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The team that went to CES is back at their desks. If you’ve missed a bunch of stories — or simply can’t stay on top of them — Brian He wrote an amazing CES 2023 presentation. When you grab your favorite easy chair and a book for the weekend, you’ll be safe in the knowledge that you’re not missing out on anything big. – Christine And came
TechCrunch’s Top 3
- Slasher movie, but IRLTesla is slashing prices again, this time for US buyers, by up to 20%. Kirsten Reports. This new minimum basis of driving under $55,000 “is important because it allows buyers to qualify for a $7,500 federal tax incentive,” she wrote.
- The nail is out.Fintech startup Mayfair has launched a high-yield APR for businesses with $10 million in funding from investors like Tiger Global. Mary Ann How the company can offer such a high interest rate is more up to you.
- If a, then b: Manish He warned that if the anti-trust decision on Google India is allowed to stand, it will pose a threat to national security and increase the price of Android devices in the region.
Startups and VCs
SPACs don’t seem to be completely dead yet, as WorldView, a company that makes stratospheric balloons for Earth observation and tourism, is going public. Arya Reports. The company announced Friday that it will merge with special purpose acquisition company (SPAC) Leo Holdings Corp. II for $350 million as it seeks to build what it calls a “stratospheric economy.”
And we have five more for you:
You will not grow to your 2021 estimate.
Image Credits: nfsphoto (Opens in a new window) / Getty Images
Many, if not all, of the founders tied to their 2021 value are living in a nightmare, according to Jeremy Abelson and Irving Investors Jacob Sonnenberg.
For this TC+ post, I break down the simple math behind how long it takes companies to price their IPOs in a flat round to their pre-2021 value.
Companies with 75% YOY growth “can entertain the conversation,” but “if you’re growing below 30%, there’s a good chance you won’t be able to grow into your 2021 valuation.”
Three more from the TC+ team:
TechCrunch+ Our membership program helps founders and startup teams stay ahead of the pack. You can register here.. Use code “DC” for 15% off annual subscription!
Big Tech Inc.
Are you walking around Paris right now? Well, this might be your last time. Roman He has a long view of how scooters in Paris are at a crossroads as the city ponders whether to put the brakes on renewing contracts with three companies. As Michael Scott says, “It’s going to be a mess, a wrap.”
Meanwhile, Sarah And Kirsten Tokyo-based news aggregator Smart News has laid off 40% of its staff in the US and China.
And we have five more for you:
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