10 Things in Tech: Twilight of the tech gods

Today's top news and analysis.

View in browser Subscribe 10 THINGS IN TECH Welcome back from the long weekend. Silicon Valley's biggest luminaries are in for a rude awakening — we explain it all below. Let's dive in. New newsletter alert: Our weekday newsletter 10 Things on Wall Street will take you inside the finance industry, from the latest in banking and fintech to the power players leading the biggest deals on the Street, Silicon Valley, and elsewhere. Launching soon — sign up here. If this was forwarded to you, sign up here. Download Insider's app – click here for iOS and here for Android. 1. Silicon Valley's tech titans are in serious trouble. Tech founders have cultivated reputations as geniuses. But as stocks tank and layoffs take hold, many are watching their empires crumble — and within a few years, some of the hottest innovations will simply disappear. This isn't the first time we've seen a tech bubble expand and burst. But what makes this time so different is the scale of the destruction it will leave behind. According to Jim Chanos, founder of short-selling firm Kynikos Associates, the companies that could crumble this time are even bigger — and they make up a bigger slice of the economy. "Our typical short in early 2000 was a $2 billion to $3 billion company that was going away," Chanos said. "This go-round it's a $20 billion to $30 billion company. That's why we call this the dot-com era on steroids." Why "lots of companies are going to get vaporized." In other news: 2. Microsoft is slowing down hiring. The company is the most recent tech giant to slow recruitment efforts, scaling back hiring for its Windows, Office, and Teams divisions. Here's the latest. 3. Salesforce reports earnings today — and they could predict just how hard the downturn will affect the industry. Wall Street's eyes are on the company, with investors seeing it as a bellwether for how much customers are willing to spend on cloud. Everything you need to know ahead of Salesforce's earnings. 4. Elizabeth Holmes wants a judge to overturn her convictions on wire fraud charges. Court documents show the Theranos founder's lawyer arguing that there is "insufficient evidence" for any "rational juror" to proceed with the conviction. Get the full rundown here. 5. Gopuff put 22 warehouses on the chopping block. The fast-delivery sector is suffering a brutal post-pandemic slump, and nearly two dozen Gopuff warehouses across the United States are the latest casualties. What we know so far. 6. A researcher says her avatar was sexually assaulted in the metaverse. The encounter took place in Meta's social-networking platform Horizon World, making her the latest victim of sexual abuse on Meta's platforms, a watchdog group said in a new report. Here's what else the report says. 7. Cloud computing's favorite business model is starting to look like a huge risk. As markets sour, the popular pay-as-you-go model for cloud computing has become a massive liability. Why experts say it may be dicey for companies relying on it. 8. The SEC asks Elon Musk to explain the delay in disclosing his stake in Twitter. It comes amid speculation that the Tesla CEO was attempting to manipulate the market. Over the weekend, the internet was trying to decipher the meaning behind Musk's cryptic Tweets, particularly this one cartoon.  Odds and ends: 9. Amazon just opened its first brick-and-mortar clothing store. Making use of touchscreens and QR codes, the store allows customers to do things like request different styles and sizes without leaving the fitting room. Get a look inside Amazon Style. 10. Lonely? Might we suggest a companion robot? To help combat feelings of isolation in older adults, New York state officials are giving out the so-called companion robots to more than 800 senior citizens. See how the devices work. What we're watching today: HP, Salesforce, and others are reporting earnings. Keep up with earnings here. Starting today, Airbnb will have a new COVID-19 extenuating circumstances policy. Craft Conference 2022 workshops start today. Asia Tech x Singapore, Asia's flagship tech event, is taking place through June 3.  The International Conference on Cyber Conflict begins today in Estonia. 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 Hallam Bullock (tweet @hallam_bullock) in London. Email sent to: geefunk007.bond1@blogger.com Manage your email preferences  |  Unsubscribe  |  Terms of Service  |  Privacy Policy © 2022 Insider Inc. 1 Liberty Plaza, New York, NY 10006

10 Things in Tech: 'Zoomtowns' face catastrophe

Today's top news and analysis.

