Week in Review - Meta lays off thousands, FTX collapses, and Twitter has a very weird week

TechCrunch Newsletter
TechCrunch logo
Week in Review logo

By Greg Kumparak

Saturday, November 12, 2022

Hey, friends! Welcome back to Week in Review, the newsletter where we recap the top TechCrunch headlines from the past seven days.

Ready? Let’s go.

 image

Image Credits: TechCrunch

most read

Twitter had a week so strange that it could easily make up this entire newsletter, so we’ll keep to the bullet points:

  • Last week Elon laid off a huge chunk of the company. This week, some of those who were let go were reportedly asked to come back.
  • Twitter started giving blue verified checkmarks to anyone who’d pay $8. Things got chaotic fast.
  • Twitter rolled out a new, second checkmark for “Official” accounts. And then got rid of them. And then…brought them back?
  • By Friday morning, after fake “verified” accounts popped up for everything from companies to athletes to politicians, Twitter paused the $8 verification badge program.
  • A number of execs quit — to the point where the exits perked the ears of the FTC.
  • Elon reportedly told Twitter employees that “bankruptcy isn’t out of the question” for the company.

FTX collapses: Once one of the biggest crypto exchanges in the world, FTX effectively exploded this week. It briefly looked like competitor Binance would step in to acquire FTX, only for Binance to take one look at FTX’s books and back out almost immediately. FTX founder Sam Bankman-Fried has since resigned, and the company has filed for bankruptcy.

Meta layoffs: Meta — the parent company behind Facebook, Instagram, and Whatsapp — laid off 13% of its workforce this week. With a worldwide headcount of around 87,000 employees, that works out to over eleven thousand roles cut.

Gmail will no longer let you go back to old Gmail: Don’t like the new look that Gmail started rolling out back in July? Bad news. While users could previously revert to the old design, the Gmail team announced this week that the new design will be the “standard experience” for all within weeks.

Google finds exploits in Samsung phones: “Google says it has evidence that a commercial surveillance vendor was exploiting three zero-day security vulnerabilities found in newer Samsung smartphones,” writes Zack Whittaker. “The chained vulnerabilities allow an attacker to gain kernel read and write privileges as the root user, and ultimately expose a device’s data.”

Scale Up your Business with our Black Friday savings!

Sponsored by Dell for Startups

Dell's Black Friday Sneak Peak is out now to help you from client systems to infrastructure hardware. We have your startup covered with the best scalable technology. Check out the latest tech offerings and save up to 50%.

Shop Now

audio roundup

Looking for a new podcast to tune into on your commute? Here’s what’s up in TC podcasts lately:

  • The Chain Reaction crew broke down the absurd collapse of FTX as it was happening.
  • Equity (with a guest appearance from TC’s Becca Szkutak) covered the seemingly endless layoffs we’re seeing from tech companies big and small, and what FTX’s meltdown means for it and companies like it.
  • Darrell was joined on The TechCrunch Podcast by TC senior reporter Dom-Madori Davis to talk about “the coalition of VCs that are standing for reproductive rights” and to recap the biggest tech stories of the week.

TechCrunch+

Not a TechCrunch+ member yet? Here’s what members were checking out most behind the paywall:

How ButcherBox bootstrapped to $600M in revenue: How did ButcherBox grow from a modest Kickstarter to $600 million in revenue in just a few years? Haje outlines the company’s path so far.

The Exchange: In his increasingly popular daily newsletter, Alex Wilhelm wonders: Has everyone been valuing software companies the wrong way all along?

Read more stories on TechCrunch.com

Newest Jobs from Crunchboard

See more jobs on CrunchBoard

Post your tech jobs and reach millions of TechCrunch readers for only $200 per month.

