Best Tech News Site: October 2023

Tuesday, October 31, 2023

Buy now, pay later platform Tabby nabs $200M in Series D funding at $1.5B valuation

The past year and a half have witnessed multiple startups facing valuation cuts as funding from VCs waned in an environment of rising interest rates. In this context, fintechs, especially buy now, pay later companies serving Western customers, including Affirm, Afterpay and Klarna, have encountered challenges in the public and private markets. Yet, Tabby, a […]

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Buy now, pay later platform Tabby nabs $200M in Series D funding at $1.5B valuation

source https://techcrunch.com/2023/10/31/buy-now-pay-later-platform-tabby-nabs-200m-in-series-d-funding-at-1-5b-valuation/

Who’s going (and who’s not) to the AI Safety Summit at Bletchley Park?

Ahead of the AI Safety Summit starting tomorrow morning taking place outside of London in Bletchley Park, today, the U.K. government has confirmed more details about who is actually going to be attending the event. The list’s publication comes after weeks of speculation and criticism that the event’s line up — both in terms of […]

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Who’s going (and who’s not) to the AI Safety Summit at Bletchley Park?

source https://techcrunch.com/2023/10/31/whos-going-and-whos-not-to-the-ai-safety-summit-at-bletchley-park/

Monday, October 30, 2023

Existential risk? Regulatory capture? AI for one and all? A look at what’s going on with AI in the UK

The promise and pitfall of artificial intelligence is a hot topic these days. Some say AI will save us: it’s already on the case to fix pernicious health problems, patch up digital divides in education, and do other good works. Others fret about the threats it poses in warfare, security, misinformation and more. It has […]

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Existential risk? Regulatory capture? AI for one and all? A look at what’s going on with AI in the UK

source https://techcrunch.com/2023/10/30/ai-safety-summit-uk/

Web Summit names ex-Wikimedia CEO, Katherine Maher, to take over in wake of Cosgrave controversy

Web Summit has named a new CEO: Katherine Maher — previously CEO and executive director of the Wikimedia Foundation (between 2019 and 2021). Maher is also chair of the board of the foundation behind the private messaging app, Signal; and holds various other board and fellowship positions — including on the Atlantic Council and the Truman […]

source https://techcrunch.com/2023/10/30/web-summit-ceo-katherine-maher/

Cruise hits the brakes on driverless, UAW makes progress and more EV backpedaling

The Station is a weekly newsletter dedicated to all things transportation. Sign up here — just click The Station — to receive the newsletter every weekend in your inbox. Subscribe for free. Welcome back to The Station, your central hub for all past, present and future means of moving people and packages from Point A to Point B. […]

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Cruise hits the brakes on driverless, UAW makes progress and more EV backpedaling

source https://techcrunch.com/2023/10/30/cruise-hits-the-brakes-on-driverless-uaw-makes-progress-and-more-ev-backpedaling/

Sunday, October 29, 2023

More than a year later, the $20B Adobe-Figma deal is still stuck in regulatory limbo

More than a year after Adobe announced it was acquiring Figma for $20 billion, the deal remains stuck in regulatory limbo.

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More than a year later, the $20B Adobe-Figma deal is still stuck in regulatory limbo

More than a year after Adobe announced it was acquiring Figma for $20 billion, the deal remains stuck in regulatory limbo.

source https://techcrunch.com/2023/10/29/adobe-figma-deal-regulatory-limbo/

A look at how one fintech CEO’s PR decision backfired

Welcome back to The Interchange, where we take a look at the hottest fintech news of the previous week. If you want to receive The Interchange directly in your inbox every Sunday, head here to sign up! Last week, we chronicled one CEO’s big PR flub, one firm’s new infusion of capital for early-stage fintech startups and […]

source https://techcrunch.com/2023/10/29/a-look-at-how-one-fintech-ceos-pr-decision-backfired/

A look at how one fintech CEO’s PR decision backfired

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Friday, October 27, 2023

Twitch’s CMO says competition from rival platforms is good for creators

Though attendees grumbled about Las Vegas as a city, the community sentiment at this year’s TwitchCon was notably more optimistic than it was at last year’s convention. TwitchCon 2023 closed out a tense year for the platform, which was punctuated by rounds of layoffs, unpopular policy decisions and the sting of competitors poaching major streamers […]

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Twitch’s CMO says competition from rival platforms is good for creators

source https://techcrunch.com/2023/10/27/twitchcon-rachel-delphin-twitch-simulcast-community-feedback-interview/

‘Stop the AV disaster’: Teamsters local and rideshare drivers join forces

Two of the biggest groups to oppose robotaxi expansion in California are now formally working together. Teamsters 856, which is tied to one of the longest-standing labor unions in the U.S., and Rideshare Drivers United (RDU), a group that advocates for app-based workers, said on Friday that they’ll work together to push for “responsible guardrails […]

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‘Stop the AV disaster’: Teamsters local and rideshare drivers join forces

source https://techcrunch.com/2023/10/27/stop-the-av-disaster-teamsters-and-rideshare-drivers-join-forces/

Thursday, October 26, 2023

Twitch’s money guy talks about the revenue split controversy and its monetization long game

Twitch has had a tense year, in part due to community backlash over policy changes that affect the way creators can monetize their content. Last year, the company announced that it would end the 70/30 subscription revenue split deal that it had offered select streamers in favor of prioritizing ad revenue. In June, Twitch launched […]

source https://techcrunch.com/2023/10/26/twitch-mike-minton-chief-monetization-officer-twitchcon-2023-partner-plus-revenue-split/

Sam Bankman-Fried takes the stand, but without jurors

The judge sent the jury home. He first wanted to review Sam Bankman-Fried's comments before determining whether that testimony could be shared with jurors.

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Sam Bankman-Fried takes the stand, but without jurors

The judge sent the jury home. He first wanted to review Sam Bankman-Fried's comments before determining whether that testimony could be shared with jurors.

source https://techcrunch.com/2023/10/26/sam-bankman-fried-takes-the-stand/

Wednesday, October 25, 2023

Carta’s CEO reaches out to customers about bad press, alerting them to bad press

In an attempt at damage control, the CEO of the equity management startup Carta, Henry Ward, today emailed customers, telling them that if they are concerned about “negative press” tied to the outfit, they should read a Medium post of his. The move appeared only to call more attention to the many reported problems plaguing […]

source https://techcrunch.com/2023/10/25/cartas-ceo-reaches-out-to-customers-about-bad-press-alerting-them-to-bad-press/

Kids on Roblox are hosting protests for Palestine

In the Lego-like world of Roblox, about a hundred blocky avatars march through a lamplit street, wielding Palestine flags that are larger than their own animated bodies. Characters dressed like cartoonish dinosaurs, steampunk zombies and pastel pink pop stars chant together via instant messages in both Malay and English as they arrive at a stage, […]

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Kids on Roblox are hosting protests for Palestine

source https://techcrunch.com/2023/10/25/roblox-palestine-protest/

Tuesday, October 24, 2023

Trevor Milton to reimburse Nikola $165M per arbitration proceeding

Electric and hydrogen-powered heavy truck maker Nikola was awarded $165 million from its founder and former executive chairman, Trevor Milton, in an arbitration proceeding. Nikola said in a filing with the Securities and Exchange Commission that an arbitration panel in New York awarded the funds to Nikola on October 20. The company had sought reimbursement […]

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Trevor Milton to reimburse Nikola $165M per arbitration proceeding

source https://techcrunch.com/2023/10/24/trevor-milton-to-reimburse-nikola-165m-per-arbitration-proceeding/

Monday, October 23, 2023

AI-based data center optimization startup MangoBoost raises $55M Series A

The central processing unit (CPU) and the graphics processing unit (GPU) handle different types of data. The CPU is used in almost all devices including computers, cellphones, tablets, smartwatches and TVs. It deals with processing general information on the device, making sure software is running correctly. While the GPU complements the CPU, it handles complex […]

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AI-based data center optimization startup MangoBoost raises $55M Series A

source https://techcrunch.com/2023/10/23/ai-based-data-center-optimization-startup-mangoboost-raises-55m-series-a/

Max Q: SpaceX, Blue Origin and Virgin Galactic speak on space regulations

In this issue: No new regulations on human spaceflight, news from Varda Space and more.

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Max Q: SpaceX, Blue Origin and Virgin Galactic speak on space regulations

In this issue: No new regulations on human spaceflight, news from Varda Space and more.

source https://techcrunch.com/2023/10/23/max-q-spacex-blue-origin-and-virgin-galactic-speak-on-space-regulations/

Sunday, October 22, 2023

Peak XV’s latest Surge batch is 77% AI and deeptech startups

AI and other deep technologies are the prevailing themes in the new early-stage cohort from Peak XV Partners, as the largest India and Southeast Asia-focused VC fund intensifies its search for opportunities in a sector garnering international frenzy. Ten out of 13 startups in the latest cohort of Surge, Peak XV’s powerfully influential early-stage program, […]

source https://techcrunch.com/2023/10/22/peak-xv-latest-surge-batch-is-77-ai-and-deeptech-startups/

Peak XV’s latest Surge batch is 77% AI and deeptech startups

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Rivian R1T is the first EV to win the longest off-road competition in the US

Motorsports and off-road competition isn’t the typical fodder over here at TechCrunch — unless, of course, there also happens to be a podium-winning team driving an all-electric 2023 Rivian R1T. The Rebelle Rally, the longest off-road map-and-compass rally in the United States, wrapped up Friday evening with a new EV milestone under its belt. This […]

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Rivian R1T is the first EV to win the longest off-road competition in the US

source https://techcrunch.com/2023/10/22/rivian-r1t-is-the-first-ev-to-win-the-longest-off-road-competition-in-the-us/

Federal hydrogen hub program could give fuel a boost — or the boot

The federal government's approach to hydrogen is strikingly similar to the way it promoted biofuels a decade ago. That's not a good thing.

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Federal hydrogen hub program could give fuel a boost — or the boot

The federal government's approach to hydrogen is strikingly similar to the way it promoted biofuels a decade ago. That's not a good thing.

source https://techcrunch.com/2023/10/22/federal-hydrogen-hub-program/

Is Plaid’s potential IPO a sign of fintech turning a corner?

Welcome back to The Interchange, where we take a look at the hottest fintech news of the previous week. If you want to receive The Interchange directly in your inbox every Sunday, head here to sign up! Unfortunately we can’t make it to Money20/20 next week. But we have no doubt that we’re going to […]

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Is Plaid’s potential IPO a sign of fintech turning a corner?

Welcome back to The Interchange, where we take a look at the hottest fintech news of the previous week. If you want to receive The Interchange directly in your inbox every Sunday, head here to sign up! Unfortunately we can’t make it to Money20/20 next week. But we have no doubt that we’re going to […]

source https://techcrunch.com/2023/10/22/is-plaids-potential-ipo-a-sign-of-fintech-turning-a-corner/

Saturday, October 21, 2023

Deal Dive: Tucker Carlson is a media startup founder — again

Tucker Carlson has raised $15 million for a new subscription-based entity. But he'll need more than name recognition for it to succeed.

source https://techcrunch.com/2023/10/21/tucker-carlson-last-country-media-startup/

This week in AI: Can we trust DeepMind to be ethical?

Keeping up with an industry as fast-moving as AI is a tall order. So until an AI can do it for you, here’s a handy roundup of recent stories in the world of machine learning, along with notable research and experiments we didn’t cover on their own. This week in AI, DeepMind, the Google-owned AI R&D lab, […]

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This week in AI: Can we trust DeepMind to be ethical?

source https://techcrunch.com/2023/10/21/this-week-in-ai-can-we-trust-deepmind-to-be-ethical/

Friday, October 20, 2023

Okta says hackers stole customer access tokens from support unit

Identity and access giant Okta said a hacker broke into its customer support ticket system and stole sensitive files that can be used to break into the networks of Okta’s customers. Okta chief security officer David Bradbury said in a blog post Friday that a hacker used a stolen credential to access the company’s support […]

source https://techcrunch.com/2023/10/20/okta-says-hackers-stole-customer-access-tokens-from-support-unit/

Thursday, October 19, 2023

Meta has a moderation bias problem, not just a ‘bug,’ that’s suppressing Palestinian voices

Earlier this year, Palestinian-American filmmaker Khitam Jabr posted a handful of Reels about her family’s trip to the West Bank. In the short travel vlogs, Jabr shared snippets of Palestinian culture, from eating decadent meals to dancing at her niece’s wedding. “I hadn’t been in a decade, so it’s just like, life abroad,” Jabr told […]

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Meta has a moderation bias problem, not just a ‘bug,’ that’s suppressing Palestinian voices

source https://techcrunch.com/2023/10/19/meta-instagram-palestine-israel-shadowban-censorship-moderation-bias/

Varda Space will land its next capsule in Australia as it continues to coordinate first mission reentry

In-space manufacturing startup Varda Space Industries will be landing its next spacecraft in Australia as it continues working with U.S. regulators to get its first mission approved for reentry in Utah, the company announced Thursday. The U.S. Air Force and the U.S. Federal Aviation Administration rejected Varda’s application to land its first in-space manufacturing spacecraft […]

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Varda Space will land its next capsule in Australia as it continues to coordinate first mission reentry

source https://techcrunch.com/2023/10/19/varda-space-will-land-its-next-capsule-in-australia-as-it-continues-to-coordinate-first-mission-reentry/

Wednesday, October 18, 2023

Made Renovation, which intrigued, then infuriated, its customers, is shutting down

In August, we reported that a four-year-old, venture-backed remodeling startup called Made Renovation was failing its customers, by their own telling. Though it marketing itself as a one-stop shop to beautify bathrooms — it offered potential customers a variety of templates, then promised to pair them with in-house project managers, help with required permits, assign […]

source https://techcrunch.com/2023/10/18/made-renovation-which-intrigued-then-infuriated-its-customers-is-shutting-down/

Sequoia faces Congressional scrutiny over investments in China

One of Silicon Valley’s most prominent investment firms will face government scrutiny over its investments in China. Sequoia Capital has received a polite but pointed request from Congress to enter into more detail on how it will prevent further U.S. investment dollars from advancing Chinese interests. Sequoia announced in June that it would be splitting […]

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Tesla Cybertruck deliveries set for Nov 30

