Elon Musk completes Twitter purchase, Meta’s in trouble and it’s time to admit self-driving cars ain’t gonna happen • TechCrunch
Hey, folks, welcome back to another edition of TechCrunch Week in Review, the place where we point you to the hottest stories of the past sevenish days. I’m stepping in front of the laptop for Greg Kumparak this week, but don’t fret, he will be back soon.
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most read (Elon edition, somewhat)
Elon did it: He bought Twitter. The $44 billion acquisition closed this week and on day 1, the platform’s new owner “cleaned house,” Taylor and Amanda write, firing CEO Parag Agrawal, CFO Ned Segal and head of legal, policy and trust Vijaya Gadde. The purchase capped off months of ups and downs, and this week was no different. Darrell rounded up some highlights.
Elon’s layoff about-face: While Elon Musk immediately fired some folks at the top, earlier this week in a reversal from his layoff declaration last week, he said he won’t actually lay off 75% of Twitter’s staff — or 5,600 people — writes Rebecca, citing a Bloomberg report.
Apple’s Elon problem: Darrell’s headline says it all, really: “Twitter’s Elon problem could soon become Apple’s Elon problem, too.” At issue is that Apple updated its developer guidelines this week, one of which “seeks rent on revenue made by social networks around promoted posts.”
Argo AI shutdown: Autonomous vehicle startup Argo AI, flush at launch in 2017 with $1 billion, has shut down. Its parts, writes Kirsten Korosec, are “being absorbed into its two main backers: Ford and VW.”
Speaking of autonomous vehicles: After the Argo AI news hit, Darrell took to the site to explore the fact that, no, autonomous vehicles just aren’t going to happen.
MrBeast’s worth: Amanda asks if MrBeast, or 24-year-old YouTuber Jimmy Donaldson, is worth the $1.5 billion he’s valuing his business at.
Meta is in trouble: That’s the headline. Meta reported its third-quarter results this week and they weren’t great. As Taylor writes: “With the Instagram portion of the business not looking so hot lately, Meta has quintupled down on the metaverse without examining if it even knows what users want at all these days. And after changing the name of the company while ruining a perfectly fine word in the process, there are no easy take-backs.” Meta really was a perfectly fine word.
Google Pixel 7’s “dumb” flaw: Haje took a picture through an airplane window and noticed a reflection caused by the reflective chrome surrounding the phone’s camera lens. “It’s a pretty common use case for most photography applications, which makes it all the harder to grok why Google went out of its way to make that experience worse.”
- On Equity this week, we share with you one of Natasha Mascarenhas’s Disrupt panels. She talked to Chief co-founders Lindsay Kaplan and Carolyn Childers about the future of their private membership club for women in leadership positions.
- This week on Found, Darrell and Jordan sat down with Shanthi Rajan from construction management software company Linarc to discuss breaking into a slow-changing industry, building a team with talent across the globe and working with customers to build the most useful product possible.
- And on Chain Reaction, Anita and Jacquelyn chat about Apple’s new App Store guidelines, Reddit’s foray into the NFT space and whether the U.K.’s new prime minister will live up to the hype he’s received from the crypto community.
5 tips for launching in a crowded web3 gaming market. Contributor Corey Wilton explains the steps that will set you apart when looking for capital.
Pitch Deck Teardown: Palau Project. Haje usually passes on tearing down pre-seed rounds, but he went for it this week with the Palau Project, which was founded by professional kite-surfer Jerome Cloetens, who is taking on climate change.