Hello friends!
Week In Review is the newsletter where we wrap up many of the top stories to cross the front page of TechCrunch over the last seven days.
The big thing this week was the plunge in thecryptocurrencies market. At the time I am writing this, it was down 25% month-over-month, from $41k to $30k. In the same time frame, the price of ether has gone from around $3,100 to $2,000.
Why? I defer to Lucas andAnita for that. The Chain Reaction team has a better grasp on this stuff than I do, so I feel dumb and wrong within 48 hours of writing about it. Kevin Rose, a repeat-founder-turned-investor, said this is his 10th or so downturn in thecryptocurrencies.
My goal with Week In Review is to make it so that when you click in at the end of a busy week, you can skim and feel like you know what happened. Let's dive in!
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What else happened this week? Lots.
It felt like the annual conference/keynote just kinda happened, whether everyone is over buying a new phone every year or just focused on the million other things going on right now. The big news out of the show was the early glimpse of a new phone, a new line of ear buds, and improvements to Maps, Assistant, and Translate. Oh, and finally, they are making their own smartwatch. They are still playing with the idea of Glass. I don't wear glasses yet, but the live, real-world subtitles in this concept video would have me rocking a pair in a heartbeat.
The recent trend of tech layoffs continues. Over the last few weeks we have seen layoffs from many companies. Carvana, Latch, DataRobot, and Section4 were added to the list this week. A number of tech companies have announced that they are slowing or freezing hiring. They have the full breakdown.
NFTs are being tested because of course. We used to spend way too much time taking pictures of our breakfast and that was enough.
Tiger Global's latest VC fund nearly ran out. In March of this year, Tiger Global closed its latest venture fund with $12.7 billion in commitments. The new fund, which took less than six months to raise and includes 1.5 billion in commitments from Tiger Global's own employees, is almost fully invested.
Darrell Etherington is a fan of the Mini 3 Pro, but he mostly recommends the most expensive option, which is a few hundred dollars more than the base model.
The company best known for its exercise bikes and treadmills is working on a rowing machine. It feels like rowing machines are having a bit of a moment right now, but it's hard to imagine that this alone will turn things around for Peloton after an incredibly rough quarter.
The image is from TechCrunch.
There is a paywalled section on our site. It costs a few bucks a month and it has a lot of good stuff. For example, from this week.
You started your company outside of the US and now want to move to Silicon Valley, there are US visa options for international founders. What can you do? Immigration attorneySophie Alcorn runs through the options.
In a conversation with Jordan, Brian Chesky talked about what changed and why.
The $20 million Series A Deck has a time limit. Can every pitchdeck pull off 14 photos of adorable animals? Probably not. This one can be very good for Haje.
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