In this week’s edition of Startups Weekly, the author reflects on the growing power of Big Tech Companies and questions whether there should be greater democratic oversight of their policies. They also discuss the challenges faced by startups in raising funds and identify three common factors among struggling founders.
In terms of security, the author highlights a story about Flipper Devices, a Russian hacking device company that made $80 million in sales. The author also mentions an incident where an Illinois high school accidentally changed every student’s password, exposing their passwords to each other. Additionally, they mention the sentencing of a British hacker responsible for the 2020 Twitter breach and the hacking of LetMeSpy, a phone-tracking app.
In the realm of hardware startups, the author reports on Uplift Labs’ deal with Major League Baseball to use their 3D motion tracking tech for scouting players. They also mention funding news for Realtime Robotics, a manufacturing automation startup. Another article explores how robots are learning from watching YouTube videos, with potential applications in woodworking and explosives.
Next, the author highlights various startups making headlines. They mention the growing adoption of the Tesla charging standard and the permit granted to Joby Aviation to fly its first electric vertical take-off and landing (eVTOL) aircraft. They also report on Grab, a ride-hailing firm in Singapore, laying off over 1,100 employees, and the legal troubles faced by Lordstown Motors. Despite the challenges faced by the electric vehicle (EV) industry, Faraday Future manages to secure $90 million in funding.
The author’s top reads on TechCrunch include a story about Forcite launching a smart helmet, Netflix axing its basic plan in Canada, the shutdown of the IRL social app due to fake users, and the backlash against fashion company Shein for its environmental impact. The article concludes by mentioning Lithuania’s plan to invest over $100 million in “Europe’s largest tech campus.”
Overall, the content of this week’s Startups Weekly covers a range of topics including the power of big tech companies, fundraising challenges faced by startups, security incidents, hardware startups, and notable startup news.
