You’re halfway through the week, readers. On today’s agenda, we’ve got more Elon Musk news, a dash of Amazon compensation drama, and some fun electric vehicle stuff, as a treat.
Let’s dive in.
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1. Amazon employees have mixed feelings about their updated salaries. When Amazon announced a shift in its compensation plan in February, employees anticipated major salary bumps. But after receiving their updated pay stubs this month, many are expressing dashed hopes of substantially higher income.
- Insider spoke with more than a dozen employees, and while some reported as high as 90% increase in total compensation, others said their raises fell short of expectations.
- Record levels of inflation, combined with Amazon’s notoriously frugal pay, has sent some employees searching for jobs at different companies.
- “… you’re seeing executives getting raises,” one employee said. “But the very people from the warehouse level to the corporate side are not seeing a massive increase.”
Here’s what other employees told us.
In other news:
2. Ford is already planning an electric truck to follow the F-150 Lightning. Less than 24 hours after the company launched production of the first electric F-150s, Ford announced its newest plan to leapfrog Tesla as the top seller of EVs. Everything we know about the next electric pickup.
3. Elon Musk is beefing with Pete Buttigieg. Even though Musk was only able to buy Twitter because he’s received billions in government handouts, the Tesla CEO is still going after the federal official who holds the greatest sway over his primary business. We explain the feud.
4. Robinhood is cutting hundreds of jobs. In a message posted to the company website, CEO Vlad Tenev announced the stock-trading company would be laying off 9% of its workforce. What we know so far.
5. San Franciscans describe going from homelessness to Big Tech jobs. While the tech industry – and the gentrification it brings – is often seen as a cause of homelessness, it’s also becoming a way out, with nonprofits and tech companies partnering up to help people land high-paying jobs at firms like Apple, LinkedIn, and Twitter. Four people who completed the programs explained how it works.
6. Nike is hiring for tech roles. We broke down how much you can make in each one. With the retailer on the hunt for designers, data analysts, and engineers, we looked into the positions’ salaries – many of which start in the six figures. Here’s what you could do in each role.
7. Musk said he doesn’t care about Twitter’s economics. So how did he secure billions to buy the money-losing social media giant? Well, money begets more money: Bankers clamored for exposure to Musk and his other businesses – like Tesla and SpaceX – despite Twitter being a financial quagmire. Here’s what they told us.
8. The week of Big Tech earnings continues. While Microsoft beat earnings expectations across the board, Google’s parent company Alphabet posted slowing sales growth, with YouTube a particular miss.
Odds and ends:
9. Need attention? Buy the EV people can’t take their eyes off of. The $ 53,000 Kia EV6 is a striking, sporty electric SUV whose biggest flaw is that people won’t leave you alone. Get a look at the electric vehicle people can’t help but gawk at.
10. This $ 350 bike desk has a cult TikTok following. An Insider reporter tested out Flexispot’s stationary bike with a built-in desk, and found it was fairly easy to assemble, and that she’s more productive while steadily pedaling away. Why she’s recommending it to everyone she knows.
What we’re watching today:
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Curated by Jordan Parker Erb in New York. (Feedback or tips? Email email@example.com or tweet @jordanparkererb.) Edited by Shona Ghosh in London.