Reddit CEO dismisses protesting moderators as a ‘small group that’s very upset’

The Daily Crunch is taking Monday off for Juneteenth, but Christine will be back from vacation Tuesday to bring you the top stories of the day. 

But today, the Reddit story is alive and well. Ivan writes that CEO Steve Huffman is defending business decisions made by the company to charge third-party apps.

The Cybersecurity and Infrastructure Security Agency has confirmed that “several” U.S. government agencies have experienced intrusions related to the exploitation of a vulnerability in MOVEit Transfer.

And Bill Gates met President Xi Jinping on Friday in Beijing, according to China’s state media. An official reason for the meeting has yet to be announced.

More top stories 

Get your vegan ice cream — in Singapore: Natasha writes about Finnish startup Solar Foods’ alternative protein, Solein, that has been blended into a custom (vegan) chocolate gelato at a restaurant in Singapore. It’s not your average scoop, she says.

Robot green light: The U.K.’s antitrust regulator has approved Amazon’s proposed billion-dollar iRobot acquisition, Paul writes, concluding that the deal “would not lead to competition concerns in the U.K.”

Layoffs at Tada: Kate writes that Seoul-based, ride-hailing platform Tada plans to let go of a portion of the company’s employees as part of a restructuring as it works to reduce costs. 

LockBit cyberattack: The Justice Department has arrested and charged a Russian national for his alleged role in multiple LockBit ransomware attacks against victims in the U.S. and around the world. Yesterday, Jagmeet wrote that the Russia-linked ransomware group has claimed responsibility for a cyberattack on Indian pharmaceutical giant Granules India and published portions of the data it allegedly stole.

Musk in Paris: Ingrid and Mike were at VivaTech in Paris today listening to Elon Musk talk about … everything, it seems.

Smart security? Zack writes that U.S. power and electronics giant Eaton has fixed a security vulnerability that allowed a security researcher to remotely access thousands of smart security alarm systems.

On TC+, Dom writes that Mistral AI’s mega fundraise is a red flag for many concerned about inclusivity.

And in the latest Pitch Deck Teardown on TC+, Haje takes a look at the one Netmaker used to secure its $2.3 million round. Want to submit your own deck? Here’s how.

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The smaller VC boom and its impact on diverse investors and founders

Can emerging managers do a better job of expanding access to capital than established VC firms?

Because many funds with less than $50M under management “are led by those from underrepresented backgrounds,” reports Dominic Madori-Davis, there’s “an opportunity for smaller fund managers to step in and back the founders being overlooked and ignored on a higher level.”

To learn more, she interviewed:

• B. Pagles Minor, founder, DVRGNT Ventures
• Ramzi Rafih, founder, No Label Ventures
• Madeline Darcy, managing partner, Kaya Ventures

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