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Borrowing has become more expensive , and profits are harder to come by , which means that 2023 has been a savage year in startup land . PitchBook data suggests that around 3,200 inauguration — representing a total of $ 27.2 billion in venture support — have lead under , with a significant number of startups being in zombie mode : Unable to develop , unable to fire money , but just about limp by well enough to quash closure . Layoffs are happening — also in December — and over the next couple of calendar week , a lot more startup will exclude down , so as to not drag out the inevitable into a new tax year . I ’ll be looking into this more deep over the next couple of weeks , so stay tuned .
Also : I was supposed to be writing this newssheet but instead terminate upplaying the TechCrunch pub quiz for way too long . My score was . . . embarrassingly poor , considering that I ’ve literally show every story on the site for the past class to pen this newssheet . Still , it was fun — give it a whirl !
When the AIs come marching in
I love it when my colleagues are break down super deep into nerd land . That ’s definitely one of the hallmarks of Devin ’s work from time to time ; in this case , he talks about how “ Star Trek : Deep Space Nine ” fans are using AI to make the previous show calculate better because there ’s no official in high spirits - quality version . They ’re using AI to add details to the original episodes , which is tough and takes a lot of effort — but it ’s showing a bunch of promise . Devin conclude that the technical school could be a cool means for companies to advance old shows , but there are some legal and expert hurdles to figure out . Don’t miss his 3,000 - word ode to de - grainification .
The other AI - bear on nerd - out this week comes good manners of Ron , who dug intothe continued relevance of traditional AI models in enterprises , despite the rise of bombastic speech communication modelling ( LLMs ) . That progress to good sense : LLM are kind of the Leatherman of AI tools : They sort of do everything . I never leave the planetary house without my Leatherman , and it has helped me out of many a knotty situation , but if I ’m building a house or repairing a car , I break out the more specialized prick kit .
More startuppy AI newsworthiness this week :
This really proceed me : Just when you think your on-line exposure were safe , here comes Animate Anyone turn them into eerily vivid , video deepfakes — becauseregular old photo fakes were n’t enervate enough .
Join us at TechCrunch Sessions: AI
Exhibit at TechCrunch Sessions: AI
G - oops - le : Google ’s Modern AI good example Gemini is n’t on the dot hitting it out of the parkland , with early users finding more pratfall than brilliance in its answer . turn out , even Google can have an “ oops ” moment in the AI populace .
The Pokémon approaching to startups : Elon Musk , seemingly never threadbare of starting new ventures , is nowchasing a cool $ 1 billion for his latest AI escapade — xAI — because why settle for running just a few companies when you’re able to add another AI startup to your assemblage ?
This week in Elon Times
Look , I ’m as bored of Elon Musk as everyone else , but fetch ta give the guy credit for one thing : He does n’t half appeal some tending . Rarely for good reasons , recently , it must be say .
Darrell summarizes the situation in his piece“The end of Elon,”where he — clapper hard planted in cheek and with the snark meter turned to 11 — dissects theTesla Cybertruck launch(spoiler : It was a piece of a nothingburger ; there ’s still much unknown about the truck ) and Musk ’s , er , unique approach shot to managing his various ventures — admit tell X ( formerly Twitter ) adman togo do something anatomically improbable .
Of of course , there was ( much ) more Musk - related news this week , and if you want it all , give our Elon Musk tag a warm scroll .
What go up . . . : SpaceX drops $ 2.2 million on a parachute company , because apparently making parachutes that do n’t warp in space isharder than rocket scientific discipline .
Keep on truckin’:TheTesla Cyberbeast : Heavy , quick , and come a number unforesightful in towing compared to its richly - priced galvanising rivals — but hey , who ’s depend when you ’re driving an angulate beast ?
Show me the money :X has scored licenses for payment processing in 12 U.S. states , inching nearer to Musk ’s vision of turning the political program into an “ everything app . ” With recent advertiser exits and contestation , it seems there ’s more drama than dollars inMusk ’s grand plan — for now .
Shutdown City
After the heyday of 2021 , a crowd of startups are break up to the ground after fail to meet their goal . rent ’s have a moment of secretiveness for some of our fallen - from - grace brethren :
To its concluding zesting place : Going from a yeasty $ 450 million valuation to close down , even Goldman Sachs ’ backing could n’t spice up ZestMoney ’s endurance .
So near : Edtech company Doubtnut learns the hard way that a bird in the hand is deserving two in the shrub , selling for $ 10 million after passing up a $ 150 million dealfrom Byju ’s .
Now , not so fab : From unicorn to extinct : Prefab home detergent builder Veev provesthat sailplane to billion - dollar condition does n’t vouch a sturdy foundation .
Top reads on TechCrunch this week
That not enough for ya ? ok , here ’s a solicitation of the most - loved , most - learn article from the preceding week :
Is it a bird ? Is it a plane?:Anduril ’s new battler green weapon , Roadrunner , lands with the grace of a Falcon 9 .
Pour me another one : MIT spinoff Liquid AI thinks it ’s meter for a modification in the AI plot with their unexampled “ liquid neural internet , ” becausewho needs another GPT clonewhen you’re able to have AI animate by worm wit and run on a Raspberry Pi . . .
Yeah , but will it hold out a beanie hat?:Ex - SpaceX applied scientist are now deliver the planet with a“vegetarian rocket engine,”because apparently shooting stuff into space was n’t cool enough . Also , were previous rockets full of bacon ? I ’m fox .
It ’s thrilling : GM and Toyota , welcome to theOops , We Missed the EV Bus club !
Breaking kneecaps , and YouTube phonograph record : Grand Theft Auto VI just stole MrBeast ’s YouTube crown , scud up more views in a daythan a money - giving altruist could dream of .
