TC+ Roundup: Did Atlassian pay a fair price for Loom?

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By Karyne Levy

Friday, October 20, 2023

Welcome to TechCrunch+ Friday

Welcome to TechCrunch+ Friday image

Image Credits: skynesher / Getty Images

Good morning, and welcome to Friday!

Atlassian's purchase of Loom last week raised eyebrows, and not just because it missed unicorn status by a hair. But overall, it makes sense that Atlassian bought it. "Teaming and collaboration is moving to async video, and that was the one big piece missing for Atlassian," Constellation Research's Ray Wang told TechCrunch+. But was it worth it?

The company raised $130 million in 2021 at a unicorn valuation, when we were all stuck inside making sourdough and video messaging was hot, hot, hot. Things in 2023 aren't quite as hot, and even though we know that Loom isn't immensely profitable, it was still a pretty good get for Atlassian. So now we're wondering: What will Atlassian buy up next?

Thanks for reading!

Karyne Levy

@karynelevy

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Ask Sophie: How does my immigration status affect export control licensing to build in space tech?

Ask Sophie: How does my immigration status affect export control licensing to build in space tech? image

Image Credits: Bryce Durbin/TechCrunch

Dear Sophie,

I'm working in the U.S. in the aerospace industry on a J-1 research visa. I want to pursue my own space tech startup, but people have mentioned I will have to get an export control license because of my immigration status. Could you explain what I need to be aware of? Any advice?

— Fastidious (Soon-to-Be) Founder

Read More

5 investors on the pros and cons of open source AI business models

5 investors on the pros and cons of open source AI business models image

Image Credits: Bryce Durbin / TechCrunch

There's not necessarily a right or wrong answer to whether AI should be closed source or open source. But several investors we spoke with definitely had an opinion. For example, Dave Munichiello, a general partner at GV, says that open source AI innovation can help users feel a sense of trust because of open source's transparency. But Insight Partners' Ganesh Bell warns that open source projects are often less polished.

We spoke with:

  • Dave Munichiello, general partner, GV
  • Christian Noske, partner, NGP Capital
  • Ganesh Bell, managing director, Insight Partners
  • Ian Lane, partner, Cambridge Innovation Capital
  • Ting-Ting Liu, investor, Prosus Ventures

Read More

All hail the (eventual) Plaid IPO

All hail the (eventual) Plaid IPO image

Image Credits: Ross Marlowe/TPG for TechCrunch

Plaid is hiring its first CFO, which usually means it's on the path to an IPO. As Alex Wilhelm notes, we have "a CFO, recent notes on limited burn, and enough historical information to indicate that the company is IPO-sized already. That all points with a massive, neon arrow toward an eventual IPO."

When that happens, we'll be ready for it. Just need public fintech companies to recover some value first.

Read More

Early-stage founders are optimistic about raising again — but not all of them

Early-stage founders are optimistic about raising again — but not all of them image

Image Credits: Feodora Chiosea / Getty Images

January Ventures released its latest survey of 437 pre-seed and seed-stage founders, and 57% said they're more optimistic now about their ability to raise funds than they were even nine months ago. But not all founders are the same: While 70% of male founders felt optimistic about it, only 45% of women who responded felt the same way, with more than 70% of women saying that they felt their gender was holding them back as an entrepreneur. :(

Read More

Read more stories on TechCrunch.com

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California Today: What has brought you joy in 2023

You grew bushels of tomatoes, watched a solar eclipse and married your best friend, among other delights.
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By Soumya Karlamangla

California Today, Writer

It's Friday. Readers share what has brought them delight this year. Plus, Laphonza Butler says she will not run for Dianne Feinstein's Senate seat next year.

People viewing the annular solar eclipse in San Juan Capistrano last week.Mark Rightmire/Orange County Register, via Getty Images

With the end of October fast approaching, I'm starting to feel as if 2023 is going to be over before I know it.

That has put me in a reflective mood, thinking about what joys, big and small, I've been lucky enough to experience this year. Among them was the recent 90-degree day in San Francisco, during which I sat on a shady bench in Golden Gate Park and soaked in the heat, feeling as if I were thawing after a long chilly summer in the city.

Today I'm sharing some readers' lovely messages about their 2023 delights, a positive note to end our week on.

Please keep sending me your 2023 wins at CAtoday@nytimes.com, and please include your full name and the city where you live.

