Monthly Archives: April 2021

News: Building the right team for a billion-dollar startup

Bain Capital Ventures managing director Sarah Smith talks about how to ensure the critical early hires are the right ones to grow a business.

From building out Facebook’s first office in Austin to putting together most of Quora’s team, Bain Capital Ventures managing director Sarah Smith has done a bit of everything when it comes to hiring. At TechCrunch Early Stage, she spoke about how to ensure the critical early hires are the right ones to grow a business. As an investor at Bain Capital Ventures, Smith has a broad view into the problems that companies face as they search for the right candidate to spur organizational success.

In our conversation, Smith touched on a number of issues such as who to hire and when, when to fire, and how to ensure diversity from the earliest days.


What to consider when you first think about hiring

When a company is making its first hires — and then evolving into a bigger organization — the processes and needs may change, but the culture should be consistent from the beginning, according to Smith. From there, an emphasis on good early managers is critical.

I would really encourage you to take some time to think about what kind of company you want to make first before you go out and start interviewing people. So that really is going to be about understanding and defining your culture. And then the second thing I’d be thinking about when you’re scaling from, you know, five people up to, you know, 50 and beyond is that managers really are the key to your success as a company. It’s hard to overstate how important managers, great managers, are to the success of your company.

So we’ll talk a little bit about how to think about that, as there’s a lot of questions around helping people grow into management for the first time. You, as a founder, might be managing people for the first time, so how to think about setting up the company for success.

(Timestamp: 4:15)


How do you build culture in the new remote environment?

News: Joby Aviation’s Joe Ben Bevirt and Reid Hoffman to talk about building a startup, the future of flight and SPACs

Joby Aviation founder JoeBen Bevirt has spent a more than a decade developing an all-electric, vertical take-off and landing passenger aircraft — an effort that was largely shrouded in secrecy until January 2020 when the company announced a $590 million Series C round of funding that was led by Toyota Motor Corporation. (that round later

Joby Aviation founder JoeBen Bevirt has spent a more than a decade developing an all-electric, vertical take-off and landing passenger aircraft — an effort that was largely shrouded in secrecy until January 2020 when the company announced a $590 million Series C round of funding that was led by Toyota Motor Corporation. (that round later expanded to $620M).

The buzzy announcements continued with Joby’s acquisition of Uber Elevate and then culminated in February with its bid to become a publicly traded company through a merger with Reinvent Technology Partners, a special purpose acquisition company from well-known investor and LinkedIn co-founder Reid Hoffman and Zynga founder Mark Pincus.

Joby is just getting started. The company plans to use capital generated via its public listing to fund the launch of passenger service, which is expected to begin in 2024. And Joby still must complete certification of its aircraft and develop manufacturing facilities, but it is already on its way to achieving both. The company is also planning to begin construction on a 450,000-square-foot manufacturing facility, designed in conjunction with Toyota, later this year.

The upshot: Bevirt has a lot to share. That’s why we’re excited to announced that Bevirt and Hoffman will will join us on our virtual stage at TC Sessions: Mobility 2021. The virtual event, which features the best and brightest minds in the world of mobility, will be held on June 9. Bevirt and Hoffman will discuss building a startup — and keeping it secret while raising funds — the future of flight and of course, SPACs.

The pair will join other speakers TechCrunch has announced, a list that so far, includes investors Clara Brenner of Urban Innovation Fund, Quin Garcia of Autotech Ventures and Rachel Holt of Construct Capital as well as Starship Technologies co-founder and CEO/CTO Ahti Heinla. Stay tuned for more announcements in the weeks leading up to the event.

“We approach it (SPACs) as venture capital at scale,” Hoffman told TechCrunch in a February interview. So it’s not a ‘this year thing,’ it’s a next three years, next five years, next 10 years.”

And yes, Hoffman believes SPACs are here to stay. Although we plan to check in on his stance in June. “I think that it’s valuable to the market and valuable to society have multiple, different paths, by which companies can go public,” Hoffman said.

