Data Sheet—Sorting Good From Bad in the Tech Stock Rout

Eh, what’s up, Doc? As Adam noted, tech stocks tanked on Tuesday amid growing fears of a regulatory crackdown. Poster child for the worrywarts Facebook lost 5% and is now down 18% since March 16. Darling chipmaker Nvidia lost 8% as it suspended its self-driving car tests worldwide in the wake of the Uber accident in Arizona that killed a pedestrian last week. Other big losers included Twitter, down 11%, Tesla, falling 8%, Netflix, off 6%, and Microsoft, down 5%.

Gee, ain’t I a stinker? Speaking of regulatory troubles, Facebook CEO and founder Mark Zuckerberg will reportedly testify before Congress to address criticism over the misuse of user data. But a date for the hearing by the House Energy and Commerce Committee has yet to be set, Bloomberg reported. The social network unveiled simplified privacy settings on Tuesday.

For shame, doc. Elsewhere in the mess of troubles, Uber agreed to pay $ 10 million to settle a class-action suit brought on behalf of 420 female and minority engineers. As part of the proposed settlement, the company said it would change how it decides employee compensation and promotions in addition to providing women and minorities with more training and mentoring. Uber also said it was allowing its permit to test self-driving cars in California lapse in the wake of last week’s fatal accident in Arizona. The company is also suspending tests in Pittsburgh and Toronto.

Well, what did you expect in an opera? A happy ending? And speaking of shutdowns, two well known startups are closing their doors. Delivery firm Shyp is ending all operations after soaking up more than $ 60 million in venture backing. And innovative camera maker Lytro is closing down as part of being acquired by Google, which was mainly interested in hiring Lytro’s engineers.

Watch me paste that pathetic palooka with a powerful, pachydermous, percussion pitch. Oracle’s on-again, off-again lawsuit against Google for copyright infringement is on again after an appeals court ruled for Larry Ellison’s side. The judges overturned a lower court decision that Google’s copying of some APIs from Oracle’s Java for use in Android was allowable under the Fair Use doctrine. The closely followed case could make it nearly impossible for companies to create interoperable software. Microsoft, Hewlett Packard Enterprise, and Red Hat had warned in a brief that a ruling for Oracle “would have a profoundly destabilizing effect on the entire industry.” The case is likely headed to the Supreme Court.

I bet you say that to all the wabbits. Apple unveiled an upgraded 9.7-inch iPad aimed at schools and software to help teachers manage their classrooms. The new low-end iPad still costs $ 329 (or $ 299 for schools) but gained a faster processor and compatibility with Apple’s Pencil stylus. That doesn’t seem like enough to help Apple claw back the market share it has ceded to Google’s Chromebook in the education market. And in the first leak about the next Apple Watch upgrade, KGI Securities analyst Ming-Chi Kuo predicts a 15% larger screen, a “more trendy from factor design,” and a longer battery life.

It’s the suspense that gets me. Health insurance startup Oscar Health raised $ 165 million in a deal that valued the company at $ 3.2 billion, CNBC reported. “Before you know it, we’ll be profitable,” Brian West, Oscar’s CFO, told the network. “It’s around the corner.”