Hyundai to Offer Hydrogen Fuel Cell Vehicles by 2028 - Daily Crunch

Daily Crunch: September 7, 2021

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Greetings, and welcome to the Daily Crunch for Tuesday, September 7, 2021. Alex Wilhelm, your usual host, is currently away from his duties. Therefore, I (Greg Kumparak) will be managing the newsletter in his absence.

While Alex may possess greater intelligence, kindness, and overall character, I can at least offer the advantage of not being on vacation at this time. I will strive to provide the best possible coverage.

A Long Weekend Recap

Much of the TechCrunch team enjoyed an extended break, encompassing both Labor Day and an additional company-wide holiday. This extra day was granted to commemorate the arrival of new leadership within the organization.

Let’s now review the key developments that have occurred since Alex last authored this newsletter.

The team benefited from a longer-than-usual weekend, combining Labor Day with a company-wide day off. This was given to celebrate the onboarding of new executives.

We will now examine the important events that transpired during Alex’s time away.

TechCrunch's Leading Three Stories

Recent developments highlight key events in the tech and automotive industries. These include a privacy challenge for ProtonMail, advancements in Volkswagen's autonomous driving program, and Hyundai's significant investment in hydrogen fuel cell technology.

ProtonMail and User Data Disclosure

ProtonMail, a provider focused on user privacy, was compelled to log a user’s IP address. Despite its commitment to data protection, the company operates within the legal framework of Switzerland and was ultimately required to comply with a request from French authorities.

Initially, ProtonMail resisted the demand for information. However, compliance became necessary when the request was channeled through Swiss police via Europol. A comprehensive account of this evolving situation can be found in the linked article.

Volkswagen's Progress in Autonomous Driving

Volkswagen’s commercial vehicle division is collaborating with Argo AI to develop self-driving technology. A near-final version of their initial test vehicle was demonstrated recently.

Argo AI is a company to monitor within the autonomous vehicle sector. They are also partnering with Ford on a self-driving project intended for use with Lyft. The company’s valuation reportedly reached $12 billion in July.

Hyundai's Commitment to Hydrogen Fuel Cells

Hyundai is making a substantial commitment to hydrogen fuel cell technology. The company announced plans to offer hydrogen fuel cell versions of its entire commercial vehicle lineup by 2028.

While continuing to develop electric vehicles, Hyundai aims to achieve cost parity between hydrogen fuel cells and EV batteries by 2030. This demonstrates a strong belief in hydrogen’s potential as a future fuel source.

Startups and Venture Capital Updates

Much of the previous week was dedicated to reporting on Y Combinator’s Demo Day, an event where a significant number of startups – truly, hundreds – presented themselves to potential investors.

The event has expanded to the point where it now encompasses multiple Demo Days. If you haven’t yet done so, review our reports on Day One and Day Two for comprehensive coverage.

Notable Funding Rounds and Developments

• OLIO Secures $43M to Tackle Food Waste: Do you have surplus food items? The OLIO platform allows users to photograph and share these with nearby individuals, aiming to minimize waste. The viability of this concept as a substantial business venture is explored by Mike Butcher, along with insights into the founders’ and investors’ strategies for success.
• Wave Achieves Africa’s Largest Series A Funding: Tage Kene-Okafor details the impressive achievements of Wave, an African fintech company. The company recently secured a $200 million Series A round – the largest of its kind in Africa to date – and, with a valuation of $1.7 billion, has become Francophone Africa’s first unicorn.
• Homage Gains $30M for In-Home Healthcare: Homage, a Singapore-based company simplifying access to in-home caregivers, nurses, and doctors, announced a $30 million funding round this week. Given the current preference for avoiding crowded medical waiting rooms, it’s reasonable to assume that demand for in-home care services is experiencing considerable growth.

These developments highlight the continued dynamism within the startup ecosystem and the increasing investment in innovative solutions across various sectors.

Optimizing Your Equity: A Founder's Guide to Options Pool Management

According to Allen Miller, principal at Oak HC/FT, options currently hold greater value than direct cash compensation in the present market.

Consequently, skillful management of your company’s option pool represents a pivotal strategy for attracting and keeping top-tier personnel.

This guidance is specifically tailored for founders of early-stage companies, outlining effective methods for safeguarding equity, identifying common pitfalls, and providing actionable advice for rectifying earlier missteps.

Miller details best practices to ensure founders can effectively navigate the complexities of equity allocation.

He highlights frequent errors made by founders and proposes solutions for adjusting strategy if initial decisions proved suboptimal.

(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.

Several noteworthy developments have recently occurred within the major technology companies. These updates span infrastructure challenges, pricing adjustments, and upcoming product announcements.

Animoto and AWS Infrastructure

A compelling account details how Animoto, a video creation platform, nearly overwhelmed Amazon Web Services (AWS). This occurred due to a rapid surge in users.

In 2008, Animoto experienced exponential growth, expanding its user base from 25,000 to 250,000 in a remarkably short period. This substantial increase in activity placed significant strain on AWS infrastructure.

The story, as recounted by Ron Miller, highlights the challenges of scaling to meet unexpected demand. Even the robust AWS platform exhibited signs of stress during this period of intense usage.

Hulu Price Increase

Hulu has announced an adjustment to the pricing of its on-demand subscription plans. The increase, however, is less substantial than a previous hike affecting its live TV service.

Both the ad-supported and ad-free versions of Hulu will see a $1 increase in monthly cost. This will bring the prices to $7 per month and $13 per month, respectively.

The new pricing structure is scheduled to take effect on October 8th of this year and will apply to all subscribers, both current and new.

Apple's Upcoming Event

As is customary in September, Apple is preparing to unveil its latest products, with a new iPhone anticipated to be the centerpiece. Official invitations have been dispatched for an event on September 14th.

Speculation suggests that the new iPhone will feature an improved display with a faster refresh rate. TechCrunch will provide comprehensive coverage of the event as soon as announcements are made.

The tech community eagerly awaits details regarding the advancements and features of Apple’s forthcoming device.

TechCrunch Seeks Growth Marketing Professionals

TechCrunch is currently soliciting recommendations for accomplished growth marketers.

These professionals should demonstrate proficiency in areas such as SEO, social media marketing, and content creation.

Growth Marketer Survey

If you are a growth marketer, please share this survey with your clients.

We are interested in gathering feedback regarding the positive experiences clients have had while collaborating with you.

Coverage Insights

Those interested in understanding how these surveys influence TechCrunch’s reporting can review an interview conducted by Anna Heim.

The interview features MuteSix, a performance marketing agency, and details their strategy centered around content and data-driven approaches to enhance direct-to-consumer e-commerce businesses.

The article, titled “Performance marketing agency MuteSix bets on content and data to boost DTC e-commerce,” provides valuable insights.