Adobe buys Figma, Uber is hacked and Google reduces Area 120 • TechCrunch

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Hello friends! Welcome back to Week in Review, the newsletter where we quickly summarize the most-read TechCrunch stories from the past seven days. The goal? Even if you’ve had a busy week, a quick skim over WiR should keep you in the (technical) loop.

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This week was all over the place, with another big story unleashing every two hours. Let’s go, shall we?

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most read

  • Compressions in the 120 zoneArea 120 is Google’s internal incubator, intended to enable Googlers with potential big ideas to tap into the resources of the mega company to turn those ideas into something real. This week, however, Google confirmed it was cutting half of Area 120 projects currently in development, with the incubator “focusing” on AI projects. Affected employees have until early 2023 to find new employment with Google.
  • Adobe buys FigmaIn one of the biggest technology acquisitions of all time, Adobe this week announced plans to buy collaborative/web design tool Figma for a whopping $20 billion. Figma saw ridiculous throughout the pandemic as many tech teams have gone remote and adjusted their workflows accordingly. Even for a company as large as Adobe, it would have been difficult to recover this part of the workflow.
  • Layoffs at TwilioTwilio confirmed this week that it will lay off around 11% of its workforce – between 800 and 900 people – as the company focuses on profitability in 2023.
  • iOS 16 goes live: As expected, iOS 16 was rolled out to Apple devices this week. You want to have thought of it? Read Romain’s review here. Want to know about all the not-so-obvious new features hiding in the update? Check out Ivan’s list. Most of our readers seem to be looking for cool ways to use these new lock screen widgets.
  • South Korea issues arrest warrant for Terraform Labs founder“A South Korean court has issued an arrest warrant against Do Kwon, the founder of Terraform Labs,” writes Manish, “escalating its investigation into the crypto ecosystem whose two tokens lost $40 billion in value in l a few days earlier this year.
  • Uber HackLate Thursday night, Uber confirmed it was “responding to a cybersecurity incident” after a hacker apparently breached the company’s internal network, the hacker reportedly announced his presence (and protested the way Uber pays its drivers) directly in Uber’s Slack.

audio tour

If you like TechCrunch for your eyes, check out TechCrunch for your ears. This week in techCrunch podcast land, the Equity spoke about how Y Combinator has evolved over the past few years, the Chain Reaction team “digged into the institutional adoption of blockchains by stodgy financial powerhouses,” and The Founder had all the “greatest hits” revisiting an interview with Figma founder Dylan Field earlier this year.


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