Hello everyone! Welcome back to Week in Review, the newsletter where we round up some of the top stories from the last 7 days at TechCrunch. If you want it in your inbox every Saturday, sign up here.
That mostly read This week’s story was about: a DeLorean. Like in the back-to-the-future car. Yes. The short version: the recently revived images released by the brand of the Alpha 5, an electric vehicle built as a homage to the DeLorean of yesteryear, complete with those signature gullwing doors. Details like price/availability are still under wraps, but for the curious, the company says it goes from zero to 60 in 2.99 seconds — and, perhaps more importantly, from zero to 88 in 4.35 seconds.
What else happened this week? Here are some of the things people have been reading about the most:
WWDC rumbles: Apple’s annual Worldwide Developer Conference begins Monday, June 6, and rumors of what might be announced are already spreading fast. Brian Heater has a recap of what he expects to see at the event, and Sarah Perez has delved deeply into the likely changes coming to iOS.
Sheryl Sandberg is stepping down from Meta: After 14 years in this role, Sheryl Sandberg will no longer be COO of the company formerly known as Facebook. Javier Olivan, Meta’s Chief Growth Officer, will transition to the role of COO; Sandberg remains on the Meta board.
Amazon kills the Cloud Cam: Back in 2017, Amazon released a small smart home camera called Cloud Cam. Then, pretty much immediately, it bought two smart camera makers — Blink and Ring. Half a decade later, Amazon is leaving Cloud Cam in favor of the latter two. Cloud Cams will stop working by the end of this year; Existing Cloud Cam users get a free replacement Blink Mini camera and a free year of the Blink Plus plan. If you’re using a cloud cam, make sure to back up your saved videos before they disappear in December.
Amazon is experimenting with “invitation-based” orders to fight scalpers: If you’re a regular person just trying to buy something like a PlayStation 5 or Xbox Series X from Amazon, you’ve probably felt the disappointment of being beaten by a billion bots. Amazon announced this week that it will introduce “invitation-based” orders for select high-demand items; They “request an invite” and then Amazon looks at things like purchase history/account creation date to determine who gets the first dibs.
More layoffs: It was still Another brutal week of layoffs in tech – 8% from Carbon Health; 14% of loom; 10% of the Winklevoss twins’ Gemini crypto platform; 25% of the social app IRL; 10% from TomTom and more.
And Tesla too: First came the news that Elon Musk will require “everyone at Tesla” to be in the office (and not remote) “at least 40 hours” a week. Then came news of a company-wide hiring freeze and plans to shed up to 10% of Tesla’s salaried workforce.
You love TechCrunch for your eyes – how about TechCrunch for your ears? We have a bunch of great podcasts, the latest of which Matt Burns has rounded up here.
Example A: the TechCrunch Live podcast in which Burnsy spoke this week with the CEO and lead investor of Olive — a Columbus, Ohio company that’s turned 27 times and is now worth billions.
We have a paywall section of our website called TechCrunch+. It only costs a few dollars a month and is packed with very good stuff! For example, starting this week:
VCs on the state of crypto: Pretty much all major cryptocurrencies have spent the last 6 months in a downward spiral. How do investors rate the space overall? Jacquelyn Melinek reached out to a handful of VCs.
How the Biden admin could power solar/wind projects: “There is an idea floating in the airwaves (or at least in my airwaves) that there is enough sunny state in Nevada to solar power the entire United States,” writes Tim De Chant. “So why don’t we have more sun and wind on public land?”
Even Stripe isn’t immune to a changing market: Fintech companies hit hard by downturn; Alex Wilhelm takes a look at how/why “even the largest and most well-known private fintech companies suffer from embarrassing re-ratings”.