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Completely satisfied Friday, Crunchers! It’s 27 Could 2022, and we’re slinking into a protracted weekend as a result of it’s Memorial Day weekend right here within the U.S. There’s no e-newsletter on Monday — Haje goes 🍷 wine tasting in Sonoma, and Christine is planning to spend Monday 🛋️ sitting on the couch doing completely nothing, which we have fun wholeheartedly. We’ll see you again right here on Tuesday!
Unsure what to do that weekend? Try this roundup of all of the superb podcasts we revealed this week. It’ll preserve you busy for a number of hours a minimum of. — Haje and Christine
The TechCrunch Prime 3
- Golden goose: Manish was on fireplace immediately, writing not one, however two of our prime tales of the day. The primary is about Jar, an Indian fintech firm that’s taking a look at a $50 million Collection B spherical. The nation’s residents have financial institution accounts to save cash, however Jar helps them do one thing they is probably not as conversant in — make investments. And the corporate has chosen to start out with one thing Indians are identified to like, gold.
- Revolving door: Manish’s second story has to do with one other Manish — Manish Maheshwari, the previous head of Twitter India, who left a startup he co-founded after simply 6 months. Our Manish reported in December that Maheshwari left his put up at Twitter to start out edtech firm Invact Metaversity with Tanay Pratap. The association didn’t appear to work out as deliberate, with some firm hiccups involving getting product out the door and a few management disagreements.
- Generally it’s not meant to be: In Substack’s case, a contemporary spherical of capital. Connie went over the small print yesterday of them making an attempt to boost a Collection C, however then calling it off when favorable phrases with buyers didn’t transpire. In the present day, Alex peels away a number of the onion layers to elucidate why Substack’s objectives, primarily based on its Collection B elevate in 2021, didn’t translate properly in 2022’s funding atmosphere.
Startups and VC
Earlier this week, Anita reported that Adam “WeWork” Neumann is again with a brand new startup, and raised backing from a16z. In immediately’s Chain Response podcast, Anita and Lucas focus on whether or not Neumann actually deserves $70 million and one other probability. We’re comprehensively confused why anybody would place one other guess on him, and we’ll little question be following his new startup carefully.
A number of extra gems for ya:
Experience or die-sel
Diesel costs alone are driving about 17% of the inflation we’re seeing immediately, and Tim writes a rousing piece about how gasoline and diesel are maybe not the best, particularly on condition that the financial system is peeking over the cliff into an abyss whose depth equals our normal optimism round local weather in the intervening time.
Maybe that’s precisely what’s wanted: Possibly when financial and local weather pursuits align, we discover the pot of “yay we are able to stay on this planet for a number of extra years” on the finish of the rainbow.
(TechCrunch+ is our membership program, which helps founders and startup groups get forward. You may join right here.)
Massive Tech Inc.
- Sony’s stay service plans: Sony goes all in on its stay service choices. This follows the corporate’s acquisition of Bungie earlier this yr. Sony laid out plans this week for its firm life after the acquisition, which incorporates investing closely into the stay service gaming sector, although it didn’t go into specifics on which of its franchises would get the remedy.
- Snap to it: We thought Snapchat was simply people pushing out small “snaps” to different people, however the social media large has greater plans than that. Its snappy new characteristic, “Shared Tales,” is a riff on its “Customized Tales” characteristic to allow customers to, properly, you possibly can see the place we’re going with this. Right here’s the way it works: Customers added to a gaggle can add their associates, too, to make it simpler to share their tales. Don’t fear, if somebody within the buddy group shouldn’t be your cup of tea, your tales received’t be shared with them.
- Database debacle: Voto Consulting, a New Jersey talent-acquisition agency, discovered the laborious method what occurs once you don’t password-protect a database and depart it on the web. The résumés and private data from some 30,000 staff was uncovered. As Zack reviews, the story will get far more fascinating — one thing that you really want to take a look at for your self.
- Drive time: In immediately’s transportation information, Rivian opened up its hood and rearranged some issues with the corporate’s engine (sure, we all know it’s an electrical automobile) in the way in which of hiring new COO Frank Klein. This comes amid another management adjustments as its head of producing stated goodbye. In the meantime, Tesla says it received’t open a producing plant in India till it will possibly first promote and repair autos within the nation. Manish lays out the back-and-forth happening between nation and firm: Nation officers need automobiles to be constructed domestically and for Tesla to comply with its excessive import duties. Tesla doesn’t wish to pay increased charges but if the market doesn’t take a look at properly. Thus a superfun standstill.