indexindexauthorShakeel HashimNoneNeed to dive deep into the financial movements that matter to tech? Get Shakeel Hashim's newsletter every Friday.f11fbe35a3
×

Get access to Protocol

I’ve already subscribed

Will be used in accordance with our Privacy Policy

Bulletins

Libra is now called Diem

The cryptocurrency effort, backed by Facebook, is now called Diem, and will initially launch a single dollar-backed coin.


Stuart Levey, CEO of the Diem Association, said "the original name was tied to an early iteration of the project that received a difficult reception from regulators."

Facebook's payments unit was previously rebranded from Calibra to Novi Financial.

People

Why the stock market went crazy — and one way to fix it

Leif Abraham, the co-CEO of Public, joins the Source Code podcast to talk about what's happening with GameStop, how fintech companies should be helping investors, and what "finance social" looks like.

Public's app tries to make investing simpler. And a little less crazy.

Image: Public

Leif Abraham wants to be very clear that most of this week's GameStop-stock insanity was not happening on his investing platform. (Maybe a little was, but not much.) While Robinhood was climbing the app store charts this week and prices were going out of control, things were a little quieter on Public, where Abraham is co-CEO. And he thinks that's a good thing: He's trying to build a company, a product, and a community that are all focused on long-term goals rather than short-term gains.

At the same time, Abraham said on this week's Source Code podcast, what's happening with GameStop — and AMC and BlackBerry and Nokia and a host of other stocks juiced by retail investors — does signal a shift in how the stock market works. It's no longer the exclusive property of suspenders-wearing bankers and vest-wearing hedge fund bros. The "retail investor," as they're often called, is a force to be reckoned with.

Keep Reading Show less
David Pierce

David Pierce ( @pierce) is Protocol's editor at large. Prior to joining Protocol, he was a columnist at The Wall Street Journal, a senior writer with Wired, and deputy editor at The Verge. He owns all the phones.

Protocol | China

More women are joining China's tech elite, but 'Wolf Culture' isn't going away

It turns out getting rid of misogyny in Chinese tech isn't just a numbers game.

Chinese tech companies that claim to value female empowerment may act differently behind closed doors.

Photo: Qilai Shen/Getty Images

A woman we'll call Fan had heard about the men of Alibaba before she joined its high-profile affiliate about three years ago. Some of them were "greasy," she said, to use a Chinese term often describing middle-aged men with poor boundaries. Fan tells Protocol that lewd conversations were omnipresent at team meetings and private events, and even women would feel compelled to crack off-color jokes in front of the men. Some male supervisors treated younger female colleagues like personal assistants.

Within six months, despite the cachet the lucrative job carried, Fan wanted to quit.

Keep Reading Show less
Shen Lu

Shen Lu is a Reporter with Protocol | China. She has spent six years covering China from inside and outside its borders. Previously, she was a fellow at Asia Society's ChinaFile and a Beijing-based producer for CNN. Her writing has appeared in Foreign Policy, The New York Times and POLITICO, among other publications. Shen Lu is a founding member of Chinese Storytellers, a community serving and elevating Chinese professionals in the global media industry.

Latest Stories