MasterClass, a startup that sells $180 annual subscriptions for users to access virtual classes taught by celebrities, has laid off 20%, or around 120, of its 600 employees. “I made the really hard decision to reduce our team by 20% to adapt to the worsening macro environment and get to self sustainability faster,” its CEO David Rogier wrote in a tweet on Wednesday. Employees who were...
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Silicon Valley’s Realtors, Like Its Bankers, Are Having a Tough Month
In early March, Ken DeLeon, founder of DeLeon Realty, a Silicon Valley–based brokerage that sold more than $1 billion in homes in 2021, called one of his venture capitalist clients to discuss the purchase of a $20 million–plus megamansion. The client was flip-flopping between a cash offer and a loan. “First Republic Bank has a 10-year loan at 4.65%,” DeLeon informed...
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Heated Reaction in China to TikTok CEO’s U.S. Testimony
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