Here's some of what readers have shared, lightly edited:

"After the darkest years of my life during the pandemic — deep depression, a toxic relationship and the loneliness of a new city — I got to marry my best friend this year. We would never have met without Covid, which uprooted us from our lives in different states and led us to cross paths in San Diego. There's a lesson in there somewhere about clouds and silver linings, but I'm mostly overwhelmed with gratitude to gather our favorite people together in celebration. I'll never take community for granted again!" — Liz Schneider, San Diego

"I am the youngest of seven children. Unfortunately, what that can mean is, all your loved ones die before you. This year two remaining sisters, 95 and 84, died within a couple of months in the spring. It is quite a blow. But, also this year, I met the new great-granddaughter Aurora, who was born in late January. She is a beautiful, mellow, lovable baby. Life takes away and also gives us delights. My sisters would have loved her." — Annie Jelnick, Corona del Mar

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"We've been growing tomatoes since we became members of our community garden in Los Angeles in 2018, but the past years we were not successful in getting many tomatoes despite planting about a dozen plants. This year was different. I tended our tomatoes with so much care and attention. The hard work paid off, and I was able to harvest a basket full of tomatoes of different varieties almost every week this summer. The joy was sharing something I love and worked hard for." — Marissa Balancio, Los Angeles

"The best thing that happened to me this year was being the officiant at my daughter's wedding. I was shocked last year when she and her fiancé asked if I would marry them. 'Why me?' I asked. My daughter replied, 'Because you never cry at weddings.' That was her reason? Really? I'll admit it was difficult not to cry when I saw my husband walking her down the aisle, but the wide smile on her face made me smile broadly, and all thoughts of tears vanished. So, two kids who met on Bumble tied the knot under my loving direction. I'm tearing up now." — Holly Hartz, Moraga

"My partner and I went to Anza-Borrego to see and film the recent solar eclipse. As we sat in lawn chairs with darkened glasses, many campers asked what we were doing. Explanations about the eclipse ensued, and we shared our glasses with many campers. It was especially delightful to share with many middle and high school students. Perhaps the experience will spark an interest in astronomy or science!" — Janet Linnea Means, Laguna Hills

"I observed a pair of Cooper's hawks perching on a branch in the sycamore tree right in front of my deck. This is the third year that they have returned to their nest. After their amazing mating aerials, they perched near their nest to assess what needed to be done to get their nest ready for their next brood. The female hopped into the nest and made a few vocalizations and returned to the branch with her mate. She gently 'beaked' her mate several times. Ahhh, love — what joy." — Merry Wong, Dana Point

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Gov. Gavin Newsom is planning a one-day visit to Israel this week.Haiyun Jiang for The New York Times

The rest of the news

  • Gov. Gavin Newsom is planning a one-day visit to Israel this week, stopping over en route to China where he will discuss policies to curb global warming, The Associated Press reports.
  • Laphonza Butler, who was appointed less than three weeks ago to fill the Senate seat left vacant by Dianne Feinstein's death, announced that she would not run for the office next year.
  • Roger Benitez, a U.S. district judge, overturned California's decades-old ban on assault weapons after finding it "unconstitutional," The Los Angeles Times reports.

Southern California

  • The Institute of Contemporary Art, Los Angeles, is featuring the work of the performance artist Barbara T. Smith in her largest exhibition yet.

Central California

Northern California

  • In an attempt to repair San Francisco's image, some wealthy residents are throwing their support behind a new $4 million ad campaign to promote the city as a hub of innovation and creativity.
  • The Shasta County board of supervisors has appointed James Mu, a physician and critic of Covid vaccine mandates, as the county's new public health officer, The Los Angeles Times reports.

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Where we're traveling

Today's tip comes from Mickey Tomlinson, who recommends some music in Santa Cruz:

"If you are in Santa Cruz any Saturday morning from 10 a.m. to 12 p.m., head to the harbor near the Crow's Nest and the beach, and you will find about 75 seniors playing ukuleles from about a thousand songs we have gathered from the '50s until today. Stop by. I'm the upright bass player behind them."

Tell us about your favorite places to visit in California. Email your suggestions to CAtoday@nytimes.com. We'll be sharing more in upcoming editions of the newsletter.

Tell us

Today we're asking about love: not whom you love but what you love about your corner of California.

Email us a love letter to your California city, neighborhood or region — or to the Golden State as a whole — and we may share it in an upcoming newsletter. You can reach the team at CAtoday@nytimes.com.

The ticket came with a jackpot prize of $18 million, or $8.6 million in cash.Damian Dovarganes/Associated Press

And before you go, some good news

It's a gold rush in the Golden State: The winning ticket for the SuperLotto Plus was sold in Northern California on Wednesday night, KCRA-TV reports.

The ticket, sold to a lucky Californian at Southport Mart in West Sacramento, came with a jackpot prize of $18 million, or $8.6 million in cash. The odds of nabbing the winning ticket, which requires five matching numbers and a bonus number by lottery rules, were 1 in 41,416,353.

The second best SuperLotto Plus ticket, for a prize of $35,095, was sold in Orange County at Garden Grove Superstore.

Thanks for reading. I'll be back on Monday. Have a fun and relaxing weekend. — Soumya

Maia Coleman and Briana Scalia contributed to California Today. You can reach the team at CAtoday@nytimes.com.

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