Tech

Technology Forget Umbrellas • TechCrunch

Welcome to Startups Weekly, this week’s newsletter detailing startup news and trends by Senior Correspondent and Equity co-host Natasha Mascarenhas. To get this in your inbox, subscribe here.

It seems technology has forgotten its umbrella. Like, it remembers to bring a water bottle, wear proper shoes, and wear thick clothes, but when it’s time to officially go out — and say, let’s face next year — it realizes that a hoodie Waterproof is not enough. It needs an industrial umbrella.

Do you understand what I mean?

This is what I’m dancing, or, um, writing, around. It seems that the macroeconomic environment has been reasonably volatile over the past year; and is stand still witnessed entrepreneurs react to the market as if it happened to knock on their door, tripping them and stealing all their belongings. I’m not saying founders and investors should accurately predict what Q1 will look like this year; I’m just wondering how long we’re going to use the “economy” as a catalyst for tough decisions.

In the end, what caused a CEO to resign? What ultimately causes a company to conduct a third round of layoffs? Is it the economy, or is it a single human decision that comes just a few months after you’re asked to grow at all costs? When we talk about pivots and layoffs, I think it’s important to talk about the realities of changing to deal with the new normal. Abstract things such as the economy just went down after more than a few months since the market turned gray.

I guess what I’m trying to say is, you can leave the house when it’s drizzling and go to the grocery store just because it’s a little wet. If you forgot your umbrella in a downpour, you’re soaking wet now and no one feels bad for you. Don’t forget them, and better yet, show them off proudly.

Did you know it’s raining on the East Coast? follow me on Twitter or Instagram for other metaphors and side thoughts. For the rest of this newsletter, we’ll talk about a new venture fund that isn’t afraid to talk about perks or honesty,

G on WOOD

I spoke with Sophia Amoruso, founder of Nasty Gal and Girlboss, about her new venture fund for founders, Trust Fund.

It is launching with a target of $5 million, targeting check sizes between $50,000 and $150,000. She got a check from someone in the tech industry. Featured investors include a host of a16z partners such as Marc Andreessen, Andrew Chen and Chris Dixon, as well as entrepreneur Ev Williams, icon Paris Hilton and backing from investors Ryan Hoover and Sarah Kunst of Cleo Capital.

Here’s why this is important: It was her famous and powerful experience in the Silicon Valley limelight that ultimately gave Amoruso the executive experience needed to set up her own venture. When she is opening an allotment of 5 million dollars For accredited investors outside of her network, she says from a portfolio-building perspective: she’s not necessarily looking for “the diamonds in the rough” or a diversity quota. specific.

“I plan to invest in men and women and everything in between. And if anything, like why not invest in a guy’s perks and rides?” Amoruso said. “As a woman, why wouldn’t I want to invest in the advantages that men have, like feel free to announce it — it’s true.”

Sophia Amoruso, Founding Partner of Trust Fund.

Image credits: Emily Malan

Gas

Discord has acquired Gas, a compliment-based social media app for teens. Amanda Silberling’s report:

On Gas, users register with their school, add friends, and answer polls about their classmates. However, the questions in the polls are intended to boost user confidence rather than spoil it. Teens might be asked to choose which of their four friends is the best DJ or has the best smile. The selected person will then receive an anonymous message with their praise, sent from a vague “tenth grade boy” or “11th grade girl”.

Here’s why it’s important: When Clubhouse first gained popularity, investors as well as founders were excited about the opportunity to innovate in the consumer social space. Since then, the Clubhouse has been through many hardships — listen to my Equity with CEO episode here – but so does Twitter. I think Gas and’s early exit series of similar apps already on the site, can bring some much-needed optimism to the conversation.

Image credits: Bryce Durbin/TechCrunch

follow

I have followed Clearco, formerly known as Clearbanc, for many years. Like many people, the Toronto-based fintech has had a particularly volatile past 12 months. But this week really marks the end of an era, with the co-founder Michele Romanow resigns as the CEO of the tech unicorn.

Here’s why it’s important: Clearco has experienced numerous layoffs because of the pandemic, including a cut that affected 25% of employees. Additionally, in 2022, the Toronto-based fintech sees another co-founder, Andrew D’Souza, step down as CEO to be replaced by Romanow. Both co-founders will now take over as executive chairman.

“We never lie, we are under pressure like every other company to be a profitable business. And so, we’ve continued to make tough decisions… and continue to be on the cutting edge of trends.” Romanow said in an interview with TechCrunchexplain the change.

The red power plug and cable form a graph on a blue background.  usage-based pricing

Image credits: Photo Javier Zayas (Opens in a new window) / Beautiful pictures

Et cetera.

Seen on TechCrunch

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Boston Dynamics’ latest Atlas video demonstrates a robot that can run, jump and now grab and throw

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What’s Next for the Entrepreneur Behind Layoffs.FYI

Seen on TechCrunch+

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Build a company, not a feature

7 space technology predictions for 2023

With that said, I’m going to enjoy a weekend in Philadelphia with some old and new friends. Anyone else tired of my East Coast travel? No? Only me? I will be back to San Francisco and your inbox soon.

Care of,

WOMEN




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