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November 4, 2022, 8:00 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 … | 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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Gizmodo, Bloomberg, International Business Times, Fortune, Wall Street Journal, CNN, and Only Third Party
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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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TNW, Ars Technica, Bitcoinist.com, SlashGear, Cryptopolitan, CoinDesk, and CryptoPotato
Tweets: @kurtwagner8, @mattnavarra, @niubi, @fmanjoo, @caseynewton, @hunterwalk, @martinsfp, @mcwm, and @ryneismean
| 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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Bloomberg, Insider, ZDNet, International Business Times, Livemint, Cryptopolitan, and SlashGear
| 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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Wall Street Journal, CNBC, The Guardian, The Register, Barron's Online, Ad Age, Washington Post, Fortune, Mobile Dev Memo, New Republic, The Economic Times, New York Post, and AdExchanger
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| Juli Clover / MacRumors: |
PayPal plans to support iPhone's Tap to Pay in its PayPal and Venmo iOS apps “soon”, add Apple Pay to its checkout options on merchant platforms, and more — The PayPal and Venmo iOS apps will soon offer Apple's Tap to Pay on iPhone functionality, allowing merchants that use PayPal …
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PayPal Holdings, Inc., Engadget, and TechCrunch
| 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.
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About Amazon, New York Times, Coinspeaker, TechCrunch, and Bloomberg
Tweets: @teamblind, @thedomino, @gergelyorosz, @lesliejosephs, and @conorjrogers
| 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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9to5Mac, Variety, AppleInsider, MacRumors, Variety, TheGamer, Deadline, Mashable, Pocket-lint, and Digital Trends
| 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| Richard Waters / Financial Times: |
Combined capital spending by Alphabet, Amazon, Apple, Meta, and Microsoft grew 32% in 2021, same as in 2020, to $140B, and 20% in the first nine months of 2022 — Companies are not going to let up spending despite weakening economy — Investors have grown accustomed to periodic leaps … | Mark Gurman / Bloomberg: |
Sources: Apple paused hiring in October for many jobs outside of R&D, including some corporate functions and standard hardware and software engineering roles — Apple Inc. has paused hiring for many jobs outside of research and development, an escalation of an existing plan … | 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) …
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Coinbase Global, Inc., Bloomberg, Cryptonews, CryptoPotato, Coinpedia Fintech News, PYMNTS.com, and Digiday
Tweets: @b1ockgreg, @juthica, @fintechfrank, @mrnllmtt, @coinbureau, @sbf_ftx, @sbf_ftx, @sbf_ftx, and @crypto
| 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.
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The Register
| The Verge: |
AMD unveils the RX 7900 XTX for $999 and the lower powered RX 7900 XT for $899, its first GPUs built on its RDNA 3 chiplet architecture, shipping on December 13 — AMD has announced its next generation of graphics cards, the RX 7900 XTX and RX 7900 XT, which are the first cards powered by its new architecture, RDNA 3.
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PCWorld, Thurrott, Appuals.com, Pocket-lint, and Wccftech
| Bill Toulas / BleepingComputer: |
Lookout: almost 50% of Android phones used by US state and local government staff run outdated versions of the OS, exposing them to hundreds of vulnerabilities — According to a new report, almost half of Android-based mobile phones used by U.S. state and local government employees … | Sun Yu / Financial Times: |
Sources: China's central bank struggles to get Tencent, Meituan, and others to share user data with state credit scoring companies before the December deadline — PBoC attempt to channel personal information through official credit-scoring companies meets opposition| Kif Leswing / CNBC: |
Block Q3: revenue up 17% YoY to $4.52B, vs. $4.49B est., gross profit up 38% YoY to $1.57B, vs. $1.53B est., and Cash App gross profit up 51% YoY; stock up 12%+ — - Block stock rose in extended trading after the payments company reported third-quarter earnings that beat Wall Street expectations for profit.
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Bloomberg and SiliconANGLE
| 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 — The most hyped words in tech today may be “generative AI.” The term describes artificially intelligent technology that can generate art …
Tweets: @citylab, @maryjofoley, @dinabass, @donasarkar, and @dairinstitute
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