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For Meta’s Next CFO Susan Li, Metaverse Dreams Mean Real-World Challenges
By Sylvia Varnham O'Regan · Aug. 9, 2022 6:05 AM PDT
Photo by Alaska Air Group.
When Meta Platforms reported its first-ever quarterly revenue decline last month, the Facebook parent company also made a key promotion with little fanfare: 36-year-old finance executive Susan Li would become chief financial officer in the fall, replacing longtime CFO Dave Wehner, who held the role for eight years and would transition to a strategy role. It marked the latest step in Li’s...
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Snap Is Planning to Lay Off Employees
By Kaya Yurieff · Aug. 9, 2022
Galaxy Digital Quarterly Losses Triple
By Akash Pasricha · Aug. 8, 2022
Palantir Plunges 14% After Scaling Back its Annual Forecast
By Akash Pasricha · Aug. 8, 2022
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Data Point Google Facebook
Why Mark Zuckerberg and Sundar Pichai Are Worried About Productivity
By Stephen Council
Executives at Facebook parent Meta Platforms and Google parent Alphabet are feeling the pressure, so they’re giving employees a kick in the pants.
Art by Mike Sullivan
Opinion Startups Economy
Don’t Blame Tech Workers for Silicon Valley’s Bloated Head Counts
By Ed Zitron
A frustrated Mark Zuckerberg paused during his weekly Q&A with Meta Platforms employees. He’d just gotten through warning everyone about the punishing downturn he saw coming , and the first question he got—one that, to be fair, had been pre-recorded—asked whether Meta Days, the extra time off given to workers during the pandemic, would continue in 2023.
Photos by Bloomberg. Art by Mike Sullivan
Exclusive Venture Capital Startups
Elon Musk’s No. 2 at SpaceX Does Damage Control
By Becky Peterson
For years, many investors and employees at Space Exploration Technologies have regarded the company’s No.2 executive, Gwynne Shotwell, as the adult in the room at the boundary-pushing rocket company founded by Elon Musk.
Art by Clark Miller
The Big Read
‘He’s Making Up a World He Wants to Attack’: How Vivek Ramaswamy Became a Right-Wing Culture Warrior
By Michelle Celarier
Riley Moore had never met the man seated next to him. The state treasurer of West Virginia, Moore had come to a conservative retreat in the state’s storied Greenbrier resort in May 2021 to talk about a letter he and 14 other Republican state treasurers had just written to the Biden administration’s climate envoy, John Kerry.
Illustration by Jesus Escudero.
Exclusive Venture Capital Startups
Debt Is Back for Startups Shut Out of IPO Market
By Maria Heeter
Tech startups that had been eager to go public this year have been forced to put those plans on ice amid the market meltdown.
Kat Manalac of Y Combinator speaks during Startupfest in 2019. Photo by Bloomberg
Exclusive Venture Capital Startups
Y Combinator Slashes Startup Accelerator Class Size by 40%
By Kate Clark
Y Combinator has cut the number of startups it is funding and training this summer by about half compared to its winter program, a spokesperson confirmed.