Daily Crunch: Revolut advises users to be cautious after hacker breach triggers phishing campaign

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Hello, deep fried morsels of delight. Deep fried because that’s what makes you crunch. No? Because it’s the Daily Crunch?

The TechCrunch team got so competitive this season of the Great Tech Bake-off, cooking up an incredible amount of great news in the last 24 hours that it took us nearly 24 hours just to devour the full tasting menu. Don’t worry, we’ve picked out some of the juiciest Michelin-starred news for you, served up in bite-sized bites.

That whole food comparison really doesn’t work, does it? Okay, okay, we’ll cover that a bit more in future newsletters, so there you have it on the menu. — Christine and Hadje

Our most popular dishes

  • Phishing expedition: Revolut has confirmed that it has been hit by a cyberattack, likely the work of a phishing campaign, which ended up exposing the personal data of tens of thousands of users, Carly write.
  • A different kind of fish: While the thought of eating sardines may be gross, this particular sardine was a sweet treat for Andreessen Horowitz, who backed the company’s $51.5 million Series B round so the company could “sniff out fishy fintech transactions “, Anita write.
  • The data is no longer landlocked: “Genie effectively enables the world’s first real-time CRM.” That’s what Salesforce’s Patrick Stokes, GM of the platform, had to say about the company’s new data lake, which brings a new approach to how customer data moves around the platform, Ron reports.

Startups and VCs

Iconic New York venture capital firm Lerer Hippeau has announced $230 million in additional financing in two new funds: LH Seed VIII, which focuses on seed and seed stage companies, and LH Select IV, which invests in Series A to C companies, Christine reports. Oh, and Ben Lehrer is back at the firm full-time after completing the sale of Group Nine Media to Vox Media earlier this year.

Come on, enjoy these:

4 Employment Law Mistakes Startups Can Stop Making Today

A slice of burnt toast with a sad face;  errors in labor law

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

There’s no nice way to say this: When it comes to recruiting, most early-stage startups are either incompetent or uninterested.

At this point in the company’s development, speed and growth are considered more important than basic documentation. And since most first-time founders have no management experience, eventually problems will arise.

In her second TC+ article, attorney Kristen Corpion explores the risks of noncompliance and describes four common mistakes that cause problems down the road.

“By being proactive in addressing employment law issues early on, a startup can set itself up for more seamless scaling,” she writes.

Let us take care of your TC+ wishes:

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

Big Tech Inc.

Spotify, rather Bookify, has released its audiobook streaming service today with over 300,000 titles. Sarah writes that what’s unique about Spotify’s services over other platforms is that “each title has an individual price, rather than having a single, consistent price for all books in the catalog. Spotify intends this to be one of the key differentiators and competitive advantages of its service.”

If you’re an Nvidia fan, Devin, Rebecca and Kyle covered various aspects of the company’s GTC event. We have the new high-end RTX 4090 GPUon Drive Thor chip for autonomous vehicles, services for training large language models and new ones products for robotics developers.

More from the cafe:

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