Early Bird tickets to the show are now available — book today and save $100 before prices go up.

As for Bevirt, the move to go public marks Joby’s readiness to be more open with the rest of the world.

“We think that this is a really exciting moment, where we stand on the threshold of really redefining mobility,” Bevirt said in a previous interview. “And we really want to bring the world along on our exciting journey. Previously, only a very exclusive set of investors has had access to be part of our journey, and it’s really exciting for us to be able to share that more broadly.”

We can’t wait to hear from Bevirt and Hoffman at TC Sessions: Mobility on June 9. Make sure to grab your Early Bird pass before May 6 to save $!00 on tickets and join the fun!

 

News: Reap all the benefits of exhibiting in Startup Alley at Disrupt 2021

If we’ve said it once, we’ve said it 1,000 times. Startup Alley is ground zero for entrepreneurial opportunity. It’s where hundreds of savvy, exhibiting startups increase their brand recognition, connect with investors, grow their network, expand their customer base and garner invaluable media coverage. TechCrunch Disrupt 2021 takes place on September 21-23, and we’ve added new

If we’ve said it once, we’ve said it 1,000 times. Startup Alley is ground zero for entrepreneurial opportunity. It’s where hundreds of savvy, exhibiting startups increase their brand recognition, connect with investors, grow their network, expand their customer base and garner invaluable media coverage.

TechCrunch Disrupt 2021 takes place on September 21-23, and we’ve added new features and experiences to help Startup Alley exhibitors make the most of the virtual expo area. Ready to make a minimal investment for maximum opportunity? Buy a Startup Alley Pass for $199.

Play beat the clock: That super early-bird price remains in effect only until May 13 at 11:59 pm (PST). Get moving, and you’ll save $50.

Here’s what’s new in Startup Alley this year, starting with yet another reason to get your exhibitor’s pass ASAP.

Startup Alley+: TechCrunch will select 50 Startup Alley exhibitors to form an elite cohort. These founders receive — at no additional cost — access to a curated pre-Disrupt experience. You’ll compete in a pitch-off at Extra Crunch Live, attend a series of founder masterclasses and receive introductions to top early-stage investors. It’s specifically designed to provide more opportunities for exposure and growth before Disrupt even opens.

The timing matters because Startup Alley+ begins in July at TC Early Stage: Marketing and Fundraising — and the cohort attends for free. If you want a crack at this opportunity, get your exhibitor pass now.

The Startup Alley Crawl: Every tech category gets a dedicated, hour-long crawl. TechCrunch editors will select several startups from each category and interview the founders live from the Disrupt stage. We’ll list the specific times for each on in the agenda closer to the event.

From Startup Alley to Startup Battlefield: TechCrunch will award two stand-out startups a Startup Battlefield Wild Card. Those founders will get to compete in the thrilling Startup Battlefield for a chance to win $100,000.

Everyone pitches: Every exhibiting startup is eligible for this opportunity. You’ll have two minutes to throw your best pitch across the plate and receive feedback from pitch-savvy TechCrunch staff. Talk about an opportunity to improve and impress. Your pitch session can have long-term benefits — as told to us by Jessica McLean, the Director of Marketing and Communications at Infinite-Compute.

“Disrupt is a great avenue to network with potential investors. It carries a lot of street cred and talking about our CEO’s experience pitching in Startup Alley helps us make those connections and start important conversations.”

TechCrunch Disrupt 2021 takes place on September 21-23. Maximize your opportunities and minimize your investment. Buy your Startup Alley Pass before the super early-bird deadline expires on May 13, at 11:59 pm (PST).

Is your company interested in sponsoring or exhibiting at Disrupt 2021? Contact our sponsorship sales team by filling out this form.

News: Facebook takes down 16,000 groups trading fake reviews after another poke by UK’s CMA

Facebook has removed 16,000 groups that were trading fake reviews on its platform after another intervention by the UK’s Competition and Markets Authority (CMA), the regulator said today. The CMA has been leaning on tech giants to prevent their platforms being used as thriving marketplaces for selling fake reviews since it began investigating the issue

Facebook has removed 16,000 groups that were trading fake reviews on its platform after another intervention by the UK’s Competition and Markets Authority (CMA), the regulator said today.

