Rivian has dropped its cheapest trim level due to low customer demand
Rivian is discontinuing the cheapest trim level of its all-electric truck and SUV known as the Explore package due to low demand, according to emails sent this week to customers. The company said in t
Daily Crunch: HBO Max is pulling 36 shows this week — Here’s the list
Hello, friends, and welcome to Daily Crunch, bringing you the most important startup, tech and venture capital news in a single package.
Why do startup valuations go down when interest rates go up?
Despite the focus on interest rates, it is the second aspect — inflation and the consequent government response — that will have the most significant consequences for founders and the public.
Walmart cuts 200 corporate employees, says it will continue hiring in ‘key areas’
Walmart let go of almost 200 corporate employees on Wednesday amid the economic downturn and rising inflation, according to a person familiar with the development. The company said in a statement that
Will a weaker euro lead to greater US investment in European startups?
A strong dollar makes deals in Europe potentially cheaper for American investors and could make selling abroad more attractive to euro-denominated startups.
As the global venture capital market slows, Africa charts its own course
Experts say that most recent deals were finalized months before macroeconomic challenges hit the global VC landscape. This means there’s a lag in what’s reported as the current state of VC in Afri
Tesla increases prices across lineup, with Model X up as much as $6,000
Tesla has upped its prices again, with some models increasing in price by up to $6,000. The automaker has increased prices of its luxury electric vehicles multiple times this year, including a major p
Amid recalls, Ford says costs to build Mustang Mach-E are skyrocketing
Ford Motor is preparing for an economic downturn, despite steady consumer demand for new vehicles, according to the automaker’s chief financial officer. Even though Ford has seen record profits
Diesel is a horrible thing for an economy to depend on
Want to tame inflation? Start by ditching fossil fuels.
Tesla blames inflation, cost pressure from suppliers for increased car prices
Tesla has raised prices on its vehicles as it anticipates cost pressures from suppliers and logistics over the next six to 12 months, the automaker said on Wednesday during its first-quarter 2022 earn
Apple said to be cutting iPhone SE production 20% over Ukraine, inflation concerns
Apple’s latest earnings report found the hardware giant exceeding expectations amid the ongoing chip shortage. All told, the company marked a 9% growth in iPhone sales, as most of the rest of the ma
Looks like we’ll get to test the impact of rising interest rates on tech stocks
It's clear that we're entering a new monetary world here in the United States. Let's see what the impact is on tech.
Some of the biggest names in private equity think this go-go market has another year or two (at least)
Earlier today, as part of a private event, this editor was afforded the opportunity to talk with some of the biggest names in the world of private equity, including Carlyle co-founder David Rubenstein
US e-commerce sales jump 49% in April, led by online grocery
Online retailers are seeing Black Friday-like sales due to the impact of the COVID-19 pandemic on their business. According to new data from Adobe’s Digital Economy Index, U.S. e-commerce jumped
Peter Kraus dishes on the market
During my recent conversation with Peter Kraus, which was supposed to be focused on Aperture and its launch of the Aperture New World Opportunities Fund, I couldn’t help veering off into tangents ab
Janet Yellen eats the world
In a world economy with slow growth and increased uncertainty, policymakers have had two sources for hope -- the tech industry and low interest rates. Could it be these goals are at odds?
CNote looks to upend traditional savings with the help of good timing
Believe it or not, the money you have in your savings account right now is probably losing you money. In today’s economy, inflation outpaces the interest rates that banks pay to encourage saving
Skyrocketing energy drink prices make gas look cheap
I’ve been drinking energy drinks for a about five years less than I’ve been driving a car. At the time I got my license in 1995, gasoline cost about a dollar per gallon and now it’s