Well, well, well. Over the past few days, I’ve immersed myself in Matthew McConaughey’s memoir, “Greenlights,” narrated by the author himself. I can’t quite explain why I chose to dive into it, especially since I’m not typically a fan of audiobooks. I’ve always known McConaughey to be a man of depth, but I must admit, I’m still processing the impact it’s had on me. Yes, he’s lived a wild, unconventional life with a treasure trove of fascinating stories. However, what caught me off guard was how profoundly it delves into the journey of self-discovery, and in that sense, it relates to the world of startups more than one might initially think. In any case, I highly recommend it.
Interestingly, this experience indirectly inspired my column this week, where I contemplated the conflicting nature of app activation metrics and our mental well-being. This is especially pertinent for apps like Nextdoor, Citizen, and the Ring doorbell app, which inundate us with constant streams of potentially distressing information. Like easily influenced creatures driven by our amygdalae, we react. Perhaps it’s time for us to consider opting out.
The TechCrunch team is buzzing with excitement about TechCrunch Disrupt in San Francisco just a couple of weeks away. I’ll be on stage, among other things, conducting an interview with Rajeev Rajan, the relatively new CTO of Atlassian. I might even reluctantly take fashion advice from random strangers – maybe that stranger could be you!
Now, let’s shift our focus to what’s been happening in the startup world this week!
The Rollercoaster Ride of Startup Life
Startup life is certainly not for the faint-hearted, and lately, we’ve been witnessing a rollercoaster of highs and lows.
Medobed, a startup that initially secured a spot in Y Combinator’s S23 batch, found itself cut loose by the accelerator, with one of its partners even advising potential investors to steer clear.
Speaking of changing tides, Chamet, a popular yet controversial live video chat app, got the boot from the Play Store by Google, albeit without a specific reason given, but with a nod towards its “questionable user-generated content” policy.
In a jaw-dropping turn of events, Babylon Health, once valued at nearly $2 billion, has now plummeted to a mere $5,000 on paper, succumbing to insolvency.
A recent protest at Cruise HQ in San Francisco garnered attention, with allegations that a Cruise self-driving vehicle had blocked an ambulance. However, video footage suggests that the ambulance was not impeded.
Benitago, which raised approximately $380 million for acquiring e-commerce brands operating on Amazon, filed for bankruptcy this week as the market contracted.
The Ghost in the Machine
While deal activity may be slowing down slightly, the world of AI remains as vibrant as ever.
One notable trend is established players continually adding new features and capabilities. Many of our readers were intrigued by Kyle’s report on Zoom’s rebranding and expansion of its generative AI features, despite some privacy concerns.
OpenAI is determined to spread its conversational AI agent, ChatGPT, far and wide, including into classrooms. They have proposed ways for educators to harness this system, even as concerns about students using AI to cheat persist.
Kyle’s article on AI models occasionally “hallucinating” plausible but incorrect information from existing data caught my attention. It may not be entirely solvable with current-gen systems, but it might not be as dire as it seems.
In the realm of privacy, Sarah reveals that X’s privacy policy confirms its use of public data to train AI models.
The Lean Startup Gets a Boost from AI
Last week, I had a conversation with Steve Blank, often regarded as the father of the lean startup movement. He’s enthusiastic about the role of AI in revolutionizing startups, making them leaner, meaner, and more AI-driven.
A Healthy Dose of Startup News
As someone who appreciates a dash of uniqueness, I’m intrigued by Sam Altman’s backing of Mentra, a platform aiming to match neurodivergent jobseekers with ideal positions. It will be fascinating to see how this endeavor unfolds.
Bladder health may not be the most glamorous topic, but Peony Li, founder of a London-based bladder health startup, just secured $4.24 million in seed funding to expand into the U.S., making it the sole player in this niche.
Fitter, happier, and more productive: Teale recently raised $11 million to support its mental health platform for employees and assist HR managers in preventing burnout and disengagement.
Rent Butter believes that evaluating tenant risk goes beyond traditional background checks and credit scores. They are determined to help landlords rethink tenant screening.
Jerel Ezell, an assistant professor at UC Berkeley School of Public Health, argues that AI could be the catalyst to finally address the opioid epidemic.
