Sam Bankman-Fried’s crypto empire filed for Chapter 11 bankruptcy in Delaware. Bankman-Fried resigned as chief executive officer as part of the filings, and John J. Ray III was appointed to replace him, the statement said. Sonali Basak report on “Bloomberg The Open.” Follow Bloomberg for business news & analysis, up-to-the-minute market data, features, profiles and more: http://www.bloomberg.com
Month: December 2022
Despite, well, everything, the U.S. is still the best place in the world for Black startup founders to raise money. The check sizes are bigger, the market more mature, the ambition oversized. There are more funds, more options, more opportunities, more, more, more. It’s quite easy to harp on the dismal funding and often discriminatory
As streaming services continue to hike their prices, cord-cutters have found it harder to manage their growing subscription bills. Hulu was the most recent to announce a price increase, along with Disney+. Netflix has always charged more than its competitors — January 2022 was the most recent time it raised its prices. However, now that
Securing funding is a stressful endeavor, but it doesn’t have to be. We recently sat down with three VCs to figure out the best way to go about spinning up an investing network from scratch and negotiating the first term sheet. Earlier this week, we featured the first part of that conversation with James Norman
To get a roundup of TechCrunch’s biggest and most important stories delivered to your inbox every day at 3 p.m. PDT, subscribe here. Welcome back to your daily digest of TechCrunch goodness. It is my last day with you (you’re welcome!), so Christine will be back in the Daily Crunch seat on Tuesday. Haje will
Generative AI is coming for videos. A new website, QuickVid, combines several generative AI systems into a single tool for automatically creating short-form YouTube, Instagram, TikTok and Snapchat videos. Given as little as a single word, QuickVid chooses a background video from a library, writes a script and keywords, overlays images generated by DALL-E 2 and adds
Sam Bankman-Fried was released on a $250 million bail package after making his first US court appearance to face fraud charges over the collapse of FTX, the cryptocurrency exchange he co-founded. He appeared in Manhattan federal court Thursday. Bloomberg’s Hannah Miller reports. ——– Like this video? Subscribe to Bloomberg Technology on YouTube: https://www.youtube.com/channel/UCrM7B7SL_g1edFOnmj-SDKg Watch the latest
Lukas Gentele Contributor Kubernetes is a wonderful but complex software that can present significant “Day Two” challenges when put into production. Developers who are new to Kubernetes — and most are — face a large knowledge gap when they look to sustain and optimize Kubernetes clusters. In this piece, I will share several ways to
The biggest news last week wasn’t another of Elon Musk’s Twitter tantrums, but the announcement that scientists had finally cracked one of fusion power’s biggest challenges — successfully getting more energy out of a controlled fusion reaction than they had put in. Fusion power, which has always seemed like science fiction and just about as
‘You’ll never be bored but you’ll also be glad when they leave.’ Theresa Loconsolo 9 hours What. A. Year. Hello and welcome back to Equity, a podcast about the business of startups, where we unpack the numbers and nuance behind the headlines. In honor of 2022 finally coming to a close, the Equity crew is getting
In 2014, Prayank Swaroop made a pitch to the storied venture firm Accel, where he worked as an associate, about future marketplaces in India. At the time, Flipkart and Snapdeal were the only two e-commerce startups in India that had shown a semblance of scale. Swaroop made a case that as more Indians come online,
The grocery delivery company reportedly suffered a 75% valuation cut compared to its $39B peak Anna Heim 12 hours As much as we like to end the year with some good news, what we are hearing from grocery delivery company Instacart is not exactly that. According to The Information, citing “two people familiar with the
To get a roundup of TechCrunch’s biggest and most important stories delivered to your inbox every day at 3 p.m. PDT, subscribe here. We’re almost there, folks. It’s the last Thursday of 2022, and today we have some news for you out of Alibaba and Spotify, as well as some crypto news out of India.
