Japan’s SoftBank plans to invest up to $10 billion in Uber, which would be the largest-ever purchase of existing stock in a Silicon Valley startup. But there’s no guarantee that the deal will get done, given how complex and massive the transaction is proving to be. Recode explains how a “tender offer” deal typically unfolds — and how the whole shebang could fall apart. [Theodore Schleifer / Recode]
Recode Daily: SoftBank circles a $10 billion Uber deal
Plus, Russia-backed hackers stole highly classified data from an NSA contractor’s home computer, Netflix raises prices, and an ode to America’s favorite chain restaurant.
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Hackers working for the Russian government stole highly classified data on U.S. cyber defense capabilities from a National Security Administration contractor’s home computer in 2015. The breach, considered the most serious in years, could enable Russia to evade NSA surveillance and more easily infiltrate U.S. networks. And White House officials believe that chief of staff John Kelly’s personal cellphone was compromised, possibly as long ago as December. [The Wall Street Journal]
Here’s a step-by-step rundown of how Facebook, Google and Twitter found themselves in the middle of an investigation into Russian interference in the 2016 presidential election. The tech giants are now under fire by U.S. lawmakers for failing to stop — or even realize — the ways their services had been used by Kremlin-backed agents to spread misinformation. Now they’re scrambling to update their policies to ensure that foreign governments can’t weaponize the web again. [Tony Romm and Kurt Wagner / Recode]
Netflix raised its prices for many of its nearly 52 million U.S. streaming-video subscribers. The company’s $9.99-a-month two-device plan gets bumped up to $10.99; the four-device $11.99 plan is now $13.99. “Great idea!” said Wall Street, which nudged Netflix stock up by 4 percent on Tuesday’s announcement. Nearly four million people in the U.S. still subscribe to Netflix’s original $7.99 DVD-by-mail service. [Peter Kafka / Recode]
The gun accessories called bump stocks are selling out at sporting goods retailers across the U.S., as consumer fears of a ban on the devices loom after the Las Vegas mass shooting. The GOP and even the NRA are talking about additional federal regulations on the devices, which allow semiautomatic guns to act more like rapid-fire automatic weapons. [Jamiles Lartey / The Guardian]
Miramax executive Harvey Weinstein said he was taking a leave of absence after the New York Times reported “decades of sexual harassment accusations” against the movie producer. Weinstein’s alleged behavior had been discussed in industry circles for years, but previous reports didn’t address the charges directly. One of Weinstein’s lawyers is now threatening to sue the Times. [The New York Times]
Top stories from Recode
The streaming company is preparing to go public soon.
The company is looking to expand its business — both globally and with new partnerships.
The button is similar to how Google scrapes results that show up within Google. Meaning in this case, it keeps you glued to Facebook.
Security researcher Brian Krebs joins us on the latest episode of Too Embarrassed to Ask to explain what happened — and what happens next.
This is cool
This article originally appeared on Recode.net.
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