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Hard Fork

A Verified Mess: Turmoil from Twitter to FTX

Hard Fork

The New York Times

Technology

4.35.7K Ratings

🗓️ 11 November 2022

⏱️ 53 minutes

🧾️ Download transcript

Summary

This week, we go inside Elon Musk’s “dire” warnings, FTX’s spectacular collapse and Meta’s big layoffs. Has the tech industry lost its mind? “Hard Fork” listeners: We want to hear your questions about the tech industry. Send them to hardfork@nytimes.com. Also, check us out on TikTok: @hardforkpod.

Transcript

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0:00.0

Have there been any changes at Twitter in the last five minutes?

0:04.0

Let me see the last five seconds.

0:07.0

This is how hard it is to keep up with this news.

0:09.0

We can't even stop to podcast for one hour without this man hopping on spaces and reek and have it.

0:19.0

I'm Kevin Rousse. I'm a tech columnist at The New York Times.

0:22.0

And I'm Casey Newton from Platformer. And you're listening to Hard Fork.

0:25.0

To me on the show, Twitter continues to melt down, with the collapse of FTX means for the future of crypto,

0:32.0

and what to make of the layoffs across the tech industry.

0:36.0

Is this fun?

0:38.0

Well, Kevin, I do enjoy seeing you on Thursday nights. I would like to begin seeing other people.

0:44.0

So I won't take offense to that. In fact, I feel much the same way.

0:49.0

All right. So Casey, what has happened at Twitter since last week?

1:06.0

Well, the first thing, which you know, is that the layoffs happened.

1:09.0

And they were as severe as had been predicted.

1:12.0

So about five minutes ago, I was going to be like,

1:16.0

I'm not sure as severe as had been predicted. So about 50% of the company in one fell swoop just got sort of wiped out.

1:23.0

And it led to just a ton of confusion that took days and days to play out.

1:27.0

Right. Including one of the people that we spoke to on last week's episode was laid off.

1:32.0

But not both.

1:34.0

That's right. And you know, like each one of these stories is super sad.

1:37.0

Of course, some people were bracing for it. Some people sort of expected it.

1:40.0

And we're happy to not be part of the company anymore.

...

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