Techmeme
November 10, 2022, 9:25 PM

Top News

Sam Bankman-Fried / @sbf_ftx:
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
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.
Nikhilesh De / CoinDesk:
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.
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.
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” …
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’
Bloomberg:
Source: Twitter's head of Trust & Safety Yoel Roth and head of ad sales Robin Wheeler resigned on November 10  —  Elon Musk, in his first address to Twitter Inc. employees since purchasing the company for $44 billion, said that bankruptcy was a possibility if it doesn't start generating more cash …
Kate Clark / The Information:
Sources: SBF invested $500M+ in Paradigm, Altimeter, Multicoin, and other VCs, including committing $200M to Sequoia; Pitchbook shows he committed $300M to K5  —  FTX founder Sam Bankman-Fried was not only a tireless fundraiser from venture capital firms including Paradigm and Sequoia Capital …
Kurt Wagner / Bloomberg:
In his first email to Twitter staff, Elon Musk warns of “difficult times ahead” and bans remote work, saying employees must be in the office 40+ hours per week  —  New Twitter Inc. owner Elon Musk emailed his workers for the first time late Wednesday to prepare them for …
Dan Primack / Axios:
Kyle Wiggers / TechCrunch:
Sara Fischer / @sarafischer:
Taylor Hatmaker / TechCrunch:

Sponsor Posts

Meta:
Open Source AI: Available to all, not just the few  —  Meta's open source AI enables small businesses, start-ups, students, researchers and more to download and build with our models at no cost.
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:
CIO challenge 5: Can we find an effective solution that also minimizes operational costs?  —  Welcome to the next and final installment of our CIO series!  After what feels like a thousand cups of coffee …
Hamming:
Make AI Voice Agents trustworthy  —  Hamming AI automatically tests AI voice agents and continuously monitors them in production.
Techmeme Ride Home:
Thu. 11/21 - What The DOJ Wants Google To Do
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 9:25 PM ET, November 10, 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