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Fisker collapsed under the weight of its founder’s promises

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Over the past eight years, famed vehicle designer Henrik Fisker suggested his EV startup would deliver on a lot of promises, but none came true. As Fisker looks for an unlikely rescue, employees told TechCrunch that the blame rests largely on the shoulders of the husband-and-wife team who steer the company.

This week also had a major disturbance in the fintech space. After years of missteps and struggles, the banking-as-a-service fintech Synapse officially went bankrupt. Based on Synapse’s filings, as many as 100 fintechs and 10 million end customers could have been impacted by the company’s collapse.

Elon Musk just got a lot of cash for xAI. The AI startup raised $6 billion at an $18 billion pre-money valuation as it aims to compete with OpenAI, Microsoft and Alphabet.

In other big money moves, Google is investing nearly $350 million into Flipkart. The new investment gives the Walmart-owned Indian e-commerce startup a valuation of $36 billion. Google, which reaches more than half a billion people in India, identifies the South Asian nation as a key overseas market. 

News

Sam Altman walking away from a dissolving OpenAI logo
Image Credits: Darrell Etherington with files from Getty under license

Was Sam Altman fired from Y Combinator?: Paul Graham is setting the record straight. In a series of posts on X, the Y Combinator co-founder brushed off claims that Sam Altman was pressured to resign in 2019 due to potential conflicts of interest. Read More

Spotify doles out Car Thing refunds: Spotify is facing backlash over its decision to discontinue support for its in-car streaming device, Car Thing. Spotify has now instituted a refund process, but some users are asking the company not to brick their devices. Read More

Are earbuds the future of AI hardware?: Unlike generative AI gadgets like Humane’s Ai Pin and Rabbit’s R1, Iyo is aiming to build its technology into an already successful category: the Bluetooth earbud. Read More

Firefly forges on: On the heels of personal tragedy, the Tel Aviv-based startup has raised $23 million for its “infrastructure as code” solution to the growing issue of cloud asset management. Read More

Is Apple going to “sherlock” Arc?: Apple is reportedly planning to release a new technology called “smart recaps” in iOS 18, which appears to closely mimic Arc Search’s innovative “Browse for me” functionality. Read More

Misinformation is so back: A pair of new studies offers evidence that misinformation on social media has the power to change people’s minds. Find out who was most responsible for the vast majority of “fake news” in the studied time periods. Read More

AI models have favorite numbers too: Engineers at Gramener performed an experiment where they asked several major LLM chatbots to pick a random number between 0 and 100 — and the results were fascinating. Read More

Mistral unveils coding model: The French AI startup has released its first generative AI model for coding, dubbed Codestral, which is designed to help developers write and interact with code. Read More

Say hello to meme tech: Is it time to disrupt the meme industry? With Meme Depot, founder Alex Taub aspires to build a comprehensive archive of any meme imaginable with a crypto-focused business model. Read More

AI comes for tutors: The arrival of AI bots is posing a threat to long-established tutoring franchises and professional tutors, and the leading apps are from China. But do they actually help students learn? Read More

Analysis

onyx motorbikes-james Khatiblou
Image Credits: Bryce Durbin

What happens to a company when its founder dies?: Onyx Motorbikes was already in trouble — and then its 37-year-old owner passed away unexpectedly with no will or succession plan, leaving behind millions of dollars in debt. Rebecca Bellan reports on how the ensuing battle for control has put Onyx in legal limbo. Read More

The ‘edgelords’ at OpenAI: Meredith Whittaker has some candid thoughts about the current leadership at OpenAI. Mike Butcher sat down with the Signal president to discuss what she describes as a disrespectful “frat house” contingent of the tech industry in a wide-ranging conversation. Read More

Don’t expect IPOs from these startups: While 2024 is looking to be a better year for tech startups going public, there’s still a number of high-profile companies that are wanting to wait just a little bit longer. From Plaid to Figma, Rebecca Szkutak rounds up the companies that aren’t itching to go public just yet. Read More

More TechCrunch

Ola Electric, India’s largest electric two-wheeler maker, saw its shares rise as much as 20% on its public debut on Friday, making it the biggest listing among Indian firms in…

Ola Electric surges in India’s biggest listing in two years

Rocket Lab surpassed $100 million in quarterly revenue for the first time, a 71% increase from the same quarter of last year. This is just one of several shiny accomplishments…

Rocket Lab’s sunny outlook bodes well for future constellation plans 

In 1996, two companies, Patersons HR and Payroll Solutions, formed a venture called CloudPay to provide payroll and payments services to enterprise clients. CloudPay grew quietly over the next several…

CloudPay, a payroll services provider, lands $120M in new funding

The vulnerabilities allowed one security researcher to peek inside the leak sites without having to log in.

Security bugs in ransomware leak sites helped save six companies from paying hefty ransoms

Featured Article

A comprehensive list of 2024 tech layoffs

The tech layoff wave is still going strong in 2024. Following significant workforce reductions in 2022 and 2023, this year has already seen 60,000 job cuts across 254 companies, according to independent layoffs tracker Layoffs.fyi. Companies like Tesla, Amazon, Google, TikTok, Snap and Microsoft have conducted sizable layoffs in the…

A comprehensive list of 2024 tech layoffs

A new “beta rabbit” mode adds some conversational AI chops to the Rabbit r1, particularly in more complex or multi-step instructions.

Rabbit’s r1 refines chats and timers, but its app-using ‘action model’ is still MIA

Los Angeles is notorious for its back-to-back traffic. Three events that promise to bring in millions of spectators from around the world — the 2026 World Cup, the Super Bowl…

Archer to set up air taxi network in LA by 2026 ahead of World Cup

Featured Article

Amazon is fumbling in India

Amazon’s decision to overlook quick-commerce in India is now looking like a significant misstep.

Amazon is fumbling in India

OpenAI’s GPT-4o, the generative AI model that powers the recently launched alpha of Advanced Voice Mode in ChatGPT, is the company’s first trained on voice as well as text and…

OpenAI finds that GPT-4o does some truly bizarre stuff sometimes

On Thursday, Box filled in a missing piece on its AI platform when it bought automated metadata extracting startup, Alphamoon.

Box adds crucial piece to its AI platform with Alphamoon acquisition

OpenAI has announced a new appointment to its board of directors: Zico Kolter. Kolter, a professor and director of the machine learning department at Carnegie Mellon, predominantly focuses his research…

OpenAI adds a Carnegie Mellon professor to its board of directors

Count Spotify and Epic Games among the Apple critics who are not happy with the iPhone maker’s newly revised compliance plan for the European Union’s Digital Markets Act (DMA). Shortly…

Spotify and Epic Games call Apple’s revised DMA compliance plan ‘confusing,’ ‘illegal’ and ‘unacceptable’

Thursday seeks to shake up conventional online dating in a crowded market. The app, which recently expanded to San Francisco, fosters intentional dating by restricting user access to Thursdays. At…

Thursday, the dating app that you can use only on Thursdays, expands to San Francisco

AI companies are gobbling up investor money and securing sky-high valuations early in their life cycle. This dynamic has many calling the AI industry a bubble. Nick Frosst, a co-founder…

Cohere co-founder Nick Frosst thinks everyone needs to be more realistic about what AI can and cannot do

Instagram is rolling out the ability for users to add up to 20 photos or videos to their feed carousels, as the platform embraces the trend of “photo dumps.” Back…

Instagram is embracing the ‘photo dump’

Welcome back to TechCrunch Mobility — your central hub for news and insights on the future of transportation. Sign up here for free — just click TechCrunch Mobility! Anyone paying…

Lyft ‘opens a can of whoop ass’ on surge pricing, Tesla’s Dojo explained and Saudi Arabia pumps $1.5B into Lucid

Flint Capital just closed its third fund at $160 million. Its has a unique strategy for finding its limited partner investors. 

Flint Capital raises a $160M through an unusual fund-raising strategy

Earlier this week it emerged that the DPC had instigated court proceedings seeking an injunction against X over the data processing without consent.

Elon Musk’s X agrees to pause EU data processing for training Grok

During testing, Google DeepMind’s table tennis bot was able to beat all of the beginner-level players it faced.

Google DeepMind develops a ‘solidly amateur’ table tennis robot

The X account announced that its Premium+ subscription would now be “fully” ad-free, leading some to question how this change would affect creator earnings.

As X sues advertisers over boycott, the app ditches all ads from its top subscription tier

Apple has further revised its compliance plan for the European Union’s Digital Markets Act (DMA) rulebook, which, since March, has forced it to give iOS developers more freedom over how…

Apple revises DMA compliance for App Store link-outs, applying fewer restrictions and a new fee structure

The rise of neobanks has been fascinating to witness, as a number of companies in recent years have grown from merely challenging traditional banks to being massive players in and…

Chime and Dave execs are coming to TechCrunch Disrupt 2024

If you visited the Wikipedia website on mobile this week, you might have seen a pop-up indicating that dark mode is ready for prime time.

How to enable Wikipedia’s dark mode

The home security company says attackers accessed databases containing customer home addresses, email addresses, and phone numbers.

Home security giant ADT says it was hacked

The Looking Glass Pro has a 6-inch display and a foldable base. It shows spatial images like those created with the Apple Vision Pro and iPhone 15 Pro.

Looking Glass’ new lineup includes a $300 phone-sized holographic display

TikTok’s latest offering is capitalizing on the app’s ability to serve as a discovery engine for other media — something its users already take advantage of by sharing short clips…

TikTok partners with Warner Bros. to become a discovery engine for TV and movies

Cocoon is a new startup built on the belief that greener steel production and the creation of concrete slag doesn’t have to be an either/or proposition.

Cocoon is transforming steel production runoff into a greener cement alternative

SoundHound, an AI company that makes voice interface tech used by car companies, restaurants and tech firms, is doubling down on enterprise services by playing consolidator in a crowded market.…

SoundHound acquires Amelia AI for $80M after it raised $189M+

Seeking mental health support is a complex process, but some founders believe that using AI to formalize techniques like cognitive behavioral therapy (CBT) can help folks who might not have…

Feeling Great’s new therapy app translates its psychiatrist co-founder’s experience into AI

The U.K.’s antitrust regulator has confirmed that it’s carrying out a formal antitrust investigation into Amazon’s ties with Anthropic, after Amazon recently completed a $4 billion investment into the AI startup.…

UK launches formal probe into Amazon’s ties with AI startup Anthropic