Blind TL;DR Edition No. 30: Week Ended June 3, 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.
A super bad feeling
Hopefully, you read your email if you work at Tesla. CEO Elon Musk told employees they must spend at least 40 hours a week working in an office—and not just any office of their choice. The location must be related to your team or job function. No-shows will be treated as resignations, and more senior team members must be more visible, Musk reminded.
In another companywide email, Musk said he had a “super bad feeling” about the economy and would lay off 10% of staff and pause hiring worldwide. Read the reactions to the memo on Blind.
Is it time to short Coinbase?
Coinbase extended its temporary hiring freeze because of the ongoing economic uncertainty. Backfills won’t be hired, and some accepted offers have been rescinded. The price of many cryptocurrencies have fallen, which has affected trading, the main source of revenue for the crypto exchange.
The move to save cash might be a sign that trading had dropped further than they expected when they first started the pause two weeks ago. Check out how many people may have been affected.
Sheryl’s out!
Mark Zuckerberg’s longtime No. 2 is out at Meta. Sheryl Sandberg, the COO and executive credited with building the company’s huge ads business, quit after getting burned out. The decision comes as no surprise to some: She’s been scaling back her public appearances and hasn’t been involved in the metaverse pivot.
Find out what verified Meta employees think—exclusively on Blind.
Are these companies recession-proof?
Investors have cut the valuations of many tech companies as interest rates and inflation continue to rise, but one industry seems to be doing better than the rest: the enterprise cloud.
Even as some companies cut jobs or stop hiring to save money, many still spend big on the cloud and data. HP, IBM, Oracle and Salesforce shares have outperformed other tech company stocks in trading this year.
Don’t miss the crowdsourced list of companies to avoid in the current climate.
The No. 3 tech hub in the U.S.
Virginia has the third-largest number of people working in the tech industry in the U.S., with more than 315,000 technologists. The workforce will only grow further once Amazon finishes building its HQ2 in Arlington. We dug into the numbers and found that software engineers can earn more than $106,000 to almost $216,000 in total compensation on average.
Get the scoop on the best-paying cities for engineers in Virginia, and learn why it isn’t Arlington.
Here’s how to crack the design interview at Google
Designers rejoice! We have a firsthand look into every step of the interview process at Google, including the portfolio presentation and design review.
Read how this Blind user got their design job at Google.
Be a newsmaker
Make an impact with your work. The top companies in the headlines are using Blind to grow. Find out how you can get an offer from some of the most innovative and fast-growing companies.
