It’s Friday, and welcome to another edition of Tech Crawl, in which we collect all the best tech news from the last 24 hours for you to digest.
Department of Justice is investigating Uber
According to The Washington Post, the U.S. Department of Justice has launched a criminal investigation into Uber’s “Greyball” program, which was secret software used to evade local authorities in places where its ride-hailing service was either banned or restricted.
Uber says it has not used the Greyball service since April 2015 and described it as “the practice of showing some customers a different version of the app than most customers see,” the Post reported.
Warren Buffett says goodbye to some of his IBM shares
It’s not good news when legendary investor Warren Buffett has decided your stock isn’t worth holding on to anymore.
Buffett confirmed in a television interview yesterday that he has sold about a third of his shares in IBM. The Berkshire Hathaway Chairman told CNBC that he has “revalued (IBM) somewhat downward” because of strong competition, the Wall Street Journal reported.
Berkshire previously held about 81 million shares at the end of last year and sold about 24 or 25 million shares, according to CNBC. Berkshire started buying IBM in 2011.
Facebook is shutting down its VR studio
Variety is reporting that Facebook has decided to shut down its VR movie production studio, called Oculus Story Studio, affecting about 50 staffers. All ongoing projects are canceled.
The studio was launched in 2015 and produced at least one Emmy-winning short film. The story notes that Facebook is not giving up on VR films, but instead plans to focus on working with outside partners.
Your weekend #longreads recommendation
Check out this Wall Street Journal story about Nick Adams, a Wellington Management Co. star who lost millions investing in tech companies and is now apologizing and issuing refunds.
There’s also some fun life-of-the-rich details in there, such as the fact that he married his first cousin, has a pet pig, and that one of several properties he owns includes a $100,000 children’s tree house.
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