Everyone is writing their own startup Black Swan memo.


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Y Combinator, a top startup accelerator, said in an internal email to the founders this week, “You can gain significant market share just by surviving a recession. This advice was one of the ten key points of the memo to help businesses navigate a technology-destroying recession. Other striking quotes include “worst plan” and “no one can predict how bad the economy will get, but things don’t look good.”

The email is in a different mood from just a few weeks ago when hundreds of Y Combinator startups (many of them already raising venture funding) announced themselves to the public on Demo Day. The startup was the first to receive a new $500,000 standard check from Y Combinator and was actively focusing on international opportunities. Now YC is saying that “this slowdown will have a disproportionate impact on international businesses.”

Y Combinator’s notes were not intended to be public, but they did not post Black Swan notes just in case something is coming. TechCrunch has obtained a series of memos sent by venture capital firms to portfolio companies about market downturns. Some were hopeful, some were simple, and others were simple vibe checks like this: Can you give me the ARR and cash exhaustion in writing? Can you please be nice?

I looked at this topic in a recent TechCrunch+ column. subscribe equity Also for a podcast version of this conversation next week! The rest of this newsletter will cover more layoffs from tech companies, ghosts with dates of up to $44 billion, and Swyft startups. As always, share this newsletter with your friends follow me on twitter or my blog.

therefore. many. layoffs.

The month of crazy layoffs in May continues. Amanda and I wrote the third article in Tech Layoffs that has made waves across all industries and stages. Staff at Section4, Carvana, DataRobot, Mural, Robinhood, On Deck, Thrasio, MainStreet, and Netflix were impacted by headcount cuts. Some giants, such as Twitter and Meta, are enforcing employment freezes or announcing strategy changes, such as Uber.

Here are some important reasons: At the time of publication, employees at Picsart, Netflix, Cars24 and Skillz were affected by this week’s wave of declines. It tells you who is vulnerable from a business model perspective, such as subscription-based businesses and marketplaces, and tells you that a company may start more than one layoff (cough, cough, Netflix) in the same month.

Image Credits: wild pixel (Opens in a new window) / Getty Images

Written by twitter bot

This week, Equity’s trio of favorite podcasts talked about the unicorn vibe, real estate ownership skills play, and the latest in the Elon Musk Twitter story, as the headlines suggest. At this point, we’re deciding if it’s worth tracking the timeline.

Here’s why it’s important: Our weekly tech news recaps are a great way to keep track of the big news items that shape this volatile environment and recognize deals that may have been flying under the radar. In this case, we spent most of our time deciding why Elon Musk was delusional about the $44 billion Twitter-made date. The answer isn’t that complicated, but I think it’s because you’re more interested in chasing than handcuffing.

After the episode was recorded, an investigation revealed additional news about Elon Musk. by Business Insider. Elon Musk exposed himself to the SpaceX crew and offered to have sex. According to Business Insider, the company paid her $250,000 for her silence. Musk later rejected Harassment allegations. Read the full story here.

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Image Credits: Westend61/Getty Images

trades of the week

Swift Cities! The Mountain View-based company, created by Google alumni, wants to improve transportation and provide lower-cost vehicles with lower carbon footprint. The solution looks like an autonomous, lightweight fixed-cable vehicle. The startup is the winner of the TechCrunch Sessions: Mobility 2022 pitch-off, with Beyond Aero taking second place.

Here are some important reasons: Swyft has checked a lot of ‘we are not shaken’ boxes. With an MVP and debut customer contract, the company established an R&D center in Christchurch, New Zealand. TechCrunch also announced that it is working with Queenstown’s Remarkables Park, a large office, retail and residential space, to develop a network of autonomous gondolas. It is planned to operate until August 2024.

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all week

Seen on TechCrunch

Seen on TechCrunch+

Until next time,

N

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