Monday 31 October 2022

Tech: Musk preps ‘aggressive’ cuts

10 THINGS IN TECH

Happy Halloween, readers. Bright-eyed and bushy-tailed after a week away, I'm your host, Jordan Parker Erb. Thank you to Avery Hartmans for taking over while I was gone!

In keeping with today's holiday, we're talking about something spooky: what's going on inside Twitter. For starters, questions are swirling over who's leading the company as CEO — apparently even Elon Musk isn't sure — and why people are being asked to print out code.

And that's not to mention that employees are preparing for layoffs after Twitter leaders and VPs made lists of who to keep.

Let's get started.

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1. Twitter employees expect layoffs to begin very soon. Late Friday, Twitter team leaders and VPs began stack ranking employees. By Saturday afternoon, they handed Elon Musk lists of employees "to keep," two people said.

The process began on Musk's first official day as Twitter's owner, a day that left employees confused and unsure of their fate. Plus, there was confusion over who's actually running the company: Despite listing himself as CEO on internal company profiles, Musk said he has "no idea who the CEO is."
Meanwhile, several Twitter engineering teams met with Tesla engineers in meetings aimed at identifying "top" performers and "who to cut, who to keep and what orgs are bad," one person said.
There is no exact percentage of employees to be cut, this person added, but layoffs are expected to be "aggressive" — and workers expect them to begin soon. That's why many engineers and vice presidents worked through the weekend to try and keep their jobs, in an atmosphere likened to the "Hunger Games."

As Musk prepares "aggressive" cuts, who will be spared?

In other news:

2. Tech companies like Amazon and Meta are in for a tough few months. After tech stocks were slammed amid dismal earnings reports, analysts are saying there are choppy waters ahead — and only some firms are prepared.

3. Amazon slashed another division in an attempt to cut costs. On Friday, the company fired half of its Amp live radio division, notifying roughly 150 people they would need to take severance or find new jobs internally. What we know about the cuts.

4. Elon Musk fired Twitter execs "for cause" in a bid to avoid paying out tens of millions in severance. According to The Information, Musk dismissed the executives, including CEO Parag Agrawal, to try to avoid payouts and unvested stock awards, suggesting he had justification for their termination. A look at what that means.

5. VCs are looking for alternatives to traditional social networks. For the first time in years, Facebook, Instagram, and Twitter are "weak" — and investors told Insider they're eager to back the next big platform and take on existing giants. Here's what VCs are looking for.

6. Mark Zuckerberg wants to do what Google did with Android — but he learned all the wrong lessons. Similar to Google, Zuckerberg's Meta is trying to wrangle control away from Apple, but experts say the project seems to miss one key ingredient that made Android a success: consumer demand. Why analysts are skeptical Meta can pull it off.

7. Meet a woman who quit her full-time tech job to become a creator and voice actor. After four years of working for Instagram's marketing team, Joy Ofodu left to pursue voice acting and content creation. She explains how she grew her following, and what she's learned.

8. These billionaires have seen their net worths drop the most this year. Among this year's biggest losers are those who've invested heavily in the metaverse (Meta CEO Mark Zuckerberg) and crypto (Binance CEO Changpeng Zhao). Here's who else has had their net worth battered this year.

Odds and ends:

9. Airbnb awarded 100 recipients $100,000 each to design out-of-this-world properties. The selected winners were given the funding to bring their ideas to life. From a ghost town gondola and acorn treehouse to a salt cave and Koi fish dome-house, check out 25 of the designs that won the coveted grant.

10. New titles are coming to Netflix. While some popular films are leaving the platform in November, new seasons of "Dead to Me" and "The Crown" will be added, as well as season five of "The Great British Baking Show: Holidays." See everything coming to — and leaving — Netflix in November.

What we're watching today:

The Bipartisan Policy Center is hosting a discussion on mergers and acquisitions in the tech sector at 11 a.m. ET.
NFT San Francisco concludes today.
NXP Semiconductors and others are reporting earnings today. Keep up with earnings 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 Hallam Bullock (tweet @hallam_bullock) in London.

Friday 28 October 2022

Tech: How an Amazon warehouse job cured burnout

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10 THINGS IN TECH

Happy Friday! It's been a wild week in tech, made even more wild by Elon Musk's Twitter deal closing last night.

Before we get into it, I wanted to say thanks for reading with me this week! Your regular host, Jordan Parker Erb, returns on Monday.

We've got a ton of news this morning, including an account from a longtime tech exec who took a job at an Amazon fulfillment center to help cure his burnout. He says the role's rigid structure and intense physical demands helped pull him out of his depressive episodes.

Let's get started.

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1. How an $18-an-hour Amazon warehouse job cured one tech exec's burnout. Philip Su worked in tech for 23 years, including stints in executive roles at Facebook and Microsoft. But he was feeling "paralyzed" by depression and burnout, he says. He decided to quit his CEO job and, eventually, take on a seasonal role at an Amazon fulfillment center.

Su spent seven weeks working in a Seattle-area warehouse making $18.55 an hour. He worked during peak shopping season, the period between Black Friday and Christmas.
He describes a strict environment that didn't allow even team leads to sit down during their shift. Su estimates he lifted six tons of packages and a doctor told him he had developed carpal tunnel syndrome.
But he says the role's grueling pace helped lift him out of his depression.

In other news:

2. YouTube's most powerful execs. Even as YouTube dukes it out with TikTok for Gen Z's attention, the video platform remains the most popular video site among teens. These days, it's working to extend its reach in gaming, podcasting, and TV, and it has a stacked roster of executives to help make that happen. Meet the 15 power players leading YouTube.

3. Elon Musk is firing top Twitter execs already. According to sources, Musk ousted CEO Parag Agrawal and CFO Ned Segal on Thursday, the very same evening he acquired Twitter. Musk marked the moment with a short tweet, of course. Other executives are expected to leave as well, and between them, they stand to make a total of $88 million.

4. Who stays and who goes in Amazon cuts. Amazon is "looking for areas where we can save money," CFO Brian Olsavsky said during a conference call Thursday. For employees, that most likely means job cuts. Which divisions are probably safe and which are likely to get the ax.

5. Young tech workers are in for a rude awakening. At Silicon Valley's top companies, the days of endless employee perks — from free laundry to company swag — are coming to an end. Tech firms once used those perks to lure top talent, but these days, it's all about cutting back. Why "winter is coming" in the tech world.

6. How Elon Musk's "autocratic leadership" will change Twitter. Employees should expect a major vibe shift once Musk takes over Twitter, experts say. That's because the laid-back, flexible culture honed by former CEO Jack Dorsey may not mesh well with Musk's hands-on style and penchant for 20-hour workdays. Here's what may change under Musk.

7. Mark Zuckerberg's metaverse bet is about control. Zuckerberg defended the billions he's spent on the metaverse during a conference call with investors this week, doubling down on his big bet despite Wall Street's concerns. That's because inside the metaverse, the Meta CEO has complete control over the imitation world he created, analysts say. More on that here.

8. Big tech salaries revealed. We combed through job offers made by IBM and Oracle to find out what they pay for roles like software developers, data scientists, and analysts. The findings provide a glimpse into what these companies are paying and how it varies by location. Here's a look inside Oracle salaries and what IBM is paying employees.

Odds and ends:

9. Can you spot the moon in this photo? A new photo from NASA's Lucy spacecraft was able to capture a rare sight: the moon and Earth in the same image. It shows the vast distance between the two, a distance so great that the moon is tricky to spot. See if you can find it (without needing a hint).

10. A major change is coming to the iPhone. Apple confirmed that USB-C charging is coming to the iPhone in order to comply with a new European Union law. It's a change that the company doesn't seem too happy about, but it could simplify things for users. This guide explains what it means for you.

The latest people moves in tech:

Apple's top designer — and Jony Ive's successor — has left the company
Samsung officially named Jay Y. Lee as executive chairman. The Samsung heir was sentenced to prison twice for embezzlement and bribery but has since been pardoned.

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 Avery Hartmans in New York. (Feedback or tips? Email ahartmans@insider.com or tweet @averyhartmans.) Edited by Hallam Bullock (tweet @hallam_bullock) in London.

Thursday 27 October 2022

Tech: Meta workers brace for layoffs

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10 THINGS IN TECH

Good morning, everyone! It's Thursday, which means there are only about 36 more hours until the weekend begins (but who's counting).

