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Hey there, fried bites of delight. Deep fried, because that made you crispy. No? Because this is the Daily Crunch?
The australiabusinessblog.com team got so competitive in this season of the Great Tech Bake-off, cooking up an incredible amount of delicious news in the past 24 hours, that it took us nearly 24 hours to digest the full tasting menu. Don’t worry, we’ve selected the juiciest news with the most Michelin stars for you, served in bite-sized pieces.
Our most popular dishes
- Phishing Expedition: Revolut confirmed that it was hit by a cyber attack, probably the work of a phishing campaign, which eventually exposed the personal data of tens of thousands of users, carly writes.
- 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 that the company could make “fishy fintech transactions.” sniff. Anita writes.
- Data is no longer country-specific: “Genie effectively enables the world’s first real-time CRM.” That’s what Patrick Stokes of Salesforce, GM of platform, had to say about the company’s new data lake that offers a new approach to how customer data moves across the platform. Ron reports.
Startups and VC
Iconic New York venture capital firm Lerer Hippeau announced $230 million in additional funding in two new funds: LH Seed VIII, which focuses on pre-seed and seed-stage companies, and LH Select IV, which invests in companies from Series A to c, Christine reports. Oh, and Ben Lerer is back with the company full-time after completing the sale of Group Nine Media to Vox Media earlier this year.
Go on, feast on these:
4 employment law mistakes that startups can no longer make today
There’s no nice way to say this: When it comes to onboarding new employees, most early-stage startups are either inept or disinterested.
At that point in a company’s development, speed and growth are considered more important than the basic paperwork. And since most novice founders have no management experience, eventually problems will arise.
In her second article for TC+, attorney Kristen Corpion examines the risks associated with non-compliance and describes four common mistakes that cause problems later.
“By being proactive about addressing employment law issues early on, a startup can scale itself seamlessly,” she writes.
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Big Tech Inc.
Spotify, more like Bookify, today launched its audiobook streaming service with over 300,000 titles. Sarah writes that what is unique about Spotify’s services compared to other platforms is that “each title is priced individually rather than there is a single, consistent price across all the books in the catalog. Spotify wants this to be one of the most important differentiators and competitive advantages of its service.”
If you’re an Nvidia fan, Devin, Rebecca and Kylea covered various aspects of the company’s GTC event. We have the new high-end RTX 4090 GPU, the Drive Thor chip for autonomous vehicles, services for training large language models and new products for robotics developers.
More from the cafeteria: