What happened at Snap's all-hands meeting, which came just after mass layoffs
We've got an inside look at what went down at Snap's all-hands meeting, which came just after news of layoffs at the Snapchat maker.
Let's take a look.
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Photo by Snap, Inc./Getty Images for Snap, Inc.
1. Inside Snap's all-hands meeting. At the company-wide meeting, which came just after news that Snap was slashing staff and shuttering projects, CEO Evan Spiegel stunned employees, saying the major reorganization presented an opportunity.
- The Snapchat maker had a rough week, as it announced — along with layoffs — that projects like its startup accelerator program are being shuttered, along with apps it acquired.
- Losing about 20% of their colleagues this week in a mass layoff means Snap has a chance to "prove the haters wrong," Spiegel said on the call, a sentiment that was not well received, according to employees in attendance.
- Employees who survived the layoffs are receiving additional restricted stock awards to get their compensation back up to the value they were at when first granted.
What else happened at the all-hands meeting.
In other news:
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2. Twitter is finally testing an edit button. Two years after Jack Dorsey said it would "probably" never happen, the social media company is starting to let employees and Twitter Blue subscribers test out the feature. How it works — and how to be first in line to use it.
3. A leaked recording reveals the moment Amazon decided to go big on the new "Lord of the Rings" series. The "enormous" success of Amazon's Prime Video original content in 2018 helped the company decide how far it wanted to go with its investment in original programming. What we learned from the leaked recording.
4. Apple is set to unveil new products next week. Although nothing is set in stone, Apple is expected to announce the iPhone 14 and Apple Watch Series 8 on Sept. 7. Everything to know ahead of the big event.
5. Some VMware partners say they're optimistic about the $61 billion Broadcom buyout. Insider spoke with several VMware partners, who said they view the seismic buyout as an opportunity to cozy up to customers who fear they'll get lost in the deal's fallout. Here's what else they told us.
6. Elon Musk subpoenaed his alma mater, which he attended for two days. Musk's legal team subpoenaed Stanford University, which he briefly attended in 1995, over an "email account." The move is Musk's latest in his battle with Twitter. Get the full rundown here.
7. Meet the most influential Microsoft execs powering its advertising business. As Microsoft steps up its advertising ambitions, Insider is highlighting the most influential executives driving the push. Get to know 14 of Microsoft's most influential ad execs.
8. Meta is exploring paid features for Facebook and Instagram. According to the Verge, an internal memo sent to employees discussed an organization that would build "possible paid features" for the apps. Read the full report.
Odds and ends:
Noam Galai/WireImage/Getty Images
9. Need something to do tomorrow? See a movie for $3. For the first-ever National Cinema Day, movie tickets will be a fraction of their normal price at Regal, AMC, and other theaters tomorrow. Here's what you'll need to know.
10. Speaking of movies: We outlined the 10 best films coming to Netflix this month. Classics like "A Clockwork Orange" and "The Notebook" will be added to the streamer, as will Netflix original "Blonde," which recounts the life of Marilyn Monroe. See the full list here.
The latest people moves in tech:
- Karen Egan, VMware's vice president of global support, is leaving the company after 15 years.
- Y Combinator's all-star alum and VC Garry Tan is taking over the accelerator as its chief executive.
- Per Variety, Robert Kyncl is stepping down as YouTube's chief business officer.
- Netflix has tapped two Snapchat execs as its first advertising leaders, AdAge reports.
- Porsche chief Oliver Blume replaced Herbert Diess as the CEO of Volkswagen.
Keep updated with the latest tech news throughout your day by checking out The Refresh from Insider, a dynamic audio news brief from the Insider newsroom. Listen here.
Curated by Jordan Parker Erb in New York. (Feedback or tips? Email jerb@insider.com or tweet @jordanparkererb.) Edited by Hallam Bullock (tweet @hallam_bullock) in London.
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