Meta Freezes 🥶 Hiring Across Several Verticals
Scott D. Clary | Daily Business, Tech & Finance Newsletter
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Meta Freezes 🥶 Hiring Across Several Verticals
Meta is slowing the growth of its workforce to rein in costs. The company has reportedly paused hiring for several verticals, like shopping, and Messenger Kids, among other products.
In addition to a hiring freeze for certain engineering roles, Meta also recently paused hiring recruiters and low-level data scientists, triggering fear of layoffs among the employees.
“I can’t sit here and make a permanent ongoing promise that as things shift that we won’t have to reconsider that,” Zuckerberg told the staff during an internal all-hands meeting.
“But what I can tell you is that as of where we sit today, our expectation is not that we’re going to have to do that. And instead, basically what we’re doing is we’re dialing growth to the levels that we think are going to be manageable over time,” he added.
Freezing hiring by Meta across some verticals indicates that these products are not profitable; as such, the company is banking upon its big-time foray into Metaverse, with plans to invest billions of dollars in coming years.
Tesla Opens Superchargers 🔋 to Non-Tesla EVs in Some European 🇪🇺 Countries
Electric vehicle maker Tesla is expanding its open Supercharger pilot program in more European countries, letting owners of non-Tesla EVs take advantage of the company’s extensive charging network.
The pilot program, which was earlier available at select stations in the Netherlands, Norway, and France, is now also available in the UK, Spain, Sweden, Belgium, and Austria, bringing the total number of countries to 8.
“We’re starting with a select number of sites so that we can review the experience, monitor congestion, and assess feedback before expanding. Future sites will only be opened to Non-Tesla vehicles if there is available capacity,” said Tesla in a post.
If you’re living in one of the pilot countries, you can take advantage of the Tesla charging network and check participating stations by using the Tesla app.
If you are an owner of both Tesla and another EV, you can monitor Supercharging for both vehicles in the app; however, non-Tesla vehicles might incur additional fees on top of the electricity rates that are shared in the app.
Trade Minister Says Russia 🇷🇺 Will Legalize Crypto Payments Soon
Russia will legalize crypto payments inevitably, according to the Russian trade minister Denis Manturov.
At an educational event called New Horizon, when asked whether Russia would be legalizing bitcoin or any other cryptocurrency, the Minister of Industry and Trade of the Russian Federation, Denis Manturov, said, “I think so. The question is when this will happen, how it will happen, and how it will be regulated. Now both the Central Bank and the government are actively engaged in this. But everyone is inclined to understand that this is a trend of the time, and sooner or later in one format or another, it will be carried out.”
“But, once again, it must be legal, correct, in accordance with the rules that will be formulated,” Manturov added.
Russian authorities are also currently discussing the future of cryptocurrencies and mining.
In February, the Russian government approved the concept of regulating cryptocurrencies based on a proposal drafted by the Ministry of Finance, taking steps towards the legalization of crypto payments in the country.
Payments And Software Startup SpotOn Nabs $300 Million in Series F Funding 💰
SpotOn, a software and payment company with comprehensive solutions for restaurants, retail businesses, and enterprise venues, has raised $300 million in its Series F funding round.
The funding was led by Dragoneer Investment Group along with participation from new investor G Squared. Existing investors Andreessen Horowitz (a16z), DST Global, Franklin Templeton, and Mubadala Investment Company also participated in the round.
Founded in 2017 by Doron Friedman, Matt Hyman, and Zach Hyman, SpotOn provides mobile payment technology and management system for restaurants and small businesses.
The company’s mission is to give small and midsize businesses a fighting chance, providing innovative software and payment solutions supported by local and personal services and delivered at a fair price.
Since its inception, the startup has been focused on providing software and payments technology to SMBs with an emphasis on restaurants and retail businesses.
SpotOn plans to use the fresh proceeds to further develop technology products that enable businesses to meet the evolving needs of consumers.
Around the Web 🌐
Aave Rolls Out Open-Source Social Networking For DApps on Polygon: Open source liquidity protocol Aave has announced the launch of a new project called the Lens Protocol, focusing on helping developers build social networking decentralized applications (DApps) on the Polygon (MATIC) blockchain. The Lens Protocol will enable users to have a single Lens profile that numerous Lens Dapps may utilize.
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