Friday, October 18, 2024

Welcome to TC PM! Happy Friday! Today we are looking at the latest in the WordPress drama — aren't we always? We are diving into Bluesky's recent growth surge and some recent X updates that users aren't happy about. Have a great weekend!

TechCrunch Top 3

Image Credits: TechCrunch

WP Engine isn't going down without a fight: WP Engine filed an injunction in a California court that asks for its access to the WordPress.org open source repository to be restored to what it was prior to September 20. The saga continues. Read more

Bluesky to the moon: Bluesky continues to see strong growth amid recent stumbles at other social media platforms like X and Instagram. The decentralized social network is now in the top five apps in the U.S. App Store. Read more

Speaking of social media: One potential reason Bluesky is seeing more users as of late is that X is changing how its block function works by making any public post viewable by anyone regardless of who its author has blocked. People aren't happy. Read more

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Afternoon must-reads

Image Credits: X Corp.

Another reason why: Another reason people might not be jazzed about X right now is that the company updated its privacy policy on Wednesday to allow third-party "collaborators" to train their AI on users' posts unless they opt out. Read more

Capital for Acrew Capital: Yesterday, Acrew Capital announced that it had raised $700 million in fresh funds as it turns five years old. The firm was launched in 2019 and now has $1.7 billion in assets under management. Read more

OpenAI's cap table: Microsoft has invested nearly $14 billion into OpenAI. Now, as the AI company prepares to restructure into a for-profit entity, Microsoft looks poised to end up with a substantial equity stake. Read more

Data centers and WP: This week on Equity, the gang unpacks the latest developments in the WP drama; they also look at two public safety drone startups that announced funding this week and Lightmatter's monster round. Listen here

Speaking of Microsoft and OpenAI: This week we learn that there is allegedly a clause in OpenAI's contract with Microsoft that says OpenAI will cut off Microsoft's access to OpenAI if the company builds its own AGI system. The drama! Read more

From accessory sales to energy storage: Terralayr is looking to build the AWS of grid storage by utilizing grid-scale batteries that can store renewable energy. The company was founded by a former luxury watch trader. Read more