TechCrunch Master Template TechCrunch Newsletter
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| Happy Friday, Crunchers! Itâs 27 May 2022, and we are slinking into a long weekend because itâs Memorial Day weekend here in the U.S. Thereâs no newsletter on Monday â Haje is going ð· wine tasting in Sonoma, and Christine is planning to spend Monday ðï¸ sitting on the sofa doing absolutely nothing, which we celebrate wholeheartedly. Weâll see you back here on Tuesday! Not sure what to do this weekend? Check out this roundup of all the amazing podcasts we published this week. Itâll keep you busy for a few hours at least. â Haje and Christine |
| | Image Credits: Bungie |
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The TechCrunch Top 3 Golden goose: Manish was on fire today, writing not one, but two of our top stories of the day. The first is about Jar, an Indian fintech company that is looking at a $50 million Series B round. The countryâs citizens have bank accounts to save money, but Jar helps them do something they may not be as familiar with â invest. And the company has chosen to start with something Indians are known to love, gold. Revolving door: Manishâs second story has to do with another Manish â Manish Maheshwari, the former head of Twitter India, who left a startup he co-founded after just 6 months. Our Manish reported in December that Maheshwari left his post at Twitter to start edtech company Invact Metaversity with Tanay Pratap. The arrangement didnât seem to work out as planned, with some company hiccups involving getting product out the door and some leadership disagreements. Sometimes itâs not meant to be: In Substackâs case, a fresh round of capital. Connie went over the details yesterday of them attempting to raise a Series C, but then calling it off when favorable terms with investors didnât transpire. Today, Alex peels away some of the onion layers to explain why Substackâs goals, based on its Series B raise in 2021, didnât translate well in 2022âs investment environment. |
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| Diesel prices alone are driving about 17% of the inflation weâre seeing today, and Tim writes a rousing piece about how gasoline and diesel are perhaps not the greatest, especially given that the economy is peeking over the cliff into an abyss whose depth equals our general optimism around climate at the moment. Perhaps thatâs exactly whatâs needed: Maybe when economic and climate interests align, we find the pot of “yay we can live on this planet for a few more years” at the end of the rainbow. (TechCrunch+ is our membership program, which helps founders and startup teams get ahead. You can sign up here.) Read More |
| | Image Credits: Bloomberg Creative / Getty Images |
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Big Tech Inc. Sonyâs live service plans: Sony is going all in on its live service offerings. This follows the companyâs acquisition of Bungie earlier this year. Sony laid out plans this week for its company life after the acquisition, which includes investing heavily into the live service gaming sector, though it did not go into specifics on which of its franchises would get the treatment. Snap to it: We thought Snapchat was just individuals pushing out small âsnapsâ to other individuals, but the social media giant has bigger plans than that. Its snappy new feature, âShared Stories,â is a riff on its âCustom Storiesâ feature to enable users to, well, you can see where we are going with this. Hereâs how it works: Users added to a group can add their friends, too, to make it easier to share their stories. Donât worry, if someone in the friend group is not your cup of tea, your stories wonât be shared with them. Database debacle: Voto Consulting, a New Jersey talent-acquisition firm, learned the hard way what happens when you donât password-protect a database and leave it on the internet. The résumés and personal information from some 30,000 workers was exposed. As Zack reports, the story gets way more interesting â something that you really need to check out for yourself. Drive time: In todayâs transportation news, Rivian opened up its hood and rearranged some things with the companyâs engine (yes, we know it’s an electric vehicle) in the way of hiring new COO Frank Klein. This comes amid some other leadership changes as its head of manufacturing said goodbye. Meanwhile, Tesla says it wonât open a manufacturing plant in India until it can first sell and service vehicles in the country. Manish lays out the back-and-forth going on between country and company: Country officials want cars to be built locally and for Tesla to follow its high import duties. Tesla doesnât want to pay higher fees yet if the market doesnât test well. Thus a superfun standstill. |
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