A brutal layoff week – TechCrunch

Hello friends.

In case you missed it last week: I Gregand I’m handling the Week in Review now that Lucas off with Anita build their new crypto-focused podcast/newsletter, Chain reaction.

I technically was supposed to be on vacation today, but I thought it might not be a good idea to throw the bulletin on someone else ONE WEEK after taking over, so I’m back on this newsletter. Normally I have a very good work/life balance, I promise! Sure, I have too many coworkers’ numbers set to automatically bypass the “Do Not Disturb” toggle on my phone and, yes, sometimes I wake up in the middle of the night to the virtual sound of Slack doesn’t really come out, but… hm. Maybe I take back that promise.

big thing

If there’s one “big deal” this week, unfortunately, it’s not an interesting thing to write about: Employees in the startup world are being hit hard with layoffs right now. hours, seemingly with a new set of cuts every day.

First Robinhood, Announcement it will lay off 9% of its full-time employees.

Then Netflix, cut (but don’t turn off!) much of the newly established internal publication, Tudum.

Then come Thrasio, Cameo, On the deck of the ship and Main road. And I’m sure there’s some I’ve overlooked or we haven’t heard of.

Why now? Short version: Many of these companies have noticed huge positive changes in their user bases (in size, usage, or both) with the pandemic and have adjusted accordingly. Now we are said to be on the other side of the pandemic (or closer as we approach some “other side”) and things are turning in a different direction…

Natasha Mascarenhas and Amanda Silberling take a deeper dive into year-end layoffs, and some of the reasons behind each. Check it out here.

different things

What else happened this week? Here are some of the things people read the most on the site:

The “father of the iPod” shows off his prototype collection: Tony Fadell, the man behind iconic devices like the iPod, iPhone, and Nest Thermostat, is writing a book about building things — and as part of the process, he’s purged his collection of About prototypes and concept art was once a secret. . He shared some great things with us, including a totally freaky iPod Mini/phone hybrid with a swivel head.

Rocket Lab catches a booster… with a helicopter: With more and more reusable space rocket parts available, companies are still figuring out the best/safest/most efficient way to really… you know, get those parts back. . Last weekend, Rocket Lab started using HELICOPTOR to capture a reusable booster when it fell from the sky… and it worked! At least, at first. I won’t even fly most video games helicopters because they’re always so hard, the whole thing breaks my brain.

Apple, Google and Microsoft team up to eliminate passwords: Not every day you see Apple, Google and Microsoft is working together on something… but this week, the trio announced that they’re teaming up to tackle a monster that causes all sorts of trouble: passwords. If all goes to plan, next year they will be rolling out a passwordless standard that allows you to use your smartphone’s fingerprint reader or face scanner to log in to anything. on macOS/Safari, Android/Chrome and Windows/Edge.

Instagram is testing a full-screen experience: Why? It’s hard to answer that without using the word “TikTok”.

Google is working to improve the removal of personal information: Have you ever googled and found your home address or phone number on a sketchy website and refused to remove it? Google – after many, many years of complaining – has put in place a process to collect those search results. Zack has step-by-step instructions on how to submit a request… but how long can it take to actually complete? TBD.

things added

We have a fee wall section on our website called TechCrunch+. It costs a few dollars a month and is full of very good stuff! From this week, for example:

UiPath’s Plunging Valuations: UiPath’s valuation has completely plummeted over the past year. Why? Ron and Alex have some thoughts.

6 issues investors look for: You’ve created something interesting and it looks like it’s finding an audience, and now you’re ready to raise some money…or are you? Bill Petty of investment firm Tercera outlines six things every investor should look for during the due diligence process.

Common mistakes founders make with financial projections: Financial projections do not exist just to make potential investors happy. In this post, Jose Cayasso, co-founder of founder preparation platform Slidebean, analyzes some of the most common mistakes he sees in founders they work with.

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