Friday, June 16, 2023

Reddit CEO dismisses protesting moderators as a ‘small group that’s very upset’

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By TechCrunch Staff

Friday, June 16, 2023

The Daily Crunch is taking Monday off for Juneteenth, but Christine will be back from vacation Tuesday to bring you the top stories of the day. 

But today, the Reddit story is alive and well. Ivan writes that CEO Steve Huffman is defending business decisions made by the company to charge third-party apps.

The Cybersecurity and Infrastructure Security Agency has confirmed that "several" U.S. government agencies have experienced intrusions related to the exploitation of a vulnerability in MOVEit Transfer.

And Bill Gates met President Xi Jinping on Friday in Beijing, according to China's state media. An official reason for the meeting has yet to be announced.

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More top stories 

Get your vegan ice cream — in Singapore: Natasha writes about Finnish startup Solar Foods' alternative protein, Solein, that has been blended into a custom (vegan) chocolate gelato at a restaurant in Singapore. It's not your average scoop, she says.

Robot green light: The U.K.'s antitrust regulator has approved Amazon's proposed billion-dollar iRobot acquisition, Paul writes, concluding that the deal "would not lead to competition concerns in the U.K."

Layoffs at Tada: Kate writes that Seoul-based, ride-hailing platform Tada plans to let go of a portion of the company's employees as part of a restructuring as it works to reduce costs. 

LockBit cyberattack: The Justice Department has arrested and charged a Russian national for his alleged role in multiple LockBit ransomware attacks against victims in the U.S. and around the world. Yesterday, Jagmeet wrote that the Russia-linked ransomware group has claimed responsibility for a cyberattack on Indian pharmaceutical giant Granules India and published portions of the data it allegedly stole.

Musk in Paris: Ingrid and Mike were at VivaTech in Paris today listening to Elon Musk talk about … everything, it seems.

Smart security? Zack writes that U.S. power and electronics giant Eaton has fixed a security vulnerability that allowed a security researcher to remotely access thousands of smart security alarm systems.

On TC+, Dom writes that Mistral AI's mega fundraise is a red flag for many concerned about inclusivity.

And in the latest Pitch Deck Teardown on TC+, Haje takes a look at the one Netmaker used to secure its $2.3 million round. Want to submit your own deck? Here's how.

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The smaller VC boom and its impact on diverse investors and founders

Can emerging managers do a better job of expanding access to capital than established VC firms?

Because many funds with less than $50M under management “are led by those from underrepresented backgrounds,” reports Dominic Madori-Davis, there's "an opportunity for smaller fund managers to step in and back the founders being overlooked and ignored on a higher level.”

To learn more, she interviewed:

  • B. Pagles Minor, founder, DVRGNT Ventures
  • Ramzi Rafih, founder, No Label Ventures
  • Madeline Darcy, managing partner, Kaya Ventures

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Get your TechCrunch fix IRL. Join us at Disrupt 2023 in San Francisco this September to immerse yourself in all things startup. From headline interviews to intimate roundtables to a jam-packed startup expo floor, there's something for everyone at Disrupt. Save up to $600 when you buy your pass now through August 11, and save 15% on top of that with promo code DC. Learn more.

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Thursday, June 15, 2023

Nonprofits, universities and banks on victim list leaked by Russia-linked ransomware gang

TechCrunch Newsletter
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By Haje Jan Kamps

Thursday, June 15, 2023

Exciting times in games land today, as Ingrid reports that Wargraphs, a gaming startup with only one employee and no outside funding, sells for $54 million, delivering a hell of a payday for its 33-year-old founder. 

Our cybersecurity reporting team is firing on all cylinders, as well, with Carly reporting that a ransomware gang lists first victims of MOVEit mass-hacks, and it turns out the affected includes U.S. banks and universities. Meanwhile, Zack reports that Mandiant says China-backed hackers exploited Barracuda zero-day to spy on governments.

And Manish reports that Lightspeed says India is not for the faint-hearted amid Sequoia split. 

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Image Credits: Bryce Durbin / TechCrunch

More top stories

Can't touch this: On TC+, Tim sheds some light on why every EV charging network combined can't compete with Tesla

A BYD for market domination: Rita reports that BYD is overtaking Tesla globally, but that its EV dream skips the US for now.

Think first, AI later: Natasha reports that a UK watchdog warns not to rush generative AI apps to market without tackling privacy risks.

Recharging women's health: Catherine reports that, with backing from Thiel, Recharge Capital launches a $200 million women's health investment vehicle.

Get that sweet sweet Canva money: Ron reports that Canva introduced new developer tools and a $50 million investment fund. On that note, over on TC+, Alex reports that Cava's explosive IPO hints that public markets are more ready for growth stories than founders have thought.

Today's 'didn't see that coming' comes from Devin, who writes that Mercedes is adding ChatGPT to its infotainment system for some reason. 

If you haven't fully figured out ChatGPT yet, Kyle has a primer: ChatGPT prompts: How to optimize for sales, marketing, writing, and more.

Hey Mickey you're so fine, please use your voice to blow my mind, hey Mickey: Lauren reports that Amazon's 'Hey Disney!' voice assistant is now available.

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New guidance from the US Treasury could unleash billions in renewable energy investment

Under new rules released by the Internal Revenue Service and the Department of the Treasury, local, state and Tribal governments can now access clean energy tax credits.

“The changes could pave the way for hundreds of billions of dollars worth of investment in the coming decade,” reports Tim De Chant.

“That tidal microturbine startup you've been incubating? Now might be a great time to start looking for investors.”

TechCrunch+ is our membership program that helps founders and startup teams get ahead of the pack. You can sign up here. Use code "DC" for a 15% discount on an annual subscription.

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