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Trump wants to cut immigration in half over the next decade. Silicon Valley thinks that’s a terrible idea. Propsed legislation would cut way back on the number of people allowed into the U.S. because they have family there, but would prioritize high-skill, high-pay jobs. [Tony Romm / Recode]
Instagram pointed out that people spend more time on its app than Snap, and Snap stock fell again. This is probably not a coincidence. [CNBC]
Tesla is losing more money than ever. Elon Musk’s car company lost a record $336 million last quarter — but beat revenue expectations with $2.79 billion. Musk says 63,000 people have cancelled pre-orders for his new, “mass market” Model 3, a statistic he described as “inconsequential.” [Johana Bhuiyan / Recode]
HBO was hacked, and it could be a big deal. Hackers have already released a few episodes of unaired shows, but HBO may also have lost “thousands” of “internal company documents,” raising the specter of the hack that devastated Sony a few years ago. [Janko Roettgers / Variety]
Uber’s Bozoma Saint John will be onstage at next month’s Code Commerce. When Saint John, a former Apple exec, took the the role of chief brand officer at Uber in early June, she told Recode, “I know what I’m walking into.” At our Code Commerce event on Sept. 13 and 14 in New York City, you’ll have the chance to hear what she has found. And what she plans to do about it. [Jason Del Rey / Recode]
Everyone wants to be on TV — especially the web upstarts that are supposed to be challenging TV. That makes Tonia O’Connor’s job that much more interesting — among other things, Univision’s chief revenue officer is trying to figure out how her digital properties, like the Gawker sites (now Gizmodo Media Group), might migrate to the smallish screen. She explains her job, and the TV business, to Edmund Lee on the newest episode of Recode Media. [Eric Johnson / Recode]
Top Stories from Recode
Tesla is worth more than Ford and GM, despite having just 1 percent of their sales.
It’s electric.
Facebook says changes to how it hires are making the company more diverse.
Facebook is less white and less male than it was a year ago.
Vimeo finally explains why it’s not launching its own version of Netflix.
(Spoiler: It would be very expensive.)
500 Startups surveys the early wreckage of a sexual harassment scandal.
Tuesday was an early test of how VC firms might recover.
Facebook’s latest News Feed change could push more publishers to Instant Articles.
Facebook says it will use load time to determine what to show you. Instant Articles load really fast.
This is Cool
Defend Earth from aliens. Defend the Universe from Earth. Get paid $187,000.
Become a Planetary Protection Officer. It’s a real job. Paid for by U.S. taxpayers. “Frequent travel may be required.” And you’ll need to pass a drug test. [Dave Mosher / Business Insider]
This article originally appeared on Recode.net.
