Techin' Geek

Halo Infinite is officially reaching its conclusion. With Operation: Infinite launching on November 18, players will receive one final significant update, featuring a 100-tier pass, XP boosts, and new cosmetics. This all happens before the game transitions to long-term maintenance. No additional maps, no more major seasonal releases; Halo Studios is now turning its attention to the future of the franchise. If you’ve been eager to rejoin, now is the time.

Shares of Lenskart bounced back after a slow start, finishing slightly above the offer price on Monday, following the Indian eyewear retailer’s ₹72.8 billion ($821 million) IPO that was quickly sold out but raised questions regarding its valuation.

The stock debuted at ₹395, lower than the IPO price of ₹402, and saw a decline of up to 11% to ₹356.10 during the session, before rebounding to a close at ₹404.55. This closing price gives Lenskart a valuation of approximately ₹702 billion (around $8 billion). The IPO received heavy oversubscription with bids reaching about 28 times the number of shares available, primarily from institutional investors.

Lenskart believes that its vertically integrated model — managing everything from production to retail outlets — can surpass traditional optical chains and online competitors. Nevertheless, the 15-year-old enterprise contends with competition at various price levels from Titan Eye+ to emerging direct-to-consumer brands, raising concerns about its capacity to scale profitably both in India and internationally.

The company reported profitability in fiscal year 2025 (ending in March), with revenue up 23% year-over-year to ₹66.53 billion (approximately $750 million). The net profit was reported at ₹2.97 billion (around $33 million), bolstered by a ₹1.67 billion (around $19 million) accounting gain (not actual cash) related to the Owndays acquisition. Excluding this exceptional item, the core profit was reported at ₹1.30 billion, roughly $15 million.

Lenskart aimed for a valuation of ₹700 billion — about $7.9 billion — at the top of the IPO pricing range, placing it among India’s most highly valued new-age consumer brands, alongside companies like Honasa and BlueStone. This valuation signifies an increase of more than 60% from the approximately $5 billion at which Lenskart shares were traded in a secondary offering last June involving late-stage investors Fidelity and Temasek. Fidelity later raised Lenskart’s valuation by 12% to $5.6 billion in November of the previous year.

The proposed valuation suggested a multiple of around 230 times Lenskart’s core net profit and roughly 10 times revenues, igniting debates among retail investors and on social media platforms. DSP Asset Managers, which invested in the company prior to the listing, defended the valuation despite labeling it “expensive,” asserting in a response to criticism that the business remains “strong and scalable.”

Chief Executive Peyush Bansal, who has gained broader public exposure as a judge on Shark Tank India, stated that the offering was “fairly priced,” referencing positive feedback from institutional investors.

“We didn’t establish Lenskart to hit a valuation,” he remarked during the IPO event in Mumbai. “Our goal was to connect with people, extending from Delhi to the tiniest towns in India.”

Lenskart intends to utilize the funds from the IPO to facilitate growth, which includes launching new retail outlets and enhancing its supply chain and retail framework. The company also plans to invest in technology and marketing, with a portion of the funds potentially allocated for acquisitions and other general corporate uses.

Current investors such as SoftBank, Schroders Capital, Premji Invest, Kedaara Capital, and Alpha Wave Ventures divested shares during the IPO. Co-founders Peyush and Nehal Bansal, Amit Chaudhary, and Sumeet Kapahi also sold a segment of their stakes.

Lenskart’s public listing occurs at a time when numerous Indian startups are transitioning to public markets due to tightening late-stage venture funding and a growing domestic investor interest. Fintech companies Groww and Pine Labs, edtech platform PhysicsWallah, SaaS provider Capillary Technologies, and consumer brand BoAt are among the startups gearing up for their IPOs in India.

Blue Origin, the aerospace company founded by Jeff Bezos, postponed its second launch of the New Glenn mega-rocket that was scheduled for Sunday afternoon due to weather issues, several minor technical difficulties with the launch pad, and at least one cruise ship that entered the flight path.

Late on Sunday, the company announced it would make another attempt to launch New Glenn’s second mission on Wednesday, November 12. The Federal Aviation Administration (FAA) issued restrictions on space launches the previous week because of the government shutdown, and Blue Origin indicated in a post on X on Sunday that it collaborated with the FAA to facilitate the second attempt. The launch window opens at 2:50 p.m. ET and continues until 4:17 p.m. ET.

