Another week of job slashes and crypto crashes – TechCrunch

Hello buddies!

Welcome again to Week In Overview, the e-newsletter the place we wrap up most of the prime tales to cross TechCrunch’s entrance web page during the last seven days.

The large factor this week — a minimum of primarily based on what our backend suggests readers cared about most — was the crypto market plunging onerous and quick. Bitcoin is down over 25% month-over-month, from round $41k per BTC to round $30k on the time I’m penning this. Ethereum is down over 30% in the identical timeframe — from round $3,100 per ETH to round $2,000.

Why? For that I defer to Lucas and Anita and their new podcast/e-newsletter Chain Response. Any time I write about cryptocurrency I are likely to really feel dumb and flawed inside about 48 hours — luckily, the Chain Response workforce has a a lot higher grasp on these things than I do. This week they sat down with repeat-founder-turned-investor Kevin Rose, who says that is his “tenth or so” crypto downturn, for some insights.

My aim with Week In Overview is to maintain you all feeling knowledgeable — to make it in order that, whenever you click on in on the finish of a busy week, you possibly can skim WiR and really feel such as you’ve obtained a reasonably good sense of what occurred in tech. So let’s dive in!

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Picture Credit: Google

Apart from a crypto crash, what else occurred this week? Tons.

Google I/O occurred!: Whether or not everybody’s over shopping for a brand new cellphone yearly or we’re all simply centered on the million different issues occurring proper now, it felt like Google’s annual convention/keynote simply kinda… got here and went. Whereas Google saved rather a lot of the particular particulars beneath wraps, the massive information out of the present was early glimpses of a brand new Pixel cellphone, a brand new “Professional” line of Pixel ear buds, and enhancements to Google Maps, Assistant, and Translate. Oh, and Google’s lastly making their very own smartwatch! Oh, oh, they usually’re nonetheless taking part in with the thought of Google Glass. I don’t put on glasses (but), however the stay, real-world subtitles on this idea video would have me rocking a pair in a heartbeat.

Extra tech layoffs: Sadly, the latest development of tech layoffs continues. Over the previous few weeks we’ve seen layoffs from Robinhood, Netflix, Thrasio, Cameo, OnDeck, and MainStreet. This week that checklist grew to incorporate Carvana, Latch, DataRobot, and Section4. In the meantime, various large tech cos. introduced that they’re slowing or outright freezing hiring. Amanda and Natasha have the complete breakdown.

Instagram is testing NFTs: Due to course they’re. Bear in mind when Instagram was only a place the place we’d spend approach an excessive amount of time taking sepia-toned photos of our breakfast and that was sufficient?

Tiger International has almost depleted its newest VC fund: Properly, that was quick. In March of this yr, Tiger International closed its newest enterprise fund with a huge $12.7 billion in commitments. Simply months later, Connie Loizos writes “that new fund — which reportedly took lower than six months to boost and consists of $1.5 billion in commitments from Tiger International’s personal workers — is sort of totally invested already.”

DJI’s Mini 3 Professional: DJI has a brand new drone, and TC’s Darrell Etherington is a fan thus far (with the caveat that he largely recommends the most costly possibility, which is a number of hundred bucks greater than the $669 base mannequin).

Row, row, row your… Peloton?: The corporate greatest identified for its train bikes (and extra just lately treadmills) has a brand new piece of at-home train {hardware} within the works: a rowing machine. Whereas it seems like rowing machines are having a little bit of a second proper now, it’s onerous to think about that this alone turns issues round for Peloton after an extremely tough quarter — however, as Brian Heater places it, it’s a minimum of “a vivid spot” for the corporate after a streak of unhealthy information.

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Picture Credit: Bryce Durbin/TechCrunch

Now we have a paywalled part of our website referred to as TechCrunch+. It prices a couple of bucks a month and it’s stuffed with excellent stuff! From this week, for instance:

US Visa choices for worldwide founders: So that you began your organization outdoors of the US and now you need to transfer to Silicon Valley. What are you able to do? Immigration legal professional Sophie Alcorn runs by way of the choices.

Why Airbnb is reinventing itself: Airbnb went by way of a significant overhaul this week, in a transfer that CEO Brian Chesky calls a “top-to-bottom improve.” Jordan Criminal sat down with him to study what modified and why.

Dutch’s $20M Collection A Deck: It’s pitchdeck teardown time! Haje takes a have a look at the deck utilized by pet telemedicine platform Dutch to boost a $20M Collection A. Can each pitchdeck pull off 14 photographs of lovely animals? Most likely not. However this one can, a lot to Haje’s delight.