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Happy Friday! We don’t know about you, but we’re both ready for some R&R after getting over the wall of deeply disgusting texts from the Musk/Twitter process. We hope you get some this weekend too.

Tesla is holding its second AI Day this afternoon. Last year was great, and we have some predictions for what’s to come today. — Christine and Hadje

TechCrunch’s Top 3

  • Under attack: Microsoft has confirmed that it is “aware” of some attacks on its Exchange server. Carly remains on top of the story and reports that there is no “immediate solution.”
  • Looking at this sweet capital: Manish it is reported that Uniswap Labs, a decentralized exchange, is pursuing over $100 million in new funding.
  • Stream: YouTube TV offers a new a la carte option that allows subscribers to buy stand-alone networks without subscribing to the full range of channels on their basic plan, Lauren reports.

Startups and VCs

When insurance company Metromile went public through a special purpose acquisition company (SPAC) last February, it was valued at more than $1 billion. A year and five months later, Lemonade acquired the company for less than $145 million. Yet things are not as bleak as they may seem, Anna reports.

This year, 40% of the world’s population will play games, with total spending approaching $200 billion. web3 vendors want a piece of this huge market, Rita reports. She writes that criticisms of the first generation of crypto games are well documented, so the question for developers now is what decentralized games should look like.

Let’s do a few more, shall we? Come on then:

8 Investors Assess the State of Insurtech in Q3 2022

Image Credits: Varchi (opens in a new window) / Getty Images

Some services are so in demand that they can insulate their providers from the vagaries of the market. During an economic downturn, consumers don’t cut back on pet food or toilet paper. Likewise, everyone needs some form of insurance.

Between 2016 and 2022, insurtech startups received about $43 billion in funding, and despite the decline, most of the investors reporting Anna Heim recent respondents are still positive about the outlook for the sector:

  • Marta Notaras, General Partner, Brewer Lane Ventures
  • David Wexler, Principal, OMERS Ventures
  • Stephen Brittain and Rob Lumley, Directors and Co-Founders, Insurtech Gateway
  • Florian Graio, Founding Partner,
  • Clarice Lam, Associate, NewAlpha Asset Management
  • Hélène Falchier, Partner, Portage Ventures
  • Adam Blumenkranz, Partner, Distributed Ventures

“We’re just seeing a reality check,” Wexler said. “Unfortunately, there are many companies that shouldn’t have raised as much as they did, or perhaps don’t have sustainable business models. These companies will struggle to survive.

Three more from the TC+ team:

TechCrunch+ is our membership program that helps founders and startup teams get ahead of the curve. You can register here. Use code “DC” for 15% off annual subscription!

Big Tech Inc.

SoftBank has been doing some realignment of company valuations lately, but the latest correction is happening with its own company. Kate reports that SoftBank’s Vision Fund is cutting 30% of its workforce, even as it considers a third fund.

Here are five more for you:

Daily Crunch: It’s AI day for Tesla, but we’re here for the cringey texts 

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