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All my friends,
The Daily Crunch is Wednesday, September 8, 2021. Alex is still not home so I will be steering the ship for a few days more while (I hope), he stares at trees or the ocean or any other thing but words on a screen. Alex, please switch to airplane mode on your phone and do something awesome if you are reading this. Greg
TechCrunch Top 3
Wright tests the electric engine for passenger airplanes. Electric cars don't have to take off like electric planes. The current battery technology is too heavy to allow existing engines to lift off in the air effectively. Devin Coldewey profiles Wright, an electric engine startup that aims to solve this problem by producing more thrust with less energy. It is currently being tested at sea, and plans to fly it next year.
Electric planes have to overcome challenges that electric cars don't, such as the need to lift off the ground. The current battery technology is too heavy to allow existing engines to lift off in the air effectively. Devin Coldewey profiles Wright, an electric engine startup that aims to solve this problem by producing more thrust with less energy. It is currently being tested at sea level. They plan to fly it next year. Howard University cancels classes following ransomware attack. Snow Crash Day
Sorry, class! Lessons are canceled because we got hacked. Snow Crash Day SEC threatens lawsuit against Coinbase: It looks like there's a little bit of a fight potentially brewing between Coinbase and U.S Securities and Exchange Commission. Coinbase plans to launch a service where users can lend crypto assets to a lending pool to earn interest. However, Coinbase is aware that similar services have been launched by other companies. According to Coinbase CEO Brian Armstrong the SEC was given a heads-up by Coinbase. This led to them threatening to sue Coinbase should it move forward.
Startups/VC
Manish Singh writes about the credit card with a limit of $27: India's credit-rating system is still relatively new. A small percentage of Indians have access to credit cards, which is why it's not easy for them to get one. Slice, a startup based in Bangalore, wants to help young people build credit slowly by offering a card that has a limit of 2,000 Indian rupees, or approximately $27.
Manish Singh writes that India's credit-rating system is still relatively new and only covers a small fraction of its population. A small percentage of Indians have access to credit cards, which is why it is so difficult for them to get one. Slice, a startup based in Bangalore, wants to help young people build credit slowly by offering a card that has a limit of 2,000 Indian Rupees (or about $27). TikTok has remixed the idea of the remix. Users can take another user's video and make their own. Mayk.it is a new social network that was founded by TikTok/Snap alumni. It aims to put the music center. One user creates a beat and others add vocals. Then everyone crosses their fingers to make a hit. This week, the app was launched. It also announced that it had raised $4million in seed funding.
TikTok reinterpreted the idea of the remix by allowing users to use another user's video and make their own. Mayk.it is a new social network app that was founded by TikTok/Snap alumni. It aims to put music back in the spotlight. One user creates a beat and others add vocals. Then everyone crosses their fingers to make a hit. This week, the app was launched. It also announced that it had raised $4million in seed funding. PayPal purchases Paidy for $2.7 billion This is how much PayPal is selling Paidy, a Japanese popular buy-now, pay-later service. Kate Park writes that PayPal should make deferred payments in Japan, which she claims is the third-largest e-commerce country in the world.
Debt or equity? When are non-traditional funding options appropriate?
Many potential founders are very familiar with startup economics, while others are still relatively new to the field.
Understanding the differences between equity and debt financing is essential knowledge when raising funds.
Founders who are more willing to compromise their control may be open to debt financing, but this is not the right choice for all, according to David Friend, a six-time entrepreneur.
(Extra Crunch) Our membership program that helps founders and startups get ahead. Sign up here
Big Tech Inc.
Microsoft launches a personalized news site: Microsoft Start is a new service that aggregates news content from all your favorite news sources. To tune the algorithm, you can thumbs up/down on items. The world needs more robots telling it what to read. Google Reader is missing from my life.
Microsoft Start is Microsoft's attempt to take on Apple News/Flipboard with Microsoft Start. This site/app aggregates content from all your favorite news sources. To tune the algorithm, you can thumbs up/down on items. The world needs more robots telling it what to read. Google Reader is missing me. Google offers Spaces to all: Google changed the name of its built-for work toolset, G Suite, to Google Workspace last year. It also began testing new features to improve the many Workspace tools (Gmail Docs, Docs and Meet). It also began testing new features that make the myriad Workspace tools (Gmail, Docs, Meet, etc.) more efficient. These features are now available to everyone.
Google Workspace was rebranded last year as its built-for work toolset, from G Suite to Google Workspace. It also began testing new features to make the many Workspace tools (Gmail Docs, Docs and Meet) more useful. It also began testing new features that make the myriad Workspace tools (Gmail, Docs, Meet, etc.) more efficient. These features are now available to all users as of today. Twitter is currently testing large ol full width photos and videos. While this result seems good to us, it is likely that any change in Twitter's design will inspire a vocal subset to hate-tweet about the changes for a day before they forget all about them altogether. Taylor Hatmaker sums it up so well.
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