Today I'm dreaming of Bali, which will soon let tourists move there for five or 10 years. It seems like the perfect option for the digital nomads among us, but there's just one little catch: you'll have to bring about $130,000 with you.

In other news, Elon Musk visited Twitter HQ Wednesday holding an unexpected accessory and Meta employees are bracing for layoffs as metaverse spending soars.

I'm your host, Avery Hartmans — let's jump in.

If this was forwarded to you, sign up here. Download Insider's app here.

1. Meta workers are being told to prepare for layoffs. Employees at the Facebook owner are being told to put in 200% effort, but not even good performance could be enough to save their jobs. As the company embarks on a reorganization, insiders are starting to prepare their backup plans.

Employees say they have to hit a new performance mandate of "increased intensity," while some managers are being pushed out. Other leaders — and whole teams — are being moved around amid the ongoing reorganization, workers say
"There is general consensus that we will have 20% fewer people next year," one employee said. "How that will happen, I'm not sure yet."
At the same time, Meta isn't backing down from metaverse spending. It's on track to burn through more than $10 billion this year and warned Wednesday that its metaverse business will lose even more money in 2023.

Find out what's happening inside Meta.

In other news:

2. The rising stars of entertainment. Hollywood is rapidly evolving amid mergers, streaming battles, and tech disruption. All of this change means the industry needs innovative leaders, creative execs who can steer heavyweights like HBO Max, Netflix, and Amazon into the future. We identified the 26 rising stars in the entertainment industry — meet them here.

3. Elon Musk visits Twitter HQ. Elon Musk entered Twitter's headquarters on Wednesday with an unusual item in tow: a bathroom sink. "Let that sink in!" he tweeted, along with a video of the visit. Musk will be in Twitter's San Francisco office this week to meet with staff, according to a leaked email. Read the full memo — and watch Musk's video — here.

4. Social media is dividing us — just not in the way you'd think. The like-minded bubbles we live in on social media are the reason we're so divided, right? Maybe not, according to new research, which found that social media exposes us to people and ideas we wouldn't otherwise encounter, which leads to polarization. Here's how we got here.

5. Snap's CEO disses the metaverse. It's safe to say Evan Spiegel isn't a metaverse fan. The Snap CEO said living inside a computer is "the last thing I want to do when I get home from work during a long day." Why he's betting on augmented reality over virtual reality.

6. The iPhone will be irrelevant one day. What would make users give up their iPhones? As of right now, nothing. But it's actually inevitable the iPhone will one day be replaced by something else, and in fact, the technology that topples the iPhone could already be out there. Here's how to spot the signs that a change is coming.

7. A YouTuber built a gas generator to power his Tesla. YouTuber Matt Mikka wanted to take long road trips in his Tesla without having to stop to charge it. His solution: a gas generator that charges his Tesla Model S when it's parked and when the car is moving. Check out what he's calling a "cordless Tesla."

8. Netflix's animation stumbles. Netflix appears to be pulling back on its big bet on animated TV. Company insiders say Netflix made some avoidable missteps with its kids shows and that an upcoming adult animated show has been canceled. Combined with layoffs and leadership changes, signs point to disarray in Netflix's animation division.

Odds and ends:

9. I spent hundreds of dollars to let an animated chef make my dinner. At Le Petit Chef, the world's "smallest chef" prepares you a multi-course meal thanks to 3D projection mapping. It's a unique blend of food, technology, and entertainment, but it may not be worth the high price tag. This is what it's like to visit.

10. Which iPad is right for you. We compared all five iPads on the market, from the premium iPad Pro to the compact iPad Mini. While each of Apple's tablets has its merits, it can be hard to tell which one suits your needs. Our guide can help you decide.

What we're watching today:

Apple, Amazon, Intel, Shopify, and Pinterest will report quarterly earnings 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 Avery Hartmans in New York. (Feedback or tips? Email ahartmans@insider.com or tweet @averyhartmans.) Edited by Hallam Bullock (tweet @hallam_bullock) in London.

