Friday, January 26, 2024

Tesla predicts muddy roads ahead for EV sales

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By Alex Wilhelm

Friday, January 26, 2024

Good morning and welcome to TechCrunch AM for Friday, January 26, 2024. Today we have a treat for you: India's first AI unicorn, the latest on Apple's slowly opening mobile OS, an insurtech acquisition, a new venture fund in Denmark, and news from Japan's lunar lander. To work! – Alex

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TechCrunch Top 3

  • UK mobile merger under scrutiny: The U.K. government is putting together a formal probe into the proposed merger between Vodafone and Three UK. If the deal went through, the U.K. would see its number of major mobile providers fall from four to three. Startups, the lesson here is that antitrust fervor is not merely a U.S.-based phenomenon, and large deals around the world are getting closer looks.
  • India mints first AI unicorn: It's fitting that India's first AI unicorn is also the fastest company in the country to ever reach a $1 billion valuation – AI startups are operating in a 2021 venture world. Krutrim, the startup in question, is building an LLM that is "trained on local Indian languages in addition to English," TechCrunch reports.
  • Fortnite, Epic Games Store coming to iOS: In Europe only, we hasten to add. To comply with the European Digital Markets Act, Apple will allow users of its mobile OS to install apps from outside of its in-house App Store. That means new app stores, albeit with heavy rules and fees attached to them. Have fun battle-royale-ing on the go, Europe.
TechCrunch Top 3 image

Image Credits: Peter Dazeley / Getty Images / Getty Images

Don't miss these

Troubled French insurtech Luko finds new home: Allianz Direct is buying the last remaining piece of Luko, a French startup that works in the home insurance business, for €4.3 million. For Luko, the deal marks the end of an ascent and fall that TechCrunch likened to a "roller-coaster ride" due to its ups and downs. 

OpenAI responds to Congressional Black Caucus: TechCrunch viewed a response sent by private AI company OpenAI to the Congressional Black Caucus, which said that it is working on building a more diverse board. In the wake of the 2023-era, OpenAI leadership fracas, the company's leadership became even more male and white. Given issues with AI tech involving explicit and implicit biases in some models, the question of diversity in oversight of new artificial intelligence products is material and pressing.

Say hello to a new Danish venture fund: Kost Capital is putting together a €25 million fund, backed in part by Danish sovereign fund EIFO for what it's worth. The firm wants to invest in businesses that may underpin the future of food. The timing of the fund could be auspicious, with TechCrunch writing that "food tech is having a moment in Europe" today.

Growth is not (always) enough: On the back of 90% growth in 2023, Veho is cutting 19% of its staff, or around 65 jobs. Certainly this is not the largest layoff we have seen in recent days, but the news does underscore that even startups that are posting quick revenue expansion are not immune from pressures to lower their cost basis. Veho works in the shipping space, including offering last-mile deliveries in dozens of markets in the United States, with a focus on the Northeast.

Bill Gates is excited by humanoid robots: There's an argument in the realm of robotics that, as we have built a world that works for human-shaped entities, human-shaped robots have a good shot at fitting into our daily lives. Bill Gates is a fan, it turns out, and has notes on several upcoming humanoid robots. Please, tech companies, we all want this. We hate doing dishes.

The Solana phone is booming? Making a new mobile platform is hard work. Just ask Microsoft – RIP Windows Phone. Making a new mobile platform that is also web3-ready? It turns out that might be possible. Solana Mobile's first handset sold out, and it has a second handset with even higher sales goals. But it might not be a super viable platform for decentralized apps until it can sell even more handsets, which might take until it gets a third-gen device into the market. Still, getting even that far is a rare feat for companies trying to build a new mobile platform.

Don't miss these image

Image Credits: Justin Sullivan / Getty Images

Before you go

Japan lands on the Moon: Executing a 'soft' landing on the Moon is so complicated that only five nations have ever managed the feat, a figure that now includes Japan. However, TechCrunch reports, issues during its lander's landing process led to the piece of hardware landing upside down. Sure, it's slightly amusing to imagine a lunar lander going all turtles on its final descent, but the recent Moon craze is likely good news for space exploration more generally, so I refuse to make any humorous comments. To the moon, literally!

Before you go image

Image Credits: The Japan Aerospace Exploration Agency

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Thursday, January 25, 2024

Microsoft adds more job cuts to the gaming industry

TechCrunch Newsletter
TechCrunch PM Logo

By Christine Hall

Thursday, January 25, 2024

Good afternoon and welcome to TechCrunch PM! Today we look at more layoffs — this time at Microsoft. Meanwhile, Pixel 8 Pro users can take their temperature, there's an update on Apple's App Store changes in the European Union, and we aren't surprised that kids are on TikTok more than YouTube.

Christine

 image

Image Credits: NurPhoto / Getty Images

TechCrunch PM Top 3

Microsoft lays off 1,900 employees: We just wrote about Riot Games cutting jobs and now the gaming industry layoffs continue. Over at Microsoft, the company is cutting 1,900 jobs at Activision Blizzard, just three months after Microsoft completed its $68.7 billion acquisition of the gaming company. Granted, redundant jobs are reduced after an acquisition, but the sting is still there.

That's hot: One of Google's new features for the Pixel 8 Pro is the ability to use the Thermometer app to measure body temperature. Yours or someone else's. The true test will be if you can use it on a squirmy baby.

Meet PayPal's new features: PayPal is giving some of its new updates the AI treatment for more personalization. One is a new CashPass cash-back offering called "Smart Receipts" for recommendations and enhanced checkout and guest experiences. There are also some Venmo enhancements for small businesses and a new offers platform for merchants.

TechCrunch PM Top 3 image

Image Credits: Google

More top reads

Mmm . . . the internet: When Amanda looked at mmm.page, she described it as "MySpace meets Linktree, except not really." The website-creating company describes itself as "Tumblr x Animal Crossing x Mii Plaza." Whichever one you think, they both agree that creating websites should be fun and easy.

One sweet ride: Pricey electric vehicles seem to be everywhere now, and the Porsche Macan EV is no exception. Not everyone is racing over to buy one, so this is most likely a test for Porsche to see if drivers will want a Macan and are willing to shell out more than the popular gas-powered version.

Weather junkies will love this: Apple's widget support cleared away the clouds for Weather Up's fully interactive app that will help you see if sunny days are ahead.

A kid's attention span: A new study examining the online habits of children aged 4 through 18 reports that across the globe, children spent an average of 112 minutes daily on TikTok's short video app in 2023, an increase from 107 minutes the year prior. While YouTube remains a kid favorite, they spent 60% more time on TikTok last year.

Here's how Apple is responding to the Digital Markets Act, and some are not pleased: While Apple prepares the iOS for changes related to the European Union’s Digital Markets Act, Epic Games CEO Tim Sweeney calls Apple's new App Store rules a case of "malicious compliance" filled with "junk fees."

File this under WTF: 23andMe is now saying hackers were actually breaking into its system for five months before the genetic testing company caught on.

More mmm, depending on your taste: Plant-based "meat" company Chunk Foods gobbled up some more venture capital and a new partnership as it starts to make its mark in Latin America.

ICYMI: The Russia-linked hacking group Midnight Blizzard has struck again. Hewlett Packard Enterprise said its cloud-based email system was compromised by the group, which is also being blamed for a similar breach on Microsoft's corporate network.

Before you go: Learn what OpenAI is doing to its models and pricing and more about the new government probe into autonomous driving company Cruise related to a pedestrian crash that happened last October.

More top reads image

Image Credits: mmm.page

On the pods

On today’s Chain Reaction, Jacquelyn interviewed Anatoly Yakovenko, co-founder of Solana Labs, the technology company that aims to help grow the ecosystem for the layer-1 blockchain Solana. The conversation focused on Solana Mobile and its flagship web3 Android smartphone, Saga, which sold out in mid-December, as well as its new phone, Chapter 2 — which was announced last week.

Anatoly and Jacquelyn discussed the long road to selling out Saga, how important rewards and developers are and the nitty-gritty details for Chapter 2. They also dove into the company's strategy and long-term mission of going up against Google and Apple app stores and how long it may take for Solana Mobile to break even. Listen here.

On the pods image

Image Credits: Bryce Durbin

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