View in browser Subscribe 10 THINGS IN TECH Happy Friday, readers! Today we are taking a look at the challenges facing America's new "Zoomtowns," and one veteran reviewer reveals their favorite home tech gadgets. Now, let's get started. Programming note: There will be no newsletter on Monday, as we're off for Memorial Day. See you Tuesday. New newsletter alert: Our weekday newsletter 10 Things on Wall Street will take you inside the finance industry, from the latest in banking and fintech to the power players leading the biggest deals on the Street, Silicon Valley, and elsewhere. Launching soon — sign up here. If this was forwarded to you, sign up here. Download Insider's app – click here for iOS and here for Android. 1. America's new "Zoomtowns" are facing a remote-work catastrophe. The rise of remote work — accompanied by a hot housing market — has caused a mass migration to rural areas across America. Now, many long-time locals are feeling the squeeze from the stream of newcomers.  Rural and semirural communities are struggling to keep pace with population growth they didn't plan for. As remote workers are priced out of the cities and suburbs, many areas need to increase available housing to meet demand.  Some experts refer to the inequality-driving demographic shift as "rural gentrification," as small towns face big-city problems they don't have the resources to manage.  Many locals have been driven into tent cities and homeless shelters by rising rent and house prices, as America's Zoomtowns find themselves on the edge of catastrophe.  Read the full report here.  In other news: 2. Mark Zuckerberg says the metaverse will bleed money for up to five years. As per Bloomberg, Zuckerberg told shareholders that some products wouldn't be ready for 15 years, despite spending $10 billion on the metaverse in 2021 alone. Here's everything he said. 3. US tech companies are "underwater" on equity granted to workers. Big tech companies, known for paying employees well with a combination of salary and stock, are left in a precarious situation after their share prices plummeted. Check out which tech companies are in the biggest hole. 4. Elon Musk is being sued by a Twitter shareholder. The proposed class-action suit alleges that Musk manipulated the value of the social media company via his tweets about the takeover being on hold, which hurt investors and employees.  5. YouTubers break down how much they make per month. From 5,000 subscribers to 500,000, the amount YouTube creators make per month can range from a few hundred dollars to tens of thousands. Here's how much they earn. 6. Tesla is planning a wild Supercharger station in Hollywood. As per Bloomberg, Tesla has submitted plans with the city of Los Angeles to build a Supercharger station, complete with a restaurant and drive-in theater. Here's what the plans look like. 7. Salesforce is navigating stormy seas. Salesforce's venture-capital arm has invested in some of the biggest names in cloud software — including Zoom, DocuSign, and Box. But as cloud-software valuations have fallen, the value of Salesforce's investments has dropped. As a result, the company has had to cut costs and slow hiring. 8. Sequoia's Pat Grady explains why the market downturn is a golden opportunity for tech investors. As other firms pulled back, Sequoia has kept its typical investing pace. Grady explains what other investors and doing wrong, and what Sequoia is doing right.  Odds and ends: 9. Veteran smart home reviewer reveals the products they use daily. From smart locks and high-tech cameras, to connected pet feeders and sophisticated light switches, these are their favourite gadgets.  10. Ever had the Spam Risk message appear on your phone? Then you've likely had a scammer, spammer, or telemarketer try and contact you. Here's why the message appears on your phone, and what you should do when it does. People moves in tech: Technology and business editor John Paczkowski is leaving BuzzFeed News to join Forbes. Glossier CEO Emily Weiss has stepped down. Marty Swant, editor of the Forbes CMO Network, has left to join another publication. Global Payments appoints tech industry veteran Masseh Haidary as CEO payments Oceania. Michael Mestrovich, a former CIA CISO, joins Rubrik as chief information security officer. Okta picks Philip Goldie as ANZ vice president. 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 Hallam Bullock in London (Feedback or tips? Email hbullock@insider.com or tweet @hallam_bullock.) ADVERTISEMENT Where to invest to earn digital trust— today and tomorrow. Digital trust is a critical and complex issue for organizations worldwide. Deloitte's latest research identifies four emerging technologies to help improve digital trust. Read more to begin the journey to earning digital trust Email sent to: geefunk007.bond1@blogger.com Manage your email preferences  |  Unsubscribe  |  Terms of Service  |  Privacy Policy © 2022 Insider Inc. 1 Liberty Plaza, New York, NY 10006

10 Things in Tech: Microsoft exec misconduct

Today's top news and analysis.