This mission holds significant importance for Blue Origin for several reasons.

Firstly, the company is working to demonstrate the complete reusability of the rocket. New Glenn successfully achieved orbit during its inaugural launch in January, but the booster was destroyed before it could be recovered on a drone ship in the ocean. Blue Origin aims to successfully land the booster for the first time during this forthcoming flight.

Additionally, this marks New Glenn’s inaugural commercial mission. The rocket is set to transport NASA’s ESCAPADE spacecraft to space, where it will commence a mission to Mars. New Glenn is also carrying a technology demonstrator for Viasat, affiliated with another NASA initiative. Demonstrating New Glenn’s capability to safely deliver payloads to space — and to do so cost-effectively, largely due to the rocket’s reusability — is vital if Blue Origin intends to compete with Elon Musk’s SpaceX.

Initially, Blue Origin aimed to launch the second attempt earlier this year, but it has experienced multiple delays. The launch window on Sunday in Cape Canaveral, Florida initially opened at 2:45 p.m. ET, with about 90 minutes allocated for the launch. Concerns over weather and technical issues with the launch pad caused several delays to that launch time.

As the timing became critical just minutes before the launch attempt, a cruise ship entered the flight path, as reported by the broadcast. Although the ship was expected to clear the area before the launch window concluded at 4:15 p.m. ET, the weather remained a concern, prompting the company to abort the launch attempt.

This week, Slow Ventures conducted a three-hour “Etiquette Finishing School,” discussing subjects such as the ideal handshake, public speaking skills, and professional behavior. The event featured a fashion showcase where models displayed various outfits suitable for diverse occasions, concluding with a lesson on caviar and wine.

According to the San Francisco Standard, several hundred founders applied for the complimentary program, which took place at the Four Seasons in SF’s financial area, with 50 founders selected. The majority of participants were male.

The concept reportedly originated as a joke, with Slow Ventures gauging interest at Y Combinator’s Demo Day. Although YC CEO Garry Tan allegedly advised founders to skip the event, he shared on X that he holds “no animosity towards Slow Ventures,” adding, “You don’t need finishing school. You need to create something remarkable, satisfy your users, and focus on craftsmanship.”

An unnamed founder mentioned to The Standard that they participated to learn how to be “less feral.”

“The tech world is no longer whimsical and charming,” Slow Ventures general partner Sam Lessin reportedly informed the attendees. “It’s affecting employment and altering environments. There’s a sense of threat, which necessitates being approachable and respectful, rather than deliberately disrespectful.”

YouTube TV users dissatisfied with over a week of missing ESPN, ABC, and other Disney channels will receive a $20 credit applicable to their upcoming billing statement.

Variety was the first to disclose the credit, and a representative from YouTube validated this information to TechCrunch. According to the company, these credits are being distributed now, with users getting emailed guidelines on how to redeem it.

Disney’s channels were removed from the streaming TV service on October 31. YouTube states that should a deal be reached, those channels will be reinstated within a few hours. Like previous conflicts, this situation appears to center around pricing, with YouTube objecting to what it claims is Disney’s price increase, while Disney contends that YouTube is “refusing to pay fair rates for our channels.”

The last disagreement between the subscription TV service and Disney occurred in 2022, prompting YouTube TV to provide customers with a $15 credit after Disney content was taken down for a single day.

Following the approval of a new compensation plan by Tesla shareholders, potentially valued at $1 trillion, CEO Elon Musk seems to be enjoying a typical weekend on his social media site X.

In a post made early Saturday morning at the coincidental time of 4:20am EST, Musk shared a video produced by Grok Imagine, the latest photo and video creation tool developed by his company xAI. 

According to Musk, the video was crafted from his input, “She smiles and says, ‘I will always love you.’” The video indeed depicts an animated woman on a wet street, uttering those words in a clearly synthetic voice.

Shortly after, twenty-four minutes later, Musk published another Grok-generated video featuring actress Sydney Sweeney, who, in a voice markedly uncharacteristic of her, states, “You are so cringe.”

While it has become increasingly prevalent to observe odd behavior towards AI-generated women and the formation of romantic attachments to chatbots, many users on X seized upon the “always love you” video in particular, with one labeling it as “the most divorced post of all time” and another dubbing it “the saddest post in the history of this website.”

