Welcome back to Week in Review, our newsletter where we round up many of the top stories that hit TechCrunch in the last seven days.
The Big Deal this week, according to what people were reading the most, were the details of a memo sent by Y Combinator to its portfolio founders.
As markets continue to slide, YC tells its portfolio founders it’s time to batten down the hatches: cut costs, extend the runway, and get to a state of “alive default.” “For those of you who have started your company in the last 5 years,” YC writes, “ask what you think the normal fundraising environment is.”
Manish has the full 10 point email here.
Besides more bad news on the markets, what else was going on?
Apple testing a foldable?: Is Apple toying with the idea of folding phones and/or tablets? Analyst Ming-Chi Kuo says that Apple is testing e-ink screens for the secondary display in a yet-to-be-seen “foldable future.” However, as Brian points out, “there’s a big gap between testing and release”; In other words, don’t be too surprised if this one never sees the light of day.
NHTSA investigates Tesla accident: Earlier this month, a Tesla Model S “hit a sidewalk and crashed into construction equipment,” killing three. The National Highway Traffic Safety Administration is now investigating the crash to determine if Tesla’s autopilot system might have been involved.
DOJ says it will no longer prosecute hackers in good faith: After a long, long, long time, the US Department of Justice is reassessing how it views hacking cases, and for the first time openly declaring that “good faith security research should not be charged” on under the Computer Fraud and Abuse Act.
Haje on the new Coca-Cola bottle cap: “When [Coke] sends out a shocking press release about how amazing they are for releasing a bottle cap where the cap remains attached to the bottle ‘for environmental reasons,’” Haje writes, “sorry, it makes my blood boil.”
PayPal Ventures Alumni Launch New Fund: Within months of parting ways with PayPal Ventures, these three alumni had raised a huge fund of their own. Focus? Fintech, and supporting “startups that address ‘the biggest hurdles’ in today’s financial infrastructure: access, utility, flexibility, and cost.”
We have a paid section on our site called TechCrunch+. It costs a few bucks a month and is packed with great stuff! As of this week, for example:
Alone or co-founder?: You are setting up a company. Do you do it alone or are you looking for a co-founder? It’s a question I’ve been asked every time I’ve been on a panel with venture capitalists or founders. In this post, DocSend (acquired by Dropbox in 2021) co-founder Russ Heddleston shares his thoughts.
Are startup layoffs accelerating? It feels like we are hearing about new layoffs every other day. How fast are start-up layoffs accelerating? Alex Wilhelm dives into the data.
Alleviating the global shortage of lithium: Lithium-ion batteries, as the name suggests, require lithium. But “current lithium mines cannot hope to meet the growing demand,” writes Tim De Chant. So where will we make it advance? Tim takes a look at some possible solutions.