Blind TL;DR Edition No. 12: Week Ended Jan. 28, 2022
Blind TL;DR helps you stay on top of what shaped the tech industry this week in about 3 minutes. Keep tabs on the latest with insights straight from the newsmakers—technologists like you.
IPO in an instant
Gopuff is one step closer to an IPO. The munchies-delivery app hired investment banks to work on an expected public market debut, which could value the company at more than $15 billion.
But it’s not all good news: The company recently laid off 100 people in its operations and warehouse teams to help control costs before the IPO later this year. The job cuts mostly hit district managers who oversee warehouses and HR teams.
Find out which other companies have rescinded offers or cut jobs on Blind.
What happened to the day-traders?
One year after meme-stock mania, Robinhood is licking its wounds. The trading app disappointed Wall Street with its latest quarterly earnings report.
Shares of Robinhood fell 15% Thursday after they announced fewer monthly active users, declining revenue from crypto, and a larger-than-expected net loss. Check out the discussion of Robinhood’s earnings call on Blind.
The end of antiwork?
The popular Reddit forum r/antiwork went offline earlier this week after a Fox News interview. The cringe performance by one of the moderators, which included saying laziness is a virtue, frustrated many users of the more than 1.7-million-strong community. The subreddit has since been reopened and with new management. Read the run-down and reactions on Blind.
JK?
It looks like NVIDIA might not be buying Arm after all. The chip-maker is frustrated that its $40-billion deal is struggling to get the necessary approvals for the acquisition. Last month, the U.S. government sued to try to block the deal.
But there might be a consolation prize: Arm, owned by SoftBank, is also taking steps toward an IPO.
If you’re curious, here’s what NVIDIA offers look like now.
Here’s why you can’t buy a house
If you’re striking out at open houses in Austin, you’re not alone. Long gone are home prices less than $500,000 or rents below $1,500 per month in the Texas state capital, and it’s only getting worse. Land prices keep rising, and new housing development is slow.
Tech isn’t helping either. A Blind user explains it’s “easy” to get paid $200,000 or more in Austin.
Bitcoin’s free fall
Many cryptocurrencies continue to see new lows. The price of bitcoin is down more than 20% this year, and other coins aren’t doing better. But it might be foolish to count out working in crypto.
Coinbase continues to happily pay out sky-high comp packages, including one job offer of almost $1 million this week. Here’s everything you might want to know about total compensation at crypto firms.
Be a newsmaker
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