Thirteen-year Facebook veteran, chief product officer and the spirit animal of the social network Chris Cox is departing the company after two years of seeking to do something new. Cox’s exit is part of a big executive reshuffle as Facebook embarks on prioritizing privacy through messaging, groups, Stories and back-end unification of its chat features.
CEO Mark Zuckerberg explained the departure of his long-time friend, saying, “For a few years, Chris has been discussing with me his desire to do something else . . . But after 2016, we both realized we had too much important work to do to improve our products for society, and he stayed to help us work through these issues and help us chart a course for our family of apps going forward. At this point, we have made real progress . . . As we embark on this next major chapter, Chris has decided now is the time to step back from leading these teams.”
Cox bowing out after so long is understandable, but more surprising is today’s departure of Chris Daniels, an eight-year employee who was moved from being head of Internet.org to VP of WhatsApp just last May in a major re-org. Daniels always felt like a strange choice to oversee international chat leader WhatsApp and its struggles with misinformation in India, given he’d led Internet.org when its zero-rated Free Basics app was banned in India for violating net neutrality.
The changes solidify that Facebook is entering a new era as it chases the trend of feed sharing giving way to private communication. Cox and Daniels may feel they’ve done their part advancing Facebook’s product, and that the company needs renewed energy as it shifts from a relentless growth focus to keeping its users loyal while learning to monetize a new from of social networking.
Here’s the breakdown of the executive changes:
- Chris Cox will depart Facebook, but hasn’t revealed plans for what’s next. He will not be immediately replaced
- Chris Daniels will leave WhatsApp, and Facebook declined to provide any details on why or the circumstances
- Will Cathcart will go from running the main Facebook app to VP of WhatsApp
- Fidji Simo, who was the VP of Product for Facebook video, news and advertising, will take over Cathcart’s role running Facebook’s main app
- Javier Olivan, who was Facebook’s VP of growth, will lead the task of identifying how to integrate Facebook’s products, including the plan to unify the backend of Facebook Messenger, WhatsApp and Instagram direct to expand encryption and allow cross-app messaging that some see as a shield against Facebook being broken up
- Instagram VP Adam Mosseri, Messenger’s VP Stan Chudnovsky, Simo, and Cathcart will now report directly to Zuckerberg, while Chief Marketing Officer Antonio Lucio reports to COO Sheryl Sandberg
Cox was one of Facebook’s first 15 engineers, joining in 2005 after Zuckerberg convinced him to drop out of a Stanford grad program. He became Facebook’s director of Human Resources and, in 2008, its VP of product. He was promoted to CPO in 2014 and aided in Facebook’s clean-up after the 2016 presidential election, working on misinformation and at-risk countries to deter future attacks on democracy. Over the years, he remained a fixture of Zuckerberg’s inner circle of friends and lieutenants. Oh, and he’s a wicked keyboardist who plays is a very respectable reggae band.
Known for his hit talk revealing the Timeline profile at F8 2011 and giving rousing orientation speeches to each batch of new Facebook employees, Cox’s departure could drag on Facebook’s already shaky morale. Some staffers saw him as a preferred replacement for Zuckerberg should he ever leave the CEO role. That leaves the line of succession an open question at Facebook, with Sandberg, Olivan and Mosseri as the most likely candidates. Cox was seen as so essential that Facebook filed an 8-K disclosure with the SEC about his departure.
The biggest clue to Cox’s departure might be the juxtaposition of a line from his departure note with one from Zuckerberg’s. Cox writes about redefining Facebook around privacy and encryption that “This will be a big project and we will need leaders who are excited to see the new direction through.” Meanwhile, Zuckerberg wrote “Will [Cathcart] has helped lead our teams focused on security and integrity, and he believes deeply in providing end-to-end encryption to everyone in the world across our services.” Reading between the lines, it seems Cathcart was more enthusiastic about executing Facebook’s new roadmap of encryption than Cox.
Some consider encryption as a potential hinderance to other safety work, as it could make it difficult to detect the spread of misinformation or illegal activity. TechCrunch’s investigation into child sexual abuse imagery on WhatsApp revealed that its end-to-end encryption makes it much tougher to catch bad actors.
The change in priority from growth to sustainability through privacy is cemented by Olivan’s new responsibilities. While rarely in the spotlight, his team was seen as one of the most important and powerful at the company. His talents will be applied to making Facebook’s apps work together to prevent churn of its enormous user base, which will take careful product design and a savvy understanding of people’s expectations. Instagram and WhatsApp have become golden geese for Facebook, and Olivan will have to ensure they’re not tarnished through deeper connections to Facebook’s battered brand.
Hey everyone — I want to share some important updates as we organize our company to build out the privacy-focused social platform I discussed in my note last week. Embarking on this new vision represents the start of a new chapter for us.
