One other week of job slashes and crypto crashes

Hello pals!

Welcome again to Week In Review, the e-newsletter the place we wrap up most of the prime tales to cross TechCrunch’s entrance web page over the past seven days.

The large factor this week — at the least based mostly on what our backend suggests readers cared about most — was the crypto market plunging laborious and quick. Bitcoin is down over 25% month-over-month, from round $41k per BTC to round $30k on the time I’m scripting this. Ethereum is down over 30% in the identical timeframe — from round $3,100 per ETH to round $2,000.

Why? For that I defer to Lucas and Anita and their new podcast/e-newsletter Chain Reaction. Any time I write about cryptocurrency I are likely to really feel dumb and mistaken inside about 48 hours — luckily, the Chain Response workforce has a a lot higher grasp on these items than I do. This week they sat down with repeat-founder-turned-investor Kevin Rose, who says that is his “tenth or so” crypto downturn, for some insights.

My objective with Week In Assessment is to maintain you all feeling knowledgeable — to make it in order that, once you click on in on the finish of a busy week, you’ll be able to skim WiR and really feel such as you’ve bought a fairly good sense of what occurred in tech. So let’s dive in!

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Picture Credit: Google

Moreover a crypto crash, what else occurred this week? Tons.

Google I/O happened!: Whether or not everybody’s over shopping for a brand new telephone yearly or we’re all simply targeted on the million different issues happening proper now, it felt like Google’s annual convention/keynote simply kinda… got here and went. Whereas Google saved loads of the particular particulars beneath wraps, the large information out of the present was early glimpses of a brand new Pixel telephone, a brand new “Professional” line of Pixel ear buds, and enhancements to Google Maps, Assistant, and Translate. Oh, and Google’s lastly making their very own smartwatch! Oh, oh, and so they’re nonetheless taking part in with the concept of Google Glass. I don’t put on glasses (but), however the stay, real-world subtitles in this concept video would have me rocking a pair in a heartbeat.

More tech layoffs: Sadly, the latest pattern of tech layoffs continues. Over the last few weeks we’ve seen layoffs from Robinhood, Netflix, Thrasio, Cameo, OnDeck, and MainStreet. This week that checklist grew to incorporate Carvana, Latch, DataRobot, and Section4. In the meantime, plenty of large tech cos. introduced that they’re slowing or outright freezing hiring. Amanda and Natasha have the complete breakdown.

Instagram is testing NFTs: Due to course they’re. Keep in mind when Instagram was only a place the place we’d spend method an excessive amount of time taking sepia-toned footage of our breakfast and that was sufficient?

Tiger Global has nearly depleted its latest VC fund: Properly, that was quick. In March of this yr, Tiger World closed its newest enterprise fund with a huge $12.7 billion in commitments. Simply months later, Connie Loizos writes “that new fund — which reportedly took lower than six months to lift and consists of $1.5 billion in commitments from Tiger World’s personal staff — is sort of totally invested already.”

DJI’s Mini 3 Pro: DJI has a brand new drone, and TC’s Darrell Etherington is a fan to date (with the caveat that he principally recommends the most costly possibility, which is just a few hundred bucks greater than the $669 base mannequin).

Row, row, row your… Peloton?: The corporate finest identified for its train bikes (and extra lately treadmills) has a brand new piece of at-home train {hardware} within the works: a rowing machine. Whereas it seems like rowing machines are having a little bit of a second proper now, it’s laborious to think about that this alone turns issues round for Peloton after an incredibly rough quarter — however, as Brian Heater places it, it’s at the least “a vivid spot” for the corporate after a streak of dangerous information.

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lone figure at entrance to maze hedge that has an American flag at the center

Picture Credit: Bryce Durbin/TechCrunch

We have now a paywalled part of our web site referred to as TechCrunch+. It prices a couple of bucks a month and it’s filled with excellent stuff! From this week, for instance:

US Visa options for international founders: So that you began your organization exterior of the US and now you need to transfer to Silicon Valley. What are you able to do? Immigration legal professional Sophie Alcorn runs by the choices.

Why Airbnb is reinventing itself: Airbnb went by a significant overhaul this week, in a transfer that CEO Brian Chesky calls a “top-to-bottom improve.” Jordan Criminal sat down with him to study what modified and why.

Dutch’s $20M Series A Deck: It’s pitchdeck teardown time! Haje takes a take a look at the deck utilized by pet telemedicine platform Dutch to lift a $20M Sequence A. Can each pitchdeck pull off 14 images of lovable animals? Most likely not. However this one can, a lot to Haje’s delight.

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