Another week of job cuts and crypto crashes

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Hi friends!

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Welcome back to Week in reviewA newsletter that summarizes many of the top stories that have appeared on the TechCrunch homepage over the past seven days.

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big thing This week, at least according to what readers are most excited about, the cryptocurrency market crashed sharply and quickly. Bitcoin has dropped over 25% from the previous month, from around $41,000 per BTC to around $30,000 at the time of this writing. Ethereum has dropped over 30% in the same time frame, from around $3,100 per ETH to around $2,000.

Why? For this I rely on Lucas and Anita and their new podcast/newsletter. Chain reaction. Every time I write about cryptocurrencies, I feel stupid and wrong for about 48 hours – luckily the Chain Reaction team has lot I’m better at this than I am. This week they sat down with Kevin Rose, a permanent founder-turned-investor who says it’s his “tenth or so” cryptocurrency downturn, to get some ideas.

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My goal with Week In Review is to keep you all in the loop – to make sure that when you click at the end of a busy week, you can review WiR and feel like you have a pretty good idea of ​​what happened. in those. So let’s dive in!

other things

Image credits: Google

Apart from the cryptocurrency crash, what else happened this week? Lot.

Google I/O has occurred!: Whether everyone buys a new phone every year, or we’re all just focused on a million other things right now, it felt like Google’s annual conference/keynote just sort of… came and went. While Google continued lot Of the actual details under wraps, the big news from the show were early glimpses of a new Pixel phone, a new line of Pixel “Pro” headphones, and improvements to Google Maps, Assistant, and Translate. Oh, and Google is finally making its own smartwatch! Oh oh and they’re still mulling over the idea of ​​Google Glass. I don’t wear glasses (yet) but live, real subtitles in this is a concept video would have me rocking a couple in no time.

More technical layoffs: Unfortunately, the recent trend of tech layoffs continues. Above last few weeks we’ve seen layoffs from Robinhood, Netflix, Thrasio, Cameo, OnDeck and MainStreet. This week this list includes Carvana, Latch, DataRobot and Section4. Meanwhile, a number of large technology companies. announced that they are slowing down or completely freezing hiring. Amanda and Natasha have a complete breakdown.

Instagram is testing NFTs: Because they are, of course. Remember when Instagram was just a place where we spent too much time taking sepia photos of our breakfast and that was enough?

Tiger Global nearly ran out of its latest VC fund: Well, it was fast. In March of this year, Tiger Global closed its latest venture capital fund with a mammoth $12.7 billion in commitments. Just a few months later, Connie Loizos writes: “This new fund, which reportedly took less than six months to set up and includes $1.5 billion in commitments from Tiger Global’s own employees, is almost fully invested already.”

DJI Mini 3 Pro: DJI has a new drone, and TC’s Darrell Etherington is still a fan of it (with the caveat that he basically recommends the most expensive option, which costs a few hundred dollars more than the $669 base model).

Row, row, row your… Peloton?: The company best known for its exercise bikes (and more recently treadmills) is developing a new piece of home workout equipment: the rowing machine. While there seems to be something wrong with rowing machines right now, it’s hard to imagine that this alone is making a difference for Peloton. after an incredibly difficult quarter — but as Brian Heater puts it, it’s at least a “bright spot” for the company after a string of bad news.

added things

a lone figure at the entrance to a hedge maze with an American flag in the center

Image credits: Bryce Durbin/TechCrunch

We have a paid section of our website called TechCrunch+. It costs a few bucks a month and it’s full of really good stuff! For example, from this week:

US visa options for international founders: So you started your company outside of the US and now you want to move to Silicon Valley. What can you do? Immigration attorney Sophie Alcorn is looking through options.

Why Airbnb is reinventing itself: This week, Airbnb carried out an overhaul that CEO Brian Chesky calls a “top-down update.” Jordan Crook spoke to him to find out what has changed and why.

$20M Series A Dutch Deck: It’s time to tear down the deck! Haie looks at the deck that the Dutch pet telemedicine platform used to raise a $20 million Series A. Will each presentation be able to take 14 photos of adorable animals? Probably no. But this one can, much to Hyja’s delight.

Credit: /

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