Ride hailing firm Lyft said Wednesday it plans to lay off 17% of its 5,700 employees, or nearly 1,000 people. The San Francisco based company, hit hard by Covid-19 related shutdowns, also will furlough 288 employees. For the next three months, Lyft will reduce executive pay by 20% to 30% and 10% for remaining staff. The related restructuring costs will be between $28 million and $36 million....
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As Hollywood Shines Its Klieg Lights on Silicon Valley, a New Tech Scandal Arises
Hi, welcome to your Weekend!The Valley is small and memories are long. I’ve heard countless versions of that old venture capital saw. And true enough, it sometimes seems like Silicon Valley is one clubby, insular, gossip-addled village. That’s why it can feel so disorienting when the outside world gets interested in Valley business. As TI Weekend staffer Josh Duboff writes this week, ...
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