How do you spend $400,000 on takeaway in a matter of months? Hint: you're going to need to order a lot of steak and lobster.
Newsletter editor Hallam Bullock here, reporting from London, and I'm baffled by FTX's DoorDash bill.
Last November, FTX went bankrupt because it didn't have enough money to meet customer withdrawals. Well, court filings have laid bare the company's excessive spending habits on luxury estate, hotels and, of course, a yacht. Here's the full breakdown.
Oh, and don't get me started on how much they spent at Jimmy Buffett's Margaritaville beach resort.
Now, are you sitting comfortably? Let's take a look at the week's big tech stories.
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1. Wall Street says TikTok CEO Shou Zi Chew had a "disaster" day in Congress. But the internet is loving him.
Chew was in Congress's crosshairs Thursday, testifying amid calls to either force the sale of TikTok's US business or ban its use in the country.
The hearing quickly devolved into a bloodbath of "yes or no" questions from politicians on both sides of the aisle, several of whom appeared uninterested in hearing full responses from the executive, Insider's Dan Whateley and Aaron Mok write.
However, snippets from the testimony went viral, with people mocking the proceedings and calling lawmakers "boomers" who are "embarrassing" them in front of the world.
Wall Street may have dubbed Chew's testimony a "disaster," but by the end of it, Chew had the internet eating out of his hand.
Read the full story.
Top tech stories of the week:
2. Be careful who you trust online: the romance scam is on the rise. A lover left in the lurch is a tale as old as time. But as the pandemic's isolation has sent more people online, the stakes have grown. Digital grifters are now bilking the lonely out of $1.3 billion a year. More here.
3. A guy has done what we're all thinking. He asked ChatGPT to turn $100 into as much money as possible. But, more importantly, he did what most of us would never do: he acted on every step. Read how it went.
4. Gen Z is coming for the housing market. With technology and know-how that previous generations could have only dreamed of at their age, Gen Zers are poised to reshape the housing market as they claim their slice of the pie. The full story.
5. A former Google recruiter broke down how to land a job in tech. From using LinkedIn to work smarter, not harder, to being loud about your layoff, Jeff Sipe shared some tips on how to stand out. He also told Insider the things that can blow your interview.
6. Which phone brand is the Kremlin's favourite? According to a report, it isn't the iPhone. Officials close to the presidential administration were told: "It's all over for the iPhone: either throw it away or give it to the children," per a Reuters translation. Here's why.
7. Bill Gates revealed his predictions for the future of AI. In a seven-page letter, the billionaire focused on three sectors he believes AI can transform — as well acknowledging the risk of superintelligent AI that could "establish their own goals." The Age of AI has Begun.
8. Save yourself some time, activate "monk mode." As a person who can easily fall into procrastination and a lack of focus, one software engineer tried the viral trend. After going into "monk mode," he experienced soaring productivity, work-life balance, and happiness. Here's how it works.
From our tech analysis team:
9. Google Bard is already behind in the AI wars. On Tuesday, Google invited users in the US and UK to sign up for access to Bard — the Google's answer to ChatGPT. Unfortunately for the search giant, testers say Bard isn't living up to the competition. Here's why.
10. Amazon and Meta's 48,000 job cuts usher in Big Tech's new mantra: Revenue per employee. Workers who managed to keep their jobs after two devastating rounds of layoffs aren't off the hook yet. Now, they will have to fight tooth and nail to prove their worth. Read more.
Today's team: Hallam Bullock in London, Lisa Ryan in New York, and Dave Smith in Toronto.
