10 Things in Tech: Twitter enters its Musk era
Hello, friends. Investors, executives, and (basically) all Twitter aficionados are reacting to Elon Musk's purchase of the social media company, and many employees aren't thrilled.
Let's dive in.
1. It's official: Elon Musk is buying Twitter. After initially resisting Musk's takeover offer, the social media company has agreed to go private in a $44 billion deal that's expected to close in 2022. Here's what employees, investors, and others are saying:
- The deal set the internet ablaze, with Binance, Mark Cuban, Andreessen Horowitz, and the Winklevoss twins all weighing in (many of whom tweeted their support for the social media giant's new owner).
- Meanwhile, many employees aren't as thrilled. Some fear Musk's impulsive leadership style will have him forcing the company to act on "his hot takes" — and some are preparing for mass departures after the announcement.
- "It's all about Elon," one employee said. "There will be some sort of exodus event from those who do not approve of him." Here's what we learned from an all-hands meeting yesterday.
In other news:
2. We explored the hottest virtual worlds to find out what the metaverse is all about. We immersed ourselves in seven popular metaverses so we could bring you the good, the bad, and the ugly of each newfangled world. Dive into Insider's Guide to the Metaverse.
3. War was the last thing on her mind. Now a Ukrainian startup founder is running her business from bomb shelters. Before Russia invaded Ukraine, 29-year-old Alyona Mysko was on the verge of taking Fuelfinance global. But since the war started, she's had to flee her home and figure out how to work from shelters. She explains how she's made it work.
4. People are using Tinder to sell insurance policies. In an online world where the boundaries are increasingly blurred, Tinder users say they've run into people trying to grow their client bases instead of going on dates. More on the dating app's blurry boundaries.
5. A former Google recruiter shares how to land a job. Having worked with the company for five years, Jeff Sipe has a good idea of how to break in — including connecting with current employees and uploading a profile picture on your LinkedIn. Read his biggest job-hunting dos and don'ts.
6. SpaceX Starlink will work with a major airline to offer in-flight Wi-Fi. Hawaiian Airlines, in partnership with Elon Musk's internet service, will offer free Starlink internet onboard starting in 2023. Here's what you need to know.
7. There's a new CRO in town: the chief recruiting officer. This year, the software firm Gem hired early Facebook employee Richard Cho to lead recruiting, an uncommon move among startups. Here, Cho explains why companies need a chief recruiting officer.
8. A hacker stole $1 million worth of Bored Ape Yacht Club NFTs. The thief compromised the project's official Instagram account, and using a phishing link, swindled users out of their expensive NFTs. The Verge has the latest.
Odds and ends:
9. Chevrolet just confirmed an all-electric Corvette is on the way. The fully electric sports car will follow a hybrid Chevrolet Corvette that's slated to debut in the next year, the company said. Watch a video of a prototype Corvette here.
10. Facebook is opening its first-ever physical retail location. Dubbed the Meta Store, the brick-and-mortar location is designed to drum up interest in VR headsets and the metaverse, and will open near San Francisco next month. Get a sneak peek at the Meta Store.
What we're watching today:
- Alphabet, Microsoft, and others are reporting earnings today. Keep up with earnings here.
- GamesBeat Summit starts today.
- The Financial Times' Crypto and Digital Assets Summit starts today.
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- Coal sector PSUs poised to cross ₹21,030 crore Capex target for 2023-24
- Stock markets snap six-day rally; Sensex slumps over 400 points
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- Orient Technologies files draft papers with Sebi to mop-up funds via IPO