Lucid Air EPA Range: 520 Miles - Tesla Challenged

Daily Crunch: September 16, 2021

A daily summary of TechCrunch's most significant and impactful news is delivered to inboxes each day at 3 p.m. PDT. You can subscribe to this roundup here.

Welcome and Disrupt Update

Greetings, and welcome to the Daily Crunch for September 16, 2021. Preparations for Disrupt are ongoing, and it’s important to secure your ticket.

Don't forget to prepare your pitch deck for submission. The opportunity to present is fast approaching!

Looking Ahead

Excitingly, the agenda includes ventures extending beyond Earth. We are preparing for coverage of developments in space exploration!

— Alex

TechCrunch's Leading Three Stories

Recent reports indicate a surprising investment trend from Tiger capital. While known for software investments, the fund is now expanding into physical products, as detailed by Brian Heater.

Analyzing the Startup Surge

TechCrunch recently analyzed the second quarter venture capital activity. The investigation focused on identifying potential factors that could halt the current growth trajectory of the startup ecosystem.

The findings suggest a remarkable level of stability within the startup market. This resilience isn't solely attributable to inherent strengths, but also external influences.

Increased Government Oversight of Data Breaches

The U.S. Federal Trade Commission (FTC) is strengthening regulations concerning data security. Companies handling personal health information are now mandated to inform consumers of any data breaches or unauthorized third-party sharing.

This new directive reinforces consumer rights and data privacy. It raises questions as to why such a standard wasn't consistently enforced previously.

Key takeaway: The FTC's actions demonstrate a growing commitment to protecting sensitive user data.

• Tiger's Diversification: The venture capital firm is venturing beyond software, investing in tangible goods.
• Startup Market Stability: Despite rapid growth, the startup landscape appears surprisingly robust.
• FTC Enforcement: New rules require transparency regarding health data breaches and sharing practices.

Startups/VC

A significant event hosted by Apple this week continues to generate discussion within the technology sector, particularly concerning the naming of their latest device – the iPhone 13, bypassing the expected iPhone 12S. Regardless of individual perspectives, Apple’s substantial influence is demonstrably impacting other areas of the market.

This is particularly evident in the competitive landscape for device tracking solutions. The introduction of AirTags by the Cupertino-based company has directly challenged established players like Tile, a prominent startup in the field.

Tile has responded by securing $40 million in new funding, signaling its commitment to continued competition.

Recent Funding Rounds

• Fiberplane Secures Funding for SRE Tooling: Specializing in software tailored for specific markets is currently a popular strategy. Fiberplane is developing a collaborative document-style platform, similar to Google Docs, but specifically designed for site reliability engineers (SREs). The company recently raised $8.8 million in funding.
• CodeSignal Attracts Further Investment: The company is focused on improving the developer hiring process by emphasizing skill-based assessments over traditional credentials. Investors have contributed $50 million to CodeSignal, following a previous $25 million investment less than a year ago.
• Self Financial Continues to Grow: The company is dedicated to assisting consumers in simultaneously building both credit and savings. A $50 million Series E funding round was led by Altos Ventures, highlighting the ongoing venture interest in credit-building solutions.
• Byju’s Expands with Tynker Acquisition: The $200 million acquisition of Tynker will facilitate Byju’s expansion within the United States market. This move demonstrates the Indian company’s confidence in the edtech sector, especially in light of recent regulatory changes impacting startups in China.
• Open Mineral Raises Series C: The company aims to increase transparency within global commodities trading. Improved transparency leads to more accurate price discovery and a more efficient market. Open Mineral recently completed a $33 million Series C funding round.

The name Open Mineral is particularly fitting, given the company’s objective to bring clarity to the global commodities markets.

Facilitating the Adoption of New HR Technology for Hiring Managers: Three Key Strategies

A common human tendency is to rely on intuition when making important decisions, especially in the realm of recruitment. However, leveraging automated tools can significantly improve the hiring process.

Startups often struggle with unstructured hiring practices, leading to inadequate candidate tracking and inconsistencies in candidate experience. This can also inadvertently introduce bias into the selection process.

While a degree of skepticism towards automated hiring solutions is understandable, complete disregard for their potential benefits is unwise.

Understanding the Resistance

Hiring managers may resist new HR tech due to concerns about losing control or a lack of understanding regarding the tool’s functionality. Addressing these concerns proactively is crucial.

It’s important to demonstrate how these technologies can augment, rather than replace, their expertise. The goal is to streamline tasks and improve decision-making, not to diminish the role of the hiring manager.

Strategy 1: Focus on Pain Points

Instead of presenting new technology as a complete overhaul, highlight how it solves specific problems hiring managers currently face.

For example, if managers spend excessive time screening resumes, demonstrate how an AI-powered tool can automate this process, freeing up their time for more strategic activities like interviewing.

Strategy 2: Provide Comprehensive Training

Effective training is paramount to successful adoption. Training should be tailored to the specific needs of hiring managers and focus on practical application.

Consider offering hands-on workshops and ongoing support to ensure they feel comfortable and confident using the new tools. User-friendly interfaces and clear documentation are also essential.

Strategy 3: Showcase Early Wins

Identify early adopters within the hiring team and showcase their successes with the new technology.

Positive testimonials and demonstrable improvements in key metrics, such as time-to-hire or quality of hire, can build momentum and encourage wider adoption. This creates a positive feedback loop.

(Extra Crunch is our membership program designed to empower founders and startup teams. Registration is available here.)

Big Tech Inc.

Recent data suggests that Twitter's Super Follows feature may not be achieving significant financial success.

Its initial performance appears underwhelming, raising concerns that it could be discontinued, similar to the fate of Fleets.

Are you currently utilizing the Super Follow feature? We'd like to hear about your experience.

Ford's Investment in Electric Trucks

Ford is significantly increasing its investment in the production of its electric F-150 truck.

This move demonstrates the company’s strong belief in the long-term viability of electric vehicles, as reported by TechCrunch.

Ford’s commitment signals that EVs have firmly entered the mainstream automotive market.

Lucid Air's Range Achievement

Lucid Air has achieved the distinction of having the longest range of any currently available electric vehicle, exceeding Tesla’s range.

The vehicle boasts an impressive range of 520 miles on a single charge.

This advancement by Lucid Motors, which is preparing for a public offering, could potentially initiate a competitive push among EV manufacturers to extend their vehicle ranges.

Such a development would be welcomed by consumers.

TechCrunch Seeks Growth Marketing Professionals

TechCrunch is currently soliciting recommendations for accomplished growth marketers. Expertise in areas such as SEO, social media marketing, and content creation is highly valued.

The publication invites growth marketers to share a survey link with their clients. Feedback is being gathered to understand the reasons behind client satisfaction.

Survey Purpose and Coverage

This initiative aims to inform TechCrunch’s editorial coverage of the growth marketing landscape.

Interested parties can gain insight into how these surveys influence reporting by reading a guest article on Extra Crunch.

• The article, authored by Bryan Dsouza, is titled “5 things you need to win your first customer.”
• It details key strategies for initial customer acquisition.

Content writing skills are a crucial component of successful growth marketing strategies.

TechCrunch’s request extends to professionals proficient in a diverse range of growth-oriented disciplines.