Facebook lobbying spend hits record high, questions over Netflix's original content plan, and a machine that destroys iPhones.
Good morning! Here is the tech news you need to know this Friday.
1. Facebook doubled its European lobbying spend to $3 billion. The firm faced multiple crises last year, including the spread of fake news, terrorist content, and election interference.
2. Netflix is betting billions on its original shows and movies — but this analyst warns it's a far riskier gamble than investors realise. The bull case for Netflix has a big flaw.
3. Leaked video shows Theranos employees playing the video game they created where you shoot at the reporter who exposed the startup's problems. The firm once valued at $9 billion is in trouble — and some staff blame a Wall Street Journal journalist.
4. A prominent tech investor says arrogance in Silicon Valley has reached fever pitch. He's constantly embarrassed by what people say.
5. Apple has a new iPhone-destroying robot called Daisy. It can disassemble 200 iPhones an hour.
6. Apple might have a new iPhone SE in the works. The company raised hopes of a next-generation iPhone SE with a regulatory filing in Russia.
7. Jeff Bezos explains why he will never be satisfied with Amazon's success. He loves that customers are "divinely discontent."
8. YouTube ran ads from hundreds of brands on extremist channels. CNN found ads from companies including Adidas, Amazon, and Facebook on channels promoting white nationalists, Nazis, paedophilia, conspiracy theories, and North Korean propaganda.
9. The International Monetary Fund chief has warned that US tech giants wield too much power. "Too much market power in the hands of the few is not helpful to the economy or to the wellbeing of individuals," Christine Lagarde said.
10. Amazon buys exclusive UK rights to the US Open. Amazon's five-year deal is worth $40 million, according to The Guardian.