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In this week’s special edition, I’m bringing you highlights from the inaugural Masters of Scale Summit in San Francisco attended by tech veterans and disrupters alike – from former Google CEO Eric Schmidt to Boom Supersonic co-founder and CEO Blake Scholl. We’ll get back to regularly scheduled programming next week.
- TikTok’s CEO
Shou Chew
made a rare public appearance at the summit, and acknowledged that the company has a trust problem.
- Airbnb’s Brian Chesky shared how he led the company through 2020 and managed to pull off a stunning recovery after it lost 80% of its business overnight due to the pandemic. TL;DR: “The hardest thing to manage in a crisis is your own psychology."
- Chesky also discussed the importance of designing products based on empathy, which product vet, LinkedIn alum and VC
Deep Nishar
said is something he’s also embodied throughout the course of his career.
- Clinical psychologist
Shefali Tsabary
shared how professionals can find a more sustainable sense of wellbeing, and avoid stress, anxiety and burnout.
- And one that I missed – but was a highlight nonetheless – was Prince Harry’s surprise appearance at the end of day one, where he discussed how therapy changed his life.
Here are other tech headlines you may have missed last week.
- Twitter is likely to shed a significant portion of its workforce as it plans to pare back its payroll by $800 million by the end of 2023, according to documents obtained by The Washington Post. While the cuts are likely whether Tesla CEO Elon Musk's takeover goes through or not, Musk told investors that he would get rid of 7,500 Twitter workers (around 75% of staff), leaving a skeleton team of 2,000 employees.
- Adobe is taking a page out of Figma’s design book, and plans to streamline Photoshop to enable more web-based capabilities – essentially mimicking aspects of the popular, cheaper design platform. According to Adobe's chief product officer, Scott Belsky, this embrace of online services will help the company attract new customers even as startups enter the design space.
- L.A. Clippers owner and former Microsoft CEO Steve Ballmer has announced a $400 million investment to help address the shortage of funding for Black-led startups. The investment — made with his wife, Connie — will go to Black fund managers in venture capital and growth equity, who will be required to invest at least 30% in Black entrepreneurs.
- Google is breaking Texas law by collecting users' biometric data without permission, Texas Attorney General Ken Paxton contends in a new lawsuit. Google faces penalties up to $25,000 per violation, and Paxton says millions of Texans are likely affected.
- Cybersecurity spending on pace to surpass $260B by 2026, according to Gartner. The spending is being driven by the three trends of remote work, the move to the cloud, and the rise of zero trust network access.?
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