As part of this, I’m sad to share the news that Chris Cox has decided to leave the company. Chris and I have worked closely together to build our products for more than a decade and I will always appreciate his deep empathy for the people using our services and the uplifting spirit he brings to everything he does. He has played so many central roles at Facebook — starting as an engineer on our original News Feed, building our first HR teams and helping to define our mission and values, leading our product and design teams, running the Facebook app, and most recently overseeing the strategy for our family of apps. Along the way, Chris has helped train many great leaders who are now in important roles across the company — including some who will now take on bigger roles in our new product efforts.
For a few years, Chris has been discussing with me his desire to do something else. He is one of the most talented people I know and he has the potential to do anything he wants. But after 2016, we both realized we had too much important work to do to improve our products for society, and he stayed to help us work through these issues and help us chart a course for our family of apps going forward. At this point, we have made real progress on many issues and we have a clear plan for our apps, centered around making private messaging, stories and groups the foundation of the experience, including enabling encryption and interoperability across our services. As we embark on this next major chapter, Chris has decided now is the time to step back from leading these teams. I will really miss Chris, but mostly I am deeply grateful for everything he has done to build this place and serve our community.
At the same time, as we embark on this new chapter, Chris Daniels has also decided to leave the company. Chris has also done great work in many roles, including running our business development team, leading Internet.org, which has helped more than 100 million people get access to the internet, and most recently at WhatsApp, where he has helped define the business model for our messaging services going forward. Chris is one of the clearest and most principled business thinkers I’ve met and the diversity of challenges he has helped us navigate is impressive. I’ve really enjoyed working with Chris and I’m sure he will do great work at whatever he chooses to take on next.
While it is sad to lose such great people, this also creates opportunities for more great leaders who are energized about the path ahead to take on new and bigger roles.
I’m excited that Will Cathcart will be the new head of WhatsApp. Will is one of the most talented leaders at our company — always focused on solving the most important problems for people and clear-eyed about the challenges and tradeoffs we face. Most recently he has done a great job running the Facebook app, where he has led our shift to focusing on meaningful social interactions and has significantly improved the performance and reliability of the app. In his career here, Will has helped lead our teams focused on security and integrity, and he believes deeply in providing end-to-end encryption to everyone in the world across our services.
I’m also excited that Fidji Simo will be the new head of the Facebook app. She is one of our most talented product and organizational leaders — passionate about building community and supporting creativity, and focused on building strong teams and developing future leaders. She has played key roles in building many aspects of the Facebook app, including leading our work on video and advertising. She believes deeply in helping people get more value out of the networks they’ve built. She has already led this team for much of last year while Will was out on parental leave, and she is the clear person to lead these efforts going forward.
Our family of apps strategy has been led jointly by Chris Cox and Javier Olivan. Chris managed the leaders of the apps directly and Javi has been responsible for all of the central product services that work across our apps, including safety and integrity, analytics, growth, and ads. Javi will now lead identifying where our apps should be more integrated. Javi is an incredibly thoughtful, strategic and analytical leader, and I’m confident this work will continue to go well. Since we have now decided on the basic direction of our family of apps for the next few years, I do not plan on immediately appointing anyone to fill Chris’s role in the near term. Instead, the leaders of Facebook (Fidji Simo), Instagram (Adam Mosseri), Messenger (Stan Chudnovsky), and WhatsApp (Will Cathcart) will report directly to me, and our Chief Marketing Officer (Antonio Lucio) will report directly to Sheryl.
This is an important change as we begin the next chapter of our work building the privacy-focused social foundation for the future. I’m deeply grateful for everything Chris Cox and Chris Daniels have done here, and I’m looking forward to working with Will and Fidji in their new roles as well as everyone who will be critical to achieving this vision. We have so much important work ahead and I’m excited to continue working to give people the power to build community and bring the world closer together.
It is with great sadness I share with you that after thirteen years, I’ve decided to leave the company.
Since I was twenty-three, I’ve poured myself into these walls. The pixels, the code, the products we’ve built together, the language, the culture, the values, the big ideas, and most of all, the people. Most all my personal highs and lows of the last decade have been tied up in the journey of this company, with Mark, and with so many of you. This place will forever be a part of me.
On Monday I gave my last orientation at Facebook to a hundred new faces. For over a decade, I’ve been sharing the same message that Mark and I have always believed: social media’s history is not yet written, and its effects are not neutral. It is tied up in the richness and complexity of social life. As its builders we must endeavor to understand its impact — all the good, and all the bad — and take up the daily work of bending it towards the positive, and towards the good. This is our greatest responsibility.
As Mark has outlined, we are turning a new page in our product direction, focused on an encrypted, interoperable, messaging network. It’s a product vision attuned to the subject matter of today: a modern communications platform that balances expression, safety, security, and privacy. This will be a big project and we will need leaders who are excited to see the new direction through.
