Daily Crunch: Airtable lays off 250+ as CEO cites importance of 'being lean'

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Hello, Happy Thursday. There is a lot of news today, much of it being published as I write this – for example, the FTC now sued to block Microsoft from buying Activision. So less chatter, more banter. — Christine

TechCrunch’s Top 3

  • Let’s give them something to talk about: With all of ChatGPT’s popularity in the news lately, it’s no surprise that a related company would be top news today. Instead of taking a screenshot, Ivan it says, ShareGPT creates a link to your ChatGPT conversations that you can grab instead.
  • Get your Frappuccino with a side of NFT: Starbucks has opened up its blockchain-based loyalty program and NFT community to its first set of beta testers, Sarah reports. “Journey Stamps” will unlock new experiences beyond the free drinks and food frequent drinkers can get from Stars.
  • Flight in the friendly skies of the capital: There’s something in the air up there. TripActions secured $400 million in credit from Goldman Sachs and Silicon Valley Bank in a move that comes less than two months after the travel expense management company announced a $9.2 billion valuation. Mary Ann there is more.

Startups and VCs

Moving, starting a new job and getting married in a short period of time is the trifecta of stress for anyone (I know from personal experience). In the startup world, that trifecta could happen with marketing technology startup Banzai. Ingrid it says that the company acquired Hyros, raised $100 million and went public through a SPAC. Congratulations?

Meanwhile, France has good venture capital. Mike reported several new funds, including IRIS Capital, which had a first closing of €110 million as it works towards the €150 million target for its new venture fund.

I want more? Here are five more:

To prepare for a downturn, build a model with three cases

Image of intersecting rings with spheres on a green background.

Image Credits: MirageC (opens in a new window) / Getty Images

Startups that develop case models are better prepared to deal with potential setbacks. Visualizing exactly how potential market changes could affect your business is a great way to prepare for the unexpected.

A three-case model tries to predict best-case, worst-case and base-case scenarios, writes Matt Barbieri, managing partner at accounting firm Wiss & Co.

“Usually the base case scenario falls between the extremes. For example, in financial modeling, you could say that Peloton experienced both the ‘best case’ and the ‘worst case’ within a year.”

Four more from the TC+ team:

TechCrunch+ is our membership program that helps founders and startup teams get ahead of the curve. You can register here. Use code “DC” for 15% off annual subscription!

Big Tech Inc.

All the tech layoffs prompted Airtable to issue a memo earlier this week touting its tools for job seekers. Airtable employees may now have to use them. Natasha M reports that the company, which was last valued at $11 billion for its code-free software, over 250 laid off. Not only that, but it looks like the move also involved some executive departuresincluding the Chief Revenue Officer, Chief People Officer and Chief Product Officer.

And here are five more for you:

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