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November 4, 2022, 3:45 PM
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| Faiz Siddiqui / Washington Post: |
Twitter begins laying off staff, sending a “Your Role at Twitter” email to their company account for those staying and personal account for those leaving — Employees said the layoffs came across teams, as Twitter broadly reduced its workforce.
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| Josh Eidelson / Bloomberg: |
Twitter workers file a class action lawsuit against the company in San Francisco for executing mass layoffs without at least 60 days notice, per the WARN Act — The lawyer who sued Twitter Inc. “pre-emptively” on the eve of mass layoffs by Elon Musk said she's “pleased” …
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| Wall Street Journal: |
Elon Musk says Twitter has had a “massive” revenue drop due to activist groups pressuring advertisers, despite doing “everything” to “appease the activists” — Chief of social-media company cites activist groups pressuring advertisers, as many staffers brace to lose jobs
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| Reed Albergotti / Semafor: |
A profile of Twitter's global head of safety and integrity Yoel Roth, who has become one of few executives to gain Elon Musk's public support after his takeover — Reed is Semafor's Technology Editor, joining us from the Washington Post. Louise is a Technology Reporter for Semafor, joining us from NBC News.| Wall Street Journal: |
General Mills and Audi paused Twitter ads, and sources say Pfizer and Mondelez have as well, as concern over content moderation grows — Advertisers are concerned about a flurry of executive departures at Twitter and new owner Elon Musk's plans for content moderation
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Tweets: @reckless, @markgongloff, @jessicalessin, @nkulw, @chriswarcraft, and @citizenjaneph
| Reuters: |
Sources: Elon Musk told Twitter's teams to find up to $1B in annual infrastructure cost savings, including reduced spending on cloud services and server space — Elon Musk has directed Twitter Inc's teams to find up to $1 billion in annual infrastructure cost savings, according …
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Tweets: @valpancakes, @tante, @jendrawscomics, @cubicleapril, @dhh, @petrillic, and @kyleworton
| New York Times: |
Sources: Elon Musk weighs adding paid DMs to let users privately message “Very Important Tweeters”; docs show Twitter Blue checks won't require ID verification — The billionaire and his advisers have discussed adding paid direct messages, fees to watch videos and other features to the service.
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| Casey Newton / Platformer: |
Sources: Twitter plans to shut down newsletter platform Revue, acquired in January 2021, by the end of 2022, and pauses its new Notes product and crypto wallet — A new Vine camera is in. Notes and Revue are out — With massive layoffs expected to hit Twitter tomorrow …
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| Reuters: |
Chainalysis: Binance processed around $7.8B through Iran's largest crypto exchange Nobitex since 2018, despite US sanctions; 75% of transactions were in Tron — Crypto giant Binance has processed Iranian transactions with a value of $8 billion since 2018 despite U.S. sanctions intended … | Jay Peters / The Verge: |
Hands-on with Netflix's Basic with Ads: while most shows have pre-roll ads, mid-roll ads are more unpredictable; many popular shows are locked to higher tiers — Clicking into something on Netflix's new ads tier is a roll of the dice: you never know how many ads you might have to sit through.
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Gizmodo, 9to5Mac, Variety, Insider, Tech Advisor, Ars Technica, PCMag, GameSpot, Deadline, Variety, Game Rant, and MacRumors. Tweets: @michellemanafy
| Alex Barinka / Bloomberg: |
The head of Instagram Adam Mosseri talks about balancing the urgency to make Reels work for Meta and not making “any mistakes by pushing too hard or too fast” — As Meta Platforms Inc. pursues an expensive, unproven metaverse strategy, success will depend in part on whether Instagram can pay the bills.
Tweets: @alexbarinka
| Brianna Wessling / The Robot Report: |
AMP Robotics, which creates robotics systems that use AI to sort recyclable materials, raised a $91M Series C, bringing its total raised to $165.5M — AMP Robotics, a company creating robots that can organize recycling, brought in $91 million in corporate equity in a Series C funding round.
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| Fortune: |
How Reddit's blockchain-based Collectible Avatars, which avoid the NFT label, became popular; Polygon data shows the total sales volume was $10M+ by November 2 — At 2:59 p.m. ET on Oct. 20, when Reddit announced its second generation of collectible avatars, Ethan Clark was ready, phone in hand.| Heather Somerville / Wall Street Journal: |
PitchBook: VCs raised $151B across Q1, Q2, and Q3 2022, above any prior full-year fundraising and concentrated in large funds at Sequoia, Lightspeed, and others — Limited partners who back venture funds still seek access to startups, which have outperformed other asset classes during recessionsSponsor Posts
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