Surprisingly, neither of those critiques was the harshest comment aimed at Musk posted on X this weekend. Instead, the top criticism came from 87-year-old, award-winning author Joyce Carol Oates.

In response to a convoluted series of posts where one user praised Musk’s rebuttal to a Texas state senator who criticized his compensation, Oates remarked on how “so curious” it is that Musk “never shares anything that suggests he enjoys or is aware of what virtually everyone values,” be it posts about friends, family, nature, pets, films, music, or literature.

“In fact, he appears completely uneducated, uncultured,” she continued. “The least wealthy individuals on Twitter may experience more beauty & meaning in life than the ‘richest person in the world.’”

To which Musk simply replied, “Oates is a liar and enjoys being cruel. Not a good human.”

While Apple’s iPhone already enables texting, dialing emergency services, and reaching roadside assistance through satellite connectivity, the company has numerous additional satellite-driven features in development, according to Bloomberg’s Mark Gurman.

Reportedly in the pipeline are features such as an API that permits app developers to integrate satellite connections into their apps, an iteration of Apple Maps that lets users navigate without cellular or WiFi service, the ability to attach images in messaging, and enhanced support for “natural usage,” which allows users to connect to a satellite even if their device isn’t oriented directly at the sky.

These features could significantly enhance the functionality of iPhones for users situated beyond the reach of conventional cellular networks. Another prospective enhancement, initially reported by The Information, may advance 5G networks by enabling them to link with satellites for greater coverage.

According to Gurman, the fundamental features would be complimentary, with users charged by carriers for more sophisticated support. Moreover, Apple’s satellite associate Globalstar is said to need to upgrade its infrastructure to facilitate these enhancements, for which Apple is purportedly providing financial assistance.

Great to see you again at TechCrunch Mobility, your central source for everything related to the “future of transportation.” To receive this directly in your inbox, register here for free — just click TechCrunch Mobility!

Have you heard? Elon Musk secured his $1 trillion compensation deal. Naturally, you have, because the buzz surrounding that eagerly awaited vote is everywhere, including here at TechCrunch. But what does it actually signify? 

Indeed, this matter revolves around financial reward, but it also emphasizes authority and influence. You may remember that Musk has often emphasized the importance of holding control over Tesla and presented various imaginative scenarios, one of which involved a robotic army, to advocate for it.

The stakes were substantial; without that control, he indicated he might walk away. Shareholders simply couldn’t bear the thought of Tesla without Musk at the helm.

All that wealth, influence, and authority increases for Musk as Tesla achieves targets oriented around operations, adjusted earnings, and market capitalization. Each tranche met will grant Musk 35.3 million shares. For example, the initial tranche target is a market cap of $2 trillion. Currently, Tesla’s market cap is around $1.5 trillion. 

Tesla exhibits a fascinating dynamic where its share price frequently bears little relation to actual fundamentals. It’s quite common for Tesla’s stock price to surge due to remarks Musk makes on an earnings call, even if the quarterly results aren’t particularly stellar. This must be incredibly frustrating for competing automakers. 

That’s why I’m more intrigued by some of the product and adjusted earnings targets associated with this compensation package. These targets encompass delivering 20 million Tesla vehicles, achieving 10 million active Full Self-Driving subscriptions, delivering 1 million robots, and having 1 million robotaxis operating commercially within a decade. Scroll to the bottom to take part in a survey about these objectives. 

Musk used the shareholder assembly for more than just a moment of celebration, although that sentiment was certainly felt. He made numerous forecasts and commitments, stating that the Cybercab’s production will commence in April and that the company might require a “massive” semiconductor fabrication facility. He also once again delayed the Roadster 2, which was initially introduced as a prototype in 2017. A production version is now slated for revelation on April 1, 2026 — yes, April Fools’ Day. 

Reminder: That Master Plan 4, which formed the core of Tesla’s appeal to shareholders for endorsing the $1 trillion compensation deal, is still lacking in details.

A little bird

We’re developing a few intriguing stories, but nothing is quite ready at the moment. In the meantime, remember our inbox is always open for tips.

Have a tip to share? Email Kirsten Korosec at [email protected] or reach me on Signal at kkorosec.07, or email Sean O’Kane at [email protected].

Deals!

Beta Technologies, the electric aviation startup, advanced with its IPO despite the government shutdown thanks to some leniency from the SEC. The company made its entrance on the New York Stock Exchange with a considerable raise of $1 billion.

