Friday, October 6, 2023

MGM Resorts says cyberattack that stole customer data will reduce its Q3 profits by $100M

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By Christine Hall

Friday, October 06, 2023

In today's top story, we bring you an update on the cyberattack at MGM Resorts that was first disclosed in September. The hotel and casino giant confirmed that hackers stole customers' personal data. Get the scoop.

Next, we hear that a few venture investors and startups in India are considering a stake in Nainital Bank. Read more.

Meanwhile, some new numbers show that India has been a tough market for Netflix. Here’s why.

And the rumored "Superpremium" service Spotify was prepping may becoming a reality soon. Learn more.

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Image Credits: Savushkin / Getty Images

More top reads

SBF: Our resident crypto expert Jacquelyn Melinek is on the ground in New York to cover the Sam Bankman-Fried trial and put together the latest updates on the FTX collapse's courtroom drama. See the On the Pods section below as well. And go inside Matt Huang's testimony. He is an executive at crypto investment firm Paradigm claiming SBF defrauded investors.

Puzzling: For the old-school gamer in you, Ohm's Quest is an electronic puzzle console inspired by escape rooms. See what it looks like.

The many levels of X: X, formerly Twitter, will test three tiers of its Premium service, and one of them may be ad-free. Get the scoop.

Ch-ch-ch-changes: Y Combinator tells us about its string of new lieutenants. Meet them.

Human nature, or is it?: Apparently, humans can't resist breaking AI with boobs and 9/11 memes. Read more.

Hacked: Lyca Mobile says its customer data was stolen during a cyberattack. Here's what happened.

3 . . . 2 . . . 1: United Launch Alliance sends up two Project Kuiper test satellites for Amazon. Watch the launch.

Risky business: Snap's AI chatbot draws scrutiny in the U.K. over kids' privacy concerns. Learn more.

Yum yum batteries: Breathe Battery Technologies bets that software will eat batteries too. Find out why. (TC+)

Pitch Deck Teardown: Check out what Haje had to say about Lupiya's $8.3 million Series A deck. (TC+)

Another AI app goes viral: EPIK hits No. 1 on the App Store for its yearbook photo feature. Say "cheese!"

Five more to take you into the weekend:

Wisk Aero starts flight testing electric autonomous aircraft in Los Angeles

Some gen AI vendors say they'll defend customers from IP lawsuits. Others, not so much

Abu Dhabi sovereign-wealth fund invests nearly $600M in Reliance Retail at $100B valuation

Bolt CEO discusses company moving on after SEC probe

Stoke Space raises $100M Series B as it looks to reach orbit by 2025

More top reads image

Image Credits: Bryce Durbin / TechCrunch

10 investors talk about the future of AI and what lies beyond the ChatGPT hype

Generative AI is the dynamo revving up tech's latest hype cycle, so Anna Heim launched a three-part investor survey exploring "the various parts of the AI puzzle, where startups have the highest chance of winning, and where open source might overtake closed source."

Here's who participated in part one:

  • Manish Singhal, founding partner, pi Ventures
  • Rudina Seseri, founder and managing partner, Glasswing Ventures
  • Lily Lyman, Chris Gardner, Richard Dulude and Brian Devaney of Underscore VC
  • Karin Klein, founding partner, Bloomberg Beta
  • Xavier Lazarus, partner, Elaia
  • Dr. Andre Retterath, partner, Earlybird Venture Capital
  • Matt Cohen, managing partner, Ripple Ventures

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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10 investors talk about the future of AI and what lies beyond the ChatGPT hype image

Image Credits: Barks_japan / Getty Images

On the pods

Today on Equity, we’re talking about the week's biggest startup and tech news with help from TC reporter extraordinaire and Found co-host Dominic-Madori Davis. We’re keeping you updated on the SBF trial — which, quite frankly, has us all riveted — and then diving into deals of the week from Rainforest, At One Ventures, Section 32 and Greylock. We will also discuss where venture funding has declined, and how Fearless Fund is being barred from awarding grants to Black women founders. Listen here.

And in case you missed it, this week on Chain Reaction, we teamed up with Equity co-host Alex Wilhelm for a special crossover episode.

