Adobe buys Figma, Uber breaks up, and Google cuts Area 120 • TechCrunch


Hello, friends. Welcome back to The week in review, a newsletter where we quickly recap TechCrunch’s most-read stories over the past seven years. The goal? Even if you’ve had a busy week, WiR’s quick connection should keep you in the (tech) loop.

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This week was a bit all over the place, with another big story interspersed every few hours. Let’s just dive in, shall we?

most read

  • Reductions in 120 areasArea 120 is Google’s internal incubator, designed to allow Googlers with potentially big ideas to use the mega-company’s resources to turn the aforementioned ideas into something real. This week, however, Google confirmed it was cutting half of the Area 120 projects currently in development, with the incubator “shifting its focus” to AI projects. Affected employees have until early 2023 to find new jobs at Google.
  • Adobe buys FigmaIn one of the biggest tech acquisitions of all time, Adobe this week announced plans to buy collaborative/web design tool Figma for a whopping $20 billion. Figma saw funny growth throughout the pandemic as more and more technology teams moved away and adjusted their workflows accordingly. Even for a company as large as Adobe, winning back that part of the workflow would be difficult.
  • Downsizing at TwilioTwilio confirmed this week that it will cut roughly 11% of its workforce, between 800 and 900 people, as the company focuses on reaching profitability in 2023.
  • iOS 16 is live!:How is expected, iOS 16 was released for Apple devices this week. Want our thoughts on it? Find Romain’s review here. Want to know all the not-so-obvious new features hidden in the update? Check out Ivan’s listing. Many of our readers seem to be looking for interesting ways use those new Lock Screen widgets.
  • South Korea has issued an arrest warrant for the founder of Terraform Labs“A South Korean court has issued an arrest warrant for Do Kwon, the founder of Terraform Labs,” writes Manish, expanding his investigation into the crypto ecosystem, whose two tokens lost $40 billion in value in a matter of days earlier this year. “.
  • Uber hackUber confirmed late Thursday that it was “responding to a cyber security incident” after a hacker appeared to have breached the company’s internal network, with the hacker reportedly announcing their presence (and complaining about how is how Uber pays its drivers) right in Uber’s Slack.

audio summary

If you love TechCrunch for your eyes, check out TechCrunch for your ears. This week in TechCrunch podcast land, the Equity team talked about how Y Combinator has evolved in recent years A chain reaction the staff “dug out the institutional embrace of blockchains by unrelenting financial powerhouses,” and Found team hit all the “biggest hits” by revisiting an interview with Figma founder Dylan Field earlier this year.

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