The CMA has been leaning on tech giants to prevent their platforms being used as thriving marketplaces for selling fake reviews since it began investigating the issue in 2018 — pressuring both eBay and Facebook to act against fake review sellers back in 2019.

The two companies pledged to do more to tackle the insidious trade last year, after coming under further pressure from the regulator — which found that Facebook-owned Instagram was also a thriving hub of fake review trades.

The latest intervention by the CMA looks considerably more substantial than last year’s action — when Facebook removed a mere 188 groups and disabled 24 user accounts. Although it’s not clear how many accounts the tech giant has banned and/or suspended this time it has removed orders of magnitude more groups. (We’ve asked.)

Facebook was contacted with questions but it did not answer what we asked directly, sending us this statement instead:

“We have engaged extensively with the CMA to address this issue. Fraudulent and deceptive activity is not allowed on our platforms, including offering or trading fake reviews. Our safety and security teams are continually working to help prevent these practices.”

Since the CMA has been raising the issue of fake review trading, Facebook has been repeatedly criticised for not doing enough to clean up its platforms, plural.

Today the regulator said the social media giant has made further changes to the systems it uses for “identifying, removing and preventing the trading of fake and/or misleading reviews on its platforms to ensure it is fulfilling its previous commitments”.

It’s not clear why it’s taken Facebook well over a year — and a number of high profile interventions — to dial up action against the trade in fake reviews. But the company suggested that the resources it has available to tackle the problem had been strained as a result of the COVID-19 pandemic and associated impacts, such as home working. (Facebook’s full year revenue increased in 2020 but so too did its expenses.)

According to the CMA changes Facebook has made to its system for combating traders of fake reviews include:

  • suspending or banning users who are repeatedly creating Facebook groups and Instagram profiles that promote, encourage or facilitate fake and misleading reviews
  • introducing new automated processes that will improve the detection and removal of this content
  • making it harder for people to use Facebook’s search tools to find fake and misleading review groups and profiles on Facebook and Instagram
  • putting in place dedicated processes to make sure that these changes continue to work effectively and stop the problems from reappearing

Again it’s not clear why Facebook would not have already been suspending or banning repeat offenders — at least, not if it was actually taking good faith action to genuinely quash the problem, rather than seeing if it could get away with doing the bare minimum.

Commenting in a statement, Andrea Coscelli, chief executive of the CMA, essentially makes that point, saying: “Facebook has a duty to do all it can to stop the trading of such content on its platforms. After we intervened again, the company made significant changes — but it is disappointing it has taken them over a year to fix these issues.”

“We will continue to keep a close eye on Facebook, including its Instagram business. Should we find it is failing to honour its commitments, we will not hesitate to take further action,” Coscelli added.

A quick search on Facebook’s platform for UK groups trading in fake reviews appears to return fewer obviously dubious results than when we’ve checked in on this problem in 2019 and 2020. Although the results that were returned included a number of private groups so it was not immediately possible to verify what content is being solicited from members.

We did also find a number of Facebook groups offering Amazon reviews intended for other European markets, such as France and Spain (and in one public group aimed at Amazon Spain we found someone offering a “fee” via PayPal for a review; see below screengrab) — suggesting Facebook isn’t applying the same level of attention to tackling fake reviews that are being traded by users in markets where it’s faced fewer regulatory pokes than it has in the UK.

Screengrab: TechCrunch

News: Cleo Capital is targeting $20 million for Fund II

Cleo Capital, a venture capital firm founded in 2018 by Sarah Kunst, is raising up to $20 million for its second fund, according to a source familiar with the matter. A recent SEC filing shows that Cleo Capital has already raised $6.7 million of that goal, bringing total assets under management to around $10 million.

