Jessica Bursztynsky
Jessica Bursztynsky
Jessica Bursztynsky is an associate reporter for CNBC.com covering breaking tech news. She started working for CNBC in January 2019 as a breaking news intern. She graduated from the University of Illinois at Urbana-Champaign with a BA in Journalism.Source
Manhattan, NY
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Dropbox to cut 11% of its global workforce

Dropbox to cut 11% of its global workforce

Business News and FinanceVIEW IN APPA Facebook iconA Twitter iconA LinkedIn iconAn email iconKEY POINTS is cutting its global workforce by about 11%, the company said in an released Wednesday. The company's stock was down more than 4.5% in late-morning trading.The move will affect 315 people, who will be notified by the end of the business day."The steps we're taking today are painful, but necessary," Dropbox CEO Drew Houston said in an employee memo Wednesday. Dropbox committed to preserve job security through 2020, but Houston said that looking ahead to this year "it's clear that we need...

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Jessica Bursztynsky
5d ago
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Visa abandons takeover of Plaid after DOJ raises antitrust concerns

Visa abandons takeover of Plaid after DOJ raises antitrust concerns

Key Points has ended its takeover efforts of Silicon Valley start-up Plaid about two months after the Department of Justice filed an  on grounds that it would limit competition in the payments industry.The company said the decision to end the merger was mutual.About a year ago, on Jan. 13, 2020, Visa announced that it planned on acquiring Plaid in a deal worth — roughly double the start-up's last private valuation. The company's API software, often referred to as the "plumbing" behind fintech companies, lets start-ups connect to users' bank accounts. The company says it integrates with more...

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Jessica Bursztynsky
5d ago
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Oracle is moving its headquarters from Silicon Valley to Austin, Texas

Oracle is moving its headquarters from Silicon Valley to Austin, Texas

Key Points is the latest tech company to move its headquarters out of California. The company said on Friday it's moving its headquarters from the Silicon Valley to Austin, Texas."Oracle is implementing a more flexible employee work location policy and has changed its Corporate Headquarters from Redwood City, California to Austin, Texas. We believe these moves best position Oracle for growth and provide our personnel with more flexibility about where and how they work," a spokesperson confirmed to CNBC.Bloomberg the move.A bulk of employees can choose their office location, or continue to...

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Jessica Bursztynsky
Dec 11
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More than a month after the election, YouTube decides to crack down on misinformation on results

More than a month after the election, YouTube decides to crack down on misinformation on results

Key Points-owned YouTube said Wednesday that it will begin removing content that falsely alleges widespread fraud or errors surrounding the 2020 presidential election, more than a month after the polls closed and Joe Biden was declared the projected winner.YouTube has been the subject of intense criticism following the election, as it allowed videos that falsely claim the election was a fraud and other related issues to propagate across the platform. The company said it's making the decision now because of the safe harbor deadline for the election and the fact that several states have...

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Jessica Bursztynsky
Dec 9
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Uber CEO: We're not giving up on self-driving after selling off the business

Uber CEO: We're not giving up on self-driving after selling off the business

Key PointsFull interview with Uber CEO and Aurora CEO on sale of self-driving unit announced Monday it was , Advanced Technologies Group, to Aurora Innovation, but CEO Dara Khosrowshahi said he doesn't believe the company is giving up its self-driving play."What's crucial is for us to have access to the very best and leading autonomous technology out there," Khosrowshahi said on CNBC's "." "What we want to make sure is as that technology is developed, it's developed for Uber network and is available for the Uber network at scale."Uber's co-founder and former CEO Travis Kalanick had viewed...

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Jessica Bursztynsky
Dec 8
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Uber sells its self-driving unit to Aurora

Uber sells its self-driving unit to Aurora

Key PointsUber selling self-driving unit to Silicon Valley start-up Aurora's self-driving unit, Advanced Technologies Group (ATG), is being acquired by its start-up competitor Aurora Innovation, the companies announced Monday.The deal, expected to close in the first quarter of 2021, values ATG at approximately $4 billion. The unit was valued at in Apr. 2019 when , and took a stake.Uber CEO Dara Khosrowshahi will join the company's board, and the ride-sharing giant will invest $400 million into the company.Overall, Uber and ATG investors and employees are expected to own a 40% stake in...

