Techmeme
November 23, 2022, 7:00 AM

Top News

Nikhilesh De / CoinDesk:
SBF claims FTX had ~$60B in collateral in spring 2022, before a credit squeeze, market selloff, and “run on the bank” reduced it to $9B and led to bankruptcy  —  The former FTX CEO did not address concerns about customer funds being misappropriated or other recent revelations about the company.
Berber Jin / Wall Street Journal:
Sources: Sequoia apologized to its fund investors for the $150M lost on its FTX bet and details plans to improve its due diligence process on new investments  —  Venture-capital firm tells fund investors that it will improve due diligence on future investments after $150 million loss on crypto exchange
Ken Sweet / Associated Press:
In a bankruptcy hearing, FTX lawyers say a “substantial amount” of assets have been stolen from accounts; client names and addresses will be redacted for now  —  Lawyers for FTX disclosed Tuesday that a “substantial amount” of assets has been stolen from the accounts …
Bloomberg:
Sources: hundreds of Foxconn workers at the iPhone plant in Zhengzhou clashed with security guards as protests erupted over unpaid wages and COVID-19 fears  —  Hundreds of workers at Apple Inc.'s main iPhone-making plant in China clashed with security personnel, as tensions boiled over after almost …
New York Times:
Since Elon Musk's takeover, sources say Twitter has in some cases chosen not to pay vendors, as it reviews and renegotiates deals to cut expenses  —  Mr. Musk and his advisers are examining all types of expenses at Twitter.  Some of the social media company's vendors have gotten stiffed.
Liz Hoffman / Semafor:
Despite Elon Musk publicly distancing himself from SBF, texts between them on May 5 show SBF rolled over $100M in Twitter stock during Musk's takeover  —  Elon Musk used Twitter, the platform he now owns, to gleefully mock the meltdown of the crypto exchange FTX.
Alex Heath / The Verge:
Sergiu Gatlan / BleepingComputer:
Windows Subsystem for Linux is now generally available for Windows 10 and 11 via the Microsoft Store, as Microsoft makes the Store version of WSL the default  —  Microsoft announced today that the Store version of Windows Subsystem for Linux (WSL) is generally available for Windows 10 and 11 customers.
Bloomberg:
Sources: Genesis Global has $2.8B in outstanding loans, including ~30% of its lending made to related parties like its parent company DCG  —  The troubled brokerage Genesis Global has $2.8 billion in outstanding loans on its balance sheet, with about 30% of its lending made to related parties including …
Washington Post:
Pathmatics: over a third of Twitter's top 100 clients, including Mars and Jeep, as well as 14 of the top 50, haven't advertised on Twitter in the past two weeks  —  More than a third of Twitter's top 100 clients have not advertised on the platform in the past two weeks, data shows
Washington Post:
Denny Jacob / Wall Street Journal:
HP plans to lay off 4,000-6,000 employees, or up to ~10% of its workforce, over the next three years, aiming to achieve $1.4B in annualized cost savings  —  Dell warns of a worsening decline after a 17% drop in third-quarter laptop and desktop sales  —  HP Inc. HPQ 0.75%increase …
New York Times:
New York becomes the first US state to restrict crypto-mining as Gov. Kathy Hochul signs a bill imposing a two-year moratorium on permits at fossil fuel plants  —  National cryptocurrency industry groups had lobbied Gov. Kathy Hochul to veto the environmental ban, fearful that other states could follow New York's lead.

Sponsor Posts

Google:
Generate videos with Veo 3 in Google Gemini  —  Create high-quality, 8-second videos with Veo 3, our state-of-the-art AI video generator.  Try it with a Google AI Pro plan or get the highest access with the Ultra plan.
Techmeme Leaderboards:
Discover the top reporters on AI safety, robotics, stablecoins, and much more  —  We've analyzed Techmeme's news crawl to identify the most influential and prolific writers on 50 topics.  Download reports immediately for just $100.
Zoho:
Tuning response time psychology with an integrated solution  —  This is a guest post by Sharath Joji, Content Marketing Lead at Office24by7.Indecision and delays are often considered the parents of failure, and nowhere is this more true than in sales.
IDrive:
Protecting your Cloud Applications Data  —  Backing up Office 365, Google Workspace, Dropbox & Box data is critical to preventing data loss or corruption, complying with laws and avoiding critical downtime in case of a disaster.

Featured Podcasts

Lenny's Podcast:
Inside the expert network training every frontier AI model | Garrett Lord (Handshake CEO)
Interviews with world-class product leaders and growth experts to uncover actionable advice to help you build, launch, and grow your own product.
Subscribe to Lenny's Podcast.
Big Technology Podcast:
The Big GPT-5 Debate, Sam Altman's AI Bubble, OnlyFans Chatbots
The Big Technology Podcast takes you behind the scenes in the tech world featuring interviews with plugged-in insiders and outside agitators.
Subscribe to Big Technology Podcast.
Tech Brew Ride Home:
Has China Shut The Door On Nvidia?
Tech news headlines every day. 15 minutes and you're up to date. From Tech Brew, Morning Brew's tech hub.
Subscribe to Tech Brew Ride Home.
The Social Radars:
Founder Mode: Paul Graham, Founder, Y Combinator
Come be a fly on the wall as Y Combinator's Jessica Livingston and Carolynn Levy talk to some of the most successful founders in Silicon Valley about how they did it.
Subscribe to The Social Radars.
Hard Fork:
Is This an A.I. Bubble? + Meta's Missing Morals + TikTok Shock Slop
The future is already here. Each week, journalists Kevin Roose and Casey Newton explore and make sense of the latest in the rapidly changing world of tech.
Subscribe to Hard Fork.
Decoder with Nilay Patel:
Amazon is betting on agents to win the AI race
A show from the Verge about big ideas - and other problems.
Subscribe to Decoder with Nilay Patel.
 

About This Page

This is a Techmeme archive page. It shows how the site appeared at 7:00 AM ET, November 23, 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

Manish Singh / TechCrunch:
New York Times:
Jeff Horwitz / Wall Street Journal:
Mack DeGeurin / Gizmodo: