It’s AI day for Tesla, but we’re here for the cringey texts  • TechCrunch

To get a roundup of TechCrunch’s biggest and most important stories delivered to your inbox every day at 3 p.m. PDT, subscribe here. Happy Friday! We don’t know about you, but we are both ready for some R&R after ploughing through a wall of deep-cringe texts from the Musk/Twitter trial. We hope you get some, … Read more

SoftBank Vision Fund is reportedly laying off 30% of its workforce, or at least 150 employees • TechCrunch

The Vision Fund, a venture capital arm of SoftBank, has launched a sweeping layoff process, cutting at least 30% of its workforce globally, or approximately 150 of the 500 employees, according to a report by Bloomberg. The news comes nearly two months after SoftBank chief executive officer and founder Masayoshi Son said the company would … Read more

Tokenization is key to linking TradFi to the blockchain • TechCrunch

As more and more traditional institutions begin to dabble in digital assets, some believe the best way for both old-school finance and decentralized finance (DeFi) to grow together is through a cross-chain world and tokenization. At Chainlink’s SmartCon 2022 conference, the “Bridging Traditional Finance and DeFi” panel discussed how interoperability could drive greater success for … Read more

Meta says ad-free Instagram client The OG App breaks its rules • TechCrunch

Last week, a startup called Un1feed launched an Instagram client called The OG App, which promised an ad-free and suggestion-free home feed along with features like creating custom feeds like Twitter lists. The app raked up almost 10,000 downloads in a few days, but Apple removed the app from the App Store for violating its … Read more

‘Virtual ward’ startup Doccla gets Series A injection as it eyes AI tools • TechCrunch

Doccla, a Sweden founded but London-headquartered health tech startup that sells a remote patient monitoring platform to hospitals to run so-called ‘virtual wards’, has closed a £15 million (~$17M) Series A funding round a year after raising a $3.3M seed. The Series A is led by US VC General Catalyst, with participation from funds managed … Read more

Tesla appoints Airbnb co-founder to board • TechCrunch

Tesla has appointed Airbnb co-founder and billionaire Joe Gebbia to its board of directors, according to a securities filing. Gebbia, a designer who co-founded Airbnb, officially joined the board September 25 as an independent director. His appointment comes a few months after leaving day-to-day operations at Airbnb. He is now an advisor to the short-term rental … Read more

Porsche to IPO in landmark listing Thursday • TechCrunch

Porsche plans to go public on Thursday at a $73 billion valuation, catapulting the company to become the world’s fourth-most valuable automaker and netting billions of dollars for parent company Volkswagen to advance its drive toward electric vehicles. The initial public offering for Porsche AG on the Frankfurt Stock Exchange values the brand at $79 … Read more

Invisible AI raises $15M to stick worker-monitoring cameras in factories • TechCrunch

The rise of so-called “smart factory” technologies is leading to a race to modernize manufacturing plant and warehouse floors. Old equipment is being replaced by newer, more advanced machinery as manufacturers look to keep pace with the competition — and wrestle with high turnover rates. According to a survey by Plex Systems, 50% of manufacturers … Read more

Is Silicon Valley really losing its crown? • TechCrunch

Where is the heart of the technology industry? The simple answer is “Silicon Valley,” a term that now generally means the San Francisco-San Jose-Oakland area of California. There are other options: The two largest public cloud providers, Microsoft and Amazon, are based in the state of Washington. Europe’s tech scene has been busy in recent … Read more

Livin Farms’ investors are betting $5.8M on powdered fly larvae • TechCrunch

In a world of climate change-fueled food shortages, insect-based proteins are being viewed as an increasingly valuable potential alternative food service. Livin Farms has put insect larvae at the center of its own alternative protein play. The Vienna-based firm produces Hive Pro, a modular system designed to automate the process of rearing and processing black … Read more