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Happy Friday, June 3, 2022. Or, while this damned pandemic is still going on, maybe it’s March 824, 2020, who knows. Whatever is happening in your world, we hope that you are experiencing peace and that you know the source of peace. Can you tell us about some hippie literature we’ve read recently? Those people seem pretty peaceful – maybe they’re up to something. Have a great weekend and capture your flip side! – Haje and Christine
TechCrunch’s Top 3
- Brrrr, it’s cold in here – the atmosphere must have frozen some recruiting: A week has passed for layoffs and layoffs, as you’ll see more clearly in our equity newsletter. So it’s perhaps no surprise that after asking Tesla employees to bring them into the office, Elon Musk asked executives to freeze the hiring of salaried employees. The news not only rattled Tesla stock but also gave President Joe Biden some resources for his jobs report.
- Delivery kids are not okay: Delivery startups that were once the darlings of venture capital like Kyle put it, found their stride where none of us have been able to get there in the last 2 years. But it seems that the faster the delivery time or what it promises, the more certain companies fail to deliver. Sources say the correction is a combination.
- “Inflation and layoffs and supply chain problems, alas!”: That is Ronassessment of what’s going on out there. However, when he found out while listening to Salesforce’s first-quarter results call, CEO Marc Benioff revealed that his company didn’t see the quarter go down like some others have. do.
Start-ups and VC
Sometimes, you come across companies that talk with a forked tongue. I’m not saying that’s the case for Blackbaud’s ‘socially good’ cloud business, but it certainly is. It’s a bit odd to have the National Rifle Association as a client since 1997like Devin report.
A proposal to call cow dung when we see it; Team a (Amanda and Anitaobvz, that other Group A has much less credibility) argues that maybe we should cool it off with the ‘girlboss’ moniker.
But wait, there’s more:
- Bad contractor, no customer data for you: Kyle reported that Reco, a company that uses AI to map a company’s data sharing, announced today that it has raised 30 million dollars.
- You turn me right, baby, right round, like a starter, baby, right round: Matt host one of our favorite sessions on TechCrunch’s City Spotlight this week, exploring how a 10-year-old startup is Olive ends rotate 27 (!) times before accelerating the company to a $4 billion valuation.
- Bosch cleans: Famous for hand tools and washing machines, and less famous (but hugely industry-known) for auto components, 135-year-old company Bosch just announced a $295 million corporate venture capital fund investing in climate, IoT and autonomous vehicles, Harri report.
- Chips to soak: Korean AI chip maker Rebellions just raised a $50 million investment from Pavillion Capital, Kate report.
- Yes, please let AI: As Pinterest focuses on improving the online shopping experience on its platform, the company announced this afternoon it gets an AI-powered fashion shopping service called Yes, Sarah report.
- Moar fired today: Both Social App IRL and Insurtech company policy cut their respective workforces by 25%, as the Great Belt in 2022 program continues.
Black Founders Matter pushes VCs to commit to diversity
In an interview with new TechCrunch reporter Dominic-Madori Davis, Marceau Michel, founder and managing partner of the Black Founders Matter VC Foundation, talked about a new initiative to promote diversity in technology.
“This is about changing the dynamics of power in venture capital,” he told TechCrunch. “You have to start seeing who gets left behind and get them back to the starting line.”
Under the 25 x 25 Pledge, investors will promise to transfer 25% of their funds to BIPOC women founders by 2025.
“If a fund doesn’t want to make this commitment… the question is why,” says Michel. “The status quo can no longer hold. Keeping people who look like us out of the picture just doesn’t work. “
(TechCrunch+ is our membership program that helps founders and startup teams rise to the top. You can register here.)
Big Tech Inc.
Microsoft says it thwarted the plan of a hacking group based in Lebanon, which is believed to be working with Iranian intelligence, is said to target Israeli organizations. A group called Polonium is creating Microsoft OneDrive accounts and then using them to carry out attacks.
Longtime Amazon Consumer Division CEO Dave Clark Says He’s Resigning from the company in July after 23 years with the company. It’s unclear why he’s leaving after only taking on the role two years ago, but Clark tweeted that “it’s time for me to rebuild.”
In the news about the new feature:
You may have missed these gems from yesterday, but Coinbase surprised us by announcing that they are freezing their recruitment process. Initial reports said the company had rescinded offers for new employees that had been accepted, but those had not yet started. Now we get the news that their work is safe. Don’t worry, we’re engaged and hope to get this resolved soon. Next, General Motors’ autonomous vehicle unit Cruise can now charge for drone rides in San Francisco. And we look at a report that only shows it’s hard to get an app at the top of the App Store.