Chain Reaction host Jacquelyn Melinek has been on the ground at the Southern District of New York courthouse, listening in to the highly anticipated criminal trial for Sam Bankman-Fried, former CEO of now-bankrupt crypto exchange FTX.

We dove deep into the nitty-gritty details, what transpired the first two days of Bankman-Fried's trial, as well as who the jurors are, the first two witnesses and who else is expected to speak. Listen here.

On the pods image

Image Credits: Bryce Durbin

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Thursday, October 5, 2023

Google vs. Apple: How the Pixel 8's technical specs compare to the iPhone 15

TechCrunch Newsletter
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The Daily Crunch logo

By Christine Hall

Thursday, October 05, 2023

Today's top story is the matchup you didn't know you've been longing for: How does the Pixel 8 stack up against the iPhone 15? It's a close second to the Elon Musk vs. Mark Zuckerberg MMA battle that probably will never come. Let’s see how they stack up.

Meanwhile, hackers are trying their darndest to spy on WhatsApp users. So it should come as no surprise that zero-days for hacking WhatsApp are now worth millions of dollars.

And an open source project focused on data orchestration attracted some venture capital love. Meet Kestra, a startup bringing all that data under one umbrella for complex workflows. Read more.

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Image Credits: Bryce Durbin / TechCrunch

More top reads

In peace: We share the legacy of Cowboy e-bikes pioneer Karim Slaoui, who passed away last week. Read more.

Park it: AI-powered parking platform Metropolis raises $1.7 billion to acquire SP Plus. Learn about what they get in SP Plus.

No more headlines: We all watched today as X, formerly known as Twitter, cut headlines from link previews. Here’s why. And X's leadership is at odds with just how many posts are being made on the social media site. One says 500 million, the other says 100 million to 200 million.

Under the microscope: AWS, Microsoft and Google face U.K. competition probe over cloud lock-in practices. Find out the government's beef.

Bridging the web3 gap: Phaver raises $7 million to help make onboarding to web3 social platforms easier. It's no longer daunting.

Nothing ordinary about this: Consumer brand accelerator SuperOrdinary is now valued at $800 million after securing $58 million in Series B capital. Learn about its indie brands.

Emerged: Gradient launches with $10 million in its corporate wallet to let companies deploy and fine-tune multiple large language models. Read more.

Sometimes it pays to have affluent customers: Indian fintech CRED's earnings surged 3.5x to $168 million amid an expansion of financial services targeting the country's wealthiest individuals. Learn how the company got there.

Bye, bye, bye: Nearly two years after its launch, Amazon decided to shutter its live radio app Amp. Here's why.

And that's the way the bike folds: Look out Brompton, Bastille is coming for you with a new folding bicycle. Read more.

Even more for your Thursday:

Was FTX an empire 'built on lies' or a startup that 'grew too quickly'? (TC+)

Section 32 closes on $525M fund, says there is 'a zone of commoditization that you have to avoid while investing in AI'

Cobre secures $13M to help CFOs in Colombia automate corporate payments

Alaska Airlines taps Up.Labs to build the next-generation of aviation startups

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Image Credits: Cowboy

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3 VCs weigh in on when to follow the hype cycle — and when to ignore it

Investors are open to bandwagon jumpers, but they're looking for startups with defensible moats and qualified teams that can become market leaders. So, when should founders ignore the hype, and when should they follow the crowd?

To get answers to these and other questions, Walter Thompson interviewed three early-stage investors at TechCrunch Disrupt 2023:

  • Sophia Amoruso, founder and general partner, Trust Fund
  • Katelin Holloway, founding partner, 776
  • Sarah Kunst, managing director, Cleo Capital

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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3 VCs weigh in on when to follow the hype cycle — and when to ignore it image

Image Credits: Mark Reinertson The Photo Group / Flickr under a CC BY 2.0 license. (Image has been modified)

On the pods

Today, we have a special episode for you: Equity teamed up with Chain Reaction to talk about the ongoing trial of former FTX CEO Sam Bankman-Fried. The rise of FTX and its later implosion rocked the crypto world when the formerly massive crypto exchange went under last year. In the aftermath, the company's executives have been charged with financial crimes. Many have pleaded guilty and are cooperating with the government. Sam Bankman-Fried is not. Listen here.

Read More

On the pods image

Image Credits: Bryce Durbin

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