Meta lays off thousands, FTX collapses, Twitter is having a very strange week

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A week went by on Twitter so weird that he could have easily configured this newsletter, so we’ll stick with the following points:

  • Last week, Elon laid off a large part of the company. This week, some of those who have been released have been asked to return.
  • Twitter has started giving verified blue check marks to anyone who pays $8. Things quickly got messy.
  • Twitter rolled out a new version, secondly Checkmark for “Official” accounts. Then get rid of them. And then… you brought them back?
  • By Friday morning, after fake “verified” accounts surfaced for everything from companies to athletes to politicians, Twitter paused the $8 verification badge program.
  • A number of execs quit – to the point where the execs raised the ears of the FTC.
  • Elon reportedly told Twitter employees so “Bankruptcy is out of the question” for the sake of the company.

FTX collapsesOnce one of the largest cryptocurrency exchanges in the world, FTX has effectively exploded this week. It briefly appeared that rival Binance would step in to acquire FTX, only for Binance to take one look at FTX’s notebooks and back off almost immediately. FTX founder Sam Bankman Fred has since resigned, and the company has filed for bankruptcy.

layoffs dead: Meta – the parent company behind Facebook, Instagram and Whatsapp – laid off 13% of its workforce this week. With a worldwide staff of around 87,000, this is more than that eleven thousand Cut roles.

Gmail won’t let you go back to your old Gmail anymoreDon’t like the new look that the Gmail app started rolling out back in July? Bad News. While users were previously able to revert to the old design, this week the Gmail team announced that the new design will be the “standard experience” for everyone in a matter of weeks.

Google finds exploits in Samsung phones“Google says it has evidence that a commercial surveillance systems vendor was exploiting three zero-day vulnerabilities found in Samsung’s latest smartphones,” wrote Zach Whitaker. “Serial vulnerabilities allow an attacker to gain read-write privileges of the kernel as root, and ultimately expose device data.”

audio report

Looking for a new podcast that you can listen to on the go? Here’s what happened on the TC podcasts recently:

  • The chain reaction The crew dismantled the ridiculous breakdown of FTX as it was going on.
  • the financial value (With a guest appearance from TC’s Becca Szkutak) She covered the endless layoffs we’re seeing from tech companies big and small, and what the collapse of FTX means for them and companies like them.
  • Daryl Join in TechCrunch Podcast By Dom Madhuri Davis, TC’s Senior Correspondent to talk about the “Coalition of Venture Capital Firms Defending Reproductive Rights” and to summarize the biggest tech stories of the week.

Tech Crunch +

Not a TechCrunch+ member yet? Here’s what members have been checking out most behind the paywall:

How ButcherBox Raised $600 Million in Profits: How did ButcherBox grow from a humble Kickstarter to $600 million in revenue in just a few years? Hajj sets the course for the company so far.

exchange: In his increasingly popular daily newsletter, Alex Wilhelm asks: Has everyone been evaluating software companies the wrong way all along?


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