Techmeme
November 4, 2022, 7:35 AM

Top News

Faiz Siddiqui / Washington Post:
More: New York Times, Collective Action in Tech, Engadget, The Verge, Bloomberg, BBC, The Economic Times, Insider, TechCrunch, Livemint, Bloomberg, The Information, Silicon Republic, RTÉ, MobileSyrup, Forbes, Attack of the 50 Foot …, Insider, City A.M., Android Headlines, Fossbytes, Reuters, CNBC, CoinGape, CNN, The Guardian, Tech in Asia, Silicon Valley Business …, SlashGear, Deadline, Variety, New York Post, The Hollywood Reporter, Financial Times, Insider, BGR India, The Register, Wall Street Journal, Digital Trends, Mashable, Axios, Neowin, Engadget, Pixel Envy, and Newser
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  —  Twitter Inc. was sued over Elon Musk's plan to eliminate about 3,700 jobs at the social-media platform — half of its workforce …
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 …
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.
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 …
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
Annie Palmer / CNBC:
Amazon pauses hiring for roles in its corporate workforce, after announcing in October plans to freeze hiring for corporate roles in its retail business  —  KEY POINTS  — Amazon is pausing hiring for roles in its corporate workforce, the company announced in a memo to staff Thursday.
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.
Heather Somerville / Wall Street Journal:
PitchBook: VCs raised $151B across Q1, Q2, and Q3 2022, exceeding any prior full-year cycle, concentrated among 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 recessions
Nelson Wang / CoinDesk:
Coinbase Q3: net revenue down 28% QoQ to $576M, net loss down 50% QoQ to $545M, subscription and services up 43% QoQ, and monthly transacting users down to 8.5M  —  The crypto exchange's transaction revenue fell 44% from the second quarter.  —  Crypto exchange Coinbase (COIN) …
Jordan Novet / CNBC:
Atlassian reports Q1 revenue up 31% YoY to $807.4M, vs. $806.4M est., and forecasts lower than expected Q2 revenue; stock drops 20%+ after falling 54% in 2022  —  - Atlassian's quarterly revenue outlook missed expectations.  — The software maker said existing customers are adding users at a reduced pace.
Jennifer Surane / Bloomberg:
Memo: Stripe plans to lay off 14% of its staff this week, reducing its headcount by 1,000+ to almost 7,000, to trim expenses in preparation for “leaner times”  —  Stripe Inc., one of the world's most valuable startups, will cut more than 1,000 jobs as it seeks to rein in costs ahead of any economic downturn.

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