Vicious Antelope Descent - Diva Descent soundbank for U-He Diva Synthesizer is a 30 presets collection of analog sounding polysynths. They fit for cinematic music, techno, progressive rock and metal, new age, sci-fi themed... Read More

Wave Arts release MultiDynamics 7 Waves Arts aim to provide users with possibilities beyond the capabilities of EQ or single-band dynamic processors alone.

Kuassa Efektor Gainia Preamp Bundle A bundle of Efektor Gainia HB, TD and XT at a reduced price – the next generation of digital preamp pedals. Unlock the legendary tones of three iconic classics with Kuassa's renowned... Read More

FTX 2.0 coming up, Multichain FUD and Worldcoin raises six figures: Hodler’s Digest, May 21-27FTX reboot is in the works, Multichain issues spark uncertainty and Sam Altman’s crypto project Worldcoin raises millions of dollars.

Windows adds support for RAR, Netflix cracks down on passwords, and Meta lays off workersWelcome, folks, to Week in Review (WiR), TechCrunch’s regular column that rounds up the week in tech news. Dunno about y’all, but it’s felt like a long one — and I’m thankful for the extended weekend. For those observing Memorial Day, do enjoy. Those not, take the time off where you’re able. We all need rest here and there.
First, a few PSAs.
This week, TechCrunch Live hosted Flint Capital and Sensi.AI, a startup using audio-based software to monitor patients and assist medical staff and family members with care. To those of you who tuned in, many thanks. But if you missed it, not to worry — we’ll have the recording up shortly.
Then, in September, there’s Disrupt, TC’s annual conference. Whether you’re a startup rookie learning the ropes, a seasoned investor searching for the next big thing or a founder hell-bent on changing the world, Disrupt will deliver the tools, knowledge and connections to help you make it happen.
Now, on with the news.
most read
After 28 years, Windows gains RAR support: Devin writes about Microsoft bringing native support for the RAR archive format to Windows. Miraculously, it took the better part of three decades for the .rar file to finally be supported in Windows without any kind of additional software. That’s longer than I’ve been alive, dear readers — not to date myself!
Netflix begins password crackdown: After a delayed launch, Netflix’s crackdown on password sharing is now beginning to roll out to U.S. subscribers and other global markets. The streamer had originally planned to introduce “paid sharing” to U.S. subscribers in the first quarter of this year but pushed the start date back to the summer after seeing cancellations in markets where it had already launched the changes.
More layoffs at Meta: Meta is waging its latest round of layoffs on Wednesday, estimated to impact about 6,000 people. These cuts are part of the company’s so-called Year of Efficiency, in which Meta is being massively restructured to save money and flatten the organization structure.
EU orders Meta suspension: In other Meta news, Meta was hit this week with a formal suspension order requiring it to stop exporting EU user data to the U.S. for processing. Today, the European Data Protection Board announced that Meta has been fined €1.2 billion (close to $1.3 billion), which the Board confirmed is the largest fine ever issued under the bloc’s General Data Protection Regulation (GDPR).
Meta forced to sell: Meta, dominating the headlines once again this week, sold Giphy — the animated GIF search engine it acquired for $400 million three years ago — to Shutterstock. The sale wasn’t voluntary, necessarily; seven months ago, the U.K.’s antitrust authority issued a final order for Meta to sell Giphy, on the grounds that the merger reduced competition.
WhatsApp adds message editing: WhatsApp announced one of the app’s most anticipated features this week — message editing. WhatsApp users can now modify a message within 15 minutes of sending the message. The edited messages will have an “edited” tag next to the time stamp to mark the change.
The problem with paid verification: The fake Pentagon attack hoax that went viral this week shows the perils of Twitter’s paid verification scheme. The gist? The combination of paid blue checks and generative AI makes it all too easy to spread misinformation — and quickly.
Investing in India: Amazon plans to invest $12.7 billion into its cloud business in India by 2030, the e-commerce group said Thursday, as it pushes ahead to scale up the AWS infrastructure in the key overseas market at a time when it has pared back several other services in the region.
Bigger and better: Amazon launched its biggest tablet this week. Called the Fire Max 11, it has an 11-inch screen. The company is pricing the device at $229.99 — offering a cheaper option for users than the 10.9-inch iPad and the new Pixel tablet with a similar-sized screen.
AI to build websites: This week at its annual Build conference, Microsoft launched Copilot in Power Pages — an AI-powered assistant for Microsoft’s low-code business website creation tool — in a preview for U.S. customers. Given prompts, Copilot can generate text, forms, chatbots and web page layouts and can create and edit image and site design themes.
TechCrunch (virtually) in Atlanta
Image Credits: Bryce Durbin (opens in a new window)
On June 7, TechCrunch will host City Spotlight: Atlanta. We have a slate of amazing programming planned, including a fireside chat with Ryan Glover, the co-founder of the fintech Greenwood, as well as a panel that examines the venture ecosystem within the Atlanta region and identifies the best ways to raise and meet with local venture capitalists. But that’s not all. If you are an early-stage Atlanta-based founder, apply to pitch to our panel of guest investors/judges for our live pitching competition; the winner gets a free booth at TechCrunch Disrupt this year to exhibit their company in our startup alley. Register here.
audio
In need of a podcast (or several)? You’ve come to the right place — there’s no shortage of options out of TC HQ. This week on Found, the crew was joined by Sarah Sandnes, the co-founder and CTO of SafetyWing, which is creating a global safety net for remote workers. TechCrunch Live, meanwhile, featured Mark Rostick from Intel Capital and Garima Kapoor from MinIO, a startup that found a niche selling object storage while competing directly with Amazon S3.
TechCrunch+
TC+ subscribers get access to in-depth commentary, analysis and surveys — which you know if you’re already a subscriber. If you’re not, consider signing up. Here are a few highlights from this week:
Profitability over growth: In this piece by Kate, five investors explained their mantra for South Korean startups. Kate spoke to select investors who make investments in the South Korean market to hear their predictions for 2023, their investment strategy, which sectors excite them and more.
Cybersecurity downturn: Alex writes about how, on the back of pretty strong earnings reports and valuations, public cybersecurity companies are outperforming the broader technology segment. Yet, funding for cybersecurity startups has flatlined.
Startups in the enterprise AI race: Another piece by Alex explores whether startups have a shot in enterprise AI. Given how lucrative selling software to large corporations can prove, he notes, the players aren’t chasing a small market.
Windows adds support for RAR, Netflix cracks down on passwords, and Meta lays off workers by Kyle Wiggers originally published on TechCrunch

