Jack Dorsey’s Block Cuts 4,000 Jobs. Stock Jumps 25%.
In today's newsletter:
- $6B licensing team reserves Nasdaq ticker - private round almost full
- Jack Dorsey’s Block cuts 4,000 jobs. Stock jumps 25%.
- OpenAI engineer quits, says AI work became scary and burned him out
- Silicon Valley startups are making employees take off their shoes at work
$6B Licensing Team Reserves Nasdaq Ticker - Private Round Almost Full
Did you know Disney Princess alone has generated over $45B in global revenue?
Now, Elf Labs’ leadership team ($6B+ in licensing deals in their careers) orchestrated a 10-year legal effort securing rights to legendary character IP like Cinderella and Snow White.
They’re bringing them to life through multi-patented immersive technology across entertainment, gaming, and consumer products — a market estimated at over $2 trillion.
Their private round is over 96% full, and the company just reserved their Nasdaq ticker: $ELFS.
Jack Dorsey’s Block Cuts 4,000 Jobs. Stock Jumps 25%.
Block laid off about 4,000 people, nearly half the company, and Wall Street basically threw a party. The stock jumped around 25% after the announcement.
Jack Dorsey basically said, “AI can do more of this work now.”
Imagine your boss firing half the office and investors saying, “Brilliant. Give him a raise.”
Block isn’t broke. Cash App is growing. Profits are up. This wasn’t panic, it was strategy. The message was simple: smaller team, more AI, bigger margins. And the market loved it.
If cutting humans boosts your stock price, what do you think other CEOs are thinking right now? And if investors reward that behavior, how long before this becomes the new playbook?
OpenAI Engineer Quits, Says AI Work Became Scary and Burned Him Out
Hieu Pham, who worked on cutting-edge AI systems, publicly said the mental toll was scary and dangerous.
Imagine landing one of the most elite tech jobs on Earth and then realizing your nervous system can’t keep up with your stock options. Turns out move fast and break things sometimes includes your sleep schedule and sanity.
If the people building super-intelligent systems are burning out, what does that say about the pace of this AI arms race?
We cheer product launches, funding rounds, and billion-dollar valuations but who’s checking on the humans writing the code at 2 a.m.? Is this just the cost of staying ahead, or are we sprinting toward the future like it’s a Black Friday sale?
If the builders are overwhelmed, maybe the rest of us should pause and ask: how fast is too fast?
Silicon Valley Startups Are Making Employees Take Off Their Shoes at Work
Employees walk in, kick off their Nikes, and code in socks like they’re at grandma’s house on Thanksgiving.
It started with a viral photo from an AI company called Cursor, and now a few other startups are doing it too. The idea? Make the office feel more like home.
Because nothing says cutting-edge artificial intelligence like a pile of sneakers by the front door. On one hand, okay, comfort makes sense. After years of working in hoodies on Zoom, maybe no one wants stiff office vibes anymore.
On the other hand are we building the future of humanity or hosting a sleepover?
Is this culture innovation, or just Silicon Valley running out of real perks?
Disclaimer: This newsletter is for informational purposes only. Details may change or come from third-party sources; always do your own research and consult a qualified professional before making decisions.
*Disclosure: This is a paid advertisement for Elf Labs’ Regulation CF offering. Please read the offering circular at elflabs.com
Timelines are subject to change. Listing on the NASDAQ is contingent upon necessary approvals, and reserving a ticker symbol does not guarantee a company's public listing.
