This week, we go inside Elon Musk’s “dire” warnings, FTX’s spectacular collapse and Meta’s big layoffs. Has the tech industry lost its mind?

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Additional Resources:

• Elon Musk told Twitter employees the company faced a bleak financial picture in a meeting with staff on Thursday and in his first companywide emails.
• The world’s largest crypto exchange, Binance, said it had reached a deal to buy its competitor FTX, which was on the verge of collapse. The news about FTX had left crypto investors scrambling.
• Is the collapse of FTX crypto’s Lehman Brothers moment?
• Meta announced layoffs of 11,000 employees, accounting for about 13 percent of its work force.