Citing 'uncertain mortgage market,' rolls out employee buyout plan

TechCrunch Newsletter
TechCrunch logo
The Daily Crunch logo

By Christine Hall and Haje Jan Kamps

Wednesday, April 06, 2022

Welcome to the Daily Crunch for Wednesday, April 6, 2022! Today, Pinterest announced it was banning all climate change misinformation on its platform, and can we just say … about time! May all other platforms follow.

Also, while we’re on our little soapbox: The earth ain’t flat, and vaccines have little impact on your 5G reception. Which is unfortunate, because we still can’t get more than a couple of bars in the supermarket.

We wish you a delightful day and impeccable cell reception – Christine and Haje


Image Credits: Bryce Durbin / TechCrunch

The TechCrunch Top 3

  • Sources say losing ‘$50M a month’: We think reporter Mary Ann Azevedo has done a bang-up job keeping her eye on the drama. In the latest episode, sources revealed to her some internal meeting details that the digital mortgage lender is losing “around $50 million a month.” Unsurprisingly, the company is now offering a severance package to employees it didn’t already lay off. There’s a town hall meeting today, so Mary Ann will most likely have more to share in the coming days.
  • Navigating the choppy e-commerce seas: As reporter Ingrid Lunden writes, “e-commerce is synonymous with shopping on Amazon, but the reality is that a retailer has the option to use a bundle of different channels to sell and market products.” Productsup wants to help retailers decipher this complex and fragmented world with some marketing and sales tools you can manage from one place.
  • Yes, Twitter is looking at an edit button: We’ve already played out this edit button thing, but even after joking about it last week, Twitter now says that it’s been working on an edit button for the past year, and it wasn’t because Elon Musk took a poll. To edit or not to edit has been TC Slack fodder this week, and it seems it people anticipate one of two scenarios: Typos will be fixed or misinformation will run rampant.

Marketing Automation Is Your Gateway to Growth

Sponsored by Fluency Inc.

Whether you want to cut down hours, eliminate outsourcing, scale up, or all of the above, Fluency can get you there! Saving time on repetitive tasks is your gateway to meaningful growth and success.

Learn More

Startups and VC

TechCrunch has gone Texas-sized today, with our inaugural City Spotlight for 2022, where we do what we can to help Keep Austin Wired. Connie talked to billionaire investor Jim Breyer about why he high-tailed it out of Silicon Valley in favor of Austin, Brian took a look at how global politics and finance might bring more manufacturing to central Texas, Laura Lorek did a profile on Austin tech eccentric Whurley, and Mary Ann summarized how Austin re-invented itself, earning its current reputation as a tech hub.

Outside the Lone Star State, it was a big day of EV news. Rivian celebrated the production milestones that put it on track to hit its 2022 goals, which is great news for me, because it may mean that I’ll at some point clear the waitlist and take delivery of one of the off-road pickup trucks because obviously that’s what I need to drive to my local Whole Foods. General Motors finally figured out its supply chain woes and the recall of 141,000 Bolts and fired up its assembly line again. And the U.S. government finally figured out that if it wants to go fully electric, it has 99,000 problems in the form of a vast shortage of charging stations to energize all the vehicles it wants to run.

Moar News, fresh from the TechCrunch firehose of tasty morsels of news and commentary:

6 questions investors should ask when evaluating psychedelic biotech companies

A few years ago, ingesting small quantities of psychedelics to elevate one’s mood or productivity was the subject of small talk in Silicon Valley.

Today, psychedelic therapeutics are being used to treat a variety of mental health issues. And as more regions decriminalize the use of plant-based substances, investors are taking notice.

With plans to raise a $25 million fund and more than $15 million already invested, PsyMed Ventures focuses on early-stage startups developing psychedelic therapeutics.

In a TC+ guest post, partners Matias Serebrinsky and Greg Kubin explore their investment thesis in detail: “We believe in a future where psychedelic therapy will be as common as going to the dentist, but the path won’t be easy.”

(TechCrunch+ is our membership program, which helps founders and startup teams get ahead. You can sign up here.)

Read More

6 questions investors should ask when evaluating psychedelic biotech companies image

Image Credits: Yarygin / Getty Images

Big Tech Inc.

Big Tech Inc.

Intel has joined other Big Tech companies, like Apple, AMD, Adobe and General Electric, in suspending business operations in Russia. This follows its move of stopping shipments to customers in Russia and Belarus. And don’t miss the new feature for TechCrunch by reporter Vadim Smyslov, who is covering the impact the war is having on Russia’s tech workers.

We also learned today that the Federal Bureau of Investigation targeted a massive botnet controlled by Russian intelligence and was able to take it down. Called the Cyclops Blink, this malware had apparently infiltrated thousands of devices, and we report “security researchers say the botnet is capable of collecting information and conducting espionage, launching distributed denial-of-service attacks that overload websites and servers with junk traffic, as well as destructive attacks that render the devices inoperable and causing system and network disruptions.” All of that makes us glad this one is out of commission.