Facebook Twitter Youtube Instagram Flipboard

View this email online in your browser

Privacy Policy | Terms of Service | Unsubscribe

© 2022 Yahoo. All rights reserved. 110 5th St, San Francisco, CA 94103

Older messages

Startups Weekly - What the midterm madness means for startups

Saturday, November 12, 2022

TechCrunch Newsletter TechCrunch logo Startups Weekly logo By Kyle Wiggers Saturday, November 12, 2022 Welcome to Startups Weekly, a nuanced take on this week's startup news and trends. Image

FTX CEO Sam Bankman-Fried quits as crypto exchange files for bankruptcy

Friday, November 11, 2022

TechCrunch Newsletter TechCrunch logo The Daily Crunch logo By Christine Hall and Haje Jan Kamps Friday, November 11, 2022 Hoooo boy. As Alex would say: This week has been a long year. You just know it

50% off TC Sessions: Space tickets for Veterans Day

Friday, November 11, 2022

Keep your finger on the pulse of the space industry TC Sessions: Space Header A 50% off salute to Veterans Day How'd you like to save 50% on a trip to space? We mean TC Sessions: Space on 12/6 in

Help for H-1B tech workers who've been laid off (or think they might be)

Friday, November 11, 2022

TechCrunch+ Newsletter TechCrunch+ logo TechCrunch+ Roundup logo By Walter Thompson Friday, November 11, 2022 Welcome to TechCrunch+ Friday Image Credits: Bryce Durbin/TechCrunch According to layoffs.

Sequoia Capital writes off its $210M investment in crypto exchange FTX

Thursday, November 10, 2022

TechCrunch Newsletter TechCrunch logo The Daily Crunch logo By Christine Hall and Haje Jan Kamps Thursday, November 10, 2022 Tech reporting is a lot of things, but it sure ain't boring, as the

🤗 Stable Diffusion v2

Sunday, November 27, 2022

📝 Editorial Stable Diffusion has been one of those few machine learning (ML) models that have transcended to mainstream culture. A few months ago, Stability AI shocked the ML community by open-sourcing

You're invited to our next event about developer tools!

Sunday, November 27, 2022

In case you've missed it Only 2 days left to join our TED-like online event! We meet once a month to learn new stuff from world-class developers. In this event we'll focus on developer tools!

Palette/Ultralight running shoes/Futurepedia

Sunday, November 27, 2022

Recomendo Recomendo November 27 · Issue #334 · View online A weekly newsletter that gives you 6 brief personal recommendations of cool stuff. For a searchable archive of past issues check out https://

Kotlin Weekly #330

Sunday, November 27, 2022

ISSUE #330 27th of November 2022 Announcements We Are Looking For EAP Champions! The Kotlin Team is looking for Kotlin Early Access Preview (EAP) champions. If you are interested make sure that you

Tesla.com/.gitignore — Show HN: Using stylometry to find HN users with alternate accounts — and The Need to Read

Saturday, November 26, 2022

Issue #963 — Top 20 stories of November 27, 2022 Issue #963 — November 27, 2022 You receive this email because you are subscribed to Hacker News Digest. You can open it in the browser if you prefer. 1

⚡️30% OFF – only three days left⚡️

Saturday, November 26, 2022

Don't miss out! ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Digest #79: Run GitHub Actions Locally 🚀

Saturday, November 26, 2022

Digest #79: Run GitHub Actions Locally 🚀 #79: Run GitHub Actions Locally This week's newsletter highlights why containers are just chrooted processes, how to migrate from Postgres to DynamoDB,

Daily Coding Problem: Problem #947 [Hard]

Saturday, November 26, 2022

Daily Coding Problem Good morning! Here's your coding interview problem for today. This problem was asked by Oracle. We say a number is sparse if there are no adjacent ones in its binary

12 AirPods Features You Should be Using

Saturday, November 26, 2022

Did You Know?: Most cranberries are harvested by flooding their fields (they float thanks to little air pockets in the berries) and tend to be frozen or processed quickly once harvested. Those that are

Infographic | Every Song With Over 1 Billion Spotify Streams 🎧

Saturday, November 26, 2022

Spotify's 'Billions Club' playlist tracks every song with over 1 billion streams. We took the data and broke it down by decade and artist. View Online | Subscribe Presented by: Our latest