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Hello, and welcome to your Thursday — aka, the day TikTok’s CEO appeared before Congress. Our team has been working hard all day to keep up with everything going on there, and you can read the fruits of their labor in the Big Tech section. Now, on with the news! — Christine And Hey
The ukbusinessupdates.com Top 3
- More layoffs: The layoffs that hit the tech industry are now making their way to the companies that serve them. Accenture announced today that it will cut 19,000 jobs. Manic reports. That represents about 2.5% of the global workforce, but a striking figure nonetheless.
- Put Kwon in custody: Looks like law enforcement caught up with Terra creator Do Kwon, who was reportedly arrested at Montenegro’s airport, Jaquelyn writes. You may recall that Kwon is under investigation in South Korea after the collapse of Terra/LUNA, which wiped out approximately $40 billion from the cryptocurrency market. Despite saying he was cooperating with police, Kwon’s whereabouts have been unknown since September.
- An excuse not to go to the mall: DoorDash users can now order from Lush Cosmetics, Victoria’s Secret and Party City. The delivery giant has also added some new shopping features, such as search optimization. Aisha has more.
Startups and VC
At first glance, Boston Dynamics is an odd fit for a show like ProMat, Brian writes. For decades, the company has presented a flashy image to the world – a company known for highlight robot reels, from the snow-crossing Big Dog to the parkour-performing Atlas. But a recent approach has shown it faces one of its biggest challenges yet: putting its robots to work in the form of commercialization.
Lun, a climate technology start-up from Denmark, is on a mission to help heat pump installers decarbonise homes and make them fast, Natasha L reports, starting with heating systems and replacing boilers for electric heat pumps.
Robots, heat pumps and five more tech news stories, oh my:
4 Indian investors explain how their investment strategy has changed since 2021
For our latest survey, ukbusinessupdates.com reporter Jagmeet Singh asked four Indian investors how their work has changed since the global tech downturn began.
Venture capital funding in the region “dried up in the second half of 2022,” so he inquired about their current deal-making pace, what investment trends they’re watching, and how founders can reach them:
- GV Ravishankar, Managing Director, Sequoia India
- Ashutosh Sharma, Head of Investment India, Prosus Ventures
- Vaibhav Domkundwar, CEO and Founder, Better Capital
- Roopan Aulakh, Managing Director, Pi Ventures
And of course there are three more from the TC+ team today:
ukbusinessupdates.com+ is our membership program that helps founders and startup teams lead the way. You can sign up here. Use code “DC” for a 15% discount on an annual subscription!
Big Tech Inc.
The big news for today was clearly TikTok, and our colleagues covered everything from the Congressional hearing to who benefits from a US ban. Discover all the new developments here.
And now here are six non-TikTok stories for you: