Wednesday, 6 April 2022

10 Things in Tech: Fast's fall

10 THINGS IN TECH

Welcome back, readers. Fintech Fast is closing its doors this week, and a very good (robot) dog is helping restore the ancient city of Pompeii.

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. Stripe-backed Fast is shutting down. According to a leaked screenshot viewed by Insider, CEO Domm Holland told employees their last day will be Friday.

Just last week, Insider reported the fintech, which offered one-click checkout software for online merchants, was planning to cut half of its staff as it explored options for a possible sale.
Tuesday morning, an email from Holland said "the vast majority" of Fast engineers would have an opportunity to join buy now, pay later player Affirm — but that "there is not a role for everyone."
Then, in an all-hands meeting shortly after, Holland reread the email and abruptly ended the call, leaving employees hanging.

Read Holland's full email to staff.

In other news:

2. Twitter will test an edit feature. In a tweet, the company said it's been working to let users edit their tweets after posting them. And while the announcement followed new board member Elon Musk's edit-button survey, Twitter "didn't get the idea from a poll." We've got the latest.

3. Google Cloud is hiring 200 support staff employees, a month after hitting the department with layoffs. Last month's layoffs affected dozens of workers, insiders said. Now, internal emails show the company is hiring employees for the same department, but many will be based in cheaper markets. Everything else the emails said.

4. Amazon is planning a new internal-messaging app that could censor terms like "union" and "restrooms." According to The Intercept, Amazon is working on a platform for employees to praise each other, but documents indicate it would flag or block posts containing words linked to working conditions and other topics. See other blacklisted terms.

5. Want to land a software-developer job? Listen to these 10 podcasts. We compiled a list of podcasts — with topics including programming, tech, and more — that every aspiring software developer can add to their queue to improve their programming skills. Check them out here.

6. GM and Honda are partnering to build electric cars people can actually afford. The carmakers expect to begin selling millions of the cheaper models — including compact SUVs — starting in 2027. Get the full rundown here.

7. Analysts explain why ads may not be the move for Netflix. Even though the streamer has the content and the tech for a cheaper, ad-supported version, experts say the upside of adding commercials may be limited. The case against Netflix ads.

8. We outlined the top five TV shows returning to streaming services this month. Every month, Insider looks at data for the most anticipated returning TV shows. This month, viewers are looking forward to Netflix's "Russian Doll," which is returning after a three-year hiatus. These are the other long-awaited TV shows.

Odds and ends:

9. Starbucks is the latest company to jump onto the NFT bandwagon. Interim CEO Howard Schultz said that by the end of the year, the company would be in the digital tokens business. What we know so far.

10. A robodog is helping restore the ancient city of Pompeii. Named Spot, the robot dog from Boston Dynamics can autonomously navigate difficult terrains that can't be safely accessed by humans. See the very good dog in action.

What we're watching today:

Bitcoin 2022 starts today in Miami.

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.

Tuesday, 5 April 2022

10 Things in Tech: Musk's big Twitter bet

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10 THINGS IN TECH

Hello, again. Today we've got the latest on Elon Musk's surprise Twitter stake, and are giving you a sneak peek inside Hyundai's sleek new electric SUV.

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. Elon Musk is now Twitter's biggest shareholder. With 9.2% of the company, employees and analysts are now wondering how he will influence it — though some just hope the stock bump lasts:

Musk's surprise purchase, which was revealed Monday in a regulatory filing, sent Twitter's shares soaring as much as 27%.
Two employees told Insider they hope the price increase will stick until the window for trading their stock opens again in May. Another, who was considering leaving the company because of its low stock price, said he might reconsider if the stock holds.
One analyst, pointing to some of Musk's previous tweets, predicted the billionaire Tesla CEO may try to push for changes. Another suggested he may take an even "more aggressive ownership role of Twitter."

What Musk's investment could signal for Twitter.

In other news:

2. Polestar is supplying 65,000 rental vehicles to Hertz. Taking a page out of Tesla's playbook, the electric-car maker will be providing the vehicles over the next two years, starting with the Polestar 2 sedan (which we crowned the coolest EV you've never heard of). What the deal could mean for the young brand.

3. Amazon is staffing up "Project Santos," its secretive project to take on Shopify. According to an internal org chart, Amazon is building out the team with heavy hitters from across the company, including Doug Yeum, ex-Amazon cloud partner network chief and former "shadow" to Amazon CEO Andy Jassy. Meet Project Santos' newest member.

4. They founded a $17.5 billion startup in Russia. Then a war broke out. Software firm Miro closed its office in Russia in March and is scrambling to relocate those employees as the country's assault on Ukraine continues. How one of Russia's crown-jewel startups cut ties with the country.

5. Do we really need metaverse cities? Cities from Seoul to Santa Monica are making big bets on the metaverse. But despite all the money and resources flooding into the new technology, a key question about the metaverse has gone unanswered: What's the point?

6. Two execs have resigned from Truth Social, former President Trump's social-media venture. Reuters reported that two "key" executives stepped down from the startup behind the app. An Insider reporter spent a week on the app, and said it felt like "exploring a ghost town."

7. A founder used this pitch deck to turn a 20-minute pitch into a 1.5-hour conversation — and a $1.25 million check. Aymeric Maudous, founder of climate tech startup Lord of the Trees, used this 12-slide deck to nab funding from legendary investor Tim Draper. Plus, search over 650 decks in our pitch deck library.

8. Two tech execs explain how paternity leave made them better leaders. Opendoor's CTO and VP of engineering said taking paternity leave can set a good example for the rest of your coworkers — especially if you work for a tech company. Read their advice here.

Odds and ends:

9. We tested Hyundai's sleek new electric SUV — and it exceeded expectations. Insider's transportation reporter spent five days with the much-anticipated Ioniq 5, and was won over by its ultra-fast charging, striking looks, and stylish interior. These are the Ioniq 5's best features.

10. A robot dog issuing COVID-19 safety instructions is roaming the streets of Shanghai. With a loudspeaker strapped to its back, the robodog barks at residents in the locked-down city to "wear a mask, wash hands frequently, and check your temperature." Watch the dog in action.

What we're watching today:

Microsoft is expected to reveal "the future of hybrid work" with Windows 11.
Megan Thee Stallion begins "Enter Thee Hottieverse," a VR concert tour.
Axios is holding its virtual "What's Next" Summit.
The DEVintersection Conference takes place today through April 7.
Forbes' World Billionaires List is scheduled to be announced.

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.

Event invite: Join us on April 12 at 12 p.m. ET for 'Accelerate the Net-Zero Transition,' in partnership with Bank of America. Sustainable finance experts will discuss how the net-zero transition is being financed. Register 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.

Monday, 4 April 2022

10 Things in Tech: Fast's implosion

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10 THINGS IN TECH

Happy Monday, folks. Today we're taking you inside Fast's implosion, and giving you a tour of a luxury 3D-printed house.

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. Leaked screenshots and audio reveal the implosion within Stripe-backed Fast. One-click checkout startup Fast plans to lay off half of its staff — and employees are taking to internal Slack channels and all-hands meetings to demand answers.

In February, a Fast exec told Insider the company would be doubling its employee headcount by year's end.
Last week, however, The Information reported that Fast planned to cut 200 members of its staff, citing that payroll made up more than 60% of its operating expenses in 2021.
Shortly after the story broke, employees shared their concerns in a Slack channel called #teamfun, according to screenshots leaked to Insider.
"All we're asking for is to know if we will all be out of work tomorrow/this week, and to hear it from our leaders," one employee wrote.

Everything we learned from the screenshots.

In other news:

2. The aftermath of The Slap continues. Netflix and Sony have put upcoming projects with Will Smith on hold after he slapped comedian Chris Rock at the 2022 Oscars. What we know so far.

3. Tech startup Bolt embraced the four-day week — and actually made it work. In a buzzy Silicon Valley startup full of lifelong overachievers, the transition to a four-day workweek took some getting used to, employees said. But somehow, the seemingly impossible feat worked out. Here's how they did it.

4. ICYMI: An Amazon warehouse in New York successfully voted to unionize. After workers in Staten Island became the first in the company's history to form a union, one organizer popped champagne and thanked Jeff Bezos for going to space: "When he was up there, we was signing people up." A look at what the unionization means.

5. A Facebook content moderator describes what he feels is like "living in a horror movie." Daniel Moutang, a content moderator in Kenya, says his job exposed him to images and videos of torture, exploitation, and graphic violence — and that it damaged him forever. Read his story here.

6. Twitter founder Jack Dorsey said he's "partially to blame" for centralizing the Internet. In a tweet, Dorsey said "centralizing discovery and identity into corporations really damaged the internet," adding that he regrets the role he played in its centralization. Here's what he said.

7. In Texas, it's Elon Musk versus baby sea turtles. SpaceX's massive launch pad would scorch a fragile ecosystem. But to Musk — and the thinkers known as "longtermists" — that's a fair tradeoff if it means getting humans to Mars. Inside Musk's dilemma: space travel, or the planet we already have?

8. These are the best movies coming to Netflix this month. The streamer is getting a batch of new movies in April, from classics like "Bonnie and Clyde" to thrillers like "Inception." See our top 16 picks here.

