Keep going everyone, it's almost the weekend. Analysts and experts outlined the losers in Elon Musk's court battle with Twitter. The short answer? Nearly everyone.
I'm Jordan Parker Erb. Come, take my hand. I'll help you navigate this morning's biggest tech news.
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1. Analysts predict the biggest losers in Elon Musk's legal showdown with Twitter. Except for the lawyers, there are lots of losers and no real winners, analysts say. They explain who could get hurt in the battle for Twitter's future — and who stands to benefit:
- Musk may be the richest person in the world, but attempting to back out of a deal isn't a good look. "I think he's underestimating the reputational risk that could be incurred from this," one analyst told Insider.
- It's not going to be great for Twitter, either. While the company may have a strong legal argument, a protracted battle isn't in its best interest, and experts say the company will face more lawsuits from shareholders in the coming months.
- Lawyers, on the other hand… "The big, big winners in this one are gonna be the law firms," another expert said. "These guys are gonna make a fortune."
Why nearly every party is a loser in this fight.
In other news:
2. Nearly half of Gen Z is using TikTok and Instagram for search instead of Google. Google's own data shows that 40% of Gen Z prefer the platforms over Google Search and Maps — and now Google is trying to attract a younger audience. How Google is trying to keep up.
3. Speaking of Gen Z... They actually aren't loving WFH. As many companies embrace flexible "work from anywhere" policies, some young workers are taking an unexpected approach: quitting to find in-office jobs. Why Gen Z wants to get back to office life.
4. Celsius Network has announced it has filed for Chapter 11 bankruptcy. As per CNBC, the troubled crypto lender said it would look to stabilize its business by restructuring in a way that "maximizes value for all stakeholders."
5. Amazon Web Services is hiring up to 32,000-employees this year. Amazon's cloud unit is hiring significantly more developers, salespeople, and marketing pros than in January — here's what it's looking for and how much it pays.
6. Netflix will partner with Microsoft for its ad-supported subscription. Netflix first floated the idea of having a cheaper, ad-supported tier this spring. Now, it will be working with Microsoft to make that happen. Here's the latest.
7. A laid-off Tesla employee shares the red flags they wish they'd noticed the day it happened. After seeing people crying in the lobby and watching security walk employees out, this former Tesla worker was let go — and wishes they noticed the signs earlier. Here's what they told us.
8. Bill Gates could soon be knocked off the list of the world's richest people. The billionaire said he plans to give away "virtually" all of his wealth to his charity foundation — a move that would erase him from the list of the world's wealthiest people. Here's how else Gates has historically spent his $114 billion fortune.
Odds and ends:
9. Get ready: New emojis are coming. The 31 new emojis — including a shaking head, a donkey, and a long-awaited pink heart — will be considered in September, and will likely be approved. Sneak a peek at every new emoji.
10. Amazon Prime Day may be over, but you can still score great deals elsewhere. Competitors like Walmart, Target, and Best Buy still have tons of products on sale. Here are the best deals happening now.
What we're watching today:
- Startupfest is happening in Montréal, Canada.
- JPMorgan Chase, Morgan Stanley, and others are reporting earnings. Keep up with earnings here.
- SpaceX is set to launch its 25th commercial resupply mission to the ISS.
- Axios is hosting a discussion on the implications of SCOTUS abortion ruling at 12:30 pm ET.
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.