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Waves launch Gems plug-in collection A collection set to grow featuring powerful plug-ins with user-friendly interfaces and simple controls.

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PPL Momentum Music Fund 10 Year Report PRS report that PPL support has generated £22 million for the UK music industry.

Cor-Tek Gets the DOD/DigiTech Band Together with Team of InnovatorsFollowing its acquisition of the DOD® and DigiTech® brands, Cor-Tek has rebuilt the brand’s Salt Lake City-based research and development team with an impressive staff of key, original members with over 70 years of collective experience with the brands. Longtime DOD/Digitech employees including Jim Pennock, Tom Cram, Roger Johnsen, and Parker Coons are back together again to head up innovation at the company known as “America’s Pedal”.

Jim Pennock is the General Manager and had all the right contacts to rebuild the Salt Lake team. His experience with DigiTech goes back to the mid-1980s when DOD Electronics first launched the DigiTech brand to focus on digital audio. Jim served as VP of Technology and Business Segment Director for DigiTech and holds 17 patents.  Highlights from Jim’s career include the industry’s first multi-effects product (DSP128), multiple generations of custom DSP chips (AudioDNA2), guitar multi-effects (RP1 through RP2000+), countless new DSP effects (think Space Station and GSP2101), and the first downloadable pedal (iStomp).

