Another week of shrinking jobs and crypto crashes – TechCrunch

Hello friends!

Welcome back Review of the weeknewsletter where we’ve rounded up many of TechCrunch’s top front-page stories from the past seven days.

The big thing This week – at least based on what our backend shows readers are most interested in – is that the crypto market is plunging hard and fast. Bitcoin is down more than 25% over the last month, from around $41k per BTC to about $30k at the time of writing this. Ethereum is down more than 30% in the same time frame – from around $3,100 per ETH to around $2,000.

Why? Because of that, I put off Lucas and Anita and their podcast/newsletter Chain reaction. Whenever I write about crypto, I tend to feel silly and misguided within 48 hours – fortunately, the Chain Reaction team has a lot of Better grasp of this stuff than I do. This week, they sat down with returning investor-founder Kevin Rose, who says this is his “10th or so” crypto recession, for some insight. .

My goal with Week In Review is to help you stay informed – to make it even better, when you click at the end of a busy week, you can flip through WiR and feel like you’ve understand quite well what’s happened in the tech sector. So let’s dive in!

different things

Image credits: Google

Aside from a crypto crash, what else happened this week? Great number of.

Google I/O Happened!: Whether everyone buys a new phone every year or we all just focus on a million other things going on right now, looks like Google’s annual conference/speech has just… come and go. While Google keeps great number of In terms of practical details summarized, the key news on the show are preliminary looks at the new Pixel phones, the new line of Pixel “Pro” earplugs, and improvements to Google Maps, Assistant, and Translate. . Oh, and Google finally made their own smartwatch! Oh, and they’re still playing with the idea of ​​Google Glass. I don’t wear glasses (yet), but live subtitles, real world in this concept video would have me rocking a pair in a split second.

Other tech layoffs: Unfortunately, the recent trend of tech layoffs continues. Via a few weeks ago we’ve seen Robinhood, Netflix, Thrasio, Cameo, OnDeck and MainStreet layoffs. This week, that list has grown to include Carvana, Latch, DataRobot, and Section4. Meanwhile, some big tech cos. announced that they are slowing down or freezing hiring altogether. Amanda and Natasha have a total breakdown.

Instagram is testing NFT: Because of course they are. Remember when Instagram was just a place where we spent so much time snapping sepia-toned photos of our breakfasts and that was enough?

Tiger Global has almost exhausted its latest VC fund: Wow, so fast. In March of this year, Tiger Global closed its latest venture fund with a whopping $12.7 billion pledge. Just a few months later, Connie Loizos wrote that “that new fund – which reportedly took less than six months to raise and includes $1.5 billion in pledges from Tiger Global employees themselves – is almost fully invested.” full.”

DJI’s Mini 3 Pro: DJI has a new drone, and TC’s Darrell Etherington is by far a fan (with the caveat that he’s mostly recommending the most expensive option, several hundred dollars more expensive than the base model). $669 version).

Goods, goods, goods… Your Peloton ?: The company best known for its exercise bikes (and more recently treadmills) has a new piece of home exercise hardware in the works: a rowing machine. While it feels like the rowing machines are having a bit of a go, it’s hard to imagine that this alone has turned the tide for Peloton. after an extremely difficult quarter — but, as Brian Heater puts it, it was at least “a bright spot” for the company after a string of bad news.

things added

Lone figure at the entrance to the maze fence with the American flag in the center

Image credits: Bryce Durbin / TechCrunch

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:

US Visa Options for International Founders: So you’ve set up your company outside of the US and now you want to move to Silicon Valley. What can you do? Immigration attorney Sophie Alcorn runs through the options.

Why Airbnb is reinventing itself: Airbnb underwent a major overhaul this week, in what CEO Brian Chesky calls a “top-down upgrade.” Jordan Crook sat down with him to find out what changed and why.

Dutch $20 million Series A deck: It’s time to fall on the grass! Haje take a look at the deck used by Dutch pet telemedicine platform to raise $20 million Series A. Can each deck pull out 14 pictures of adorable animals? Sure is not. But this might make Haje very happy.

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