A Verified Mess: Turmoil from Twitter to FTX

This week, we go inside Elon Musk’s “dire” warnings, FTX’s spectacular collapse and Meta’s big layoffs. Has the tech industry lost its mind?

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Elon Musk told Twitter employees the company faced a bleak financial picture in a meeting with staff on Thursday and in his first companywide emails.The world’s largest crypto exchange, Binance, said it had reached a deal to buy its competitor FTX, which was on the verge of collapse. The news about FTX had left crypto investors scrambling.Is the collapse of FTX crypto’s Lehman Brothers moment?Meta announced layoffs of 11,000 employees, accounting for about 13 percent of its work force.

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