Happy Friday, friends. A new series on WeWork’s meteoric rise and fall starts
today, and we’re sharing how much Apple pays its employees.
Let’s dive in.
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1. A new series about WeWork premieres today. “WeCrashed,” which follows the rise and fall of the real-estate startup and its boisterous founder, begins streaming on Apple TV+.
- The series focuses on Adam Neumann, who landed billions of dollars in investments from firms like Goldman Sachs and SoftBank before the company published its troubled financials in a doomed 2019 attempt at an IPO.
- Neumann is a controversial figure in tech, famous for throwing alcohol-fueled company retreats, jetting around in private planes, and instituting a meat ban at WeWork’s corporate offices.
- Tech correspondent Ben Bergman watched a private screening of the new series at South by Southwest this week, and found it to be a colorful and comical portrayal of the flawed founder and the excesses of venture capital. Read his review here.
- Here’s how to watch the series, starring Jared Leto and Anne Hathaway. But before you decide to stream or skip, watch the trailer here.
In other news:
2. Amazon’s deal to buy MGM is officially closed. Amazon’s $8.5 billion deal to acquire the studio behind James Bond, Rocky, The Handmaid’s Tale, and other iconic shows and movies has been completed without a challenge from the FTC. Here’s what that means.
3. Web3 is a utopian scam. Considered the next evolution of the internet, Web3 has been heralded by crypto evangelists as a democratic paradise free of corporate control — but its reality appears poised to fall short of its big promises.
4. TikTok creators can now link shopping lists into their videos. Instacart announced that through a partnership with TikTok, it’s launching a “Shoppable Recipes” feature, which will let food creators link shopping lists into their videos. See how the feature will work.
5. “Move fast and break things” culture came to food delivery. It may be a recipe for disaster. Ghost kitchens are mimicking Silicon Valley’s favorite growth recipe: Add tech to a stodgy sector, expand quickly, ignore operational snafus — like raw chicken and fireball-emitting propane stoves — and skirt any local regulations that get in the way. What’s happening at kitchens with an Uber mentality.
6. Elon Musk thinks people will land on Mars in 2029. In years past, Musk has ventured 2024 and 2026 as years when SpaceX could send a crewed mission to Mars. But a recent tweet suggests his plans have been pushed back a few years.
7. How much is Apple paying its employees? Insider analyzed a year’s worth of Apple’s salary data, and found some employees can earn well over $200,000. From engineers to designers, here’s how much Apple employees make. Plus, take a look at our salary comparison database.
8. Tesla rival Lucid says it may need to raise prices on future EV models. The company’s CEO told Reuters there’s an “inevitability” that they’ll have to look at the price points of future models as inflation and supply chain issues continue. What you need to know.
Odds and ends:
9. Virtual reality could help ward off Alzheimer’s. Researchers at a South by Southwest panel suggested the tech could trigger old memories or help people recall a family member’s voice, and could reduce loneliness — a key risk factor for Alzheimer’s. Here’s how it could work.
10. Spotify may be looking to expand into NFTs. Job ads calling for Web3 expertise hint at the streaming giant’s NFT ambitions. See the job postings here.
The latest people moves in tech:
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Curated by Jordan Parker Erb in New York. (Feedback or tips? Email firstname.lastname@example.org or tweet @jordanparkererb.) Edited by Michael Cogley in London.