In a Twitter Space, Elon Musk says he expects Twitter to “be okay” next year after cost cutting, claiming the company was on course to spend ~$5B in 2023 (Hannah Murphy/Financial Times)

Manish Singh / TechCrunch:
Indonesia’s GoTo Group cuts 1,300 jobs, or ~12% of its workforce, to trim costs and improve finances  —  GoTo Group is cutting 1,300 jobs, or 12% of its workforce, it informed staff early Friday, as Indonesia’s largest internet company attempts to trim costs and improve finances.

The Guardian:
Court filing: Elon Musk’s deposition by Twitter’s lawyers has been rescheduled to October 6 and 7  —  Musk to be questioned under oath by Twitter lawyers on 6 and 7 October in preparation for trial over abandoned $44bn takeover  —  Elon Musk is scheduled to be questioned under oath …

New York Times:
Since Elon Musk’s takeover, sources say Twitter has in some cases chosen not to pay vendors, as it reviews and renegotiates deals to cut expenses  —  Mr. Musk and his advisers are examining all types of expenses at Twitter.  Some of the social media company’s vendors have gotten stiffed.

Deepsekhar Choudhury / Moneycontrol:
Source: Indian B2B marketplace Udaan plans to lay off 325 to 350 employees, or about 10% of its workforce, a week after raising $120M in convertible debt  —  Up to 350 on-payroll employees to get impacted, apart from a number of contractual workers  —  A week after securing $120 million …

Hannah Murphy / Financial Times:
Experts say Peiter Zatko’s Senate testimony on Twitter is unlikely to have a big impact on Elon Musk’s legal battle to terminate his $44B takeover deal  —  Testimony from Twitter’s former security chief to US senators on Tuesday was undoubtedly bruising for the social media company.

Financial Times:
Experts paint a dire picture for China’s semiconductor industry and AI development after the US announced new export controls on chips and chipmaking tech  —  Experts predict ‘tsunami of change’ for semiconductor industry as Washington wields tools tested on Huawei