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January 21, 2023, 5:25 PM
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| Aaron Tilley / Wall Street Journal: |
How Apple's lean hiring may help it avoid layoffs; Apple's workforce grew 20% from 2019 to 2022, Amazon's grew 100%, Meta 94%, Alphabet 57%, Microsoft 53% — The iPhone maker's workforce grew 20% in the past three years, a far slower pace than rivals — Tech Layoffs Pile Up as Bosses Reverse Course
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| Dietrich Knauth / Reuters: |
US prosecutors provide a list of ~$700M worth of Sam Bankman-Fried's seized assets, including ~$525M in Robinhood stock and $94.5M cash at Silvergate Bank — Federal prosecutors have seized nearly $700 million in assets from FTX founder Sam Bankman-Fried in January, largely in the form of Robinhood stock …
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| Julia Love / Bloomberg: |
Google cuts most of the Area 120 team and will graduate three of the incubator's projects in 2023; sources: staff not involved in those projects were laid off — Alphabet Inc.'s Google has cut most of the jobs at Area 120, its in-house incubator for new projects, as part of a broad wave of layoffs across the company.
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| New York Times: |
Emails and sources: Google fired 16% of its ~400-person Fuchsia OS team, Research cut jobs in low traction areas, and Cloud cut operational and other roles — The layoffs amount to about 6 percent of the global work force at the company, the latest tech giant to make cuts after a pandemic hiring spree.
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| Bloomberg: |
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| Eric Wallerstein / Wall Street Journal: |
Filings: Signature Bank borrowed $10B in Q4 from Federal Home Loan Banks, the system originally designed to support mortgage lending; Silvergate borrowed $3.6B — Signature and Silvergate turn to government-chartered lenders after customer withdrawals surge| Can Duruk / Margins: |
The main reason ChatGPT is a threat to Google is because the latter's monopoly position allowed search to degenerate into a spam-ridden, SEO-fueled hellscape — I hate monopolies and welcome our AI overlords … I don't really cook often, but I do love making pasta aglio e olio.
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| Annie Palmer / CNBC: |
A look at Amazon's fledgling drone delivery unit, which has struggled due to safety concerns and now faces layoffs and other cost-cutting measures — - As part of Amazon's widespread layoffs, some employees in the nascent drone delivery project are losing their jobs, according to people familiar with the matter.
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Wired, Engadget, and WRAL TechWire
| Sarah Wynn / The Block: |
The US SEC charges Avraham Eisenberg with manipulating Mango Markets' governance token MNGO to steal $116M of crypto assets and says MNGO was sold as a security — - The SEC brought charges against Avraham Eisenberg on Friday after the U.S. securities regulator said Eisenberg stole $116 million from Mango Markets.
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| Jason Del Rey / Vox: |
Current and ex-Amazon managers and execs say focus on managing costs should have come sooner, ideas aren't evaluated with the same rigor as before, and more — After the largest corporate layoffs in its history, the tech giant is at a crossroads. — For years, it seemed as though nothing … | Lora Kolodny / CNBC: |
Internal records: Twitter now has around 1,300 active employees, including fewer than 550 full-time engineers, and about 1,400 non-working employees — - Internal records show that Twitter has shed about 80% of its employees since Elon Musk took over and headcount is hovering around 1,300 employees today.
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| Paresh Dave / Wired: |
Google, Microsoft, and other tech companies have offered a muted response to unrest in Iran, prompting staff side projects to fight internet censorship and more — Companies like Google have offered a muted response to unrest in Iran. Grassroots coders are tackling internet censorship on their own.
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PC Gamer
| Kevin Simauchi / Bloomberg: |
Crypto lender Genesis Global files for Chapter 11 bankruptcy in New York, listing the estimated range for both assets and liabilities as between $1B and $10B — Cryptocurrency lender Genesis Global Capital filed for bankruptcy, the latest firm to collapse in the aftermath of FTX's swift downfall.
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