To have a roundup of TechCrunch’s biggest and hottest stories delivered to your inbox every day at 3 PM PT, Subscribe here.
happy Friday everyone! If you’ve been sitting around this weekend, find your TechCrunch podcasts and check out what happened this week at TechCrunch+. Just a reminder that there will be no newscast on Monday for the 4th of July. I wish you a safe weekend. See you on Tuesday! – Christine
Note: We have deals for you that we don’t want to miss! First, save 50% on TC+ annual subscription. A two-for-one ticket for the TechCrunch Disrupt sale will expire on July 5.
Top Tech Crunch 3
- Some developers are not happy: If you have not had the opportunity to meet our new correspondent in Europe, Paul SawersYou’re about to get a treat, because he got her out of the park today. He has written about the Software Freedom Conservancy and urged open source developers to get rid of GitHub after Copilot’s commercial launch. Their beef, among other things, is that there is now a fee associated with the use of a co-pilot.
- Things are getting worse: Buy Now, Pay Later Fintech company Klarna is reportedly raising a new round of funding at a significantly lower valuation than some of its previous rounds. Mary Ann He has more.
- Valuation does not wait for the market: Alex He delves into OpenSea’s $13 billion valuation and why that doesn’t line up with what he sees as NFT trading volumes.
Startups and VC
A bit slow day for startup news, but let’s dive in:
- another wave: Natasha And the Amanda We’re back with the worst list we’ve put together – technical layoffs.
- No head in the clouds here: Snowflake has made a name for itself in all things cloud data storage, and rune Today he writes that Hydra is here to take an open source approach. The company, which raised $3.1 million after graduating the 2022 winter season at Y Combinator, has built its cloud data warehouse on top of the popular open source Postgres database.
- extra efficiency: You’ve highlighted Promoted.ai’s new $6 million core extension that will guide the company’s long-term vision to help e-commerce marketplaces achieve profitability. Their technology brings all those gooey market goodies, search, feed, ads and promotions, together in one platform.
- bullet in the arm: Medical tests weren’t that important now, and pilgrim I got word that Visby Medical brought in another $35 million, an extension of the $100 million Series E round raised earlier this year. The company is working on “the world’s first tool-free portable PCR platform to quickly and accurately test a variety of serious infections for anyone who needs it.”
Pitch Deck Teardown: Wilco’s Initial $7 Million Collection
Founders with a technical background would do well to heed one of the biggest takeaways from Wilco’s initial $7 million presentation: avoiding the trap of focusing too much on product features, rather than benefits, pilgrim Writes.
The “how” will be important, but it risks the temptation to go into more detail than is important to the presentation platform. The “what” is very tactical; For this part of the story, it doesn’t really matter what users need to do to get these benefits. Focusing on “why” is the reason for the strength of this segment; It opens the door for more in-depth conversations if needed, but the foundation is there. I hope more startups get this right! “
(TechCrunch+ is our membership program, which helps founders and startup teams move forward. You can register here.)
Big Tech Inc.
Yes, the Apple Store was down for two hours yesterday, but now everything is fine with the world. pilgrim It stated that it’s back with the removal of Enjoy — the company that was responsible for connecting and setting up Apple devices — after Enjoy filed for bankruptcy, and that a $50 gift card would ship with the purchase of an Apple TV 4K and Apple TV HD.
that I He investigates a story about the US commodity regulator, the Commodity Futures Trading Commission, as he pursues a civil lawsuit against Mirror Trading International Proprietary Limited, a South African Bitcoin pool operator, and its CEO, Cornelius Johannes Steinberg, for allegedly operating a fraudulent commodity group worth more of $1.7 billion in bitcoin.
across the pond, Natasha Throw in a pair of EU related stories today. One of them is that Amazon has agreed to make it easier for people to cancel their prime membership, while lawmakers have given their seal of approval to some new regulations regarding cryptocurrency.
- Google settles: Evan He writes that the search giant has agreed to pay $90 million to settle a lawsuit with US developers who accused Google of abusing its power to distribute apps and charging an unfair 30% fee for in-app and in-app purchases made through the Play Store.
- cipher chaosA company, whose application for a bitcoin spot exchange-traded fund was rejected by the U.S. Securities and Exchange Commission, is now suing the federal entity. Jackie Reports on why one expert says this approach is unlikely to work.
- FTX at it again: First, it was rumored that FTX was looking to acquire Robinhood, which has been debunked, but now it appears that another BlockFi deal is still pending. Lucas He has more.
- No EPA, no crying: Tim He delves into why the EPA’s recent Supreme Court ruling “would ensure that the United States would not be competitive with China or Europe”.