Gabe Newell, the co-founder and president of the gaming company Valve Corp., spent a morning in November 2023 with a handful of lawyers at the Arctic Club Hotel in downtown Seattle, talking in circles. Newell’s company runs Steam, the dominant online store for PC games, and was facing a lawsuit filed by a set of independent game developers who claimed that Steam operated an illegal monopoly in the $40 billion industry. Because developers relied so heavily on Steam, the suit argued, Valve has been able to stymie competition and charge “supracompetitive” fees.

SpaceX is planning to set the terms of its initial public offering as early as Wednesday afternoon, according to people familiar with the matter, ahead of what’s expected to be the biggest ever listing.

The European Commission is planning to extend a critical deadline for Prosus NV to sell down a stake in Delivery Hero SE to October, buying the investor some meaningful time to thwart another possible takeover attempt of the food delivery service by Uber Technologies Inc.

Souring Bitcoin sentiment has triggered almost $1.5 billion in crypto liquidations over the past 24 hours, as the largest digital asset sank back to a two-month low.

Matt Levine discusses Google and the new need for capital, chip puts, Andrew Left, and a Knicks Kalshi hedge.

Investors are about to get a read on the durability of the soaring rally in cybersecurity stocks when two of the industry’s major players report earnings in the coming days.