Odds and ends:

9. This writer stayed in a 3D-printed home — and is convinced the tech is the future of home construction. The luxury house's curved concrete walls, high-end finishes, and practicality made it one of the most uniquely designed homes she's ever stayed at. Take a look inside the 2,000-square-foot house.

10. Snoop Dogg goes all-in on crypto and the metaverse in his new music video. Set in the artist's "Snoopverse," the music video gives viewers a glimpse of what the exclusive virtual world looks like — without having to pay thousands of dollars to join. Watch the video here.

What we're watching today:

Starbucks' CEO Kevin Johnson is retiring.
The Spacecraft Charging Technology Conference takes place today virtually.

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

Friday, 1 April 2022

10 Things in Tech: Amazon union vote

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10 THINGS IN TECH

Happy April Fools' Day, if you're into that sort of thing.

The Amazon union vote in Alabama is too close to call, and you can now add a Tesla to your growing list of monthly subscriptions.

Shall we?

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

1. Two Amazon warehouses that voted on unionization are counting votes. The vote at a warehouse in Bessemer, Alabama, is still too close to call, but an Amazon warehouse in Staten Island may be the first in the country to unionize, with a decision as early as today.

In Bessemer, an initial tally last night showed workers were poised to reject unionization for a second time (the first vote took place last April, but the US labor board rejected it, citing misbehavior from Amazon), with a count of 993 against the union and 875 in favor of it.
Meanwhile, a similar effort by the newly formed Amazon Labor Union showed pro-union votes ahead at a warehouse in Staten Island. There, as the first day of counting closed yesterday, the union was leading with 1,518 votes in favor and 1,154 opposed.
Hundreds more ballots are challenged and remain to be counted, with the vote in Bessemer potentially taking weeks to finalize. Previous reporting by Insider found Amazon is all but sure to win again in Alabama.

Get the latest news on the union efforts.

In other news:

2. For six months, a Facebook bug reportedly amplified misinformation instead of stifling it. According to The Verge, a "massive ranking failure" on Facebook's News Feed heavily distributed posts containing nudity, violence, and false information. What we know so far.

3. Gopuff cut more than 400 employees as part of a restructuring. An email sent to employees and obtained by Insider shows the ultrafast delivery company laid off 3% of its global workforce, including corporate and warehouse employees, on Thursday. Read the email to staff here.

4. A Twitter account translating Chinese propaganda about the Ukraine war built 60,000 followers — and set off an international firestorm. The Great Translation Movement, which translates Chinese-language posts into English, has attracted both thousands of followers and criticism from state media calling it a "smear campaign." Inside the controversial account.

5. What went wrong at Fridge No More? Insiders and a company cofounder revealed how the ultrafast delivery player went from $17 million in funding and a DoorDash deal to a sudden and "devastating" end. A look at the company's final days.

6. Apple just made it harder for thieves to make money from stolen iPhones. Apple technicians have been instructed not to repair iPhones that have been listed as missing on a global database. Get the full rundown here.

7. These former Shopify employees have launched their own startups. Embracing the e-commerce giant's mantra of being "a company for entrepreneurs, built by entrepreneurs," 34 former employees have created their own startups, from snack brands to software companies. Meet the Shopify Mafia (and their companies).

8. Employees share the companies with the best engineering, product, and design teams. Using employee responses, Comparably released its list of firms with some of the best departments. According to workers, UiPath boasts the best engineering team, while HubSpot has the best product and design teams. See the other contenders here.

Odds and ends:

9. A Tesla subscription service is coming to select US cities. Rental car startup Kyte is launching a Tesla Model 3 subscription service, which, starting at $995 per month, will let customers drive a Tesla for three-month, six-month, or 12-month terms. Get the rundown on the subscription.

10. We've got a quick guide to Spotify's Car Thing. The Car Thing (yes, that's its actual name) is a small touchscreen device that can effectively replace your car's built-in stereo. Everything you need to know about the Car Thing.

The latest people moves in tech:

Oracle's cloud business quietly reshuffled itself after key exec Don Johnson moved to assist chairman Larry Ellison.
Crypto news site The Block appointed a new editor-in-chief from Bloomberg.
Mike Frazzini, head of Amazon Games Studio, stepped down this week.
FedEx founder and CEO Fred Smith plans to step down in June. He'll be replaced by company veteran Raj Subramaniam.
Ben Smith and Justin Smith's media startup Semafor has hired a chief revenue officer from The New York Times.
Robert Isom became the new CEO of American Airlines.
Shell CFO Jessica Uhl stepped down this week.

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.