Tuesday, October 17, 2023

Jio Financial’s lending, insurance offering puts another feather in Mukesh Ambani’s cap

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By Christine Hall

Tuesday, October 17, 2023

Today's top story is proof that billionaire Mukesh Ambani wants to touch more lives. His financial services firm Jio Financial has started to offer personal loans to salaried and self-employed individuals and offers a number of insurance coverage options. Get the scoop.

Meanwhile, Ray-Ban's new Meta sunglasses have "influencer" written all over them, according to my colleague Brian Heater, who tested them out. Here's why they are so cool.

And Microsoft shows us what happens when GPT-4 takes itself too seriously. There are some flaws.

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Image Credits: Dhiraj Singh / Bloomberg / Getty Images

More top reads

Manifesto makes us scratch our heads: Famed venture capitalist Marc Andreessen blew up social media this week when he crafted a 5,000-word blog post that has him opining on everything from colonizing outer space to bringing back Reaganomics. This left some of my colleagues perplexed and wondering why the billionaire is so bullish that technology will save us. Read for yourself.

There's always a catch: Amazon quietly rolls out support for passkeys but says keep that password handy just in case. Speaking of passkeys, WhatsApp is launching its own passkey support on Android.

Baby robot steps: Figure got its humanoid robot to walk for the camera. Check it out.

We've got the beat: AI-generating music app Riffusion turns viral success into $4 million in funding. Listen up.

More layoffs: The developer community site Stack Overflow cut 28% of its staff. This is why.

Is that a vape or a remote control?: Storz & Bickel announce the $448 Venty, its first new dry herb vaporizer in nearly 10 years. It's big.

Here's to the horn: Prove Identity is in unicorn territory after grabbing $40 million in new capital to expand in mobile-based authentication tech. Go ahead, verify it.

Link to your heart's content: Snapchat is now allowing websites to embed content. Here's how.

Fewer features: That's what the new Apple Pencil has. Granted, it costs less than previous models. Write that down.

Users go bye-bye: We have a pair of X stories for you today. In the first one, a new report claims that one year post-acquisition, the former Twitter's traffic and monthly active users are in decline. X's new plan to lure subscribers? Partnering with Paris Hilton on a custom icon. That's hot.

What once was lost, now is found: Invesco raises Swiggy's valuation to nearly $8 billion after it was slashed earlier this year. See how it grew.

Connecting the world one dollar at a time: Nova Credit lands $45 million to grow its cross-border and alternative data credit products. Here’s how it moves money.

Into orbit: K2 Space is building a power-rich future for space exploration based on the premise that bigger is better. Read more.

Even more for your Tuesday:

Capella Space to replace founder and CEO Payam Banazadeh

Give biotech a chance for the planet's sake, EU lawmakers urged

Trust & Safety Tycoon lets you simulate the most agonizing job in tech

Luxury EV maker Lucid misses the mark on deliveries

LeapFrog's new fund to double down on financial and healthcare sectors in Africa and Asia

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On the pods

This week on Found, we're bringing you a conversation with Hilary Mason from Hidden Door, an AI-driven narrative game engine. In this mini-episode, recorded in person at TechCrunch Disrupt, Dominic-Madori and Hilary get into how generative AI is changing online gaming, building a team of creatives, and fundraising in the gaming space. Listen here.

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Monday, October 16, 2023

Tech layoffs are back: LinkedIn to cut another 668 jobs, Flexport to shed 600

TechCrunch Newsletter
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By Christine Hall

Monday, October 16, 2023

Technology company layoffs continue, my fellow Daily Crunchers. In today's top story, LinkedIn confirms it will cut 668 jobs — this brings it up to 1,400 this year if you are keeping count — as the company leans into AI. Meanwhile, Flexport is getting its house in order since ousting its CEO. However, that restructuring is coming with some layoffs of about 20% of its workforce.

Meanwhile, General Catalyst and European early-stage fund La Famiglia came together to invest in European startups. Read how the partnership will work.

And if you were wondering if people cared about AI apps, a new study finds they do. Well, at least Mac users do — to the tune of 42% using AI apps daily. Get the scoop.

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Image Credits: Smith Collection/Gado / Getty Images

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More top reads

Now you can wear your favorite Spotify artist: The entertainment streaming service is launching a personalized in-app Merch Hub. Check it out.

It's an AI kind of day: Creative Force closes on $8.9 million to give e-commerce workflows an AI treatment. Marketing just got a little easier.

Seeding rounds: Startup valuations may be coming down, but Alex notes that seed investments are going the other way, leading him to ask: Will seed deals ever stop getting more expensive? (TC+)

X meets a fine: Australia fines X for failing to provide information about child abuse content. X left some questions blank.

More AI: YouTube gets new AI-powered ads that let brands target special cultural moments. Get to know Spotlight Moments.

All the tools in the palm of your hand: Live commerce startup TalkShopLive launches a new app for sellers to broadcast on mobile. See why this feature was a consistent ask by users.

Seeing is believing: Xpanceo, a deep tech startup, raises $40 million to focus on smart contact lenses. It's a computer, but in your eye.

This company is actually full of hot air: Urban Sky closes on a $9.75 million Series A to scale Earth-imaging operations using reusable balloons. Check out the view from up there.

Compliance is complex: Leucine, now with $7 million in new funding, is out to make drug manufacturing compliance less onerous. Here's how.

ByteDance means business: ByteDance's video editor CapCut targets businesses with AI ad scripts and AI-generated presenters. Meet CapCut for Business.

Data data everywhere: Observability startup Pantomath lands $14 million to automate data pipelines. Read more.

Weekend warriors you may have missed:

Where's the innovation in induction kitchens? (TC+)

How founders can cut through the noise and find events that are actually worth it (TC+)

How roboticists are thinking about generative AI

How generative AI is creeping into EV battery development

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Image Credits: Spotify

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