Daily Crunch: Quite stagnant since launch in April, Coinbase NFT sales under $700k

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Friday, May 6th is here. The only thing that matters here is the “Friday” part. this report on Natasha and Amanda a description of all the tech layoffs we’ve seen this week.

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Meanwhile, today at TechCrunch Slack Amandaafter some rebuff minimal contextasked: “RonAre you implying that Britney Spears hasn’t single-handedly created more jobs in America?” We will soon have more national labor market analyses. – Christine and Hadje

TechCrunch Top 3

  • Coinbase NFT is a kind of NOT: The Coinbase NFT marketplace opened to the public this week, and unlike the queue to hit the Apple store on the first day of the new iPhone, not as many users are flocking to the service as the company expected. We may be seeing some NFT fatigue. You can judge for yourself how Jacqueline reports that some expert is taking on what the problem might be and whether there is anything that can solve it.
  • We have a ticket for the ride but we may have missed the bike: Looks like Peloton is turning the red knob to the left to get the company back on track. Brian reports. In the new reportage from The Wall Street Journalthe home bike company, which came in handy when we couldn’t go to the gym in 2020, has started to struggle a bit but is trying to correct course, perhaps by selling 20% ​​of the shares.
  • Missing piece of the puzzle: When you read something that says “Simone Geertz, the former queen of YouTube’s shitty robots, didn’t so much give up her crown as outgrow it,” you continue. What follows is Brian’s delightful discussion with Geertz about how her Yetch product collection came to be (you have to read it to understand what it is). The name gives away what one of these products is.

Startups and VK

In what has to be one of our favorite TechCrunch articles in recent memory, Brian joins Tony Fadell — the man behind the iPod, iPhone, and Nest thermostat — in his garage to see what prototypes and curiosities the longtime product maestro has. This is deeply engaging tour of products that could be and a must read for all gadget lovers.

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We also liked this piece. Carly discussion should you uninstall period tracker apps if Rowe v. Wade ends up in the past, pointing out that many app developers are already sharing details with third parties. “It is unlikely that the sensitive data you share with your period tracking app will end up in the hands of those who seek to outlaw abortion,” she writes. “That’s not to say that these tools don’t have major privacy concerns.”

Little musical puns and great stories:

  • A runaway chain never coming back: The NFT ecosystem continues to evolve, but the vast majority of volume is still moving through the centralized halls of the OpenSea NFT market, leaving VCs looking to find new channels. Haun Ventures makes a $50 million bet at Zora Labs.
  • Old Macdonald had a farmAnd it’s time to be kinder to the planet: Tomorrow Farms fuels a sustainable food train with ingredients to turn pantries and refrigerators into the staples we know now into products that are best for us and kinder to animals and the planet.
  • That’s when I fell in love with… tax leader: MainStreet, a startup that helps other startups uncover tax credits that were valued at $500 million last year, fired about 30% of its staff.
  • I want you back – I want you back forever: Metals and fossil fuels giant Glencore invests $200 million in Li-Cycle battery recycling plant as part of a larger symbiotic supply deal signed by the two firms.
  • Don’t call it a comeback; already dawn: Meanwhile on our TC+ subscription site, Alex and Anna conclude that the venture recession is not comingit’s already here.

6 Places Investors Seek Trouble When You Raise Funds

Low view of cleaner cleaning dirt under carpet with mop

Image credits: Andrey Popov (Opens in a new window) / Getty Images

According to Bill Petty, partner at Tercera, here are six of the most common questions investors ask when doing due diligence:

  1. What is your historical business performance?
  2. How do you think and plan for growth?
  3. What is the ownership structure?
  4. Who are your key clients and what is the nature of the work you do for them?
  5. How do you manage a business? What is your wastage, usage, bill rates, etc.?
  6. Are there unresolved risks?

If you can’t answer these questions right away, you probably aren’t ready to fundraise. Investors have higher expectations than the friends and family that may have helped get you this far.

“That’s the difference between inviting a friend over for dinner and getting ready for an open house,” Petty says.

“With a friend, you could clean up and put a few things in the closet. If customers come to you to look around, they will open this closet.”

(TechCrunch+ is our membership program that helps founders and startup teams get ahead. You can register here.)

Big Tech Inc.

Since it’s the weekend, let’s start with the trip.: China Electric Vehicle Company Nio pulls into a parking lot at the Singapore Stock Exchange. The company is reportedly seeking a secondary listing of its Class A common shares to match the Hong Kong listing as the company awaits news on whether its shares will be delisted from the New York Stock Exchange. Meanwhile, Lucid, maker of the Air luxury sedan, said: the demand is so good that he would raise the prices of his line of cars.

Regulators, mount: Britain cracks down on what it believes Big Tech’s Unfair Advantageand Natasha read all the long papers about some new rules so you don’t have to. In short, the government is setting some rules for big tech companies that it says will be needed to increase competition and enable consumers to more easily and safely perform actions such as switching between Android and iOS, switching social media accounts without data loss. (oops!) and have more control over who has access to their data.

Meanwhile:

  • Can’t stop (won’t stop) stopped the rhythm: Spotify Stations, a lightweight streaming service app that offers easy access to curated playlists, closes 16th of May.
  • Causes a commotion: And in case you missed it yesterday, to help fend off the TikTok threat, Meta announced this week. now he will distribute additional bonuses to the creators of reels who post original content on Facebook.




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