L-R: Parker Coons, Tom Cram, Jim Pennock, Roger Johnsen

DOD/DigiTech longtime marketer Tom Cram who launched his own pedal company, Spiral Effects, in 2018 has stepped up to lead the product strategy/vision, and social media operations for the team. His time at DOD/DigiTech dates back to 1995, when he started on the production floor but moved to marketing just a year later. After a brief hiatus to tour with his band Honest Engine, he returned to the company, gaining experience in dbx tech support and software. After helping to resurrect the DOD brand in 2012, he officially became the Digitech/DOD Marketing Manager in 2016. 

Roger Johnsen was lured away from designing military drones to come onboard as VP of Engineering at DigiTech/DOD. He’s a 35-year industry veteran who originally assumed the reins for DOD in 1988, taking over from founder David O. DiFrancesco when he left the company.  Roger is credited for being the silent “partner in crime” with DOD innovator Jason Lamb and managing the “Lamb Series” of extreme pedals. Roger is a true innovator and holds 32 U.S. patents from a wide range of start-up companies in Utah.

Parker Coons was working for Skullcandy when he got the call about joining the new team. He previously worked in the DOD/DigiTech engineering department for 10 years as a hardware designer with a deep love for guitar pedals. Parker is a world-class hardware designer with an impressive list of products that he has worked on including Rubberneck, Ricochet, Carcosa, and JamMan Express.

The bench strength of audio design engineers in the Salt Lake area is impressive. The team gets calls daily from many previous employees wanting to help the DOD and DigiTech brands come back to life and grow. 

Visit www.digitech.com

Cronos Labs launches second cohort of $100M Web3 acceleratorOn May 15, the chosen projects commenced the 12-week program after being granted seed funding of $30,000.

CRUEL WORLD FESTIVAL 2023: Brookside Park at The Rose Bowl@KevinEstradaPhotography

The Cruel World Festival returned to Brookside Park at the Rose Bowl in Pasadena, CA for its second year.  Last year’s event resulted in such a quick sell-out that demand for tickets caused the promoter, Goldenvoice, to add an additional night.  Although Cruel World 2023 did not have the ticket sales to force a second night, the nearly sold-out festival took a turn of events that “magically” gave 80’s music fans a second night of music and quite possibly made Cruel World 2023 one of the most memorable and inspirational festivals in decades.  Cancelled talent, last minute replacements, and threatening thunder storms all helped to make the Cruel World Festival the talk of the town.

The day was bright with sun and light clouds, but the crowd was dark with fishnets and black eyeliner – Goth, Electronic, Pop, Rock, Industrial – if it was happening in the early 1980’s, there is a good chance your music heroes will be performing on one of the three stages at the Cruel World Festival.  But it’s not just all about the music at Cruel World, the festival has the unique ability to transport each and every one of its attendees back in time – making everyone feel like school just let out and summer break just began.

Main stage headliners Siouxsie (of the Banshees) were joined by a slew of jaw-dropping 80’s music talent: Iggy Pop, Billy Idol, Echo & The Bunnymen, Gary Numan, Love And Rockets, ABC, Modern English, The Vapors, Gang Of Four, The Human League, and Animotion are just a few of the performers that performed on one of the three festival stages.  As the show approached, Berkley legends, The Motels, dropped out of the festival – the first of a series of unlucky incidents that in the end, turn out to be happy accidents.

Berlin

Gary Numan

With just a week or so before the festival, New Wavers  Berlin, featuring Terri Nunn jumped in to fill the missing slot left by the Motels – making Berlin the only band to perform at Cruel World for two consecutive years.  The Cruel World curse continued as Adam Ant announced he was cancelling his Cruel World Festival performance just 24 hours before showtime.  At the last minute, UK New Wavers, Squeeze stepped in to save the day and fill the empty slot left by Adam Ant.