Tesla has finally set a date for the first deliveries of the Cybertruck. CEO Elon Musk posted on social media Wednesday that the Cybertruck delivery event, which traditionally means a few select customers get to take possession of their vehicles, will be held November 30 at company’s Austin gigafactory. The news of the delivery event […]

source https://techcrunch.com/2023/10/18/tesla-cybertruck-deliveries-set-for-nov-30/

Tuesday, October 17, 2023

Israel looks to roll out SpaceX Starlink internet amid war with Hamas

Israel is in discussions with SpaceX to rollout Starlink internet services, especially for communities near the conflict zone, an Israeli official said Tuesday. Starlink currently isn’t available in Israel, so this would be the first time the service is introduced in any capacity. As it seeks to bolster its own communications during wartime, it is […]

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The UAW strike is starting to affect CES 2024

Stellantis announced Tuesday that it will cancel its planned presentations and display at CES 2024, the tech trade show that takes over Las Vegas every January. The reason? The automaker, which owns a slew of U.S. brands including Jeep, Ram and Chrsyler, cited the cost of the ongoing United Autoworker strike, which has entered its […]

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Israel looks to roll out SpaceX Starlink internet amid war with Hamas

source https://techcrunch.com/2023/10/17/israel-looks-to-roll-out-spacex-starlink-internet-amid-war-with-hamas/

The UAW strike is starting to affect CES 2024

source https://techcrunch.com/2023/10/17/stellantis-cancels-ces-uaw-strike/

Monday, October 16, 2023

Max Q: Psyche(d)

In this issue: SpaceX launches NASA asteroid mission, news from Relativity Space and more.

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Google lobbies against legally mandated age verification for minors

Google is challenging proposed laws that would require online services to implement age checks in a new framework that theorizes how technology companies should approach children’s safety online. The framework, titled the “Legislative Framework to Protect Children and Teens Online,” is the tech giant’s response to congressional child online safety proposals. In its set of principles, […]

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Google lobbies against legally mandated age verification for minors

source https://techcrunch.com/2023/10/16/google-lobbies-against-legally-mandated-age-verification-for-minors/

Sunday, October 15, 2023

Asia emerges as a promising haven amid the crypto winter

Walking through Token2049, it was hard to tell that the crypto industry was going through a “winter” phase. The crypto conference held in Singapore in September attracted an unprecedented crowd of 20,000 attendees, filling the island state with an even greater number of blockchain enthusiasts who hopped in and out of the hundreds of side […]

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Asia emerges as a promising haven amid the crypto winter

source https://techcrunch.com/2023/10/15/asia-crypto-winter/

London’s not calling for Par Equity, as VC firm targets £100M at UK startups in the north

Any conversation centered on the U.K. tech scene often has a strong center of gravity around the south of the country — to many, “the U.K.” and “London” may as well be the same thing. A recent House of Commons Committee report on venture capital allocation pointed to “uneven levels of VC investment” across the […]

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London’s not calling for Par Equity, as VC firm targets £100M at UK startups in the north

source https://techcrunch.com/2023/10/15/londons-not-calling-for-par-equity-as-vc-firm-targets-100m-at-uk-startups-in-the-north/

How founders can cut through the noise and find events that are actually worth it

Founders get bombarded with invitations to events, and not all of them are worth it, but there are ways to figure out which will provide value.

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Braid shuts down, Stash marches toward an IPO and what happens when a fintech relationship fizzles out

Welcome back to The Interchange, where we take a look at the hottest fintech news of the previous week. If you want to receive The Interchange directly in your inbox every Sunday, head here to sign up! We covered lots of happenings in the world of fintech this past week — including raises, a startup closure, […]

source https://techcrunch.com/2023/10/15/braid-closes-down-stash-marches-towards-an-ipo-and-what-happens-when-a-fintech-relationship-fizzles-out/

Braid shuts down, Stash marches toward an IPO and what happens when a fintech relationship fizzles out

Welcome back to The Interchange, where we take a look at the hottest fintech news of the previous week. If you want to receive The Interchange directly in your inbox every Sunday, head here to sign up! We covered lots of happenings in the world of fintech this past week — including raises, a startup closure, […]

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Saturday, October 14, 2023

Palestine’s growing tech industry has been literally blown apart by the war between Israel and Hamas

Gaza, despite being one of the most economically challenged regions in the world, has ironically always been a tech hub — not only for Palestine and Palestinians, but for the world: international companies have, for many years, sought out a presence there to collaborate both with with talented tech freelancers, and the startups which gradually […]

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Palestine’s growing tech industry has been literally blown apart by the war between Israel and Hamas

source https://techcrunch.com/2023/10/14/palestine-tech-industry-hamas-israel-war/

Friday, October 13, 2023

Devialet’s Gemini II are the most luxurious wireless earbuds you can get

Devialet isn’t like any other tech company — its products are at the intersection of audio engineering and luxury. That’s why its new wireless earbuds with active noise cancellation don’t look like other earbuds. This isn’t a mass market product. When I covered the product launch at the Paris Opera, the French company’s CEO Franck […]

source https://techcrunch.com/2023/10/13/devialets-gemini-ii-are-the-most-luxurious-wireless-earbuds-you-can-get/

Devialet’s Gemini II are the most luxurious wireless earbuds you can get

Thursday, October 12, 2023

Microsoft’s $68.7B Activision acquisition clears final hurdle as UK approves restructured deal

It has been a long time coming, but Microsoft’s near-two year attempt to buy gaming giant Activision is finally happening, after the U.K.’s Competition and Markets Authority (CMA) accepted a restructured proposal that addresses the CMA’s concerns about Microsoft dominating the cloud gaming market. The crux of Microsoft’s concession to get the deal over the […]

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Microsoft’s $68.7B Activision acquisition clears final hurdle as UK approves restructured deal

It has been a long time coming, but Microsoft’s near-two year attempt to buy gaming giant Activision is finally happening, after the U.K.’s Competition and Markets Authority (CMA) accepted a restructured proposal that addresses the CMA’s concerns about Microsoft dominating the cloud gaming market. Microsoft announced its plans to buy Activision in a gargantuan $68.7 […]

source https://techcrunch.com/2023/10/12/microsofts-68-7b-activision-acquisition-clears-final-hurdle-as-uk-approves-restructured-deal/

After warning, the EU opens investigation into X over alleged disinformation

The European Union announced today it is opening an investigation into X for allegedly spreading illegal content and disinformation, including terrorist and violent content and hate speech. This comes a few days after the EU warned X for failing to take action on illegal content on its platform after Saturday’s deadly attacks on Israel by […]

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After warning, the EU opens investigation into X over alleged disinformation

Linda Yaccarino responds to EU: 700 Community Notes, 5K+ images shared on Israel-Hamas war, “thousands” of pieces of content removed

X, the social platform formerly known as Twitter, came under fire earlier this week in Europe, when European Commissioner Thierry Breton sent a stark open letter to the company warning it of its failure to clamp down on disinformation and illegal content on the platform circulating in the aftermath of the deadly Hamas terrorist attack […]

source https://techcrunch.com/2023/10/12/x-yaccarino-breton-israel-hamas-warning/

Wednesday, October 11, 2023

Bon Vivant toasts taking $15.9M to brew up versatile animal-free dairy proteins

Lyon, France-based precision fermentation startup Bon Vivant, which is using biotech techniques to reprogram yeast microorganisms to produce animal-free milk proteins with a substantially lower environmental footprint than traditional dairy, credits clarity of strategy and execution for keeping its investors enthused at a time when raising remains a challenge for many tech founders. All the […]

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Bon Vivant toasts taking $15.9M to brew up versatile animal-free dairy proteins

10 Minute School aims to democratize education for Bangladeshi students

Access to education in Bangladesh is filled with inequalities, say the founders of edtech 10 Minute School. Many rural areas don’t have good learning centers and as a result, students travel to capital Dhaka to prepare for their university admission exams. That option, however, is only available to families who have the financial means. Originally […]

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10 Minute School aims to democratize education for Bangladeshi students

Twitch adds anti-harassment features to stop banned users from watching streams

Twitch streamers can finally block banned users from watching their streams, thanks to a recent update to the platform’s anti-harassment features. Twitch first announced the feature in August. Though tools to prevent banned users from participating in a stream’s chat have existed for years, streamers could do little from preventing banned users from actually watching […]

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Twitch adds anti-harassment features to stop banned users from watching streams

Tuesday, October 10, 2023

EU fires urgent warning at Elon Musk’s X over illegal content and disinformation following Hamas attacks

In a very swift test of the European Union’s newly updated content moderation rulebook, the bloc has fired a public warning at Elon Musk-owned X (formerly Twitter) for failing to tackle illegal content circulating on the platform in the wake of Saturday’s deadly attacks on Israel by Hamas terrorists based in the Gaza Strip. The […]

source https://techcrunch.com/2023/10/10/eu-dsa-warning-elon-musk-x/

What drove online used car marketplace Shift to file for bankruptcy

Shift Technologies, the San Francisco-based online used car startup-turned-publicly traded company, filed this week for Chapter 11 bankruptcy. The short story, according to recent filings, is that the company’s deteriorating cash position and inability to obtain further financing drove the company to file for bankruptcy and begin the process of closing down the business and […]

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SumUp’s valuation falls as low as $4.1B, as Groupon and others sell off their stakes

Adyen lost $13 billion in market cap last month when investors scrambled to sell shares after the payments company missed quarterly revenue targets. But it’s not the only one facing the music in fintech. Shares in SumUp, a privately-held European payment technology business that focuses on point-of-sale transactions, are currently are being sold in inside […]

source https://techcrunch.com/2023/10/10/sumup-groupon-valuation/

Hackers advertised 23andMe stolen data two months ago

Genetic testing company 23andMe has been investigating a security incident after hackers advertised a trove of alleged stolen user data on a hacking forum last week. But the alleged stolen data may have been circulating for much longer than first known. TechCrunch has also found that some of the advertised stolen data matches known 23andMe […]

