Amazon layoffs begin, Ticketmaster can't handle Taylor Swift, and much of Twitter HQ is leaving

Hello again! It’s time for another edition of Review of the week, the newsletter where we summarize the week’s most read TechCrunch stories in one quick, easy-to-view shot. Get it in your inbox every Saturday morning by by registering here.

(There won’t be a newsletter next Saturday because I’ll be thankful/eating leftovers/thankful for leftovers, but we’ll be back to our regularly scheduled weekend programming after that.)

If you read last week’s edition, you’ll notice some echoes here: more redundancies, more FTX drama, and more absurdity on Elon’s Twitter. Let’s dive in!

Greg

most read

Mass resignations on Twitter: After firing thousands of Twitter employees over the past few weeks, Elon has issued something of an ultimatum to the rest: commit to being “extremely hardcore” as “part of the new Twitter” or quit with three months’ severance… and, well, a lot people have taken door number 2. It’s not clear at this stage (even on Twitter, it seems) how many have refused the ultimatum, but all indications are that there were hundreds/thousands.

SBF DMs: For some reason, the founder of FTX — the once massive crypto exchange that collapsed last week — decided to do an impromptu interview with a Vox reporter via DM. Seemingly without any agreement that any of this was off the record, said DMs were, of course, quickly posted. His biggest regret in all of this? Weird, filing for bankruptcy.

Evernote is being purchased: Evernote was once something of an App Store darling — an early example of the company’s design, quality, and leadership. Then, after a series of pricing/privacy/design changes that infuriated the user base, it just… faded away. This week, the company was acquired by Italian app developer Bending Spoons, in what Kyle Wiggers calls “the end of an era.”

Amazon cuts: Rumors suggest layoffs are coming at Amazon, with some estimates suggesting over 10,000 will be let go. The layoffs began this week, with CEO Andy Jassy writing in a memo that the layoffs will continue into next year.

Ticketmaster face plants: Tickets for Taylor Swift’s first tour in years went on pre-sale this week, and Ticketmaster, the website nobody on earth likes to use, couldn’t keep up with the Swifties. Things went so wrong with the closed presale that the planned public sale was canceled altogether. You know your site downtime is bad when reignites the political fire to break your company’s overwhelming dominance.

audio summary

Podcasts! We have them! People seem to like them! Or many people just download/subscribe to inflate our collective egos. That’s good too. Here’s what’s been happening on the TC podcasts lately:

  • Live from our TechCrunch sessions: A crypto event during one of the wildest crypto weeks in ages, Chain Reaction Crew “ripped off the script” and told all about Sam Bankman-Fried’s “surreal, absurd” DM conversation with Vox.
  • What does the corporate communications team do? The Teams team sat down with two highly experienced communications people to learn how this whole behind-the-scenes machine works.

TechCrunch+

Two states received 80% of the venture funds raised: “In the third quarter of 2022, US ventures raised $150.9 billion across 593 funds,” writes Rebecca Shkutak. Where did it all go? Rebecca breaks down the stats.

A look at Sateliot’s A-series deck: 90% of the planet has no cellular connectivity. What if you need an IoT device to call home from, say, the middle of the ocean? That’s the idea behind Sateliot, which raised an $11.4 million Series A earlier this year. The company shared the pitch deck it used to build with our resident pitch expert Hae Jan Kamps, who explored the “pros and cons of this high-flying space deck.”

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