Welcome to the Tech Mem Right Home for Friday, July 22, I'm Brian McCullough today.

Well, things weren't so rosy with Twitter's earnings, and they were downright abysmal over

at Snap.

The feds bring the first ever case for insider trading in the crypto space.

Your next smartlock might draw its power from your phone as you use it, and of course the weekend

long read suggestions.

Here's what you miss today in the world of tech.

Not great, Bob.

Twitter this morning announced that they missed Wall Street

revenue expectations by 11%. Also they had a net loss of $270 million, which was down from a $66 million net income recorded last year.

Monetizable daily active users were up 16.6% year over year, but there's also, shall we say,

headwinds to face quoting CMBC. The company partially blamed the revenue drop

on ad industry headwinds tied to the broader challenging

macroeconomic environment as well as quote uncertainty related to the

pending acquisition of Twitter by an affiliate of Elon Musk, and quote.

Given the pending acquisition by Musk,

Twitter said it will not provide forward-looking guidance

for the third quarter.

It's also not hosting a conference call

with analysts to discuss the earnings results.

Twitter said costs related to the acquisition were approximately $33 million in Q2 alone, end quote.

As David Lurie tweeted, quote, Elon Musk is a material adverse event, end quote.

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