Happy almost-weekend, readers. Today we're covering Peloton founder John Foley's upcoming challenges, and why it might cost you more to see "The Batman" this weekend.
Let's dive in.
Subscribe to Insider for access to all our investigations and features. New to the newsletter? Sign up here. Download our app for news on the go – click here for iOS and here for Android.
1. Peloton's founder resigned as CEO. Now comes the hard part. Despite his departure, Peloton founder John Foley is still the most important person at the connected-fitness company — and it's unclear how much control he'll be willing to cede to new CEO Barry McCarthy.
- Foley stepped back from his role as CEO in February after a rocky period for the company. One-third of its staff had been laid off, and plans for new factories had been scrapped. Rumors of an acquisition abound.
- But despite taking a back seat, Foley still wields a lot of influence. With 40% of Peloton's voting shares and a new role as executive chairman, the 51-year-old Florida native will stick around as the company's main visionary.
- Insiders called Foley energetic and passionate about the brand, with a proclivity for micromanaging certain aspects of the business. And with a combative activist investor seeking to oust him entirely, Foley's next moves will determine the future of Peloton.
See what's next for Foley — and Peloton.
In other news:
2. Here's what's going on with tech in Ukraine. Spotify has closed its offices in Russia and removed content from state-backed outlets, Variety reported. Uber is offering free rides for refugees fleeing Ukraine to Poland, and Google and TripAdvisor disabled reviews of Russian businesses. Here's a running list of major companies that have pulled out of Russia.
3. Gopuff just slashed minimum-pay guarantees for drivers in California. While drivers previously made as much as $22 an hour as part of that guarantee, the company's new policy cuts that to about $15, according to internal emails. More on Gopuff's cost-cutting efforts.
4. Elon Musk faces a trial over the roughly $2.5 billion pay package he got in 2018. The Tesla CEO must go to trial after a shareholder filed a lawsuit over the tech billionaire's reported 10-figure compensation package. Get the full rundown here.
5. A popular Facebook meme page is suspected of being a data-mining operation. Facebook took down the scammy meme page — but not before it became the most-viewed page with 122 million views. What we know about the sketchy (but super popular) Facebook page.
6. Twitter is reopening its offices on March 15. CEO Parag Agrawal told staff they would still be allowed to work remotely, but warned of challenges, saying "distributed working will be much, much harder." Here's the latest on Twitter's return to the office.
7. Salesforce's global head of recruiting shares tips for landing a job. You don't need to come from a major tech company to score a job at Salesforce, Nathalie Scardino said, but you should try to connect with current employees and emphasize transferable skills. Read her advice here.
8. Google Cloud is terminating and outsourcing dozens of support roles. In the cloud division's latest move to cut costs, the tech company told relevant employees they had 60 days to find a new role within the company. Here's more on the reshuffle at Google Cloud.
Odds and ends:
9. Pete Davidson is reportedly going to space with Jeff Bezos. The "SNL" comedian (and Kim Kardashian's new boo) could be joining Bezos on a Blue Origin space flight later this year, The New York Post reported. More on Davidson's potential space travels.
10. Going to see "The Batman" this weekend? It might cost you more than other movies. Movie-theater chain AMC is testing out variable pricing, meaning new films could cost more than older films playing at the same time. Here's what to know before you head to the theater.
The latest people moves in tech:
- The CEO of the world's biggest PR software company has left after only 18 months.
- Marian Lee is replacing Bozoma Saint John as Netflix's Chief Marketing Officer, Variety reports.
- Facebook's outgoing CTO is giving up almost $50 million as he moves to a new role.
- Splunk has hired Gary Steele as its new CEO.
- After six years, Xamarin co-founder Miguel de Icaza is leaving Microsoft.
- Per WSJ, the exec tasked with rehabbing Wells Fargo's image is leaving in May.
You're invited: If you're an Insider subscriber, join us on Thursday, March 10, at 1 p.m. ET for a live discussion on how ghost kitchens are transforming the way restaurants do business. Sign up here.
Keep updated with the latest tech news throughout your day by checking out The Refresh from Insider, a dynamic audio news brief from the Insider newsroom. Listen here.
Curated by Jordan Parker Erb in New York. (Feedback or tips? Email [email protected] or tweet @jordanparkererb.) Edited by Michael Cogley in London.