Wednesday 26 October 2022

Tech: Twitter workers flee to rivals

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10 THINGS IN TECH

We're halfway through the week, readers. Writing to you on this gloomy Wednesday in New York, I'm Avery Hartmans.

Today, we're looking at a major side-effect of the drama surrounding Elon Musk's Twitter takeover: the employee exodus. Hundreds of workers have left in 2022, about 530 in the last three months alone. They've moved on to some of Twitter's top rivals, Meta and Google chief among them.

Of course, these departures may be just what Musk is hoping for, and since he's reportedly on track to close the deal in three days, we may find out sooner than later.

There's a whole bunch of news today, including celebs' latest attempts to duck private jet trackers. Let's get to it.

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1. Meta and Google snap up Twitter employees. Amid the months-long saga between Twitter and Elon Musk, employees have been leaving in droves.

Almost 30% of workers who have left Twitter in the past three months headed to Meta and Google, new analysis of LinkedIn data shows. Other popular destinations include top social platforms like Pinterest and Snap.
Over 1,100 employees have left Twitter since Musk started buying up the company's stock in January.
"The bottom line here is that the uncertainty being generated by the fight between Elon Musk and Twitter is driving a lot of their top talent to other social media platforms," Greg Larkin from Punks & Pinstripes, the firm who conducted the analysis, told Insider.

Take a closer look at the Twitter exodus.

In other news:

2. Elon Musk pledges to close Twitter deal on time. In a video call with the banks helping to finance the deal, Musk reportedly promised his $44 billion purchase of Twitter will close on Friday. In the meantime, those banks are working on one of the last steps to close the deal. Here's the latest.

3. TikTok vs. Amazon. TikTok is starting to dabble in the US e-commerce game, testing shopping features and looking to hire fulfillment and supply-chain staff. The moves have led to speculation that TikTok wants to take on Amazon, but experts say that would be a huge mistake. This is what TikTok should do instead.

4. Elon Musk and Donald Trump try to dodge jet-tracking accounts. Billionaires, celebrities, and businesspeople have started looking for ways to evade trackers that keep tabs on their private jet travel. While there is a program that blocks certain tracking websites, even the FAA admitted that it's not a perfect solution. Here's how jet-tracking Twitter accounts are getting around it.

5. Which of Amazon's top-secret moonshot projects got the ax. Cost-cutting has come for Amazon's Grand Challenge, a moonshot lab working on stealth projects in areas like healthcare and augmented reality. An uncertain economic outlook is leading Amazon to trim expenses in areas like hiring and warehouse expansion, and now, moonshots. Find out the projects that were shuttered — and those that survived.

6. Netflix makes it easier to kick free-loaders off your account. Netflix recently added a new tool that lets users move their history and preferences to a membership they pay for. It's basically a polite way of getting moochers off your account, and it's part of a bigger effort from Netflix to crack down on password-sharing. More on that here.

7. YouTube creators share the platform's best and worst features. YouTube is constantly evolving creator tools and features to help it stand out from rivals like TikTok and Instagram, but not all those tools are beloved by users. Seven YouTubers share their favorite and least favorite features, plus the tools on their wish lists.

8. Amazon is forcing some logistics employees to relocate to Phoenix — or lose their jobs. According to emails seen by Insider, Amazon instructed as many as 200 employees at its central freight logistics hub to return to the office by January. However, many of those employees were hired as remote workers, meaning some will be forced to relocate to the hub's Phoenix offices, or face termination.

Odds and ends:

9. Testing the Tesla Model Y. Insider's resident EV expert Tim Levin has tested 14 different electric vehicles, but never a Tesla — until now. He found plenty to love about the Model Y, from its easy charging to its stylish interior, but some clear downsides, too. What it's like to drive a Model Y for the first time.

10. The top MacBook accessories. Your MacBook works great on its own, sure, but what if you could do more? These accessories, from a standout wireless mouse to a backup battery, will help maximize your laptop's functionality and your productivity. Check out our 15 top choices right this way.

What we're watching today:

Meta and Samsung are reporting earnings today
Apple's latest iPads are now available to buy in stores.

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 Avery Hartmans in New York. (Feedback or tips? Email ahartmans@insider.com or tweet @averyhartmans.) Edited by Hallam Bullock (tweet @hallam_bullock) in London.