Blind TL;DR Edition No. 51: Week Ended Oct. 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.
Bye, bye, bye!
Elon Musk now owns Twitter, and the technoking knows how to make an entrance. After firing the CEO, CFO, and the company’s two top lawyers, he is the new CEO of the Big Blue app.
Twitter will soon be a private company. The social media company’s last day on the NYSE will be Nov. 8.
Check out the reactions to Elon’s early moves—only on Blind.
Goodbye, $700 billion!
Mark Zuckerberg needs his bet on the metaverse to pay off because reality sucks. Meta has lost $700 billion in market value this year due to its increased spending on virtual reality and lower ad revenue. After reporting earnings and telegraphing another decline next quarter, the company’s shares dropped almost 19% earlier this week.
Find out what technologists have to say about Mark going all-in.
Everything is super
Zillow wants to build a super app for housing, and it’s laid off 300 people to do so. The online real estate marketplace said it would focus on tech roles from now. Despite increasing interest rates and worsening housing affordability, the company said it shed the jobs for “normal” reasons and not because of the economy.
Read more about the layoffs on Blind.
Shut down
Thousands of employees at Argo AI might have lost their jobs this week. The autonomous vehicle startup shut down this week, and Ford and VW will pick up the scraps, including Argo’s technology. Only a few employees received job offers at one of the carmakers, although everyone will earn two bonuses and health insurance coverage.
More tech layoffs next week
You can’t say they didn’t warn you! Intel told shareholders and employees that the chipmaker would announce layoffs in the next two weeks. The company has struggled with high costs, low margins and disappointing forecasts.
See what’s going on in the chip industry.
Are you willing to take a bet?
Stock-based compensation can be life-changing. Thousands of millionaires have been made in the tech industry thanks to equity. Some professionals might find the current state of the stock market to be the perfect time to make a move and earn a lot of equity at low prices.
If you’re the betting type, you might want to look at Blind’s analysis of the most equity-heavy total compensation offers. Take a peek at the top 10 best-paying equity companies.
Be a newsmaker
Make an impact with your work. The top companies in the headlines are using Blind to grow. Find out how you can get an offer from some of the most innovative and fast-growing companies.