View in browser Subscribe 10 THINGS IN TECH Good morning. Today we have a new report on what Microsoft employees are saying about executive misconduct. Let's get to it. New newsletter alert: Our weekday newsletter 10 Things on Wall Street will take you inside the finance industry, from the latest in banking and fintech to the power players leading the biggest deals on the Street, Silicon Valley, and elsewhere. Launching soon — sign up here. If this was forwarded to you, sign up here. Download Insider's app – click here for iOS and here for Android. 1. Microsoft employees say 'golden boy' executives are still running wild. When CEO Satya Nadella took charge, he vowed to implement a respectful, diverse, and inclusive work environment — bringing an end to Microsoft's tolerance for "talented jerks." But dozens of current and former employees told Insider that executive misconduct remains rampant. One employee recalled how a high-ranking executive tested out a virtual-reality headset — by playing "VR porn" to a room of staff.   According to the workers, this behavior is just part of a widespread pattern of executive misconduct, which they say includes verbal abuse and sexual harassment.  A former executive who raised similar concerns said Nadella's approach was: What's something we can do to make it go away without making hard decisions? But this behavior has lasted years, sources say, with top execs enjoying impunity dating back to the reigns of Bill Gates and Steve Ballmer.  Read the full report here. In other news: 2. Apple is raising base pay for retail workers. According to a memo viewed by CNBC and The Wall Street Journal, Apple is increasing base pay for retail employees from $20 to $22 an hour. It comes after Apple's retail employees recently pushed to unionize. Here's what we know. 3. An inside look at the life of Silicon Valley private chefs. Lamborghinis, California mansions, private jets — that doesn't sound so bad, right? Michelin-starred restaurant chefs have revealed what life is like catering to the rich and powerful, and why it isn't always as glamorous as it seems. 4. How to attract investment in a market slump. The current economic downturn has many founders fearing that investors will have a shortage of capital. However, VCs are always on the hunt for promising startups. Two top VCs outlined four key things to secure investments. 5. How media brands make TikTok stars. As well as teens and the latest trends, TikTok is also now home to fully-fledged businesses. Publishers like The Washington Post and Lionsgate are turning to TikTok to reach new audiences. Here's how they are launching their employees into stardom. 6. Elon Musk is funding his $44 billion Twitter buyout with his own wealth. As per the Wall Street Journal, Musk is also seeking other financial backers, including former Twitter CEO Jack Dorsey. Here's the latest. 7. Snap has an adorable new selfie drone. In what has been a tough week for Snap — in which CEO Evan Spiegel's growth warning impacted the entire industry — you likely missed the other, more light-hearted news. Reviewers at WIRED have got their hands on Snap's new self-flying selfie drone. 8. Robots could one day be doing your household chores. Dyson plans to hire 250 engineers and 700 additional robotics workers over the next five years, as part of a push to develop robots capable of completing household chores. Here's everything we know about the company's secret robotic prototypes. Odds and ends: 9. A Boston-based startup is shaping the future of EVs. Part-plane, part-boat, the electric seaglider is capable of flying at 180 mph and will carry passengers across coastal cities. Hawaiian Airlines has already invested in this futuristic vehicle, here's everything we know about it.  10. Snapchat creators reveal how they make money on the platform. Some users have earned well over $1 million posting videos on the company's Spotlight section, but only because they know how to take advantage of it. These four creators have revealed their tips and tricks for making money on Snapchat.  What we're watching today: Alibaba, Costco, and others are reporting earnings. Keep up with earnings here.  The World Economic Forum concludes in Davos today.  The WIRED Health Conference is due to get underway.  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 Hallam Bullock in London (Feedback or tips? Email hbullock@insider.com or tweet @hallam_bullock.) ADVERTISEMENT Where to invest to earn digital trust— today and tomorrow. Digital trust is a critical and complex issue for organizations worldwide. Deloitte's latest research identifies four emerging technologies to help improve digital trust. Read more to begin the journey to earning digital trust Email sent to: geefunk007.bond1@blogger.com Manage your email preferences  |  Unsubscribe  |  Terms of Service  |  Privacy Policy © 2022 Insider Inc. 1 Liberty Plaza, New York, NY 10006

10 Things in Tech: Why workers are leaving Amazon

Today's top news and analysis.

