One more day until the weekend, buds. I'm Diamond Naga Siu, and I missed my chance to move to Portugal.
In recent years, many Americans flocked there for a lower cost of living and laid back lifestyle. But my colleague Jordan Pandy found that the influx of people from the US has driven up housing costs and is pushing people out.
Before I let go of my Portuguese dreams, let's dive into today's tech.
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1. First, companies took away lunch. Healthcare and 401(k) matching could be next. Onsite dry cleaning. Snack bars. Massages. Revoking these tech company perks was annoying — but probably not deal breakers — for most employees. But financial incentives are the logical next cut. And that could drive them away.
- The most impactful benefits are essentially invisible wages, one expert told Insider. Although they don't appear in salaries, the perks help lower the cost of living and make life easier.
- These types of benefits, however, appear next in line on the chopping board. And if they go, employees might have to start asking themselves some hard questions.
- My colleague Emilia David examined the steady stripping of tech benefits, and she breaks down what this means for employees going forward.
Take a look at the less perky future here.
In other news:
2. Interactive org chart: Google Cloud. CEO Thomas Kurian employs a legion of 109 top vice presidents and lieutenants to lead the software empire. Insider obtained internal Google data to map out who guides the division's 50,000+ employees. Check it out here.
3. Goodbye (and good riddance) to QR code menus. They kill the mood. Not everyone is tech-savvy. And using your phone during a meal is often perceived as rude. So many restaurants are reportedly switching back to physical menus. More on the fading trend here.
4. Leaked memo: Microsoft cut pay and bonuses "to invest in the AI wave." Chief marketing officer Chris Capossela detailed this tradeoff in an internal message shown to Insider. Read his full comments here.
5. The tech-executive-to-investor pipeline. Right now is one of the best times to poach high-ranking talent. Executives are looking for greater stability amid the shaky tech environment. And startup investing seems to be their answer. More on the career switch here.
6. Leaked email: Lead in Snap HQ's water. Employees are internally discussing the possible health effects from drinking the contaminated water daily. They're required to work in-person four days per week. Read the memo announcing the toxic work environment here.
7. Brain implant helps paralyzed man walk. A new spinal cord stimulation technique has helped Gert-Jan Oksam walk on his own again. It still isn't easy, but he can stand up to paint and climb stairs. More on the life changing technology here.
8. Welcome to Amazon's HQ2. The second headquarters — dubbed Metropolitan Park — just opened Monday. The Virginia command post has quick-service food stalls, rooftop gardens, a children's playground, and other swanky features. Get the full tour here.
Odds and ends:
9. The housing market Ice Age. If you don't already own a home, you'll be screwed for years to come. The number of available homes is shockingly low. Borrowing rates remain pretty high. Plus, homeowners aren't keen to sell right now. Dive into the lopsided market here.
10. Russia's biggest warships are struggling. Its navy has had limited involvement in invading Ukraine. But the ongoing war has stunted plans to modernize and upgrade the aging fleet. All aboard for the floating headache here.
What we're watching today:
- The Mobile Ecosystem Forum is hosting a one-day event in London. It's focused on "the dawn of personal and organizational identity."
- The French Open draw ceremony is today.
- Quarterly earnings for Best Buy, Workday, and other companies. Keep up with earnings here.
Curated by Diamond Naga Siu in San Diego. (Feedback or tips? Email [email protected] or tweet @diamondnagasiu) Edited by Alistair Barr (tweet @alistairmbarr) in San Francisco and Hallam Bullock (tweet @hallam_bullock) in London.