Hello again! Welcome back to Week in Review, the newsletter where we quickly summarize the top stories from todaybusinessupdates.com dot-com this week. Every Saturday in your inbox? Register here.
Is Facebook for old people? If you have a teenager in your home, you’ve probably heard them say the same thing. The most read story this week is on a Pew study suggesting that this generation of teens has largely abandoned the platform in favor of Instagram/YouTube/TikTok/etc.; while about 71% of teens used Facebook in 2014, the study says that number has dropped to 32% by 2022.
Mark Cuban indicted for promoting crypto platform“A group of Voyager Digital customers filed a class-action lawsuit in Florida federal court against Cuban, as well as against the basketball team he owns, the Dallas Mavericks,” writes Anita, “claiming that their promotion of the crypto platform resulted in more than 3.5 million investors together lose 5 billion dollars.”
A disturbing layoff trend: While tech layoffs may hopefully show signs of slowing down, Natasha M points to a troubling trend: Some companies are announcing layoffs just to announce another layoff just weeks or months later.
SpaceX launches first moon mission in South Korea: South Korea has launched its first-ever lunar mission — a lunar orbiter “launched atop a SpaceX Falcon 9 rocket” ahead of plans to land on the surface sometime in 2030.
Twilio gets hacked: While it’s unclear exactly what data was stolen, Twilio says at least 125 customers’ data was used after some of its employees were tricked “to hand over their company credentials” by an intense phishing SMS attack.
Amazon’s Bizarre New Show: Think ‘America’s Funniest Home Videos’, but with user-submitted footage from Ring security cameras. By now most people probably realize that every step is captured on a security camera or three – but doesn’t it feel a bit… ick to embrace it as Entertainment™?
Haus is going through difficult times: Haus, a company that ships specialty low-alcohol beverages directly to consumers, is looking for a buyer after a major investor pulled out of its Series A. The challenge? Investor research for an alcohol company can take months, and Haus simply doesn’t have the money at this point to support the continuation of the business.
How clean is the air you breathe every day? Aclima co-founder Davida Herzl wants everyone to be able to answer that question, and this week sat down with Jordan and Darrell. Found podcast to explain its mission. Meanwhile on chain reactionJacquelyn and Anita explain the US government crackdown on cryptocurrency mixer Tornado Cash, and the Equity crew spent Wednesday’s show discussing whether the turbulent market conditions of recent times will mean we’ll see fewer early efforts in the coming months.
What’s behind the paywall? Lots of really good stuff! Here’s what todaybusinessupdates.com+ subscribers read the most this week…
Building an MVP when you can’t code: Have a great idea but can’t code? You can still get the ball rolling. Magnus Grimeland, founder of the startup VC firm Antler, explains some of the key principles to keep in mind.
Are the SaaS valuations for a recovery?“…the good news for software startup founders,” Alex writes, “is that the era of the card game increasingly stacked against them is now behind us.”
VCs and AI-powered investment tools: Do VCs want AI-powered tools to help them figure out where to put their money? Kyle Wiggers takes a look at the concept and why not all VCs agree.