Daily Crunch: Under the wing of Bungie, Sony plans to invest half of its PlayStation Studios budget into game development this year.

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Happy Friday Crunchers! Today is May 27, 2022 and we’re leaving for the long weekend because here in the US it’s Memorial Day weekend. absolutely nothing that we celebrate with all our hearts. See you here Tuesday!

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Don’t know what to do this weekend? Verify this roundup of all the great podcasts we’ve published this week. This will keep you busy for at least a few hours. — Hadje as well as Christine

TechCrunch Top 3

  • golden goose: Manish was on a roll today, writing not one, but two of our top articles of the day. The first concerns Jar, an Indian fintech company that is considering a $50 million Series B round. The country’s citizens have bank accounts to save money, but Jar helps them do something they may not be as familiar with: investing. And the company decided to start with gold, which is known to be loved by Indians.
  • revolving door: Manish’s second story involves another Manish, Manish Maheshwari, the former head of Twitter in India, who left the startup he co-founded after just 6 months. Our Manish reported in December that Maheshwari left his post on Twitter co-founded the educational company Invact Metaversity with Tanai Pratap. The agreement didn’t seem to work out as planned due to some issues within the company with getting the product out the door and some disagreements with management.
  • Sometimes it shouldn’t be: In the case of Substack, a new round of capital. Connie looked through the details yesterday about them attempt to lift Serie C, but then canceled it when favorable conditions with investors did not work out. Today, Alex takes off some onion layers to explain why Substack’s goals based on its 2021 Series B raise didn’t translate well into the 2022 investment environment.

Startups and VK

Earlier this week, Anita It was reported that Adam “WeWork” Neumann is back with a new startup, and a raised back from a16z. In today’s “Chain Reaction” podcast Anita as well as Lucas discuss does Neumann really deserve $70 million and another chance. We’re completely baffled as to why anyone would bet on him again, and we’ll no doubt be keeping a close eye on his new startup.

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A few more gems for you:

Ride or die

Image of a tanker truck being refueled in Illinois.

Image credits: Bloomberg Creative (Opens in a new window) / Getty Images

Diesel prices alone provide about 17% of the inflation we see today, and Tim writes an inspiring article about both gasoline and diesel are perhaps not the bestespecially as the economy is peeping over a cliff into an abyss that is as deep as our overall climate optimism at the moment.

Perhaps this is exactly what is needed: maybe when economic and climate interests coincide, we will find a pot with the thought “yes, we can live on this planet for a few more years” at the end of the rainbow.

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

Big Tech Inc.

  • Sony Online Services PlansA: Sony is doing its best to offer its services live. This follows the acquisition by Bungie earlier this year. This week, Sony laid out plans for the life of its company after the acquisition, which include significant investment in the gaming sector with live services, though it didn’t go into detail on which of its franchises would receive the treatment.
  • Bind to it: We thought Snapchat was just individuals sharing small “snaps” with other people, but the social media giant has bigger plans. Its new “Shared Stories” feature is a nod to the “User Stories” feature, which allows users to, well, you can see where we’re heading. Here’s how it works: Users added to the group can also add their friends to make it easier to share their stories. Don’t worry if someone in your group of friends doesn’t like you, your stories won’t be available to them.
  • Database crash: Voto Consulting, a New Jersey talent firm, has learned the hard way what happens when you don’t password-protect a database and leave it online. The resumes and personal information of approximately 30,000 workers were disclosed. As Zach reports, the story gets a lot more interesting – this is something you really need to check for yourself.
  • Travel time: In today’s transport news, Rivian opened the hood and rearranged some things with the company’s engine (yes, we know it’s an electric car) on its way to hiring a new COO, Frank Klein. This comes amid some other management changes, with the head of production saying goodbye. Meanwhile, Tesla says it won’t open a plant in India until it can first sell and service cars in the country. Manish describes the relationship that goes on between the country and the company: the country’s officials want the cars to be made locally, and Tesla enforce high import duties. Tesla is not willing to pay higher fees just yet if the market doesn’t test itself well. Thus, a super hilarious dead end.




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