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How India’s most valuable startup turned out to be worthless

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There’s extra dangerous information for Byju’s. In a analysis notice, HSBC estimates that the Indian edtech large, as soon as valued at $22 billion, is now nugatory. The write-down in its valuation makes Byju one of the spectacular startup slides in latest instances and after a really robust yr for India’s Most worthy startup till just lately.

After elevating $100 million, AI mortgage startup LoanSnap confronted an avalanche of lawsuits and was evicted from its headquarters. A minimum of seven collectors, together with Wells Fargo, collectively declare the corporate owes them greater than $2 million. Staff who spoke to TechCrunch at the moment are anxious about the way forward for the corporate.

An appeals court docket has dominated that enterprise capital fund Fearless Fund can not award grants to black girls enterprise homeowners, sparking outrage amongst advocates for variety within the startup and enterprise ecosystem. Fearless Fund CEO Ariane Simon launched an announcement saying the fund is set to proceed combating the lawsuit.

Information

What to anticipate at WWDC 2024: Apple’s annual developer convention kicks off on June 10 at 10 a.m. PT. From iOS 18 to the debut of macOS 15 and plenty of AI chatter, here is what you may count on to see. Learn extra

Rivian’s Path to Survival: Rivian has introduced fully up to date variations of its first two shopper automobiles. For the primary time because the firm deserted its stealth program in 2018, the electrical automobile maker’s rapid future is definitely remarkably clear. Learn extra

Carta will get a major downgrade: TechCrunch has realized that Carta is engaged on a secondary sale that might worth the corporate at $2 billion, sharply lowering its $6.5 billion valuation. Learn extra

Artists flee to Kara: A social media app for creatives in opposition to synthetic intelligence has skyrocketed to the highest of Apple’s App Retailer this week as artists develop more and more fed up with Meta’s AI coaching coverage. Learn extra

Robinhood acquires Bitstamp: The inventory buying and selling app is diving deeper into cryptocurrency with the acquisition of crypto trade Bitstamp. The corporate expects the ultimate worth of the transaction to be roughly $200 million. Learn extra

Meet Apple’s recycling robots: TechCrunch visited Apple’s manufacturing facility to be taught extra in regards to the firm’s efforts to construct the very best recycling robotic in its bid to make its provide chain course of carbon impartial by 2030. Learn extra

You possibly can’t miss these bulletins: Instagram has confirmed it’s testing a brand new function that can stop customers from shopping the social media platform till they view unskippable advertisements, sparking criticism. Learn extra

“Do not joke with the mother and father of kids”: Cameo’s fundraiser, hosted by in style kids’s YouTuber Ms. Rachel, had a disappointing marketing campaign as the corporate’s coverage was to present followers credit as a substitute of movies. Learn extra

Trump takes off on TikTok: Donald Trump has joined TikTok to raised have interaction with younger voters, signaling a pointy reversal of opinion on the short-form video app he as soon as tried to ban. Learn extra

Revel takes one other twist: After ditching moped-sharing and switching to an all-Tesla supply service, Revel is shedding greater than 1,000 drivers to undertake a gig-worker mannequin much like that of Lyft and Uber. Learn extra

Walkie-talkie up to date: French startup ten ten has gone viral with its walkie-talkie app that permits youngsters to ship voice messages to their pals – even when their cellphone is locked. Learn extra

Evaluation

Can generative synthetic intelligence save Siri?: Apple is predicted to announce a partnership with OpenAI at WWDC and has broader objectives of deeply integrating generative synthetic intelligence into Siri. As Brian Hitter reviews, Siri has fallen wanting the revolution Apple promised 13 years in the past — and at this level, Apple cannot beat OpenAI at its personal sport. Learn extra

It seems that AI fashions have favourite numbers: Gramener engineers carried out a casual experiment through which they requested a number of massive LLM chatbots to choose a random quantity between 0 and 100. However as Devin Koldevy factors out, the outcomes weren’t random. All three fashions had a “favourite” quantity and even displayed a human bias in direction of different numbers. Learn extra

A wealthy unicorn enterprise capitalist tells everybody: Throughout his profession in enterprise capital, Wesley Chan has invested in additional than 20 unicorns reminiscent of Canva, Flexport and Robinhood. In an interview with Christine Corridor, Chan says he owes his success to his hard-working immigrant household and a job on Craigslist cleansing lab beakers. Learn extra

AI Bias Examine: A latest examine examined a number of open-text analytics fashions to see how they might reply questions associated to LGBTQ+ rights, social safety, surrogacy, and extra. They discovered that the fashions tended to reply inconsistently to the questions, which they stated mirrored biases constructed into the info used to coach the fashions. Learn extra

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