Amazon to cut 9K more jobs, FDIC splits SVB's assets, Netflix's ad tier hits 1M MAUs
Amazon to cut 9K more jobs, FDIC splits SVB's assets, Netflix's ad tier hits 1M MAUs
Amazon to cut 9K more jobs, FDIC splits SVB's assets, Netflix's ad tier hits 1M MAUs
Amazon will cut 9K employees in its AWS, advertising, Twitch, and HR segments; this follows the company letting go of 18K workers between November and January - Link
After failing to find a buyer, the FDIC will split up Silicon Valley Bank’s assets and hold two separate auctions for the bank’s traditional deposits and its private banking operation - Link
Bloomberg sources: Netflix’s ad-supported tier has hit 1M MAUs after launching in November while fulfilling its forecasted deliveries to advertisers - Link
Runway, a NY-based generative AI startup, launched its Gen 2 system, which generates 3-second clips via text prompts; users can sign up for the waitlist in Runway’s Discord - Link
Compliance and security shouldn’t be a deal-breaker for startups to win new business. Vanta makes it easy for companies to get a SOC 2 report fast. Go to vanta.com/twist for $1,000 off for a limited time only.
Rachel Reporting joins Jason for the news! First, they give an update on the banking crisis and how it’s impacting startups (1:34). Then, they cover Balaji’s huge Bitcoin bet and his predictions for the future (14:17) before breaking down OpenAI’s launch of GPT-4 (35:07). Finally, Jason wraps up with some Jay Trading updates (57:28)! - Link
TikTok confirmed that it now has 150M MAUs in the US, up from 100M in 2020; CEO Shou Zi Chew will testify in front of the House Energy and Congress Committee on Thursday - Link
CapCut, ByteDance’s video editing app, has more than 200M global MAUs since launching in 2020; the app grew 43% y/y in 2022, garnering more than 400M global downloads - Link
Microsoft is planning to launch its own mobile gaming app store for iOS and Android phones as soon as next year if its $75B Activision Blizzard acquisition is approved and the EU’s Digital Markets Act goes into effect - Link
Aembit, a Maryland-based cybersecurity startup, raised a $16.6M seed round from Ballistic Ventures and Ten Eleven Ventures; Aembit’s co-founders have worked together for 17 years and brought two prior startups to exits - Link
E1702: Balaji’s $1M Bitcoin bet, banking crisis update, OpenAI launches GPT-4, and Jay Trading!
E1701: ANGEL: Laurie Yoler on investing early in Tesla, strategic partnerships, and her VC career
E1700: Banking crisis impact, more Meta cuts, and GPT-4 with Sunny Madra and Vinny Lingham
E1699: Andy Rachleff on SVB, how to evaluate VCs, market pull indicators, Wealthfront, and more
E1698: How ocean farming can solve world hunger with Alora CEO Luke Young
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