Expense management startup Brex, which was valued at $12.3 billion two years ago, laid off 282 people, or about 20% of its staff today.
The once high-flying fintech startup sent a note to employees (that was also published on the company’s website) today, announcing the news.
In addition, Brex announced that its COO, Michael Tannenbaum, is transitioning from his role to become a board member.
It is not clear how many employees Brex has today, though its layoff indicates the figure at around 1,400 before its latest cuts.
But that growth has since slowed, largely due to the hike in interest rates and resulting slowdown in VC funding.
Apple will pay artists more to have a spatial audio version on Apple MusicApple will pay additional royalties starting this month to artists if they have a spatial audio version on Apple Music, according to multiple reports.
The company will pay up to 10% additional royalty if an artist has all their songs in spatial audio, per a report by 9to5Mac.
The extra money doesn’t depend on users playing the spatial audio version, though.
In December, Bloomberg reported that Apple was planning to introduce incentives for artists to add songs to Apple Music that are mixed on Dolby Atmos technology.
Apple Music rivals including Amazon Prime Music, Tidal, and Deezer offer spatial offers.
Instagram is launching the ability for users to post video Notes, the company announced on Wednesday.
Up until now, you could only post text or emojis to your status update.
Now, you can post a two-second looping video Note that will be visible to your mutual followers or Close Friends for 24 hours.
Another differentiator between video Notes and video Stories is that you can only post content from your front-facing camera when sharing video Notes.
Plus, you have to capture the content in the app when posting a video Note, which means that you can’t upload a video from your phone’s camera gallery.
The new Community Notes feature on Twitter is giving a chance to users to withdraw retweets for false information. This will help prevent the rapid spread of misinformation on the…
