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Hello, and welcome to Wednesday Crank!
SVB’s new CEO, Tim Myopoulos, had a lot to say in the 24 hours since he joined the bank on Monday. In a private outreach meeting held by SVB for select LPs and investors, he asked clients to return their deposits to the institution. Natasha M Reports.
With lots of love Christine And came
TechCrunch’s Top 3
- Getting mint-yThe big news today is that T-Mobile is buying the parent company of Mint Mobile — you know, the company that Ryan Reynolds owns a stake in — for $1.35 a share. Aisha This move shows that T-Mobile is looking to expand its prepaid offerings.
- I know you are but what am I?Well, if you ask OpenAI’s Greg Brockman, GPT-4 isn’t perfect, but neither are you. Kyle He wrote. oh
- Talk about timing: While introducing its new GPT-4 model behind OpenAI, Quora is launching its own chatbot offering, subscriptions to chat with a GPT-4-powered bot. Ivan Reports.
Startups and VCs
There is no shortage of startups trying to put drones to work. However, there is a long-standing question about the effectiveness of such schemes. Drones – especially the smaller variety – are amazing pieces of technology, but their functionality is relatively limited. A small quadcopter won’t be chopping your trees or walking your dog any time soon. Brian He wrote. One thing they can do exceptionally well is imaging. Verity will collect $32 million as IKEA stores deploy the inventory planes.
To celebrate Wednesday, here are some catchy translations:
Zero-Based Budgeting: A Framework for Extending Proven Runway
Image Credits: Getty Images
Extending runway in this area is critical, but pulling back too much in the wrong place can slow down your entire organization.
Instead of simply cutting a little at the top, many startups are turning to zero-based budgeting, a brutal way for founders to go back to square one “to ensure all line items are relevant and cost-effective each budget period,” writes FP&A. Analyst Hayley Jones
“The best founders need a framework to strategically cut burn while working on their startup’s value drivers.”
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.
Today’s Big Tech theme seems to be “ways to do things easier.” GitHub is the first to create its own guidelines for developing open source software. Paul Companies trying to keep up with open source compliance, security, and the like will soon find this challenging, he wrote. A team of employees spanning countless departments and roles.
Next we go to Waze. If you have an electric vehicle, you want to approach it. Ivan Waze is reporting a new feature that tells EV owners where compatible charging points are on their route.
And we have five more for you:
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