View in browser Subscribe 10 THINGS IN TECH Happy Wednesday, folks! Today we are looking at leaked documents that show Amazon employees are quitting at twice the rate of recent years, and revealing why EVs cost less to run than gas cars.  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. Leaked documents show Amazon employees are quitting at twice the rate of recent years. Low pay, a stagnant stock price, and a grueling work culture are largely cited as fueling the exodus, but increased competition also makes it easier for the most prized corporate workers to find better opportunities.  Amazon's "regretted attrition" — the portion of employees the company doesn't want to leave — has reached an average of 12.1% since June 2021, double the average in recent years.  The ecommerce giant is on track to spend a record amount on employee stock grants, in a bid to address pay concerns and retain key staff.  According to internal documents, Amazon's Delivery Service Partner team, which manages the company's third-party delivery contractors, saw a 55% total attrition rate last year. Read the full report here. In other news: 2. Have you been with your current employer for more than a year? Then you're probably underpaid. The "Great Resignation" has forced many tech companies to dole out huge paychecks to lure new candidates to roles — meaning long-time workers are paying a big price for their loyalty. You can see how much new hires are being paid in different roles here.  3. Leaked Netflix survey reveals how the streamer is thinking about including ads. Netflix has started outlining advertising plans to senior ad industry executives, as part of a push to deliver a less interruptive experience for viewers than rivals.  The leaked survey could shape the future of ads on the platform, here's what's in it.  4. Why electric cars cost less to own than gas cars. The price tag of an EV can certainly scare a lot of people away from going electric. However, new research shows once you factor in just a few benefits  — like fuel costs — EV's are more economical than their gas counterparts. Here's why EVs cost less to own each month than gas cars. 5. We've ranked the 16 best-paid executives in adtech. A slew of adtech companies went public last year — rewarding their top executives with stock, performance-based equity awards, and bonuses on the way. If you thought a pay package of $10 million would land you near the top, think again. These are the 16 best-paid executives in adtech.  6. Lyft joins Uber in slowing hiring. As per the Wall Street Journal, Lyft will scale back on hiring and reduce spending budgets, but is stopping short of layoffs. In an internal memo, Lyft's president cited a "slower than expected recovery" and a "need to accelerate leverage in the business." Here's what we know about the slowdown. 7. Investors and VCs predict which ultrafast-delivery startups will survive — and which won't. Rapid-delivery startups thrived in the US a year ago, but now just four main players remain. Amid a tumultuous market, here's which ones investors think have what it takes to succeed.  8. Snap's sudden warning shows a major consumer pullback is hitting digital advertising budgets. Just over a month ago, Snap's business was expanding at 30% or more. But yesterday, Snap's CEO wrote a memo to staff saying: "The macro environment has deteriorated further and faster than we anticipated." Here's why growth suddenly collapsed at Snap, and why rivals won't be spared from the carnage. Odds and ends: 9. Best early Memorial day tech device sales. The Holiday offers some of the year's best savings on tech, including TVs, photography equipment, streaming services, tablets and earbuds. Take a look at the best deals on offer this Memorial Day. 10. Google Maps' Street View is getting some big upgrades to celebrate its 15th anniversary. One new feature coming to its mobile app is the ability to display historical Street view imagery on your phone. Check out what else is coming.  What we're watching today: NVIDIA, Amerco, and others are reporting earnings. Keep up with earnings here. Twitter's annual shareholder meet is set to happen today. SpaceX is targeting this afternoon for a Falcon 9 rocket launch, carrying a Transporter-5 rideshare mission.  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 Hallam Bullock in London (Feedback or tips? Email hbullock@insider.com or tweet @hallam_bullock.) ADVERTISEMENT Where to invest to earn digital trust— today and tomorrow. Digital trust is a critical and complex issue for organizations worldwide. Deloitte's latest research identifies four emerging technologies to help improve digital trust. Read more to begin the journey to earning digital trust Email sent to: geefunk007.bond1@blogger.com Manage your email preferences  |  Unsubscribe  |  Terms of Service  |  Privacy Policy © 2022 Insider Inc. 1 Liberty Plaza, New York, NY 10006