nick Burns / Americas Quarterly:  A profile of Alexandre de Moraes as even some supporters wonder if the Brazilian Supreme Court judge has become too powerful and gone too far by banning X
12:45 PM  •
Mike Masnick / Techdirt:  X is right to stand up to Brazil's unjust “hostage laws,” but Musk's fight highlights his cynical free speech stance after he caved to Modi's censorship demands
11:50 AM  •
Kevin Roose / New York Times:  A reporter tries fixing his reputation with AI chatbots, including by adding a “strategic text sequence” to data sources, and via an AI optimization startup
9:50 AM  •
Wall Street Journal:  How the Israeli army's Unit 8200 became an incubator for cybersecurity startups, with its alumni starting Wiz, Palo Alto Networks, and other companies
5:50 AM  •
Ed Newton-Rex / Music Business Worldwide:  It's time for audio services like Spotify to deal with AI by using labels and banning or downweighting music made with AI tools that don't license training data
1:50 AM  •
Matt Stoller / BIG:  Social media companies' reliance on Section 230 protections is in jeopardy after a US court ruled TikTok's algorithmic curation is not protected by Section 230

August 30, 2024

11:40 PM  •
Taylor Soper / GeekWire:  Amazon hires the founders of industrial robot maker Covariant and ~25% of its staff, and signs a non-exclusive license to Covariant's robotic foundation models
9:15 PM  •
Jon Brodkin / Ars Technica:  A Texas federal judge who held Tesla stock denies a motion to dismiss X's lawsuit accusing Media Matters of misrepresenting the amount of extremist content on X
6:30 PM  •
Dominic Ponsford / Press Gazette:  An analysis of 6,599 keywords shows Google is offering AI Overviews for 17% of queries in the UK and US, but rarely for searches about current events
5:00 PM  •
New York Times:  Brazilian judge amends his order, no longer requiring Apple and Google to prevent downloads of X's app; those using a VPN to access X still face a ~$9K/day fine
4:20 PM  •
Kalley Huang / The Information:  Mark Zuckerberg says Meta AI has over 185M weekly active users and over 400M MAUs and it's “growing quickly” even without a rollout “in UK, Brazil, or EU yet”
4:15 PM  •
Associated Press:  Brazil blocks X, following an order from Supreme Court Justice Alexandre de Moraes after Elon Musk refused to name a legal representative in the country
3:45 PM  •
Lorenzo Franceschi-Bicchierai / TechCrunch:  Microsoft says a North Korean hacking group earlier in August exploited a now-patched zero-day in a Chromium core engine to steal crypto from organizations
3:00 PM  •
Financial Times:  Telegram's 2023 financials: $342.5M revenue, 40% of which came from crypto-related line items, and $108M operating loss; it had holdings of ~$400M in Toncoin
2:35 PM  •
Financial Times:  Sources: OpenAI is in discussions about changing its corporate structure to become more investor-friendly, including removing a cap on profits for investors
2:15 PM  •
Kyle Wiggers / TechCrunch:  LAION, a research org whose dataset was used to train Stable Diffusion and other models, releases a new dataset it claims has been “thoroughly cleaned” of CSAM
1:45 PM  •
Bill Toulas / BleepingComputer:  The City of Columbus, OH, sues security researcher David Leroy Ross, aka Connor Goodwolf, accusing him of sharing data stolen by a ransomware gang with media
1:15 PM  •
Aisha Malik / TechCrunch:  Google says Search AI Overviews, Gemini image generation, and other AI products will not respond to election-related topics ahead of the US elections
11:35 AM  •
New York Times:  Sources: the cryptology part of France's charges against Pavel Durov raises concerns at US tech companies with E2EE messaging apps, like Signal, Apple, and Meta
10:45 AM  •
