Fisker collapsed under the weight of its founder’s promises

Welcome back to TechCrunch’s Week in Review — TechCrunch’s newsletter recapping the week’s biggest news. Want it in your inbox every Saturday? Sign up here. Over the past eight years, famed vehicle designer Henrik Fisker suggested his EV startup would deliver on a lot of promises, but none came true. As Fisker looks for an […]
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WTF is AI?

What is AI? We’ve put together this non-technical guide to give anyone a fighting chance to understand how and why today’s AI works.
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President Biden vetoes crypto custody bill

President Joe Biden has vetoed H.J.Res. 109, a congressional resolution that would have overturned the Securities and Exchange Commission’s current approach to banks and crypto. Specifically, the resolution targeted the SEC’s Staff Accounting Bulletin 121, which presents guidance around how banks can handle customers’ crypto assets — in effect, they must treat those assets as […]
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Industries may be ready for humanoid robots, but are the robots ready for them?

How large a role humanoids will play in that ecosystem is, perhaps, the biggest question on everyone’s mind at the moment.
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Majority of UK MPs have had their data leaked to the dark web

More than two-thirds of British politicians have had their data leaked to the dark web, according to the latest data.
68% of British politicians currently sitting in the House of Commons. That includes some who are supposed to be in charge of the UK’s cybersecurity.
The new data stems from a joint investigation between digital risk firm Constella Intelligence and privacy service Proton. Out of 650 MPs, 443 have had some form of personal data using details exposed on the dark web, mostly gathered from third-party services MPs have signed up to via their parliamentary email addresses.
This compares to just 44% of EU MEPs. While that’s still a worrying percentage at just under half, French deputies and senators had the best security, with only 18% of searched emails appearing in hacker exchanges.
“The fact that these emails, which are publicly available on government websites, are on the dark web isn’t a security failure by itself,” wrote Richie Koch, editor for Proton. “Nor is it evidence of a hack of the British, European, or French parliaments.
“Instead, it shows that politicians used their official email addresses to set up accounts on third-party websites (which were later hacked or suffered a breach), putting themselves and the information they’re entrusted to keep safe needlessly at risk.”
What personal data from MPs were hacked?
216 plain text passwords associated with MPs’ accounts were exposed on the dark web, breaking down to including up to 10 passwords exposed for a single MP. However, parliamentary emails were the biggest piece of data involved, being exposed 2,110 times. Those most frequently targeted faced up to 30 breaches.
While emails may not seem like a major concern, the combination of those with passwords can unlock a lot more doors to users’ online accounts. Cybercriminals will often use the tactic of ‘credential stuffing’ to enter thousands of stolen passwords and emails into different platforms, in the hope of gaining access to different accounts.
What’s more, some social media profiles were also affected, including 16 breaches of Instagram profiles, 117 of LinkedIn, 21 of X, and 21 of Facebook. This risk to personal information on social media profiles.is especially alarming.
This isn’t the first time that the UK government has suffered a data breach, with an accusation leveled at China for hacking the British Ministry of Defence.
Featured image: Unsplash
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VCs are selling shares of hot AI companies like Anthropic and xAI to small investors in a wild SPV market

VCs are clamoring to invest in hot AI companies, willing to pay exorbitant share prices for coveted spots on their cap tables. Even so, most aren’t able to get into such deals at all. Yet, small, unknown investors, including family offices and high-net-worth individuals, have found their own way to get shares of the hottest […]
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Deal Dive: How (Re)vive grew 10x last year by helping retailers recycle and sell returned items

The fashion industry has a huge problem: Despite many returned items being unworn or undamaged, a lot, if not the majority, end up in the trash. An estimated 9.5 billion pounds of returns ended up in landfills in 2022 alone, according to data from return logistics software company Optoro. New York-based (Re)vive wants to help […]
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You can no longer use Tumblr’s tipping feature 

Tumblr officially shut down “Tips,” an opt-in feature where creators could receive one-time payments from their followers.  As of today, the tipping icon has automatically disappeared from all posts and blogs with the feature enabled. Creators that use the feature should note that June 15 is the last day they can withdraw money they received […]
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Name for Meta’s more affordable VR headset leaked

The name of Meta’s next – and rumoured to be more affordable – virtual reality Quest headset has seemingly been leaked.
Meta’s upcoming mixed reality headset will apparently be called the Quest 3S. The news comes via a Quest Store listing spotted by UploadVR, Meta lists the Quest 3S as a supported device. Since this device is not yet on the market, it seems likely that this will be the next headset released.

At this time of writing, the Quest 3S is listed alongside the existing headset models in the listing for a number of apps, including the Alo Moves XR app, as spotted by The Verge.

There are a number of other apps included, suggesting that this isn’t a one-off or a glitch, and that the upcoming headset will have widespread functionality.
What is Meta’s Quest 3S?
Following on from the Quest 3, which has drawn criticism for being the most expensive headset yet, the next headset will reportedly be a more affordable alternative. This name appears to underline this rumor, mimicking Apple’s tendency to name its smaller, cheaper versions of the previous name with a simple ‘S’ afterward.
During an internal presentation last year from Mark Rabkin, Meta’s vice president of VR, he mentioned that a cheaper mixed reality headset was coming up on the company’s product roadmap, codenamed Ventura. At the time, Rabkin stated that the goal was to “pack the biggest punch we can at the most attractive price point in the VR consumer market.”
Seeing as the Quest 3 came out in October, we could see a Quest 3S release window as early as this fall, or there could be a longer wait in store. Not many details are yet known about the headset aside from the tight-lipped comments from Rabkin and some unsubstantiated rumors. With the Quest 3 playing a big role in generating $1 billion in quarterly revenue for Apple, it seems unlikely that the company will quit while it’s ahead.
Featured image: Meta
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AI training data has a price tag that only Big Tech can afford

Generative AI improvements are increasingly being made through data curation and collection — not architectural — improvements. Big Tech has an advantage.
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