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- Earnings: Roblox, Lyft, Twilio, Toast; UMG/Google in talks for AI licensing deal
Earnings: Roblox, Lyft, Twilio, Toast; UMG/Google in talks for AI licensing deal
Roblox Q2 earnings: revenue: $680.8M (+15% y/y), net loss: $282.8M, DAUs: 65.5M (+25% y/y); shares were down 20% after missing on top- and bottom-line - Link
FT sources: UMG and Google are in talks to license artists’ voices and melodies and voices for AI-generated songs; Warner Music has also been in talks with Google for a similar product - Link
Lyft Q2 earnings: revenue: ~$1B (+3% y/y), net loss: $114.3M, active riders: 21.5K (+8.2% y/y), revenue per active rider: $47.51 (-4.8%); shares were up 5%+ after hours then dropped ~9% on Wednesday - Link
Lyft CEO David Risher said the company is trying to do away with surge pricing due to consumer resistance and a higher supply of drivers - Link
A message from Jason Calacanis:
We’ve launched a new incubator for Cloud Kitchen Startups... it’s called LAUNCH Cloud Kitchen (LiCK!)
We are looking for:
Successful tech entrepreneurs interested in the food/ghost kitchen space
Food entrepreneurs who want to expand in the ghost kitchen space
Entrepreneurs or chefs looking for a co-founder
Learn more and apply at https://ck.launch.co.
LinkedIn Marketing. To redeem a $100 LinkedIn ad credit and launch your first campaign, go to LinkedIn.com/nextunicorn.
Sunny Madra joins Jason to demo some new AI tools, including auto-generated articles, social clips, and ChatGPT’s newest feature. (3:50) Then, Jason sees pitches from three recent Founder University graduates and invests $25K in one of their startups! (40:33) - Link
Twilio Q2 earnings: revenue: ~$1B (+10% y/y), FCF: $71.9M, operating loss: -$142M, shares were up 6%+ after hours on raised operating profit outlook for FY2023, and were still up 2%+ on Wednesday - Link
Toast Q2 earnings: $978M (+45% y/y), FCF: $39M, net loss: -$98M, shares were up 17%+ on first positive FCF quarter - Link
A dozen Wall Street firms were fined a total of $549M by the SEC and CFTC for failing to maintain electronic records of communications, including using apps like Signal and WhatsApp - Link
TechCrunch sources: India-based fantasy sports and gaming app, Mobile Premier League, has cut 50% of its staff (350 employees) after India announced a 28% tax on online real-money games - Link
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