Hello DawentsIT Readers! and Happy Tuesday, I’m DawentsIT.
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ALL THINGS TECHNOLOGY NEWS YOU NEED TO KNOW
1.The push to cut middle managers will backfire on tech. Companies like Amazon, Meta, and Salesforce embarked on cost-cutting efforts that “flattened” org charts by removing middle managers, starting a trend across Silicon Valley.
–Middle managers, or what Meta CEO Mark Zuckerberg calls “managers managing managers,” saw their roles shrink in the past year as tech companies focus on “individual contributors,” increasingly requiring managers to do coding work themselves.
–This all comes as several tech CEOs and prominent VCs complained about tech workers doing what they consider “fake work.” But losing middle managers could also impact team morale and how employees look at their futures in the company.
–My teammate Paayal Zaveri details how the “flattening” trend may bring cost efficiencies in the short term, but will create more problems for organizations in the long run.
In Other News:
2.Elon Musk is moving forward with a new generative AI project at Twitter after purchasing thousands of GPUs. It comes despite Musk recently signing an open letter calling for an industry-wide halt to any AI training for several months.
3.Police scanner reveals Bob Lee’s 911 call. Cash App founder Bob Lee, who was fatally stabbed in San Francisco last week, reportedly called 911 for help in audio obtained from a recording of the police dispatcher.
4.Read this before signing your severance agreement. Tech layoffs are still happening, so make sure you consider these five things before signing on the dotted line.
5.Twitter users wonder if Steve Jobs was bitcoin creator Satoshi Nakamoto. A blogger’s discovery of a hidden bitcoin manifesto on Apple’s Mac computers is fueling theories that Jobs may be the mysterious creator of bitcoin.
6.Welcome to Titter HQ. Twitter CEO Elon Musk painted over the W on Twitter’s sign at its San Francisco headquarters, changing it to “Titter,” in the latest move in Musk’s feud with the building’s landlord.
7.This OnlyFans star went from health worker to making more than $1 million on the app. OnlyFans creator Farrah detailed how she took advantage of the app’s premium subscriptions to earn $1 million in just two years.
8.Amazon salaries revealed. We’ve analyzed how much engineers, data scientists, and thousands of other employees were paid prior to recent layoffs.
Odds and Ends:
9.Fyre Festival is the gift that keeps on giving. Billy McFarland, creator of the disastrous island getaway that inspired a thousand memes, wants to know why you should get an invite to Fyre Festival part two.
10.The University of California lost hundreds of millions from investments. UC Investments, the investment arm of the public University of California, saw its returns from venture capital investments fall last year.
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