A Facebook contractor took us inside the "messy" termination of their job, and DTC darling Warby Parker just cut dozens of corporate roles.
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1. Inside the "messy" end of a Facebook contractor's job. Many contractors in Austin, Texas recently lost their jobs after seeing perks evaporate, their work habits monitored intensely, and being put on more performance-improvement plans, Insider has learned.
- Facebook has a $500 million a year deal with Accenture to provide hourly content moderation and business-integrity services. People contracted through Accenture began being laid off late last month, according to a former worker whose role was eliminated.
- Before the layoffs, Accenture workers had access to perks like breakfast, gas reimbursement, and a food stipend for weekend work. But by late April and early May, contractors started seeing Facebook roll back some of these perks.
- Productivity trackers used to oversee and log contractors' work became more "intense," one worker told Insider, adding "I really wasn't expecting it all."
Everything else the contract worker told us.
2. These tech skills can get you paid more. New data shows that jobs requiring certain skills have seen pay increases this year, while others requiring common skill sets have seen pay drops — sometimes significantly. View the full chart here.
3. Tom Brady has lost thousands of dollars on a Bored Ape NFT he bought in April. Since buying it for 133 ether, or $430,000, his NFT's worth has dropped by 68%. Here's how much Brady's lost on the NFT.
4. Y Combinator's head of admissions shared what she's looking for. Even in the middle of the downturn, Stephanie Simon is reviewing over 10,000 startups for the exclusive accelerator's next cohort. Here's her advice for founders who want to be in the 2% of accepted applicants.
5. DTC pioneer Warby Parker cut 63 corporate jobs. An internal email viewed by Insider showed the eyewear brand eliminated dozens of roles from several teams across its corporate headquarters. What we know about the layoffs.
6. Tornado's crypto token fell 24% after the US Treasury Department imposed sanctions on the cryptocurrency mixer. As per Bloomberg, North Korea's Lazarus Group used Tornado to launder money stolen in large crypto hacks, according to US authorities.
7. VCs said these are the rising-star consumer companies to watch. We rounded up a list of 10 companies — ranging from DTC brands to meal-delivery services — that VCs believe are paving the way for the next generation of consumer brands. See the top 10 picks here.
8. One of the biggest textbook publishers is mulling a move to the blockchain. Pearson is looking for a way to earn a cut on resold textbooks — and its CEO said moving to the blockchain and NFTs could give the company some sales from resold books. More on the future of textbooks.
Odds and ends:
9. Elon Musk revealed more details about his "very small" $45,000 property. During a podcast interview, Musk said that while he doesn't have a "main residence," he stays in a three-bedroom apartment half a mile away from SpaceX's South Texas rocket factory. What we learned about Musk's small home.
10. Yes, BeReal notifies users about screenshots. The buzzy social-media app will warn you if someone screenshots your photo. Here's how it works and how to see who's screenshotted your photos.
What we're watching today:
- Blockchain Futurist, Canada's largest blockchain and crypto conference, kicks off today.
- Coinbase, Roblox, and others are reporting earnings. Keep up with earnings here.
- President Joe Biden is set to sign the CHIPS and Science Act into law.
- Digital Summit New York starts today.
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 Hallam Bullock (tweet @hallam_bullock) in London.