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Jessica Bursztynsky
Dec 7
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Hewlett Packard Enterprise is the latest tech company to leave Silicon Valley, and is moving to Houston

Hewlett Packard Enterprise is the latest tech company to leave Silicon Valley, and is moving to Houston

Key Points is the latest tech company to shift its focus away from Silicon Valley, announcing Tuesday that it will relocate its headquarters from San Jose, California, to Houston, Texas."HPE's largest U.S. employment hub, Houston is an attractive market to recruit and retain future diverse talent, and is where the company is currently constructing a state-of-the-art new campus," the company said in its fourth quarter earnings release. It's unclear how many employees the move will affect, though the company said no layoffs will be with the move.HPE will keep the San Jose campus, and will...

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Jessica Bursztynsky
Dec 1
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Salesforce is in talks to buy Slack, deal could be announced next week

Salesforce is in talks to buy Slack, deal could be announced next week

Key PointsSalesforce acquiring Slack would be a 'no brainer,' 'home-run': Josh Brown is in talks to acquire , and a deal could be announced as soon as next week, according to a person familiar with the matter.Shares of Slack closed almost 38% higher Wednesday after the that Salesforce held talks to buy the company. Salesforce, whose stock closed down 5% on Wednesday, is scheduled to release its fiscal third-quarter earnings next week.It's unclear how much the deal would be worth, but Slack's market cap ballooned to more than $20 billion following the WSJ's original report.Salesforce has...

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Jessica Bursztynsky
Nov 25
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Reddit won't lower employee pay if they move out of high-cost cities like San Francisco

Reddit won't lower employee pay if they move out of high-cost cities like San Francisco

Key PointsReddit said Tuesday it won't lower pay for employees who choose to move out of high-cost cities following the coronavirus pandemic. That means employees will be compensated as if they live in places like San Francisco, where Reddit is headquartered, even if they move to a much cheaper locale."To support employees to live where they want to and do their best work, we are eliminating geographic compensation zones in the US," the company . "We believe this is the right balance of flexibility and support for employees, recognizing the varied tradeoffs people consider when deciding...

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Jessica Bursztynsky
Oct 27
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Dropbox is the latest San Francisco tech company to make remote work permanent

Dropbox is the latest San Francisco tech company to make remote work permanent

Key PointsSan Francisco-based announced Tuesday that it will employees to come into its offices and instead make remote work the standard practice, even after the coronavirus pandemic ends."Remote work (outside an office) will be the primary experience for all employees and the day-to-day default for individual work," the company said in a .For employees who need to meet or work together in person, the company is setting up "Dropbox Studios" in San Francisco, Seattle, Austin and Dublin when it's safe to do so. The company extended its mandatory work-from-home policy through June 2021."We'll...

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Jessica Bursztynsky
Oct 13
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Roblox confidentially files to go public

Roblox confidentially files to go public

Key PointsGaming company Roblox it confidentially filed with the Securities and Exchange Commission to go public.The company didn't disclose its financial information and how many shares would be offered. Roblox most recently was privately valued at $4 billion in late February, after venture capital firm Andreessen Horowitz led a .Reuters, which the company's plans to go public, said Roblox expects that a listing could double its valuation. A Roblox spokesperson declined to comment.Founded in 2004, Roblox offers users free-to-play games across mobile devices and consoles. Gamers can...

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Jessica Bursztynsky
Oct 12
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IBM shares rise on plans to spin off its IT infrastructure unit and focus on the cloud business

IBM shares rise on plans to spin off its IT infrastructure unit and focus on the cloud business

Key PointsIBM to spin off one of its units into separate public company said Thursday it would into a new publicly traded company to focus its legacy business more on cloud computing, a high-margin segment that has seen a boost as companies increasingly ramp up their digital shift.Shares of the company were up more than 5% in early afternoon trading.Specifically, IBM will spin out the Managed Infrastructure Services unit of its Global Technology Services business into a new company, temporarily called NewCo, by the end of 2021. IBM said it will manage and modernize client-owned...

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Jessica Bursztynsky
Oct 8
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Facebook rebuts 'The Social Dilemma,' a popular Netflix documentary

Facebook rebuts 'The Social Dilemma,' a popular Netflix documentary

Key Points on Friday offered a rebuttal to the hit Netflix documentary-drama, "The Social Dilemma."The movie revealed, perhaps for the first time to some viewers, how social networks use algorithms to keep people coming back. It also addressed how tech companies have influenced elections, ethnic violence and rates of depression and suicide. Some viewers said they were deleting.The rebuttal suggests that Facebook may be worried about the documentary's effects on usage. "The Social Dilemma" appeared in Netflix's top 10 most popular movies and TV shows list in September and is still listed in...

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Todd Haselton
Oct 2
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San Francisco rents plunge, showing strain from pandemic and wildfires

San Francisco rents plunge, showing strain from pandemic and wildfires

Key PointsRent prices continued to plunge across the U.S. last month, with San Francisco leading the decline, according to , a real-estate start-up. The median rent for a one-bedroom apartment in San Francisco dropped more than 20% from a year ago, to $2,830, according to the report. That's the largest decline the company has recorded. Month-to-month, the price of a median one-bedroom in the city dropped nearly 7%, according to Zumper. Zumper CEO Anthemos Georgiades a flood of supply in the market. Some renters may be inclined to move to the suburbs to get more space, as the Covid-19...

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Jessica Bursztynsky
Oct 1
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Former Amazon manager made $1.4 million from insider trading, SEC alleges

Former Amazon manager made $1.4 million from insider trading, SEC alleges

Keep Me Logged InKey PointsThe Securities and Exchange Commission a former finance manager and two family members with insider trading, alleging Monday that they made approximately $1.4 million from unlawful trading. The agency alleges that Laksha Bohra, who worked as a senior manager in Amazon's tax department, had access to confidential information from Amazon ahead of the company's quarterly and annual earnings reports. From January 2016 through July 2018, Bohra allegedly tipped her husband Viky Bohra off on the company's financial performance. Bohra's husband would then trade the stock...

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Jessica Bursztynsky
Sep 28
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YouTube announces TikTok competitor in India, where TikTok is banned

YouTube announces TikTok competitor in India, where TikTok is banned

Keep Me Logged InKey Points on Monday  Shorts, a short-form video feature that's aiming to directly compete with TikTok. YouTube said it will launch an early beta of Shorts in India over the next few days, before expanding to other countries.India is a good place for YouTube to launch Shorts. Chinese-owned TikTok and 58 other apps in June when it said that the apps were "engaged in activities which is prejudicial to sovereignty and integrity of India." Before the ban, roughly 30% of TikTok's 2 billion downloads came from India, . Instagram, which launched its TikTok clone ,  it's already...

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Jessica Bursztynsky
Sep 14
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Snowflake IPO gets vote of confidence as Berkshire, Salesforce agree to buy shares

Snowflake IPO gets vote of confidence as Berkshire, Salesforce agree to buy shares

Keep Me Logged InKey PointsSnowflake received a vote of confidence Tuesday after a that  and  each agreed to purchase $250 million of stock at the IPO price in a concurrent private placement. Berkshire Hathaway agreed to buy an additional 4.04 million shares from one of Snowflake's current stockholders in a secondary transaction. The company said that the midpoint of its pricing range for the IPO is expected to be $80 per share, which would value Berkshire Hathaway's stake at more than $550 million at the time it goes public. At that price, Snowflake would have a market cap of $22.3...

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Jessica Bursztynsky
Sep 8
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Apple becomes first U.S. company to reach a $2 trillion market cap

Apple becomes first U.S. company to reach a $2 trillion market cap

Keep Me Logged InKey PointsApple hits a $2 trillion valuation hit a market cap of $2 trillion Wednesday, doubling in valuation in just over two years to become the first publicly traded U.S. company to reach the milestone.Based on a share count of more than 4.275 billion, Apple broke the barrier just before 11 a.m. ET, when its price rose to $467.77.Apple a $1 trillion market cap on Aug. 2, 2018. Wall Street has largely expected the iPhone maker to become the first to surpass $2 trillion. On July 31, Apple passed the state oil giant  to become the publicly traded company. It didn't take...

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Jessica Bursztynsky
Aug 19
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Airbnb plans to confidentially file for IPO this month

Airbnb plans to confidentially file for IPO this month

Keep Me Logged InKey PointsAirbnb to file confidentially for IPO in August: SourcesAirbnb is planning to submit a confidential filing with the SEC this month to go public, a source familiar with the matter confirmed to CNBC.Shares could begin trading by the end of the year. Airbnb declined to comment. The Wall Street Journal the news of its market debut. The company was expected to go public earlier this year but put those plans on hold due to the Covid-19 pandemic and , or roughly 1,900 employees, to cut costs. At the time, CEO Brian Chesky told employees that its 2020 revenue will be of...

