📱 TikTok Names a New CEO, 💳 Capital One Acquires Brex, ✂️ Amazon Plans Layoffs
Brex: “We’re not a bank.” Also Brex:
Here are 5 things worth knowing this week in tech and business.
1) TikTok forms a US joint venture and names Adam Presser CEO
TikTok formed a US joint venture to continue operating domestically and appointed Adam Presser as CEO, with Shou Chew remaining involved at the board level. The move is designed to reduce regulatory and advertiser risk by putting US operations under clearer domestic leadership.
2) ChatGPT’s traffic declines as Google’s Gemini surges
Global traffic data shows ChatGPT usage falling in January while Gemini usage rose sharply, driven by integration across Google Search, Android, and Workspace. This highlights how default placement inside existing products is becoming a stronger driver of AI usage than standalone app adoption.
3) Capital One agrees to acquire Brex for $5.15B
Capital One announced a $5.15B cash-and-stock acquisition of Brex, bringing a startup-focused fintech under a major US bank. The deal gives Capital One immediate access to venture-backed customers and modern expense tooling while giving Brex regulatory scale and balance-sheet support.
4) Netflix agrees to buy Warner Bros. Discovery’s studio and streaming business
Netflix agreed to acquire Warner Bros. Discovery’s studio and streaming assets in an all-cash deal pending regulatory approval. Owning major IP libraries and studios strengthens Netflix’s content control as subscriber growth slows and competition intensifies.
5) Amazon plans another round of corporate layoffs
Amazon is preparing to cut thousands more corporate roles, aiming to reduce roughly 10% of its corporate workforce. The layoffs show Amazon is still correcting post-pandemic overhiring while focusing spending on higher-margin and efficiency-driven areas.
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