Taking a deep breath as I write these words: Next week, TechCrunch will return to our first in-person CES in three years. Phew. It felt good to finally get that off my chest. The last time our team flew to Las Vegas for the event was January 2020. An auspicious date. It wouldn’t be long
Spotify has launched a New Year’s Hub to help its users ring in 2023, the streaming service announced on Thursday. The company says the one-stop destination gives users access to classic party playlists and special takeovers from artists like Charli XCX, Rita Ora, N-Dubz and Céline Dion. “We’ve got plenty of music to kickstart your celebration, and it’s
Meta Platforms Inc. Chief Executive Officer Mark Zuckerberg said the company will cut more than 11,000 jobs in the first major round of layoffs in the social media giant’s history. He said in a statement, “I got this wrong.” Quicktake’s Alex Webb reports. ——– Like this video? Subscribe to Bloomberg Technology on YouTube: https://www.youtube.com/channel/UCrM7B7SL_g1edFOnmj-SDKg Watch the latest full
Blair Silverberg Contributor Blair Silverberg is co-founder and CEO of Hum Capital, a financial services company using technology to accelerate the fundraising process. More posts by this contributor The right questions to ask investors when fundraising in a down market 8 steps for building a financial model to calculate your fundraising needs For many founders
For organizations that do a good chunk of their work through virtual meetings, simply hitting record or taking notes isn’t enough to capture everything that’s said. Some build their own meeting integrations to capture data, but that’s time-intensive and costly. Recall.ai helps with a unified API that currently works with Zoom, Google Meet and Microsoft
The conversation around widespread electric vehicle adoption has been inherently linked with charging: Are the chargers plentiful? Will they charge my car fast enough? Are they plugged into a grid that’s not entirely run by coal? Billions of dollars have gone into developing batteries that can handle fast charges as well as chargers that can
Sophie Alcorn Contributor Sophie Alcorn is the founder of Alcorn Immigration Law in Silicon Valley and 2019 Global Law Experts Awards’ “Law Firm of the Year in California for Entrepreneur Immigration Services.” She connects people with the businesses and opportunities that expand their lives. More posts by this contributor Dear Sophie: What are the pros
Building an investor network from scratch sounds daunting. This is true particularly if, like many founders, you don’t happen to be part of a social or economic circle where striking up early conversations with potential investors is a no-brainer. We recently sat down with three VCs who have also been founders to talk about different
When you think of the biggest tech stories of the year, you probably think of something like Elon Musk buying Twitter, former crypto wunderkind Sam Bankman-Fried’s FTX filing for bankruptcy, all the people who lost their life savings when UST imploded or the tens of thousands of tech workers who got laid off. It was
The promise of increasing developer efficiency, not headcount Anna Heim 12 hours More than half of professional developers have CI/CD, DevOps and automated testing tools and services available at their organization, Stack Overflow’s 2022 developer survey uncovered. However, Stack Overflow noted, only 38% of the 34,906 respondents reported having a developer portal to make it
To get a roundup of TechCrunch’s biggest and most important stories delivered to your inbox every day at 3 p.m. PDT, subscribe here. Hey, folks, welcome back! Below we’ve got some 2022 roundups and even some news. I suspect it’ll get even leaner as the week wears on, but no matter! There will always be
In horse racing, the most reliable tips about which horse will likely win often come from the stable boys, since they’re the ones closest to the source. So when we thought about the best ways to find out what’s happening in a particular sector, we figured why not get it straight from the horse’s mouth
Amazon is developing a standalone app for watching sports, according to a new report from The Information. The move signals Amazon’s continued push toward investing in Prime Video and live sports content. If released, the standalone app would better highlight Amazon’s sports content, which is currently included in the company’s main Prime Video platform. The
Tesla laid off hundreds of workers on its Autopilot team as the electric-vehicle maker shuttered a California facility, according to people familiar with the matter. Ed Ludlow reports on “Bloomberg Triple Take.”
The Equity crew is kicking off your week with a special episode from our sister podcast, Found, the stories behind the startups. Co-hosts Darrell Etherington and Becca Szkutak spoke with Alice Albrecht from re:collect, a software tool that augments creativity by helping people focus, recall and connect their ideas. The conversation covered a lot of ground, from how
Alison Miller Contributor Alison Miller, trial lawyer at Holwell Shuster & Goldberg LLP in New York, litigates commercial disputes at all stages in subjects such as securities, contract, antitrust, IP misappropriation, and corporate M&A law. The most important asset early-stage companies possess is their intellectual property. But IP can be difficult to protect during fundraising,
Climate became an increasingly popular topic in 2021, perhaps best showcased in pieces like this interview with Eric Dean Wilson on why air conditioning, one of the greatest inventions of the 20th century, is killing the 21st, which we featured in our Best of TechCrunch 2021 list. But this year came in waves — heat
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