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Whooo-weee attention-grabbing occasions for crypto land, as Bitcoin crashes all the way down to beneath $17,000 for the primary time shortly. Wild, on condition that the cryptocurrency was buying and selling at $65,000 or so a yr in the past. That’s a 74% lower. What sort of winter is that this — are we seeing a crypto chilly snap or crypto permafrost? Solutions on an immutable blockchain transaction, please.
Should you’re excited to make sense of the crypto world, we’ve acquired an event in Miami coming up in a couple of weeks — details and tickets here! — Christine and Haje.
The TechCrunch Prime 3
- More social media struggles: Although the subject material was a downer, Paul wrote an excellent story about Meta’s confirmed layoffs of 11,000 workers, explaining what occurred, why and what it means within the better context of Meta’s future. Extra in Huge Tech under.
- It was good while it lasted: For a number of hours this morning, us TechCrunchers have been elated to see our treasured Twitter deal with get the “Official Twitter Badge,” however as Amanda writes, what Twitter giveth, Twitter shortly taketh away.
- This is what really happened: It was Elon Musk, within the boardroom, with the badge code. As we simply talked about, Musk was killing spirit throughout Twitter immediately, rolling out grey checkmarks for high-profile accounts after which deleting them. Kyle has extra.
Startups and VC
Edge computing cloud and world information community Macrometa raised funds in a spherical led by Akamai Applied sciences, as the 2 announce a brand new partnership and product integrations, Catherine studies. The funding additionally included participation from Shasta Ventures and Sixty Diploma Capital. Akamai Applied sciences CTO Andy Champagne will be a part of Macrometa’s board.
Startups could be in a funding midwinter, however the ray of sun shining on some VCs speaks of a different trend, studies Ingrid. EQT Ventures, the enterprise fund arm of Sweden’s funding big EQT making early-stage bets on startups primarily in Europe, has closed its newest fund and stuffed its coffers with €1 billion (and $1.1 billion in complete commitments).
Like our headline tales, however extra summarized:
Three suggestions for managing a distant engineering staff
Picture Credit: Inok (opens in a new window) / Getty Photographs
Distant work isn’t for each enterprise, and it is probably not everybody’s cup of tea. When Greg Soh and his co-founder determined to construct a distributed engineering staff for his or her startup, quite a few questions raced by their minds: Will the staff be productive? How will choices be made? How do they preserve the tradition alive? At the moment, the startup manages a distant staff of a few dozen engineers, they usually’ve realized fairly a bit alongside the way in which.
On TechCrunch+, he shares a number of the suggestions and recommendation the corporate has realized — a lot of the recommendation is greatest relevant to earlier-stage startups.
Three extra from the TC+ staff:
TechCrunch+ is our membership program that helps founders and startup groups get forward of the pack. You can sign up here. Use code “DC” for a 15% low cost on an annual subscription!
Huge Tech Inc.
Following immediately’s Meta announcement concerning the layoff of 11,000 workers, Ingrid did a deep dive into the corporate’s 8-Okay and emerged with some contemporary catch, together with the predictable — that slashing expenses on hiring and capex investments will assist the corporate’s 2023 backside line.
In the meantime, Frederic writes about IBM’s Osprey quantum processor, which isn’t precisely the 4,000 qubits the corporate needs to realize by 2025, however at 433 qubits, it’s a very good begin.
And we have now 5 extra for you:
- Extra layoffs: You didn’t assume you’d get off that simple, did you? Ron studies that Salesforce has laid off hundreds of employees, whereas Aria studies that Astra lays off 16% of its employees after almost tripling it within the final yr.
- Brrr, it’s chilly in right here — there have to be some crypto within the environment: It’s like Anita had some sixth sense or one thing. Earlier immediately, she wrote that the proposed Binance and FTX M&A deal looked unlikely to close. Lo and behold, simply earlier than this went out, Binance decided to walk away from the deal, Jacquelyn studies.
- Collaboration station: Able to Freeform? Unsure it’s going to be a verb but, however Apple hopes its collaborative whiteboard is one thing that sticks, Ivan studies.
- Sensors and software program and EV, oh my!: Volvo unveiled its first all-electric SUV immediately, and we’re drooling. Jaclyn has extra.
- We’re guessing he didn’t win the Powerball: Elon Musk sold more of his Tesla shares, Rebecca writes. The 19.5 million shares have been price nearly $4 billion. Marvel what he’s utilizing the cash for…
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