November 27, 2022

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Hi! You have one more day just for me before I take a well deserved Friday off and kyle fills in, so I decided to make an extra large version of Daily Crunch. We hope many of you hang out with the cryptocurrency gang down in Miami for TC Sessions: Crypto. As you can see, quite a few stories have already come out of it, and I’m sure there are more to come.

Oh, and if you have 30 minutes of downtime, you’ll enjoy it Alex‘s interview with some corporate communications experts on the pros and cons of working with startups and public companies. Take a look too hey‘s Pitch Deck Teardown by Sateliot, which has a lot going for it but needs last names for its teammates.

Let’s dive into today’s news! — Christine

The Eureka News Now Top 3

Feature Dump: For those of you who love using Google Maps, Google Search and Google Shopping, boy does the company have some new features for you. aisha disassemble them. Put your money where your mouth is: Index Ventures is betting that the economic downturn will spur more startups to form, and is betting $300 million on this horse to win. mike writes. “A goal without a plan is just a wish”: Mozilla released its State of Mozilla report today, and Frederick takes a look at how the Firefox maker sees its next chapter.

Startups and VCs

This is where more cybersecurity M&A takes place Ingrid reports that Palo Alto Networks is buying Cider Security for up to $300 million. This is a move she writes has been rumored to have been for some time, but now some bits have emerged, including informing investors, that make it more likely to happen.

Maria Ann spoke to some crypto-focused venture capitalists, who told her they were already cautious when it came to putting their funds into cryptocurrency, but are now concerned that the fallout from FTX’s collapse could make it harder to get limited partners on board for future funds pick up.

And we have six more for you:

SaaS startups that ignored VC advice to cut sales and marketing were better off this year

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Photo credit: Andriy Onufriyenko (opens in new window) / Getty Images

Many venture capitalists advised the founders to scale back their sales and marketing spend to get the runway this year. And as it turns out, many venture capitalists gave the wrong advice.

According to data from Capchase, a fintech that provides startups with basic capital, “companies that didn’t cut sales and marketing spend were now in a better financial position and growth position than those that did as the market entered 2022 started collapsing,” reported Rebecca Szkutak.

Of the 500 companies surveyed, bootstrap firms showed the strongest growth, said Miguel Fernandez, Capchase co-founder and CEO:

“What we saw in this case, and what’s most interesting, is that the best companies actually reduced every other cost except sales and marketing.”

Three more from the TC+ team:

Eureka News Now+ is our membership program that helps founders and startup teams stay ahead of the competition. Here you can sign up. Use code “DC” for 15% off an annual subscription!

BigTech Inc.

Please enjoy brian‘s extra-large Actuator newsletter today, in which he breaks down Boston’s tech scene, drives across the city, talks to Tye Brady, explores robotics and takes “a field trip to some of Boston’s best startups.”

For those of you who like to tweet in threads, Twitter is working on a feature that will automatically thread long text. Ivan reports. This step will reduce the need to break all your carefully curated words vomit into 280-character chunks.

Meanwhile, over in the land of Binance, co-founder and CEO Changpeng Zhao, aka CZ, spoke to him anita this morning at TC Sessions: Crypto and Romain captured some of the highlights, including CZ’s thoughts on FTX: “We were the last straw that broke the camel’s back.” Then Manic pulled out some comments from CZ related to Binance’s ability to do business in India. Because there is none.

Today there are six more we thought you should read:

On Cloud Nine: Apple’s iCloud website is a little different now, with apps that look like widget-style tiles instead of icons. Ivan writes. More layoffs: Roku says it’s also cutting jobs, citing economic conditions why 200 US employees are being laid off Lauren writes. Misinformation control: PR software giant Cision acquired Factmata, which, if you don’t know, fights fake news, Ingrid reports. Car Porn: Toyota’s new all-electric SUV concept has a sleek look and plant-based seats, jaclyn reports. Surprise, surprise, surprise: Blizzard Activision shocked us all by suspending most of its games in China and citing the expiration of its licensing deals with NetEase. Rita has more. Hello my name is…: We have been following the departures of Meta India but now we have news that Meta has appointed a new Head of India, Manic reports.

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