Daily Crunch: With Musk’s purchase completed, NYSE will delist Twitter stock on Election Day

Christine Hall@christinemhall / 1:05 AM UTC+3•October 29, 2022

Every day at 3 p.m., you'll get a rundown of the biggest and most important stories from the site. Don't forget to subscribe here.

It's Friday and I'm happy! I am running alone because Haje is on the East Coast. As you can see from the not-so-surprising move by Musk last night and the sheer number of stories from the consumer tech team today, it has been all on the social media platform. We will give you a bit of that and a bit of what we have been working on. Christine asked if we would dive in.

The TechCrunch Top 3

• Flying the public coop: Now that Elon Musk owns Twitter, its days are numbered as a public company. In fact, Ivan writes, Twitter will be delisted on November 8 — voting day for the U.S. midterm elections.
• Caging the bird: Over to Europe, where just a few hours into actually owning Twitter, Musk already found himself on the wrong end of European Union officials, who corrected him after he tweeted about how free he thinks Twitter is now. Natasha L has more.
• Big Tweet Chief: Reports now say that Musk will take the CEO role for himself, Ivan writes, after he ousted Twitter’s four top executives, as reported by Amanda. 

You can find more information on the blue bird in the Big Tech Inc section.

Startups and VC

The hits keep coming for 54gene, a startup focused on providing more African genetic material to pharmaceutical research. After some months of layoffs and a CEO exit, the company confirmed that it not only made yet another round of layoffs, but also slashed its valuation by over 100 million dollars.

We have more for you.

• Robot riot: Galen Robotics has a new robot that will assist with ear, nose and throat surgeries. Oh, and it secured $15 million in new funding, Andrew reports.
• Follow the yellow brick road: Game studio Hidden Door is using narrative AI to turn fiction into immersive role-playing experiences, and Rebecca writes it is testing out “The Wizard of Oz.”
• Does anyone else use this word?: I was delighted to see that there is a company named Skidattl. The company is using augmented reality to show users what people are doing around them, in what Rebecca writes is “like a Bat-Signal for fun.”

5 ways biotech startups can mitigate risk to grow sustainably in the long run

The image is called jayk7 and it opens in a new window.

Life science companies are able to bring their capital-intensive products to market thanks to R&D and clinical trials.

When the funding suddenly dries up, what happens?

He wrote a guest post about how to stay warm in the cold.

It is not yet known if this is a short-term correction or a new normal.

5 ways biotech startups can mitigate risk to grow sustainably in the long run

There are three more people from the team.

The membership program helps startup teams get ahead of the game. This is where you can sign up. You can get a 15% discount on an annual subscription.

Big Tech Inc.

We have more news for you to digest. Several of my colleagues talked about this on the social networking site. One of the latest bits of news from Taylor was that Musk was forming a content moderation council to make certain decisions. There are two more.

You should be catching up on more earnings reports.

We have more for you.

The best way to remove plastics from the ecosystem is to make sure they never get there in the first place, and Cruz Foam is well on its way to replacing some of the worst ones out there with its n...NASA said Friday that its Psyche mission (named after the asteroid the mission is targeting) has been rescheduled to October next year. The news comes just a few months after the agency announced t...Lo, the day is upon us: Elon Musk owns the bird app and all that comes with it. Musk’s $44 billion Twitter acquisition has closed, and he fired most of the top people in charge and is now bus...Elon Musk has only been in control of Twitter for a short time, but he’s already making big moves. Musk fired a number of key executives on day one, including Twitter CEO Parag Agrawal, but i...In a quarter of downright horrible earnings reports, ServiceNow stuck out with a positive report that got investors excited. San Francisco is no longer the center of the startup universe, and it hasn’t been for a while. In total, 1.5% of all venture dollars so far in 2022 have been allocated to Latin American-founded companies, a drop from 2.5% last year, according to a Crunchbase analysis. Meta and Snap’s falling values change the calculus of Elon Musk’s Twitter purchase. How does the deal look now? While cloud infrastructure revenue growth slowed, much of that could be attributed to external factors like the strong dollar. India will set up one or more grievance committees to oversee content moderation decisions of social media firms, it said today, moving ahead with a proposal that has rattled Meta, Google and Twitt...Capital is the fuel that advances scientific and technological innovation, but what do you do when the funding suddenly dries up? Hello and welcome back to Equity, a podcast about the business of startups, where we unpack the numbers and nuance behind the headlines. We hope that you are in good form this Friday, alive, well a...Medical devices and robots have been making their way into operating rooms in an increasing number of procedures. Now a new robot is trying to forge its path in the OR and assist surgeons who donn&#...Uniswap’s Mary-Catherine Lader, Visa’s Cuy Sheffield, and Brett Harrison, former president of FTX, said at TechCrunch Disrupt that it’s still a great time to build a crypto startu...U.S. messaging giant Twilio confirmed it was hit by a second breach in June that saw cybercriminals access customer contact information. Confirmation of the second breach — carried out by the same ...Twitter’s stock will be delisted from the New York Stock Exchange on November 8, according to a new filing with the U.S. Securities and Exchange Commission. This comes a day after Elon Musk c...After Elon Musk completed his Twitter takeover, multiple reports and tweets from company employees suggested that he fired CEO Parag Agrawal, CFO Ned Segal, general counsel Sean Edgett and head of ...