Techmeme
November 4, 2022, 4:15 AM

Top News

Faiz Siddiqui / Washington Post:
Josh Eidelson / Bloomberg:
Twitter workers file a class-action lawsuit against the company in San Francisco for mounting mass layoffs without at least 60 days' notice, per the WARN Act  —  Twitter Inc. was sued over Elon Musk's plan to eliminate about 3,700 jobs at the social-media platform — half of its workforce …
Reuters:
Sources: Elon Musk told Twitter's teams to find up to $1B in annual infrastructure cost savings, including reduced spending on cloud services and server space  —  Elon Musk has directed Twitter Inc's teams to find up to $1 billion in annual infrastructure cost savings, according …
Will Oremus / Washington Post:
Sources: Twitter staff have yet to receive a single official message since Elon Musk took over, relying instead on his tweets, media reports, and private chats  —  Workers follow new boss's tweets and share rumors on anonymous apps amid silence from leadership on firings, staff cuts and product changes.
New York Times:
Sources: Elon Musk is weighing adding paid DMs to let users privately message “Very Important Tweeters”; docs: Twitter Blue checks won't require ID verification  —  The billionaire and his advisers have discussed adding paid direct messages, fees to watch videos and other features to the service.
Casey Newton / Platformer:
Sources: Twitter plans to shut down newsletter platform Revue, acquired in January 2021, by the end of 2022, and has paused its four-month-old Notes product  —  A new Vine camera is in.  Notes and Revue are out  —  With massive layoffs expected to hit Twitter tomorrow …
Wall Street Journal:
General Mills and Audi paused Twitter ads, and sources say Pfizer and Mondelez have as well, as concern over content moderation grows  —  Advertisers are concerned about a flurry of executive departures at Twitter and new owner Elon Musk's plans for content moderation
Annie Palmer / CNBC:
Amazon pauses hiring for roles in its corporate workforce, after announcing in October plans to freeze hiring for corporate roles in its retail business  —  KEY POINTS  — Amazon is pausing hiring for roles in its corporate workforce, the company announced in a memo to staff Thursday.
Wall Street Journal:
Nelson Wang / CoinDesk:
Coinbase Q3: net revenue down 28% QoQ to $576M, net loss down 50% QoQ to $545M, subscription and services up 43% QoQ, and monthly transacting users down to 8.5M  —  The crypto exchange's transaction revenue fell 44% from the second quarter.  —  Crypto exchange Coinbase (COIN) …
Jordan Novet / CNBC:
Atlassian reports Q1 revenue up 31% YoY to $807.4M, vs. $806.4M est., and forecasts lower than expected Q2 revenue; stock drops 20%+ after falling 54% in 2022  —  - Atlassian's quarterly revenue outlook missed expectations.  — The software maker said existing customers are adding users at a reduced pace.
The Verge:
AMD unveils the RX 7900 XTX for $999 and the lower powered RX 7900 XT for $899, its first GPUs built on its RDNA 3 chiplet architecture, shipping on December 13  —  AMD has announced its next generation of graphics cards, the RX 7900 XTX and RX 7900 XT, which are the first cards powered by its new architecture, RDNA 3.
Jennifer Surane / Bloomberg:
Memo: Stripe plans to lay off 14% of its staff this week, reducing its headcount by 1,000+ to almost 7,000, to trim expenses in preparation for “leaner times”  —  Stripe Inc., one of the world's most valuable startups, will cut more than 1,000 jobs as it seeks to rein in costs ahead of any economic downturn.
James Vincent / The Verge:
Google unveils an AI model trained on 400+ languages with the largest “coverage seen in a speech model” and plans to support the 1,000 most spoken languages  —  Google has announced an ambitious new project to develop a single AI language model that supports the world's “1,000 most spoken languages.”
Jennifer Pattison Tuohy / The Verge:
Amazon plans to roll out the Matter over Wi-Fi standard to 17 Echo devices in December, starting with Android phones, covering smart plugs, bulbs, and switches  —  Amazon will start its Matter journey slowly, bringing support for the new smart home standard to 17 Echo devices in December.

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