🤨 Why we trust fraudsters

Plus: How Facebook plans to become more like TikTok, Bill Gates says crypto and NFTs are '100% based on greater fool theory, and more…

Today’s pick

Why we trust fraudsters. From Enron to Wirecard, elaborate scams can remain undetected long after the warning signs appear. What are investors missing? Receive free Financial fraud updates We'll send you a myFT Daily Digest email rounding up the latest Financial fraud news… (Dan McCrum / Financial Times)

Financial Times @FinancialTimes

From Enron to Wirecard, elaborate scams can remain undetected long after the warning signs appear. Dan McCrum @FD asks, what are investors missing?

on.ft.comWhy we trust fraudstersFrom Enron to Wirecard, elaborate scams can remain undetected long after the warning signs appear. What are investors missing?

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How Facebook plans to become more like TikTok. Facebook employees were recently given a new directive with sweeping implications: make the app's feed more like TikTok. Simply bringing Reels, the company's short-form video feature, from Instagram into Facebook wasn't going to cut it. Executives… (Alex Heath / The Verge)

Alex Heath @alexeheath

I got internal docs and interviewed the head of Facebook about how the app is going to become more like TikTok. The feed will increasingly show posts from accounts you don’t follow — a big departure from how it currently works. That and more changes here:

theverge.comHow Facebook plans to become more like TikTokGet ready for more random videos in your feed.

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Bill Gates says crypto and NFTs are '100% based on greater fool theory. Microsoft co-founder Bill Gates said he thinks cryptocurrencies and NFTs are '100% based on greater fool theory.' 'Expensive digital images of monkeys' will 'improve the world immensely,' Gates joked, referring to Bored Ape NFTs. The tech… (Ryan Browne / CNBC)

CNBC @CNBC

Bill Gates says crypto and NFTs are '100% based on greater fool theory'

cnb.cxBill Gates says crypto and NFTs are ’100% based on greater fool theory’The tech billionaire said he’s “not involved” in crypto: “I’m not long or short any of those things.”

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YouTube Says It Is Gaining on TikTok in Short-Video Race. More than 1.5 billion people watch YouTube Shorts every month, Alphabet Inc.'s Google disclosed on Wednesday, indicating the short-video service had reached a comparable scale to rival app TikTok after launching less than two years ago. The figures… (Miles Kruppa / Wall Street Journal)

The Wall Street Journal @WSJ

More than 1.5 billion people watch YouTube Shorts every month, Alphabet’s Google said, indicating the short-video service had reached a comparable scale to rival TikTok on.wsj.com/3NUuNLz

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A Utah tech CEO partied nonstop and pushed antisemitic conspiracy theories. Silicon Slopes stood by and watched. When Dave Bateman stepped onstage during his company's annual sales kickoff in January 2018, his employees expected a rousing speech about the year ahead. Instead, Bateman, the CEO of Entrata, ranted about his recently finalized divorce from his… (Meghan Morris / Business Insider)

Meghan Morris @MeghanEMorris

NEW: Remember the founder who sent out an unhinged, antisemitic email in January? I went to Utah to learn his backstory. It's even wilder than the email – and it's a cautionary tale about bootstrapped companies far beyond Silicon Slopes 🧵 businessinsider.com/dave-bateman-e…

businessinsider.comA Utah tech CEO partied nonstop and pushed antisemitic conspiracy theories. Silicon Slopes stood by and watched.Dave Bateman, co-founder of Entrata, a major Utah real-estate software company, spent years mired in misbehavior and antisemitic conspiracy theories.

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