Friday 29 April 2022

10 Things in Tech: Insta crypto scams

10 THINGS IN TECH

Happy Friday, readers! Today we're taking you inside scammers' latest social media trick, and showing you Snap's newest product: a selfie drone.

Let's get started.

If this was forwarded to you, sign up here. Download Insider's app – click here for iOS and here for Android.

1. Scammers are impersonating influencers to lure followers into shady crypto schemes. By creating accounts with an influencer's name, profile photo, and content – including pictures of their family and children – scammers trick fans into thinking they're engaging with a genuine account. Then the scammers set about swindling fans.

Insider spoke with eight creators that post about personal finance, investing, and crypto, who said the new trend has been rampant on YouTube and Instagram — and that neither platform has done much to stop it.
"Instagram really could do a better job at helping," one personal finance influencer said.
Some fake accounts have copied the influencer's page so accurately that it's hard to decipher which account is real, and creators said it was having a negative impact on their business, as well as their followers.

Inside social media's growing problem with crypto scams.

In other news:

2. The week of tech earnings continues. While Amazon posted its first quarterly loss since 2015, Apple reported one of the best quarters of its 46-year history.

3. Tech workers are scoring higher salaries by jumping companies. Four workers who took advantage of the "Great Resignation" explained how they doubled their salaries to up to $400,000 by switching firms. Read their advice on how to do it.

4. Elon Musk just won a lawsuit that accused him of bailing out his cousins' solar company. A judge ruled Musk did not act unlawfully when Tesla bought solar-panel company SolarCity — a big win for Musk, who would have been on the hook for more than $2 billion if he'd lost. Get the latest on the lawsuit.

5. Mark Zuckerberg said more workers leaving Facebook will "make us a better company." During a conference call with analysts, Zuckerberg acknowledged that more workers are leaving Facebook — but said it's not a bad thing. He also said he's "slowing the pace" of investment in new projects, including the metaverse.

6. Weight-loss app Noom is laying off hundreds of coaches. The company let go of 180 coaches on Thursday and plans to lay off 315 more over the next few days — totaling about 25% of its 2,000-person coaching staff. What we know so far.

7. We break down the real reason Bolt got sued by a big customer. Authentic Brands Group, which owns brands like Forever 21 and Reebok is suing Bolt — and is actually fighting for an ownership stake in the company. Behind the explosive lawsuit facing the checkout startup.

8. Twitter admitted to exaggerating users for years. In what could be its last earnings report as a public company, Twitter said it overcounted some users between 2019 and 2021, according to Axios. Here's the latest.

Odds and ends:

9. Snap just announced its mini flying drone. Per The Verge, the $230 drone, which is small and light enough to fit in a pocket, can follow its owner while shooting footage and then send the video back to Snapchat. See the mini drone, Pixy, here.

10. We compared electric SUVs from Kia and Hyundai. Insider's transportation reporter tested the Kia EV6 and Hyundai Ioniq 5, each of which costs about $40,000 — but he'd choose the Ioniq 5 in a heartbeat. Why it was the clear winner.

The latest people moves in tech:

Twitter's former security chief, Michael Coates, will be the CEO of a new security unit of Web3 platform CoinList.
Google Cloud vice president Oliver Parker will join Okta in May.
Cristina Cordova is First Round Capital's newest partner investing in seed stage companies.

Event invite: Join us on May 9 at 1 p.m. ET for a panel discussion on breaking into tech without experience and finally landing that six-figure salary. Register here.

Keep updated with the latest tech news throughout your day by checking out The Refresh from Insider, a dynamic audio news brief from the Insider newsroom. Listen here.

Curated by Jordan Parker Erb in New York. (Feedback or tips? Email jerb@insider.com or tweet @jordanparkererb.) Edited by Michael Cogley in London.

Thursday 28 April 2022

10 Things in Tech: Earnings week woes

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10 THINGS IN TECH

Hi there. Today we've got insight on why some Big Tech earnings fumbled, and a look at a really cute, really tiny car.

Let's dive in.

If this was forwarded to you, sign up here. Download Insider's app – click here for iOS and here for Android.

1. Apple was a key reason tech companies had a terrible quarter. Apple's major privacy changes continue to squeeze Big Tech, as evidenced by the earnings posted this week from top firms like Google, Snap, and Meta.

Snap CEO Evan Spiegel said the first quarter had been "more challenging than expected," and while Google was tipped to be more insulated from the changes than some of its competitors, even it couldn't escape the pain.
Meanwhile, Meta posted the slowest revenue growth it has had since it went public in 2012 — signaling the impact Apple's ad-tracking changes have had on its advertising business.
Meta had already blamed the privacy changes for a historically bad quarter earlier this year, and the company stands to lose $10 billion in 2022 as a result.

Get the full rundown here.

In other news:

2. We outlined every weird detail in Elon Musk's $44 billion Twitter deal. The terms, meant to ensure both parties commit to the agreement, stipulates that Musk can't insult the company, among other things. Here are some of the terms and conditions.

3. Robinhood's founders were "visibly shaken" while announcing layoffs. Though the meeting was "solemn," employees said the layoffs were hardly a surprise, and that it was clear the company hired too many people in the wake of the GameStop trading mania. Inside the Robinhood layoffs.

4. Amazon will not be fined for the warehouse collapse that killed six. Though OSHA did identify some risks in the warehouse, which was struck by a tornado, Amazon won't be issued any citations. What we know so far.

5. An NFT influencer shares how he turned $3,500 into millions. Tyler Stockfield, the 28-year-old behind the @NFTsAnonymous Twitter handle, was a burnt-out car salesman before discovering NFTs. He breaks down his meteoric rise, and gives his best advice for new traders.

6. Apple has opened its self-service repair store. The store sells manuals and parts for you to fix your own iPhone, if that's something you want to do. More on DIY iPhone fixes.

7. Twitter could wreck Elon Musk's empire. The wealthiest man in the world is betting the future of his businesses on Twitter, but columnist Linette Lopez writes that the move could end up costing him — and his other companies, like Tesla — in the long run. Read her full analysis.

8. PayPal is closing its San Francisco offices. TechCrunch reported the office, which hosted its Xoom business unit, is shuttering as the company "evaluates its global office footprint." Get the full rundown here.

Odds and ends:

9. Three wheels. One seat. So many smiles. Insider's transportation reporter test drove the Solo, ElectraMeccanica's single-passenger vehicle, and the $18,500 model drives competently, is more efficient than a typical car — and scores off the charts in smiles per mile. See the Solo minicar here.

10. PlayStation Plus will soon add a Netflix-style library of games and new features. In June, Sony will launch new tiered PlayStation Plus plans: Essential, Extra, and Premium. We explain each plan and what they include.

What we're watching today:

Twitter, Apple, Amazon, and others are reporting earnings today. Keep up with earnings here.
Netflix Is A Joke: The Festival starts today in Los Angeles.
SpaceX's Crew-4 mission is set to arrive at the International Space Station.
Activision Blizzard stockholders are scheduled to vote on a proposed merger with Microsoft.

Keep updated with the latest tech news throughout your day by checking out The Refresh from Insider, a dynamic audio news brief from the Insider newsroom. Listen here.

Curated by Jordan Parker Erb in New York. (Feedback or tips? Email jerb@insider.com or tweet @jordanparkererb.) Edited by Michael Cogley in London.

Wednesday 27 April 2022

10 Things in Tech: Amazon pay changes

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10 THINGS IN TECH

You're halfway through the week, readers. On today's agenda, we've got more Elon Musk news, a dash of Amazon compensation drama, and some fun electric vehicle stuff, as a treat.

Let's dive in.

If this was forwarded to you, sign up here. Download Insider's app – click here for iOS and here for Android.

1. Amazon employees have mixed feelings about their updated salaries. When Amazon announced a shift in its compensation plan in February, employees anticipated major salary bumps. But after receiving their updated pay stubs this month, many are expressing dashed hopes of substantially higher income.

Insider spoke with more than a dozen employees, and while some reported as high as 90% increase in total compensation, others said their raises fell short of expectations.
Record levels of inflation, combined with Amazon's notoriously frugal pay, has sent some employees searching for jobs at different companies.
"...you're seeing executives getting raises," one employee said. "But the very people from the warehouse level to the corporate side are not seeing a massive increase."

Here's what else employees told us.

In other news:

2. Ford is already planning an electric truck to follow the F-150 Lightning. Less than 24 hours after the company launched production of the first electric F-150s, Ford announced its newest plan to leapfrog Tesla as the top seller of EVs. Everything we know about the next electric pickup.

3. Elon Musk is beefing with Pete Buttigieg. Even though Musk was only able to buy Twitter because he's received billions in government handouts, the Tesla CEO is still going after the federal official who holds the greatest sway over his primary business. We explain the feud.

4. Robinhood is cutting hundreds of jobs. In a message posted to the company website, CEO Vlad Tenev announced the stock-trading company would be laying off 9% of its workforce. What we know so far.

5. San Franciscans describe going from homelessness to Big Tech jobs. While the tech industry — and the gentrification it brings — is often seen as a cause of homelessness, it's also become a way out, with nonprofits and tech companies partnering up to help people land high-paying jobs at firms like Apple, LinkedIn, and Twitter. Four people who completed the programs explained how it works.

6. Nike is hiring for tech roles. We broke down how much you can make in each one. With the retailer on the hunt for designers, data analysts, and engineers, we looked into the positions' salaries — many of which start in the six figures. Here's what you could make in each role.

7. Musk said he doesn't care about Twitter's economics. So how did he secure billions to buy the money-losing social media giant? Well, money begets more money: Bankers clamored for exposure to Musk and his other businesses — like Tesla and SpaceX — despite Twitter being a financial quagmire. Here's what they told us.

