Techmeme
November 4, 2022, 5:40 AM

Top News

Faiz Siddiqui / Washington Post:
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 …
Josh Eidelson / Bloomberg:
Twitter workers file a class-action lawsuit against the company in San Francisco for mounting 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 …
Will Oremus / Washington Post:
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.
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.
Wall Street Journal:
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

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