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Hello and welcome to Extra Crunch for August 5, 2021. What goes up must come down. Mainly. That’s the lesson from Robinhood’s actions this week. Yesterday it shot higher. And today it has fallen drastically. Something, something sucks. Regardless, we’ve got great news from Apple, Facebook, a host of startups, and even some drones for you today.
A quick reminder that tomorrow is the last day for Advance interruption tickets. Be there or be a big lame! We are also excited to announce that TechCrunch is launching another newsletter! This week in Sarah Perez applications launches this Saturday morning, August 7, and is the place you should go to find out all the news about your application. Make sure to sign up here. – Alex
TechCrunch’s Top 3
- Apple to scan iPhones for abusive content involving children: Apple’s privacy push is bumping into its efforts to limit the sharing of known child sexual abuse material. His plan, which has yet to be implemented, will work at the device level to “identify whether a user uploads known child abuse images to iCloud without decrypting the images until a threshold is reached and a sequence of checks to verify the content is cleared. “. . “
- When a startup should leave a market: Following the news that Deliveroo could exit the Spanish market, TechCrunch wanted to know more about when a startup should leave a particular city or country to its competitors. So we got together some smart venture capitalists and started asking questions. The short answer is that you want gold and silver medals to build a unicorn, not bronze.
- Facebook redesigns its privacy settings: And TechCrunch’s Devin Coldeway isn’t impressed, writing that Facebook has “taken the ‘privacy settings’ setting and maliciously dispersed it among the other categories.” If you are a Facebook user, it is always a good time to check your privacy settings on the social platform. It may take a little longer now.
Startups / VC
We have a host of starter stories below, but to get started, have a little Brian Heater’s latest drone story. It is quite tasty. Heater dug into the Deposit Drone space – a somewhat natural environment for technology as large storage buildings are not bothered by hum and the boxes in those buildings are often barcoded and stacked vertically.
Now, our usual summary:
- Quora launches subscriptions to access certain answers: Creators who love to answer questions, Quora wants your attention. The long-running question and answer site Quora is implementing Quora +, natch, which will cost $ 5 per month and will allow access to content that creators decide should cost money to access.
- When is a startup going to build the hub of all of our digital content subscriptions so we can stop having to use password managers for everything? Someone build that, please.
- The grants raise $ 4 million to boost small PE funds: This is cool. Allocations has developed technology that enables fund managers to rapidly generate new private equity and SPV funds. And the startup’s technology handles boring things like paperwork and capital calls. The thesis here is that there will be many smaller PE funds in the future. The solo GP move indicates that the allocations could be showing the correct money tree.
- Ad astra for Astra: That’s the news from space launch vehicle company Astra, which is targeting August 27 for its first commercial launch. Sure, Boeing is struggling to get its rocket sky high, but seeing Astra go after more popular launch systems is good news. More competitors, more rockets in time. And then you and I can go to space.
- OffLimits raises $ 2.3 million for healthy cereals: Here in America we like our sweet breakfasts. That means our cereals are often loaded with sugar and thus kill us and make us smile. OffLimits is making cereal that is healthy (ouch) but tasty, as well as “organic, vegan [and] gluten-free. “That sounds less fun than Cap’n Crunch, but since I’d like to avoid an eventual limb amputation, maybe the startup is onto something.
- From the world of edtech, Natasha Mascarenhas from TechCrunch have a great piece today looking at two companies – Coderhouse Y Crehana – who are working in the vocational rehabilitation space in Latin America. Rehabilitation, teaching new tricks to workers already in the market, is a great market. And Latin America is becoming quite the key market for educational technology, so make sure you don’t miss out on this one.
- Cent raises 300,000,000 cents to help make sense of the NFTs: Remember when @Jack sold his first tweet as NFT? The platform that made that transaction possible just raised $ 3 million. Or as we pointed out before, 300 million cents. Regardless of how you prefer to write the monetary sums: 12,000,000 quarters! – Cent’s latest deal indicates that venture capitalists are still more than willing to bet on NFTs in particular, and the crypto economy in general.
TechCrunch’s Ron Miller covered a Huge $ 125 million Series E for Bluecore today. The new capital made the ecommerce personalization platform the world’s newest unicorn. At least for a few hours. I asked Miller why he covered the round. This is what he said:
Bluecore is part of the omnichannel personalization market. It’s an area that thrived during the pandemic as more commerce shifted online and it became more imperative to deliver more targeted messages. The round is a sign that investors see the value in this and are willing to stake a lot of money for companies like Bluecore to be successful in the long term.
There, a look behind the curtain!
A plan to build a great startup founding team
Assembling a startup team is more difficult than assembling 10 IKEA sideboards, and the stakes are much higher.
Assuming that 90% of startups will fail and the most successful ones will take an average of six years to go public, founders must make careful decisions about who to invite to join the founding team.
Is a star engineer a great choice? Or a terrible choice? Should the person in your product be stubborn or a team player? Are you the best choice for CEO?
ThoughtSpot CEO Sudheesh Nair shared some of his thoughts on building a strong leadership team and wrote a comprehensive checklist for entrepreneurs who are building a team. Your initial advice?
“Investors love founder-CEOs, and founders are often fantastic candidates for this position. But not everyone can do it well, and more importantly, not everyone wants to do it. “
(Extra Crunch is our membership program, helping founders and startup teams get ahead. You can sign up here.)
Big Tech Inc.
- Twitter Spaces adds co-hosting capabilities: Now you can enlist your friends to help you manage your next live audio conversation on Twitter. Yes, Spaces, Big Tweet’s chat room tool, is expanding its feature set. You can now have one host, two co-hosts, and up to 10 speakers at the same time. Just don’t, because that would be more noise than signal.
- Qualcomm wants to buy Veoneer: Qualcomm is offering $ 800 million more than Magna International offered Swedish automotive technology company Veoneer. The chip company is willing to shell out $ 4.6 billion for the asset. Why? Because Veoneer builds “advanced driver assistance systems, vehicle hardware and software for decision making”. So consider this a long-term bet from Qualcomm that autonomous driving technology will be everywhere. Finally.
- Automakers want more money from the government: Cars are going electric and the US government has big goals to increase its domestic market share and production volume. Automakers say, hey, how about a little help? To that end, a group of automotive original equipment manufacturers (OEMs) are calling for the “timely implementation of the full set of electrification policies committed to by the Administration in the Build Back Better Plan.” That means money in the form of consumer incentives and a collection network.
- Which feels a bit strange given that GM is making lots of money right now. Surely you can deploy some of that capital? I also heard that money is cheap right now.
- Google updates its Nest line: Finally for the day, Google’s Nest division has updates ready for its Nest line of cameras and doorbells. Nest is a dark horse within Google, since it is a hardware division in what is almost entirely a software business. Still, the new hardware looks pretty good.
TechCrunch Experts: Growth Marketing
TechCrunch wants you to refer growth marketers with experience in SEO, social media, content writing, and more! If you are a growth marketer, skip this poll together with your clients; we’d like to know why they loved working with you.
If you’re curious about how these polls are shaping our coverage, check out this interview Miranda Halpern did with Ward van Gasteren, founder of Grow with Ward, “Which person should you hire: a growth hacker or a digital marketer?“