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Bad News for EdTech Giant Byju’s
In a recent research note, HSBC estimates that Indian education technology giant Byju’s is now worth nothing, even though it was once valued at a staggering $22 billion. This significant write-down is one of the most dramatic startup declines in recent memory, following a tumultuous year for what was once considered India’s most valuable startup.
Lawsuits and Eviction for AI Mortgage Startup LoanSnap
After securing $100 million in funding, AI mortgage startup LoanSnap is now facing a barrage of lawsuits and has been evicted from its main office. The company’s creditors, including Wells Fargo, have alleged that LoanSnap owes them a total of over $2 million. Employees who spoke to TechCrunch are concerned about the company’s future.
Controversy Surrounding VC Fund Fearless Fund
An appeals court has ruled that the venture capital fund Fearless Fund is not allowed to issue grants to Black women business owners, sparking outrage among diversity advocates in the startup and venture ecosystem. Fearless Fund CEO Arian Simone has released a statement stating that the foundation is determined to continue fighting the lawsuit.
What to Expect at Apple’s WWDC 2024
Apple’s highly anticipated annual developer conference, WWDC, kicks off on June 10 at 10 a.m. PT. From the debut of iOS 18 to the introduction of macOS 15 and plenty of discussions about AI, there’s a lot in store for attendees. TechCrunch gives a rundown of what to expect.
Rivian’s Clear Path to Success
Electric vehicle maker Rivian recently announced updated versions of its first two consumer vehicles. This is the first time the company’s future has been so clear since it came out of stealth mode in 2018.
Valuation Cut for Carta
TechCrunch has learned that Carta, a financial technology company, is planning a secondary sale that would value the company at $2 billion. This is a dramatic decrease from its previous valuation of $8.5 billion.
Anti-AI App Gains Popularity Among Artists
Cara, a social media app for creatives that opposes the use of AI, has skyrocketed to the top of the Apple App Store this week as artists become increasingly frustrated with Meta’s AI training policies.
Robinhood Dives Deeper into Crypto
Stock-trading app Robinhood is expanding its reach into the world of cryptocurrency with the acquisition of crypto exchange Bitstamp. The company expects the final value of the transaction to be around $200 million.
Recycling Robots at Apple
Aiming to make its supply chain process carbon neutral by 2030, Apple has been working to create more efficient recycling robots. TechCrunch takes a closer look at the company’s efforts during a visit to its manufacturing facilities.
No Skipping Ads on Instagram
Social media platform Instagram has confirmed testing a new feature that prevents users from browsing until they’ve watched a full, unskippable ad. The move has sparked criticism.
Technical Issues at Popular Children’s YouTuber’s Cameo Fundraiser
A Cameo fundraiser hosted by popular children’s YouTuber Ms. Rachel encountered issues when the company’s policy gave fans credits instead of the video they were promised. This has caused frustration among fans.
Donald Trump Joins TikTok
In a surprising move, former President Donald Trump has joined the popular short-form video app TikTok, signaling a change of heart since he previously attempted to ban the platform.
Another Pivot for Ride-Hailing Company Revel
Ride-hailing company Revel has shifted their focus yet again, laying off over 1,000 staff drivers in order to embrace a gig worker model similar to that of Lyft and Uber.
A Modern Update on the Walkie-Talkie
French startup ten ten has made waves with their walkie-talkie app that allows teens to send voice messages to their friends, even when their phone is locked.
Analysis: Can Siri Be Saved with Generative AI?
At this year’s WWDC, Apple is expected to announce a partnership with OpenAI and has larger goals of integrating generative AI into Siri. But as Brian Heater reports, Siri has not lived up to the revolution that was promised 13 years ago and Apple may be falling behind OpenAI.
The Favorite Numbers of AI Models
Several open text-analyzing models were recently tested to see how they would answer questions related to LGBTQ+ rights, surrogacy and social welfare. The results showed that these models tend to have a “favorite” number, indicating potential biases in the data used to train them.
The Journey of a VC to Becoming a Unicorn Magnet
Venture capitalist Wesley Chan has invested in over 20 unicorns such as Canva, Flexport, and Robinhood in his career. In a conversation with Christine Hall, Chan attributes his success to his hard-working immigrant family and a Craigslist job washing lab beakers.
The Impact of AI Bias
In a recent study, different open text-analyzing models were tested to see how they would respond to questions about LGBTQ+ rights, social welfare, surrogacy, and more. The results showed that these models often answered questions inconsistently, revealing potential biases in the data used to train them.
