Twitter laid off dozens of employees, including senior leaders, across the engineering and product divisions on Saturday night, in one of the largest rounds of cuts since Elon Musk took over the company last October. The extent of the cuts suggest that Musk has failed to reverse the steep decline in revenue that has occurred since his takeover. Advertisers have left the platform in droves...
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The TikTok Investors With the Most to Lose From a U.S. Ban
For venture investors that have collectively invested more than $8 billion in TikTok’s parent company, ByteDance, the fate of the video app in the U.S., where officials are seeking changes to its ownership, could mean the difference between a huge portfolio win and a soul-crushing loss. Early backers of ByteDance such as Susquehanna International Group and Sequoia Capital’s China...
FTX Sues Liquidators of Bahamas Unit
Flagstar Acquires Most of Signature Bank, Excluding Crypto Business
Amazon Laying Off 9,000 More Employees, Including in AWS, Ads, Twitch
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On a cosmic level, the collapse of Silicon Valley Bank was a mere blip. The murmurs about trouble began last Wednesday, the panic spread via group texts and Twitter threads on Thursday, the bank went under on Friday, the government got its act together on Saturday, and on Sunday every current and former customer of SVB could breathe a cautious sigh of relief.