To get a roundup of TechCrunch’s biggest and most important stories delivered to your inbox every day at 3pm PT, head over to TechCrunch. Subscribe here.
Hi friends. It’s Kyle, who fills in for Daily Crunch Naseerine Hage and Christine. I can’t match the shrewdness and intelligence of my esteemed colleagues, but – unlike a megalomaniac billionaire who will not be named – I promised to avoid any passive-aggressive language about adhering to a “hardcore” work culture. You won’t have to press a button to pledge your allegiance here, and you don’t have to worry.
While Twitter under Elon Musk remains the talk of the town (for all the wrong reasons), I’d like to draw attention for a moment to TechCrunch Sessions: Crypto, the event in Miami this week — as coincidentally as cryptocurrency exchange FTX and its tangled network of investments exploded. (I swear we didn’t plan on that, honestly). Did we happen to be present? amazing! If not, we’ve got you covered with in-depth reviews of all the major sessions. Check them out here.
If you’d much prefer a break from the current news cycle – and I really can’t blame you – please consider offering this feature of Ron Miller And the Anita Ramaswamy reading. (You’ll need a TC+ subscription.) While delving into the FTX debacle, it takes a higher level, detailed look at web3 and tries once and for all to answer the question: “Is web3 truly innovative or a simple repackaging of existing technology?” The answer may surprise you.
Now, without further ado, here’s a roundup of this week’s events. – Kyle
Top Techcrunch 3
No blue for you: For the masochists out there who have subscribed to Twitter within the past few weeks, you’ll have to wait before you can purchase a subscription to Twitter Blue, Twitter’s premium plan that adds – among other benefits – a blue “Verified” checkmark. In this week’s policy change I mentioned before IvanTwitter said that new Twitter accounts will wait 90 days before they can buy Blue. It is likely aimed at stemming the torrent of impersonations that have been increasingly rampant on the platform in recent weeks.
Quick rebellion: Taylor Swift fans aren’t too thrilled with the Tickemaster’s handling of advance sales for the megastar’s upcoming Eras Tour. There are no regulators. Tennessee Attorney General Jonathan Scrimetti is among those looking into whether Ticketmaster violated consumer rights and antitrust regulations by subjecting customers to technical errors and long wait times, with many ultimately unable to purchase a ticket, Catherine reports.
Shop while you…you know: Merch is coming to OnlyFans. Amanda He writes about the platform’s new partnership with Spring, the e-commerce company formerly known as Teespring, which will allow OnlyFans creators to list physical products directly on their profile pages. OnlyFans does not take a cut of the transactions, but, as Amanda notes, the feature incentivizes creators to integrate their work deeper within the platform.
Startups and VC
Is Patreon still the place for creators? Fanfix says it isn’t. Today, Fanfix, a Gen Z-focused competitor, launched SuperLink, a standalone “link in bio” tool for existing apps like Instagram and Snapchat that brings up a creator’s Fanfix page. It may not be new—Linktree has long dominated the dynamic link space—but, it is Lauren The year-old Fanfix writes that he sees SuperLink as a path to grow his base of more than 9.6 million users, who are said to be earning millions of dollars on the platform. Certainly there is a great opportunity for expansion. A recent Adobe survey found that the creator economy – adults who engage in ‘creative activities’ and publish and promote their work online – has grown by more than 165 million globally in the past two years.
We Reached for the Sky India’s first private rocket, made by startup Skyroot Aerospace, had a successful launch this week. Jagmeet Reports indicate that the launch of the rocket – dubbed Vikram-S – followed much anticipation and years-long work by Skyroot, which was founded by former Indian Space Research Organization scientists Pawan Kumar Chandana and Naga Bharath Daka.
In other noteworthy news:
- revenue driversJumia, the African tech startup built around marketplace, logistics and payment service, is cutting products and overhead as the company’s new management seeks to turn a profit. Crown He has the details.
- Power upElectric vehicle startup Nio is accelerating its expansion in Europe. The premium electric vehicle manufacturer has just launched its first power swap station in Varberg, Sweden, Rita reports.
- Reduce the number of employees for the sake of profitGoTo, Indonesia’s largest internet company, cut 1,300 jobs on Friday as the company tries to cut costs and improve the financial situation. as such Manly… masculine He writes, GoTo joins dozens of domestic and global peers in its decision to cut its workforce to counteract the economic slowdown.
- Connecting citizens with aid: Beam, a startup that helps citizens access government financial aid, has raised $6.4 million in Series A funding. Andrew It delves into the business model, which includes partnering with governments and serving as a one-stop cash assistance management system for handling applications, identity verification, case decisions, and payments.
