Friday! Today, we are thrilled to share the Equity Podcast Team’s 2023 predictions on the future of construction, cryptocurrency, and AI.
Meanwhile, good luck Alex (who mostly deals with TechCrunch+ these days, but used to write Daily Crunch and still occasionally complains about our terrible jokes) while embracing parenthood and taking a few months off to do whatever new dads do.
Oh, and are you still working on your Christmas shopping list? Here’s a great gift idea for you and other young and aspiring founders. Get a TC 2023 Early Stage Founder’s Pass for just $75 by registering before December 31, 11:59 PM PST at this link.
We are finally waiting for the end of another week. It’s time for some well-deserved rest and relaxation here at Crunch Towers. See you next week! 🇧🇷 Kristina j hahaha
TechCrunch Top 3
What a complicated web Elon Musk weaves: There’s too much Twitter news to share today, so we’ve rounded it all up. Twitter’s main treasure came Pablo, who wrote that Twitter removed its Spaces group audio feature after Musk spoke to banned journalists. More information about the ban can be found here. tailor🇧🇷 In the meantime, it was just one of many steps the Idiot Boss took, including banning the Mastodon account. tailor To write
Meanwhile in Europe: Natasha L. reports that European Union lawmakers sent Elon Musk, via Twitter of course, a warning about sanctions that could be imposed after Twitter suspended journalists’ accounts without warning.
The second time may be the charm: The movie “Black Adam,” starring Dwayne “The Rock” Johnson, didn’t do well at the box office, but HBO Max is now streaming it in hopes of a different outcome. Lauren reports. Startups and VCs
Despite the decline in investment in startups in 2022, venture capital funds of all sizes are still being attracted. However, many of them are not managed by Solo General Partners (GPs), and while this trend is growing, even fewer are managed by women or non-venture capitalists. ann writes This makes Nichole Wischoff an exception: Her solo venture capital firm, Wischoff Ventures, closed a second fund of $20 million, a significant increase from her first fund of $5 million. The goal is to invest in 25-30 US startups in the pre-seed or seed stage.
Five more to go into the weekend… And if you need a creative boost, this stop-motion animated music video will probably do the trick.
The VC rules are changing: here’s what founders should keep in mind in the new era
Photo credit: MirageC (opens in a new window) / Fake images
“Grow at all costs” is a cheap money fairytale that has helped VCs set expectations for founders and each other for years.
Likewise, everyone needs 18-24 months of runway is a good motto, but if it takes three times as long to raise a lap as it used to, that may not be good advice anymore.
Born in an era of plenty, these ‘VCismos’ have found their way into boardrooms and investors everywhere,” writes Rebecca Mitchem, partner at Neotribes Ventures, at TC+.
In a 2012 data-driven paper that looks at after-money valuations, deal size and dilution, Mitchem says we are now entering an era of “growth at a reasonable cost.”
Founders can further dilute their ownership by continuing to raise grand rounds, or they can choose to grow more slowly, giving venture capitalists greater stakes over time.
“Although it may seem counterintuitive given the recent market environment, the value of capital for all parties – investors, founders and employees – is higher in this scenario under the more conservative growth scenario,” says Mitchem.
Three more from the TC+ team:
TechCrunch+ is our membership program that helps startup founders and teams stay ahead of the competition. You can register here. Use the code “DC” to get 15% off an annual subscription!
big tech inc.
Meta has been closed a lot lately. Facebook’s parent company recently disabled the live shopping feature in October and now aisha writes that it will close its super app in February. If you’re not familiar, she writes that it was an app originally developed to “provide a virtual meet-and-greet experience similar to what you get at a real-world event like VidCon or Comic-Con.” We assume it didn’t go as well as they’d like…
Source: La Neta Neta
Jason Jack is an experienced technology journalist and author at The Nation View. With a background in computer science and engineering, he has a deep understanding of the latest technology trends and developments. He writes about a wide range of technology topics, including artificial intelligence, machine learning, software development, and cybersecurity.
