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Whooo-weee fascinating occasions for crypto land, as Bitcoin crashes right down to below $17,000 for the primary time shortly. Wild, provided 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.
The TechCrunch Prime 3
- Extra social media struggles: Although the subject material was a downer, Paul wrote an important story about Meta’s confirmed layoffs of 11,000 workers, explaining what occurred, why and what it means within the larger context of Meta’s future. Extra in Huge Tech beneath.
- It was good whereas 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 rapidly taketh away.
- That is what actually occurred: It was Elon Musk, within the boardroom, with the badge code. As we simply talked about, Musk was killing spirit throughout Twitter at the moment, rolling out grey checkmarks for high-profile accounts after which deleting them. Kyle has extra.
Startups and VC
Edge computing cloud and world knowledge community Macrometa has raised $38 million led by Akamai Applied sciences, as the 2 announce a brand new partnership and product integrations, Catherine stories. 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 is likely to be in a funding midwinter, however the ray of solar shining on some VCs speaks of a special development, stories Ingrid. EQT Ventures, the enterprise fund arm of Sweden’s funding large 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 crew
Distant work will not be for each enterprise, and it might not be everybody’s cup of tea. When Greg Soh and his co-founder determined to construct a distributed engineering crew for his or her startup, quite a few questions raced via their minds: Will the crew be productive? How will selections be made? How do they hold the tradition alive? Immediately, the startup manages a distant crew of a couple of dozen engineers, they usually’ve realized fairly a bit alongside the best way.
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+ crew:
TechCrunch+ is our membership program that helps founders and startup groups get forward of the pack. You possibly can join right here. Use code “DC” for a 15% low cost on an annual subscription!
Huge Tech Inc.
Following at the moment’s Meta announcement concerning the layoff of 11,000 workers, Ingrid did a deep dive into the corporate’s 8-Ok and emerged with some recent catch, together with the predictable — that slashing bills 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 an excellent begin.
And now we have 5 extra for you:
- Extra layoffs: You didn’t suppose you’d get off that simple, did you? Ron stories that Salesforce has laid off tons of of workers, whereas Aria stories that Astra lays off 16% of its workers after practically 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 at the moment, she wrote that the proposed Binance and FTX M&A deal appeared unlikely to shut. Lo and behold, simply earlier than this went out, Binance determined to stroll away from the deal, Jacquelyn stories.
- Collaboration station: Able to Freeform? Undecided it’s going to be a verb but, however Apple hopes its collaborative whiteboard is one thing that sticks, Ivan stories.
- Sensors and software program and EV, oh my!: Volvo unveiled its first all-electric SUV at the moment, and we’re drooling. Jaclyn has extra.
- We’re guessing he didn’t win the Powerball: Elon Musk bought extra of his Tesla shares, Rebecca writes. The 19.5 million shares have been price virtually $4 billion. Marvel what he’s utilizing the cash for…