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November 4, 2022, 7:35 AM
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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  —  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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From Mediagazer

Connor Hart / Wall Street Journal:
Hasbro launches Sixth Wall, an AI studio working with ElevenLabs and voice actors to create and license AI-native versions of its characters and franchises

Washington Post:
Two Stars and Stripes advisory board members sue the US Defense Department, saying new restrictions on the paper violate the First Amendment and federal law

Adam Rose / The Guardian:
Police at an NJ immigration center's protests treated media inconsistently; the US Press Freedom Tracker counted 30 assaults by officers on reporters in a week

More News

Dina Bass / Bloomberg:
A look at the promise and peril of generative AI, as Microsoft plans to develop GitHub Copilot for other job categories, like security and video game design

Earlier Picks

Kate Irwin / Decrypt:
Meta lets select Instagram creators in the US test a toolkit for minting NFTs and selling them on and off the platform, and says it won't charge fees until 2024
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