I’m proud of the team who will succeed me: Fidji, Will, Adam, Stan, and Antonio. They are strong leaders, serious thinkers, good managers, craftspeople, and most importantly, deeply good people. I trust that, along with Mark, they will carry on the work of building out our platforms in a way that honors the responsibilities we have to the billions of people who rely upon our tools each day.
Mark, thank you for creating this place, and for the chance to work beside a dear friend for over thirteen years. Thank you Sheryl, Schrep, and Javi for your partnership, and for showing me what a wise and dedicated team is meant to be. And to the company: thank you for your creativity, humanity, resilience, and sleepless nights. It has been an honor to work alongside you and I will miss you dearly.
Musk says Twitter will offer “amnesty” to suspended accounts • TechCrunch
Elon Musk said Thursday Twitter will grant “a general amnesty” to accounts that had been suspended from the platform beginning next week. The CEO posted a poll the day earlier over whether the platform should restore affected accounts.
The news comes within a week of Musk also ending former president Donald Trump’s ban from the platform after running a similar poll. Trump was banned after the January 6, 2021 attack on the U.S. Capitol, but said he doesn’t intend to return to the platform.
Musk’s poll to users included a caveat that suspended account holders could rejoin the platform “provided they have not broken the law or engaged in egregious spam.” Around 3.2 million users responded to the poll, which voted 72.4% in favor of amnesty.
“The people have spoken. Amnesty begins next week. Vox Populi, Vox Dei,” Musk said, using a Latin phrase that means “The voice of the people is the voice of god.”
Historically, Twitter has banned accounts that glorify hate and harassment, have the potential to incite violence or rampantly spread misinformation that can lead to harm. Some high profile individuals who were banned include MyPillow CEO Mike Lindell after he made a series of claims that Trump actually won the 2020 presidential election; former Trump advisor and former executive chairman of Breitbart Steve Bannon after he said Anthony Fauci and FBI Director Christopher Wray should be beheaded; and Proud Boys founder Gavin McInnes for violating the site’s policy of prohibiting violent extremist groups.
It’s unclear from Musk’s brief tweet how Twitter will deal with content moderation in the future, now that more potentially problematic voices will be returning to the platform. These concerns have only been exacerbated by Musk’s mass layoffs and the general exodus of employees who’d rather quit than be “hardcore.”
Amazon is working on a TV series about FTX drama with Russo Brothers • TechCrunch
The FTX drama is not over yet — and Amazon wants a piece of it. The company is partnering with Russo Brothers, best known for Marvel movies, to make a show on the spectacular collapse of the giant cryptocurrency empire.
Amazon has partnered with the duo’s production house AGBO to make the show, which will go into production in Spring 2023, Variety first reported. Amazon is also trying to rope in the brothers to direct the show, the report added.
The company confirmed the news in a statement and said “Hunters” creator David Weil will write the pilot.
“We are excited to be able to continue our great working relationship with David, Joe, Anthony, and the AGBO team with this fascinating event series I can’t think of better partners to bring this multifaceted story to our global Prime Video audience,” Amazon Studios head Jennifer Salke said.
The Russos are also working with Amazon to create a multinational international spy series called “Citadel.”
“This is one of the most brazen frauds ever committed. It crosses many sectors — celebrity, politics, academia, tech, criminality, sex, drugs, and the future of modern finance,” the Russos said of the upcoming show surrounding FTX in a statement. “At the center of it all sits an extremely mysterious figure with complex and potentially dangerous motivations. We want to understand why.”
FTX and its former CEO Sam Bankman-Fried have been at the center of media coverage across the world after the celebrated cryptocurrency exchange imploded earlier this month.
Coindesk reported earlier about the concerning finances of Alameda Research, the trading firm founded by Bankman-Fried and intertwined closely with the exchange. The report triggered a set of events, culminating in Binance chief executive Changpeng “CZ” Zhao unveiling plans to sell FTX’s native token FTT that it had received as part of an investment exit from the firm.
The move shook the confidence of retail investors and prompted a bank run on FTX and unraveled fraudulent misuse of FTX customers’ data.
Bankman-Fried, who along with his firm have attracted regulatory scrutiny in recent weeks, attempted to salvage FTX by signing a deal to be acquired by Binance, its chief rival then. Binance pulled out of the deal after finding FTX had dug too deep of a hole in its balance sheet. Within days, FTX filed for bankruptcy with Bankman-Fried stepping down from the CEO post.
In the aftermath of this chaos, Bankman-Fried gave a Vox reporter an interview over Twitter direct messages in which he criticized regulators and expressed regrets about filing for bankruptcy and walked back on many of the long-believes he had portrayed about himself to the world. Reports have since also found that FTX used corporate funds to purchase houses for employees and owes the top 50 creditors over $3 billion.
