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Gary Tan heads Y Combinator, the world’s most powerful startup program. And last weekend, he tweeted — I mean X-ed — some pretty dark nonsense, calling on politicians to “die slowly.” He has since deleted the tweet, but the drama was the talk of the town this week.
Still, Tan’s alleged intoxicating tirade was a welcome distraction from another wave of tech layoffs over the past week (you’re not imagining things — they’re real). Layoffs came close this week, as some of our colleagues at TechCrunch were laid off, including some close friends of mine who I’ve known and worked with for a decade now. Our paths will cross again, friends!
Okay, so what? last Was he landing in the startup world? Let’s dig deeper.
This week’s most interesting startup stories
Image credits: Plex
In a move that screams: “We’re almost there, promise!” Plex, the streaming media underdog, has secured $40 million in what feels like its umpteenth round of funding, in a confusingly named Series C-3 round. The company is still chasing its profitability goal, and with a strategy that seems to be throwing everything at the wall to see what will work — from ad-supported content to social sharing features — Plex is betting big on becoming a major player in the streaming game. Whether they cross the finish line into profitability or just add more features, this remains an exciting affair that deserves its own drama series. Maybe Plex will mandate that next.
In a masterclass in how not to win friends and influence regulators, Apple wins with its dramatic response to regulatory compliance requirements. Thanks to a grouchy teenager, the company has reluctantly introduced the changes required by laws like the European Digital Markets Act, all while creating panic about the potential risks these changes might pose to users. Despite its vast resources, Apple is choosing to play the victim, warning that these regulatory adjustments are hurting its user base, whom it apparently views as incapable of making informed decisions. This approach not only risks burning bridges with developers, who are increasingly frustrated with Apple’s antics, but also risks tarnishing its political goodwill.
Press and hold your Fitbit, here’s a sick clip: In a world obsessed with fitness tracking, Visible says, “Grab the wearable” and offers disease tracking, because what we really need is a daily reminder of our chronic diseases. It’s like having a pocket-sized friend who whispers every morning: “Maybe don’t do it today.”
Most interesting fundraiser this week
![](https://techcrunch.com/wp-content/uploads/2024/01/chef-robotics.jpg)
Image credits: Chef robots
“The fundraising cycle, once it starts, takes twice as long and requires three times as many conversations,” says Jesse Randall, founder of Sweater Ventures, in an interview with Domenic Madori. Here’s what to know to raise your Series A now. (Tech+)
Metronome, a startup fond of turning complex invoices into uncomplicated ones, especially for AI companies, has just closed $43 million in Series B funding. With its roots in Dropbox and a roster of clients that read like tech heavyweights (like OpenAI and Nvidia), they They make switching from subscription to usage-based billing much less complicated. Their secret sauce? Metronome has soared thanks to a 6x increase in revenue, while keeping its valuation ambiguous.
Get the sauce, we already have the chips: In the world of AI chips, where the norm is to throw money at problems and hope something works, Rebellions just secured an impressive $124 million Series B to join the fray. Whatever the case, it’s an underdog story for the ages.
Can you tell what the robot is cooking?: In a world where flipping burgers will be done by hand in 2023, Chef Robotics just raised $15 million to convince commercial kitchens that the future lies in food assembly by robots, not humans. Why chop onions when you can have a robot do it for you?
Restrain robots: Spending money on generative AI security is the new black — Aim Security just took a cool $10 million to ensure your ChatGPT doesn’t get corrupted.
This week’s big trend: layoffs. once again.
![](https://techcrunch.com/wp-content/uploads/2020/02/GettyImages-520141652.jpg)
An aerial view of Silicon Valley from 30,000 feet. Image credits: Getty Images/Charles Aurier
I know I know. We thought all this was behind us, but… . . Alas.
In the latest twist in the layoffs saga, giants like Microsoft and Alphabet are flaunting their profits while simultaneously shrinking the ranks of their employees. Meanwhile, in the troubled corner of startup land, venture capital is hard to come by, leaving many startups stuck in a financial no-man’s land. It’s a classic case of “it was the best of times, it was the worst of times” corporate case, proving once again that in the world of technology, the more things change, the more layoff announcements remain eerily similar.
This spending must be controlled: In an ironic development regarding corporate economics, Brex, the spend management startup, has gone from inflating its employee roster to cutting it by nearly 20% in a desperate attempt to stop burning through $17 million a month.
Raising money while reducing staff: Flexport, which has already raised $2.7 billion in funding, is eyeing another round of layoffs, proving that even with deep pockets, they’re not above reducing their workforce. . . Once again, just weeks after securing an additional $260 million from Shopify.
I have to pay Payper: PayPal has decided to reduce its workforce again, this time by cutting 9% of its employees — or roughly 2,500 people. We can only assume that the strategy is based on the little-known fact that the best way to innovate is to make sure there are fewer innovators.
Other TechCrunch stories you can’t miss. . .
Each week, there are always a few stories I want to share with you that somehow don’t fall into the above categories. It would be a shame to miss out on these, so here’s a random bag of goodies for you:
Back to work, gear: In a world where even AI can detect “lazy bugs,” OpenAI has decided to cut prices and revamp the work ethic of its GPT-4 model, ensuring that it no longer shirks from completing tasks. It seems like AI has been quietly embodying a digital form of quiet smoking cessation, but fear not, the latest update promises a more diligent and cost-effective virtual mate.
India’s first AI unicorn: Ola founder Krutrim’s AI venture clinched the title in record time with an impressive $50 million funding round at a valuation north of a billion oysters, claiming to be India’s first AI heavyweight without breaking a sweat.
You’re a creep, stop looking for it: X’s dealing with the deep Taylor Swift epic has proven how low level of content supervision. This incident highlighted the farcical shortcomings of existing safeguards, which make the Internet’s Wild West look like a playground for the digitally inept.
More like leaving: Arrival, the commercial electric vehicle startup once celebrated for its innovative microfactory concept, has gone from a $13 billion valuation to being worth pocket change, proving that not all that glitters in the SPAC world is gold. Now its shares are set to disappear from the Nasdaq.
give up: Amazon’s grand plan to take over the world with robotic vacuum cleaners has hit a snag, and its $1.4 billion deal with iRobot is now just a pile of dust. Meanwhile, iRobot, facing a future without Amazon’s wallet, starts cutting jobs and dreaming up the next big thing in home automation.