Daily Crunch: Falling short of analysts’ estimates, Warner Bros. Discovery posts $2.1B net loss for Q4 2022

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Folks, we’ve got some really sad news for you. The weekend is here, which means that you have to stop working for a couple days. We know, it’s a tragedy. But don’t worry, Monday is only two short weekend days away, and then you can get back to the grindstone.

Black History Month continues! Originally published in 1975, For Colored Girls Who Have Considered Suicide/When the Rainbow Is Enuf is a magnificent, passionate, and fearless story of what it meant to be a woman of color in the 20th century.  Well worth a read — or seek it out onstage!

Much love and hugs and such, Christine and Haje

​​The TechCrunch Top 3

  • Money, money, money…must be funny: Warner Bros. Discovery revealed that it lost another $2.1 billion in the fourth quarter. This is despite the success of shows like “The Last of Us” on HBO and games like “Hogwarts Legacy.” Lauren explains more.
  • Fashion layoffs: Secondhand apparel marketplace Poshmark is now laying off employees just two months after being acquired by Naver, Kate reports.
  • Another brick in the wall: Ron explains why a possible U.S. Department of Justice lawsuit over competition could derail the pending $20 billion Adobe-Figma deal.

Startups and VC

The truth of the matter is that Mobile World Congress (MWC) was never a consumer tech show, per se, but the participation of various smartphone makers transformed it into a handy launching pad. Brian explores in What we expect from MWC 2021.

In the face of conscripted co-founders and blacked-out bunkers, Ukraine’s tech industry marches on. Mike explores how, a year on from Russia’s invasion, Ukrainian startups show astounding resilience.

And we have five more for you:

5 questions emerging managers should ask before selecting LPs

Two Wooden People Figures Communicating

Image Credits: Constantin Johnny (opens in a new window) / Getty Images

Before an emerging manager can start backing startups, they’ll first need to earn the trust of limited partners who are willing to bet on their investment thesis.

“Each step up the decision-making ladder increases the risk of dismissal, lost information or miscommunication, which can be mitigated if you can get in front of the decision-makers early on,” says Linda Greub, co-founder and managing partner of Avestria Ventures.

Drawing from her own experience, Greub shares five questions emerging managers can use “to find the investors most likely to believe in you.”

Three more from the TC+ team:

TechCrunch+ is our membership program that helps founders and startup teams get ahead of the pack. You can sign up here. Use code “DC” for a 15% discount on an annual subscription!

Big Tech Inc.

A new hacker group going by the name CH01 defaced Russian websites to have them display a video of the Kremlin on fire. Lorenzo has more.

Google One subscribers can rejoice over this news that they now have access to Google Photos’ new AI-powered “Magic Eraser” that will remove unwanted content from images, Sarah reports.

We have a treat for you: six stories instead of five:

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