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Real estate tech companies are facing significant challenges due to high mortgage rates, resulting in layoffs and closures, as highlighted in The Interchange's latest fintech news report.

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Gaming

Indie game studios warn Unity fees could cause delays

Popular indie game developers, including creators of hits like Among Us, Cuphead, and Cult of the Lamb, are up in arms over Unity engine's new pricing strategy, which could charge developers a fee for each game installation. The move has sparked outrage across the gaming industry, with developers likening it to Adobe charging per image view for Photoshop. Some developers have even threatened to abandon Unity and expressed concerns about being charged for pirate copies and the impact on platforms like Microsoft Game Pass. The controversy has escalated to the point where Unity had to close two of its offices due to death threats, and it's offering a fee waiver if developers join its advertising program. The future of mega-hits like Pokemon Go and Genshin Impact, which also use Unity, remains uncertain amidst this turmoil. 🔗Dig deeper

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Meet the YC Summer 2023 Batch

Y Combinator's Summer 2023 Demo Day marks a significant milestone in its storied history, with Garry Tan, YC's president, reminiscing about his first Demo Day back in 2008. This year's batch, the 37th in YC's legacy, stands out as one of the strongest ever, selected from a staggering 24,000 applications. Notably, 75% of the presenting startups had zero revenue at the start, and 81% had never secured external funding. The AI sector took center stage, reflecting the immense opportunities it presents. YC now boasts over 10,000 founders across 4,500 startups, with several valued at over $1 billion, making it a unique and thriving community. 🔗Dig deeper

Startup Spotlight

Startup that lets you instantly talk in foreign language targets a Nasdaq IPO at $1 billion value

Tokyo-based startup Pocketalk Corp., known for its handheld translation devices, aims to achieve a billion-dollar valuation in two years through a Nasdaq IPO, having already sold over 1.1 million devices since its 2017 inception. To reach this goal, Pocketalk plans to expand globally in partnership with SoftBank Group Corp.'s mobile unit, differentiating itself by offering nuanced translations through a selection of top translation engines. While it faces competition from improving free translation apps, Pocketalk focuses on North American and Asian expansion to cater to the growing global presence of Japanese businesses. 🔗Dig deeper

💬 Tool of the Week

🔗Masterworks: While billionaires typically secure rare and valuable investments, Masterworks, a platform, is democratizing art investment, enabling everyday investors to profit from fractionalized blue-chip artworks, with annualized net returns reaching up to 35%, and Tech Creator readers can join without a waitlist via an exclusive link at masterworks.com/cd.

48% of top 50 GenAI web products in a16z’s list are completely bootstrapped

In a recent report from a16z, the top 50 GenAI web products were ranked by monthly visits, revealing some fascinating insights. Notably, a staggering 80% of these products didn't even exist a year ago, showcasing the rapid evolution of GenAI. What's even more intriguing is that 48% of these innovative products are completely self-funded, defying the conventional reliance on external capital, and only a mere 5% belong to tech giants like Google. The success stories here highlight the organic growth and varied approaches within this dynamic sector, with chatbots leading the way, while new opportunities continue to beckon in this ever-evolving GenAI landscape. 🔗Dig deeper

In other tech news

TikTok fined $379M in EU for failing to keep kids’ data safe.
Prosus, Naspers CEO Bob van Dijk abruptly steps down.
Superorder raises $10M to help restaurants maintain their online presence.
TikTok will fund Black Friday deals to take on Amazon.
X’s crowdsourced fact-checking system will now let contributors consider opposing viewpoints.

Articles & links we dig

🔗Link: 4 mistakes to avoid to build a better 1-person business.
🔗Link: Apple continues to use our own mortality as marketing.
🔗Link: Tim Cook talks advertising on X, Vision Pro, and more in a new interview.
🔗Link: How angel investors lose their money, in 7 easy steps.
🔗Link: Pitch deck teardown: Learn.xyz’s $3M seed deck.
🔗Link: People are streaming pirated movies on TikTok, one short clip at a time.

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