Zillow, facing big losses, quits flipping houses and will lay off a quarter of its staff.
The real estate website had been relying on its algorithm that estimates home values to buy and resell homes. That part of its business lost about $420 million in three months. https://nyti.ms/3CFydw5
The Orion capsule’s splashdown in the Pacific Ocean moved NASA into the next stages of the Artemis program, which will rely on Elon Musk’s rocket company to build a moon lander for astronauts. https://nyti.ms/3YcuUYn
Some of the industry’s critics are skeptical, however, about a new flexibility to changes to Section 230 of the Communications Decency Act. https://nyti.ms/34ey2si
The digital media company, which will merge with a publicly listed shell company in what is known as a SPAC deal, also lined up about $150 million in debt financing. https://nyti.ms/2SXcq1k
