Hello everyone. This is your daily tech and business briefing from cheddar news
Peloton. Ceo john Foley stepping down from the company.
Peloton will replace its top boss with former Spotify CFO Barry McCarthy
now Foley will transition to the role of executive chair.
Peloton reported that they had a loss for the last quarter
and they cut their revenue outlook for the year as well.
Meanwhile,
religious leaders are calling on Mark
Zuckerberg to cancel plans for Instagram kids
in September Instagram paused their app for Children under 13
that after facing heavy scrutiny,
the nonprofit fair place sent a letter signed by more than 75 religious leaders,
all urging Zuckerberg to permanently canceled the project
and Tiktok exploring the idea of age rated content restrictions.
The company announced their testing how adult rated content
can now be restricted from younger users accounts.
The company also says they'll test a way
for creators to specify if they want their content
to only be viewed by older audiences
and the channel news, business and tech update.
I'm baker machado coming to you from cheddar studios in lower Manhattan