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Hackers advertised 23andMe stolen data two months ago

Monday, October 9, 2023

Indian banks attract VC and startup interest

Several Indian startups, along with venture capital funds and private equity investors, are scrambling to build investment strategies as they race to tap into a rare available opportunity in the nation: banks. Premji Invest, Multiples, Zerodha, Gaja Capital and MobiKwik are among those who are evaluating an investment in Nainital Bank, a subsidiary of Bank […]

source https://techcrunch.com/2023/10/09/indian-banks-attract-vc-and-startup-interest/

Consumer payments startup Braid, backed by Index and Accel, shuts down

Braid, a four-year-old startup that aimed to make shared wallets more mainstream among consumers, has shut down. Founded in January 2019 by Amanda Peyton and Todd Berman (who left in 2020), San Francisco-based Braid set out to offer friends and family an FDIC-insured, multi-user account that was designed to make it easy “to pool, manage […]

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Consumer payments startup Braid, backed by Index and Accel, shuts down

Max Q: Castelion comes out of stealth

In this issue: Meet Castelion, news from Amazon and more.

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As SBF’s trial heads into its second week, here’s what we know so far

Here are the juicy details we gleaned from the first week of testimonies.

source https://techcrunch.com/2023/10/09/sbf-trial-details-week-1/

Sunday, October 8, 2023

To attend or not to attend: We asked 52 founders whether events are useful or a waste of time

There are many founder-focused events but are they actually helpful or just a distraction? Founders need to strike a balance.

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Zendesk emerges from last year’s turbulence with strong outlook

After some recent turbulence, it would be easy to think that Zendesk's overall financial performance suffered as a result, but that really wasn’t the case.

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Zendesk emerges from last year’s turbulence with strong outlook

After some recent turbulence, it would be easy to think that Zendesk's overall financial performance suffered as a result, but that really wasn’t the case.

source https://techcrunch.com/2023/10/08/zendesk-strong-outlook/

Prosus-backed fast-fashion startup Virgio, valued at $161 million, to shut down

Fast-fashion startup Virgio, founded by former Myntra chief, is shutting down its operations less than a year after raising funds at a valuation of over $160 million, according to two investor sources familiar with the situation. “The fast fashion brand that you have come to love is no longer available,” Virgio says on its website. […]

source https://techcrunch.com/2023/10/08/prosus-backed-fast-fashion-startup-virgio-valued-at-161-million-shuts-down/

Women and underrepresented founders aren’t going to wait for the VC industry to transform itself

You will only have one shot to impress your future financial backers — make sure you are confident and ready.

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Women and underrepresented founders aren’t going to wait for the VC industry to transform itself

You will only have one shot to impress your future financial backers — make sure you are confident and ready.

source https://techcrunch.com/2023/10/08/how-women-and-underrepresented-founders-can-overcome-investor-bias-and-shift-the-funding-landscape-in-their-favor/

Saturday, October 7, 2023

How NVIDIA became a major player in robotics

[A version of this post appeared in TechCrunch’s robotics newsletter, Actuator. Subscribe here.] The last time I’d spoken with the NVIDIA at any length about robotics was also the last time we featured Claire Delaunay on stage at our Sessions event. That was a while ago. She left the company last July to work with […]

source https://techcrunch.com/2023/10/07/how-nvidia-became-a-major-player-in-robotics/

Friday, October 6, 2023

Brave lays off 9% of its workforce

Brave Software, the maker of Brave Browser and Search, confirmed that it has laid off 9% of its staff across departments. The company didn’t specify how many people were affected, but it corroborated the development and said the decision was driven by the tough economic climate. “Brave eliminated some positions as part of our cost […]

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Brave lays off 9% of its workforce

Artists across industries are strategizing together around AI concerns

As creative industries grapple with AI’s explosion into every artistic medium at once, separate calls from artists warning the world to take action before it’s too late are starting to converge. From fake Drake songs to stylized Instagram profile pictures, art conjured with newly sophisticated AI tools is suddenly ubiquitous — and so are conversations […]

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Artists across industries are strategizing together around AI concerns

EV buyers can soon get the $7,500 tax credit at time of purchase

Starting in January, the IRS will make the $7,500 federal EV tax credit available immediately via dealers. The Treasury Department announced the update on Friday, noting that dealers will have the option to “reduce the purchase price of the vehicle or provide cash to the buyer.” The update also applies to buyers taking advantage of […]

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EV buyers can soon get the $7,500 tax credit at time of purchase

Thursday, October 5, 2023

Netflix’s 6.5M India subscribers dwarfed by Prime Video and Disney, Bernstein says

