Has a16z run out of money? This wave of 'strategic adjustment' with Worldcoin sounds familiar

According to Business Insider, Tools for Humanity, the developer behind the crypto identity project World (formerly Worldcoin), co-founded by Sam Altman, is conducting layoffs internally. Although the company previously received massive funding from institutions like a16z with a valuation of $2.5 billion, its iris scanning device Orb's profit model and regulatory pressures remain severe. The specific number of layoffs has not been disclosed; an internal official email stated that this was a difficult decision made to align with the company's "next step" strategic direction.