Hi folks, welcome back to another edition of australiabusinessblog.com Week in Review, where we point you to the hottest stories from the past seven days. I step in front of the laptop Greg Kumparaki this week, but don’t worry, he’ll be back soon.
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most read (Elon edition, somewhat)
Elon did it: He bought Twitter. The $44 billion acquisition closed this week, and on Day 1, “the platform’s new owner cleaned the house,” Taylor and Amanda write, adding CEO Parag Agrawal, CFO Ned Segal, and chief of legal, policy and trust Vijaya. Fire Gadde. The purchase capped off months of ups and downs, and this week was no different. Darrell has rounded up some highlights.
Elon’s resignation over-face: While Elon Musk immediately fired some people at the top, earlier this week in a reversal of his resignation notice last weekhe said he won’t actually fire 75% of Twitter’s staff — or 5,600 people — Rebecca writes, citing a Bloomberg report.
Apple’s Elon Problem: Darrell’s headline basically says it all: “Twitter’s Elon problem may soon become Apple’s Elon problem.” The point is that Apple this week updated its developer guidelines, one of which “seeks rent on social network revenue around promoted posts.”
Exit Argo AI: Autonomous car startup Argo AI, equivalent to $1 billion at launch in 2017, has been shut down. Its parts, Kirsten Korosec writes, “will be absorbed into the two main lenders: Ford and VW.”
Speaking of autonomous vehicles: After the Argo AI news, Darrell took to the site to investigate that, no, autonomous vehicles just aren’t going to happen.
MrBeast is worth it: Amanda asks if MrBeast, or 24-year-old YouTuber Jimmy Donaldson, is worth the $1.5 billion he values his company on.
Meta is in trouble: That’s the headline. Meta reported its third quarter results this week and they weren’t great. As Taylor writes, “Because the Instagram portion of the company doesn’t look that popular lately, Meta has quintupled on the metaverse without examining whether it even knows what users want these days. And after changing the company’s name and ruining a great word in the process, there are no easy takebacks.” meta was a really good word.
Google Pixel 7’s “Dumb” Flaw: Haje took a photo through an airplane window and saw a reflection caused by the reflective chrome around the phone’s camera lens. “It’s a pretty common usage for most photography applications, which makes it all the more difficult to understand why Google went out of their way to make that experience worse.”
- on Equity this week we’re sharing one of Natasha Mascarenhas’ Disrupt panels with you. She spoke with Chief Co-founders Lindsay Kaplan and Carolyn Childers about the future of their private membership club for women in leadership positions.
- This week on Found itDarrell and Jordan sat down with Shanthi Rajan of construction management software company Linarc to talk about breaking through in a slowly changing industry, building a team of talent around the world, and partnering with clients to build the most useful product possible.
- And further chain reactionAnita and Jacquelyn talk about Apple’s new App Store guidelines, Reddit’s foray into the NFT space, and whether the UK’s new Prime Minister will live up to the hype he’s received from the crypto community.
5 tips to get started in a crowded web3 gaming market. Contributor Corey Wilton explains the steps to differentiate yourself when seeking capital.
Break down deck: Palau Project. Haje usually goes on to tear down pre-seed rounds, but this week he went for it with the Palau Project, founded by professional kitesurfer Jerome Cloetens, which is tackling climate change.