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Time for the Friday dance! We’ve mentioned our TC Sessions: Robotics virtual event a few times, but we have good news for event fans. Stick to your blockchains and sharpen your crypto wallets – we’re also hosting a TechCrunch session in November: Crypto! Nice weekend! I’ll see you on monday. — Christine and hey
The TechCrunch Top 3
- Words mean everything: Microsoft recently came under fire from developers for formulating a new policy prohibiting profiting from open source software, and while the company was reclaiming that policy, Paul offers a glimpse of what it will all mean.
- No snakes and frozen statues here: Christine writes about Medusa’s $8M seed round to acquire Shopify, with its open-source ecommerce tool for small businesses to grow their business beyond the basic API implementations provided by marketplaces.
- BLACKBOARD: No, it’s not today’s Wordle answer – we checked it – but fans of the game will be pleased to know that the popular computer game Guess the Word is being transformed into a board game. Ivan writes.
Startups and VCs
“We have entered an unprecedented combination of a crypto winter and broad macroeconomic instability, and we must prepare the company for the possibility of a prolonged downturn,” said Devin Finzer, CEO of OpenSea Luke reports.
The question jumps around Alexponders this morning why venture investing is slowing down when so much capital has been raised by VCs to invest? (Read more about it on TC+, our subscription product.)
The NGL and Sendit apps are problematic, Sarah writes for using deceptive tactics to trick their young users into believing that they are getting engagements from friends when they were not.
Start the weekend off by hopping along to this wildly dark and oddly menacing Rüfüs Du Sol EDM track as you skim the best of the rest:
- Hello, is this nothing? brian has just published its review of the Nothing Phone (1), saying it’s “a refreshing change in a smartphone market that’s lost a lot of its sense of fun”.
- Hello WYD: The race is on, with a number of startups competing to build crypto-native, consumer-friendly messaging platforms for web3, reports Conni.
- shields up: With her new startup Granitt, Runa Sandvik wants to help vulnerable people such as journalists and activists, but also politicians, lawyers, refugees and human rights defenders to protect themselves from threats they face in their work. Zack reports.
- You get a credit card, you get a credit card: Stori provides credit cards to underserved communities in Mexico. It has raised $50 million in equity at a valuation of $1.2 billion, writes Maria Ann.
- They really go places: Vector Partners raises new $126M fund to specifically address sustainable mobility companies, reports mike.
- It’s the birds and the bees and the flowers and the Vee Cees: Systemiq reportedly secures $70 million to fund early-stage climate technology founders Harry.
Pivot Your Startup into a Bear Market: Become Undeniably Fundable
Every founder is looking for ways to save money right now, but a laser focus on saving money rather than creating efficiencies will only delay the inevitable.
According to Kraig Swensrud, founder and CEO of Qualified, in July 2022, investors will not support companies that cannot demonstrate competency in five fundamental KPIs.
“We won’t be returning to the sugar high of the last decade anytime soon, but with integrity, strong leadership and operational efficiency, we can not only survive, we can thrive.”
(TechCrunch+ is our membership program that helps founders and startup teams get ahead. Here you can sign up.)
brian writes that after testing drone delivery in California, Amazon is going to the Lone Star State — that’s Texas, y’all — to begin delivery in the town of College Station, where Texas A&M University is located. Now, when Texans look up at the sky, “the stars in the night are big and bright” takes on new meaning.
As one of our colleagues noted, TikTok wrote a rather lengthy post basically announcing that its Chief Security Officer has resigned from his position. aisha reduces the messages to a more manageable length.
All Apple Music subscribers out there got another benefit with Apple Music Sessions, which provides access to audio recorded at Apple Music studios around the world. Country stars Carrie Underwood and Tenille Townes were the first to try. Lauren writes.
Natasha L gave us a good headline today with her story about a proposal by European legislators to facilitate the cross-border but also secure exchange of medical data.
Oh, and Bungie is now officially part of Sony, Taylor reports.
In case you missed it, our colleagues worked hard yesterday and here are some late stories you don’t want to miss:
https://techcrunch.com/2022/07/15/microsoft-clarifies-new-policy-on-open-source-monetization/ After developers complain, Microsoft clarifies new policy on open source monetization – TechCrunch