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- Jeff Bezos is stepping down. He will be replaced as Amazon CEO by AWS CEO Andy Jassy, but take on an executive chair role at the firm.
- Bezos says he will use the extra time to focus on non-Amazon activities. These include his charitable fund, his climate fund, his space firm Blue Origin, and the newspaper he owns, The Washington Post.
- Exclusive: Over a dozen Amazon insiders described Andy Jassy’s leadership style. People who have worked with Jassy, who turned 53 in January, describe him as a genuinely nice person who nevertheless sets high expectations for his people and expects them to rise to the challenge.
- Alphabet beat earnings estimates. The company brought in $46.43 billion in revenue for the quarter, minus traffic acquisition costs.
- Exclusive: Some Google employees are considering jumping ship after recent drama. Some on its ethical AI team have privately remarked about making moves to other companies including Microsoft and Facebook, according to two current employees familiar with those discussions.
- Amazon settled charges that it stole tips. The company will pay nearly $62 million to settle federal charges that it withheld tips from delivery drivers.
- Uber bought Drizly for $1.1 billion. Drizly has been called the “Uber for alcohol delivery” and marks another step for Uber into delivery apps.
- Google will pay $2.6 million over discrimination claims. The firm will pay the cash to settle racial and gender-bias claims, the US Department of Labor said Monday.
- Google abandoned gaming platform Stadia. Google’s Stadia Games & Entertainment division, headed up by the game-industry veteran Jade Raymond, is shuttering and Raymond will leave the company.
- Prime: Inside the ‘buy now, pay later’ explosion. A boom in services that let online shoppers spread the cost of items over months or weeks has raised concerns young people are falling into debt.