- I always feel like someone is watching meThere is money in layering AI technology on top of CCTV feeds. Spot AI is the perfect example — the company raised $40 million this week for a cloud-based analytics system that “reads” camera footage for insights. Ingrid He has the scoop.
- Would you give up your share of the house in exchange for a larger apartment? Virgil thinks you will. The French startup — which invests in apartments alongside home buyers before they even get the keys to their new home — raised $15.6 million in its latest funding round, Roman reports.
- AI-generated porn monetization: Amanda And the I Dive deep into the wonderful – and terrifying – new world of artificial intelligence-generated pornography. One group is trying to monetize it. It is unclear if they will succeed, given the legal, ethical and technical challenges ahead.
How much tax do you owe when you sell your company?
Starting a startup is hard work, so asking the founders to prepare for an acquisition might sound as silly as telling them to practice their Oscar speech in the bathroom mirror.
still . . . If you are ready to start a startup, you should also be ready to sell one.
In an explanation for TC+, Peyton Carr, managing director of Keystone Global Partners, provides a framework for calculating taxes at exit and identifies the differences between short-term capital gains and long-term capital gains rates.
“As a founder, you will need to plan for your personal tax situation to improve the range of opportunities that are presented to you.”
Here’s more from the TC+ team:
- What we will lose with TwitterIn a terrific column, several TechCrunch employees contributed what they’d miss most if Twitter disappeared — while they hope it still does tomorrow. High-level takeaway? Twitter has value beyond driving traffic for journalists and other users, despite what some critics might think.
- Take action on open source security: Javier He writes about the Open Source Software Security Act, bipartisan legislation in the United States that recognizes the importance of open source software and states that the federal government must play a supportive role in ensuring its long-term security.
- Measuring transformation in e-commerceIs it possible to measure the slowdown in global e-commerce? Alex And the I Give it the best of both worlds, examining how the pandemic pressures on e-commerce businesses are beginning to lift and change the way these businesses operate.
Techcrunch + It is our membership program that helps founders and startup teams get ahead of the pack. You can register here. Use the code “DC” to get 15% off an annual subscription!
Both Kenya and Nigeria have seen a proliferation of loan applications in recent years, many of which offer fast, unsecured personal lines of credit of up to $500. The lack of regulations has attracted rogue operators, unfortunately—almost 40 loan applications in Kenya are under investigation by the Office of the Data Protection Commissioner on data breach complaints submitted by users. After passing new laws in countries to clamp down on the industry, Google has launched the nefarious loan apps available on Android from the Google Play Store, according to reports. that I. This is welcome news, I will say.
On the subject of regulation, the FCC announced this week that it will require broadband providers to display a “feeder label” with all clearly stated fees, catches, and restrictions for any plan they offer. As Devin explains, the labels will show things like price, contract length, whether the price will change after a certain period and “typical” download and upload speeds as well as response time. Don’t expect the labels to appear right away – the FCC’s rules must first be reviewed by the Office of Management and Budget and published in the Federal Register, at which point broadband providers will have six months to a full year to comply – but greater transparency in Internet plans could be something Only well, I would argue – even if it comes slowly.
Here are the rest of this week’s events:
- Many new chips: Qualcomm launched its latest Snapdragon chip and a new AI platform at the company’s annual Snapdragon Summit, Brian reports. The Snapdragon 8 Gen 2, as the chip is called, features enhanced AI processing and computational imaging such as recognizing and segmenting different aspects of an image before capturing the image.
- Get crispy: Thanks to the partnership between the two companies, Discord users can now stream the movie or TV show they’re watching on Crunchyroll via their Discord profile. Lauren notes that Crunchyroll is the latest media company to support “Rich Presence,” Discord’s “Now Playing” functionality that automatically shows the video you’re watching, the game you’re playing, the song you’re listening to, and more right in Discord.
- Privacy first: Jagmeet And the Manly… masculine Covering India’s proposed data privacy law that would dictate how companies handle their citizens’ data, including allowing the transfer of information across borders with certain countries. It comes three months after the country’s regulators abruptly withdrew the earlier proposal after scrutiny and concerns from privacy advocates and tech giants.
- Hydrogen poweredOn Thursday at the Detroit Auto Show, Hyundai revealed a hydrogen fuel-cell hybrid vehicle called the N Vision 74 that the company says illustrates the performance sub-brand’s vision for electrification. The car’s W hydrogen fuel cell converts hydrogen into electricity to charge the 62-kWh internal battery – a clever concept. But, as you mentioned AbigailHyundai won’t say if this type of powertrain will go into production.