Manish Singh / TechCrunch:  Investor note: 360 One valued Bengaluru-based VerSe, which runs popular news aggregator Dailyhunt, at $2.9B in June 2024, down from its ~$5B valuation in 2022
9:50 AM  •
J.D. Capelouto / Semafor:  Once hesitant to openly comment on politics, German tech leaders voice their opposition to the far right AfD party before September 1's elections in two states
8:15 AM  •
Ryan Smith / AnandTech:  AnandTech shuts down after covering PC and mobile hardware for over 27 years; publisher Future plans to keep AnandTech's website and articles live indefinitely
7:50 AM  •
Chainalysis:  Huione Guarantee, a Cambodia-based online marketplace that facilitates pig butchering and other scams, has processed $49B+ in crypto transactions since 2021
6:30 AM  •
Rachel Graf / Bloomberg:  A federal judge dismisses a lawsuit claiming Elon Musk and Tesla pumped up Dogecoin into a “pyramid scheme”, finding that Musk's statements were “aspirational”
6:25 AM  •
CoinDesk:  As Russia plans a trial of cross-border payments using crypto, some senior Russian leaders suggest it can help counter sanctions; experts doubt it will work
6:00 AM  •
Greg Bensinger / Reuters:  Sources: Amazon's revamped “Remarkable” Alexa, due for release in October 2024, will be powered primarily by Anthropic's Claude, and cost $5 to $10 per month
5:35 AM  •
Bloomberg:  China's top antitrust regulator says it has seen “effective results” that Alibaba has ceased the monopolistic practices that prompted an investigation in 2020
4:10 AM  •
Saritha Rai / Bloomberg:  A look at Google's HeAR, a bioacoustics health care AI model trained on 300M sounds, including 100M coughs, to analyze patients' coughs and detect tuberculosis
12:15 AM  •
Takashi Mochizuki / Bloomberg:  Sources: Tencent and NetEase reconsider or scale back Japanese game studio investments, after yielding few hit games and the Chinese market staged a comeback

August 29, 2024

11:50 PM  •
Bloomberg:  Sources: Intel explores options including splitting its product design and foundry units and potentially scrapping some factory projects; INTC closes up 9.5%
11:30 PM  •
Asa Fitch / Wall Street Journal:  Analysts and industry execs say Nvidia's Blackwell engineering challenges stem from combining two new processors and several memory components in a single chip
11:00 PM  •
Reuters:  Indian quick grocery delivery startup Zepto raises $340M at a $5B valuation, up from $3.6B in June 2024, in a round led by General Catalyst
10:15 PM  •
Carl Franzen / VentureBeat:  Alibaba releases Qwen2-VL, a new AI model that it says can analyze videos longer than 20 minutes to summarize and answer questions about the videos' contents
9:15 PM  •
Maxwell Zeff / TechCrunch:  Google rolls out Gmail Q&A, a feature that allows users who pay for Gemini to chat with the AI assistant about their emails, on Android and “coming soon to iOS”
8:50 PM  •
Jonathan Stempel / Reuters:  A US district judge dismisses, with prejudice, a lawsuit accusing Elon Musk and Tesla of defrauding investors by hyping Dogecoin and conducting insider trading
8:25 PM  •
Leo Schwartz / Fortune:  Bridge, which aims to build a global payment network around stablecoins, raised $40M led by Sequoia and Ribbit, taking its total funding to $58M
7:50 PM  •
Jordan Novet / CNBC:  MongoDB reports Q2 revenue up 13% YoY to $478.1M, vs. $464.1M est., and forecasts Q3 and FY 2025 revenue above estimates; MDB jumps 13%+ after hours
6:55 PM  •
Jay Peters / The Verge:  Meta is opening up Horizon Worlds to users aged 10 to 12 with parental approval, and rolls out a new age rating system for worlds to help parents supervise kids
5:30 PM  •
Daniel Carvalho / Bloomberg:  On August 18, a Brazilian Supreme Court justice blocked SpaceX's bank accounts and threatened to block X in Brazil, in a bid to force Elon Musk to pay X's fines