Cleo Capital, a venture capital firm founded in 2018 by Sarah Kunst, is raising up to $20 million for its second fund, according to a source familiar with the matter. A recent SEC filing shows that Cleo Capital has already raised $6.7 million of that goal, bringing total assets under management to around $10 million. Kunst was unable to comment on her fundraising efforts.

That new AUM number is close to what Cleo Capital initially set out to do. When Kunst first launched her firm, she targeted a $10 million close. She ended up closing $3.14 million of that goal, and now, she’s back to double down.

Fund II’s $20 million target, if closed, would allow Cleo Capital, which invests in primarily pre-seed companies, to start leading rounds. The firm has already been writing $1 million checks and targets about a 15-20% ownership in its rounds.

“One of the reasons why we are a pre-seed fund is because in seed, especially late-seed, you have everyone from family offices to TikTok stars and rolling funds competing for hot rounds,” she said. “No one is competing in pre-seed.”

There are firms such as Precursor and Hustle Fund that back pre-seed companies, and cut checks around $100,000 and $25,000 to start, respectively. Kunst sees the ability to write a $1 million pre-seed check as a “huge advantage.” Usually early-stage founders without family money or deep networks have to spend a big chunk of time raising their first round. It’s a lot of time to spend fundraising and not building a company. If a firm can cut a big pre-seed check, she thinks that Cleo is “buying back six months of a company‘s runway,” she said.

Like many firms, Cleo Capital has turned to creative measures to diversify deal flow in the era of Zoom investing and pandemic business. For example, Cleo Capital launched a fellowship program for laid off workers during COVID-19 to promote entrepreneurship.

Matt Pauker, a repeat founder who has sold companies to Coinbase and HP Enterprise, was one of the advisors of that program. Pauker has joined Cleo Capital as a general partner presumably to line up with the timing of Fund II.

While the firm has no racial or gender investment focus, about 92% of its current investments are companies started by underrepresented founders.

The firm’s portfolio includes Planet FWD, mmhmm, Lunch Club, and StyleSeat. As for new opportunities, Kunst says that Cleo Capital is looking at anything that helps the individual turn into a collective. With the growth of the creator economy and solo-entrepreneurs, people need to figure out the future of income, health care, and benefit, Kunst explained.

“All of these things are hard for people to do as an individual,” she said. The majority of Cleo Capital’s portfolio is based outside of Silicon Valley.

Cleo Capital’s raise comes just over a week after two venture capital firms founded by Black venture capitalists announced new funds, Harlem Capital and MaC Venture Capital.

News: Amazon defeats warehouse union push, RWDSU challenges results

Efforts to unionize Amazon’s Bessemer, Alabama warehouse were defeated by a wide margin in the second day of vote counting. More than half of the 3,215 votes cast broke in in factor of the retailer. The Retail, Wholesale and Department Store Union, which would have served as the workers’ union, had the vote passed, was

Efforts to unionize Amazon’s Bessemer, Alabama warehouse were defeated by a wide margin in the second day of vote counting. More than half of the 3,215 votes cast broke in in factor of the retailer. The Retail, Wholesale and Department Store Union, which would have served as the workers’ union, had the vote passed, was quick to challenge the results.

RWDSU President Stuart Appelbaum said in a statement offered to TechCrunch,

Amazon has left no stone unturned in its efforts to gaslight its own employees. We won’t let Amazon’s lies, deception and illegal activities go unchallenged, which is why we are formally filing charges against all of the egregious and blatantly illegal actions taken by Amazon during the union vote. Amazon knew full well that unless they did everything they possibly could, even illegal activity, their workers would have continued supporting the union.

That’s why they required all their employees to attend lecture after lecture, filled with mistruths and lies, where workers had to listen to the company demand they oppose the union. That’s why they flooded the internet, the airwaves and social media with ads spreading misinformation. That’s why they brought in dozens of outsiders and union-busters to walk the floor of the warehouse. That’s why they bombarded people with signs throughout the facility and with text messages and calls at home. And that’s why they have been lying about union dues in a right to work state. Amazon’s conduct has been despicable.

