🛍 How Wish Built (and Fumbled) a Dollar Store for the Internet

Plus: Twitter Lays Off Third of Talent Team, Reddit is launching a new NFT avatar marketplace, and more…

Today’s pick

How Wish Built (and Fumbled) a Dollar Store for the Internet. There were unbelievable bargains on “bestdeeal9,” a store hosted on the e-commerce platform Wish, including a $2,700 smart TV being sold for $1 and a gaming computer advertised for $1.30. But none of the offers were real, and Wish… (Tiffany Hsu & Sapna Maheshwari / The New York Times)

Sapna Maheshwari @sapna

after years of being fascinated by Wish dot com and its high valuation, prolific ads and LA Lakers deal, glad to finally report on its inner workings - including allegations of unethical behavior - with the excellent @tiffkhsu

nytimes.comHow Wish Built (and Fumbled) a Dollar Store for the InternetThe number of users has plummeted, and its stock price has dropped. Former employees point to an emphasis on short-term growth over customer service.

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Twitter Lays Off Third of Talent Team. Twitter Inc. on Thursday said it laid off 30% of its talent acquisition team, as the company deals with increasing business pressures and a potential takeover from Elon Musk. The layoffs come after the company in May announced that it would be… (Salvador Rodriguez / Wall Street Journal)

Sal Rodriguez 🕷 @sal19

Twitter today laid off nearly a third of its talent acquisition team after the company in May announced that it would pause hiring. The layoffs are expected to impact less than 100 people wsj.com/articles/twitt… tip @Techmeme

wsj.comWSJ News Exclusive | Twitter Lays Off Third of Recruiting TeamTwitter said it laid off 30% of its talent acquisition team, as the company deals with increasing business pressures and a potential takeover from Elon Musk.

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Reddit is launching a new NFT avatar marketplace. Reddit is launching a new NFT-based avatar marketplace today that allows you to purchase blockchain-based profile pictures for a fixed rate. The company said that you need not have a crypto wallet to buy them, so your credit or debit card should be… (Ivan Mehta / TechCrunch)

TechCrunch @TechCrunch

Reddit is launching a new NFT avatar marketplace tcrn.ch/3uvCMqw by @IndianIdle

tcrn.chReddit launches new NFT avatar marketplace – TechCrunchReddit has joined a long list of companies that are experimenting with NFTs.

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Theranos ex-COO Sunny Balwani found guilty in all 12 fraud charges 6 months after founder Holmes' conviction. The jurors in Ramesh 'Sunny' Balwani's criminal fraud trial reached a verdict after 5 days of deliberating. Balwani was found guilty of all 12 charges. Balwani and Theranos CEO Elizabeth Holmes will be sentenced at a later date. SAN JOSE, Calif. (Yasmin Khorram / CNBC)

Yasmin Khorram @YasminKhorram

Judge sets Nov. 15 for Sunny Balwani’s sentencing. The big difference in his verdict vs Holmes is that Balwani was found guilty of defrauding patients. Some former Theranos employees tell me this is “poetic justice.” Our story:

cnbc.comTheranos ex-COO Sunny Balwani found guilty on all 12 fraud charges 6 months after founder Holmes’ convictionThe jury in the fraud trial of former Theranos executive Ramesh “Sunny” Balwani reached a verdict on Thursday.

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It's looking more like Elon Musk could bail on buying Twitter. The Washington Post reports that Elon Musk's $44 billion deal to buy Twitter is “in peril,” based on three anonymous sources who told the paper that the billionaire's camp has “stopped engaging in certain discussions around… (Richard Lawler / The Verge)

Richard Lawler @rjcc

Gotta hear both sides theverge.com/2022/7/7/23199…

koush @koush

I don’t want him to buy twitter, but the funniest outcome would be if he was forced to buy twitter, so I’m really conflicted right now.

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