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November 23, 2022, 12:40 AM
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Top News

Nikhilesh De / CoinDesk:
SBF says FTX had ~$60B in collateral in spring 2022, but a credit squeeze, market selloff, and “run on the bank” reduced it to $9B ahead of the 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 it lost on FTX and told them it would improve its due diligence process on future investments  —  Venture-capital firm tells fund investors that it will improve due diligence on future investments after $150 million loss on crypto exchange
New York Times:
Interviews and messages show how SBF used PACs, nonprofits, and consulting firms to woo politicians, regulators, and others to support his crypto goals
Koh Gui Qing / Reuters:
Records: FTX, its executives, and SBF's parents bought 19+ properties in the Bahamas worth ~$121M over the past two years as “residence for key personnel”
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:
Sources: at an all-hands, Elon Musk said Twitter is done with layoffs and actively recruiting for roles in engineering and sales; Twitter has 2,700+ employees
Washington Post:
Sources detail Elon Musk's rapid dismantling of Twitter's safety work, narrowing its scope to whatever he deems violent, threatening “sticks and stones” talk  —  Amid the wider turmoil since his takeover last month, Musk has moved rapidly to undermine Twitter's deliberative content-moderation system.
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
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 …
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.
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 …
Eliza Gkritsi / CoinDesk:
Filings: FTX, Alameda, and other affiliates have $1.2B in cash reserves, below the $3.1B owed to the top 50 creditors; Alameda's reserves are largest at ~$393M
Jeff Horwitz / Wall Street Journal:
Facebook's Q3 Widely Viewed Content Report: in a first, none of the top 20 posts broke platform rules; sources detail Meta's latest fight against spammy content  —  Third-quarter content report shows only one in the top 20 posts qualified as engagement bait  —  What's Behind Social Media Spambots and Can They Be Stopped?
Mack DeGeurin / Gizmodo:
Meta's researchers detail Cicero, an AI trained to “human level performance” in negotiation-based strategy game Diplomacy, ranking in the top 10% over 40 games  —  Ever since IBM's Deep Blue artificial intelligence system defeated world chess champion Garry Kasparov at his own game in 1997 …
Denny Jacob / Wall Street Journal:
HP to lay off 4,000 to 6,000 employees, or up to ~10% of its workforce, over the next three years as part of a plan 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 …
Bloomberg:
Sources: hundreds of Foxconn workers at Apple's iPhone plant in Zhengzhou clashed with security guards as protests erupted over unpaid wages and COVID-19 fear  —  Hundreds of workers at Apple Inc.'s main iPhone-making plant in China clashed with security personnel, as tensions boiled …

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About This Page

This is a Techmeme archive page. It shows how the site appeared at 12:40 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.

From Mediagazer

Benjamin Mullin / New York Times:
The Onion, backed by some Sandy Hook families and Everytown for Gun Safety, buys Infowars in a bankruptcy auction, and plans a January 2025 relaunch as a parody

Robbie Whelan / Wall Street Journal:
Disney reports Q4 revenue up 6% YoY to $22.6B, TV network revenue down 6% YoY to $2.5B, and a $321M DTC streaming profit, up from a $387M loss in Q4 2023

Dade Hayes / Deadline:
Disney investor call: Bob Iger says 60% of all new Disney+ subscribers are for the ad tier, and in a hot-mic moment wonders if he should have said the detail

More News

New York Times:
NY Governor Kathy Hochul signs a bill imposing a two-year moratorium on new crypto-mining permits at fossil fuel plants, becoming the first US state to do so
Manish Singh / TechCrunch:
Shares of Paytm closed at an all-time low on Tuesday, a week after the post-IPO lockup period for early investors expired, amid competition risk from Reliance
Bloomberg:
Sources: Binance CEO Changpeng Zhao met with investors in Abu Dhabi last week to raise money for a crypto industry recovery fund

Earlier Picks

Samuel Stolton / Politico:
The UK's CMA launches an investigation into Apple's and Google's dominance in mobile browsers and cloud gaming, following a survey that found a “stranglehold”
David Enrich / New York Times:
An investigation reveals how online US sports betting grew so big, so fast and what the consequences are likely to be for public health, taxpayers, and others
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