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Adobe buys Figma, Uber gets hacked and Google shrinks Area 120 • Technology Flow

Hello, friends! Welcome to Week in Review, a newsletter where we quickly summarize the most read Technology Flow stories from the past seven days. The goal? Even if you have a busy week, a quick skim of WiR will keep you in the (tech) loop.

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Everything happened a bit this week with another big story every couple of hours. Let’s dive right in, shall we?

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  • Cuts at Area 120: Area 120 is Google’s internal incubator, meant to allow Googlers with potentially big ideas to tap into the mega company’s resources to turn said ideas into reality. However, this week, Google confirmed that it is cutting half of the Area 120 projects currently in development, as the incubator “shifts its focus” to AI projects. Affected employees will be given until early 2023 to find a new job at Google.
  • Adobe bought Figma: In one of the biggest tech acquisitions of all time, Adobe this week announced its intention to buy collaborative/web-based design tool Figma for $20 billion. Figma saw Ridiculously Increasingly throughout the pandemic, many technology teams have gone remote and adjusted their workflows accordingly. Even for a large company like Adobe, getting that part of the workflow back is difficult.
  • Layoffs at Twilio: Twilio confirmed this week that it will cut about 11% of its workforce, between about 800 and 900 people, as the company focuses on reaching profitability in 2023.
  • iOS 16 goes live: As expected, iOS 16 rolled out to Apple devices this week. Want our thoughts on that? Find Romaine’s review here. Want to know all the not-so-obvious new features hidden in the update? Check out Evan’s list. Many of our readers are looking for interesting ways to use the new lock screen widgets.
  • South Korea issues arrest warrant for Terraform Labs founder: “A court in South Korea has issued an arrest warrant for Terraform Labs founder Do Kwon,” Manish writes, “intensifying an investigation into the crypto ecosystem whose two tokens lost $40 billion in value in a matter of days earlier this year. .”
  • Uber hack: Late Thursday night, Uber confirmed it was “responding to a cyber security incident” after a hacker appeared to have breached the company’s internal network, with the hacker reportedly reporting their presence (and protesting how Uber pays its drivers) right into Uber’s Slack.

Audio Roundup

If you like Technology Flow for your eyes, check out Technology Flow for your ears. On this week’s Technology Flow Podcast Land, the equity team talked about how Y Combinator has evolved in recent years, the Chain Reaction staff “digging into the institutional embrace of blockchains by established financial powerhouses” and the team that found them all “great successes.” Revisiting an interview with Figma founder Dylan Field from earlier this year.

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