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President Trump’s attempt to overhaul the Affordable Care Act has been derailed after two Republican senators bailed out. Now Trump and Mitch McConnell say they will try to simply repeal Obamacare and figure out how to replace it later; conventional wisdom says that plan won’t work. [The New York Times]
“Asshole culture is promoted at Uber,” says one recently departed Uber employee in a grimly fascinating examination of Uber’s combative, all-consuming corporate ethos, which led to a massive corporate meltdown and the resignation of CEO Travis Kalanick. “It’s a money cult,” says another ex-employee, speaking on condition of anonymity. “People are putting up with massive amounts of abuse.” [BuzzFeed]
Netflix added more than five million new subscribers last quarter, and Wall Street is happy. Netflix stock jumped 8 percent on the impressive growth numbers and news that Reed Hastings’s international operations will turn a profit this year, ahead of schedule. Meanwhile, mobile video ad spending is expected to grow 49 percent to nearly $18 billion next year, while fixed online video ad spending is expected to decline 1.5 percent to $15 billion. [Kurt Wagner and Rani Molla / Recode]
Snap employees will soon be able to sell their stock — the 150-day lock-up period ends on July 29, and the first day of potential trading is Monday, July 31. Some employees will have to wait until mid-August to sell. Regardless of timing, the event could sink Snap stock lower and lead to an exodus of longtime employees. [Kurt Wagner / Recode]
Watch Kara Swisher in conversation with Megyn Kelly about the “bro culture” that is rampant in the tech industry. In an NBC News series about what it’s like to be a woman in Silicon Valley, Kelly also spoke to six female entrepreneurs who have alleged harassment from male investors.
Top stories from Recode
Millennials have a Netflix account. Gen Z is playing video games.
But everyone has a smartphone.
Tesla has added James Murdoch and Linda Johnson Rice to its board of directors.
Murdoch and Rice will serve as independent board directors.
AT&T, Comcast and others sketch their support for lenient — or voluntary — net neutrality rules.
Tech and telecom go to war as the FCC closes its comment window on a proposed net neutrality repeal.
This cool
Yesterday was World Emoji Day, and to celebrate, Apple shared a preview of 12 of its newest emojis, including a woman with a headscarf, a vomiting face, male and female zombies, a zebra and a sandwich. The full set will be released later this year with updates for various Apple operating systems. [Maya Salam / The New York Times]
This article originally appeared on Recode.net.
