Microsoft’s new and improved Bing, powered by a custom version of OpenAI’s ChatGPT, has experienced a dizzyingly quick reversal: from “next big thing” to “brand-sinking albatross” in under a week. And, well, it’s all Microsoft’s fault. ChatGPT is a really interesting demonstration of a new and unfamiliar technology that’s also fun to use. So it’s not surprising that, like every other AI-adjacent … [Read more...]
Daily Crunch: Generative AI search engine startup You.com adds multimodal chat
To get a roundup of TechCrunch’s biggest and most important stories delivered to your inbox every day at 3 p.m. PST, subscribe here. Hello, and welcome to Hump Day! We’ve got a ton of amazing stories for you. Some are even about You. Have you always wanted to be more conscious about where you shop but struggle to figure out how? The Fifteen Percent Pledge is a racial equity and economic justice … [Read more...]
When fundraising, anchor your company with the ‘why now?’ slide
Prove to investors why this is the right time and you're the right company Haje Jan Kamps 8 hours When talking to investors, you’re answering the what (product), why (mission), where (if relevant) and how (strategy and go-to-market). But founders often ignore another important question: Why now? Why wouldn’t it have been possible to have … [Read more...]
Roku soars past revenue expectations as it bets on streaming devices to boost growth
Over a month after Roku announced its first Roku-branded TVs, which will launch in the U.S. in spring 2023, the hardware company reported its quarterly earnings this afternoon, which showed Roku beat its own revenue expectations, reporting a total net revenue of $867.1 million for Q4. The company previously cautioned investors of a shaky fourth quarter, predicting total revenue at around $800 … [Read more...]
Is the ‘exodus’ over? Here’s how Twitter alternatives have fared since Elon Musk’s acquisition
Was there a Twitter exodus or just a Twitter pause? Did it even matter? New data takes a look at how a range of “Twitter alternatives” have fared in the months following Elon Musk’s acquisition of the popular microblogging network, now that the burst of new installs driven by his takeover has tapered off. The data indicates that many apps continue to grow to a lesser degree while other apps have … [Read more...]
Silicon Valley goes to war
At Andreessen Horowitz’s recent American Dynamism summit, Hadrian founder and CEO Chris Power painted a picture of the country in peril. “I’m here to talk to you about an existential risk to the future of the Republic and how Hadrian is trying to solve it,” he began. His words – a mix of rationalism and Marcus Aurelius – were not out of place at the event, which brought together a blend of … [Read more...]
Apkudo, a platform for managing connected devices, raises $37.5M
Apkudo, a Baltimore-based startup developing a platform to help manage, sell and test connected devices like smartphones and laptops, today announced that it raised $37.5 million in a Series C funding round co-led by Closed Loop Partners’ Leadership Fund and Piper Sandler Merchant Banking with participation from MissionOG, Harbert Growth, Grotech Ventures, Lavrock Ventures and Point Field … [Read more...]
Dear Sophie: Do I qualify for an E-1 trader visa?
Sophie Alcorn Contributor Sophie Alcorn is the founder of Alcorn Immigration Law in Silicon Valley and 2019 Global Law Experts Awards’ “Law Firm of the Year in California for Entrepreneur Immigration Services.” She connects people with the businesses and opportunities that expand their lives. More posts by this contributor Dear Sophie: Will published … [Read more...]
a16z, GV back Thatch in its effort to simplify health benefits for startups and their employees
When you’re dealing with health issues, worrying about how you’re going to pay for care can be a major additional stressor. This can be compounded when you’re facing major illnesses, such as receiving treatment for cancer or having surgery. Chris Ellis and Adam Stevenson had the unfortunate experiences of losing parents to cancer at a young age. During those emotionally painful times, they also … [Read more...]
Intuitive Machines’ post-SPAC war chest depleted by shareholder redemptions
Lunar technology company Intuitive Machines received far less cash from its merger with a special purpose acquisition company (SPAC) than it forecasted, according to filings with the U.S. Securities and Exchange Commission made last night. Although Intuitive Machines said the SPAC trust could furnish the company with as much as $301 million in dry powder, shareholders opted to redeem a staggering … [Read more...]
Funga wants to accelerate carbon capture using belowground fungal biodiversity
Funga claims to be the first company to leverage nature’s power of carbon removal, by focusing on restoring belowground fungal biodiversity. The company just raised a $4 million round. The company was founded by ecologist and climate scientist Dr. Colin Averill, and it combines modern DNA sequencing and machine learning technology with breakthrough research on the forest microbiome. This approach … [Read more...]
In a boost for the ‘metaverse,’ Roblox stock pops 25% after strong Q4 earnings
It looks like the metaverse is doing okay. No, not the one Meta is trying to make happen in VR — the gaming platform Roblox is where the kids are still spending their money, apparently. After reporting its fourth-quarter results on Wednesday, Roblox shares popped 25%, as investors reacted to the company’s better-than-expected earnings. Made popular through games like MeepCity, Jailbreak, … [Read more...]
Instacart’s new features give shoppers more ways to earn on their own schedules
Instacart is introducing two new features that are designed to give shoppers on its platform more opportunities to earn. The company is launching “queued batches,” which gives shoppers the option to accept another batch before completing the batch they are currently shopping. Once shoppers complete the delivery of their current batch, they can begin shopping their next batch. Instacart says the … [Read more...]
Free Agency CEO seems to care more about control than the company, former employees say
According to former employees of human resources startup Free Agency, CEO Sherveen Mashayekhi’s leadership style is holding the startup back as he seems to care more about demanding loyalty and controlling his employees than building a company. The New York-based startup launched in 2019 with the novel idea of bringing the talent agency model popular in Hollywood and sports to other professions. … [Read more...]
Ransomware gang uses new zero-day to steal data on 1 million patients
A prolific ransomware operation is back with old tricks — and new victims. Community Health Systems (CHS), one of the largest healthcare providers in the United States with close to 80 hospitals in 16 states, confirmed this week that criminal hackers accessed the personal and protected health information of up to one million patients. The Tennessee-based healthcare giant said in a filing with … [Read more...]
Tesla agrees to double supercharger network, open to all EVs under Biden’s $7.5B charging plan
Companies hoping to dip into the coffers of the Biden Administration’s $7.5 billion EV charging initiative will have to meet a new set of requirements that even Tesla has agreed to. The Biden Administration laid out Wednesday the final standards for its plan to build a national network of 500,000 electric vehicle chargers along highways, including a requirement that all EV chargers funded through … [Read more...]
Snap introduces ray tracing technology for its AR lenses to enhance realism
Snap has introduced ray tracing technology to its AR Lens Studio for developers around the world, the company announced on Wednesday. Ray tracing is a technical capability that allows for realistic renderings of light and shine on AR artifacts. Snap has partnered with Tiffany & Co to launch the first Lens built with ray tracing. The Lens lets users try-on Tiffany Lock bracelets using AR and … [Read more...]
Axion Ray brings intelligence to manufacturing to find issues before they cause trouble
Manufacturers face a dizzying array of potential problems around the machines they produce, and it’s challenging to track down issues. This isn’t just nice to know. It’s crucial information, often tracked manually today by human auditors in spreadsheets. In some cases, failing to understand when there is a faulty part could result in costly recalls, and in the most extreme cases, deaths and … [Read more...]
Superplastic, a creator of ‘synthetic’ influencers, raises $20M led by Amazon in deal to make TV shows and more
Janky and Guggimon, ‘synthetic’ celebrities conceived in a studio and big on social platforms like TikTok and Instagram, where they exist as influencers with millions of followers, hyping up other brands, music acts and themselves, are soon coming to a streaming screen, and maybe a Whole Foods, near you. Superplastic, the startup that created and develops the characters, has raised $20 million led … [Read more...]
Caretakers, ageism and other topics venture needs to stop overlooking
Hello, and welcome back to Equity, a podcast about the business of startups, where we unpack the numbers and nuance behind the headlines. This is our Wednesday show, where we niche down to a single person, think about their work and unpack the rest. This week, Natasha interviewed Elana Berkowitz, founding partner at Springbank Collective and an early-stage investor working to close the gender … [Read more...]
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