Techcrunch blog!: More Okta jobs cuts

Thursday, February 01, 2024

Good afternoon, and welcome back to TechCrunch PM! In this version, we continue to have more layoff news, as well as a gaggle of Google features and an urgent request for U.S. federal agencies. Buckle up! — Christine

Image Credits: Michael Vi / Getty Images

TechCrunch PM Top 3

Layoffs at Okta, Polygon: Okta is making another round of layoffs a year after performing the same shedding of jobs. Today, the access and identity management company said it was cutting 400 employees, or 7% of its workforce, citing rising costs and the need to grow profitably.

We also saw blockchain company Polygon lay off 60 employees. Though that seems like a small number, it is about 19% of its staff. CEO Marc Boiron said with a smaller team, it can "collaborate more, expedite demanding projects and execute at our highest potential."

Meanwhile, over at Google: A number of new features came out today. The most popular was its AI-powered image generator called ImageFX that creates images with a single prompt. Perhaps it was because Taylor Swift deepfakes were all over X recently. There is also an update to Bard, some generative AI tools for music creation and better search functions for Google Maps. Oh, and YouTube now has over 100 million subscribers.

The Apple Vision Pro is coming!: After viewing the Apple Vision Pro tutorial, you're now well-versed in what this baby can do. Now we're showing you all the app goodness that will be available once you get your hands on it. Meanwhile, Meta Quest provides support for Apple's Spatial Video ahead of the Vision Pro's launch tomorrow.

Image Credits: Sean Gallup / Getty Images

More top reads

Apple's official "jailbroken" iPhone: Apple used to not take too kindly to security researchers trying to sidestep its iPhone restrictions, commonly known as "jailbreaking." Now it's embracing the concept.

Searching . . . : The Browser Company, which makes the Arc browser, is building an AI agent that browses on your behalf while bypassing search engines.

Federal agencies told to disconnect Ivanti VPN: In a rare move, U.S. cybersecurity agency CISA (Cybersecurity and Infrastructure Security Agency) is now mandating that all federal civilian executive branch agencies disconnect all Ivanti VPN appliances due to numerous zero-day vulnerabilities currently being exploited by hackers.

Snap's Pixy recall: Some battery-related issues, including a minor fire, prompted Snap and the Consumer Product Safety Commission to recall Snap's discontinued Pixy drone. Owners were told to stop using it or charging the batteries because of a fire hazard.

Activist investor joins Etsy's board: Elliott Management, the investment management firm known for its aggressive governance tactics, has a nearly 13% stake in Etsy, and partner Marc Steinberg joins the board, saying there is "opportunity for significant value creation."

Image Credits: Hoyt LLC

Antitrust

Getting a handle on artificial intelligence is bonding antitrust enforcers all over the world. They just don't all agree on the same path. Reporting on a conference in Brussels this week, Natasha writes that U.S. enforcers say AI "demands 'extraordinary vigilance' and clear-sighted focus on how the market works." Meanwhile, European antitrust enforcers seemed hesitant on how to respond to the rise of generative AI.

Next, we take a look at the Epic and Apple antitrust saga, which wasn't over, then we thought it was, now it's not anymore. This time, Fortnite maker Epic Games is not happy with the way Apple has chosen to comply with a court order that required the tech giant to change its App Store rules. It's just one big, complicated mess. Sarah sorts it out for you.

Image Credits: Yuichiro Chino / Getty Images

On the pods

On today's Equity interview show, Alex spoke with Skyflow CEO Anshu Sharma about a theory he recently wrote up for TechCrunch: The Innovator's Dilemma and why he thinks the Apple Vision Pro is going to make it. Listen here.

In this week's Chain Reaction, Jacquelyn interviewed Chris Dixon, general partner at venture capital firm Andreessen Horowitz and the author of the recently released book "Read Write Own: Building the Next Era of the Internet." Among the topics discussed, they get into the new book, how crypto's perception has changed and what purpose blockchains can ultimately bring to the world. Listen here.