This week saw FTX shrink from $32 billion of value to zero in less than 48 hours. @TheInformation is doing great reporting. It seems the ill-named founder @SBF_FTX - Sam Bankman-Fried - invested hundreds of millions into Sequoia and other funds. The @SECGov failure to provide a regulatory framework for Crypto seems even more silly. But @DavidKirkpatric and @LHSummers provide a thoughtful distraction from the noise.

Contents Editorial: I Vote For Change

Essays of the Week: The end of the Internet?

• In Our Own Best Interests - Techonomy - David Kirkpatrick
• Larry Summers Compares the Surge of Pain in Tech to the Dot-Com Bubble

The Big FTX Collapse

• Sam Bankman-Fried’s Late-Night Move and How the FTX House Crumbled
• FTX’s $2 Billion Startup Fund Ensnared in Collapse
• FTX’s Bankman-Fried Quietly Invested More than $500 Million in Sequoia and Other VCs — The Information
• Binance walks away from FTX deal, citing ‘mishandled customer funds,’ regulatory scrutiny

Substack

• Introducing Mentions and Cross-Posts
• The Substack Bestseller Badge

Zoom Zooms

• Zoom is coming for Microsoft’s territory with email and calendar services
• Tesla vehicles will soon have Zoom video conferencing

This Week in Twitter

• Musk Warns Twitter May Lose Billions Next Year
• Musk ends remote work at Twitter
• Elon Musk sells Tesla shares worth $4bn

News of the Week

• Meet The New Unicorns Minted In October 2022
• Tiger Global Slashes Value of Private Tech Bets by Billions, Documents Show
• VC firm Molten Ventures cuts portfolio value after tech sell-off
• Changing times (or, why is every layoff 10-15%?
• Stripe will lay off 14% of its employees

Startup of the Week

• The Internet

Tweet of the Week

• Sam Bankman-Fried