Blind TL;DR Edition No. 26: Week Ended May 6, 2022
Blind TL;DR helps you stay on top of what shaped the tech industry this week in about 3 minutes. Keep tabs on the latest with insights straight from the newsmakers—technologists like you.
The end of FAANG?
Facebook-parent Meta has some problems. The company posted disappointing revenue figures this week, blaming Apple and the war in Ukraine. Because of its business challenges, the company will slow down hiring for the rest of the year. The hiring freeze affects most engineers, but the metaverse company will still hire AI and machine learning talent.
Find out what Meta employees think about the freeze.
The technoking indeed
Elon Musk made some money moves. The technoking raised $7.1 billion from big-name investors like Andreessen Horowitz, Fidelity, Sequoia Capital, the state of Qatar, and the crypto exchange Binance to help take Twitter private. The money lets the Tesla CEO reduce the loans he’d have to take out.
Once the deal closes, Elon will become the CEO of Twitter. Take a peek at technologists’ reactions on Blind.
Fintech interview drama
The fintech giant Stripe launched a new API that helps connect and aggregate customer bank accounts to online accounts. The new product is awfully similar to Plaid, which didn’t go unnoticed.
Plaid called out Stripe, suggesting the payments company had stolen the idea. Plaid’s CEO said a Stripe executive had interviewed with the company, asked many deep questions, and even sent proposal requests. Read on Blind: Did Stripe steal ideas from Plaid?
Laying off the CEO
Thrasio, which was last valued between $5 billion and $10 billion, laid off about 20% of its company. The company buys up independent sellers on Amazon and has struggled with consolidating the businesses and operations. Included in the layoffs: the CEO.
News about the layoffs appeared first on Blind. Check out the leak.
Beat the Meta hiring freeze
The best-paying city for machine learning engineers is Menlo Park, home to the headquarters of Meta, according to a new analysis from Blind. The average total compensation for machine learning engineers is almost $400,000. It gets better: Meta is still hiring machine learning engineers, despite the hiring freeze.
Check out the other best-paying cities for machine learning engineers.
Apple Park’s RTO revolt
Last month, Apple kicked off a hybrid-working pilot, and employees are not happy. The return-to-office plan started with in-office work one day a week and has now ramped up to two days. Blind found that more than three out of four verified Apple professionals are dissatisfied, and many plan to quit. Learn more about how RTO works at Apple.
Be a newsmaker
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