Meta lays off hundreds, FTX collapses, and Twitter has a really bizarre week
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Twitter had every week so unusual that it might simply make up this complete publication, so we’ll preserve to the bullet factors:
- Last week Elon laid off an enormous chunk of the corporate. This week, a few of those that had been let go had been reportedly requested to return again.
- Twitter began giving blue verified checkmarks to anybody who’d pay $8. Things acquired chaotic quick.
- Twitter rolled out a brand new, second checkmark for “Official” accounts. And then removed them. And then…introduced them again?
- By Friday morning, after pretend “verified” accounts popped up for every little thing from firms to athletes to politicians, Twitter paused the $8 verification badge program.
- Quite a lot of execs stop — to the purpose the place the exits perked the ears of the FTC.
- Elon reportedly instructed Twitter staff that “bankruptcy isn’t out of the question” for the corporate.
FTX collapses: Once one of many largest crypto exchanges on the planet, FTX successfully exploded this week. It briefly regarded like competitor Binance would step in to amass FTX, just for Binance to take one have a look at FTX’s books and again out virtually instantly. FTX founder Sam Bankman-Fried has since resigned, and the corporate has filed for chapter.
Meta layoffs: Meta — the mother or father firm behind Facebook, Instagram, and Whatsapp — laid off 13% of its workforce this week. With a worldwide headcount of round 87,000 staff, that works out to over eleven thousand roles reduce.
Gmail will now not allow you to return to previous Gmail: Don’t like the brand new look that Gmail began rolling out again in July? Bad news. While customers might beforehand revert to the previous design, the Gmail workforce introduced this week that the brand new design would be the “standard experience” for all inside weeks.
Google finds exploits in Samsung telephones: “Google says it has evidence that a commercial surveillance vendor was exploiting three zero-day security vulnerabilities found in newer Samsung smartphones,” writes Zack Whittaker. “The chained vulnerabilities allow an attacker to gain kernel read and write privileges as the root user, and ultimately expose a device’s data.”
Looking for a brand new podcast to tune into in your commute? Here’s what’s up in TC podcasts these days:
- The Chain Reaction crew broke down the absurd collapse of FTX because it was taking place.
- Equity (with a visitor look from TC’s Becca Szkutak) coated the seemingly limitless layoffs we’re seeing from tech firms massive and small, and what FTX’s meltdown means for it and corporations prefer it.
- Darrell was joined on The Thealike Podcast by TC senior reporter Dom-Madori Davis to speak about “the coalition of VCs that are standing for reproductive rights” and to recap the largest tech tales of the week.
Not a Thealike+ member but? Here’s what members had been trying out most behind the paywall:
How ButcherBox bootstrapped to $600M in income: How did ButcherBox develop from a modest Kickstarter to $600 million in income in only a few years? Haje outlines the corporate’s path up to now.
The Exchange: In his more and more fashionable each day publication, Alex Wilhelm wonders: Has everybody been valuing software program firms the mistaken approach all alongside?
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