4:25 PM  •
Kif Leswing / CNBC:  Dell Q2: revenue up 9% YoY to $25.06B, vs. $24.53B est., servers and networking revenue up 80% to $7.76B, net income up 85% to $841M; DELL rose 3%+ after hours
4:10 PM  •
MacKenzie Sigalos / CNBC:  Affirm closed up ~32% on Thursday, its best day in almost three years and its third-biggest rally since Affirm's January 2021 IPO, after beating estimates in Q4
3:30 PM  •
Bloomberg:  Sources: Nvidia, Apple, and Microsoft, the three most valuable tech companies, are in talks to participate in a funding round that would value OpenAI at $100B+
2:50 PM  •
New York Times:  Michael Lacey, co-founder of the classified ad site Backpage, gets five years in prison and a $3M fine for money laundering; two other executives get 10 years
1:53 PM  •
Wall Street Journal:  Sources: Apple is in talks to invest in OpenAI as part of a new fundraising round that would value the ChatGPT maker above $100B
1:50 PM  •
Kyle Wiggers / TechCrunch:  Magic, which makes AI tools for coding and to automate software development tasks, raised $320M from Eric Schmidt and others, bringing its total raised to $465M
1:47 PM  •
Ina Fried / Axios:  OpenAI says ChatGPT weekly active users doubled since last year to 200M+, 92% of Fortune 500 companies use its tools, and automated API usage doubled since July
1:05 PM  •
Rebecca Bellan / TechCrunch:  Sources: truck sharing platform Fluid Truck, which raised $80M+, has ousted its sibling co-founders, including CEO James Eberhard, after losing tens of millions
12:15 PM  •
Kyle Wiggers / TechCrunch:  Codeium, which offers enterprise AI coding tools, raised a $150M Series C at a $1.25B post-money valuation, and reports 700K+ users and 1K+ enterprise clients
10:45 AM  •
Katie Paul / Reuters:  Meta says its Llama models were downloaded almost 350M times, are used by AT&T and others, and usage via cloud providers more than doubled from May to July 2024
9:30 AM  •
Katie Kilkenny / The Hollywood Reporter:  Anti-piracy group ACE says it worked with Hanoi police to shutter Hanoi-based Fmovies and its affiliates, “the largest pirate streaming operation in the world”
9:10 AM  •
Zack Whittaker / TechCrunch:  Google says Russia-linked APT29 is using exploits that are “identical or strikingly similar” to those previously made by spyware makers Intellexa and NSO Group
8:30 AM  •
Alex Isenstadt / Politico:  In his upcoming book, Trump says Mark Zuckerberg plotted against him during the 2020 election and he'd “spend the rest of his life in prison” if he did it again
8:10 AM  •
Matt Burgess / Wired:  Analysis: 16 of the biggest so-called undress and “nudify” websites have used sign-in infrastructure from Google, Apple, Discord, X, Patreon, or Line for months
7:55 AM  •
Reuters:  French media: Telegram CEO Pavel Durov's lawyer says it is “absurd to say that a platform or its boss are responsible for any abuse” carried out on the platform
7:30 AM  •
Bloomberg:  Sources: the Netherlands government will likely not renew some ASML licenses to service and provide spare parts in China when they expire at the end of 2024
7:20 AM  •
Kate Knibbs / Wired:  Facebook, Instagram, Craigslist, Tumblr, the NYT, the FT, The Atlantic, Vox Media, USA Today, Condé Nast, and more block Apple's Applebot-Extended AI crawler
7:10 AM  •
Li Yuan / New York Times:  Interviews with 14 Chinese VCs and entrepreneurs show many are setting up Silicon Valley firms only to find that any investment with Chinese ties is a hard sell
6:50 AM  •
Reuters:  Chinese state media: a Chinese official says the government has invested $6.12B+ in a nationwide project to build computing data centers over the past few years