This initial defeat represents a large setback in the biggest unionization push in Amazon’s 27 year history. What might have represented a sea change for both the retail giant and blue collar tech workers has, for now, been fairly soundly defeated.

Amazon has, of course, long insisted that it treats workers fairly, making such union efforts unnecessary. The company cites such standards as a $15 an hour minimum wage, a factor the company initial pushed back on, but ultimately instated after pressure from legislators.

It was a hard fought battle on both sides. A number of legislators threw their weight behind unionization efforts, in an unlikely alliance that ranged from Bernie Sanders to Marco Rubio. The conservative Florida Senator noted the company’s “uniquely malicious corporate behavior.” President Joe Biden also sided with the workers, calling himself, “the most pro-union president you’ve ever seen.”

The company will no doubt tout the results as vindication. It noted in an early statement, “[O]ur employees are smart and know the truth—starting wages of $15 or more, health care from day one, and a safe and inclusive workplace. We encourage all of our employees to vote.” We’ve reached out to the company for a statement following this morning’s news.

Among the expected challenges from the union are lingering questions around ballot boxes reportedly installed by the company in violation of labor board terms.”[E]ven though the NLRB definitively denied Amazon’s request for a drop box on the warehouse property, Amazon felt it was above the law and worked with the postal service anyway to install one,” the RWDSU writes. “They did this because it provided a clear ability to intimidate workers.”

The Bessemer warehouse, which employees around 6,000 workers, was opened at the end of March 2020, as the company looked to expand the operation of its essential workers during the impending lock down. The conversation has surface variously long standing complaints around the company’s treatment of blue collar workers, including numerous reports that employees urinate in water bottles, in order to meet stringent performance standards.

The company initially denied these claims during a social media offensive, but later clarified its stance in an apology of sorts, appearing to shift the blame to wider industry problems. The company also ran anti-union ads on its subsidiary, Twitch, before the streaming platform pulled them, stating that they “should never have been allowed to run.”

All told, 3,215 were cast, representing more than half of the workers at the Alabama warehouse. In spite of Amazon winning more than half the votes, counting will continue. Challenges are likely to stretch on for weeks.

News: Mortgage is suddenly sexy as SoftBank pumps $500M in Better.com at $6B valuation

Digital mortgage lender Better.com has raised a $500 million round from Japanese investment conglomerate SoftBank that values the company at $6 billion. The financing is notable for a few reasons. For one, that new $6 billion valuation,  is up 50% from the $4 billion it was valued at last November when it raised $200 million

Digital mortgage lender Better.com has raised a $500 million round from Japanese investment conglomerate SoftBank that values the company at $6 billion.

The financing is notable for a few reasons. For one, that new $6 billion valuation,  is up 50% from the $4 billion it was valued at last November when it raised $200 million in Series D financing. It’s also up tenfold from its $600 million valuation at the time of its Series C raise in August 2019.

Secondly, it’s further proof that mortgage – a traditionally “unsexy” industry that has long been in need of disruption – is officially hot. For all its controversy, when SoftBank invests, people pay attention.

The COVID-19 pandemic and historically-low mortgage rates fueled acceleration in the online lending space in a way that no one could have anticipated. That, combined with the general fervour in venture funding, means it’s not a big surprise that Better.com has raised $700 million in just a matter of months.

The investment brings Better.com’s total funding raised to over $900 million since its 2014 inception. Other backers include Goldman Sachs, Kleiner Perkins, American Express, Activant Capital and Citi, among others.

According to the Wall Street Journal, SoftBank is buying shares from Better’s existing investors, and agreed to give all of its voting rights to CEO and founder Vishal Garg “in a sign of its eagerness” to invest in the company. 

During a one-on-one interview at Lendit Fintech’s USA 2020 virtual event in October, Garg had told me that an IPO was definitely in the works.

