Blog

HP reports Q4 revenue down 11.2% YoY to $14.8B and Personal Systems revenue down 13% YoY to $10.3B, and forecasts a 10% drop in PC sales in FY 2023 (Brody Ford/Bloomberg)

Brody Ford / Bloomberg: HP reports Q4 revenue down 11.2% YoY to $14.8B and Personal Systems revenue down 13% YoY to $10.3B, and forecasts a 10% drop in PC sales in FY 2023  —  HP Inc. said it will eliminate as many as 6,000 jobs over the next three years amid declining demand for personal

Read More
Interviews and messages show how SBF used PACs, nonprofits, and consulting firms to woo politicians, regulators, and others to support his crypto goals (New York Times)

New York Times: Interviews and messages show how SBF used PACs, nonprofits, and consulting firms to woo politicians, regulators, and others to support his crypto goals  —  In just three years, the FTX co-founder built a massive operation to woo politicians, regulators and nonprofits to support his crypto goals.

Read More
US Senators Elizabeth Warren, Richard Durbin, and Tina Smith ask Fidelity to reconsider its upcoming Bitcoin 401(k) offerings announced in April 2022 (Camomile Shumba/CoinDesk)

Camomile Shumba / CoinDesk: US Senators Elizabeth Warren, Richard Durbin, and Tina Smith ask Fidelity to reconsider its upcoming Bitcoin 401(k) offerings announced in April 2022  —  The asset management giant said in April it would offer retail investors the option to put bitcoin in their 401(k) accounts at some point this year.

Read More
Sources: Sequoia apologized to its fund investors for the $150M it lost on FTX and told them it would improve its due diligence process on future investments (Berber Jin/Wall Street Journal)

Berber Jin / Wall Street Journal: Sources: Sequoia apologized to its fund investors for the $150M it lost on FTX and told them it would improve its due diligence process on future investments  —  Venture-capital firm tells fund investors that it will improve due diligence on future investments after $150 million loss on crypto exchange

Read More
In a bankruptcy hearing, FTX lawyers say a “substantial amount” of assets have been stolen from accounts; client names and addresses will be redacted for now (Ken Sweet/Associated Press)

Ken Sweet / Associated Press: In a bankruptcy hearing, FTX lawyers say a “substantial amount” of assets have been stolen from accounts; client names and addresses will be redacted for now  —  Lawyers for FTX disclosed Tuesday that a “substantial amount” of assets has been stolen from the accounts …

Read More
Pathmatics: over a third of Twitter’s top 100 clients, including Mars and Jeep, as well as 14 of the top 50, haven’t advertised on Twitter in the past two weeks (Washington Post)

Washington Post: Pathmatics: over a third of Twitter’s top 100 clients, including Mars and Jeep, as well as 14 of the top 50, haven’t advertised on Twitter in the past two weeks  —  More than a third of Twitter’s top 100 clients have not advertised on the platform in the past two weeks, data shows

Read More
HP to lay off 4,000 to 6,000 employees, or up to 12% of its workforce, over the next three years as part of a plan to achieve $1.4B in annualized cost savings (Denny Jacob/Wall Street Journal)

Denny Jacob / Wall Street Journal: HP to lay off 4,000 to 6,000 employees, or up to 12% of its workforce, over the next three years as part of a plan to achieve $1.4B in annualized cost savings  —  Dell warns of a worsening decline after a 17% drop in third-quarter laptop and desktop sales 

Read More
Since Elon Musk’s takeover, sources say Twitter has in some cases chosen not to pay vendors, as it reviews and renegotiates deals to cut expenses (New York Times)

New York Times: Since Elon Musk’s takeover, sources say Twitter has in some cases chosen not to pay vendors, as it reviews and renegotiates deals to cut expenses  —  Mr. Musk and his advisers are examining all types of expenses at Twitter.  Some of the social media company’s vendors have gotten stiffed.

Read More
Sources: Genesis Global has $2.8B in outstanding loans, including ~30% of its lending made to related parties like its parent company DCG (Bloomberg)

Bloomberg: Sources: Genesis Global has $2.8B in outstanding loans, including ~30% of its lending made to related parties like its parent company DCG  —  The troubled brokerage Genesis Global has $2.8 billion in outstanding loans on its balance sheet, with about 30% of its lending made to related parties including …

Read More
Facebook’s Q3 Widely Viewed Content Report: in a first, none of the top 20 posts broke platform rules; sources detail Meta’s latest fight against spammy content (Jeff Horwitz/Wall Street Journal)

Jeff Horwitz / Wall Street Journal: Facebook’s Q3 Widely Viewed Content Report: in a first, none of the top 20 posts broke platform rules; sources detail Meta’s latest fight against spammy content  —  Third-quarter content report shows only one in the top 20 posts qualified as engagement bait  —  What’s Behind Social Media Spambots and

Read More