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📉 Microsoft to lay off another 9,000 employees
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- Microsoft is laying off about 9,000 employees, which affects less than 4% of its global workforce across different teams, geographies, and levels of experience.
- The announcement follows several previous cuts this year, including the elimination of over 6,000 jobs in May and at least 300 more just last month.
- The company stated it wants to reduce the number of layers of managers that stand between individual contributors and the company's top executives.
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🤖 X to let AI fact-check your posts
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- X will start using AI agents to write drafts for Community Notes, a move to speed up its fact-checking and make the program available to more people.
- The AI-created notes only go public if people with different viewpoints review the drafts and rate the content as helpful, following the same human-approval process.
- Developers can soon submit their own AI agents for review, and the bots can run on any technology, not just the company’s own Grok model.
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⚔️ Altman slams Meta: 'Missionaries will beat mercenaries'
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- Sam Altman called Meta's recruiting efforts "distasteful," telling his team the move will create very deep cultural problems for the competing social media giant.
- He stated that "missionaries will beat mercenaries," claiming the rival firm failed to hire its top targets and had to go far down its list.
- The OpenAI CEO also revealed he is assessing compensation for the entire research organization, arguing its stock holds significantly more upside than the competition's.
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🏦 Tech billionaires launch new bank for startups
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- Tech billionaires Palmer Luckey and Joe Lonsdale are launching Erebor, a new bank to serve startups and crypto firms that traditional lenders often reject.
- The venture has filed for a national bank charter to provide traditional banking products and give credit to companies that are not well served currently.
- Stablecoins are expected to be a major part of Erebor's operations, as it wants to become a highly regulated entity for facilitating these transactions.
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💰 Google to pay $314M for ‘stealing’ mobile data
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- A California court has ordered Google to pay over $314.6 million after a jury found the company liable for sending information from idle Android devices.
- The lawsuit claimed Google programmed phones to transfer data to its servers when not connected to Wi-Fi, using cellular plans customers were paying for.
- This collected information was allegedly used to build more targeted digital advertising for the tech giant and expand its own mapping credibility, the suit states.
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📈 Figma is going public
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- Figma is going public and has published its S-1 paperwork, detailing company financials after confidentially filing original plans with the SEC on April 15th.
- Its first-quarter revenue grew 46% to $228.2 million year-over-year, while net income increased to $44.9 million from $13.5 million a year earlier.
- The IPO follows a failed $20 billion acquisition by Adobe, which was blocked by regulators and resulted in Figma receiving a $1 billion termination fee.
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