November 10, 2022, 6:45 PM

Top News

Sam Bankman-Fried / @sbf_ftx:
Wall Street Journal:
Source: SBF told investors that Alameda owes FTX ~$10B and FTX extended loans to Alameda using customer funds, describing the decision as a poor judgment call  —  FTX Chief Executive Sam Bankman-Fried told an investor this week that Alameda owes FTX about $10 billion
Nikhilesh De / CoinDesk:
Sources detail FTX's rise and fall: Changpeng Zhao's ~$100M investment in 2019, the souring Binance relationship, Alameda's series of losses in 2022, and more  —  On Tuesday morning, Sam Bankman-Fried, owner of cryptocurrency exchange FTX, caught his employees off-guard with a somber message.
Dan Primack / Axios:
Alex Heath / The Verge:
Sources: Twitter's chief privacy officer, CISO, and chief compliance officer have resigned; legal now asks engineers to “self-certify” compliance with FTC rules  —  Twitter's privacy and security teams are in turmoil after Elon Musk's changes to the service bypassed its standard data governance processes.
Washington Post:
Twitter employees are concerned by the rapid rollout of features without the security reviews required by the FTC's consent decree reached with Twitter in May  —  Yoel Roth had become the public face of Twitter's efforts to reassure users and advertisers the service would not become a ‘free-for-all’
Source: Twitter's head of Trust & Safety Yoel Roth and head of ad sales Robin Wheeler resigned on November 10  —  Elon Musk, in his first address to Twitter Inc. employees since purchasing the company for $44 billion, said that bankruptcy was a possibility, according to a person familiar with the matter.
Sara Fischer / @sarafischer:
Erin Woo / The Information:
Sources: at an all-hands, Elon Musk told staff that Twitter may have a “net negative cash flow” of billions in 2023 and “bankruptcy is not out of the question”  —  Elon Musk told Twitter employees on Thursday the company may have a “net negative cash flow of several billion dollars” …
Kurt Wagner / Bloomberg:
In his first email to Twitter staff, Elon Musk warns of “difficult times ahead” and bans remote work, saying employees must be in the office 40+ hours per week  —  New Twitter Inc. owner Elon Musk emailed his workers for the first time late Wednesday to prepare them for …
Kif Leswing / CNBC:
Apple plans to launch Emergency SOS with Satellite in November and pay $450M to US companies enabling the texting feature, with the majority going to Globalstar  —  - Apple said Thursday that it will spend $450 million with U.S. companies including Globalstar to enable its new emergency satellite texting feature.
Wall Street Journal:
Sources: Amazon started a monthslong cost-cutting review of its unprofitable businesses, like its devices unit, which had a $5B+ operating loss in recent years  —  Review takes a close look at devices unit, which includes Alexa and has had an annual operating loss of $5 billion in some recent years, documents show
Kyle Wiggers / TechCrunch:
Taylor Hatmaker / TechCrunch:

Sponsor Posts
Free compensation benchmarking data from 3,000 startups  —  Search by job title and get FREE access to market pay data.  Paid version helps HR teams automate comp reviews and communicate total compensation to employees.
LLMs can label data as well as humans, but 100x faster  —  Looking to clean, label or enrich your data, but taking too much time?  Just describe your problem to our LLMs and let them do the work for you in minutes.
Give your startup an advantage with Mercury Raise  —  Building a successful company takes more than an idea — it takes the right connections, network, and guidance.  Mercury Raise gives you all three.
Supercharge your CRM experience with Bigin on iOS 17 and iPadOS 17  —  It's Apple season again!  After Craig Federighi underscored “breakthrough experiences” during WWDC23, the creative minds at Bigin sprang into action.
Techmeme Ride Home:
(Portfolio Profile) Play
The day's tech news, every day at 5pm ET. Fifteen minutes and you're up to date.
Subscribe via Apple Podcasts, Spotify, or RSS.

About This Page

This is a Techmeme archive page. It shows how the site appeared at 6:45 PM ET, November 10, 2022.

The most current version of the site as always is available at our home page. To view an earlier snapshot click here and then modify the date indicated.

More News

Earlier Picks

Mark Gurman / Bloomberg: