Reddit revenue growth slows in 2022, IRL shuts down after faking 95% of users

The Information sources: Reddit's revenue grew 38% y/y to ~$670M last year, a substantial slowdown after revenue more than doubled in 2021 - Link

The Information sources: IRL, a social messaging app startup, will shut down after an internal board investigation found that 95% of its 20M supposed MAUs were fake - Link

Aloud, an AI-powered dubbing tool developed inside Google's Area 120 incubator, is now being tested on YouTube by "hundreds" of creators - Link

The Information sources: TikTok has signed US-based logistics deals and is testing its fulfillment services with US sellers; the company is outsourcing warehouse operations rather than in-housing it - Link

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Jason first reflects on the Titan submersible tragedy as he discusses the concept of 'Toxic Wealth' (1:41). Then, he explains why Meta will remove news content from Instagram and Facebook in Canada due to Bill C-18 (14:59). Finally, Elizabeth Yin gives a presentation live from Angel Summit on her five major lessons from 700+ startup investments (22:59). - Link

TikTok is piloting "Trendy Beat," an in-app shopping feature, in the UK; the tool offers popular items from trending videos shipped and sold by ByteDance, signaling a shift towards direct sales and potential competition with Amazon and Shein - Link

AWS committed $100M to a center focused on generative AI, currently the firm is collaborating with companies such as RyanAir and Twilio to build AI products - Link

Joseph James O'Connor, a British hacker involved in the 2020 Twitter hack, was sentenced to five years in prison after pleading guilty in May to four counts of computer hacking, wire fraud, and cyberstalking - Link

Two lawyers from the New York-based firm Levidow, Levidow & Oberman have been fined $5K for citing fictitious legal cases that ChatGPT hallucinated in a personal injury lawsuit - Link

This Week in Startups

E1767: Titan tragedy, Meta removes news in Canada + Elizabeth Yin at Angel Summit

E1766: StoneAlgo’s Devin Jones on “Zillow for diamonds” + Mar Hershenson on the art of picking

E1765: EyeRate CEO Ray Weisberg on scaling from $0 to $10M + Steve Jurvetson on disruptive tech

E1764: Gavin Baker on AI platform shift, upside vs downside, extinction risk, Nvidia outlook & more

E1763: Reddit CEO Steve Huffman on mod revolt, building a legendary community & more

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