Founders Ben Schippers and Evette Ellis are riding the EV sales wave

EV sales are driving demand for services and startups that fulfill the new needs of drivers, charging station operators and others. Evette Ellis and Ben Schippers took to the main stage at TC Sessions: Mobility 2021 to share how their companies capitalize off the new opportunities presented by the electric transportation revolution.

Ellis is the co-founder and chief workforce officer of ChargerHelp, an on-demand EV charging station repair company. She spoke about how the company approaches hiring and training, why it engages with workforce development centers, and how training in cohorts makes economic sense. Farther down, we’ll hear from Schippers, the founder of TezLab.

Why the company works with workforce development centers

Workforce development is a government-run and -funded system to connect job seekers with employers, training and career development. There are thousands of job centers across the country, coordinated by the U.S. Department of Labor, that serve millions of Americans. Evette described why she and co-founder Kameale Terry wanted to engage with workforce development from the beginning.

Image Credits: ChargerHelp

We really, really wanted to pioneer this idea that you can work with a workforce development center, who our federal government pays lots of money to train and do all the things that you need to get a great talent source, to create that pipeline, to use those pipelines for industries outside of construction or entry-level medical, but also for tech. Tech is the biggest industry in our country and it’s really running the show right now. We wanted to make sure that underrepresented communities didn’t get left out of this shift that is clearly happening. (Time stamp — 13:54)


Source: Tech Crunch

Telecom giant MTN said to have warned Nigerians of service disruption

Subscribers of MTN, the largest telecom provider in Nigeria, may soon face service disruption in the West African nation, according to a notice seen by some journalists and outlets. 

A rise in insecurity challenges in Nigeria is likely to disrupt MTN’s service, Reuters and others said, citing an alert from customer service reps. Throughout this year, Nigerians have had to battle kidnappings, clashes between farmers and herders, mass abductions of students, and armed robberies.

Sadly, we must inform you that with the rising insecurity in different parts of Nigeria, service delivery to your organization may be impacted in the coming days. This means that in some cases, our technical support team may not be able to get to your site and achieve optimum turnaround time in fault management as quickly as possible,” MTN reportedly said in the message. 

MTN didn’t immediately respond to a request for comment.

When MTN Nigeria published its financial report for Q1 2021, it showed strong growth as data revenue grew by 43% year-on-year to N106 billion ($257 million), contributing to 28% of its total revenue.

Data revenue growth was propelled by a 21% year-on-year jump in active data subscribers to 32.5 million and a 27% year-on-year increase in smartphone penetration to 36.3 million. These numbers reflect MTN’s dominance in Nigeria. Per data from the Nigerian Communications Commission (NCC), the telecom operator is responsible for 43% of Nigeria’s internet subscribers and 38% of the country’s mobile subscribers.

Like most network providers in the country, MTN’s services have been a tale of two experiences: good and subpar. However, Nigerians who spoke with TechCrunch have largely witnessed the latter these past few weeks following the government’s decision to ban Twitter and subsequent fears of internet restriction.

Reports from local media seem to corroborate Reuters, albeit for a different reason: a union’s nationwide strike against all network providers. The union PTECSSAN (Private Telecommunications and Communications Senior Staff Association of Nigeria), which comprises senior telecommunications staff in the country, announced that it would be embarking on a three-day industrial strike starting Wednesday to protest the “arbitrary sack of workers and casualisation.”

PTECSSAN accused telecommunications companies in Nigeria for several reasons in a statement. First, breaching freedom of association and right of workers to organise; victimisation of union members; poor and discriminatory remuneration. They also claimed that telecom operators abused expatriate quotas, practised intimidation, and have harassed and verbally assaulted employees, among other anti-labour practices.

Several MTN customer care agents TechCrunch reached out to were either unaware or refuted the aforementioned message. “We’re not going to have such network glitches,” one said. “Kindly be aware that we dont have any information on any service disruption in the coming days. Once we have any information about that, we’ll let our customers know via messages as soon as possible,” another agent responded.


Source: Tech Crunch

Register to watch a livestream recording of the Equity podcast!

Throughout its four or so years of life, the Equity podcast crew has had the good fortune to record a few live shows. We’ve sat on the small stage at TechCrunch Disrupt, for example, with Garry Tan one year, and Charles Hudson another. We’ve also adventured to other venues and events with varying levels of success.

