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For the first time in a long time, there is an interesting time for the world of cryptocurrencies. It was a year ago that the coin was trading for $65k. That is a decrease. Is this a cold snap or a warm spell?
We have an event in Miami coming up in a couple of weeks and you can buy tickets here.
The TechCrunch Top 3
More social media struggles: Though the subject matter was a downer, Paul wrote a great story about Meta’s confirmed layoffs of 11,000 employees, explaining what happened, why and what it means in the greater context of Meta’s future. More in Big Tech below.
It was good while it lasted: For a few hours this morning, us TechCrunchers were elated to see our precious Twitter handle get the “Official Twitter Badge,” but as Amanda writes, what Twitter giveth, Twitter quickly taketh away.
This is what really happened: It was Elon Musk, in the boardroom, with the badge code. As we just mentioned, Musk was killing spirit all over Twitter today, rolling out gray checkmarks for high-profile accounts and then deleting them. Kyle has more.
Startups and VC
Edge computing cloud and global data network Macro Meta has raised $38 million led by Akamai Technologies, as the two announce a new partnership and product integrations, Catherine reports. Sixty Degree Capital participated in the funding as well. Andy Champagne will be joining the board.
There is a ray of sun shining on some VCs, but it is not a sign of a new trend. The venture fund arm of Sweden's investment giant has filled its coffers with 1 billion after closing its latest fund.
Our headline stories are summarized.
Three tips for managing a remote engineering team
Inok is open in a new window.
It may not be everyone's cup of tea to be working from home. When Greg Soh and his co-founder decided to build a distributed engineering team, they had a lot of questions. There will be decisions made. What do they do to keep the culture going? The startup has learned a lot along the way of managing a remote team of engineers.
Most of the advice the company has learned is best suited to earlier-stage companies.
3 tips for managing a remote engineering team
There are three more people from the team.
The membership program helps startup teams get ahead of the game. This is where you can sign up. You can get a 15% discount on an annual subscription.
Big Tech Inc.
Following today's Meta announcement regarding the layoff of 11,000 employees, Ingrid did a deep dive into the company's 8-K and emerged with some fresh catch.
Frederic wrote about IBM's Osprey quantum processor, which isn't exactly 4,000 qubits, but at 433 qubits, it's a good start.
We have more for you.
More layoffs: You didn’t think you’d get off that easy, did you? Ron reports that Salesforce has laid off hundreds of employees, while Aria reports that Astra lays off 16% of its staff after nearly tripling it in the last year.
Brrr, it’s cold in here — there must be some crypto in the atmosphere: It’s like Anita had some sixth sense or something. Earlier today, she wrote that the proposed Binance and FTX M&A deal looked unlikely to close. Lo and behold, just before this went out, Binance decided to walk away from the deal, Jacquelyn reports.
Collaboration station: Ready to Freeform? Not sure it’s going to be a verb yet, but Apple hopes its collaborative whiteboard is something that sticks, Ivan reports.
Sensors and software and EV, oh my!: Volvo unveiled its first all-electric SUV today, and we are drooling. Jaclyn has more.
We’re guessing he didn’t win the Powerball: Elon Musk sold more of his Tesla shares, Rebecca writes. The 19.5 million shares were worth almost $4 billion. Wonder what he’s using the money for…
California voters shot down a plan to make electric vehicles more affordable for some residents, dealing a blow to Lyft and the EV industry alike. Proposition 30 would have taxed residents making m...Commercial electric vehicle company Canoo entered into an agreement to acquire a vehicle manufacturing facility in Oklahoma City, the company announced Wednesday along with its third-quarter earnin...Electric vehicle maker Rivian affirmed Wednesday that the company is on track to hit its annual production target of 25,000 vehicles despite unpredictable supply chain crunches and component shorta...Venture capitalists see this moment as a warning, but also as an opportunity for the growth of decentralization and maturation of the larger blockchain space.
Elon Musk’s mercurial leadership and half-baked product plans are already creating fertile ground for confusion on Twitter. We’ve lost count of how many times Musk has changed his mind ...The world’s largest crypto exchange by volume, Binance, said it would walk away from a deal with the third largest crypto exchange by volume, FTX.
Twitter’s new CEO and owner Elon Musk is rattling the cage at his social network and ruffling a lot of feathers both inside and outside of the company. But while some in the tech world descri...Kabam, the gaming company that has developed mobile games in partnership with entertainment brands including Disney, Marvel and Universal, has laid off about 7% — around 35 people — of its workforc...We’re packing our bags and getting pumped about flying to Miami for TC Sessions: Crypto on November 17. What about you? Don’t miss your chance to rub elbows with the kings and queens of blockchain...New Twitter owner Elon Musk joined a Twitter Space today to address concerns from advertisers about changes at the company. The Tesla and SpaceX CEO’s nascent foray into running a social medi...Really, what would the bottom be for software valuations? Given that no one thought we would get this far, I am loath to say that we’ve hit it. There could be even lower figures coming.
Elon Musk detailed his vision for Twitter’s plan to enter the payments market during a livestreamed meeting with Twitter advertisers, hosted on Twitter Spaces on Wednesday. The new Twitter ow...Zoom is working with Tesla to bring video conferencing into its vehicles. The announcement, made at the 2022 Zoomtopia conference, was light on details. But according to Zoom’s group product ...New crypto startups forged ahead during Alliance DAO’s demo day on Wednesday amid the FTX implosion and crypto market mayhem.
Crypto exchange Binance, the largest in the world by volume, signed a letter of intent Tuesday to purchase its troubled competitor, FTX, in what appears to be a potential bailout of the latter amid...Astra, a rocket startup that went public last year, told investors Tuesday it laid off 16% of its workforce as part of a wider strategy to increase shrinking financial runway and decrease expenses....For a few hours this morning, TechCrunch was recognized by Elon Musk’s newest plaything, Twitter, as a news organization with enough merit to warrant a highly coveted “official” d...Understanding what’s going on in orbit, now and in the near future, is increasingly important for both business and military interests, and Slingshot Aerospace has positioned itself at the ce...
