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Hoooo boy. Alex would say it: This year has been long. You just know it has been a pretty wild ride when Meta can lay off 13% of its staff, and it isn’t even really in the top 10 of crazy things that happened.
Gmail doesn’t allow you to use the old interface anymore, retro-loving nerds. Salesforce went through a round if layoffs. The DOJ seized $3.36 Billion worth of Silk Road cryptocurrency, Binance stated it would purchase FTX, but then backed out. Sequoia was forced to write off its entire FTX investments. Theranos’s founder Elizabeth Holmes will find out her lot next week, while Peloton’s founder gave up on exercise equipment and is selling rugs now. Then there was a wall of Twitter drama, including utter chaos with Twitter’s new “verified” system after it laid off half of its staff, before quickly making moves to hire some of them back. Oh, and we’re all #RatVerified 4lyf now, I guess.
You might find next week a bit more relaxed. It will be for Haje, who’s buggering off to go do some scuba diving for a week, and possibly trusting Apple with his life in the process. As he left for the day, he could be overheard muttering, “I hope there’s a bit of internet left when I come back.”
Take a deep breath, you can always collapse with stress next week. — Christine and Haje.
TechCrunch Top 3
We fear that this is only the beginning.: If you’ve been following the whole FTX company drama, then no doubt you have a take on today’s big story that the crypto exchange founder and CEO Sam Bankman-Fried filed for Chapter 11 bankruptcy and also resigned his position. After SBF believed there was a way to save the company using other methods like a tie up with Binance and some liquidity, this is now. Jacquelyn, who spoke on CNBC this morning, said that everyone should keep their crypto in their private keys.
All that back-and forth is causing pain in our necks: We fear that Twitter developers have spent much of their 84-hour workweek flipping the “official badge” switch on and off to appease Elon Musk’s constantly flip-flopping ideas. Natasha L has more on what’s happening.
Potato, potahto, let’s call the whole thing off (and on again): Ivan has the best headline all week — “Have you tried turning it off and on again, Elon?” We’re still waiting for that answer.
Startups and VC
Our entire news team are flopped over in their respective sofas, slightly shell shocked after one of the wildest news weeks we’ve seen. You know, we’re so exhausted, we’re not even gonna write a proper intro. Take a cup and relax as you browse these. Or don’t. You’re the master of your own destiny.
Pitch Deck Teardown: Syneroid’s $500K seed deck
Image Credits GPC Smart Tags (opens a new window).
While stolen vehicle recovery systems have been around for decades, a lost pet can bring down your emotions.
According to Syneroid, a startup that makes smart tags, 10 million pets are lost each year in the United States, but “less than 30% are returned home.”
After raising a $500,000 seed round, the company’s founders shared their 12-slide pitch deck with TechCrunch for a review. According to Haje Jan Kamps, “no information has been redacted or omitted.”
Three more from TC+:
TechCrunch+, our membership program, helps founders and startups get ahead of the rest. Sign up here Use code “DC” for a 15% discount on an annual subscription!
Big Tech Inc.
Brian visited Amazon’s BOS27 robotics facility and not only watched cute robots line up, but also learned about the delivery giant’s plans for global domination. If you can’t tell by now, it involves robotics and how Amazon aims to improve the world of last-mile delivery.
Do you need more entertainment? Here’s five more: