Adobe buys Figma, Uber gets hacked and Google shrinks Area 120 TechCrunch

Hello friends! Welcome back Week is rated, the newsletter where we quickly put together the most read TechCrunch stories of the past few days. Purpose? Even if you’ve had a busy week, a quick glance at WiR will keep you up to date (technology).

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This week is not good at all, every few hours another big story happens. Come now, won’t you?

Most read

  • Restricted to Area 120: Area 120 is Google’s internal incubator, intended to allow Google employees with potentially big ideas to tap into the company’s vast resources to turn said ideas into reality. This week, however, Google confirmed that it is cutting in half the number of Area 120 projects currently under development, with the incubator “shifting its focus” to AI projects. Affected employees will have until early 2023 to find a new job within Google.
  • Adobe buys Figma: In one of the biggest tech acquisitions of all time, this week Adobe announced its intention to buy the web-based/collaborative design tool Figma for a whopping $20 billion. Figma saw comical growth during the pandemic, so many tech teams have gone remote and adjusted their workflows accordingly. Even for a company as large as Adobe, getting that part of the workflow back will be tough.
  • Layoffs at Twilio: Twilio confirmed this week that it will lay off about 11 percent of its workforce — about 800 to 900 people — as the company focuses on turning a profit by 2023.
  • iOS 16 Released: Like expected, iOS 16 was rolled out to Apple devices this week. Want our thoughts on it? Find Romain’s review here. Want to know all the new features not so obvious hidden in the update? Check out Ivan .’s list. Most of our readers seem to be looking for fun ways to use new widgets on Lock screen.
  • Korea issues arrest warrant for Terraform Labs founder: “A court in South Korea has issued an arrest warrant for Do Kwon, founder of Terraform Labs,” wrote Manish, “escalating the investigation into a cryptocurrency ecosystem that has lost $40 billion worth of two tokens. la over a period of a few days earlier this year. “
  • Hack Uber: Late Thursday night, Uber confirmed that it was “responding to a cybersecurity incident” after a hacker appeared to have breached the company’s internal network, with the hacker notified of the presence (and protesting the way Uber pays its drivers) right in Uber’s Slack.

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If you like TechCrunch for your eyes, check out TechCrunch for your ears. This week at TechCrunch podcast land, Equity the team talked about how Y Combinator has evolved in recent years, Chain reaction crew “digged deep into the institutional embrace of blockchains by major financial powers,” and Find the group hit all the “biggest hits” by reviewing interviews with Figma founder Dylan Field from earlier this year.

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