Daily Crunch: Twitter layoffs violated federal worker protections, class action claims

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Friday, and all eyes are on the vast number of Twitter employees who were unceremoniously fired, many of whom found out they lost their jobs because they couldn’t log into their email accounts when they showed up for work in the morning. ike ā€” Christine and Hadje

TechCrunch’s Top 3

  • Not enough WARNING: It’s Twitter making mass layoffsas reported by Amanda and Catherine. The company is now dealing with a class-action lawsuit alleging that Elon Musk did not provide proper legal notice when he made the said layoffs. Sarah and Ivan there is more.
  • More ways to pay: Venmo and PayPal are following the lead of Stripe and Square to start supporting Apple’s Tap to Pay on iPhone, Ivan write.
  • Pedal to the metal: Horses is in Lisbon covering the Web Summit and has this story about F1’s Toto Wolff, who said he’s looking for remote software to get that checkered flag back on his racing team.

Startups and VCs

If you run a company that ships hundreds of thousands of boxes of frozen meat around, you probably don’t want to manage every detail of your supply chain yourself. That’s what outsourcing is for – so why ButcherBox built two dry ice factories during the pandemic? It turns out that it’s a combination of de-risking and maximizing financial incentives, Hadje reports.

A commercial electric vehicle company Arrival received a warning from the Nasdaq stock market because its share price is trading too low, Rebecca reports. The company issued a press release saying it received notification that it was out of compliance with Nasdaq’s requirement that common stock trade above $1.00 per share for the 30 consecutive business days preceding the date of the notification.

And other happy news…

What investors really think about the TAM slide in your pitch deck

TC+ panel sketch at TC Disrupt 2022, "Taking the BS out of your TAM"

Image Credits: Bryce Durbin / TechCrunch

Are you ready to launch a million dollar startup? Before you start: Are you planning to build a centaur, a unicorn or perhaps a decoron?

Pitching startups has become an existential drama, in part because so many founders exaggerate the size of the total addressable market (TAM) in which they hope to compete.

“The way it’s calculated and the way the founder thinks about it doesn’t necessarily tell us about the business or its future, but how the founder thinks about starting a company,” said Deena Shakir, a partner at Lux Capital.

Three more from the TC+ team:

TechCrunch+ is our membership program that helps founders and startup teams get ahead of the curve. You can register here. Use code ā€œDCā€ for 15% off annual subscription!

Big Tech Inc.

Sorry, we have to have another day on Twitter, but we promise to include some other really great articles. first, Amanda wonders if porn is a way for the social media giant to recovered some of its losses and make more money. Meanwhile, Kyle reached out to multiple Twitter advertisers to see what their plans are in light of the Elon Musk takeover. spoiler, they stop spending.

And we have five more for you:

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