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Welcome to Startups Weekly — Haje‘s weekly review of everything you ca n’t overleap from the world of startups . Sign uphereto get it in your inbox every Friday .
Ooh ! And I have some fun personal news : I ’m joining theTechCrunch Equity podcast as a conscientious objector - host , alongside the formidably wonderful ( and wonderfully formidable ) Mary Ann Azevedo . You know , just in lawsuit you want my zany humor in your ear - holes , in addition to into your eye - mess .
Most interesting startup stories from the week
warp up for a fantastic ride as we delve into the saga of Newchip , an catalyst that assure startups a golden ticket to succeeder , but alternatively lead them straight to bankruptcy court . Lacey Hunter thought she ’d strike the pot with her AI humanistic financial aid startup TechAid when she connect Newchip ’s program . Spoiler alarum : She did n’t . rather of quicken to glory , Newchip file for failure and auctioned off warrant from 1,000 + startups in an equity yard sale . And misfortunate Hunter ? She hadno choice but to shut down TechAid amid this red-hot raft .
In a savoury turn of events , Microsoft just hit CTRL + Z on U.S. police departmentsusing its Azure OpenAI Service for facial recognition . This update to their T&Cs was as subtle as a rhino in a china shop . In a nutshell : If you have a badge , a handlebar mustache and a pair of mirror aviator , thenno AI nerve games for you !
Trouble in the transportation trenches
Henrik Fisker ’s EV startup , FiskerInc . , is have a bit of a midlife crisis . After launching two prototypes last August — the Pear and Alaska — it has allegedly stiffed the engineering science business firm that helped educate them . The business firm , Bertrandt AG , lodge a $ 13 million lawsuit claimingFisker block defrayal and take for on to their intellectual propertylike some spurned buff refusing to render your favorite sweatshirt . It seems it is n’t just a one - off : It ’s more like an episode of “ Judge Judy ” with over 30 lawsuit aver lemon law violations , claims for recreational wages from former employees and suppliers suing for overdue bills . Even though Fisker ’s VP of communications insist Bertrandt ’s cause is “ without merit , ” this smorgasbord of effectual troubles suggests there may be more cracks in the society than in Humpty Dumpty after his unfortunate wall incident .
Most interesting fundraises this week
Iconiq Capital , the private agency that ’s been babysitting Mark Zuckerberg ’s and Jack Dorsey ’s hard cash piles since 2011 , has justraised a whopping $ 5 billion across two fundsfor its 7th flagship fund . This healthy fundraise position them in the public eye while other big player like Tiger Global set off on their shoelaces with a mere $ 2.2 billion haul ( their modest since 2014 , afterattracting criticism that it was deploying its John Cash too fast ) .
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Other unmissable TechCrunch stories …
Every week , there ’s always a few stories I want to divvy up with you that somehow do n’t match into the categories above . It ’d be a shame if you missed ’em , so here ’s a random snap bag of goodies for ya :
