Joyful Saturday, of us, and welcome to Week in Overview (WiR), TechCrunch’s e-newsletter that covers the main tales in tech over the previous a number of days.
I really feel inclined to start this version with a sobering observe in regards to the current occasions in Israel and Gaza. It’s clearly impacted the tech ecosystem there, however from a purely humanistic standpoint, it’s troublesome to fathom, to make sense of, the extent of destruction and bloodshed. We’re doing our greatest to amplify the voices of these on the bottom, and, because the heartbreaking tales pour in, we’re hoping for indicators of a peaceable decision to the continuing battle.
In different information, the trial of disgraced crypto startup founder Sam Bankman-Fried continued, Atlassian acquired Loom, OpenAI reportedly explored creating its personal AI chips, and Google made passkeys the default sign-in technique for all customers. Elsewhere, Adobe upgraded its generative AI tech, indicators of a Spotify “Superpremium” service emerged, California handed an funding variety disclosure regulation, and Brian reviewed the Meta Quest 3.
It’s so much to get to, so we received’t delay. However first, a reminder to enroll right here to get WiR in your inbox each Saturday in case you haven’t already performed so.
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Alameda Analysis allegedly bribed Chinese language officers: In the course of the Sam Bankman-Fried trial on Wednesday, former Alameda Analysis CEO Caroline Ellison testified that the crypto buying and selling agency paid Chinese language officers to get their Alameda buying and selling accounts on OKX and Huobi in China unlocked. That’s one of many many bombshells this week out of the Manhattan courthouse the place SBF is being tried — see my dogged colleague Jacquelyn’s different reporting for extra.
Atlassian acquires Loom for ~$1 billion: Atlassian introduced on Thursday that it’s buying video messaging service Loom for $975 million. As Ron notes, Loom, which has 25 million prospects and hosts greater than 5 million video conversations per 30 days, had a $1.53 billion valuation in Could 2021 — however that was when corporations had been nonetheless fascinated about all work being cloud-based and the long run seemed oh so vivid.
OpenAI explores making AI chips: OpenAI, one of many best-funded AI startups in enterprise, is contemplating making its personal AI chips. Discussions of AI chip methods inside the firm have been ongoing since not less than final yr, in accordance with Reuters, because the scarcity of chips to coach AI fashions worsens. OpenAI is reportedly weighing plenty of paths to advance its chip ambitions, together with buying an AI chip producer or mounting an effort to design chips internally.
Google makes passkeys the default: Google has introduced that passkeys, touted by the tech big because the “starting of the tip” for passwords, have gotten the default sign-in technique for all customers. As Carly writes, passkeys are a phishing-resistant various to passwords that enable customers to signal into accounts utilizing the identical biometrics or PINs they use to unlock their units, or with a bodily safety key.
Adobe upgrades Firefly: At Max, its annual convention for creatives, Adobe introduced that it’s up to date the fashions that energy Firefly, its generative AI picture creation service. In keeping with Adobe, the Firefly Picture 2 Mannequin (because it’s formally known as) will probably be higher at rendering people, for instance, together with facial options, pores and skin, physique and fingers — which have lengthy vexed comparable fashions.
Spotify goes super-premium: Spotify’s rumored “Superpremium” providing could be gearing up for launch. In keeping with references found within the Spotify app’s code by Chris Messina, the Superpremium service has a flashy emblem and a protracted checklist of options past the 24-bit lossless audio that’s been anticipated. The function set seems to incorporate AI playlist technology instruments, superior mixing, further hours of audiobook listening and a personalised providing known as “Your Sound Capsule,” Sarah reviews.
California mandates variety investing disclosures: California governor Gavin Newsom has signed into regulation a invoice that’ll require enterprise capital corporations within the state to yearly report the variety of the founders that they’re backing. The invoice is scheduled to enter impact on March 1, 2025. It’s the U.S.’s first piece of laws that goals to extend variety inside the VC panorama, Dominic-Madori writes — a serious win for activists.
Meta Quest 3 evaluate: Brian reviewed the Meta Quest 3 this week, Meta’s newest VR headset. His total impression? In a world the place a $500 value level qualifies as low cost, Meta continues to be the very best resolution for informal prolonged actuality. He writes: “In case you’ve been ready for excuse to tug the set off on a VR headset, the Quest 3 presents a compelling case.”
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Feeling a podcast to move the time? Look no additional than TechCrunch’s library, which certainly has one thing that’ll scratch the itch.
The Fairness crew parsed by the week’s information in startups and enterprise, starting with ALIAVIA Ventures’ new fund, Cover Servicing’s Sequence A1, a $200 million deal between a personal fairness group and EVPassport, which startups have flown by turbulence currently and, lastly, whether or not know-how can remedy a labor scarcity in building.
Discovered featured a dialog with Giovanni Fili, the founder and CEO of Exeger, a startup that builds versatile photo voltaic cells that may create electrical power off of any mild situation. Fili talked about what it’s been like devoting the final 15 years of his profession to an organization primarily based on tech that hadn’t beforehand been confirmed to work and the way he’s constructed a capital-intensive startup off of comparatively little funding.
And Chain Response had a double function this week. For the October 12 episode, Jacquelyn interviewed Grace Torrellas, Polygon Labs’ VP of product and zkEVM product lead and co-founder and government director of Blockchain for Humanity. And this morning, Jacquelyn and Alex dove again into the Sam Bankman-Fried trial and what’s transpired over the previous few days.
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TC+ subscribers get entry to in-depth commentary, evaluation and surveys — which you understand in case you’re already a subscriber. In case you’re not, think about signing up. Listed below are a couple of highlights from this week:
Medium climbs towards profitability: Medium has tried a number of completely different enterprise fashions through the years — permitting particular person publications on its platform to supply paywalls, constructing its personal publications and extra — and seen various ranges of success within the course of. However Alex writes about how the corporate expects to get into the black within the first half of 2024.
Decarbonizing skyscrapers: Tim writes about how Bedrock Vitality, a startup creating geothermal heating and cooling options for giant buildings, is trying to interrupt into markets that had beforehand missed the know-how.
Fearless Fund fallout: Fearless Fund, which gives grants and investments to ladies of coloration, has been indefinitely barred from deploying $20,000 grants to Black ladies in a judgment in a lawsuit introduced by the American Alliance for Equal Rights. Dominic-Madori writes about how the swimsuit might lead to important antagonistic ripple results on the enterprise neighborhood’s efforts to advertise variety, fairness and inclusion inside the startup ecosystem.