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For my column this hebdomad , I told the story of howan ex - confrere was impersonated by an AI - power spambotand almost tricked me . It a nutshell : AI is often used for good , but it is progressively used for villainous use as well . Of course , AI - powered spam is going to get really interesting , really tight : Some of the generative AI are good enough to authorize as humans . So , what happens when every junk e-mail message is customized to you , and different from every other spam message ? thing are about to get really bad — before they hopefully get better .
Let me take you on a tour of the highlighting and lowlights of startup man over the preceding week .
Layoffs are back
Last calendar month , Alex write thattech layoff were pretty much a thing of the past times . Should n’t have enunciate that , buddy , you jinxed it .
Despite signs of economical recovery and predictions of avoid a recess , technical school companies go on to pose off employee . In October , Nokia announced it was laying off 14,000 employees following a quarter that saw profits drop by 69 % , and other major tech companionship like Qualcomm , Qualtrics , and LinkedIn also announced substantial layoffs . Experts suggest that while the economy is ameliorate , the recuperation process is slow , leading many companies to groom for a longer period of economic sluggishness . Moreover , a faulting in investor mentality from growth to efficiency has leave to monetary value - cutting measures , include layoff . These vogue , compound with tight purchasing budget and slower sales cycles , could go forward to touch the technical school sector into 2024 . Ron has the full skinny on TC+ at “ What ’s behind the fresh round of tech layoffs ? ”
Product Hunt slashes staff : Product Hunt , a uncovering internet site for startups , apps , and technical school tools , haslaid off some 60 % of its team , including character in design , product , and sales . The cuts were made for “ strategic reasons , ” Sarah reports .
The stack overfloweth : Stack Overflow , a developer community site owned by Prosus , has herald a 28 % decrease in its manpower as part of its crusade toward gainfulness . The company did not divulge the accurate bit of bear on employees . It seems likeAI may be the culprit , Ivan writes .
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Do n’t lose our comprehensive template : The technical school industry has face a significant reverse in 2023 , with job departure exceeding 240,000 , a 50 % step-up from the previous year . Major tech heavyweight like Google , Amazon , Microsoft , Yahoo , Meta , and Zoom , along with numerous startups , have denote significant workforce decrease . We haveour full guide here .
Transportation terror and triumphs
The Rebelle Rally 2023 , a 2,120 - klick off - route and pilotage contender for women , has become a testing ground for stock maker vehicles , including electric vehicles . Out of the 65 team that competed in the Rally ’s eighth annual effect , 10 were electrified vehicles , including four Rivian R1 T pickup , marking a substantial entry of EVs into this traditionally non - tech event . A Rivian team clinch first place in the 4×4 class , markingthe first metre an all - electric vehicle topped the podium .
Meanwhile , Tesla released its Q3 earnings report . And it was n’t super somewhat : The report designate a fall in gross perimeter to 17.9 % , down from 25.1 % last twelvemonth . That causeda 44 % lucre drop(yikes ) . Tesla ’s long - awaited Cybertruck isset to start initial deliveries , and Elon Musk discourage thatit will take 18 months for the pickup arm to become profitable .
It was stormy days for driverless taxis , too , asCruise ’s permit to run as a robotaxi was joinked : The California Public Utilities Commission ( CPUC ) has suspended Cruise ’s permits to go and excite for its robotaxi service in San Francisco , conform to a similar move by the DMV . The DMV ’s suspension came after Cruise allegedly keep back footage from an investigation into an incident whereina footer was hit and dragged by one of its sovereign vehicle . Cruise denied the claims . The interruption comes just three calendar month after itgranted the fellowship the necessary permitsto care for rides . This led tomore pushback against robotaxis in LA .
More from transportation startups :
All aboard the Tesla standard : Toyota and Lexus haveannounced plans to adopt Tesla ’s chargers ( NACS ) for their electrical fomite starting in 2025 . The only major auto maker yet to adopt NACS are VW and Stellantis , but with the impulse toward Tesla ’s criterion , their conversion may be at hand , Harri report .
Going place : Pebble has revealed a prototype ofits flagship product , the Pebble Flow , an all - electric travel trailer designed for digital nomads . The 25 - foot drone , which can slumber up to four people , can be preordered for a refundable $ 500 , with a starting cost of $ 109,000 . An promote variation , include a two-fold motor drivetrain , is available for $ 125,000 , Kirsten report .
Moar Tesla legal troubles : Tesla is under scrutiny from the U.S. Department of Justice again , related tothe company ’s advertised EV range , personnel decision , and perks . This come in after an investigation suggested Tesla had been inflating its EV range estimates , Kirsten report .
Who’s raising, and for what?
I Own My Data ( IOMD ) , a startup founded by former PayPal executive director Rohan Mahadevan , is calculate to revolutionize on-line shopping byeliminating the want for consumer to make new account with every leverage , Mary Ann report . IOMD ’s Node platform allows consumers to manage and hive away all their on-line interaction , purchases , and profiles on their own twist . Node has emerge from stealth with a $ 2.75 million source funding . The startup bespeak out it is not a payments party but an information troupe , storing exploiter ’ private information on their machine for instant transaction .
Navan ( formerly have it off as TripActions ) , a fintech startup particularize in disbursement management , has partnered with Citi to providea jointly branded travelling and disbursal system for Citi Commercial cardholders , Mary Ann reports . The partnership is a huge softwood , especially render Citi ’s condition as the third bombastic camber in the U.S , with over 25,000 worldwide commercial-grade card broadcast and 7 million cardholders , all of whom may soon be able-bodied to undulate goodbye to expense reports . In other news , Darrell did his disbursal in VR this weekand in reality enjoyed it . He is , truly , a strange human .
FFS , that ’s not even a rounding error : calamitous founders in the U.S. raise a mere 0.13 % of all capital allocated to startups in Q3 , a meaning driblet from the $ 1 billion they raised in Q3 2022 . The course has been consistent since 2020 despite efforts , Dominic - Madori reports .
Back once again : Oh goodie , Tucker Carlson , the controversial former Fox News horde , plan to establish a spiritualist inauguration called Last Country , following a $ 15 million investment funds , Rebecca reports .
That ’s a heavy discharge o ’ cash , y’all : Global investment business firm KKR has foretell the last close of its third tech outgrowth fund withapproximately $ 3 billion in capital commitments . The group target companies with strong prospicient - terminus growth expectation , typically write checks ranging from $ 50 million to $ 250 million , Connie reports .
Top reads on TechCrunch this week
Creating private AIs : ZenML , an heart-to-heart source AI model , ishelping companies work up their own private AI models , reducing dependency on API provider like OpenAI and Anthropic . The Munich - base inauguration has raised $ 6.4 million since its inception .
Sod it , let ’s build our own : For TC+ , Ron took a deep nose dive to enter out why Monday.com , a company offering a suite of flexible business tools , hasdeveloped its own database solution , MondayDB , to fulfil unparalleled client needs .
