SpaceX Launches Civilian Crew into Orbit - Daily Crunch
Daily Crunch: September 15, 2021
A daily digest of TechCrunch’s most significant and impactful stories is delivered to inboxes each day at 3 p.m. PDT. You can subscribe to this service here.
Greetings, and welcome to Daily Crunch for September 15, 2021. This edition contains a comprehensive overview of the day’s key developments. Concerns regarding misconduct within the cryptocurrency space are present. The potential benefits of the Mailchimp acquisition are also being examined.
TechCrunch Updates
Jordan Crook’s ongoing series of live discussions featuring investors and startup founders has been officially renamed TechCrunch Live. Furthermore, Chamath Palihapitiya is scheduled to appear at the upcoming Disrupt conference.
Disrupt is fast approaching, occurring in under a week! Stay tuned for more information.
SpaceX Launch
As this newsletter is being distributed, SpaceX’s inaugural mission featuring an entirely civilian crew may be commencing its journey into space. Those interested can follow the launch live.
— Alex
TechCrunch's Top 3 Updates
Recent events highlight a concerning increase in fraudulent activity. A surge in such behavior often indicates challenging times. Several significant stories have emerged in the past 24 hours regarding misconduct within the tech industry.
App Annie Faces SEC Penalties
Startup App Annie will be required to pay $10 million in fines to the Securities and Exchange Commission (SEC) due to securities fraud. This outcome is decidedly unfavorable for the company.
OpenSea Executive Admits to Front-Running
OpenSea, a prominent NFT marketplace, acknowledged earlier today that one of its executives engaged in front-running NFT sales. This admission represents a significant setback for the platform's reputation.
Reconsidering the Intuit-Mailchimp Acquisition
Initial reactions to Intuit's proposed $12 billion acquisition of Mailchimp were largely skeptical. However, further analysis and insights from industry experts suggest a more optimistic outlook regarding the potential benefits of this deal.
Ron Miller consulted with several knowledgeable sources, revealing a greater degree of positive sentiment than initially anticipated.
Continued IPO Activity
Despite ongoing market conditions, several tech companies are proceeding with their initial public offerings (IPOs). Toast, Freshworks, and Warby Parker are preparing for their market debuts.
Forge, a secondary share marketplace, is also going public through a Special Purpose Acquisition Company (SPAC). This development prompted a closer examination of the company and its prospects.
Startups and Venture Capital Updates
Recent developments in the “Buy Now, Pay Later” (BNPL) sector continue to generate interest. Ascend has secured $5.5 million in funding to extend BNPL services specifically to the commercial insurance industry.
Improved liquidity within the fintech market may stimulate renewed venture capital investment in the coming months.
Key Startup News
- Sendcloud Secures $177M for SaaS Solutions: This refers to Shipping as a Service, offered by Sendcloud. The Dutch company, now backed by SoftBank, provides a cloud-based platform for streamlined shipping management.
This platform allows users to select from a diverse range of carriers and shipping options. It bears a resemblance to the European equivalent of Shippo.
- Rivian Demonstrates Production Capability: Following substantial capital raising, Rivian has successfully produced its first production R1T electric pickup truck.
This milestone distinguishes Rivian from numerous other electric vehicle companies aspiring to achieve similar results. The company also offers a distinctive color option known as Rivian Blue.
- Clubhouse Appoints News Leadership: Nina Gregory, a veteran from NPR, has been appointed as Clubhouse’s head of News and Media Publishers, as reported by TechCrunch.
Her responsibilities will involve collaboration with both the social platform and news organizations. The role’s effectiveness might be enhanced if Clubhouse’s investor, a16z, adopted a less adversarial stance towards the media.
- SmartNews Achieves $2 Billion Valuation: While the media industry often presents challenges, media aggregation appears to be a promising avenue.
Investors have injected $230 million into news aggregator SmartNews, resulting in a $2 billion valuation. Having previously collaborated with SmartNews during the Crunchbase News era, I am both impressed by its growth and intrigued by its revenue generation strategy.
- Airbase Carves Out Niche Against Brex and Ramp: The competition among corporate spend management platforms is intensifying, with numerous startups experiencing rapid growth and securing funding.
