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A federal judge rejects the government's attempt to dismiss a lawsuit seeking to stop the release of millions of Americans' records.
Grace, an insurance company for luxury goods, has secured a $6.4 million seed round led by FinTech Collective and Speedinvest. Let’s dive deeper…
In today's ContentBuffer update:
Judge allows lawsuit against OPM, DOGE and Musk to proceed
Grace secures $6.4m seed round for luxury goods insurance
Intel and TSMC form chipmaking joint venture
Ballistic Ventures raises $100 million fund for cybersecurity startups
Zach Yadegari, Cal AI co-founder, reveals college rejections despite impressive credentials.
TikTok Launches 'For Artists' Insights Platform
5 new AI tools & 5 new AI jobs
More tech news
Latest Development
Government-efficiency-records-release
Image source: TechCrunch
Summary: A federal judge has rejected the government's bid to dismiss a lawsuit filed by over 100 current and former federal employees. The lawsuit seeks to stop the release of millions of Americans' records. The ruling allows the lawsuit to proceed, but does not guarantee victory for the plaintiffs.
Key Points:
The lawsuit seeks to block OPM from disclosing records to DOGE and agents of DOGE.
It also wants any information already shared to be returned.
The government had filed a motion to dismiss the lawsuit, which was denied by the judge.
Why it matters: This ruling allows the lawsuit to proceed, potentially impacting the release of millions of Americans' records. The outcome could have significant implications for privacy and data protection.
Fintech
Image source: TechCrunch
Summary: Grace, a luxury goods insurance company, secures $6.4m seed round. The company provides fraud detection, claim processing, and logistic coordination for luxury brands. With this funding, Grace aims to scale across Europe and cover over 200,000 luxury items by the end of the year.
Key Points:
Grace is an insurance company that specializes in luxury goods
The company has secured a $6.4 million seed round led by FinTech Collective and Speedinvest
With this funding, Grace aims to scale across Europe and cover over 200,000 luxury items by the end of the year
Why it matters: This funding will allow Grace to expand its services and provide more comprehensive protection for luxury goods, making it easier for consumers to protect their purchases.
Semiconductor
Image source: TechCrunch
Summary: Intel and TSMC reach a tentative agreement to form a joint venture operating Intel's chipmaking facilities, with TSMC having a 20% stake. TSMC will share some of its chipmaking practices with Intel employees. The development comes after Intel appointed Lip-Bu Tan as CEO, who is looking to make sweeping changes at the company.
Key Points:
Intel and TSMC reach a tentative agreement to form a joint venture operating Intel's chipmaking facilities
TSMC will have a 20% stake in the new venture
TSMC will share some of its chipmaking practices with Intel employees
Why it matters: The partnership could help boost Intel's turnaround efforts and provide training for its employees.
Startups
Image source: TechCrunch
Summary: Ballistic Ventures, a venture capital firm, is raising a new fund worth $100 million to invest in cybersecurity startups. The firm has already invested in 59 startups and made six exits.
Key Points:
The new fund will focus on investing in cybersecurity startups.
Ballistic Ventures targets cybersecurity startups with its hands-on approach.
The firm has appointed Gregory Crabb as CISO-in-residence.
Why it matters: This fundraising highlights the growing importance of cybersecurity investments and Ballistic's continued commitment to supporting innovative startups.
Entrepreneurship Education
Image source: TechCrunch
Summary: Zach Yadegari, co-founder of Cal AI, shares his college rejection story after being rejected by 15 colleges out of 18 top colleges he applied to. He attributes his rejection to his essay, which expressed his reluctance to attend college and his preference for self-taught coding skills.
Key Points:
Zach Yadegari was rejected by 15 colleges despite having a 4.0 GPA and an ACT score of 34.
His essay was likely a major factor in his rejections, as it expressed his reluctance to attend college and his preference for self-taught coding skills.
Yadegari's rejection has sparked a discussion on social media about the college acceptance process and the importance of authenticity in college essays.
Why it matters: Zach Yadegari's story highlights the importance of authenticity in college applications and the challenges faced by students who do not fit traditional molds.
Social Media Music Trends
Image source: TechCrunch
Summary: TikTok launches 'For Artists' insights platform, providing artists with tools to promote their music, understand performance metrics, and engage with fans. The platform will help drive music trends and viral songs, expanding artist reach and growing their audience.
Key Points:
Artists can create campaigns for upcoming releases and promote them on the social network
Platform provides access to performance data and fan insights
Selected fan videos will be displayed in a 'Music Tab Fan Spotlight' section of an artist's profile
Why it matters: The launch of this platform could help artists expand their reach, grow their audience, and drive music trends on TikTok.
New Tools & Job
📨 Newsletter Pilot - AI-powered newsletter generator for easy content creation
📸 PicWish AI - Free online photo editing tool with background removal and more
🔗 Posylanki Links - AI-powered link management app for easy content organization
💬 MessengerX - NSFW AI chat characters for entertainment and monetization
🤖 GPT Prompt - AI-powered prompt engineer for generating effective prompts
QUICK HITS
📰 cognition ai releases devin 2.0 with pay-as-you-go pricing and enhanced features for code generation and project planning.
💼 Join TechCrunch All Stage for a powerhouse event where founders and VCs will come together to forge meaningful connections and gain practical insights.
🏢 Microsoft has pulled back on data center projects around the world, citing concerns about expanding its cloud computing infrastructure too rapidly.
💸 X plans to generate revenue by allowing verified organizations to bid on abandoned usernames.
💸 Trump's tariffs hit Apple's market value hard, causing stock plunge.
THAT’S A WRAP
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