Netflix has “not succeeded” in scaling up its business in India despite the global streaming giant consistently lowering the subscription costs in the country, analysts at AllianceBernstein wrote in a report to clients Thursday. The U.S. streamer has about 6.5 million subscribers in India, compared to Prime Video’s 20 million in the South Asian market, […]

source https://techcrunch.com/2023/10/05/netflix-india-subscribers/

Netflix’s 6.5M India subscribers dwarfed by Prime Video and Disney, Bernstein says

‘Marked to zero’: Paradigm testimony at SBF trial points to investor fraud

The testimony of Matt Huang, co-founder and managing partner of crypto investment firm Paradigm, at Sam Bankman-Fried’s trial may help the prosecution convince jurors that the former crypto mogul defrauded investors. Huang testified Thursday that he and his firm were in the dark about a range of business practices at FTX, red flags that would […]

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‘Marked to zero’: Paradigm testimony at SBF trial points to investor fraud

All eyes on VW after Hyundai, Kia adopt Tesla charging standard

Hyundai and Kia have finally announced their plans to adopt Tesla’s North American Charging Standard (NACS) ports for their electric vehicles in the U.S. and Canada, joining the swells of automakers that have also promised to do so. The move will give Hyundai and Kia drivers — as well as drivers of Ford, General Motors, […]

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a16z-backed Castelion wants to mass produce defense hardware, starting with hypersonics

One builds weapons in hopes that they are not used. Thus goes the central premise of deterrence theory, which says it is the credible threat of aggression — not the use of aggression — that will ensure states avoid war. This theory has dominated much of America’s strategic thinking over the past 50-plus years, but […]

source https://techcrunch.com/2023/10/05/a16z-backed-castelion-wants-to-mass-produce-defense-hardware-starting-with-hypersonics/

a16z-backed Castelion wants to mass produce defense hardware, starting with hypersonics

One builds weapons in order that they are not used. Thus goes the central premise of deterrence theory, which says it is the credible threat of aggression – not the use of aggression – that will ensure states avoid war. This theory has dominated much of America’s strategic thinking over the past fifty-plus years, but […]

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Alameda had a $65B line of credit and ‘unlimited withdrawals’

Alameda's "unlimited funds" came from FTX customers, the crytpo exchange's co-founder says on the stand.

source https://techcrunch.com/2023/10/05/sbf-trial-gary-wang/

Wednesday, October 4, 2023

Was FTX an empire ‘built on lies’ or a startup that ‘grew too quickly’?

The criminal trial of former cryptocurrency magnate Sam Bankman-Fried completed its second day on Wednesday. The prosecution and defense both gave opening statements, and interviewed the first two witnesses, including a customer of FTX and Bankman-Fried’s former friend and ex-Alameda and FTX employee Adam Yedidia. The prosecution painted Bankman-Fried as someone who knowingly committed fraud […]

source https://techcrunch.com/2023/10/04/sbf-criminal-trial-opening-statements/

Meet the 12 jurors on Sam Bankman-Fried’s trial

The second day for Sam Bankman-Fried’s trial was filled with jury selection, opening statements and testimonies from the first two witnesses, with a peek into what may be in store. His lawyers arrived at the court room 10 minutes before clock-in time, around 9:20 am. Bankman-Fried followed shortly after. Although he was once known for […]

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Meet the 12 jurors on Sam Bankman-Fried’s trial

Tiny EV maker ElectraMeccanica pulls the plug on its exit plan

ElectraMeccanica, former maker of three-wheeled electric vehicles, said on Wednesday that it has “terminated” its plan to merge with Tevva, which makes hydrogen-electric trucks (not sandals). ElectraMeccanica said its board decided unanimously to bin the deal over “multiple incurable breaches of the agreement by Tevva.” The alleged breaches include “failures by Tevva” to share “material […]

source https://techcrunch.com/2023/10/04/ev-electrameccanica-terminates-tevva-truck-merger/

Bird lays off staff after Spin acquisition to reduce redundancies

Bird, the shared micromobility company that was delisted from the New York Stock Exchange last week, is issuing another round of layoffs, according to an email interim CEO Michael Washinushi sent to the company. TechCrunch has viewed the email. TechCrunch has been unable to confirm the number of people affected by the layoffs. Bird has […]

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Bird lays off staff after Spin acquisition to reduce redundancies

Tuesday, October 3, 2023

Indian fintech unicorn Slice secures rare approval to merge with bank

Indian unicorn fintech Slice is merging with North East Small Finance Bank, they said Wednesday after receiving the approval from the central bank, in an extremely rare feat that has eluded many tech giants, top financial startups and tycoons for decades. Slice – which earlier offered credit card like cards and at peak issued over […]

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Krafton India launches gaming incubator to expand local ecosystem

