A Verified Mess: Turmoil from Twitter to FTX

<p>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?</p><p><i>“Hard Fork” listeners: We want to hear your questions about the tech industry. Send them to </i><a href="mailto:hardfork@nytimes.com" target="_blank"><i>hardfork@nytimes.com</i></a><i>. Also, check us out on TikTok: @</i><a href="https://www.tiktok.com/@hardfork?lang=en" target="_blank"><i>hardforkpod</i></a></p><p><strong>Additional Resources:</strong></p><ul><li>Elon Musk told Twitter employees the company <a href="https://www.nytimes.com/2022/11/10/technology/elon-musk-twitter-employees.html" target="_blank">faced a bleak financial picture</a> in a meeting with staff on Thursday and in his first companywide emails.</li><li>The world’s largest crypto exchange, Binance, said it had reached a deal to <a href="https://www.nytimes.com/2022/11/08/technology/binance-ftx-deal-crypto.html" target="_blank">buy its competitor FTX</a>, which was on the verge of collapse. The news about FTX had left <a href="https://www.nytimes.com/2022/11/09/business/dealbook/ftx-binance-crypto-deal.html" target="_blank">crypto investors scrambling</a>.</li><li>Is the collapse of FTX <a href="https://www.nytimes.com/2022/11/09/technology/cryptocurrency-binance-ftx.html" target="_blank">crypto’s Lehman Brothers moment</a>?</li><li>Meta announced <a href="https://www.nytimes.com/2022/11/09/technology/meta-layoffs-facebook.html" target="_blank">layoffs of 11,000 employees</a>, accounting for about 13 percent of its work force.</li></ul>