Welcome back to Week in Review, our newsletter where we round up many of the top thenewsupdate stories from the past seven days.
Most importantly this week, based on what people read the most, were the details of a memo sent by Y Combinator to the portfolio’s founders.
As the markets continue to slide, YC is telling its portfolio founders it’s time to close the shutters – cut costs, expand the runway and move to a “default alive” state. “For those of you who started your business in the last 5 years,” YC writes, “ask yourself what you think is the normal fundraising environment.”
Manish has the full 10-point email here.
Besides bad news about the markets, what else was going on?
Apple is testing a foldable one?: Is Apple tinkering with the idea of folding phones and/or tablets? Analyst Ming-Chi Kuo says Apple is testing E-Ink displays for the secondary display on an unprecedented “future foldable.” However, as Brian points out, “there’s a big gap between testing and releasing” – in other words, don’t be too surprised if this one never sees the light of day.
NHTSA investigates Tesla crash: Earlier this month, a Tesla Model S “hit a curb and slammed into construction equipment,” killing three. The National Highway Traffic Safety Administration is now investigating the accident to determine whether Tesla’s Autopilot system may have been involved.
DOJ says it will no longer prosecute hackers in good faith: After much, much, much too long, the U.S. Department of Justice is re-evaluating how it looks at hacking cases, for the first time outright stating that “good faith investigations should should not be charged” under the Computer Fraud and Abuse Act.
Haje on Coke’s new cap: “When [Coke] is sending a hand-wringing press release about how great they are at launching a bottle cap where the cap stays on the bottle “for environmental reasons,” Haje writes, “I’m sorry, my blood is just boiling.”
PayPal Ventures alums launch a new fund: Within months of parting with PayPal Ventures, these three alums had amassed a massive new fund of their own. The focus? Fintech and supporting “startups addressing ‘the biggest hurdles’ in today’s financial infrastructure: access, utility, flexibility and cost.”
We have a paywall section of our site called thenewsupdate+. It costs a few dollars a month and it’s full of really good stuff! For example, starting this week:
Solo or co-founder?: You’re starting a business. Are you doing it alone or are you looking for a co-founder? It’s a question I’ve heard asked pretty much every time I’m on a panel with VCs or founders. In this post, DocSend co-founder (acquired by Dropbox in 2021) Russ Heddleston shares his thoughts.
Is Startup Layoffs Accelerating?: It feels like we’re hearing about new layoffs every other day. How fast do startup layoffs go? Alex Wilhelm dives into the data.
Alleviating the lithium shortage in the world: Lithium-ion batteries, as the name suggests, require lithium. But “current lithium mines cannot hope to meet the skyrocketing demand,” writes Tim De Chant. So where shall we take it further? Tim is looking at some possible solutions.