Elon Musk suffers the biggest loss; Twitter CEO’s net worth has fallen! Read more tech news
Good morning tech fam, here are some quick tech updates for you to catch on to!
What’s New Today: Amazon now uses drones for deliveries in US; it has begun using drones to deliver packages in the US in the states of Texas and California.
Fast-Track Insights: Investors have accused cryptocurrency billionaires Winklevoss Twins of fraud and breaking securities laws.
Elon Musk’s net worth has decreased by more than $200 billion (£166 billion), the worst loss of wealth in contemporary history. Over the past 13 months, the billionaire who recently seized control of the social media network Twitter lost more than half of his wealth. Musk’s net worth decreased by $208 billion (£172 billion), or about the same amount as Greece’s yearly GDP, according to the Bloomberg Billionaires Index. After dominating the rich list for the majority of the year, Mr. Musk lost the top spot to the French business tycoon earlier this month, but he is still in front of other US tech billionaires who have recently dominated the list.
Amazon has begun using drones to deliver orders in the US states of Texas and California with the goal of getting products to consumers’ homes in under an hour. According to The Verge, Amazon recently used their “Amazon Prime Air” drone service to deliver a small number of packages to customers in Lockeford, California and College Station, Texas. “We want to safely take our drones up into the air. According to Natalie Banke, a spokesman for Amazon Air, “We are starting in these communities and will gradually increase deliveries to more customers over time.
Google Reviews and Development (GRAD), a performance management tool created by the tech giant, will assist managers in locating their lowest performers. The vice president of human resources at Google received a letter from employees in Switzerland outlining their worries, according to a recent article by The New York Times (NYT). Employees at Google said in the letter that “at least some supervisors have been forcefully pressured to implement a quota” during the employee appraisal procedure. Employees at Google said in the letter that the quota allocation would result in poor reviews and, as a result, future job cutbacks.
FTX assets are being held by a Bahamas regulator until they are delivered to customers. On Thursday, the regulator stated that it is temporarily holding the company’s assets, which are worth $3.5 billion. The pricing is specifically dependent on the going rate at the time of transfer. The commission plans to deliver them to the people who genuinely own them—customers and creditors. Additionally, Sam Bankman-Fried and Gary Wang, the two founders of FTX, lost access to the assets when the transfer was finished in November. In an affidavit submitted to the Bahamas Supreme Court, Christina Rolle, the commission’s executive director, specifically stated that this was the case.
In a recently filed class action complaint that links the Winklevoss twins and their company Gemini to the demise of FTX, cryptocurrency investors who invested with the couple and their platform Gemini are being asked to sue the brothers. Max J. Hastings and Brendan Picha, two investors, have brought a class action lawsuit in New York City, alleging that they were cheated out of their investment earlier this year. The lawsuit details how the two, along with others, bought Gemini Interest Accounts, or “GIAs,” which they believed to be secure parking spaces for their cryptocurrency assets.