Techmeme
November 16, 2022, 2:10 PM

Top News

Washington Post:
Elon Musk emails Twitter employees an ultimatum: commit to a new “hardcore” Twitter by 5pm ET on November 17 or leave with three months severance  —  It comes as Musk's first major feature, Twitter Blue Verified, was halted while the company probes issues that arose from its launch.
Casey Newton / @caseynewton:
Reuters:
A look at FTX and Alameda's financials, including showing investors balance sheets with some of the same assets, despite claiming they operated independently  —  As customers withdrew billions of dollars from crypto exchange FTX one frantic Sunday this month, founder Sam Bankman-Fried worked …
Wall Street Journal:
Former employees detail the chaos after FTX's collapse: mass resignations, learning news from Twitter and the media, equity compensation evaporating, and more  —  Many say they learned of crypto exchange's deteriorating situation through media and lost access to their funds  —  How FTX Went Bankrupt: What Went Wrong
Milky Eggs:
Everything we know about FTX's collapse: losses likely exceed $15B, trades became increasingly risky, SBF was erratic, rash, and relied on stimulants, and more  —  If you want to read a poorly researched fluff piece about Sam Bankman-Fried, feel free to go to the New York Times (PDF).
Sidhartha Shukla / Bloomberg:
A wallet linked to the suspected FTX hacker swapped ~$49M of stablecoins for ether, taking its haul to 228,523 ETH and becoming the 35th largest ETH holder  —  The hacker who raided Sam Bankman-Fried's collapsed crypto exchange FTX is now one of the world's biggest holders of the token Ether.
Nelson Wang / CoinDesk:
Genesis' crypto lending unit, which had $2.8B in active loans in Q3, suspends redemptions and new loan originations; trading and custody units are unaffected  —  The unit, known as Genesis Global Capital, serves an institutional client base and had $2.8 billion in total active loans as of the end of the third quarter of 2022.
Oliver Knight / CoinDesk:
An independent audit shows the Luna Foundation Guard spent $2.8B in crypto and Terraform Labs spent $613M trying to defend the UST stablecoin in May 2022  —  Terraform Labs founder Do Kwon dismissed similarities with the collapse of FTX.  —  Luna Foundation Guard (LFG) …
CNBC:
Despite repeated assurances from Crypto.com CEO Kris Marszalek, customers worry over the exchange's solvency; Crypto.com's CRO token drops ~40% in the past week  —  - Crypto.com CEO Kris Marszalek has taken to Twitter, YouTube and the airwaves to try to reassure customers that their deposits …
Jay Peters / The Verge:
Elon Musk says the new Twitter Blue will relaunch on November 29 “to make sure that it is rock solid”, after pausing signups due to many fake verified accounts  —  Elon Musk says the new Twitter Blue, which lets you pay $7.99 per month for a blue verification check mark next to your name, will relaunch on November 29th.
Colin Wilhelm / The Block:
The House Financial Services Committee plans a hearing on FTX's collapse in December and invites Sam Bankman-Fried and other executives  —  - The House Financial Services Committee will hold a hearing on FTX in December.  — In a joint statement announcing the hearing, current Chair Maxine Waters …
Mark Gurman / Bloomberg:
Internal meeting: Tim Cook told German engineering and retail staff that Apple plans to start sourcing chips from a plant under construction in Arizona in 2024  —  Apple Inc. is preparing to begin sourcing chips for its devices from a plant under construction in Arizona …
Matthias Bastian / The Decoder:
Meta AI and Papers with Code unveil Galactica, an open-source LLM for generating literature reviews, wiki articles, lecture notes on scientific topics, and more  —  The Galactica large language model (LLM) is being trained with millions of pieces of academic content.
Will Feuer / Wall Street Journal:
Citing a weakened market, Micron says wafer production for DRAM and NAND memory chips will be down about 20% over the past quarter; Micron's stock falls 5%+  —  Company cites market conditions for softening demand  —  Micron MU -5.04%decrease; red down pointing triangle Technology Inc …

Sponsor Posts

Clay:
Turn any GTM idea into reality  —  Clay helps GTM teams combine AI agents, enrichment, and intent data to move faster and turn insights into action.
Soxton:
AI-powered law for startups  —  Soxton automates startup legal so founders can move faster and sleep better.  We handle incorporation, advisor, employment and commercial contracts.  Join the waitlist for early access!
Zoho:
8 years of PageSense: Introducing PageSense 3.0  —  PageSense was built eight years ago with a simple goal: to help businesses understand user behavior and improve conversion outcomes through experimentation.
IDrive:
Protecting your Cloud Applications Data  —  Backing up Office 365, Google Workspace, Dropbox & Salesforce data is critical to preventing data loss or corruption, complying with laws and avoiding critical downtime in case of a disaster.

Featured Podcasts

Lenny's Podcast:
"Engineers are becoming sorcerers" | The future of software development with OpenAI's Sherwin Wu
Interviews with world-class product leaders and growth experts to uncover actionable advice to help you build, launch, and grow your own product.
Subscribe to Lenny's Podcast.
Cheeky Pint:
Ben Thompson from Stratechery on AI ads, the end of SaaS, and the future of media
Stripe cofounder John Collison interviews founders, builders, and leaders over a pint.
Subscribe to Cheeky Pint.
Tools and Weapons with Brad Smith:
His Excellency Khaldoon Al Mubarak: Investing in an AI-Driven World
Microsoft Vice Chair and President Brad Smith speaks with leaders in government, business, and culture to explore the most critical challenges at the intersection of technology and society.
Subscribe to Tools and Weapons with Brad Smith.
The Nick, Dick and Paul Show:
The Billionaire Button w/ Tim Wu
Nick Bilton, Dick Costolo, and Paul Kedrosky pull back the curtain on AI, startups, and the future rushing toward us, all with healthy dose of irreverence.
Subscribe to The Nick, Dick and Paul Show.
Great Chat:
No one won the AI Bowl
A podcast mostly about tech. Brought to you weekly by Angela Du, Sally Shin, Mac Bohannon, Helen Min, and Ashley Mayer.
Subscribe to Great Chat.
Big Technology Podcast:
Who's Winning The AI Race? + Software's Future — With Sridhar Ramaswamy
The Big Technology Podcast takes you behind the scenes in the tech world featuring interviews with plugged-in insiders and outside agitators.
Subscribe to Big Technology Podcast.
 

About This Page

This is a Techmeme archive page. It shows how the site appeared at 2:10 PM ET, November 16, 2022.

The most current version of the site as always is available at our home page. To view an earlier snapshot click here and then modify the date indicated.

More News

Josh Ye / Reuters:

Earlier Picks

Allison Johnson / The Verge: