Since the coronavirus outbreak, Uber’s business slumped between 60 and 70 percent. After saying in February that it expected to generate between $16 billion and $17 billion this year, the company now says it cannot forecast its revenue. D.A. Davidson senior research analyst Tom White said that, with regard to ride-sharing, “the whole country is going to be down 70 to 80 percent.” The coronavirus has also highlighted a crucial labor issue: whether ride-share drivers are considered employees or independent contractors. Read more

In opposition to the Pentagon, Federal Communications Commission chair Ajit Pai backed Ligado Networks’ plan to develop the L-band spectrum of airwaves for cellular service. In his draft order, Pai stipulated “certain conditions” that would protect against interference with Global Positioning System technology. Opponents say the company’s usage would interfere with military operations and weather forecasting bandwidth. Ligado, originally known as LightSquared, went bankrupt in 2012 when its business plans were rejected. Read more

Facebook and its partners pulled back their ambitious plans for the Libra cryptocurrency, which was unveiled last June as “a futuristic global money” that could be the foundation of a “new kind of financial system.” In the months since its June debut, the Libra project has encountered a range of obstacles and the scrutiny of regulators. The Swiss-backed Libra Association, citing global opposition to the project, now aims to create a payment network with coins tied to a local currency. Read more

Microsoft and the National Basketball Association have inked a multiyear deal to build a consumer-facing digital platform to debut with the 2020-2021 season. The NBA will utilize the tech company’s Azure cloud computing and artificial intelligence capabilities to customize games and experiences. The deal’s terms were not revealed, but it covers all NBA properties including the Women’s National Basketball Association and USA Basketball. To win the deal, Microsoft bested cloud competitors Amazon and Google. Read more

The Academy Software Foundation (ASWF), developed by the Academy of Motion Pictures Arts and Sciences and the Linux Foundation to provide a neutral forum for open source software developers, announced that its sixth hosted project is Open Shading Language (OSL), originally developed by Sony Pictures Imageworks. OSL, which was honored with an Academy Scientific and Technical Award in 2017, is now the de facto standard shading language for VFX and animation. ASWF also stated that AMD and DockYard have joined as new members. Read more