But it’s 2021 and there are no IRL events coming up, so we’re bringing back the live show, but on Hopin. That means that no matter where you are, you can swing by, talk a little shit with us, troll Danny in the comments, and generally have a good time as we try to remember how to be charismatic.

And you will be able to see the show recorded before Chris and Grace cut out all the awkward mistakes, ums, pauses, and other shenanigans that you miss in the finished versions that we send out.

It’s free, of course, so click here to register, and here to add the shindig to your calendar. If it goes well, we’ll probably get to do more. So, please do swing by if you are free. We’d love to see you.

More details:

  • June 24 at 2:00PM PT
  • Get your ticket HERE

Chat soon! — The Equity Team

 


Source: Tech Crunch

For vehicle safety, the future is now

Every day in the United States, more than 100 people die because of a car crash. Some are teenagers, like the daughter of writer Michael Lewis and Tabitha Soren, and her boyfriend, who died in a wrong-way crash. Some are well known, like Kevin Clark, who played the drummer in “School of Rock,” who was hit and killed by a driver while biking. Others are not household names, like Janell Katesigwa, who was killed by a drunk driver in Albuquerque, New Mexico, and left behind four children.

Something else happens every day, too: a lack of congressional urgency to require available technology to prevent the next tragedy.

Sadly, what is stopping advanced technology from preventing these deaths is business as usual in Washington, which means a lot of talk about saving lives, but little action.

Vehicle safety is based on using layers of protection that have led to a five-fold reduction in the occurrence of car crash deaths in the United States over the last 50 years.

Existing advanced vehicle safety technology, such as driver monitoring systems, automatic emergency braking and lane-departure warnings, can dramatically reduce crashes like the three described above — and the thousands of others that are a result of drunk, drugged, drowsy and distracted driving.

But only if the technology becomes standard equipment in new vehicles. When technology — underwritten by standards, bolstered by oversight and backstopped by accountability — can annually spare tens of thousands of families from tragedy, our federal government must act.

Over the coming weeks and months, Congress will debate the future of motor vehicles in the United States. The debate will be focused on renewing the Surface Transportation Reauthorization Act, which is also referred to as the “highway bill.”

But make no mistake: While issues such as the future of the gas tax and arcane parliamentary procedures will grab headlines, vital decisions will be made about whether the growing and preventable public health crisis of car crash deaths will be prioritized or once again considered non-essential.

Despite the estimated 38,680 highway fatalities last year, which represented a 7.2% increase over 2019, some federal policymakers have failed to focus on available remedies that would result in fewer funerals and a reduction in lifelong debilitating injuries.

Perhaps the delay is a result of too many in Congress who believe the only available solution is rushing unsupervised driverless vehicles into the marketplace. Even if a green light for mass driverless vehicle production were given today, it would be decades before they could make a significant impact on improving overall safety. This single-minded focus on a unicorn to fix all transportation issues misunderstands the technical challenges and misreads the public mood.

A recent AAA survey found 86% of respondents would not trust riding in driverless vehicles, while another found consumers do not feel comfortable sharing the road with them. The technology industry’s habit of beta-testing unproven software on the public, combined with car companies’ track record of delaying safety in exchange for profit, will not increase consumer trust of the safety, inclusivity and equity of driverless technology.

Vehicle safety is based on using layers of protection that have led to a five-fold reduction in the occurrence of car crash deaths in the United States over the last 50 years. Seatbelts and airbags protect you when you crash. Electronic stability control and anti-lock brakes help you avoid rolling over. Regulations provide minimum levels of performance and recalls serve as a backstop to provide oversight when there is a defect.

It is hard to remember, but there was once a time when dual braking systems, intended to provide a safe stop even in the event of a catastrophic failure of one braking system, were considered revolutionary. Now such a layer of protection is standard.

At a time when the promise of automated vehicle technology could make or break America’s place atop the automobile industry, many in Congress want to ignore history and cut away layers of protection to rush driverless vehicles into the marketplace. One Senate proposal creates a fast track for manufacturers to sell tens of thousands of automated vehicles based on a flimsy promise that their vehicle is as safe as the least safe vehicle meeting current minimum standards. No one should forget that the Ford Pinto met all the minimum standards when it was recalled for exploding upon impact when hit from behind. Driverless vehicles should be held to a higher standard than the minimum.

Congress has an opportunity to help build public trust in the safety of driverless technology by requiring existing innovations that will be the building blocks of driverless vehicles into cars right away, with immediate benefits. For example, in the future, automated vehicles will need driver monitoring systems to make smooth handoffs between machine and driver, automated braking to avoid crashes and lane-keeping technology to keep vehicles where they belong. Today these systems, when working correctly, can help limit crashes by assisting human drivers, just as someday these features may assist computer drivers. Using technology to save lives now does not preclude saving more lives later.

As Congress begins to actively debate the future of the automobile industry, there is a lot of talk about upgrading roads, encouraging electric battery-powered vehicles and accelerating the introduction of driverless cars. Yet, there is not nearly enough talk about what is needed to make us all safer sooner.

There have been a variety of reasonable bills introduced to help the U.S. catch up to the rest of the developed world when it comes to vehicle safety and safeguarding pedestrians. They include improving the safety of our back-seat passengers in crashes, better recall procedures, and more robust and transparent data collection, along with requiring advanced safety features now common around the world.

Unfortunately, we have a long way to go and no time to waste. The European Union, despite a larger population and an almost identical number of vehicles and land size, had under 19,000 crash deaths last year, less than half of the U.S. death toll. Further, the EU’s record-low vehicle-related deaths came without a single driverless vehicle on the road, but with robust consumer information and a regulatory scheme that mandates safety.

In the U.S., however, car manufacturers concerned about challenges from new market entrants — foreign and domestic — are lobbying for looser regulations and immunity from responsibility for automated vehicle crashes. Congress must push the industry to move quickly to protect lives before profits and stand behind their products when things inevitably go wrong. The best time to appropriately assign accountability regarding who will be held responsible if a car with a computer driver kills your loved ones, or a systemwide defect impacts an entire driverless fleet, is before the crash.

Moreover, history demonstrates that thoughtful requirements for all vehicles, crafted in a way to keep pace with major innovations in the automobile industry, have always been necessary to ensure vehicle safety is not reserved for the rich alone.

Federal legislation requiring objective performance standards based on data collected from driverless cars being tested on public streets can provide a path to this future. Yet Congress seems poised to do little, or nothing, once again. It is time for policy makers to reconcile the notion that the long-term viability of the driverless vehicle industry and keeping public roads safer now with incremental improvements, federal oversight and legal responsibility are not opposing ideas but necessary partners.

There is no question the U.S. can lead in the coming era of vehicle innovation while improving safety for all drivers, passengers and pedestrians. Success in this ambitious task will require moving forward quickly with existing safety technology and dispensing with the idea that innovations, safety and accountability are incompatible when, in fact, each is integral to the long-term success of the other.


Source: Tech Crunch

Waabi’s Raquel Urtasun explains why it was the right time to launch an AV technology startup

Raquel Urtasun, the former chief scientist at Uber ATG, is the founder and CEO of Waabi, an autonomous vehicle startup that came out of stealth mode last week. The Toronto-based company, which will focus on trucking, raised an impressive $83.5 million in a Series A round led by Khosla Ventures. 

Urtasun joined Mobility 2021 to talk about her new venture, the challenges facing the self-driving vehicle industry and how her approach to AI can be used to advance the commercialization of AVs.


Why did Urtasun decide to found her own company?

Urtasun, who is considered a pioneer in AI, led the R&D efforts as a chief scientist at Uber ATG, which was acquired by Aurora in December. Six months later, we have Waabi. The company’s mission is to take an AI-first approach to solving self-driving technology. 

I left Uber a little bit over three months ago to start this new company, Waabi, with the idea of having a different way of solving self-driving. This is a combination of my 20-year career in AI as well as more than 10 years in self-driving. Thinking about a new company was something that was always in my head. And the more that I was in the industry, the more that I started thinking about going away from the traditional approach and trying to have a diverse view of how to solve self-driving was actually the way to go. So that’s why I decided to do this company. (Timestamp: 1:21)


Source: Tech Crunch

Supreme Court revives LinkedIn case to protect user data from web scrapers

The Supreme Court has given LinkedIn another chance to stop a rival company from scraping personal information from users’ public profiles, a practice LinkedIn says should be illegal but one that could have broad ramifications for internet researchers and archivists.

LinkedIn lost its case against Hiq Labs in 2019 after the U.S. Ninth Circuit Court of Appeals ruled that the CFAA does not prohibit a company from scraping data that is publicly accessible on the internet.

The Microsoft-owned social network argued that the mass scraping of its users’ profiles was in violation of the Computer Fraud and Abuse Act, or CFAA, which prohibits accessing a computer without authorization.

Hiq Labs, which uses public data to analyze employee attrition, argued at the time that a ruling in LinkedIn’s favor “could profoundly impact open access to the Internet, a result that Congress could not have intended when it enacted the CFAA over three decades ago.” (Hiq Labs has also been sued by Facebook, which it claims scraped public data across Facebook and Instagram, but also Amazon Twitter, and YouTube.)

The Supreme Court said it would not take on the case, but instead ordered the appeal’s court to hear the case again in light of its recent ruling, which found that a person cannot violate the CFAA if they improperly access data on a computer they have permission to use.

The CFAA was once dubbed the “worst law” in the technology law books by critics who have long argued that its outdated and vague language failed to keep up with the pace of the modern internet.

Journalists and archivists have long scraped public data as a way to save and archive copies of old or defunct websites before they shut down. But other cases of web scraping have sparked anger and concerns over privacy and civil liberties. In 2019, a security researcher scraped millions of Venmo transactions, which the company does not make private by default. Clearview AI, a controversial facial recognition startup, claimed it scraped over 3 billion profile photos from social networks without their permission.

 


Source: Tech Crunch

How autonomous delivery startups are navigating policy, partnerships and post-pandemic operations

We kicked off this year’s TC Sessions: Mobility with a talk featuring three leading players in the field of autonomous delivery. Gatik co-founder and chief engineer Apeksha Kumavat, Nuro head of operations Amy Jones Satrom, and Starship Technologies co-founder and CTO Ahti Heinla joined us to discuss their companies’ unique approaches to the category.

The trio discussed government regulation on autonomous driving, partnerships with big corporations like Walmart and Domino’s, and the ongoing impact the pandemic has had on interest in the space.

The pandemic effect

Delivery is one of the countless categories that have been profoundly impacted by COVID-19. Interest in autonomous delivery has compounded, but will this be a permanent sea change? Or will things regress some when life returns to normal?

Kumavat: Even before the pandemic hit, this whole e-commerce trend was already on the rise. No one wants their deliveries to be done after a week or two weeks. Everyone is expecting them to be done on the same day, as well as curbside pickup options. There was already a rise in the expectations of e-commerce and on-demand deliveries even before the pandemic hit. Post-March 2020, what we have seen is a huge increase in that trajectory. (Timestamp: 1:55)

Jones Satrom: When you think about the number of trips the consumer used to take just for shopping, that’s roughly 40% of the trips they would take. They now have habits around that kind of stuff. It’s a timesaver for the consumer. We do see those trends continuing and we do see folks sustaining the online ordering piece and wanting to be able to get things when they want them. (Time stamp: 8:39)


Source: Tech Crunch

Nuclear waste recycling is a critical avenue of energy innovation

No single question bedevils American energy and environmental policy more than nuclear waste. No, not even a changing climate, which may be a wicked problem but nonetheless receives a great deal of counter-bedeviling attention.

It’s difficult to paint the picture with a straight face. Let’s start with three main elements of the story.

First, nuclear power plants in the United States generate about 2,000 metric tons of nuclear waste (or “spent fuel”) per year. Due to its inherent radioactivity, it is carefully stored at various sites around the country.

Second, the federal government is in charge of figuring out what to do with it. In fact, power plant operators have paid over $40 billion into the Nuclear Waste Fund so that the government can handle it. The idea was to bury it in the “deep geological repository” embodied by Yucca Mountain, Nevada, but this has proved politically impossible. Nevertheless, $15 billion was spent on the scoping.

Third, due to the Energy Department’s inability to manage this waste, it simply accumulates. According to that agency’s most recent data release, some 80,000 metric tons of spent fuel—hundreds of thousands of fuel assemblies containing millions of fuel rods—is waiting for a final destination.

And here’s the twist ending: those nuclear plant operators sued the government for breach of contract and, in 2013, they won. Several hundred million dollars is now paid out to them each year by the U.S. Treasury, as part of a series of settlements and judgments. The running total is over $8 billion.

I realize this story sounds a little crazy. Am I really saying that the U.S. government collected billions of dollars to manage nuclear waste, then spent billions of dollars on a feasibility study only to stick it on the shelf, and now is paying even more billions of dollars for this failure? Yes, I am.

Fortunately, all of the aggregated waste occupies a relatively small area and temporary storage exists. Without an urgent reason to act, policymakers generally will not.

While attempts to find long-term storage will continue, policymakers should look towards recycling some of this “waste” into usable fuel. This is actually an old idea. Only a small fraction of nuclear fuel is consumed to generate electricity.

