It’s Countdown time, friends. I’m Diamond Naga Siu, and it’s the penultimate (woah — a word I don’t get to use often) day of this newsletter.
As a bittersweet reminder, this is the last week of 10 Things in Tech. I’m moving over to our flagship newsletter Insider Today. And it’ll continue keeping you updated on the top tech news of the day. Sign up for it here!
Also, please let me know what you want to see in Insider Today. Feel free to reach out at dsiu@insider.com with feedback, tips, food recs, jokes, or anything else.
Before I get in my feels, let’s dive into today’s tech.
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Chelsea Jia Feng / Insider
1. Founders from startup studios say they’re ‘blacklisted’ from investors. Startup studios like Fractal think of startup ideas, then hire founders to execute the vision. But multiple Fractal founders say their businesses are on life support. Plus, they claim that investors seem to run when they hear the name Fractal.
“There’s a cancer on all of the businesses that are coming out of this studio,” one founder told Insider. Many of them think it’s because of how startup studios structure terms and conditions for investing — they take a massive chunk of ownership.Investors also prefer when startup founders create the ideas themselves. So founders said that the selling point for startup studios is actually a double-edged sword.My colleagues Melia Russell and Stephanie Palazzolo spoke with 20 founders associated with Fractal and broke down the unique struggles they face.
Dive into their hurdle-filled startup journeys here.
In other news:
Tyler Le/Insider
2. AI voice generators are scamming parents. The call is from an unknown number. But the voice sounds like your kid asking for money. New technology is making imposter scams easier and more believable. Get all the details of this supercharged scam here.
3. Google’s controversial Pride Month drag show. Hundreds of employees signed a petition opposing the company-sponsored drag show. They claimed it disrespected Christian workers and that it amounted to religious discrimination. More on the dispute here.
4. How to land deals with brands. Insider compiled dozens of media kits that influencers use to land brand deals. These examples helped influencers partner with Nike, Abercrombie, Amazon, Tinder, and other major companies. Check them out here.
5. No bonuses, no salaries, no negotiations. OpenAI (the creator of ChatGPT) has a straightforward compensation system. All employees get a flat base salary of $300,000 and $500,000 in equity yearly. That’s it. More on the unusual salary structure here.
6. Shopify’s midlife crisis. Layoffs. A failed logistics pivot. Culture shifts. The e-commerce company is struggling to redefine itself. Now, it’s planning to pair AI with its original (and successful) software — it just might work. Look into the tumultuous company’s future here.
7. Microsoft’s former HR VP: Leave right away if you’re put on a PIP. Chris Williams explained that “surviving [a performance improvement plan] is like a sign on your back.” Here’s his step-by-step advice on what to do after getting “PIPed.”
8. From selling generic Viagra to selling prescription weight-loss drugs. Injectable anti-obesity and diabetes drugs like Ozempic remain in high demand. So digital-health startup Ro pivoted its business plan to bet on the hype. More on its strategy switch here.
Odds and ends:
The 120-year-old house in Syracuse, New York was purchased for $7,500.
Greater Syracuse Land Bank
9. This couple is transforming a $7,500 abandoned New York home. Dr. Lindsay Noah-Vermillion and Jim Vermillion are restoring a 120-year-old house back to its Victorian glory. They took Insider behind the scenes of the transformation. Check it out here.
10. Leasing a car actually makes sense. Despite conventional wisdom, leasing makes a lot of sense for car buyers. It puts people in less debt. You can drive a nicer vehicle. And most repair costs fall on the dealership. Hop in for the full picture here.
What we’re watching today:
After years of delay, Virgin Galactic is launching commercial space operations today. Crewmembers will conduct microgravity research.SpaceX’s Cargo Dragon will leave the International Space Station and head back to Earth. Watch NASA’s livestream here.The Confidential Computing Summit is today in San Francisco. Speakers include leaders from Intel, Microsoft, MIT, and other major institutions.
Curated by Diamond Naga Siu in San Diego. (Feedback or tips? Email dsiu@insider.com or tweet @diamondnagasiu) Edited by Alistair Barr (tweet @alistairmbarr) in Silicon Valley and Hallam Bullock (tweet @hallam_bullock) in London.