Krafton India has launched a gaming incubator in the South Asian nation as it seeks to expand the local ecosystem and support the domestic talent looking to enter the fast-growing gaming market. Called Krafton India Gaming Incubator (KIGI), the program aims to support six to 10 teams annually, with the total duration ranging from six […]

source https://techcrunch.com/2023/10/03/krafton-india-gaming-incubator/

Krafton India launches gaming incubator to expand local ecosystem

Electric Hydrogen is the green hydrogen industry’s first unicorn

Investors have historically been skeptical of green hydrogen. High production costs, expensive infrastructure builds, competition with batteries and minimal government support have made the green hydrogen sector a risky bet. But at least one company, Electric Hydrogen, seems to have found a way to convince investors that its tech is a bet they should take. […]

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Electric Hydrogen is the green hydrogen industry’s first unicorn

Spotify to include a selection of 150K audiobooks with its Premium subscription

Spotify today unveiled what’s next for the future of its audiobooks service. At an event hosted in its New York offices on Tuesday afternoon, the company announced a new business model where it will now provide Spotify Premium subscribers with access to a subset of its audiobooks catalog — a total of 150,000 titles — […]

source https://techcrunch.com/2023/10/03/spotify-to-include-a-selection-of-audiobooks-with-its-premium-subscription/

Monday, October 2, 2023

Elon Musk is being sued for defamation after falsely claiming a man was a neo-Nazi on X

Elon Musk has been on something of a suing spree lately, but on Monday Twitter’s new owner was hit with a fresh inbound lawsuit. The lawsuit alleges that Musk defamed a California man after the owner of X (formerly Twitter) claimed that the recent college graduate was a federal agent operating undercover with a neo-Nazi […]

source https://techcrunch.com/2023/10/02/elon-musk-is-being-sued-for-defamation-after-falsely-claiming-a-man-was-a-neo-nazi-on-x/

Tesla Autopilot arbitration win could set legal benchmark in auto industry

In a victory for Tesla, a California federal judge ruled over the weekend that a group of Tesla owners cannot pursue in court claims that the company falsely advertised its automated features. Instead, they will have to face individual arbitration. U.S. District Judge Haywood Gilliam’s ruling isn’t a win for the defensibility of Tesla’s advanced […]

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Tesla Autopilot arbitration win could set legal benchmark in auto industry

Republicans still don’t know how to talk to young voters online

In an appeal to younger voters, Republican presidential candidate Vivek Ramaswamy — who proposed raising the voting age to 25 — launched his TikTok presence with an endorsement from Jake Paul, the YouTuber turned boxer who built a content empire by marketing to children. Ramaswamy is one of the only Republican politicians making an effort […]

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Max Q: Mining moon water

In this issue: Mining water on the moon with Starpath Robotics, news from Blue Origin, SpaceX and more.

source https://techcrunch.com/2023/10/02/max-q-mining-moon-water/

Republicans still don’t know how to talk to young voters online

Ousted Flexport CEO Dave Clark strikes back

Dave Clark, the former Amazon executive who was ousted as CEO of Flexport just a year into the job, fired back at its founder and board, calling recent reporting on the logistics company “deeply concerning.” Clark made the comments Monday in a lengthy post on social media site X following a report from CNBC that […]

source https://techcrunch.com/2023/10/02/ousted-flexport-ceo-dave-clark-strikes-back/

Alpaca VC unveils two new investment vehicles, including its real estate roots

The multi-stage venture capital firm uses a research-driven approach and invests at the intersection of the physical and digital worlds.

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India’s national logistics portal exposed sensitive personal data, trade records

India’s state-owned logistics portal has fixed misconfigurations and vulnerabilities that exposed sensitive personal data and various state and private trade records. Called the National Logistics Portal-Marine, the website made the sensitive and private data public due to misconfigured Amazon S3 buckets. It also carried a JavaScript file that included login credentials into the web source […]

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Sunday, October 1, 2023

Procurement is painful, so Pivot wants to simplify it

Earlier this year, a big French tech company started requiring an email to the CEO for every purchase above €1,000. That’s because they didn’t have the right tool to manage procurement. Meet Pivot, a new French startup that wants to overhaul spend management solutions. Pivot wants to work with young companies that are growing fast […]

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Procurement is painful, so Pivot wants to simplify it

How to raise a Series A in today’s market

Three investors shared their perspectives on what’s changed, what’s working today, and what advice they’re giving founders at this year’s TechCrunch Disrupt.

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How to raise a Series A in today’s market

Three investors shared their perspectives on what’s changed, what’s working today, and what advice they’re giving founders at this year’s TechCrunch Disrupt.

source https://techcrunch.com/2023/10/01/raising-series-a-funding/

A tale of two research institutes

If you’re lucky, once a year you get to put together a panel built on pure kismet. Pairing Gill Pratt with Marc Raibert was exactly that for me. The two go back several decades, to the salad days of MIT’s Leg Lab. [A version of this story original appeared in TechCrunch’s robotics newsletter, Actuator. Subscribe […]

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