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TechCrunch+ Roundup: SAFE founder survey, replacing a CEO, how cyber insurance works on July 28, 2023 at 5:21 pm

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A friend recently spent months getting into shape for a physical so he could obtain a lower insurance rate. He got the policy and plans to continue working out because he feels so much healthier.

Tech companies that plan to buy cyber insurance are in a similar boat: IT managers must conduct risk assessments and usually add new security measures to qualify, but doing the work can be its own reward.

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Use discount code TCPLUSROUNDUP to save 20% off a one- or two-year subscription.

“In the end, the benefits from working through the process of achieving eligibility for cyber insurance can go far beyond the issuance of a policy,” says security strategist Ilia Sotnikov.

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In this article, he explains “what cyber insurance actually covers,” identifies the critical measures most insurers require and explains why implementing multifactor authentication may not cure every problem.

Thanks for reading, and have a great weekend.

Walter Thompson
Editorial Manager, TechCrunch+
@yourprotagonist

Cyber insurance audit: Painful necessity, or a valuable opportunity?

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Pitch Deck Teardown: Unito’s $20M Series B deck

Pitch Deck Teardown Image Credits: Unito

Unito, a platform that lets customers manage multiple SaaS apps in one place, announced a $20 million Series B round in October 2022.

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“Strategically, the path Unito built makes a lot of sense, and I’m not surprised that this narrative resonated with investors,” writes Haje Jan Kamps, who unpacked the lightly-redacted deck:

Cover slide
Highlights/summary slide
Market context slide
Problem slide
Solution slide
Product slide
How it works slide
Product evolution slide
Growth/traction slide
Competition/positioning slide
Team slide
Summary slide

5 founders discuss why SAFEs are better for early-stage and bridge rounds

While SAFE rounds are considered founder friendly, most founders only think they are a good idea for certain rounds. Image Credits: Bryce Durbin

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Rebecca Szkutak interviewed five founders who raised money via simple agreement for future equity (SAFE) rounds, instead of going the traditional seed/Series A route.

“By the time a startup reaches the Series A stage, this mechanism is less attractive for a variety of reasons,” she writes.

Here’s who she surveyed:

Zach Blank, founder, Hurry
Amy Divaraniya, founder and CEO, Oova
Tory Reiss, CEO and co-founder, Equi
Arman Hezarkhani, founder and CEO, Parthean
Vishwas Prabhakara, founder and CEO, Honey Homes

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Ask Sophie: Which US visas are best for international founders?

Image Credits: Bryce Durbin/TechCrunch

Dear Sophie,

I am from Georgia but I live in Poland. I created my startup in Delaware a few years ago. To realize it and grow it, I need to move to the U.S.

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I have a business plan and a market plan, but no immigration plan. What’s your advice? Which visa should I apply for?

— Global Georgian

Ask Sophie: Which US visas are best for international founders?

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Finding CEO: It’s the new ‘Finding Nemo’

Image Credits: Getty Images / Sakchai Vongsasiripat

It’s rare for a founding CEO to take their company public: As of 2015, “only one-third of startups that reached IPO had their founders as CEOs,” writes Haje Jan Kamps.

Replacing a CEO is a complicated process — senior executives and board members should be aligned, founders must be ready to let go, and the winning candidate needs to get started as quickly as possible.

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“In the majority of cases, there comes a time that you need to have a professionally credentialed CEO to take the company to the next level,” said DeeDee DeMan, founder and CEO of executive search firm Bench International.

“And that’s completely dependent upon the acceptance and the mentality of the founding CEO.”

Finding CEO: It’s the new ‘Finding Nemo’

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How to prevent an ‘operational catastrophe’

Image Credits: MirageC(opens in a new window) /Getty Images

Julia Ivzhenko, head of operations at Futurra, launched a new edtech app with a 20-person team that answered students’ questions in real time.

Network effects drew in a growing stream of new users, but “we concentrated on scaling and didn’t have time to think if the resources of our team were enough to keep going with such speed,” she writes in TC+.

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“To prevent the approaching catastrophe,” she developed a five-step plan that analyzed key processes and highlighted bottlenecks that ultimately generated “a timeline for optimization.”

​ Replacing a CEO is a complicated process: senior executives and board members should be in alignment, and founders must be ready to let go. 

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Politics

Netanyahu’s UN Speech Triggers Diplomatic Walkouts and Mass Protests

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What Happened at the United Nations

On Friday, Israeli Prime Minister Benjamin Netanyahu addressed the United Nations General Assembly in New York City, defending Israel’s ongoing military operations in Gaza. As he spoke, more than 100 delegates from over 50 countries stood up and left the chamber—a rare and significant diplomatic walkout. Outside the UN, thousands of protesters gathered to voice opposition to Netanyahu’s policies and call for accountability, including some who labeled him a war criminal. The protest included activists from Palestinian and Jewish groups, along with international allies.

Why Did Delegates and Protesters Walk Out?

The walkouts and protests were a response to Israel’s continued offensive in Gaza, which has resulted in widespread destruction and a significant humanitarian crisis. Many countries and individuals have accused Israel of excessive use of force, and some international prosecutors have suggested Netanyahu should face investigation by the International Criminal Court for war crimes, including claims that starvation was used as a weapon against civilians. At the same time, a record number of nations—over 150—recently recognized the State of Palestine, leaving the United States as the only permanent UN Security Council member not to join them.

International Reaction and Significance

The diplomatic walkouts and street protests demonstrate increasing global concern over the situation in Gaza and growing support for Palestinian statehood. Several world leaders, including Colombia’s President Gustavo Petro, showed visible solidarity with protesters. Petro called for international intervention and, controversially, for US troops not to follow orders he viewed as supporting ongoing conflict. The US later revoked Petro’s visa over his role in the protests, which he argued was evidence of a declining respect for international law.

BILATERAL MEETING WITH THE PRIME MINISTER OF ISRAEL Photo credit: Matty STERN/U.S. Embassy Jerusalem

Why Is This News Important?

The Gaza conflict is one of the world’s most contentious and closely-watched issues. It has drawn strong feelings and differing opinions from governments, activists, and ordinary people worldwide. The United Nations, as an international organization focused on peace and human rights, is a key arena for these debates. The events surrounding Netanyahu’s speech show that many nations and voices are urging new action—from recognition of Palestinian rights to calls for sanctions against Israel—while discussion and disagreement over the best path forward continue.

This episode at the UN highlights how international diplomacy, public protests, and official policy are all intersecting in real time as the search for solutions to the Israeli-Palestinian conflict remains urgent and unresolved.

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News

Is a Nuclear-Powered Alien Spacecraft Flying Toward Earth?

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A mysterious interstellar object speeding through our solar system has reignited debates about extraterrestrial technology — and whether Earth might currently be under quiet observation.

The object, known as 3I/ATLAS, is only the third confirmed interstellar visitor ever detected. Unlike ordinary comets, however, this cosmic traveler has baffled astronomers with its unusual brightness, strange trajectory, and lack of a visible cometary tail. While most scientists cautiously describe it as a natural body, one leading astrophysicist believes something much stranger is at play.

Harvard Scientist’s Bold Claim

Professor Avi Loeb of Harvard University, head of the Galileo Project, has suggested that 3I/ATLAS may in fact be a nuclear-powered alien spacecraft designed to test how humanity would respond to an interstellar visitor. He argues that its flight path is improbably precise, bringing it close to Mars, Venus, and Earth — a pattern highly unlikely to occur by chance.

Loeb also points out that telescope images show a glow inconsistent with ordinary dust behavior. Instead of trailing behind like a comet, the halo-like light appears to extend in unusual ways, sparking debate about whether the object could be emitting energy of its own.

Headed Toward Earth’s Neighborhood

3I/ATLAS is expected to make its closest approach in late 2025, passing near Mars before swinging by the inner solar system. Although Earth itself will be on the opposite side of the Sun when it comes closest, the alignment will still enable space-based observatories to capture sharper data.

Loeb has called on NASA and other agencies to use spacecraft already stationed near Mars or Jupiter — including the Juno mission — to take high-resolution photographs. He believes such efforts could reveal whether the interstellar object is truly natural, or the first technological probe humanity has ever encountered.

Should We Be Worried?

While most astronomers argue caution before jumping to alien conclusions, Loeb insists that scientific openness is key. “If it’s just a comet, we learn something new,” he said. “But if it’s a spacecraft, it would be the most important discovery in human history.”

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For now, 3I/ATLAS remains a mysterious speck on astronomers’ charts, drifting closer with each passing day. Whether it proves to be a frozen remnant of another star system or something far more advanced, the interstellar visitor has already succeeded in one mission: reminding us how vast and unpredictable the universe really is.

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AI Automation Could Cause Up to 20% Unemployment—A Workforce on the Brink

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Stark Warning from Anthropic CEO Highlights Rapid Job Displacement Risk

The looming threat of widespread unemployment due to AI automation has sparked intense debate among experts, business leaders, and policymakers. Dario Amodei, CEO of Anthropic—the company behind the influential AI language model Claude—issued a stark warning that has sent shockwaves through corporate America:

“Up to half of all entry-level white collar jobs could disappear within the next one to five years, potentially pushing unemployment rates as high as 20% during this period.”

This dramatic forecast paints a picture of a rapid and unsettling transformation in the workforce, driven by AI technologies that can perform complex cognitive tasks.

Balancing Predictions: Worst-Case Scenarios vs. Moderate Impact

However, this forecast represents one end of a spectrum of expert predictions. While Amodei’s warning highlights the worst-case scenario driven by the swift adoption of AI agents capable of coding, analyzing data, drafting legal documents, and managing workflows around the clock, other analyses suggest a more moderate impact. For example, Goldman Sachs estimates that AI could temporarily displace about 6-7% of U.S. jobs, with unemployment rising by approximately half a percentage point during the adjustment period. Their research anticipates a more gradual transition with a mixture of job disruption and creation.

The Unprecedented Speed and Scope of AI-Driven Job Disruption

The truth likely lies somewhere in between. AI is advancing at unprecedented speed, and the scope of jobs affected spans far beyond blue-collar roles to white-collar positions that required college degrees and years of training. Entry-level roles such as customer service representatives, data entry clerks, junior analysts, and administrative assistants face the greatest near-term risk. Mid-level roles in accounting, marketing, law, and engineering could soon follow, with companies already laying off workers citing AI-driven efficiencies.

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Preparing for an AI-Transformed Workforce: Adaptation Is Essential

Ultimately, the AI-driven job transformation is no longer a distant prospect but unfolding now. Whether unemployment spikes to 20% or stabilizes at lower levels depends on many factors, including business adoption rates, government policies, and the ability of workers to reskill. What is certain is that the workforce of tomorrow will look very different from today—and the time to prepare is right now.

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