Yahoo finally has a buyer. Verizon is acquiring the core business of Marissa Mayer's ailing company for $4.8 billion in cash, just in time for Verizon's quarterly earnings report tomorrow. Alongside AOL chief Tim Armstrong, Verizon exec and rising star Marci Walden spearheaded the deal.
[Kara Swisher | Recode]

Democratic National Committee chairwoman Debbie Wasserman-Schultz is resigning after a Wikileaks email breach that "showed party officials conspiring to sabotage the campaign" of Bernie Sanders. Wasserman-Schultz, a close ally of Hillary Clinton's, has been given an honorary position with the Clinton campaign, which is loudly pointing the finger at Russian "state actors" as the culprits behind the hack.
[Jonathan Martin and Alan Rappeport | The New York Times]

Meanwhile, the Democratic National Convention gets underway in Philadelphia today. Speakers will include President Obama, First Lady Michelle Obama and, in a slight surprise, Michael Bloomberg. Hillary Clinton's running mate, Virginia Senator Tim Kaine, will also take the stage. Though Silicon Valley doesn't yet really know the guy, the tech industry will probably learn to like him a lot.
[Laura Meckler and Janet Hook | The Wall Street Journal]

On the latest episode of Recode Decode, Kara Swisher talks with Antonio García-Martinez, author of the new tell-all book “Chaos Monkeys." García-Martinez argues that Silicon Valley likes to lie to itself about everything — including politics, and basic facts about winners and losers. But he also says that the industry's widespread delusion is part of what has made it so successful.
[Eric Johnson | Recode]

Amazon is the cloud computing leader with its Amazon Web Services behemoth. Microsoft recently reported better-than-expected quarterly earnings, on the growing strength of its cloud unit. Google, meanwhile, is investing heavily in integrating its artificial intelligence technology with its own cloud unit in an effort to catch up with Amazon and Microsoft.
[Quentin Hardy | The New York Times]