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Welcome to Startups Weekly, a new human to this week’s startup news and trends. To get it in your inbox, subscribe here.
“You can get a significant percentage of the market in times of economic downturn by simply staying alive,” startup accelerator Y Combinator wrote in an internal email to its founders this week. The board was one of ten topics in a memo aimed at helping businesses navigate. the overwhelming generation of economic recession. Other notable quotes come with “they’re expecting the worst” and “no one can expect how bad the economy will go, but things don’t look good. “
The email is an update on the temperament from just a few weeks ago, when many Y Combinator startups, many of which have already increased the venture capital budget, were introduced to the public at Demo Day. Startups were the first to get the new popular Y Combinator. Check for $500,000 and aggressively focused on foreign opportunities. Now, YC says that “this slowdown will have a disproportionate effect on foreign companies,” among other things.
YC advises founders to “plan for the worst” amid market dismantling
While Y Combinator’s memo was not intended to be public, it is not the only one to publish a Black Swan memo in preparation for what will happen. TechCrunch received a series of ratings that venture capital firms sent to holding corporations about market recession. Some were hopeful, some were undeniable, and some were as undeniable a control of the environment as: Can you tell us your ARR and your cash in writing?Please?
I explored this topic in my latest TechCrunch column, “It’s Not That Old (and Investors Admit It). “Subscribe to Equity for a podcast edition of this verbal exchange next week as well!In the rest of this newsletter, we’re going to cover more layoffs at tech companies, ghost appearances of up to $44 billion, and Swyft startups. As always, you can send me this newsletter to a friend or follow me on Twitter or my blog.
The crazy month of layoffs in May continues. Amanda and I wrote a third tranche of generation layoffs that impacted all industries and stages. Employees at Section4, Carvana, DataRobot, Mural, Robinhood, On Deck, Thrasio, MainStreet and Netflix were affected by the reduction. Some giant corporations are implementing hiring freezes. , like Twitter and Meta, or pronouncing an update on strategy, like Uber.
Here’s why it’s important: At press time, workers at Picsart, Netflix, Cars24 and Skillz have been hit by this week’s wave of cuts. that corporations can start making more than one layoff circular in the same month (cough, cough, Netflix).
How fast are startup layoffs accelerating?
Tech Workers Face a Tough Week of Multi-Level Layoffs
Coinbase Returns to Its Hiring Plans, Bringing Up Crypto Market Turbulence
Image credits: wildpixel (opens in a new window) / Getty Images
At Equity this week, his favorite podcast trio talked about unicorn vibes, real estate generation games, and, as you can see from the title, the latest in Elon Musk’s Twitter story. to stick to the timeline.
Here’s why it’s important: Our weekly tech news roundup is a smart way to keep up with the big news that’s shaping this crazy landscape and stay on top of deals that would possibly have slipped off your radar. In this case, we spend most of our time deciding why Elon Musk masked the $44 billion quote he made with Twitter. The answer, not so complicated, turns out that he is more interested in hunting than in handcuffs.
After recording our episode, more news about Elon Musk emerged from a Business Insider investigation. Apparently, Elon Musk exposed himself to a SpaceX flight attendant and showed her his sex. The company paid $250,000 for his silence, Business Insider reports. Musk has since denied the harassment allegations. Read the full story here.
Image credits: Westend61/Getty Images
Swyft Cities! The Mountain View-based company, created through Google alumni, wants to transport and offer a vehicle at a lower cost per kilometer with a reduced carbon footprint. The solution resembles an autonomous, lightweight, fixed-wire vehicle. The startup is the winner of the TechCrunch Sessions: Mobility 2022 launch, with Beyond Aero as a finalist.
Here’s why it’s important: Swyft has ticked a lot of “we don’t hesitate” boxes. Along with an MVP and a first visitor deal, the company established an R center.
Belong Gets $80 Million to Ease the Pain of Rental Property Management
Forerunner, Bezos back Arrived, a startup that we should buy single-family rentals for “as little as $100”
Kolkata Chai’s next cut includes venture capital funding
One round, one acquisition and profits later, Bravado’s sales network needs you to know it’s growing
Thank you to everyone who joined us at TechCrunch Mobility this year. It was great, and I’m encouraged by the power he had here on and off stage.
Obviously, the exhibition will have to continue. I’m helping to plan techCrunch’s level at Disrupt this year, apply here to be considered as, and TechCrunch Climate next month just announced a speaker I’d possibly recognize.
If you missed last week’s newsletter, check it out: “When Your Startup’s Big Project Is About to Be Reversed. “The most sensible thing was that we had Hey Jane’s co-founder and CEO, Kiki Freedman at Equity, to continue the verbal exchange. about who speaks loudest in the world of virtual health.
Congratulations to those glorious colleagues with whom I have the honour to work. Follow them all, then create an account and stick to them again.
We’ve read (flipped through) metaverse manifesto so you don’t have to. . .
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The youngest Blockchain billionaire handles the world’s cryptocurrency
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