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Startups & Tech - Issue #206: Race Capital Fund II, Startup People vs Big Company People, Venture Outlook

Issue #206 — View online — Suggest a link
Startups & Tech

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

Gm. Someone leaked the news of our Fund II for Race Capital 👀 
Also a huge congratulations to our portfolio company Opaque Systems, encrypted analytics started by the founder of Databricks, for raising their Series-A
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Written by Chris McCann, General Partner @ Race Capital. More about me.

🗞️ Interesting Reads
  • Elon Musk signed up to acquire Twitter, then tried to back out, then accepted, but is now pulling out again.
  • An employee compromise (via downloading a PDF) led to a $500M hack. Always be careful on what you click on / download.
  • Startup people vs. big company people.
  • More about the chapter 11 bankruptcy process and how it is affecting Voyager, and potentially other CeFi lenders. 
  • Look into the near term venture/startup outlook. TLDR: Valuations will drop, extensions will be more common, investment processes will take longer. Confirm we have been seeing this as well. 
  • Chainalysis report on the Web3 space. TLDR: Stablecoins are an overwhelming percentage of all transactions, illicit transactions are 0.15% of transfers (less than the banking sector), most NFT buyers are in Asia.
  • I shared some thoughts on CNBC about FTX/Sam Bankman-Fried recent acquisitions and moves in the market. 
🔥 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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