August 4, 2022
Photo illustration: Getty Images; Facebook; Protocol
Good morning! Meta’s top execs are moving to London. Is it a coincidence, or is something else going on?
The Financial Times reported that Adam Mosseri was moving temporarily to London. Then another report said Nick Clegg will go there, too. Oh, and Meta’s CMO, Alex Schultz, joined them. And who knows who might be next!
So why are three top Meta execs moving to London? Everyone’s tossing out answers, from embracing remote work to being closer to friends and family (Clegg’s from the U.K.).
Maybe they’re moving because of a mix of all these things. But it’s clear that Silicon Valley doesn’t have the chokehold on Meta that it's had before.
— Sarah Roach
Do you have any insight into why executives are heading to the U.K.? Reply to this email or send me a note directly; I want to hear your thoughts.
Screw the metaverse and virtual money. Tinder’s focusing on subscriptions.
Tinder is dropping plans for users to date in the metaverse or buy virtual currency, according to Match Group CEO Bernard Kim’s letter to shareholders. Instead, it’ll focus on subscriptions.
Is Tinder worried about paying subscribers falling in love, deleting the app and never looking back? When it comes to dating apps, losing customers isn’t bad at all. In fact, people unsubscribing could benefit the bottom line, too.
The key with subscriptions is to make them so convenient that users can’t deny paying a little cash. And if Tinder can make its dating experience that much easier and better with an app subscription, the new users will keep coming, even if the old ones move along.
— Sarah Roach
Chip shortage could undermine national security: The global shortage of semiconductors has impeded the production of everything from pickup trucks to PlayStations. But there are graver implications than a scarcity of consumer goods. If the U.S. does not ensure continued domestic access to leading-edge semiconductor manufacturing, experts say our national security could suffer.
Working around people’s schedules to set up meetings burns up time and productivity. Automation can help.
GoodTime.io offers enterprise software that automates workplace processes like meeting and interview scheduling.
GoodTime, and others like it, flourished in the pandemic’s early days. And amid the hiring frenzy of 2021, automating the process “became really, really important,” Moon said. But amid the downturn, things are looking hazy.
After the pandemic-related downturn and spike in unemployment in early 2020, hiring bounced back after a few quarters. Though companies are shedding employees now, Moon said, “everyone is telling me that, based on their experience in 2020, within a quarter or two they’re going to have to hire like crazy again.” Now might be the best time to automate workflows — before the next wave hits.
To read the full interview, click here.
— Nat Rubio-Licht
Yuga Labs co-founder Greg Solano is frustrated with Ryder Ripps’ allegations against BAYC:
Thoma Bravo bought Ping Identity, an enterprise identity management company, and will take it private for $2.8 billion.
Binance co-founder Yi He will take over Binance Labs, the company’s venture capital arm.
Aparna Chennapragada is leaving Robinhood as chief product officer. Chennapragada joined the company from Google a little over a year ago.
Andrew Sneyd is FanDuel’s new EVP of marketing. Sneyd was the VP of brand marketing and strategy at Priceline before FanDuel.
David Spirk joined Palantir as a senior counselor focused on U.S. government and international business. Spirk was the defense department’s first chief data officer.
Fritz Lanman is Mindbody’s new CEO. Lanman will still hold his position running ClassPass.Doug Adamic is Brex’s new CRO. Adamic most recently held the same role at Concur.
Twitter gave money to the Republican Attorneys General Association for the first time in June. RAGA's a political committee that takes funds to "combat the Democrats' pro-abortion agenda."
Tesla's planning a 3-for-1 stock split during its shareholder meeting today. It wouldn't affect Tesla's market value.
WeWork offices are getting busy again. They were 72% full by the end of the second quarter, which is about the same occupancy levels as before the pandemic.
The Chips Act gives $1 billion to carbon removal researchin the energy department,more than double the existing budget.
SoundCloud is laying off up to 20% of its employees because of "the challenging economic climate and financial market headwinds."
Triller influencers say they’re struggling to get paid. Triller promised creators good money, brand deals and even stock in the company, but many say that the company didn’t follow through.
Details of Elon Musk’s countersuit of Twitter need to be made public by Friday, the presiding judge ruled.
Wikipedia doesn’t want everyone editing its “Recession” page. It’ll only accept updates to the page from unregistered users after they go through an editor.
Facebook is axing its livestream shopping feature starting in October so it can focus more efforts on Reels.
The Wall Street Journal wrote a list of steps parents can take to get their summer-lazy kids “off screens and ready for school.” But these tips might actually help … everyone? Here are some highlights:
Chip shortage could undermine national security:To ensure American security, prosperity and technological leadership, industry leaders say the U.S. must encourage domestic manufacturing of chips in order to reduce our reliance on East Asia producers for crucial electronics components.
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