Daily Crunch: Facebook embraces remote work
Facebook takes more steps to support and expand a remote workforce, IBM announces layoffs and TechCrunch's big annual conference is going virtual. (I know, I know - I have mixed feelings about it, too.)
Here's your Daily Crunch for May 22, 2020.
1. Facebook makes big remote work moves with plan for new hubs in Dallas, Denver and Atlanta
Facebook CEO Mark Zuckerberg estimated that over the course of the next decade, half of the company could be working fully remotely. As the next step toward that goal, Facebook will be setting up new company hubs in Denver, Dallas and Atlanta.
For Menlo Park employees looking for greener pastures, there's one sizable catch. Starting on January 1 of next year, the company will localize all salaries, which means scaling compensation to the local cost of living.
2. IBM confirms layoffs are happening, but won't provide details
IBM isn't sharing details, but analyst Patrick Moorhead said. I'm hearing it's a balancing act between business units. IBM is moving as many resources as it can to the cloud."
3. TechCrunch Disrupt 2020 is going virtual
As you can imagine, this is largely due to the impact that the coronavirus has had on the world. But it also gives us a chance to make our event even more accessible to more people than ever before, and Disrupt will now stretch over five days - September 14-18.
4. Netflix to start cancelling inactive customers' subscriptions
Netflix said it will ask customers who have not watched anything in a year or more if they want to maintain their subscription. If it doesn't hear back, it will cancel their membership.
5. API startups are so hot right now
Alex Wilhelm looks at FalconX, Treasury Prime, Spruce, Daily.co, Skyflow and Evervault - all API-focused startups that are experiencing some early success. (Extra Crunch membership required.)
6. Magic Leap has apparently raised another $350 million, in spite of itself
Magic Leap has reportedly received a $350 million lifeline, a month after slashing 1,000 jobs and dropping its consumer business. Noted by Business Insider and confirmed by The Information, CEO Rony Abovitz sent a note to staff announcing the funding, courtesy of unnamed current and new investors.
7. Cake brings a Swedish take on e-motorcycle design to the US
The Stockholm-based mobility startup's debut, the Kalk OR, is a 150-pound, battery-powered two-wheeler engineered for agile off-road riding and available in a street-legal version.
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