Welcome to the Tech Mem Right Home for Tuesday, February 8th, 2022. I'm Brian McCullough

today. It's a day of retrenchment.

Invidia and Arm are off. Peter Teal is off the meta board. Peloton loses its CEO

ahead of what is likely to be disastrous earnings. The IRS backs down from that

whole facial recognition thing and Tinder stops charging you more if you're

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

It's a day of follow-up stories like this one.

Invidia and Soft Bank have called off Invidia's arm acquisition following regulatory scrutiny.

Arm CEO Simon Seagurs is resigning from the company, replaced by Arm I.

Group President Renee Haas, quoting Financial Times.

Soft Bank and Invidia said they have agreed to scrap the deal because of quote significant

regulatory challenges preventing the consummation of the transaction despite good faith

efforts by the parties end quote the Japanese

technology group which will receive a breakup fee of up to 1.25 billion dollars

said it would instead seek an initial public offering of arm before the end of its next fiscal year in March 2023

The deal's failure brought an immediate management shakeup at arm with Chief Executive Simon Seagres, replaced by Renee Haas, head of the company's

intellectual property unit.

The collapse of the cash and stock transaction robbed Softbank, a windfall from a

boom in Invidia's stock price. The deal was worth up to about

$40 billion when it was announced in September 2020, but increased as Invidious shares took

off. In the UK, where politicians view

arm as a strategic national asset, attention is set to shift to whether the

...