Before Elon Musk took over, Twitter had almost 7500 employees, currently there are around 2700. Also: Disney brings back Bob Iger and the slide in Coinbase shares.
Good morning! While you slept, work continued elsewhere in the digital scene.
The top topics:
The new Twitter-Chef Elon Musk fired or scared off nearly two-thirds of Twitter’s 7,500 employees in three weeks. Now the billionaire wants to bring new employees on board again, according to a report by the US medium “The Verge”. During a staff meeting, Musk reportedly said the company had completed the layoffs and was now actively recruiting again for software development and sales positions. He asked employees to recommend colleagues. The highest priority seems to be for programmers who “write great software,” as he reportedly said during the meeting. Twitter recruiters are said to have already contacted potential candidates and asked them to join “Twitter 2.0 – an Elon company”.
While answering staff questions from Twitter’s San Francisco headquarters for about a half hour Monday, Musk said there are “no plans” to move Twitter’s headquarters to Texas like he has Tesla have done, but that it might make sense to have two headquarters – one in California and one in Texas. He probably also emphasized that this was “not a right-wing takeover of Twitter”, but “a takeover of Twitter by the moderate wing”. [Mehr bei The Verge]
On start-up scene: A great strength of founders is to talk about doubts and defeats. In this respect it is due Katharina Mayer Respect. The founder of the social startup cake gossip speaks disarmingly candidly about the pain selling her company causes her in our latest episode of the How Startup podcast. Because shortly before bankruptcy, a large Munich bakery took over the startup. [Mehr bei Gründerszene]
And here are the other headlines of the night:
Disney brought former boss Bob Iger back to the top of the company. Less than 24 hours after his return, he has already announced a restructuring. In an email obtained by CNBC, Iger announced that Kareem Daniel, the company’s head of media and entertainment and right-hand man to ousted CEO Bob Chapek, is leaving the entertainment company. In the email, Iger also explained that the new structure will put more decision-making in the hands of the creative team and streamline costs. Analysts and investors welcomed the development. [Mehr bei CNBC]
Coinbase is since the collapse of the rival FTX The stock market fell sharply: On Monday, shares on the crypto exchange closed more than eight percent lower. The slide has brought Coinbase to its lowest level since the firm’s market debut in April 2021. When it went public, the company had a market cap of over $85 billion. Coinbase has since fallen below the $10 billion mark. In the last four trading days alone, the company has lost over a quarter of its value. [Mehr bei CNBC]
FTX-Ex-CEO Sam Bankman-Fried stressed in an interview with the US broadcaster CNBC that he is still trying to complete a multi-billion dollar deal to save the bankrupt crypto exchange. However, the FTX founder declined to discuss details of his crypto conglomerate’s demise. “I think we should try to give as much value back to users as possible,” he said. “I hate what happened and I really wish I had been more careful.” It has since been revealed that FTX owes its top 50 creditors more than $3.1 billion. [Mehr bei CNBC und The Information]
Zoom has reported its slowest annual revenue growth in its more than three years as a public company for the three months ended October. However, there have been some bright spots that suggest the communications platform’s business is stabilizing. The number of corporate customers increased by 14 percent. Zoom’s revenue increased five percent last quarter to $1.1 billion, while net income was $48.4 million, or $0.16 per share, compared to $340.3 million, or $1.11 per share shares in the prior-year quarter. [Mehr bei Bloomberg und The Information]
Genesis could face a liquidity crisis, according to a report by “Bloomberg”, should the crypto company fail to raise fresh capital for its lending unit. However, a Genesis spokesman told US media Techcrunch that the company has no plans to “file for bankruptcy immediately.” “Our goal is to resolve the current situation amicably without having to file for bankruptcy.” Genesis continues to have constructive discussions with creditors. [Mehr bei Bloomberg und Techcrunch]
Our reading tip on Gründerszene: Neither office nor home office – but always working from somewhere else. That wants Independesk enable. But the economic situation makes the business difficult. As can be seen from the register announcements, Independesk has filed for bankruptcy and a provisional insolvency administrator has been appointed. [Mehr bei Gründerszene]
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