Although the stock price didn’t soar on its first trading day, it also didn’t drop — which is a shift from the trend seen in several recent IPOs. 

The Vermont-based firm set the share price in its IPO at $34, above its anticipated range of $27 to $33. Beta Technologies managed to sell 29.9 million shares, raising $1 billion at a valuation of $7.4 billion. It ended the day at $36 and maintained that level the next day. Since then, shares have dipped to about $31. 

However, this is a long-term endeavor, and Beta Technologies is still in the process of commercializing its aviation products. It will be interesting to observe where the company stands — and its share price — one year down the line.

Other deals that caught my interest this week …

Archer Aviation managed to secure $650 million through a stock offering for 81.25 million shares, with proceeds aimed at its $126 million acquisition of Hawthorne Airport, a key location in Los Angeles. The market response was not favorable, with shares dropping over 12.6% on Friday. 

Interesting tidbit: This airport, besides having an excellent restaurant, is located in Elon Musk’s vicinity. The Tesla Design Studio and SpaceX are adjacent, and the facility has hosted various product launch events, including for the Tesla Semi. 

Evotrex, a startup innovating a hybrid RV travel trailer with an integrated gas engine, has emerged from stealth mode with $16 million in seed funding from Anker along with early-stage venture firms in China, including Unity Ventures, Kylinhall Partners, and Vision Plus Capital.

Indian motorcycle giant TVS Motor sold its complete stake in ride-hailing business Rapido for ₹2.88 billion (approximately $32 million) to Accel and the investment unit of Prosus, MIH Investments. 

Lucid Motors’ primary owner — Saudi Arabia’s sovereign wealth fund — increased the limit of a loan pact from $750 million to approximately $2 billion, ensuring the company has liquidity until 2027.

Rivian disclosed its earnings for the third quarter this week, revealing a puzzling development within its financial results. The company has spun off yet another entity — this time focusing on industrial AI and robotics, called Mind Robotics. Earlier this year, Rivian separated a micromobility venture named Also. Mind Robotics has already secured $115 million in seed funding, largely led by the VC firm Eclipse. Jiten Behl, a partner at Eclipse who previously worked at Rivian, is a significant supporter of Also.

Notable reads and other tidbits

Bryant Walker Smith, an associate professor at the School of Law and (by courtesy) the School of Engineering at the University of South Carolina, has been a trusted expert and advisor for governments and safety organizations concerning automated driving for many years — specifically on public communication matters. He released an important paper last month, and I feel compelled to share it here. It is titled “Self-Driving” Means Self-Driving.

Ford officials are contemplating the discontinuation of the F-150 Lightning truck. 

Lucid is undergoing an executive restructuring as it seeks a permanent CEO. The electric vehicle manufacturer’s chief engineer Eric Bach is departing after over ten years, and Jeri Ford, previously the VP of Quality, is retiring. TechCrunch has also learned that James Hawkins, the former VP of Engineering, is no longer with the company. To counter, Senior Vice President of Powertrain, Emad Dlala, is being promoted to oversee all of “Engineering and Digital.”

Luminar continues to face challenges. The firm recently received an eviction notice for one of its offices in Orlando, Florida.

Lyft reported a successful third quarter, achieving a profit of $46.1 million. This is promising news following a reported loss of $12.4 million in the same quarter a year ago. Lyft also experienced a rise in ridership (15% year-over-year to 248.8 million) and an 11% revenue boost to $1.69 billion compared to the same period last year. 

Rivian released its earnings for the third quarter, and while the company remains in the red, its revenue figures pleased Wall Street. Revenue rose 78% year-over-year to $1.56 billion — that’s not insignificant. However, it also reported a substantial Q3 loss of $1.17 billion, a 6% increase compared to the $1.1 billion loss reported a year prior.

Waymo intends to roll out a robotaxi service in Detroit, Las Vegas, and San Diego. If it seems like Waymo is accelerating rapidly, you’re correct. Let’s not forget, last month at TechCrunch Disrupt, Waymo co-CEO Tekedra Mawakana stated that by the close of 2026, “you should expect us to be providing 1 million trips per week.” Waymo hasn’t disclosed that weekly figure since April, when it exceeded 250,000 trips per week.

One more thing …

It’s time for a poll! Sign up for the newsletter to take part. Have a question you want us to include? Email me at [email protected].