“We’ll do it when it’s right,” he said. “One of the core tenets of American capitalism is the ability for your customers to buy your stock.”

And in February, Bloomberg had reported that the startup had  tapped Morgan Stanley and Bank of America Corp. for a planned initial public offering in the U.S. But there’s been no further word since. It’s not unusual for companies to raise large sums before an IPO. Affirm did it last year, for example.

Also last October, Varg had told me that before the pandemic, Better was processing about $1.2 billion a month in loans. But as of October 2020, it was funding over $2.5 billion per month, and had gone from 1,500 staffers to about 4,000 worldwide. 

“When the pandemic started we were doing less than sort of like $50 million a month of revenue,” he said. “We’re two-and-a half times that now.”

News: The 2022 Chevrolet Bolt EUV lowers the cost of entry for some of GM’s most advanced tech

The 2022 Chevy Bolt EUV may look like a larger, slightly longer Chevrolet Bolt, but under that boxy exterior lies a whole lot of tech that’s both affordable and very advanced. With the launch of the Chevy Bolt EUV, and its available suite of advanced driver assistance systems, GM is putting both advanced driver assistance

The 2022 Chevy Bolt EUV may look like a larger, slightly longer Chevrolet Bolt, but under that boxy exterior lies a whole lot of tech that’s both affordable and very advanced. With the launch of the Chevy Bolt EUV, and its available suite of advanced driver assistance systems, GM is putting both advanced driver assistance technology and electric drivetrains within reach of the masses.

As part of GMs much-touted goal to introduce 30 new electric vehicles in the next four years, the company recently launched an updated Bolt, as well as the all-new Bolt EUV, or Electric Utility Vehicle. I had two separate opportunities to test prototypes of the Bolt EUV with GM’s advanced Super Cruise system.

While the Bolt and Bolt EUV share similar DNA, they are two different vehicles. The EUV is the longer and larger of the two, with more bells and whistles, like Super Cruise: An advanced driver assistance system that allows for hands-free driving on certain highways, available as a $2,200 option. Super Cruise is not available on the 2022 Bolt.

Nuts and bolts

The Bolt EUV is powered by a 288-cell, 65-kWh battery pack that Chevy says makes 200 hp and 266 lb-ft of torque. Chevrolet estimates that the EUV will get 250 miles on a full charge, and when charging on the go, can regain up to 95 miles of range in 30 minutes on a Level 2 charger.

On household power, (specifically 240V) the EUV will take around 7-8 hours to charge up to 100%, which is how Chevy says it expects most consumers will power their crossover. To assist with that, Chevrolet had teamed up with home charging installer Qmerit to offer free charger installation if you buy or lease a new Bolt or EUV. Installation of a home charger can cost as much as $2,000, so it’s a decent incentive.

The Bolt EUV won’t get the upgraded Ultium battery pack and underlying architecture that’s coming on the Hummer EV, Cadillac Lyric and other future GM electric vehicles. Instead, the Bolt EUV is built on the BEV2 architecture, the same one on which the 2021 Bolt is built. As mentioned, it also gets Super Cruise as an optional add-on.

Since Super Cruise’s introduction in 2017, the system has been siloed in Cadillac products, showing up on the 2018 CT6 and finally expanding to the 2021 CT5. The Bolt EUV is the first production vehicle outside of a luxury GM brand to offer the system even as paid upgrade.

The Bolt EUV starts at $33,995, which is $2,500 less than the 2021 Bolt that is sitting on dealer lots today. The 2022 Chevy Bolt ($31,995) is also around $4,500 cheaper than the 2021 Bolt. Chevy’s press department says that the goal is to “make EVs attainable to everyone.” Although this is also likely an effort to bring the new vehicles in line with earlier Bolt models that qualified for the $7,500 federal tax credit. That incentive in the U.S. disappeared after GM sold 200,000 EVs nationwide.

