Docs: if Elon Musk buys Twitter, he plans to cut nearly 75% of staff; otherwise, Twitter aims to cut payroll by ~$800M by the end of 2023, ousting ~25% of staff (Washington Post)

Financial Times:
Current and former Twitter staffers shed light on Musk’s “War Room”, which includes Jason Calacanis and David Sacks, tasked with transforming Twitter’s business  —  In first week as owner, the billionaire has axed management, begun mass job cuts and launched new products

David Rand / Financial Times:
Research: crowdsourced fact-checking can improve social media moderation by channeling partisan motivations to be productive if opposing sides police each other  —  Social media companies are exploring radical solutions to moderation, writes an academic researching the options

Natasha Lomas / TechCrunch:
Unsealed court docs in a privacy user profiling suit against Meta show that apps from Zynga, Yahoo, and others had extensive access to users’ friends’ data  —  It’s not the crime, it’s the cover up… The scandal-hit company formerly known as Facebook has fought for over four years to keep …

Aanu Adeoye / Financial Times:
Jumia undergoes major restructuring after ousting its co-CEOs, including closing its Prime subscription program and its Logistics service in seven countries  —  Acting chief hunts for profits after continent’s first ever tech unicorn plunges 70% in value since New York listing

Julia Love / Bloomberg:
Research: the US tech industry shed 9,587 jobs in October, the highest since November 2020; in 2022, 104K+ startup workers have lost jobs, up from 81K in 2020  —  Job cuts in the technology industry are accelerating, nearing levels seen in the early stages of the Covid-19 pandemic …

Natasha Mascarenhas / TechCrunch:
Sources: BloomTech, previously Lambda School, is cutting half of staff, or an estimated 88 employees, its third round of known layoffs since the pandemic began  —  A little over a year after buzzy coding bootcamp Lambda School rebranded as Bloom Institute of Technology …