Tech Brew Ride Home Wed. 01/10 – The X Post That Sent Crypto Reeling
Jan 10, 2024
A hack of the SEC's X account sparked chaos in the crypto market, misleading investors about Bitcoin ETF approvals. Meanwhile, layoffs are hitting major companies like Twitch and Humane before product launches. Exciting innovations include a new AI device designed for voice interaction and Quora's push into AI chat with their $75 million funding. The podcast also discusses a mobile app achieving rapid success and a groundbreaking initiative to speed up drug discovery in collaboration with big pharma.
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SEC X Account Hack
- The SEC's X account was compromised, leading to a false tweet about Bitcoin ETF approval.
- This caused market turmoil before the SEC clarified the situation.
Twitch Layoffs
- Twitch is reportedly laying off about 35% of its staff due to losses and executive departures.
- The company has struggled with profitability despite its focus on advertising.
Humane Layoffs
- Humane, an AI hardware startup, laid off 4% of its workforce before shipping its first product.
- The company's CTO also transitioned to an advisory role.