10 Things In Tech You Need Know This Morning

Good morning! It will be warm, with evening showers here in New York. So pack an umbrella, kids. Here's the news:

1. Microsoft revealed the Surface Pro 3, a $799 12-inch hybrid tablet-laptop. It's more focused on being laptop replacement than a real tablet. It's an additional $129 for a keyboard cover. This is a questionable move since the previous Surfaces haven't sold well, and have basically done the same thing at a lower price.

2. Microsoft decided to shelve a smaller version of the Surface, according to reports. CEO Satya Nadella and EVP Stephen Elop decided that a smaller Surface wasn't going to be differentiated enough to make it worth it.

3. Twitter decided against buying SoundCloud because "the numbers didn't add up."

4. Cisco CEO John Chambers predicts brutal times are coming for the top players in the IT industry. He says there will be consolidation, and only 2 of the top 5 companies will be around in 5 years.

5. Wired has a big story on Oculus Rift.

6. Marc Andreessen says tech companies have made no progress with the Obama administration on the NSA, privacy, or surveillance. All meetings with Obama are mostly just for show right now.

7. Yahoo is close to buying a video streaming startup called RayV. It's been around since 2006, but according to the WSJ it launched a software suite in 2012 that "includes a content-distribution network, a content-management system and digital-rights management."

8. Three months after it announced $133 million in funding, Indian e-commerce site Snapdeal is raising another $100 million at a $1 billion valuation.

9. The FBI is having a hard time hire tech savvy employees because they all smoke pot, which is against the FBI's rules.

10. A top official at New York City's Taxi and Limousine Commission is joining Uber.