6:35 AM  •
Justine Calma / The Verge:  Meta's 2024 Sustainability Report shows its market-based emissions are nearly half of its location-based emissions, highlighting the issue of tracking emissions
6:15 AM  •
Shirin Ghaffary / Bloomberg:  The US says OpenAI and Anthropic agreed to give the US AI Safety Institute early access to major new AI models to test and evaluate their capabilities and risks
6:00 AM  •
Financial Times:  Sources: the EU is investigating if Telegram gave inaccurate user numbers to stay under the DSA's 45M threshold; Telegram reported 41M EU users in February 2024
5:40 AM  •
Sarah Perez / TechCrunch:  Automattic plans to shift Tumblr's backend to WordPress in a bid to make sharing work across the platforms easier, after acquiring Tumblr for $3M in August 2019
5:25 AM  •
Bloomberg:  Huawei reports Q2 revenue up 33.7% YoY to ~$33.6B, rising for the sixth straight quarter, and net profit down 18.6% YoY to ~$5B, ahead of the Mate 70's launch
4:50 AM  •
Tianyu Fang / Rest of World:  As Chinese EV manufacturers consolidate and close, EV owners say they're losing access to smartphone app updates and driving features reliant on cloud services
4:25 AM  •
Samuel Aune / Sensor Tower:  A look at Coin Master, a coin looter game that passed $6B in gross revenue, scaling from $0 in global monthly customer spend in 2015 to $113M in May 2020
4:00 AM  •
Ross Andersen / The Atlantic:  A look at the AI-safety community's loss of prominence and lessons learned, such as not to trust AI companies' promises to cooperate with regulators
2:25 AM  •
Bloomberg:  Russians, from Kremlin officials to Putin's harshest critics, see Telegram as the best source of uncensored info, including on Ukraine, and problematic content
1:05 AM  •
Eric Slivka / MacRumors:  Kuo: in the 2025 iPhone lineup, only the iPhone 17 Pro Max will have 12GB of DRAM, instead of 8GB, and a cooling system with vapor chambers and graphite sheets

August 28, 2024

10:55 PM  •
Ben Weiss / The Verge:  Documents and sources detail OpenSea's chaotic work environment, ever-shifting priorities, and tax probes across the globe, as the US SEC and FTC make inquiries
9:55 PM  •
Jason Schreier / Bloomberg:  Sources: Bungie fired top executive Chris Barrett in March 2024 after female employees accused him of inappropriate behavior; Barrett joined Bungie in 1999
8:35 PM  •
Bloomberg:  Jensen Huang says Nvidia's new Blackwell chips will have “lots and lots of supply”, and the company expects them to generate billions of dollars in Q4 revenue
8:20 PM  •
Financial Times:  Nvidia's shares open down ~4%, after the company failed to beat the highest analyst expectations and reported a gross margin of 75.1%, below 75.5% est.
7:30 PM  •
Anna Tong / Reuters:  California's State Assembly passes AI safety bill SB 1047, which now requires a Senate process vote and then Governor Newsom's signature before September 30
6:45 PM  •
Nico Grant / New York Times:  Yelp sues Google, alleging Google abused its dominance in general search to gain an unfair advantage in the local search and local search advertising markets
6:30 PM  •
Sarah Perez / TechCrunch:  Threads now lets users see and like fediverse replies on other posts besides their own, and will syndicate posts submitted via the Threads API to the fediverse
5:50 PM  •
Ciara Linnane / MarketWatch:  Affirm reports Q4 revenue up 48% YoY to $659.2M, vs. $604M est., and says it expects to generate an operating profit by Q4 2025; AFRM jumps 14%+
5:10 PM  •
Jaspreet Singh / Reuters:  CrowdStrike reports Q2 revenue up 32% YoY to $963.9M, vs. $958.6M est., and cuts its FY 2025 revenue and profit forecasts, after July's Windows outage
4:55 PM  •
