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Week in Review: Pet startups will be the death of Silicon Valley

where TechCrunch just pulled off another great Disrupt event — we’ve got a lot of great Europe-focused startup content on the site, so get to scrolling if your interest is piqued.

Just as Pets.com symbolized the ridiculousness that came to frame the tech industry preceding the Dot-com bubble burst at the start of the century, dog-walking startup Wag might symbolize that SoftBank’s earthquaking investment overexposure may extend far beyond a one-time WeWork mistake.

This week, The WSJ reported that SoftBank had tossed in the towel on Wag, selling off its massive “nearly 50% stake” in the startup.

The report states that SoftBank sold its stake back to the startup at a valuation far below its previous $650 million value.

When LA-based Wag closed its $300 million raise from SoftBank at the beginning of 2018, plenty of people wondered why on earth a dog-walking startup needed that kind of money.

Apple is giving new functionality to its parental control tools for iOS.

Apple is giving new functionality to its parental control tools for iOS.

One of the weirder sagas of the week was Away CEO Steph Korey’s stepping down from her role at the D2C luggage company.

She stepped down this week following what was reported to be board pressure to do so; turns out they had been wanting to replace Korey and the negative press was the excuse they needed.

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