Let’s jump in.
1. Insiders say Spring Health’s hard-charging culture fueled a staff exodus. Founded by April Koh, the $US2 ($AU3) billion mental-health startup offers therapy and coaching to corporations like Instacart — but some employees said their own mental health suffered because of the company’s culture.
- Some said the intense environment trickles down from Koh — now the youngest woman running a multibillion-dollar startup — and that “she could be less of an instigator for mental-health issues at a mental-health organization.”
- Workers described a culture of workaholism: one said he joined a meeting from a hospital bed while being treated for COVID-19, while another said she worked through a paid “mental-health day” at her manager’s direction.
- The pressure-cooker environment has sparked a staff exodus at Spring Health. The company, which has about 250 employees, has seen more than 40 staff members leave since March 2020.
In other news:
2. We rounded up the best early Black Friday deals for tech lovers. Samsung is kicking off the holiday shopping season early with up to 35% off gadgets like TVs and smartphones, and Amazon has sales on Apple Airpods Max, Roku Streaming Sticks, and more. Check out some of the best tech deals you can snag right now.
3. What happened to Clubhouse? Known for being the must-have audio app amid the pandemic, Clubhouse is losing its luster — hobbled by “drama rooms,” unhappy creators, dwindling users, and dubious advertisers. We take you inside the rise and fall of Clubhouse.
4. Facebook researchers wanted to block hate speech — but execs reportedly dismissed the motion to avoid backlash. Employees sought to crush racist and hateful posts on the social media platform, but executives rejected their plan, per The Washington Post. See the details of the internal report, called “Worst of the Worst.”
5. Google Cloud salespeople are worried about layoffs. Employees at Google’s growing cloud unit told us they’re frustrated about a new compensation structure that could make many of them ineligible for 25% of their cash bonuses — and some are worried the new structure could be a prelude to layoffs. Here’s what they told us.
6. Chinese Tesla competitor XPeng just revealed a sleek SUV. The G9 is Xpeng’s fourth vehicle, but it is the first built specifically to sell internationally and take on Elon Musk’s electric vehicle sales in Europe. The car has a high-end look and sports a sizable center touchscreen on its dash. Here’s what we know so far.
7. Crypto startup MoonPay scored a $US3.4 ($AU5) billion valuation on the back of its latest funding round led by Tiger Global. The Miami-based company, which describes itself as PayPal for crypto, plans to go on a hiring spree with the extra cash. Within two years, MoonPay has processed $US2 ($AU3) billion worth of digital transactions — and it plans to lead the way for widespread crypto adoption.
8. Walmart will be the first retailer to test Twitter’s new livestream shopping platform. On Nov. 28, Walmart will host a live Cyber Deals event on Twitter, where users will be able to buy products they see on a livestream. More on that here.
9. Elon Musk’s mother took a dig at Biden on Twitter. Maye Musk mocked Biden for saying GM “electrified the entire automobile industry,” skirting over the fact that Tesla cars account for nearly 80% of the EV market in the US. See the tweets here.
10. Jeff Bezos just donated $US100 ($AU138) million to the Obama Foundation. The donation, the largest individual donation in the organization’s history, will go to two youth organizations within the foundation. Get the rundown here.