Here are two other news items for you to sink your teeth into:

  • CNN+ downloads are more like a minus: CNN+ launched last week and is now seeing around half of the downloads from its opening day. We may be seeing one or two things play out: People are tired of having an app for each channel, and/or the channel needs to up its content game.
  • Visa opens first innovation hub in Africa: The Kenya studio gives the global digital payments giant a deeper connection to the country’s developers and partners aiming to create payment and commerce tools.

Read more stories on

Newest Jobs from Crunchboard

See more jobs on CrunchBoard

Post your tech jobs and reach millions of TechCrunch readers for only $200 per month.

Facebook Twitter Youtube Instagram Flipboard

View this email online in your browser

Privacy Policy | Terms of Service | Unsubscribe

© 2022 Yahoo. All rights reserved. 110 5th St, San Francisco, CA 94103

Key phrases

Older messages

3️⃣ reasons why you should be joining us at TC Early Stage next week

Wednesday, April 6, 2022

Almost sold out of the event! TC Early Stage - San Francisco, CA - April 14, 2022 It's almost go-time for all you early-stage startup founders! That's right, next week on April 14 hundreds of

Peloton Guide with body-tracking camera now on sale for $295

Tuesday, April 5, 2022

TechCrunch Newsletter TechCrunch logo The Daily Crunch logo By Christine Hall and Haje Jan Kamps Tuesday, April 05, 2022 Welcome to the Daily Crunch for Tuesday, April 5, 2022. Today was one of those

Raising the right amount of capital after a correction

Tuesday, April 5, 2022

TechCrunch+ Newsletter TechCrunch+ logo TechCrunc+ Roundup logo By Walter Thompson and Ram Iyer Tuesday, April 05, 2022 Welcome to TechCrunch+ Tuesday Image Credits: Yagi Studio / Getty Images If you

VC trends and scrutiny at TC Sessions: Climate

Tuesday, April 5, 2022

June 14 at UC Berkeley, CA TC Sessions: Climate on June 14 and June 16 Fact #1: Climate tech startups received $40+ billion across more than 600 deals in 2021 — 2X more than 2020. Fact #2: Corporate

Twitter stock price soars after Elon Musk acquires 9.2% stake

Monday, April 4, 2022

TechCrunch Newsletter TechCrunch logo The Daily Crunch logo By Christine Hall and Haje Jan Kamps Monday, April 04, 2022 Why hello, I didn't see you there. Welcome back to another week and an

What A Day: Kinz and needles

Saturday, October 30, 2021

Got you some spooky numbers. Friday, October 29, 2021 BY SARAH LAZARUS & CROOKED MEDIA -Karol Marcowicz on Florida's COVID strategy, which killed 60000 people Today in Somewhat Deflating

Top AI Software

Friday, October 29, 2021

The 20 leading software providers in the AI space Friday, October 29, 2021 TOP STORIES Top AI Software Top AI Software This list includes 20 leading software providers in the AI space, including major

Oct. 28 - Walmart, Gap to launch furniture | Petco opens flagship for private label

Thursday, October 28, 2021

Victoria's Secret is the exclusive retailer for D+ lingerie brand Mindd; Gap, Walmart extend ties with new furniture collection; The Backroom: Why is the idea of splitting off e-commerce so popular

October 2021, #4

Thursday, October 28, 2021

This week we discuss BTC/USD and ETH/BTC price action, Bitcoin ETF explained, and Zoom-In on The Graph (GRT) and Akropolis (AKRO) ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Can non-SaaS be PLG? Gitlab goes public, Stripe acquires Recko, and more...

Monday, October 25, 2021

Welcome to this week's edition of the ✨Top of the Lyne✨ newsletter. Each week we publish the hottest news from the beautiful world of product-led growth! (PLG) The outcome we're shooting for is

Now I Know: The Non-Profit That Gives Drivers Sticker Shock

Monday, October 25, 2021

A bad idea meets a bad idea, but makes for funny YouTube videos View this email in your browser · Missed one? Visit the Archives Sorry if this hit your inbox a bit late today; had some weird tech

Apple and Google bow to Russian pressure

Friday, September 17, 2021

TechCrunch Newsletter TechCrunch logo The Daily Crunch logo Friday, September 17, 2021 • By Alex Wilhelm Hello and welcome to Daily Crunch for Friday, September 17th! What a week, ya'll. It is now

Lit Hub Daily: On Sally Rooney and the Literature of the Pose

Wednesday, September 15, 2021

Lit Hub Daily: September 15, 2021 Click here to read this email in your browser. The Cundill History Prize 2021 Shortlist Announcement Lit Hub Daily September 15, 2021 In 1890, Agatha Christie is born.