 KROQ-FM / Sirius XM on-air legend, Richard Blade jump started the Pasadena crowd by introducing acts throughout the day – Animotion, Berlin, Squeeze, The Human League, and Billy Idol.  Love And Rockets, whose members were all on stage at last year’s festival in the form of their Goth-Alter-Egos, Bauhaus – performed their first show in 15 years, making the band one of the most anticipated acts of the day, kicking off their 17-date U.S. reunion tour that is now fully underway.  Echo & The Bunnymen, who pulled out of Cruel World 2022, was also one of the fan favorites at this year’s event.  Q Inspiration Award winner, Ian McUlloch, and his Bunnymen nourished the fans with  hit after hit, keeping the Mercy Music Scene alive.

Squeeze

The Human League

Modern English

As the music roared on and night moved in, so did Mother Nature, causing Cruel World 2023 to come to an early and abrupt end.  Festival organizers were forced to evacuate the crowd due to severe weather and lightning before Siouxsie could take the stage.  The weather alert was issued during the sets of Iggy Pop and The Human League – the last two sets before Siouxsie was set to close out the event.  Pasadena Fire and Police were forced to order the festival closed to ensure the attendees’ safety.

Just as fast as the fans were forced out of the Rose Bowl area, social media was overwhelmed with posts by disappointed and outraged fans.  Festival organizers quickly devised an incredible and truly admirable plan to help remedy the mess that the severe weather conditions created.   Goldenvoice announced a make-up date for the following night featuring extended sets by Gary Numan, Iggy Pop and Siouxsie – unfortunately, The Human League was not asked to take part.  The logistics and costs involved in pulling the make-up date off is astronomical and it is an incredible feat by Goldenvoice and the Cruel World organizers.

Gang of Four

Love and Rockets

Echo and the Bunnymen

Sunday night’s 2023 Cruel World 2.0 went off without a hitch.  Free admission with your previously purchased ticket or bracelet, free parking and over 3 hours of supercharged performances.  Festival organizers had plenty of security on hand, food vendors, first aid teams, as well as merch booths for those who may have been forced to leave before buying their Cruel World goodies.  Of course, there are the fans who could not attend night 2.0 – especially those who travelled from afar to Pasadena for the event and were unable extend their stay.  But, for those fans, Goldenvoice and Cruel World are offering a partial refund for each of their tickets or passes.  Sure, it’s not the same as seeing Siouxsie on stage, but it helps take some of the sting away and it definitely shows that Goldenvoice and Cruel World care for their fans.

My wife and I attended Cruel World 2022 and returned to Cruel World 2023, this time with my cousin and her husband.  Will we be at Cruel World 2024?  Absolutely.  In a world of faceless music festivals, Cruel World has the makings of becoming one of the most important and unique festivals of our time. 

Queen music catalog could be sold this year for over $1 billion, say MBW sourcesMajor music companies including Universal Music Group have been in discussions for the acquisition, we're told, in addition to players from the world of private equity
Source

TechCrunch+ roundup: South Korea investor survey, 1-hour board meetings, venture leasing basicsAfter sales software startup TigerEye closed its Series A and established a board of directors, its co-founders put them on notice:
One thing we’d like to never do is the three-hour, too-in-the-weeds, non-strategic board meeting.
“Every board deck I’ve made and seen is more than 80 pages long,” says Tracy Young, co-founder and CEO of TigerEye. “I am not exaggerating.”

Full TechCrunch+ articles are only available to members.
Use discount code TCPLUSROUNDUP to save 20% off a one- or two-year subscription.