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Jessica Bursztynsky
Aug 11
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Lyft may suspend service in California if court requires it to classify drivers as employees

Lyft may suspend service in California if court requires it to classify drivers as employees

Keep Me Logged InKey Points may suspend services in California if the state does not overturn a recent ruling requiring it to classify its drivers as full-time employees, Lyft co-founder and President John Zimmer said on the company's second-quarter earnings call. Shares of Lyft were as high as 6% after hours, but went negative when Zimmer said Lyft might suspend service in the state. would also likely pause its service in California if the ruling is not overturned, in an MSNBC interview Wednesday. Khosrowshahi said a suspension would likely last until November when voters would decide on...

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Jessica Bursztynsky
Aug 12
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Walmart and Instacart partner for same-day U.S. delivery in fight against Amazon's Whole Foods

Walmart and Instacart partner for same-day U.S. delivery in fight against Amazon's Whole Foods

Keep Me Logged InKey Points is partnering with Instacart to offer same-day delivery starting in a few U.S. markets, making it the latest major grocery chain to team up with Instacart in its fight against and Whole Foods.The partnership is currently in a pilot phase in four markets and Oklahoma.Walmart's partnership comes at a key time. Consumers are relying on grocery delivery demand at an due to the Covid-19 pandemic, and some analysts believe customers will continue to shop online even as things go back to normal. "Today, we welcomed Walmart to the Instacart marketplace for the first time...

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Jessica Bursztynsky
Aug 11
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Facebook releases its second attempt to copy rival TikTok by leveraging Instagram's popularity

Facebook releases its second attempt to copy rival TikTok by leveraging Instagram's popularity

Keep Me Logged InKey PointsInstagram its short-form video feature, Reels, broadly on Wednesday, in an effort to compete with the rapidly-growing TikTok.Instead of operating as a separate app, Reels can be found within the Instagram app itself by selecting "Reels" at the bottom of the Instagram camera. Reels allows users to create 15-second clips, like TikTok, and share them publicly or with friends within the Instagram app.The editing software operates much like TikTok. Users can overlay audio, select augmented reality effects and upload video clips in a similar manner. Reels was launched...

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Jessica Bursztynsky
Aug 5
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Microsoft could buy TikTok for as much as $30 billion

Microsoft could buy TikTok for as much as $30 billion

Keep Me Logged InKey PointsMicrosoft is seeking transfer of TikTok's 15 million lines of code: Faber ReportMicrosoft plans to finish its acquisition talks with TikTok within the next three weeks, ahead of the Sept. 15 deadline,  CNBC's reported Wednesday. The deal could be worth up to $30 billion.If the deal goes through, Microsoft has already agreed with the U.S. government to bring TikTok's code from China to the U.S. within one year. Faber also reported that the two sides haven't landed on a price for TikTok yet, but it could be between $10 billion and $30 billion. Treasury Secretary...

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Jessica Bursztynsky
Aug 5
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Twitter limits Trump Jr.'s access after he shared coronavirus misinformation

Twitter limits Trump Jr.'s access after he shared coronavirus misinformation

Keep Me Logged InKey PointsDonald Trump Jr. has limited access to his account after sharing a video on the social media platform that violated its misinformation rules, the company confirmed Tuesday. A Twitter spokesperson called out the president's son for violating its policy on "spreading misleading and potentially harmful information related to Covid-19."The post in question, a  being used to treat Covid-19, has since been deleted. A Twitter spokesman declined to comment further. Trump Jr. is still able to browse the app, but is unable to tweet, retweet, follow or like posts for a...

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Jessica Bursztynsky
Jul 28
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Chamath Palihapitiya: Tesla's push toward renewable energy could make it worth trillions

Chamath Palihapitiya: Tesla's push toward renewable energy could make it worth trillions

Keep Me Logged InKey PointsTesla's growth is about renewable energy components, not electric cars, says Chamath PalihapitiyaSocial Capital CEO told CNBC on Thursday that 's growth is much more than about electric cars: Its renewable energy components could make Elon Musk's company worth trillions. "It is the leading hedge when it comes to electrification and decarbonization. This is no longer about cars, that's the first wave of growth. I think people are pricing in the evisceration of traditional autos and an enormous shift to [electric vehicles], of which Tesla will get the...

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Jessica Bursztynsky
Jul 23
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