Saturday, May 14, 2022
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One other week of job slashes and crypto crashes – TechCrunch

Hello buddies! Welcome again to Week In Evaluation, the publication the place we wrap up lots of the prime tales…

By Staff , in Crypto , at May 14, 2022

Hello buddies!

Welcome again to Week In Evaluation, the publication the place we wrap up lots of the prime tales to cross TechCrunch’s entrance web page during the last seven days.

The huge factor this week — not less than 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 penning this. Ethereum is down over 30% in the identical timeframe — from round $3,100 per ETH to round $2,000.

Why? For that I defer to Lucas and Anita and their new podcast/publication Chain Response. Any time I write about cryptocurrency I are inclined to really feel dumb and improper inside about 48 hours — luckily, the Chain Response workforce has a a lot higher grasp on these things 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, while 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 bought a fairly good sense of what occurred in tech. So let’s dive in!

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Picture Credit: Google

Apart from a crypto crash, what else occurred this week? Tons.

Google I/O occurred!: Whether or not everybody’s over shopping for a brand new cellphone yearly or we’re all simply centered on the million different issues happening proper now, it felt like Google’s annual convention/keynote simply kinda… got here and went. Whereas Google stored quite a bit of the particular particulars below wraps, the large information out of the present was early glimpses of a brand new Pixel cellphone, 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, and so they’re nonetheless taking part in with the thought of Google Glass. I don’t put on glasses (but), however the reside, real-world subtitles on this idea video would have me rocking a pair in a heartbeat.

Extra tech layoffs: Sadly, the current pattern of tech layoffs continues. Over the previous few weeks we’ve seen layoffs from Robinhood, Netflix, Thrasio, Cameo, OnDeck, and MainStreet. This week that checklist grew to incorporate Carvana, Latch, DataRobot, and Section4. In the meantime, a lot of huge tech cos. introduced that they’re slowing or outright freezing hiring. Amanda and Natasha have the total breakdown.

Instagram is testing NFTs: Due to course they’re. Keep 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 World has almost depleted its newest VC fund: Effectively, 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 boost and consists of $1.5 billion in commitments from Tiger World’s personal workers — is nearly totally invested already.”

DJI’s Mini 3 Professional: DJI has a brand new drone, and TC’s Darrell Etherington is a fan up to now (with the caveat that he principally 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 identified for its train bikes (and extra just lately treadmills) has a brand new piece of at-home train {hardware} within the works: a rowing machine. Whereas it appears 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 extremely tough quarter — however, as Brian Heater places it, it’s not less than “a brilliant spot” for the corporate after a streak of dangerous information.

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lone figure at entrance to maze hedge that has an American flag at the center

Picture Credit: Bryce Durbin/TechCrunch

We’ve got a paywalled part of our web site known as TechCrunch+. It prices a couple of dollars a month and it’s stuffed with excellent stuff! From this week, for instance:

US Visa choices for worldwide founders: So that you began your organization exterior of the US and now you wish to transfer to Silicon Valley. What are you able to do? Immigration lawyer Sophie Alcorn runs via the choices.

Why Airbnb is reinventing itself: Airbnb went via a serious 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 Sequence A Deck: It’s pitchdeck teardown time! Haje takes a take a look at the deck utilized by pet telemedicine platform Dutch to boost 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.

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