Apple and Google Comply with Russian Demands

Daily Crunch: September 17th

Greetings and welcome to Daily Crunch for Friday, September 17th. This week has been quite eventful. With Disrupt fast approaching, a palpable energy is building within the TechCrunch team.

It’s worth highlighting that Reid Hoffman will be attending the event, promising a particularly insightful experience for all involved.

Looking Ahead

We anticipate a dynamic and engaging Disrupt conference. Further updates and details will be shared as the event draws nearer.

Join us next week for more coverage and insights. — Alex

TechCrunch's Leading Three Stories

The prioritization of financial gain over ethical considerations is evident, as Apple and Google have both taken down a “tactical voting application” developed by the organization supporting imprisoned Russian opposition leader, Alexei Navalny, as previously covered.

This action coincides with increased pressure from the Russian government on major technology companies in advance of upcoming federal elections, according to TechCrunch.

Software Valuation Trends

Questions are emerging regarding whether software valuations are beginning to stabilize. Following a period of substantial growth, the multiples assigned to software revenues may be approaching a peak.

Despite this potential plateau – which remains at a significantly elevated level – this development isn't necessarily detrimental to SaaS companies.

Apple's Response to the Texas Abortion Law

Apple is “actively monitoring” the ongoing legal challenges related to the recently enacted Texas abortion law.

While several tech companies have publicly expressed their opposition to the new reproductive care legislation, Apple is adopting a more measured and discreet strategy.

Nevertheless, it is encouraging to observe a major American technology firm demonstrating a willingness to address a moral issue, even if the extent of that engagement remains limited.

This represents a positive, albeit modest, step forward.

Startup Funding & Venture Capital Updates

Recent investment activity highlights emerging trends in several sectors. These include mental health, space technology, and sales enablement.

Psychedelic Therapy Investment

Journey has secured $3 million in funding to advance research into psychedelic therapy. The company is focused on utilizing Ketamine-based treatments to address conditions like anxiety and depression.

This funding round reflects increasing acceptance of the potential therapeutic benefits of substances traditionally associated with recreational use.

Satellite Propulsion Technology

Aurora Propulsion has raised €1.7 million to develop advanced satellite propulsion systems. The core challenge addressed is precise satellite maneuvering and collision avoidance in increasingly crowded orbits.

With a record number of satellite launches anticipated this year, effective propulsion solutions are becoming critical for maintaining space safety.

Sales Intelligence Tools

Aircover has received an additional $3 million in funding for its sales intelligence tool. The platform integrates with Zoom to deliver real-time insights to sales professionals during customer interactions.

This investment underscores the growing demand for technology that empowers sales teams and enhances their performance. Defy Partners and Firebolt Ventures participated in the round.

The Changing Landscape of Unicorn Liquidity

A notable trend is emerging regarding the timeline for unicorn companies to go public. The extended wait for initial public offerings (IPOs) is leading former executives to transition into venture capital roles before achieving liquidity.

As an example, Sagar Sanghvi, former CFO of Instacart, has joined Accel, demonstrating this shift in career paths.

This phenomenon suggests a potential reshaping of the venture capital landscape as experienced operators from high-growth companies enter the investment world.

Maximizing Lead Generation: Utilizing ROAS for Triple Growth

The practice of replicating successful strategies is not only accepted but actively promoted within the business world, contrasting sharply with academic standards.

Xiaoyun TU, serving as the global director of demand generation at Brightpearl, has authored an in-depth guide detailing how enhanced comprehension of return on advertising spend (ROAS) can lead to a threefold increase in a company’s lead generation efforts.

According to TU, the definition of a satisfactory ROAS score is unique to each organization and the specific campaigns they undertake.

Should your current ROAS not meet expectations, data analysis can be employed to develop precisely targeted campaigns and deliver personalized customer experiences.

(Access to exclusive insights and resources for founders and startup teams is available through Extra Crunch, our membership program. Registration can be completed here.)

Big Tech Inc.

Recent developments highlight contrasting approaches within the technology sector, particularly concerning international relations and internal awareness of platform impacts.

Elon Musk's Comments on Chinese Automakers

Elon Musk has publicly commended Chinese automotive manufacturers as the Chinese government actively works to strengthen its domestic electric vehicle (EV) industry.

These statements, delivered in a prepared manner, offer a stark contrast to the Tesla CEO’s often-unpredictable public communications, especially when compared to his activity on social media platforms.

The divergence in messaging underscores the differing business environments present in China versus the United States.

Facebook and Instagram's Impact on Teenagers

A critical headline emerged recently: “Facebook knows Instagram harms teens. Now, its plan to open the app to kids looks worse than ever.”

This revelation builds upon extensive reporting by the Wall Street Journal, which has published a series of impactful articles detailing the internal understanding within Facebook regarding the negative effects of Instagram on adolescent mental health.

The Journal’s investigations have been particularly insightful and revealing regarding this issue.

TechCrunch Insights: Perspectives on Growth Marketing

daily crunch: apple, google bow to russian pressure

As the launch of iOS 15 approaches, insights were gathered from Vivek Sharma, CEO of Movable Ink, regarding preparations for marketers. Sharma advises that marketers should anticipate a greater need for self-service metric tracking as iOS 15 is implemented.

TechCrunch is actively seeking recommendations for accomplished growth marketers specializing in areas such as SEO, social media, and content creation.

Seeking Growth Marketing Recommendations

Growth marketers are encouraged to share a survey with their clients. The goal is to collect feedback detailing positive client experiences and the value provided by these marketing professionals.

This initiative aims to highlight successful growth marketing strategies and the experts behind them.