Hey all. Welcome again to Week in Overview, the publication the place we recap a number of the prime tales to cross TC’s entrance web page during the last 7 days.
Probably the most learn story on our website this week was about Flowcarbon — a recent firm and “blockchain-based redemption story” (as Anita put it) launched by WeWork founder Adam Neumann. The aim, writes Anita, is to “promote tokenized carbon credit to firms trying to scale back their carbon footprint,” to which the one response I can consider is that Jennifer Lawrence “okay” gif.
Why is it on the blockchain? What’s a “Goddess Nature Token”? Discover in Anita’s publish right here, then take heed to Lucas and Anita go deep on the subject on this week’s Chain Response podcast.
Listed here are a number of the different most learn TC tales from this week:
Jack Dorsey steps down from Twitter’s board: For the primary time since its founding in 2006, co-founder Jack Dorsey isn’t any longer formally concerned within the operation of Twitter. Late final yr, he stepped away from the CEO function however remained on the corporate’s board of administrators. As of Might 25, he has exited the board as nicely.
Broadcom will purchase VMware for an enormous $61B: After just a few days of rumors, Broadcom introduced its plans to accumulate VMware for a wild $61 billion. Ron’s acquired all the main points of the deal — and as for why the chipmaker would drop that a lot on the virtualization firm? Ron and Alex have you ever lined there, too.
Take-Two buys Zynga: The guardian firm behind video games like Grand Theft Auto and BioShock now owns the corporate behind video games like FarmVille and Phrases With Buddies. We’ve identified for some time that this was within the works, however the $12.7 billion deal was all finalized this week.
Extra tech layoffs: One other week of firms asserting or confirming layoffs — together with cuts at Klarna, PayPal and grocery supply firms Getir and Gorillas.
Google’s reply to DALL-E: Simply final month, OpenAI confirmed off “DALL-E 2” — its AI mannequin able to taking a textual content immediate like “Shiba Inu carrying a beret” and producing a completely recent picture from it. Now Google says they’ve acquired their very own algorithm that’s even higher — however, outdoors of comparability pictures Google supplies (which, naturally, embody extra Shiba Inu in hats), we’ll need to take the corporate’s phrase for it. Citing “potential dangers of misuse,” Google isn’t at present releasing any code or public demos.
We’ve got a paywalled part of our website referred to as TechCrunch+. It solely prices a couple of bucks a month and it’s filled with very good things! From this week, for instance:
Know your potential investor’s thesis: Received a strong enterprise and a refined pitch deck, however nonetheless getting turned down by traders? “Lots of the time, it doesn’t matter how good your organization is,” writes Haje. “What issues is whether or not it matches up along with your investor’s funding thesis.”
U.S. hashish traders on why they’re planting seeds now: Leisure hashish use is slowly turning into authorized in increasingly more states — but it surely’s nonetheless unlawful at a federal degree, which deeply complicates issues when it’s the core of your online business. Anna Heim checked in with 4 U.S. hashish traders for his or her ideas on the state of the business, and what’s conserving it from actually catching hearth.
It’s not enterprise as typical (and traders are admitting it): After Y Combinator’s memo suggesting founders “plan for the worst” within the months forward, traders are echoing that sentiment in memos of their very own. Natasha Mascarenhas takes a take a look at memos from Attain Capital, Lightspeed ventures and extra.