Adobe buys Figma, Uber gets hacked and Google reduces Area 120

Hello friends! Welcome to Week in Review, the newsletter where we quickly summarize the most read TechCrunch stories from the last seven days. The goal? Even if you've had a busy week, a brief overview of WiR should keep you up to date (on the technology).

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This week has been all over the place, with another big story popping up every two hours. Let's go, okay?

most read Discounts at Area 120: Area 120 is Google's internal incubator, intended to allow Googlers with potentially 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 Figma: In one of the biggest technology acquisitions of all time, Adobe announced this week that it plans to buy collaborative/web-based design tool Figma for a whopping $20 billion. Figma has seen ridiculous growth throughout the pandemic as so many technical teams have walked away 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 Twilio: Twilio 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 rolled out to Apple devices this week. Want our opinion on this? 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 for Do Kwon, the founder of Terraform Labs," Manish writes, "is intensifying its investigation into the crypto ecosystem whose two tokens lost $40 billion in value in a matter of days earlier this year. Uber Hack: Late Thursday night, Uber confirmed it was "responding to a cybersecurity incident" after a hacker apparently breached the company's internal network, with the hacker apparently announcing their 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 team explained how Y Combinator has evolved in recent years, the Chain Reaction team "digged into the institutional embrace of blockchains by financial heavyweights", and the Found team won all the "greatest hits" by revisiting an interview with Figma founder Dylan Field from earlier this year.

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