Week in Review: Key Updates
In the latest edition of Week in Review, several significant stories have emerged, including sightings of Slate EVs, updates to Airbnb pricing, a data breach at Blue Shield, and more.
Cluely’s Rise:
Cluely, an AI-based tool that assists users in cheating on exams, sales calls, and job interviews, recently secured a $5.3 million monthly ARR. Despite one co-founder being expelled from Columbia for a related tool and a company advertisement’s shortcomings, Cluely continues to prosper.
Slate EV Unveiled:
Previously operating under the radar, EV manufacturer Slate was reported by TechCrunch to have financial backing from Jeff Bezos. The company plans to price its EV around $25,000 and is currently displaying concept cars in Los Angeles to attract interest.
Tesla’s Financial Decline:
Tesla’s Q1 earnings call revealed a 71% decline in net income compared to the previous year, marking the worst quarter for deliveries in over two years.
Weekly News Recap
Airbnb’s New Pricing Transparency:
Airbnb will now display the total cost, including all charges, for property listings upfront to users.
Adaptive Computer’s Innovation:
Adaptive Computer introduced a “vibe coding” platform that simplifies app development for non-programmers using text prompts. The company announced a $7 million seed round led by Pebblebed.
Teen Social Media Study:
A Pew Research study highlighted that 74% of U.S. teens feel more connected to friends through social media, and 63% view it as a creative outlet, despite proposed legislative changes aimed at improving online experiences for teens.
Blue Shield’s Data Breach:
Blue Shield of California informed customers about a data breach linked to Google Analytics misconfigurations, resulting in unauthorized access to personal and health information.
Bluesky’s Downtime:
Bluesky experienced service downtime due to a DDoS attack, raising questions about the vulnerability of decentralized networks.
Chess.com Growth:
Chess.com reached 200 million members, attributing its growth to ongoing product innovation, as stated by Chief Growth Officer Albert Cheng.
Flow’s Funding Success:
Flow, a proptech company founded by former WeWork CEO Adam Neumann, raised over $100 million, increasing its valuation to around $2.5 billion, despite WeWork’s checkered history.
Analysis: Tesla’s Challenges
The backlash against Elon Musk has escalated to the point where Tesla’s legal team feels obligated to inform investors of potential risks to the company’s brand and business. Sean O’Kane reports on how the changing language in risk factors reflects significant concerns for Tesla.