8. The week of Big Tech earnings continues. While Microsoft beat earnings expectations across the board, Google's parent company Alphabet posted slowing sales growth, with YouTube a particular miss.

Odds and ends:

9. Need attention? Buy the EV people can't take their eyes off of. The $53,000 Kia EV6 is a striking, sporty electric SUV whose biggest flaw is that people won't leave you alone. Get a look at the electric vehicle people can't help but gawk at.

10. This $350 bike desk has a cult TikTok following. An Insider reporter tested out Flexispot's stationary bike with a built-in desk, and found it was fairly easy to assemble, and that she's more productive while steadily pedaling away. Why she's recommending it to everyone she knows.

What we're watching today:

Meta, Spotify, PayPal, and others are reporting earnings today. Keep up with earnings here.
SaaS Connect starts today in San Francisco.
DeveloperWeek Europe starts today.
PyCon US 2022 starts today in Salt Lake City.

Keep updated with the latest tech news throughout your day by checking out The Refresh from Insider, a dynamic audio news brief from the Insider newsroom. Listen here.

Curated by Jordan Parker Erb in New York. (Feedback or tips? Email jerb@insider.com or tweet @jordanparkererb.) Edited by Shona Ghosh in London.

Tuesday 26 April 2022

10 Things in Tech: Twitter enters its Musk era

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10 THINGS IN TECH

Hello, friends. Investors, executives, and (basically) all Twitter aficionados are reacting to Elon Musk's purchase of the social media company, and many employees aren't thrilled.

Let's dive in.

If this was forwarded to you, sign up here. Download Insider's app – click here for iOS and here for Android.

1. It's official: Elon Musk is buying Twitter. After initially resisting Musk's takeover offer, the social media company has agreed to go private in a $44 billion deal that's expected to close in 2022. Here's what employees, investors, and others are saying:

The deal set the internet ablaze, with Binance, Mark Cuban, Andreessen Horowitz, and the Winklevoss twins all weighing in (many of whom tweeted their support for the social media giant's new owner).
Meanwhile, many employees aren't as thrilled. Some fear Musk's impulsive leadership style will have him forcing the company to act on "his hot takes" — and some are preparing for mass departures after the announcement.
"It's all about Elon," one employee said. "There will be some sort of exodus event from those who do not approve of him." Here's what we learned from an all-hands meeting yesterday.

Everything else employees told us.

In other news:

2. We explored the hottest virtual worlds to find out what the metaverse is all about. We immersed ourselves in seven popular metaverses so we could bring you the good, the bad, and the ugly of each newfangled world. Dive into Insider's Guide to the Metaverse.

3. War was the last thing on her mind. Now a Ukrainian startup founder is running her business from bomb shelters. Before Russia invaded Ukraine, 29-year-old Alyona Mysko was on the verge of taking Fuelfinance global. But since the war started, she's had to flee her home and figure out how to work from shelters. She explains how she's made it work.

4. People are using Tinder to sell insurance policies. In an online world where the boundaries are increasingly blurred, Tinder users say they've run into people trying to grow their client bases instead of going on dates. More on the dating app's blurry boundaries.

5. A former Google recruiter shares how to land a job. Having worked with the company for five years, Jeff Sipe has a good idea of how to break in — including connecting with current employees and uploading a profile picture on your LinkedIn. Read his biggest job-hunting dos and don'ts.

6. SpaceX Starlink will work with a major airline to offer in-flight Wi-Fi. Hawaiian Airlines, in partnership with Elon Musk's internet service, will offer free Starlink internet onboard starting in 2023. Here's what you need to know.

7. There's a new CRO in town: the chief recruiting officer. This year, the software firm Gem hired early Facebook employee Richard Cho to lead recruiting, an uncommon move among startups. Here, Cho explains why companies need a chief recruiting officer.

8. A hacker stole $1 million worth of Bored Ape Yacht Club NFTs. The thief compromised the project's official Instagram account, and using a phishing link, swindled users out of their expensive NFTs. The Verge has the latest.

Odds and ends:

9. Chevrolet just confirmed an all-electric Corvette is on the way. The fully electric sports car will follow a hybrid Chevrolet Corvette that's slated to debut in the next year, the company said. Watch a video of a prototype Corvette here.

10. Facebook is opening its first-ever physical retail location. Dubbed the Meta Store, the brick-and-mortar location is designed to drum up interest in VR headsets and the metaverse, and will open near San Francisco next month. Get a sneak peek at the Meta Store.

What we're watching today:

Alphabet, Microsoft, and others are reporting earnings today. Keep up with earnings here.
GamesBeat Summit starts today.
The Financial Times' Crypto and Digital Assets Summit starts today.

Keep updated with the latest tech news throughout your day by checking out The Refresh from Insider, a dynamic audio news brief from the Insider newsroom. Listen here.

Curated by Jordan Parker Erb in New York. (Feedback or tips? Email jerb@insider.com or tweet @jordanparkererb.) Edited by Michael Cogley in London.