Importance Score: 45 / 100 🔵
Welcome to this week’s recap! Today’s edition includes Wix’s latest acquisition, Meta’s fresh smart eyewear, an initial look at the revamped Digg, and much more. Enjoy your weekend!
Smart Eyewear Debut: Meta and Oakley have collaborated to produce a new line of smart glasses capable of recording 3K video, streaming audio, managing calls, and responding to Meta AI requests. Pricing starts at $399, offering double the battery life compared to Meta’s Ray-Ban glasses. A limited-edition Oakley Meta HSTN model will be available on July 11 for around $499.
Unicorn Acquisition: Wix recently acquired Base44, a six-month-old startup for $80 million in cash. Base44 quickly gained popularity as a simplified AI platform designed for constructing web applications. Founded by a single individual, Base44’s rapid growth and profitability made the acquisition highly appealing.
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Innovative Energy Storage: Finland has activated the world’s most substantial sand battery, an installation that utilizes sand to store heat and support the district heating system in Pornainen, thereby decreasing carbon emissions. The system employs inexpensive, readily accessible resources, is housed inside a sizeable container, and can retain heat for prolonged durations. This demonstrates that innovative energy storage does not necessitate exotic resources to combat climate change.
Tech News Roundup
This is TechCrunch’s Week in Review, where we recap the week’s biggest news.
Startup and Tech Industry Updates
VanMoof’s Revival: VanMoof has emerged from bankruptcy with the S6, its initial e-bike post-restructuring. Despite earlier challenges linked to its unique design, the company has upheld its signature style. With backing from McLaren tech and an improved service network, the redesigned VanMoof pledges steadier operations, improved features, and more responsive customer support.
Space-Based Lasers: Baiju Bhatt, co-founder of Robinhood, is venturing into space-based technology by developing lasers. His venture, Aetherflux, has secured $60 million in funding to demonstrate the feasibility of transmitting solar power from space. A planned satellite launch is slated next year, supported by initial contributions from the Department of Defense. Innovative technology in space is in high demand.
SpaceX Incident: One of SpaceX’s Starship prototypes was destroyed during testing in Texas, potentially delaying its next launch, which was tentatively scheduled for June 29. SpaceX reported that the explosion, caused by a pressurized tank failure, resulted in injuries to no one, but it represents another hurdle in the company’s ambitious rocket program.
Spotify Feature Anticipation: Spotify’s long-awaited high-fidelity audio option is still pending release, but new data extracted from the latest app code suggests progress toward launching lossless music streaming. Nevertheless, given earlier postponements and the lack of a set launch date, consumers should temper their anticipation pending confirmation from Spotify.
Digg’s Reinvention: Digg is beta-testing a new iOS version intended as an AI-supported alternative to Reddit. The new platform features a user-friendly design, curated spaces, AI-generated summaries, and features that foster engagement, such as digital Gems and daily leaderboards.
U.S. Navy Innovation: The U.S. Navy is accelerating its collaborations with startups, streamlining logistical processes, and concentrating on outcomes such as improved efficacy and morale. The Department of the Navy CTO Justin Fanelli states a problem-led approach, searching for disruptive technologies in areas like AI, GPS, and system modernizations. Silicon Valley is responding and partnering with the Navy to foster change.
AI Talent Acquisition: Mark Zuckerberg is offering substantial compensation packages—up to $100 million—to entice senior AI experts from OpenAI and DeepMind. However, OpenAI’s Sam Altman says that core team members have declined these opportunities, emphasizing dedication to the company’s objective over financial benefits. Meanwhile, OpenAI proceeds with AI developments and indications of an AI-driven social platform to rival Meta’s initiatives.
Additional News and Stories
San Francisco Startup Social Scene: An after-party for YC’s AI Startup School organized by Cluely attracted huge numbers to the point that event was shut down by authorities and gained notoriety on social media. Founder Roy Lee’s viral marketing promised an engaging event, though the gathering never materialized.