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TechCrunch’s Top 3
- Here yesterday, gone today: “We should have looked more closely at the operations of all participants before entering the competition.” That’s what Slush organizers said after they and the VC pitch judges decided to rescind a $1 million award to Immigram after discovering that the company has ties to Russia. Mike there is more.
- Dark times at Tesla: Tesla has recalled about 350,000, or 1% of the electric vehicles sold in the past two years or so, due to some pretty major problems, including taillights that go out and front airbags that don’t work. Jacqueline write.
- Cloudy with a chance of doom and gloom: No rosy outlook for startups here. Flipkart CEO Kalyan Krishnamurthy didn’t mince words when he warned startups that “a lot of turmoil and volatility” is in the funding outlook over the next 12 to 18 months. Manish reports.
Startups and VCs
Actor Noah Schnapp, who plays Will on the hit Netflix original series Stranger Things, is passionate about tbh, a company he co-founded that aims to “reinvent” hazelnut cocoa for the Nutella spreadreports Mary Ann. The company is turning to crowdfunding to raise money for the vegan alternative.
At our TC Sessions: Crypto event last week in Miami, Darrell sat down a veritable who’s who in crypto to talk about the landscape of crypto regulation. The key findings that all three panelists essentially agreed that the benefit of the FTX situation is that there is now more momentum than ever to achieve some sort of crypto-specific regulatory framework in the US. You can watch the segment on the site.
Here’s a chat of stories to tide you over until the end of your Monday. May you be a light in dark places when all other lights have gone out.
Get product and customer success teams on the same page to improve net retention
You don’t have to move the needle far to optimize customer success. SaaS startups that gradually improve will accumulate small profits that have the potential to change the company’s trajectory.
Instead of a traditional siled approach, bringing product and CX teams together helps align incentives, writes Bryan House, senior vice president of product and customer success at Elastic Path.
“No matter what you call the role, product management, UX and customer success should all report to the same person,” he advises. “This leader must create a structure that shares incentives and common goals aligned with your customers’ measures of success.”
Three more from the TC+ team:
Big Tech Inc.
It’s a bit of déjà vu for Broadcom, that is back under the watchful eye of competition regulators. This time, the UK’s Competition and Markets Authority is looking into the chip giant’s proposal $61 billion deal to buy virtualization software giant VMware. If you don’t remember the last time, it was when Broadcom tried to do it acquire competitor Qualcomm in 2018. The deal was canceled after former President Donald Trump citing national security concerns. gender writes that “both the political and competitive optics are different this time around, so it’s hard to predict how this will all play out,” but he did get a comment from Broadcom about what the company is thinking.
Five more for your Monday: