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Startups & Tech - Issue #189: Facebook's tough week, Solana Pay, Contributing to Web3

Issue #189 — View online — Suggest a link
Startups & Tech

A curated list of the top stories in technology, startups, and venture capital.

Gm. Two personal updates for this week.
  1. Race Capital is growing up with a new office and new sign.
  2. FormFunction, a new 1/1 NFT marketplace on Solana, launched last week and I released 3 of my photographs there. Very cool to have a collector DAO + individuals collecting my photographs! 
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Written by Chris McCann, General Partner @ Race Capital. More about me.

🗞️ Interesting Reads
  • Facebook had a tough week, both losing users and $240B in market cap value.
  • Jump Trading’s Wormhole bridge was hacked and lost $320M in assets. Luckily Jump stepped in to backstop the whole and other bridges like Allbridge were not affected. 
  • FTX raised their series C round valuing the company at $32B, one of the biggest unicorns in the world. We are proud seed investors of FTX since day one 💪
  • Solana released Solana Pay, a way to pay merchants using SPL assets. I tested it myself at a local coffee shop and the experience was awesome.
  • Not all VCs in web3 are good, not all are bad either. Instead it’s best to understand the incentive structure behind projects issuing tokens. 
  • How to contribute to the web3 ecosystem as a non developer.
🔥 Startup Jobs
Browse more open roles across our portfolio at Race Capital’s Portfolio Job Board
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This Startup Digest Reading List goes out to a wide membership base of founders, technologists, investors, and operators. Feel free to share with others, sign up here: https://startups.startupdigest.com/
Techstars Startup Digest Startups & Tech is curated by:
Chris McCann Chris McCann - General Partner @ Race Capital, former Greylock Partners
chris@startupdigest.com
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