Brody Ford / Bloomberg:  HP reports Q3 revenue up 2.4% YoY to $13.5B, vs. $13.4B est., Printing revenue down 3% to $4.14B, and increases its share repurchase authorization to $10B
4:34 PM  •
Kif Leswing / CNBC:  Nvidia reports Q2 revenue up 122% YoY to $30B, above $28.7B est., forecasts Q3 revenue above est., and approves an additional $50B in share buybacks
4:30 PM  •
Larry Dignan / Constellation Research:  Salesforce reports Q2 revenue up 8% YoY to $9.33B, vs. $9.23B est., net income of $1.43B, up from to $1.27B in Q2 2023, and says CFO Amy Weaver will step down
4:05 PM  •
Gaspard Sebag / Bloomberg:  France charges Pavel Durov for complicity in the spread of CSAM and other crimes on Telegram; Durov posted a €5M bail and prosecutors banned him from traveling
3:44 PM  •
Wall Street Journal:  Sources: OpenAI is in talks to raise funding at a $100B+ valuation; Thrive Capital is leading the round, set to invest ~$1B, and Microsoft is expected to invest
3:10 PM  •
Nate Raymond / Reuters:  A US court rules TikTok must face a lawsuit over a 10-year-old's death and the “blackout challenge”, saying algorithmic curation isn't protected by Section 230
2:30 PM  •
Sylvia Varnham O'Regan / The Information:  Sources: Meta plans to release a new MR device codenamed Puffin in 2027, resembling a bulky pair of glasses with a second unit for battery and computing power
2:00 PM  •
David Pierce / The Verge:  ESPN launches a Where to Watch feature on its website and app, which aims to be a universal guide for streaming sports with data from 250+ streaming services
1:20 PM  •
Associated Press:  French prosecutors say Telegram CEO Pavel Durov will be brought to court for a first appearance and a possible indictment and that his police custody has ended
1:00 PM  •
Abner Li / 9to5Google:  Google rolls out Imagen 3 to all Gemini users and Gems, which allows the creation of custom Gemini chatbots, to Gemini Advanced, Business, and Enterprise users
12:30 PM  •
Julia Love / Bloomberg:  Google plans to roll out image generation of people to Gemini paid users soon, after suspending the feature in February 2024 over criticism of racial depictions
11:20 AM  •
Lora Kolodny / CNBC:  Environmental and health advocates accuse xAI of adding to pollution in Memphis, Tennessee, by using unauthorized gas burning turbines at its new data center
10:43 AM  •
Katherine Ross / Blockworks:  OpenSea says the US SEC sent it a Wells notice calling NFTs sold on the platform securities; CEO Devin Finzer says the company is “ready to stand up and fight”
10:40 AM  •
Brody Ford / Bloomberg:  Super Micro delays filing its annual financial disclosures, a day after short-seller Hindenburg Research alleged “glaring accounting red flags”; SMCI drops 25%+
10:25 AM  •
Shopify:  Shopify hires Mikhail Parakhin as its CTO; Parakhin had been Microsoft's CEO of Advertising and Web Services since September 2022
9:40 AM  •
Eyk Henning / Bloomberg:  Sources: Zurich-based Swiss-Mile, which makes the autonomous Robotic Mule and Robotic Watchdog robots, is close to raising a ~$20M seed at a $100M+ valuation
9:30 AM  •
David Pierce / The Verge:  Plaud unveils NotePin, a $169 AI wearable that transcribes, summarizes, and gets action items from daily interactions; extra AI features require a $79/year plan
9:15 AM  •
CNN:  Investigation: a hacking group linked to Iran's Islamic Revolutionary Guard Corps has targeted former Trump and Biden administration members since at least 2022
7:55 AM  •
April Rubin / Axios:  Snap launches new safety tools and resources for US educators, and says Snapchat has 20M+ US teen users; Pew says 51% of US teens used Snapchat daily in 2023
7:35 AM  •
Politico:  French administrative document: alongside Pavel Durov, French authorities issued an arrest warrant for his Telegram co-founder and brother Nikolai in March 2024
