Techmeme
November 11, 2022, 12:25 AM

Top News

Nikhilesh De / CoinDesk:
Sam Bankman-Fried / @sbf_ftx:
Tracy Wang / CoinDesk:
Current and former FTX and Alameda staffers say the Bahamian operation SBF ran with housemates is full of conflicts of interest, nepotism, and lack of oversight  —  “The whole operation was run by a gang of kids in the Bahamas,” a person familiar with the matter told CoinDesk on condition of anonymity.
Wall Street Journal:
Source: SBF told investors that Alameda owes FTX ~$10B and FTX extended loans to Alameda using customer funds, describing the decision as a poor judgment call  —  FTX Chief Executive Sam Bankman-Fried told an investor this week that Alameda owes FTX about $10 billion
Reuters:
Sources detail FTX's rise and fall: Changpeng Zhao's ~$100M investment in 2019, the souring Binance relationship, Alameda's series of losses in 2022, and more  —  On Tuesday morning, Sam Bankman-Fried, owner of cryptocurrency exchange FTX, caught his employees off-guard with a somber message.
Dan Primack / Axios:
Alex Heath / The Verge:
Sources: Twitter's chief privacy officer, CISO, and chief compliance officer have resigned; legal now asks engineers to “self-certify” compliance with FTC rules  —  Twitter's privacy and security teams are in turmoil after Elon Musk's changes to the service bypassed its standard data governance processes.
Bloomberg:
Twitter's head of Trust & Safety Yoel Roth resigned on November 10; sources: head of ad sales Robin Wheeler also resigned, but Elon Musk convinced her to stay  —  Elon Musk, in his first address to Twitter Inc. employees since purchasing the company for $44 billion …
Washington Post:
Twitter employees are concerned by the rapid rollout of features without the security reviews required by the FTC's consent decree reached with Twitter in May  —  Yoel Roth had become the public face of Twitter's efforts to reassure users and advertisers the service would not become a ‘free-for-all’
Erin Woo / The Information:
Sources: at an all-hands, Elon Musk told staff that Twitter may have a “net negative cash flow” of billions in 2023 and “bankruptcy is not out of the question”  —  Elon Musk told Twitter employees on Thursday the company may have a “net negative cash flow of several billion dollars” …
The Verge:
Elon Musk says Twitter will not survive “without significant subscription revenue” and that the company needs roughly half of revenue to come from subscriptions  —  Elon Musk has sent his first email to Twitter employees, warning them to prepare for a “dire” economy and putting an immediate end to remote work.
Kurt Wagner / Bloomberg:
Sara Fischer / @sarafischer:
Kyle Wiggers / TechCrunch:
Taylor Hatmaker / TechCrunch:

Sponsor Posts

Tribe AI:
Build AI products that matter  —  Tribe AI helps organizations rapidly deploy AI solutions that have real business impact.  We bring together world class AI talent and tooling to drive differentiated results.
Zoho:
How you can grow your business with Zoho One  —  Zoho One is a comprehensive business suite, giving businesses the scalability, stability, security, and features they need for smooth operations.
Hamming:
Make AI Voice Agents trustworthy  —  Hamming AI automatically tests AI voice agents and continuously monitors them in production.
Techmeme Leaderboards:
Discover the top reporters on AI, VR, policy, and much more  —  We've analyzed Techmeme's news crawl to identify the most influential and prolific writers on 48 news topics.  Download reports immediately for just $100.
Techmeme Ride Home:
Thu. 11/14 - The FBI (!) Investigating Polymarket
The day's tech news, every day at 5pm ET. Fifteen minutes and you're up to date.
Subscribe via Apple Podcasts, Spotify, or RSS.
 

About This Page

This is a Techmeme archive page. It shows how the site appeared at 12:25 AM ET, November 11, 2022.

The most current version of the site as always is available at our home page. To view an earlier snapshot click here and then modify the date indicated.

More News

Earlier Picks