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The downsizing follows a week of business updates for eBay. On the same day it shared its latest financial results, the company announced that it would acquire Depop, a consumer-to-consumer secondhand fashion retailer, from Etsy. The Depop purchase carried a $1.2 billion price tag, which could put at least a small dent in the $11.1 billion it reported in 2025 full-year revenue.
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Michael has since apologized for both incidents, took a brief detour as a SPAC CEO, yet found himself back in Washington when Donald Trump tapped him in December 2024 to become undersecretary of defense for research and engineering—effectively the Pentagon’s chief technology officer. The Senate confirmed him in 2025, installing a Silicon Valley–trained business executive at the center of how the War Department thinks about AI, autonomy, and advanced weapons systems.
Apple’s revamped compact workout Beats earbuds stick to a winning formula, while slimming down and improving comfort.
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