Hey everyone. Jordan Parker Erb is taking a break from Choco Taco grief to share some tech news with you.
All eyes are on Meta today as we enter the meat of tech’s revenue season, and Instagram is anticipating changes that have sparked widespread reaction across the platform.
ready? Let’s dive in.
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1. It’s a big day for tech earnings. Meta, Spotify, Shopify and other major tech companies are set to report earnings today — and everyone has their eyes on Meta. Here’s what to expect this afternoon:
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Last week, Snap’s disappointing earnings set the tone for what’s to come: As TikTok continues to grab market share, it’s wreaking havoc on its more established social media rivals — meta included.
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As the company steels itself against competition from TikTok, a slowdown in advertising and layoffs, Wall Street analysts are bracing for disappointment.
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Meanwhile, Shopify’s earnings fell 14 percent on Tuesday after it announced it would lay off 10 percent of its workforce, or about 1,000 workers.
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On Tuesday, Microsoft and Google reported better-than-expected results. Both shrugged off the advertising slowdown, but their core businesses, Azure cloud and Google Search, performed well.
In other news:
2. Amazon is raising the price of Prime memberships in Europe. Months after raising prices for members in the US, Amazon is raising prices across Europe – up to 43 percent. Here’s how much Prime members can pay.
3. After 10 rejections, this 28-year-old with no tech background got into Google. Tennessee Watt, who lives in London at Google, told Insider that she honed her international resume to focus on transferable skills and honed her elevator pitch to showcase her work. Look at her transcript.
4. Leaked documents show that a second Amazon Prime Day is coming in October. The Prime Early Access sale is described as a “high-speed” sales event to honor the loyalty of Prime members; This allows you to get special offers without waiting in advance. Everything you need to know about the second major sales event of the year.
5. Amazon aggregator increased business they laid off 5% of their employees. Boosted has raised $380 million in external funding to date and is the latest fundraiser to lay off employees as volatility continues among the portfolio companies. What we know about deportation.
6. Twitter says hiring fell “significantly” in the second quarter. According to the filing with the SEC, the company has backed away from hiring to manage expenses as it prepares for a legal battle with Elon Musk. The record says otherwise.
7. Tech workers who choose to be paid in crypto are still doubling down on buying dips. Payroll providers say demand for crypto wages among workers remains stable even as crypto markets are booming. We understand why.
8. Instagram CEO Adam Mosseri responds to the answer. In the video, Mosseri expressed his frustration with the changes to the platform, saying the app still supports photos, saying that “over time, most of Instagram will become video.” Everything Moseri said.
Odds and Ends:
9. Alexis Ohanian wants to save Choco Taco. After 40 years, Klondike has confirmed that it will discontinue the famous chocolate taco. But Reddit founder Alexis Ohanian tweeted Offered to buy New treatment rights: “I can’t let this happen.”
10. Mark Zuckerberg sold his San Francisco home for $31 million. Off-market sales are the largest residential real estate deal in the city in 2022, according to The Real Deal. Find the full report here.
What we are looking at today:
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Spotify, Meta, Shopify and others are reporting revenue. Continue your earnings here.
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Touring Fest is taking place in Edinburgh today and tomorrow.
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Spirit Airlines shareholders are set to vote on a proposed merger with Frontier Airlines.
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Edited by Jordan Parker Erb in New York. (Feedback or tips? Email jeb@insider.com or tweet @jordanparkerrb.) Edited by Halam Bullock (Tweet.). @hallam_bullock) in London.
Read the original article on Business Insider