The Launch Edition, which included the optional Super Cruise, a lighted charging port and special badging, carried a sticker price of $43,495. As of this writing, reservations for the Launch Edition are completely full, but you can still reserve an LT or Premier trim in the 2022 Bolt EUV. Super Cruise, however, is only available as a $2,200 option on the Premier trim, which starts at $38,495. Keep in mind, these prices are all before including any state or local tax incentives or rebates for electric vehicles.

In contrast, a Tesla Model Y Long Range model, the most affordable of the bunch since Tesla dropped that vehicle’s base option, starts at $41,990 before incentives. Getting Tesla’s so called Full-Self Driving feature — which is not self-driving and is actually a driver assistance system — will cost you an additional $10,000.

User experience: Super Cruise

Super Cruise, while impressive, tends to err on the side of caution when it comes to implementing the technology. The system allows for drivers to take their hands and feet off the controls on more than 200,000 miles of mapped divided highway all over the country.

“If we can bring congestion and crashes to zero, then developing fully-autonomous driving is worth it,” Jeremy Short, the vehicle chief engineer who is responsible for the engineering, development, validation, testing and manufacturing of the Bolt EUV, said during my second time with the crossover. “The next 10 years are going to get really interesting in the autonomy space. Five years ago, would you have thought we would have what we have now with Super Cruise?”

That being said, Super Cruise isn’t perfect, and GM continues to iterate the product, even on the Bolt EUV. During my first drive in a Bolt EUV prototype from Marina Del Rey to Burbank and back in peak Los Angeles rush hour traffic, Super Cruise seemed a little bit “off.” The system ping-ponged in the wide lanes on the highway. When the vehicle was moving under 30 mph, the system lost track of the lane markings on mapped highways like the extremely busy 405, causing it to drift toward the other lanes and switch off a number of times.

2022 Chevrolet Bolt EUV

2022 Chevrolet Bolt EUV. Image Credits: GM

A few weeks later, on a second prototype drive that followed a 50-mile loop originating in Carson, the system appeared to have gained its sea legs. However, both Short, who was following in another prototype vehicle, and I noted that Super Cruise in the EUV still had problems when traffic slowed below 10 mph. When cars ahead slowed, the EUV would slow appropriately, but then begin to drift across the lane once traffic moved forward, as if it had lost the lane markings. Eventually, the alert to take over would sound and Super Cruise would shut off.

“I did notice some ping-ponging at low speeds,” Short said after our drive. He then joked that it will require some more engineers driving that stretch of road to teach the system to navigate it without bouncing around the lane. He also said that speed and California’s strange concrete roadbeds (they have textured surfaces that can look like lane markings to AI) can affect Super Cruise. “Think of it like tracer fire; the more data you have coming in, the more accurate the car can be.”

Short says that the Super Cruise system is continually learning and updating — even if it’s fully baked on vehicles like the CT5 and CT6. Every time Super Cruise is added to a new vehicle, the sensors, software and processing needs to be updated and tweaked because each car has different weights, potential speeds, dimensions, steering and braking, space for sensors and features. For example, you will be able to get a version of Super Cruise on the 2022 Cadillac Escalade which includes automatic lane changing features. The 2022 Bolt EUV, however, doesn’t get those sensors and therefore can’t automatically change lanes.

“Each vehicle that has Super Cruise implemented has different anatomy so it needs to process and do different things,” Short said. “The Super Cruise on the Bolt EUV was developed at the same time that engineers were developing it on the Escalade. There’s very different steering and braking in each car so the two systems are different.”

Super Cruise qualifies as an advanced Level 2 autonomous vehicle. As the driver, you still have to remain alert, and attentive, but you can remove your hands from the steering wheel and your feet from the pedals on roads where Super Cruise is available. Sensors embedded in the steering wheel track your eyes (even at night or when you’re wearing dark sunglasses) to ensure that you are paying attention to the road ahead and not watching a movie, napping or glancing at your phone. The system doesn’t give you much leeway to take your eyes off the road while using Super Cruise, either. At 65 mph, you can reach over and change the radio station on the 10.2-inch infotainment screen but alarms will sound if you look away for more than just a few seconds.

