YC’s letter to the founders, Apple’s drafting and Justice Department’s new position on hackers – TechCrunch
Welcome to our review week newsletter where we complete many of the major stories that have hit TechCrunch over the past seven days.
The great thing This week, based on what people read most often, there were details of a note sent from Y Combinator to the founders of the portfolio.
As markets continue to slide, YC tells its portfolio founders that it’s time to kill the hatches – cut costs, expand the runway and move to a state of “default alive”. “For those of you who have set up your own company in the last 5 years,” YC writes, “question what you consider to be a normal fundraising environment.”
Manish has full letter of 10 items right here.
Aside from the worse news about the markets, what else was going on?
Apple tests difficult ?: Is Apple working on the idea of folding phones and / or tablets? Analyst Min-Chi Kuo says Apple is testing E-Ink displays for the secondary display on an as-yet-unseen “future challenge”. However, as Brian points out, “there’s a big gap between testing and release” – in other words, don’t be surprised if it never sees the light of day.
NHTSA investigates Tesla crash: Earlier this month, a Tesla Model S “crashed into a curb and crashed into construction machinery,” killing three. The National Highway Traffic Safety Administration is currently investigating the crash to determine if a Tesla autopilot system could have been involved.
The Ministry of Justice says it will no longer prosecute bona fide hackers: After too long, the U.S. Department of Justice is reviewing how it handles hacking cases, for the first time explicitly stating that “bona fide security research should not be charged” under the Computer Fraud and Abuse Act.
Haje on the new Coca-Cola bottle cap: “When [Coke] sends out a press release about how weird they are to launch a cap from a bottle where the cap remains attached to the bottle “for environmental reasons,” Haje writes, “sorry, I just have my blood boiling”.
Pupils of PayPal Ventures are launching a new fund: In the months since parting ways with PayPal Ventures, these three graduates have amassed a huge new own fund. In the spotlight? Fintech and support for “startups that address the“ biggest hurdles ”in today’s financial infrastructure: access, utility, flexibility and cost”.
We have a paid section of our site called TechCrunch +. It costs a few bucks a month and it’s full of very good stuff! From this week, for example:
Solo or co-founder ?: You create a company. Do you do it alone or find a co-founder? This is a question I am asked every time I have participated in discussions with venture companies or founders. In this publication, DocSend co-founder (acquired by Dropbox in 2021) Ras Heddleston shares his thoughts.
Are startup layoffs accelerating ?: It feels like we hear about new layoffs every day. How fast are startup layoffs accelerating? Alex Wilhelm delves into the data.
Reducing lithium deficiency in the world: Lithium-ion batteries, as the name implies, require lithium. But “today’s lithium mines can’t hope to meet the rapidly growing demand,” writes Tim De Chant. So where are we going to move forward? Tim is considering some possible solutions.