??? Tech’s layoff tsunami: over 130,000 jobs gone

As we wrap up another eventful year in the startup world, we want to take a moment to?wish you all a joyful and peaceful holiday season????

In 2024, the wave of tech?layoffs shows no signs of slowing down, with over?130,000 job?cuts across 457 companies ?? Meanwhile, rumors swirl that OpenAI “considered” diving into?the world of humanoid robots???

On another note,?the Clop ransomware gang has taken responsibility?for breaching a staggering 66 companies, exploiting a bug in Cleo Software's file transfer tools ?? ??

Don't miss our?video?breaking down the juicy?drama surrounding OpenAI?this year! ?? ??

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Six bullets of updates

1. ???Clop ransomware gang?claims responsibility for breaching 66 companies through a bug in Cleo Software's file transfer tools.
2. ???Google?uses Anthropic's Claude to evaluate Gemini AI, raising concerns about compliance with Anthropic’s TOS.
3. ???MENA-based startup CredibleX?raises $55M in a seed round to boost revenue-based financing for SMEs, issuing $27M to date.
4. ???Generative AI?is transforming business success by balancing cost, time, and quality, empowering even small firms.
5. ???Colombian fintech Bold?acquires Tuily to enhance SME financial tools; Tuily serves over 250 clients.
6. ???Lilium?receives a lifeline from investors after its bankruptcy, planning to rehire some of the 1,000 laid-off staff.

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Layoff Chronicles: the hits keep coming for tech workers

The wave of tech layoffs continues unabated in 2024,?with over 130,000 job cuts across 457 companies, according to?Layoffs.fyi. Major players like Tesla, Amazon, Google, and Microsoft have downsized significantly, while smaller startups have also been hit hard, with some shutting down entirely. The layoffs highlight shifting priorities in the tech industry, including an increased focus on AI and automation, reshaping roles once considered stable. These cuts, while indicative of evolving innovation strategies, also underscore the profound human and economic impacts of workforce reductions.

A closer look at recent layoffs reveals widespread effects across sectors. Companies like Boston Dynamics, Bluevine, and Calendly have trimmed their workforces, while others like EasyKnock and Mixtroz have ceased operations entirely. Some layoffs, such as Yahoo’s reduction of its cybersecurity team and Booking Holdings' focus shift to AI, reflect strategic pivots. Meanwhile, companies like CredibleX, thriving in niche markets, illustrate how adaptability and innovation can counter industry-wide challenges. These ongoing workforce changes reveal the complex interplay between economic pressures and technological advancement.?See more.

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Startup Events and Deadlines

1. Pitch and Run Friday?| Dec 27 | NYC
2. Founders Running Club :: New York?| Dec 28 | NYC
3. Holiday Breakfast: Web3 & AI Founders?| Dec 28 | San Francisco
4. "fun house" - #1 New Years Eve Party - for vc's, creators + tech founders by TappedX| Dec 31 | NYC

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OpenAI's humanoid robot ambitions

OpenAI has reportedly?explored creating its own humanoid robot, according to?The Information. While the company shut down its robotics division in 2021, it has since invested in Figure, 1X, and Physical Intelligence. Renewed interest in robotics comes amid rapid advancements in hardware and AI, though OpenAI faces stiff competition in this evolving field.

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OpenAI: who is REALLY in charge?

One of the most intense startup dramas of the year, with resignations, leaked emails, lawsuits, and more. It's like a never-ending saga. We tried breaking it down in a video to keep things simple, but it feels like there's always a new twist popping up every other day. Crazy times we're living in, right? ????Don’t forget to subscribe for more!

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