Time for the show
All of this makes for a good TV, for sure. It also helps that startup founders doing things has become a sleeper hit of a genre in recent years as evidenced by hits like “WeCrashed” (Apple TV+) on the WeWork and Adam Neumann fiasco, “Dropout” (Hulu) on the Theranos-Elizabeth Holmes saga, and “Super Pumped” (Showtime) on Uber led by Travel Kalanick. So Amazon is keen to get a hit show centering on a controversial tech founder on its catalog. But we could see more adoption of the FTX story.
Earlier this week, Deadline reported that buyers — including Apple — are chasing to sign celebrated author Michael Lewis’ yet-to-be-published book. Lewis — who has previously written hits that were later adapted into movies such as “The Big Short,” “Moneyball,” and “The Blind Side” — had been closely following Bankman-Fried for over six months before the recent implosion.
Amazon’s show will be based on “insider reporting” from various journalists who have covered the issue extensively, according to Variety.
Mark Cuban-backed streaming app Fireside acquires Stremium to bring live, interactive shows to your TV • TechCrunch
Mark Cuban-backed streaming app Fireside, which today offers podcasters and other creators a way to host interactive, live shows with audience engagement, will soon expand to the TV’s big screen. Variety reported, and Fireside confirmed, it’s acquired the open streaming TV platform Stremium, which will allow Fireside’s shows to become available to a range of connected TV devices, including Amazon Fire TV, Roku, smart TVs and others.
Deal terms were not disclosed. Cuban retweeted Variety’s reporting but made no other public comment.
A company spokesperson confirmed the deal to TechCrunch, noting it was for a combination of IP and talent.
“Fireside has acquired all of Stremium including its full team and intellectual property,” the spokesperson said. “The company is the first interactive web3 streaming platform and the acquisition will help Fireside accelerate delivering on being the only platform that turns creators, celebrities, brands, and IP owners into the studio, networks, and streaming services of the future. Expect other major announcements coming soon on this front,” they added.
Launched just over a year ago, Fireside arrived on the heels of the pandemic-fueled demand for startups offering live entertainment as well as a growing number of startups catering to the creator economy.
Despite some early — and erroneous — comparisons between Fireside and other live audio platforms like Twitter Spaces or Clubhouse, the startup gained traction due to a differentiated feature set that also prioritizes video content. Shows on Fireside’s platform could be streamed live to its app, recorded, saved, or even simulcast to other social networks. The app additionally includes audience engagement tools and other features to aid creators with promotion, editing, measurement, distribution, monetization, and audience growth, all of which are part of Fireside’s end-to-end content production experience. More recently, the company had been exploring web3 technologies, including NFTs.
Co-founded by Cuban, early Yammer employee Mike Ihbe, and former Googler, YouTuber and Node co-founder Falon Fatemi, who sold her last company to SugarCRM, Fireside has managed to attract some high-profile creators like Jay Leno, Michael Dell, Melissa Rivers, Craig Kilborn, and screenwriter and Entourage creator Doug Ellin over the past year.
In a letter to Fireside investors published by Variety, Fatemi shared that the Stremium acquisition would help Fireside to offer a “second screen experience where the audience can use their phones to engage and interact in real-time while watching on their TVs.”
“Imagine watching a live cookalong show with your favorite chef simultaneously on your TV and your phone where you can interact and get invited to talk directly to them and even show them what you are cooking from the palm of your hand,” Fatemi explained. Plus, Stremium’s infrastructure would allow creators to upload, publish, program and distribute their live shows across both mobile and TV, she added. (Stremium confirmed to us the letter’s accuracy.)
TechCrunch this February reported Fireside was in talks to raise a $25 million Series A that valued its business at $125 million. That round has since closed, but Fireside hasn’t yet made a formal announcement about raise, investors, or its valuation. We understand this may be because Fireside is still adding some additional strategic investors to the deal, and it plans to detail the fundraise soon. Of course, the funding may have helped pave the way for Fireside to make this new acquisition.
Other investors in Fireside include the Chainsmokers, HBSE, Goodwater, Animal Capital, and NFL stars Larry Fitzgerald and Kelvin Beachum and former NBA star Baron Davis, in addition to Cuban. Ahead of its Series A, Fireside had raised around $8 million.
Stremium had been developing a service that allowed consumers to aggregate all their favorite channels using their “TV Everywhere” credentials and use a cloud DVR instead of downloading separate streaming apps. It also included a selection of free streaming channels. But the service faced an increasingly competitive landscape where there are now numerous ways to watch free streaming content, like Tubi, Pluto TV, The Roku Chanel, Freevee (formerly IMDb TV), Plex, and more. Meanwhile, cord-cutting is accelerating leaving fewer people with cable TV logins for Stremium to market its services to.
The Stremium website is now pointing visitors to Fireside and confirms the acquisition. Fireside is aiming to release its TV product sometime next year as a result of the deal.
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