Twitter's head of trust and safety and the company's interim head of advertising have both left the company, Axios has learned. Both appeared Wednesday with Elon Musk on a Twitter Spaces chat designed to calm advertisers.
Why it matters: Their departures cap off one of the most chaotic days in Twitter's short history under Musk.
Red-hot mobile game Marvel Snap is riding a wave of praise — with the card-battling game drawing kudos as one of the most fun releases of the year as well as for its infrequent requests for players to spend money.
Why it matters: So-called “free-to-play” mobile games, popular as they may be, are notorious for nickel-and-diming players.
Elon Musk Wednesday night warned the Twitter staffers who remain after massive layoffs that unless they boost subscription income, the company is at risk.
What's happening: In a midnight email to staff, his first since taking control of the company two weeks ago, Musk also issued a new back-to-the-office mandate that, according to sources inside Twitter, will cause many employees to quit.
Dozens of venture capitalists yesterday logged onto a Zoom call with FTX CEO Sam Bankman-Fried, to learn more about the crumbling crypto exchange into which they'd invested around $2 billion.
Why it matters: Less than an hour after the call ended, Binance tweeted that the deal was dead.
Tether's stablecoin, and the US dollar it's supposed to be pegged to, briefly diverged on select crypto exchanges in an echo of market turmoil that followed the collapse of Do Kwon's Terraform Labs in May.
Why it matters: Contagion. FTX.com's insolvency and the threat of it going bankrupt is rippling throughout the crypto market, putting a dent in tokens from bitcoin to solana and now, USDT.
Audi dealers are starting to collect household electronics such as old laptops and phones so they can be recycled into electric car batteries.
Why it matters: With global demand for lithium-ion batteries expected to grow by more than 500% in the next decade, it's one way to help seed creation of a domestic battery supply chain as envisioned under the climate, health cost reduction and tax law enacted in August.
California voters rejected a measure Tuesday that would have taxed wealthy residents to fund the state's ambitious electric vehicle (EV) transition.
Why it matters: The measure, called Proposition 30, was the midterms' highest-profile vote tied directly to the generational shift toward cleaner cars.
Paul Allen's art collection fetched more than $1.5 billion at Christie's New York on Wednesday evening — part one of a two-day auction of works owned by the late Microsoft co-founder.
Why it matters: The $1,506,386,000 reached for the 60 works owned by Allen obliterates the previous record for the most valuable private collection ever auctioned, set when divorcing spouses Harry and Linda Macklowe sold their artworks for $922 million last year.
Venture capital firm Sequoia Capital on Wednesday sent a letter to investors about its investment in FTX, the global crypto exchange that suddenly collapsed after being valued at over $30 billion.
Why it matters: Sequoia is arguably the most successful venture capital firm ever, having made early investments in such companies as Apple, Google and Airbnb. This episode is a rare black eye, leaving both the firm and its limited partners scrambling for information.
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