poly Y Combinator Startup Poly Builds AI Stock Library for Game Assets Poly offers a generative AI platform that creates 3D textures and virtual assets from text prompts, acting as an AI-only alternative to traditional stock image libraries.
saas Private SaaS Startups Drastically Slow Hiring to Extend Runway A new study of 150 private B2B SaaS startups reveals that headcount growth drops to just 2% as companies brace for tough economic times. Another wave of layoffs is likely early next year if macroeconomic conditions do not improve.
twitter Twitter Permanently Bans Elon Jet Account Despite CEO's Free Speech Promise Twitter permanently suspends the Elon Jet account that tracks Elon Musk's private flights, directly contradicting the CEO's earlier free speech promises. Meanwhile, Apple reportedly prepares to allow alternative app stores on iOS 17 to comply with European regulations.
plaid High-Valued Fintech Giants Face Reality as Layoffs Continue Plaid joins a growing list of highly valued fintech companies slashing jobs after over-hiring during the pandemic boom. Executives admit they invested ahead of revenue growth that simply did not materialize.
kite Kite's Collapse Highlights Major Hurdles for AI Coding Tools The sudden shutdown of AI coding startup Kite reveals massive financial and technical barriers in the generative code industry. Competitors face steep development costs and ongoing monetization challenges despite strong initial interest.
theranos Theranos Executive Sunny Balwani Receives 13-Year Prison Sentence for Fraud Former Theranos COO Ramesh "Sunny" Balwani receives a 13-year prison sentence after a jury convicts him on all 12 criminal fraud charges. The punishment closely mirrors the 11.25-year sentence given to former CEO Elizabeth Holmes.
ai New AI Tool Smartynames Generates Domain Ideas From Business Descriptions Smartynames is a free service that uses OpenAI's GPT-3.5 to generate available domain names based on simple business descriptions. The tool aims to save entrepreneurs hours of brainstorming by automatically expanding core concepts into viable web addresses.
lensa ai Lensa AI Avatar App Raises Alarms Over Nonconsensual Image Generation The popular Lensa AI avatar app faces intense scrutiny after users discover it generates nonconsensual explicit images with minimal effort. Meanwhile, Robinhood launches a unique 1% match retirement account for gig workers.
taur Taur Targets Daily Commuters With Bold Front-Facing Scooter Design Taur co-founder Carson Brown leverages years of personal micromobility experience to design a front-facing electric scooter aimed at replacing cars and public transit.
climate tech Veteran Investor Says Climate Tech Defies Broad Venture Market Downturn Despite a general venture market decline, climate tech investments rise significantly as veteran investor Dan Goldman emphasizes the importance of cash management and lifecycle analysis for startup success.
chatgpt TechCrunch Writer Tests ChatGPT to See If AI Replaces Journalists A TechCrunch journalist tests OpenAI's new ChatGPT conversational tool to determine if the generative AI technology threatens their job, finding it impressive but not yet capable of replacing human analysis.
apple BeReal Takes Top Honors in Apple's 2022 App Store Awards Apple names BeReal its 2022 App of the Year, highlighting the photo-sharing app's massive impact on social media. Meanwhile, African restaurant tech startup Orda raises $3.4 million and Indian fintech CRED acquires CreditVidya.
saas Bootstrapped SaaS Startups Outpace Venture-Backed Rivals in Efficiency A new report from Capchase reveals that bootstrapped SaaS companies currently outperform VC-backed startups across nearly every efficiency metric. These self-funded businesses maintain stronger margins and steady revenue growth despite recent economic headwinds.
crypto Crypto Venture Funding Declines Sharply But FTX Impact Remains Unclear Venture capital funding for blockchain and cryptocurrency startups drops for the third consecutive quarter as the industry navigates a series of high-profile collapses. Despite the downward trend, investors and builders continue to show resilience in the web3 space.
tech layoffs Tech Layoffs Accelerate as Major Companies Slash Thousands of Jobs Recent weeks bring a massive surge in tech industry layoffs, with the known number of impacted workers jumping by 46% in just a few weeks. Experts warn that the worst of these workforce reductions likely arrives in early 2023.