Amazon to cut 9K more jobs, FDIC splits SVB's assets, Netflix's ad tier hits 1M MAUs

Amazon will cut 9K employees in its AWS, advertising, Twitch, and HR segments; this follows the company letting go of 18K workers between November and January - Link

After failing to find a buyer, the FDIC will split up Silicon Valley Bank’s assets and hold two separate auctions for the bank’s traditional deposits and its private banking operation - Link

Bloomberg sources: Netflix’s ad-supported tier has hit 1M MAUs after launching in November while fulfilling its forecasted deliveries to advertisers - Link

Runway, a NY-based generative AI startup, launched its Gen 2 system, which generates 3-second clips via text prompts; users can sign up for the waitlist in Runway’s Discord - Link

Compliance and security shouldn’t be a deal-breaker for startups to win new business. Vanta makes it easy for companies to get a SOC 2 report fast. Go to vanta.com/twist for $1,000 off for a limited time only.

Rachel Reporting joins Jason for the news! First, they give an update on the banking crisis and how it’s impacting startups (1:34). Then, they cover Balaji’s huge Bitcoin bet and his predictions for the future (14:17) before breaking down OpenAI’s launch of GPT-4 (35:07). Finally, Jason wraps up with some Jay Trading updates (57:28)! - Link

TikTok confirmed that it now has 150M MAUs in the US, up from 100M in 2020; CEO Shou Zi Chew will testify in front of the House Energy and Congress Committee on Thursday - Link

CapCut, ByteDance’s video editing app, has more than 200M global MAUs since launching in 2020; the app grew 43% y/y in 2022, garnering more than 400M global downloads - Link

Microsoft is planning to launch its own mobile gaming app store for iOS and Android phones as soon as next year if its $75B Activision Blizzard acquisition is approved and the EU’s Digital Markets Act goes into effect - Link

Aembit, a Maryland-based cybersecurity startup, raised a $16.6M seed round from Ballistic Ventures and Ten Eleven Ventures; Aembit’s co-founders have worked together for 17 years and brought two prior startups to exits - Link

E1702: Balaji’s $1M Bitcoin bet, banking crisis update, OpenAI launches GPT-4, and Jay Trading!

E1701: ANGEL: Laurie Yoler on investing early in Tesla, strategic partnerships, and her VC career

E1700: Banking crisis impact, more Meta cuts, and GPT-4 with Sunny Madra and Vinny Lingham

E1699: Andy Rachleff on SVB, how to evaluate VCs, market pull indicators, Wealthfront, and more

E1698: How ocean farming can solve world hunger with Alora CEO Luke Young

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