In this TC+ article, she explains how to structure a one-hour board meeting that creates real value for founders and investors. Step one: Replace your enormous deck with a three-page memo.
We’re taking Monday, May 29 off to celebrate Memorial Day, so I’ll be back with another TC+ roundup a week from today.
Have a fantastic weekend!
Walter Thompson
Editorial Manager, TechCrunch+
@yourprotagonist

Early-stage board decks are dead: How to run a meeting in 60 minutes

Why aren’t venture capitalists flocking to fund cybersecurity startups?
Image Credits: RobertAx (opens in a new window) / Getty Images
The accelerated shift to digital has been great for mature cybersecurity companies: Palo Alto Networks, Scaler and CrowdStrike are showing strong revenue multiples, reports Alex Wilhelm.
But there doesn’t appear to be a halo effect for venture-backed cybersecurity startups. According to Crunchbase, funding for companies in this sector fell 58% in Q1 2023 compared to Q1 2022.
“Given that valuations are down across the board, today’s cybersecurity equity prices have been dramatically depressed, even if they remain more expensive than other tech subcategories,” writes Alex.

Why aren’t venture capitalists flocking to fund cybersecurity startups?

Profitability over growth: 5 investors explain their mantra for South Korean startups
Image Credits: Bryce Durbin / TechCrunch
South Korea saw a unicorn boom in recent years, but like the rest of the world, it’s feeling the impacts of a global market correction.
“Venture funding in Asia in the first quarter of 2023 declined 33% from Q4 2023 and 57% from Q1 2022,” reports Kate Park, who surveyed five investors to get their predictions for 2023 and find out how they’re advising their portfolio companies:

Han Kim, general partner, Altos Ventures
Tim Chae, managing partner, 500 Global
JP Lee, CEO and managing partner, SoftBank Ventures Asia
Yeemin Chung, managing director, BRV Capital Management
Eunse Lee, founder and managing partner, 541 Ventures

Profitability over growth: 5 investors explain their mantra for South Korean startups

Ask Sophie: What are my options if a company rescinds my OPT job offer?
Image Credits: Bryce Durbin/TechCrunch
Dear Sophie,
I’m an international student graduating this month, but the company I was supposed to start working for on OPT has rescinded my job offer.
What are my options?
— Grappling Grad

Ask Sophie: What are my options if a company rescinds my OPT job offer?

3 things businesses must do to secure their applications in the AI era
Image Credits: Henrik Sorensen (opens in a new window) / Getty Images
Companies with AI-enabled applications give bad actors a broader attack surface when it comes to phishing, bots and other attempts to access customer accounts.
“We’re already seeing examples of reverse engineering AI-powered sites to get free AI computing,” says Reed McGinley-Stempel, co-founder and CEO of Stych, a customer identification and access management (CIAM) platform.

3 things businesses must do to secure applications in the AI era

Venture leasing: The unsung hero for hardware startups struggling to raise capital
Image Credits: bagi1998 (opens in a new window) / Getty Images
Hardware startups have always been challenged when it comes to high initial capital expenditures and open-ended R&D timelines.
Fortunately, venture leasing creates “a happy medium between costly debt loans and VC funding that works particularly well,” says Felipe Chávez Cortés, CEO and co-founder of robotic food delivery firm Kiwibot.
To bring products to market faster while avoiding dilution, his company closed a $10 million venture leasing deal.
“Hardware companies shouldn’t feel limited to VC funds to finance their high-risk, high-growth operations,” according to Cortés.

Venture leasing: The unsung hero for hardware startups struggling to raise capital

Pitch Deck Teardown: Faye’s $10M Series A deck
Image Credits: Faye
Insurtech startup Faye shared a redacted version of the 19-slide deck its founders used to land a $10 million Series A round.
“Let’s get this out of the way right off the bat,” says Haje Jan Kamps. “This is a truly excellent pitch deck.”

Cover slide
Summary slide
Team slide
Problem slide
Market-size slide
Insurance market overview slide
Product overview slide
Product features slide 1
Product features slide 2
Product features slide 3
Product features slide 4
Go-to-market slide
Financial growth metrics slide
Customer growth metrics slide
Customer validation slide 1
Competitive landscape slide
The Ask slide
Customer validation slide 2
Closing slide with mission statement

Pitch Deck Teardown: Faye’s $10M Series A deck

TechCrunch+ roundup: South Korea investor survey, 1-hour board meetings, venture leasing basics by Walter Thompson originally published on TechCrunch