Proponents of recycling envision reactors that use “reprocessed” spent fuel, extracting energy from the 90% of it leftover after burn-up. Even its critics admit that the underlying chemistry, physics, and engineering of recycling are technically feasible, and instead assail the disputable economics and perceived security risks.

So-called Generation IV reactors come in all shapes and sizes. The designs have been around for years—in some respects, all the way back to the dawn of nuclear energy—but light-water reactors have dominated the field for a variety of political, economic, and strategic reasons. For example, Southern Company’s twin conventional pressurized water reactors under construction in Georgia each boast a capacity of just over 1,000-megawatt (or 1 gigawatt), standard for Westinghouse’s AP 1000 design.

In contrast, next-generation plant designs are a fraction of the size and capacity, and also may use different cooling systems: Oregon-based NuScale Power’s 77-megawatt small modular reactor, San Diego-based General Atomics’ 50-megawatt helium-cooled fast modular reactor, Alameda-based Kairos Power’s 140-megawatt molten fluoride salt reactor, and so on all have different configurations that can fit different business and policy objectives.

Many Gen-IV designs can either explicitly recycle used fuel or be configured to do so. On June 3, TerraPower (backed by Bill Gates), GE Hitachi, and the State of Wyoming announced an agreement to build a demonstration of the 345-megawatt Natrium design, a sodium-cooled fast reactor.

Natrium is technically capable of recycling fuel for generation. California-based Oklo has already reached an agreement with Idaho National Laboratory to operate its 1.5-megawatt “microreactor” off of used-fuel supplies. In fact, the self-professed “preferred fuel” for New York-based Elysium Industries’ molten salt reactor design is spent nuclear fuel and Alabama-based Flibe Energy advertises the waste-burning capability of its thorium reactor design.

Whether advanced reactors rise or fall does not depend on resolving the nuclear waste deadlock. Though such reactors may be able to consume spent fuel, they don’t necessarily have to. Nonetheless, incentivizing waste recycling would improve their economics.

“Incentivize” here is code for “pay.” Policymakers should consider ways that Washington can make it more profitable for a power plant to recycle fuel than to import it—from Canada, Kazakhstan, Australia, Russia, and other countries.

Political support for advanced nuclear technology, including recycling, is deeper than might be expected. In 2019, the Senate confirmed Dr. Rita Baranwal as the Assistant Secretary for Nuclear Energy at the Department of Energy (DOE). A materials scientist by training, she emerged as a champion of recycling.

The new Biden administration has continued broadly bipartisan support for advanced nuclear reactors in proposing in its Fiscal Year 2022 Budget Request to increase funding for the DOE’s Office of Nuclear Energy by nearly $350 million. The proposal includes specific funding increases for researching and developing reactor concepts (plus $32 million), fuel cycle R&D (plus $59 million), and advanced reactor demonstration (plus $120 million), and tripling funding for the Versatile Test Reactor (from $45 million to $145 million, year over year).

In May, the DOE’s Advanced Research Projects Agency-Energy (ARPA-E) announced a new $40 million program to support research in “optimizing” waste and disposal from advanced reactors, including through waste recycling. Importantly, the announcement explicitly states that the lack of a solution to nuclear waste today “poses a challenge” to the future of Gen-IV reactors.

The debate is a reminder that recycling in general is a very messy process. It is chemical-, machine-, and energy-intensive. Recycling of all kinds, from critical minerals to plastic bottles, produces new waste, too. Today, federal and state governments are quite active in recycling these other waste streams, and they should be equally involved in nuclear waste.


Source: Tech Crunch

Jeff Bezos’ Blue Origin auctions off seat on first human spaceflight for $28M

Blue Origin has its winning bidder for its first ever human spaceflight, and the winner will pay $28 million for the privilege of flying aboard the company’s debut private astronaut mission. The winning bid came in today during a live auction, which saw 7,600 registered bidders, from 159 countries compete for the spot.

This was the culmination of Blue Origin’s three part bidding process for the ticket, which included a blind auction first, followed by an open, asynchronous auction with the highest bid posted to the company’s website whenever it changed. This last live auction greatly ramped up the value of the winning bid, which was at just under $5 million prior to the event.

