What we’re reading (2/18)
“Amazon To Require Office Workers To Show Up In Person At Least Three Days A Week” (CNN Business). “The move, which takes effect May 1, marks an end to the remote- or hybrid-friendly policy that had been in place at Amazon (AMZN) previously. It also comes a month after Amazon (AMZN) confirmed plans to lay off more than 18,000 workers amid broader uncertainty in the economy.”
“Ousted Tesla Cofounder Martin Eberhard Sounds Off On Elon Musk, How The Company Has Changed, And The EV Wars” (Insider). “Eberhard said that there are a million things he would've done differently at Tesla knowing what he knows now but that they're mostly small regrets. For example, he said Tesla spent too much time debating whether to sell its cars through dealerships or directly to customers. He also said that while he would have made technical changes to the Roadster, overall he's proud of what the team created.”
“Guy Who Thinks WallStreetBets Has Gotten Stupid Still Wants To Own It” (Dealbreaker). “We here at Dealbreaker haven’t seen “The New Americans: Gaming a Revolution,” the meme-stock-mania documentary debuting at South by Southwest next month. Perhaps when and if we do, however, it will give us some insight into the future Jaime Rogozinski biopic that may or may not eventually be made by disgraced Hollywood blockbuster-builder Brett Ratner. Because the key thing about the founder of Reddit community r/WallStreetBets is that he got shitcanned and kicked off the now-legendary subreddit nearly a full year before r/WallStreetBets’ moment in the sun—early 2021’s GameStop frenzy. Which Rogozinski thinks was bullshit anyway.”
“IRS Nominee Says Agency Won’t Increase Audits Of Middle-Income Filers” (Washington Post). “The White House tapped Daniel Werfel, a longtime federal budget official who briefly served as acting IRS commissioner in 2013, to lead the tax agency as it receives an additional $80 billion over 10 years to revitalize its operations, increase enforcement on wealthy taxpayers and corporations, and modernize its decades-old information technology infrastructure. The money was approved as part of the Inflation Reduction Act backed by Biden and congressional Democrats.”
“Authorities Step Up Their Crypto Crackdown” (DealBook). “Atop the crypto crime blotter on Friday is the S.E.C.’s decision to charge Singapore-based Terraform Labs and its founder Do Kwon with orchestrating a multibillion dollar fraud. That announcement came as a federal judge in New York signaled that Sam Bankman-Fried, the founder of the bankrupt crypto exchange, FTX, could be facing jail time — and certainly harsher bail terms — unless he cuts back on his internet habits.”
