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Friday, May 6 is here. The only important thing about this is the “Friday” part – and we are eager and curious to see what this weekend has prepared for us, as this week many of our colleagues used swear words in their reports, for example in this report from Natasha and Amanda describing all the technical cuts we saw this week.
Meanwhile at TechCrunch Slack today, Amandaafter some repulsion with minimal contextasked: “Ronare you implying that Britney Spears did not create more jobs in America on her own? “We will soon have more analyzes of the national labor market.” Christine and Hi
TechCrunch Top 3
- Coinbase NFT is something like NO: The Coinbase NFT market opened to the public this week, and unlike Apple’s entry line on the first day of a new iPhone, not as many users flock to the service as the company might expect. Maybe we see some NFT fatigue. You can judge for yourself as Jacqueline communicates some expert views on what the problem might be – and whether there is anything that can solve it.
- We have a ticket to ride, but we may have missed the bike: Peloton seems to be turning its red knob to the left to get the company back on track, Brian reports. In the new report from The Wall Street Journalthe home bike company, which was useful to us when we couldn’t go to the gym in 2020, has started experiencing some difficulties, but is trying to adjust the exchange rate by eventually selling a 20% stake.
- Part of the puzzle is missing: When you read something that says, “Simone Gierz, the former queen of YouTube’s crappy robots, didn’t give up her crown enough to outgrow it,” you continue. What follows is a delightful discussion that Brian had with Giertz about how her collection of Yetch products came about (you have to read it to find out what it is). The title shows what one of these products is.
Startup and VC
In what should be one of our favorite TechCrunch articles in recent memories, Brian joins Tony Fadel – The man behind the iPod, iPhone and Nest Thermostat – in his garage to see what prototypes and curiosities the longtime product maestro has. This is a deeply fascinating tour of the products, which could be a must-read for all fans of gadgets.
We also liked this piece from Carly discuss whether you should delete your period tracking applications if Roe v. Wade is a thing of the past, pointing out that many application developers are already sharing details with third parties. “It is unlikely that the sensitive data you share with your cycle tracking application will end up in the hands of those who want to ban abortion,” she wrote. “That doesn’t mean these tools don’t have big privacy issues.”
Lots of subtle musical puns and great stories:
- Escaped chain, never returns: The NFT ecosystem continues to evolve, but most of the volume is still moving through the centralized halls of the NFT OpenSea market, leaving crypto VCs eager to find new channels. Haun Ventures is betting $ 50 million on Zora Labs.
- Old MacDonald had a farmand it’s high time to get better on the planet: Tomorrow Farms is loading a sustainable food train with ingredients to turn the main closet and refrigerator products we know now into foods that are better for us and better for animals and the planet.
- Then I fell in love with the tax leader: MainStreet, a startup that helps other startups uncover tax credits that were valued at $ 500 million last year, has cut about 30 percent of its staff.
- I want you back – I want you back forever: Giant metals and fossil fuels giant Glencore is pumping $ 200 million into the Li-Cycle battery recycling plant as part of a larger, symbiotic supply agreement between the two companies.
- Don’t call it a return; it is already dawn: In the meantime, on our subscription site TC +, Alex and Anna concluded that the delay in the endeavor was not is coming – He’s already here.
6 places where investors look for problems when raising funds
According to Bill Petty, Tercera’s partner, these are the six questions investors are likely to ask themselves as they conduct due diligence:
- How is your historical presentation of the business?
- How do you think and plan for growth?
- What is the breakdown of ownership?
- Who are your key customers and what is the nature of the work you do for them?
- How do you run a business? What is your depletion, usage, billing rates, etc.?
- Are there any outstanding risks?
If you can’t answer these questions, you’re probably not ready to raise money. Investors have higher expectations of friends and family who may have helped you get here.
“The difference is between inviting a friend over for dinner and getting ready for an open house,” says Petty.
“With a friend, you can arrange and put a few things in the closet. If you have buyers who come to look around, they will open this closet.
(TechCrunch + is our membership program that helps founders and startups move forward. You can sign up here.)
Big Tech Inc.
Since it’s the weekend, let’s start with a little driving time: Chinese electric vehicle company Nio enters a parking lot on the Singapore Stock Exchange. The company is said to be looking for a secondary listing of its common Class A shares to match Hong Kong’s, as the company is awaiting news on whether its shares will be removed from the New York Stock Exchange. Lucid, the maker of the luxury sedan Air, meanwhile, said demand was so good that it would raise the prices of its range of vehicles.
Regulators, install: The United Kingdom is fighting against what it sees as an unfair advantage for Big Tech, and Natasha has read all the long documents about some new regulations, so you don’t have to do that. tl; dr – the government sets some rules for large technology companies that it believes will be needed to increase competition and allow users to more easily and safely do things like switch between Android and iOS, switch accounts in social media without losing data (oh!) and have more control over who has access to their data.
In the meantime:
- I can’t stop (it won’t stop) the rhythm stopped: Spotify Stations, the lightweight streaming listening app that offers easy access to select playlists, shuts down on May 16th.
- Causing commotion: And in case you missed it yesterday to help repel the TikTok threat, Meta announced this week that it will now be handing out additional bonuses to Reels creators who post original content on Facebook.
Daily Crunch: Fairly stagnant since April launch, Coinbase NFT sales volume is under $700K