Daily Crunch: WeWork CEO steps down

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1. CEO ouster, looming layoffs and devaluation turn WeWork into cautionary tale

Adam Neumann succumbed to pressure yesterday to step down as CEO, taking the role of non-executive chairman at the company he co-founded nine years ago.

Layoffs are likely to follow — in fact, sources tell TechCrunch that the scope of these layoffs will be massive, with newer business units scaled back so the company can focus on its core business. (Extra Crunch membership required.)

2. Facebook promises not to stop politicians’ lies & hate

Facebook says it won’t fact check politicians’ speech or block their content if it’s newsworthy — even if that content violates the site’s hate-speech rules or other policies.

3. Nintendo’s ‘Mario Kart Tour’ is out now for iPhone, iPad and Android

Like Nintendo’s other mobile releases, Mario Kart Tour is free to play, with in-app purchases (in-game currency called “rubies”) that you use for upgrades and unlocks.

4. Media metrics giant Comscore pays SEC $5 million in fraud settlement

The company’s share price has been in free-fall since some of its actions came to light earlier this year. It was trading above $20 back in April; the company’s stock now sits just above $2 per share.

5. Devin Wenig steps down as eBay CEO

Earlier this year, investors Elliott Management suggested key structural changes to help reinvigorate a floundering company. Layoffs and restructuring followed the letter.

6. Apple says a bug may grant ‘full access’ to third-party keyboards by mistake

“Full access” allows keyboard makers to capture keystroke data or anything you type — like emails, messages or passwords. This bug may allow third-party keyboards to gain full access permissions without user approval.

7. Fidel raises $18M to let developers build on top of payment data from Visa, Mastercard and Amex

Working in partnership with Mastercard, Visa and American Express, Fidel has developed a suite of APIs that make it easy to link a user’s payment card to an app. This means that developers are able to build card-linked applications “in a matter of minutes.”

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