Bloomberg reports the Luxembourg office will fire 370 employees, around 8.5 percent of the 4,370 staff. Amazon announced 14,000 global layoffs in October.
The tiny European tax haven only has a population of 680,000, and these are its biggest layoffs in two decades — but still leave Amazon the fifth largest employer in the country.
CEO Prashanth Chandrasekar on how ChatGPT became an “existential moment” for Stack Overflow.
Netflix may be the frontrunner now, but the war for Warner Bros. could end in a number of different ways.
SpaceX is planning to go public at a valuation that would make it the biggest listing of all time, Bloomberg reports. “The Elon Musk-led company is targeting a valuation of about $1.5 trillion for the entire company” and while they’re saying they plan for next year, it’s a Musk company so you know what that means: “the timing could slip until 2027.” SpaceX expects $15 billion in 2025 revenue, and $22 billion to $24 billion in 2026, mostly due to Starlink.
As Ted Sarandos and David Ellison play out a public spat over whose turn it is to play with Warner Bros., while trying to impress Trump and the regulators along the way, just remember that the real winners at the end will be HBO Max subscribers.
sam flynn:
It’s really fun how we all get to sit around and watch these idiots toss gold bars back and forth across Trump’s desk while waiting to see if an HBO Max subscription will be $80 or $100 a month this time next year.
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Since Netflix announced that it was the frontrunner to buy Warner Bros., David Ellison’s Paramount Skydance has been getting more hostile in its bids to own the legacy studio. But Semafor reports that Paramount’s tactics have raised eyes in Washington, where some think Ellison is banking on favoritism from Trump’s Justice Department.
After a string of exec departures from Apple, Bloomberg’s Mark Gurman reported a few days ago that Srouji, who oversees the chips that have helped iPhones, Macs, and other devices lead their categories, had discussed leaving for another company.
Today, Gurman reports the exec sought to calm employees, sending a message to his division that said “I love my team, and I love my job at Apple, and I don’t plan on leaving anytime soon.”
In the story I wrote about CoreWeave, analyst Gil Luria told me the company has “to keep borrowing more and more because they spend more money than they can get, structurally. They have to continue to borrow to pay interest on the last loan.” Aren’t you glad Nvidia helped them go public?
After launching a hostile bid for the entertainment giant, Paramount’s Ellison told CNBC that Netflix’s deal to buy part of WBD would create a company with “unprecedented market power:”
When you combine the number one streamer with the number three streamer, that creates a company that has unprecedented market power, north of 400 million subscribers. The next largest competitor is Disney, with just under 200 million. That’s bad for Hollywood, that’s bad for the creative community, that’s bad for consumers.
Square’s Willem Avé on AI automation, investing in crypto, and what it’s like working for Jack Dorsey.
Warner Bros. has a long history of bad buyouts and mergers, but maybe Netflix co-CEO Ted Sarandos has been watching a little too much Arrested Development on his own platform.
Bebopper:
Arrested Development but it might work for us .gif
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