What I read this week...

More layoffs, UK energy bailout, FTX drama continues

What I read this week…

• As Meta and Twitter lay off thousands in Bay Area, TikTok plans to double staff (The Information)

• Amazon set to lay off thousands of corporate workers (WSJ)

• FTX implodes, and top VC backer falls on its face (Bloomberg)

• Bailing out bust energy supplier Bulb will cost taxpayers £6.5B (The Guardian)

• Clean power isn’t reaching those who need it most (Bloomberg)

• The not-so-lame duck session (Vox)

• Wealth is partly imaginary (Noahpinion)

• Philadelphia DA impeached amid violent crime spike (WaPo)

• America’s Adderall shortage (Axios)

• Amazon’s new telehealth service to offer care for common conditions (WSJ)

• The unbearable lightness of BuzzFeed (The Verge)

• YouTube megastar MrBeast tops competitor in subscriber count battle (USA Today)

• Food prices are coming down — just not in time for Thanksgiving (Bloomberg)

• The world’s population just hit 8 billion⁠ – which countries are driving the most growth? (Quartz)

On Twitter…

Antonio García Martínez (agm.eth) @antoniogm

What Elon is doing is a revolt by entrepreneurial capital against the professional-managerial class regime that otherwise everywhere dominates (including and especially large tech companies), and that same PMC (which includes the media) is treating it as an act of lèse-majesté.

Carl Quintanilla @carlquintanilla

TOKYO -- SoftBank Group on Friday said it has lost all the cumulative investment gains it had made through its Vision Fund .. “Those gains peaked at $66 billion in the March quarter of 2021 ..” ⁦@NikkeiAsia⁩ ⁦⁦@knowledge_vital⁩

asia.nikkei.comSoftBank Group loses all Vision Fund gains in tech downturnMasayoshi Son says in ‘last’ briefing he will focus on growing chip company Arm

Sleepwell 🛌 @SleepwellCap

TCI (Chris Hohn) going activist on $GOOG: “We are writing to express our view that the cost base of Alphabet is too high and management needs to take aggressive action. The company has too many employees and the cost per employee is too high.” Letter: tcifund.com/files/corporat…

Pippa Stevens @PippaStevens13

"After a decade-long hiatus, US Department of Energy is focused on encouraging on-shore battery metal mining, refining and supporting technologies and materials. The IRA is just the beginning," says Morgan Stanley #lithium #cobalt #nickel #copper #aluminum #EVs #MIFTs

Phil Bak 🎩 @philbak1

The most remarkable two paragraphs ever written in human history

Latino Victory @latinovictoryus

New poll reveals, Latinos heavily lean Democrat and Florida Latino voters remain the outlier.

Elon Musk @elonmusk

Welcoming back Ligma & Johnson!

---