Airbase has recently introduced new features designed to attract larger enterprise clients, potentially differentiating it from competitors like Brex and Ramp.
- Inspired Capital Launches Second Fund: Inspired Capital has successfully raised a second fund, just two years after the establishment of its first fund.
Securing Your Initial Customer: 5 Essential Steps
Launching your product is a significant achievement, but a crucial question remains: how well do you truly understand those you intend to serve?
Businesses lacking a defined ideal customer profile and a comprehensive SWOT analysis are essentially relying on chance and gut feelings. While this approach can occasionally succeed, it often results in unfavorable outcomes.
Bryan Dsouza, product marketing lead at Grammarly, presents five foundational requirements for effective customer acquisition in a recent guest article. This guidance helps readers develop customer personas aligned with their company’s objectives.
He emphasizes that diligent and genuine execution of these principles can virtually assure the attainment of your first customer. This success will also reassure your investors, demonstrating a responsible use of their investment.
(Extra Crunch is our membership program designed to empower founders and startup teams. Registration is available here.)
Big Tech Inc.
Staying informed about governmental developments is crucial. The following updates highlight key areas of focus within the technology sector.
Semiconductor Sovereignty
The concept of semiconductor sovereignty is gaining prominence. Historically, national self-sufficiency in food production was paramount.
Today, the ability to domestically manufacture semiconductors is becoming equally vital. This shift is driven by the ongoing global semiconductor shortage and geopolitical tensions, particularly concerning Taiwan—a major silicon manufacturing hub—and China’s increasing influence.
Europe is also actively pursuing strategies to establish its own independent processor manufacturing capabilities.
TikTok Data Handling in Ireland
Irish authorities are currently investigating TikTok’s data management practices. Concerns center around the handling of children’s data and potential data transfers to China.
This inquiry reflects a broader scrutiny of data privacy and security within the context of international data flows.
Regulation of Social Media Algorithms
Daniel Liss, founder and CEO of Dispo, has proposed a novel approach to regulating social media. He suggests that Instagram’s algorithm should be subject to regulation by the Food and Drug Administration (FDA), akin to a pharmaceutical drug.
This proposition underscores growing concerns about the potential addictive and psychologically impactful nature of social media algorithms.
Autonomous Deliveries
Walmart is collaborating with Ford and Argo AI to explore the implementation of autonomous delivery services.
This partnership represents a step towards wider adoption of self-driving technology and could revolutionize logistics and delivery systems.
The initiative is viewed favorably as a potential catalyst for accelerating the development and deployment of self-driving vehicles.
TechCrunch Insights: Identifying Leading Growth Marketing Professionals
TechCrunch is dedicated to assisting startups in locating specialists who can effectively address their specific requirements.Currently, a curated list of premier growth marketers is being developed to facilitate this process.
Since the launch of our survey, numerous valuable recommendations regarding skilled growth marketers within the startup ecosystem have been submitted.
Ongoing Survey and Feedback
We anticipate receiving further responses and are eager to analyze the incoming data.
Participation in the survey can be completed at this link.
Growth Marketing Coverage
TechCrunch’s editorial content concerning growth marketing encompasses articles authored by our internal team, as well as contributions from guest writers.
Examples include posts such as “In growth marketing, signal determines success,” penned by Jonathan Martinez.
Engage with the Tech Community
An opportunity to participate in a discussion with Danny Crichton is scheduled for tomorrow, Thursday, September 16th. The event will commence at 3 p.m. Pacific Daylight Time, corresponding to 6 p.m. Eastern Daylight Time, and will be hosted on Twitter Spaces.
Featured Guest: Martin Ford
Danny will be welcoming Martin Ford, the author of the insightful book “Rule of the Robots: How Artificial Intelligence Will Transform Everything.” This conversation promises to explore the evolving landscape of artificial intelligence.
To ensure you don't miss any updates regarding this event and other TechCrunch news, be certain to follow the official TechCrunch Twitter account.
- Event Date: Thursday, September 16th
- Time: 3 p.m. PDT / 6 p.m. EDT
- Platform: Twitter Spaces
- Featured Author: Martin Ford
- Book: “Rule of the Robots: How Artificial Intelligence Will Transform Everything”
Stay connected with TechCrunch on Twitter to receive the latest information about this and future events.