7:25 AM  •
Andy Greenberg / Wired:  Q&A with Signal President Meredith Whittaker on the app's 10th anniversary, its EU focus, being a nonprofit, Pavel Durov's arrest, X, the US election, and more
7:05 AM  •
Ivan Mehta / TechCrunch:  Web browser startup Brave lays off 27 employees, after cutting 9% of its workforce in October 2023; PitchBook estimates that Brave has ~191 employees
6:10 AM  •
Financial Times:  How Telegram CEO Pavel Durov miscalculated on moderation, saying earlier in 2024 that he did not expect “significant challenges” despite new laws targeting tech
5:50 AM  •
Claire Che / Bloomberg:  Chinese meal delivery giant Meituan reports Q2 revenue up 21% YoY to ~$11.6B, above $11.3B est., as its core business expanded; its stock is up ~25% in 2024
4:30 AM  •
New York Times:  Experts say Pavel Durov's arrest is likely an outlier, as the legal bar is high in the US and Europe to prosecute tech executives for content on their platforms
2:30 AM  •
The Guardian:  Some 100 Venezuelan journalists are using two AI avatars to host daily newscasts and avoid putting themselves at risk, amid President Maduro's media crackdown
12:20 AM  •
Wall Street Journal:  Sources: Emmanuel Macron invited Pavel Durov to move Telegram to Paris in 2018; in 2017, a joint operation between French and UAE spies hacked Durov's iPhone

August 27, 2024

11:23 PM  •
Mark Gurman / Bloomberg:  Sources: Apple lays off ~100 people in its services group, impacting Apple Books, News, and other teams, a rare move as part of a shift in the unit's priorities
9:45 PM  •
Kevin Collier / NBC News:  US-based child safety group NCMEC, Canada-based CCCP, and UK-based IWF say their outreach to Telegram to flag CSAM on the platform has largely been ignored
9:15 PM  •
Tage Kene-Okafor / TechCrunch:  Kenya-based Wasoko and Egypt-based MaxAB, two of Africa's largest B2B e-commerce platforms, merge in an all-stock deal; the companies raised over $240M combined
8:30 PM  •
Saritha Rai / Bloomberg:  How call centers in the Philippines' vast outsourcing industry are adopting AI tools to assist human operators, in an effort to stay competitive
6:55 PM  •
Krisztian Sandor / CoinDesk:  MakerDAO rebrands as Sky and debuts a new USDS stablecoin, but users criticize USDS after noticing that the token lets the issuer remotely freeze the asset
6:20 PM  •
Kali Hays / Fortune:  Source: in 2023, Meta abandoned plans to build its own custom chips for its AR glasses, instead opting to rely on third-party chipmakers like Qualcomm
6:05 PM  •
Peter Kafka / Business Insider:  Mark Zuckerberg's letter to Jim Jordan gave the GOP just enough to claim a political win, without getting Meta into more trouble amid its FTC antitrust lawsuit
5:05 PM  •
Joanna Nelius / The Verge:  Google rolls out a Google Meet AI feature that automatically takes notes during meetings conducted in spoken English, available to select Workspace customers
4:25 PM  •
Jonathan Stempel / Reuters:  Self-driving truck company TuSimple, which delisted from Nasdaq in January, reaches a $189M settlement of a suit alleging fraud by overstating safety and more
2:35 PM  •
Rachel Kaser / VentureBeat:  Web3 esports startup Gameplay Galaxy, focused on developing upcoming game Trial Xtreme Freedom, raised a $24M seed co-led by Blockchain Capital and Merit Circle
1:50 PM  •
Taylor Soper / GeekWire:  Seattle-based startup Supio, which uses AI to help lawyers analyze documents, raised a $25M Series A led by Sapphire Ventures
1:30 PM  •
Bloomberg:  Former staff of video game payments company Xsolla say in lawsuits that CEO Aleksandr Agapitov leans heavily on company revenue for his new, flashier lifestyle

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