Amid mass layoffs, Snap says Web3 is not a priority since it doesn’t directly contribute to the company’s AR efforts, in sharp contrast to moves by rival Meta (Emily Nicolle/Bloomberg)

TechCrunch:
A look at Snap’s decision to close Zenly, popular in Europe and Asia with a claimed ~35M MAUs earlier in 2022, to “focus on Snap Map”, which has 300M+ MAUs  —  Snapchat’s parent Snap became the latest tech company to announce a huge round of layoffs, confirming ongoing rumors yesterday …

Josh Eidelson / Bloomberg:
Twitter has been sued in San Francisco federal court for conducting mass layoffs without providing the required notice of at least 60 days under the WARN Act  —  Twitter Inc. was sued over Elon Musk’s plan to eliminate about 3,700 jobs at the social-media platform — half of its workforce …

Ashley Capoot / CNBC:
Jack Dorsey apologizes for growing Twitter “too quickly”, amid mass layoffs; Twitter’s headcount grew from ~2,000 to 7,500+ between June 2013 and December 2021  —  – Twitter co-founder Jack Dorsey apologized Saturday for growing the company “too quickly,” a day after hundreds …

Lachlan Markay / Axios:
Snap’s ad archive shows some Democratic and progressive orgs were able to target ads using the data of a GOP data broker; Snap blames an internal mistake  —  A slip-up by social media giant Snap allowed leading Democratic campaigns and party committees to unwittingly tap into a vast repository …

Bloomberg:
Mass tech layoffs leave hundreds of H-1B visa holders scrambling for new jobs to stay in the US; Amazon, Meta, and others sponsored 45K+ in the last three years  —  Mass tech layoffs have left hundreds of workers living in the US on temporary visas with little time to find another job, or they’ll have to leave the country.

Emily Nicolle / Bloomberg:
In a hearing with UK lawmakers, a Binance executive says the exchange will submit evidence on discussions about the FTX deal, selling the FTT token, and more  —  Binance said it will submit evidence to UK lawmakers regarding discussions held about FTX.com when the two were in deal talks …