Hello mates!
Welcome again to Week In Review, the e-newsletter the place we wrap up lots of the prime tales to cross TechCrunch’s entrance web page during the last seven days.
The large factor this week — at the least based mostly on what our backend suggests readers cared about most — was the crypto market plunging onerous and quick. Bitcoin is down over 25% month-over-month, from round $41k per BTC to round $30k on the time I’m scripting this. Ethereum is down over 30% in the identical time-frame — from round $3,100 per ETH to round $2,000.
Why? For that I defer to Lucas and Anita and their new podcast/e-newsletter Chain Reaction. Any time I write about cryptocurrency I are inclined to really feel dumb and unsuitable inside about 48 hours — happily, the Chain Response staff has a a lot higher grasp on these items than I do. This week they sat down with repeat-founder-turned-investor Kevin Rose, who says that is his “tenth or so” crypto downturn, for some insights.
My purpose with Week In Evaluation is to maintain you all feeling knowledgeable — to make it in order that, once you click on in on the finish of a busy week, you’ll be able to skim WiR and really feel such as you’ve received a fairly good sense of what occurred in tech. So let’s dive in!
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Picture Credit: Google
In addition to a crypto crash, what else occurred this week? Heaps.
Google I/O happened!: Whether or not everybody’s over shopping for a brand new telephone yearly or we’re all simply targeted on the million different issues occurring proper now, it felt like Google’s annual convention/keynote simply kinda… got here and went. Whereas Google stored rather a lot of the particular particulars underneath wraps, the massive information out of the present was early glimpses of a brand new Pixel telephone, a brand new “Professional” line of Pixel ear buds, and enhancements to Google Maps, Assistant, and Translate. Oh, and Google’s lastly making their very own smartwatch! Oh, oh, they usually’re nonetheless taking part in with the concept of Google Glass. I don’t put on glasses (but), however the reside, real-world subtitles in this concept video would have me rocking a pair in a heartbeat.
More tech layoffs: Sadly, the latest development of tech layoffs continues. Over the last few weeks we’ve seen layoffs from Robinhood, Netflix, Thrasio, Cameo, OnDeck, and MainStreet. This week that listing grew to incorporate Carvana, Latch, DataRobot, and Section4. In the meantime, quite a few large tech cos. introduced that they’re slowing or outright freezing hiring. Amanda and Natasha have the complete breakdown.
Instagram is testing NFTs: Due to course they’re. Bear in mind when Instagram was only a place the place we’d spend means an excessive amount of time taking sepia-toned photos of our breakfast and that was sufficient?
Tiger Global has nearly depleted its latest VC fund: Nicely, that was quick. In March of this yr, Tiger World closed its newest enterprise fund with a huge $12.7 billion in commitments. Simply months later, Connie Loizos writes “that new fund — which reportedly took lower than six months to lift and contains $1.5 billion in commitments from Tiger World’s personal staff — is nearly totally invested already.”
DJI’s Mini 3 Pro: DJI has a brand new drone, and TC’s Darrell Etherington is a fan thus far (with the caveat that he largely recommends the costliest choice, which is a couple of hundred bucks greater than the $669 base mannequin).
Row, row, row your… Peloton?: The corporate finest recognized for its train bikes (and extra lately treadmills) has a brand new piece of at-home train {hardware} within the works: a rowing machine. Whereas it seems like rowing machines are having a little bit of a second proper now, it’s onerous to think about that this alone turns issues round for Peloton after an incredibly rough quarter — however, as Brian Heater places it, it’s at the least “a vivid spot” for the corporate after a streak of dangerous information.
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Picture Credit: Bryce Durbin/TechCrunch
Now we have a paywalled part of our web site known as TechCrunch+. It prices a couple of bucks a month and it’s stuffed with excellent stuff! From this week, for instance:
US Visa options for international founders: So that you began your organization outdoors of the US and now you need to transfer to Silicon Valley. What are you able to do? Immigration lawyer Sophie Alcorn runs by the choices.
Why Airbnb is reinventing itself: Airbnb went by a significant overhaul this week, in a transfer that CEO Brian Chesky calls a “top-to-bottom improve.” Jordan Criminal sat down with him to be taught what modified and why.
Dutch’s $20M Series A Deck: It’s pitchdeck teardown time! Haje takes a take a look at the deck utilized by pet telemedicine platform Dutch to lift a $20M Sequence A. Can each pitchdeck pull off 14 images of lovely animals? Most likely not. However this one can, a lot to Haje’s delight.