This first seat up for sale went for a lot more than what an actual, commercial spot is likely to cost on Blue Origin’s New Shepard capsule, which flies to suborbital space and only spends a few minutes there before returning to Earth. Estimates put the cost of a typical launch at someone under $1 million, likely closer to $500,000 or so. But this is the first, which is obviously a special distinction, and it’s also a trip that will allow the winning bidder to pretty much literally rub elbows with Blue Origin founder Jeff Bezos, who is going to be on the flight as well, along with his brother Mark, and a fourth passenger that Blue Origin says it will be announcing sometime in the coming “weeks,” ahead of the July 20 target flight date.

As for who won the auction, we’ll also have to wait to find that out, since the winner’s identity is also going to be “released in the weeks following” the end of today’s live bidding. And in case you thought that $28 million might represent a big revenue windfall for Blue Origin, which has spent years developing its human spaceflight capability, think again: The company is donating it to its Club for the Future non-profit foundation, which is focused on encouraging kids to pursue careers in STEM in a long-term bid to help Bezos’ larger goals of making humanity a spacefaring civilization.

You can re-watch the entire live bidding portion of the auction via the stream below.


Source: Tech Crunch

How many opinions does it take to hit the $100M ARR Club?

In a world of talking points and corporate jargon, opinions are refreshing — and Expensify CEO and founder David Barrett is full of them. One of his earliest lessons in life, for example, was that basically everyone is wrong about basically everything. If instilling that at a young age doesn’t force you to become an entrepreneur, I don’t know what does.

Barrett’s ethos has, as reporter Anna Heim puts, led to Expensify having “its own take on almost everything” from hiring without job titles and resumes, to going distributed before it was cool, to having an almost non-existent sales team.

And before you roll your eyes at the unconventional, here’s a factoid for you: Today, the 130-person expense management business has reached more than 10 million users and hit $100 million in annual revenue.

Heim has spent months working on the Expensify EC-1 to connect dots and give us a full picture into an anything-but-conventional company as it heads toward an IPO. The final installment published this week so you can read the whole series in one straight shot:

In the rest of this newsletter, I’ll walk you through a refresh of some new investment vehicles and two fintech mega-rounds to know. I also want to give a shout out to our mobility team, with transportation editor Kirsten Korosec and reporters Aria Alamalhodaei and Rebecca Bellan, who led efforts to put on a fantastic event at TC Sessions: Mobility this week.

Ok, into the news!

More money, more representation?

Image Credits: Black_Kira / Getty Images

As I discussed last month, venture capital is going through yet another unbundling process. But, for every savvy fintech syndicate out there, I don’t see the same level of explicitness when it comes to the tools that help the communityless, undernetworked and underestimated access opportunities.

Here’s what to know: Two new efforts this week give me hope. Ten venture capitalists teamed up to launch Screendoor, which Forbes reports is a $50 million fund-of-funds to back emerging fund managers from diverse backgrounds. The partners, which include Charles Hudson, Kirsten Green, Aileen Lee and Hunter Walk, will not take any fee or carry in the fund.

Speaking of cross-fund collaboration, Utah-based startup incubator Altitude Lab had similar news to share. The incubator, which spun out of Recursion and the University of Utah, has launched a 13-investor coalition to back underrepresented health tech founders. This week, it announced a $50 million commitment in funding and mentorship.

And if you want to have more fun(ds):

The Fintech twins

Handle of door to bank vault safe

Image Credits: Janet Kimber (opens in a new window) / Getty Images

Three is a trend, but two means twins, and that matters too! Riddles aside, we saw two fintech giants raise massive tranches of capital within days of each other.

Here’s what to know: Klarna raised $639 million at a $45.6 billion valuation, and Nubank raised $750 million at a $30 billion valuation. Both fintech companies are based outside of the United States, but Klarna attests some of its rapid growth to a growing consumer base in the United States. More than 18 million American consumers are now using Klarna, which is up from 10 million at the end of last year’s third quarter. Meanwhile, Nubank is staying focused on its primary market of Brazil, with some expansion in Colombia and Mexico.

 Demystifying mega-rounds:

The huge TAM of fake breaded chicken bits

Another week, another spicy Equity episode for you. And this week, we mean it literally: Simulate, the company behind those sometimes spicy fake chicken nuggets, raised a ton of money.

Here’s what to know: Beyond fake meat, topics in this week’s episode include worker empowerment, culture in startups, eldercare and a $900 million exit.

Around TC

Across the week

Seen on TechCrunch

read more about Apple's WWDC 2021 on TechCrunch

Seen on Extra Crunch

Talk next week,

N


Source: Tech Crunch