“If you were on a long drive from Los Angeles to Las Vegas,” Short explained after I asked about it, “you’d essentially be a front passenger. Both you and your passenger would be looking down the road, keeping your eyes up for any potential issues. When I did that trip with a friend and used Super Cruise, I felt the same level of fatigue that he did, which is to say, not much.”

The other bells and whistles

We haven’t had the typical full week to test the 2022 Bolt EUV to fully evaluate. However, there was enough time to evaluate some of the vehicle’s features.

Chevy’s new onboard infotainment and navigation system runs on the company’s Infotainment 3 software. The system’s voice control, which has natural language processing, allowed me to do a quick search to find local charging stations.

The drawback? The system brought up a number of charging stations, but didn’t indicate which ones were available, in service, out of service, or if they were part of the EvGo system, the charging company that GM has partnered with. Driver’s also can’t page through results while using Super Cruise because the driver monitoring system will notice that their eyes aren’t on the road ahead.

In order to find EvGo chargers, owners need to use the myChevrolet App to locate the chargers and then send the directions to the navigation system. While driving, the system does lock out some features, and Short notes that you won’t be able to flip through pages of apps.

It will be interesting to see how this plays out once we get more time in the EUV. That being said, it’s not likely to be as seamless as the Tesla charging experience.

At its core, the 2022 Chevrolet Bolt EUV offers some of the most advanced driver assistance technology on the market in an EV package for an attainable price. After spending two separate four-hour stints in prototype versions of the EUV, it’s clear that this compact SUV has the space, power and high-tech capability that will allow it to go head-to-head with the likes of the Tesla Model Y, Volvo’s XC40 Recharge, Ford’s Mach-E and Volkswagen’s ID.4.

News: Last call for Detroit startups to apply for TechCrunch’s Detroit City Spotlight pitch-off

TechCrunch is hosting a small virtual event on April 15 for startups in Detroit and we’re still looking for a few startups to pitch at the event. The deadline is today, Friday, April 9th. Apply below. Want to attend the free event? Register here. TechCrunch just published a feature on Detroit-darling StockX and this meetup

TechCrunch is hosting a small virtual event on April 15 for startups in Detroit and we’re still looking for a few startups to pitch at the event. The deadline is today, Friday, April 9th. Apply below. Want to attend the free event? Register here.

TechCrunch just published a feature on Detroit-darling StockX and this meetup will feature those involved in producing that content. The EC-1 can be found here.

Everyone is welcome to attend the event, but we’re looking for startups based in Michigan’s southeast region to pitch at this event. TechCrunch has a long history of hosting small pitch-offs and we’re excited to revive this tradition despite the need to do it virtually.

Not in Michigan? No worries. We’re spinning up similar events in other regions too. Spoiler: Pittsburgh is next.

Qualifications

  • Early-stage startups (Series A or earlier)
  • Startups based in the Detroit region will be given priority
  • Pitch decks are highly recommended
  • Apply for the pitch-off here

The event is online and free, but space is limited. Register early. We hope you can make it.

News: Creator economy’s slow burn

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines. Natasha and Danny and  and Grace were all here to chat through the week’s rigamarole of news. Alex took some well-deserved time off, but that meant we got to poke a little fun at him and create a Special Edition segment

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines.

Natasha and Danny and  and Grace were all here to chat through the week’s rigamarole of news. Alex took some well-deserved time off, but that meant we got to poke a little fun at him and create a Special Edition segment to start off the show.

Jokes aside, this week was yet another spree of creator economy, edtech, and new fund announcements, with fresh and unexpected news hailing from Natasha’s home state, New Jersey.

Here’s what we got into:

What a show! We’ll be back with the full trio next week, and until then, stay safe and thank you for listening.

Equity drops every Monday at 7:00 a.m. PST, Wednesday, and Friday at 6:00 AM PST, so subscribe to us on Apple PodcastsOvercastSpotify and all the casts!

WordPress Image Lightbox Plugin