It’s AI Day for Tesla, but we’re here for the grumpy texts • TechCrunch

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Happy Friday! We don’t know about you, but we’re both up for some R&R after going through a wall of scathing texts from the Musk/Twitter lawsuit. We hope you will have some this weekend too.

This afternoon, Tesla is hosting its second AI day. Last year was a hoot, and we also have some predictions for what happens today. — Christina and haje

TechCrunch’s top 3

  • Offensive: Microsoft has confirmed that it is “aware” of certain attacks on its Exchange server. Carly stays on top of the story and reports that there is “no immediate solution”.
  • I look at this sweet capital: pot holder has a scoop that Uniswap Labs, a decentralized exchange, is seeking over $100 million in new funding.
  • Broadcast on: YouTube TV has a new pay-per-view option that allows subscribers to purchase standalone channels without subscribing to the full lineup of channels in its basic package, lauren reports.

Startups and VCs

When insurtech company Metromile went public via a special purpose acquisition company (SPAC) in February last year, it was valued at over $1 billion. A year and five months later, Lemonade acquired the company for less than $145 million. And yet things aren’t as bleak as they seem, Anne reports.

This year, 40% of the world’s population will play games, with total spending approaching $200 billion. Web3 vendors want a slice of this gargantuan market, Rita reports. She writes that reviews of the first generation of crypto games have been well documented, so the question for developers now is what decentralized games should look like.

Let’s do a few more, shall we? Then go:

8 investors weigh in on the state of insurtech in Q3 2022

Hand holding piggy bank with sticky note in front of blackboard showing hand drawn umbrella.  insurtech

Picture credits: Warshi (Opens in a new window) /Getty Pictures

Some services are in such high demand that it can insulate their providers from the vagaries of the market. During an economic downturn, consumers do not reduce their consumption of pet food or toilet paper. Likewise, everyone needs some form of insurance.

Between 2016 and 2022, insurtech startups received around $43 billion in funding, and despite the downturn, most investors who said Anna Heim respondents are still positive about the outlook for the sector:

  • Martha Notaras, General Partner, Brewer Lane Ventures
  • David Wechsler, Director, OMERS Ventures
  • Stephen Brittain and Rob Lumley, Principals and Co-Founders, Insurtech Gateway
  • Florian Graillot, founding partner, Astorya.vc
  • Clarisse Lam, Partner, NewAlpha Asset Management
  • Hélène Falchier, Partner, Portage Ventures
  • Adam Blumencranz, Partner, Distributed Ventures

“We’re just seeing a reality check,” Wechsler said. “Unfortunately, many companies should not have collected as much as they have, or perhaps do not have sustainable business models. These companies will struggle to survive.

Three others from the TC+ team:

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Big Tech inc.

SoftBank recently readjusted corporate valuations, but the latest adjustment is with its own company. kate reports that SoftBank’s Vision Fund has reportedly laid off 30% of its workforce even as it considers a third fund.

Here are five more for you:

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