Friday, July 5, 2024

Welcome to TechCrunch PM! We made it to Friday and bring you news about Epic Games getting into it with Apple again, this time in the European Union. And Elon Musk is looking at how xAI's Grok can be better integrated with X. There are also some stories that you may have missed in the holiday haze this week, so now you have some time to catch up. Hope you have a good weekend!

Afternoon must-reads

Image Credits: CHRIS DELMAS/AFP / Getty Images

Epic Games gives Apple a thumbs-down: You may have thought the battle between Epic Games and Apple has calmed down. However, Fortnite maker Epic Games hit a stumbling block in its plans to bring the company's alternative app store, the Epic Games Store, to the EU. The company is saying Apple rejected its submission twice over concerns that its Games Store looked too much like Apple's own App Store. Epic's case represents a high-profile example of how stringent Apple will be with the new rules that permit third-party app stores on iOS for the first time. Excessive rejections could also dissuade other developers interested in testing the waters with their own distribution channels. Read more

Where Grok can be useful in social media: Elon Musk's X is exploring more ways to integrate xAI's Grok chatbot into the social networking app. We may soon see some new features, including the ability to ask Grok about X accounts, use Grok by highlighting text in the app, and access Grok's chatbot through a pop-up on the side of the screen while continuing to use other parts of X. Read more

Jon McNeill on VC 2.0: Transportation editor Kirsten Korosec took to the mic on Equity to talk with Jon McNeill, co-founder and partner of DVx Ventures, to discuss how Elon Musk's pay package has influenced founders, when it makes sense to go light on cash and heavy on equity, and his firm's unique approach to investing that eschews the traditional management fee structure. Read more

Parade of partners at TechCrunch Disrupt: Some of the startup ecosystem's leading tech companies will be there, armed with their expertise, educational resources and connections. They will present sessions on topics that help founders — on every point along the startup journey — take their next steps toward building a solid, successful business. Read more

Stories you may have missed

Image Credits: Beatriz González / Seaya VC

Climate tech success in Spain: Madrid-based VC fund Seaya has closed Seaya Andromeda, an "Article 9" €300 million ($325 million) climate tech fund based out of Madrid. Seaya was around for 12 years, mainly focusing on mission-driven startups in Europe and LatAm. The new Andromeda fund will invest in growth companies that specialize in energy transition, decarbonization, sustainable food value chains, and the circular economy. Read more

Backing diverse teams: When Til Klein and Jochen Beutgen came across Gaingels, the U.S.-based syndicate of angel investors backing LGBTQ+ founders, they wondered why there wasn't a firm looking to do the same for the European LGBTQ+ startup community. Five years later, when a firm like that still didn't exist, Klein and Beutgen decided they should try to launch one themselves. Read more

This week in AI: Go inside why the U.S. Supreme Court struck down the "Chevron deference," a 40-year-old ruling on federal agencies' power that required courts to defer to agencies' interpretations of congressional laws. Read more

Defense tech in the age of war: With global military expenditure reaching $2.4 trillion last year, startups are hoping to get a share of the pie, and formerly reluctant investors are keen to help them do so. Investor appetite is particularly strong for tech solutions with dual-use potential, meaning they can be used for both civilian and military applications. The idea that defense tech can benefit society more broadly is also reflected in the rising concept of "resilience tech." Read more

Fun in fintech: This week's Fintech newsletter took a look at the Evolve Bank hack, three notable acquisitions and Plaid's enterprise customer growth. Read more

Around the web 🌐

AR's future won't just be about glasses: Apple Vision Pro reignited the excitement around augmented reality where traditional virtual reality was falling short. Those big glasses are not something that went mainstream, so CNET reporter Scott Stein went looking for what else is out there. Read more

Inside the Neiman Marcus deal: You probably wouldn't think that one department store company buying another would have a technology angle, and that's where you're wrong. Amazon is involved, and it's bringing its data and logistics expertise to the luxury goods market. Engadget has more

If a woodchuck could chuck wood: Business Insider takes a look at the lumber pricing roller coaster and its effect on the U.S. economy. Read more