Tuesday, August 23, 2022

Former Apple employee pleads guilty to stealing autonomous vehicle design details

TechCrunch Newsletter
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By Christine Hall and Haje Jan Kamps

Tuesday, August 23, 2022

Goood [time of day] dear [name]. You know what we're psyched about? The agenda for TC Disrupt just dropped, and it's going to be an absolute corker of an event. Aaaah. Check out what's happening on our four (Count 'em! Four!) stages, and check out the incredible lineup of speakers. Then get your tickets and book your flights — it's gonna be awesome. See you there! — Christine and Haje

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Image Credits: Bryce Durbin / TechCrunch

The TechCrunch Top 3

  • Facetime: While Mark Zuckerberg is promising better metaverse avatars, Estonia-based Ready Player Me is delivering. Andreessen Horowitz led the company's recent $56 million raise into the company that is building dynamic, animated game avatars for virtual worlds, Ingrid writes.
  • Driving away with secrets: Rita wrote a juicy one about a former Apple employee who left with more than just best wishes from his ex-colleagues. Xiaolang Zhang pleaded guilty this week to stealing confidential driving information from the tech giant and then going to work for an electric vehicle company.
  • Light it up: Over at TechCrunch+, Tim reports on U.S. senator Joe Manchin's ultimatum to car manufacturers that they either move more of their lithium-ion battery supply chain out of China or give up on some tax incentives that are part of the Inflation Reduction Act. Tim writes that this could backfire or that "the United States, at long last, is set to become a key player in the battery industry."

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Startups and VC

The world has gotten a lot more serious about privacy and data protection, but in many cases business models that rely on personalization of one kind or another have struggled to keep up. Today, a startup out of Paris called Ravel Technologies is emerging from stealth with an approach it believes could be the missing link between those two, Ingrid reports.

Though it's typically difficult for new consumer social apps to gain widespread adoption, 9count's apps (friend-finder Wink and dating app Summer) have already seen some early traction — and investors have taken notice, investing an additional $28 million, writes Sarah.

Five more we enjoyed today:

Should founders announce down rounds? This PR expert says you have nothing to hide

If your home was damaged in an earthquake, would you feel embarrassed?

Similarly, founders need not feel squeamish about accepting funding that lowers their valuation, advises Kate Johnson, VP of PR at BLASTmedia.

"Rather than pretending a lower valuation didn't happen, switch your mindset," she writes.

"You have nothing to hide, and in terms of PR, no news is not good news. So, focus on adjusting your expectations."

(TechCrunch+ is our membership program, which helps founders and startup teams get ahead. You can sign up here.)

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Should founders announce down rounds? This PR expert says you have nothing to hide image

Image Credits: Ysr Dora / Getty Images

Big Tech Inc.

After reading about Apple's ex-employee, we have more ex-employees who were in the news today, including Twitter's former security chief, Peiter "Mudge" Zatko, who blew the whistle on the social media giant's alleged mismanagement of cybersecurity. That one was by Carly, but the team got to work on several different angles, and here were the fruits of their labor:

Meanwhile, in streaming land, Lauren writes about both "Thor: Love and Thunder," coming to Disney+ next month, and HBO's "House of the Dragon" series premiere, which snagged 10 million viewers. Also, look out for Netflix's version of the popular "Heads Up" game, Aisha reports.

Read more stories on TechCrunch.com

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Monday, August 22, 2022

Collectible trading card marketplace TCGplayer sells to eBay for $295M

TechCrunch Newsletter
TechCrunch logo
The Daily Crunch logo

By Christine Hall and Haje Jan Kamps

Monday, August 22, 2022

Hello, Crunch Bunch!

Have you remembered to drink water today? You can't live off coffee and Red Bull alone. Look after yourself, you good-looking but dehydrated startup nerds. We care about you, and we want you to thrive!

Okay, with that out of the way, let's dive into the news! — Christine and Haje

 image

Image Credits: Getty Images

The TechCrunch Top 3

  • What are you collecting?: Collectibles, like trading cards, are big business, and eBay got a big boost in this area with its new move to acquire TCGplayer, a trading card marketplace, for up to $295 million, Aisha reports. She writes, "The company's latest acquisition shows that eBay sees increased potential in trading cards, as the company notes that the agreement offers a way for it to 'maintain its position as a desirable platform for trading card sellers.'"
  • 'Surge'ing ahead: Jagmeet has the skinny on the 15 Indian and Southeast Asian companies selected for Sequoia's seventh Surge cohort. 
  • Not sure if the 'Flow' is going uphill or down: We all know by now that Andreessen Horowitz gave Adam Neumann $350 million for his new endeavor, Flow, which is buying up rental units in an effort to create a community effect. Tim, Dominic-Madori and Amanda provide three different takes on why both venture capitalist and founders may have "misread America's housing problems."

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Startups and VC

There was a bunch of news last week about ex-WeWork boss Adam Neumann raising more money to do whatever he does these days — but Connie brings us a story about how to do it differently in "The Anti–Adam Neumann."

Accelerators can be a little hit or miss, but Haje took a closer look at Miko, which went through the Disney tech accelerator, and this week announced that it is launching in 140 countries with Disney and Pixar content. It's a dream partnership for any startup, so it's fun to see it work out for them.

Nourish thine mind:

4 ways founders can amplify revenue during hard times

Turning one-time customers into repeat buyers takes on heightened importance during a downturn. Acquiring a new user is a heavy lift, but finding ways to reduce friction is an easy way to boost a customer’s lifetime value.

One study found that password difficulties cause nearly 60% of consumers to abandon shopping carts before completing a purchase.

If you’re trying to recalibrate online sales, this TC+ guest post contains formulas for calculating lost lifetime value (LTV) due to churn on a monthly and annual basis. “In times of recession, you have to make things easier, not more difficult,” says Ari Jacoby, CEO and co-founder of Deduce.

(TechCrunch+ is our membership program, which helps founders and startup teams get ahead. You can sign up here.)

Read More

4 ways founders can amplify revenue during hard times image

Image Credits: Stewart Waller / Getty Images

Big Tech Inc.

It just so happened that a trio of self-driving news hit around the same time, and Rebecca was there to deliver the goods. So at the same time that Tesla says it will increase the cost of its full self-driving beta software to $15,000 in North America, YouTube pulled a pair of videos off its site where Tesla drivers were showing off the controversial software with their children in the driver's seat. Meanwhile, over in the U.K., the government there said that self-driving manufacturers, not drivers themselves, will be liable for accidents when the car is in autonomous mode.

Read more stories on TechCrunch.com

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