Apple Self Service Repair: macOS & iOS DIY Options Coming in 2022

Daily Crunch: November 17, 2021

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Today's Headlines

Greetings and a warm welcome to Daily Crunch for November 17, 2021. The technology sector experienced a noteworthy day, marked by the announcement of a cryptocurrency startup acquiring the naming rights to a prominent stadium.

This stadium was formerly recognized under the name of a well-known office supply retailer. The event can be interpreted as a sign of cryptocurrency’s increasing mainstream acceptance or, alternatively, as a reflection of the unusual nature of developments in 2021.

Regardless of interpretation, there is much to discuss regarding the day’s events and broader trends. — Alex

Key Takeaway: The acquisition highlights the growing financial influence of the cryptocurrency industry.

TechCrunch's Leading Three Stories

Here's a rundown of the top three tech stories as reported by TechCrunch today.

Apple's New Self-Service Repair Program

Apple has unveiled a new initiative allowing customers to conduct repairs on their own devices. This program, known as Self Service Repair, empowers users to handle common fixes at home.

The announcement is notable, as it represents a surprisingly consumer-focused move from the technology giant. It allows for greater control and potentially lower repair costs for Apple product owners.

Waymo and UPS Expand Autonomous Freight Collaboration

Waymo, Alphabet’s self-driving technology division, is broadening its partnership with UPS, a major parcel delivery service.

This expansion signifies continued progress in the development and implementation of autonomous vehicle technology within the logistics sector. The collaboration aims to optimize freight transportation through self-driving solutions.

The potential benefits of widespread self-driving technology, such as increased safety and efficiency, are driving interest and investment in this field.

Dual Unicorn IPOs: Braze and UserTesting

Today saw the public offerings of two companies previously valued at over $1 billion – commonly referred to as "unicorns."

Braze, a company specializing in customer engagement software, and UserTesting, a platform for user experience testing, both launched their initial public offerings (IPOs).

TechCrunch provided detailed analysis of the IPO pricing and financial aspects of both companies. Furthermore, their team interviewed Braze’s CEO for further insights into the company’s future plans.

Startups and Venture Capital Updates

Prior to delving into recent startup developments, let's examine the status of several unicorn companies. Reports indicate a deceleration in Instacart's growth, prompting TechCrunch to question whether competitors are gaining ground. Instacart, currently valued at multiple billions of dollars, is considered a strong contender for an IPO in 2022.

Notable Funding Rounds and Innovations

Several companies are experiencing significant traction and securing substantial funding. Here’s a breakdown of recent activity:

• Outdoor Recreation Technology: The demand for services facilitating outdoor activities is on the rise. AllTrails recently secured $150 million in funding to further its mission of assisting walkers, bikers, and hikers in exploring the outdoors.
• Specialized Neobanks: The creation of neobanks tailored to specific demographic groups is becoming increasingly prevalent. The relative ease of building fundamental banking infrastructure in 2021, due to readily available components, allows for the proliferation of more focused digital banking solutions. For instance, Jiko is collaborating with Euphoria, a technology platform supporting the transgender community, to introduce a banking application named Bliss.
• Hydrogen Production Technology: DiviGas has successfully raised $3.6 million to scale its operations and meet growing customer demand for its innovative “hollow fiber polymeric membrane” technology, designed to improve hydrogen production. This company warrants attention as a potential solution to a significant technological challenge.
• In-Game Content Creation: Overwolf has secured a substantial investment of $75 million to empower users to create content within their favorite games. Recognizing the creative potential of gaming communities beyond established studios, Overwolf’s funding reflects a belief in both the gaming industry and the power of individual creators.
• Decentralized Digital Asset Trading: The team behind the Anoma protocol has raised $26 million. Expected to launch within approximately one year, Anoma aims to enable the direct exchange of digital assets, bypassing the need for traditional currency intermediaries. The underlying technology appears promising.
• Autonomous Agricultural Tractors: Monarch has secured additional funding, raising $61 million following a $20 million round earlier this year. This influx of capital reflects the growing market for autonomous electric tractors, particularly in light of current labor shortages within the agricultural sector.

These developments highlight the diverse range of innovation occurring across various sectors, fueled by venture capital investment and a focus on addressing evolving market needs.

Four Approaches to Establishing Marketplace Commission Rates

Founders of e-commerce platforms might feel inclined to establish transaction fees slightly above their initial projections. However, prioritizing increased profits through higher fees isn't always the most effective strategy.

While increasing take rates by even a small percentage can provide a short-term revenue boost, particularly during initial stages, it's crucial to consider the potential drawbacks. A higher commission rate generally correlates with a reduction in overall transaction volume, as noted by angel investor and product manager Tanay Jaipuria.

Commission structures should be carefully aligned with the current stage of business development. Platforms implementing higher rates often experience diminished transaction levels.

Jaipuria’s research, encompassing the take rates of over 25 marketplaces – including companies like Apple, Shutterstock, and OpenSea – highlights this dynamic.

He emphasizes that the primary objective shouldn't be simply maximizing the platform's take rate.

Key Considerations for Take Rate Strategy

Understanding the interplay between commission rates and transaction volume is paramount for sustainable growth. A balanced approach is essential.

Focusing solely on revenue maximization can inadvertently stifle platform activity and long-term success.

Instead, founders should prioritize fostering a thriving ecosystem that encourages both buyers and sellers to actively participate.

This involves carefully evaluating the value proposition offered by the marketplace and setting rates that are competitive and fair.

• Consider the specific industry and competitive landscape.
• Analyze the costs associated with operating the platform.
• Regularly monitor transaction volume and adjust rates accordingly.

By adopting a strategic and nuanced approach to take rate setting, marketplace founders can optimize for both profitability and sustainable growth.

Big Tech Inc.

Recent developments highlight shifts and strategies within major technology companies.

Instagram's Threads to Cease Operation

Instagram is preparing to discontinue its 'Threads' application. This follows Meta's previous decision to end support for Direct, a separate Instagram messaging app that preceded Threads.

The move raises questions about Meta’s product lifecycle management, drawing comparisons to Google’s history of discontinuing messaging services.

Spotify Expands Paid Podcast Subscriptions Globally

Spotify is extending its paid podcast subscription model internationally. The music streaming service is now offering this feature worldwide, building on its initial rollout in select markets.

The success of paid podcasts remains uncertain, though current revenue-sharing agreements do not benefit all content creators.

U.K. Investigates App Age Rating Systems

The United Kingdom is scrutinizing the processes used by Apple and Google to determine age ratings for applications. This inquiry reflects ongoing regulatory attention towards U.S. tech companies in Europe.

Authorities are seeking clarity on how these ratings are assigned and whether they adequately protect younger users.

Amazon Introduces Large-Format Echo Show 15

Amazon has released the Echo Show 15, a significantly larger smart display featuring a nearly 16-inch screen. The device is now available for purchase.

While offering a larger interface, concerns remain regarding increased exposure to advertising through the expanded display area.

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