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Happy Monday!  

I am heading up to Seattle for the Acquired Arena Show this week!  So excited =) 


Here's 5 great reads for this week:

  • 💰 Valuation multiples are always a hack proxy and very dangerous to use. 10X should be considered AMAZING and an upper limit. Over that's silly.  An entire generation of entrepreneurs & tech investors built their entire perspectives on valuation during the second  half of a 13-year amazing bull market run.  Thread by Bill Gurley.
  • 🐦 If Twitter built on decentralized protocol? Tweets would go on-chain, encrypted. A sender can choose who has access to their tweets. Underlying protocol charges something per message at ~500m tweets/day, $0.01/tweet would replace half of Twitter's revenue. Good thoughts by SBF.
  • 👊 Crypto Volumetric DDoS attacks differ from traditional bandwidth DDoS attacks where attackers attempt to exhaust and clog up the victim’s internet connection bandwidth. Instead, attackers focus on sending as many junk HTTP requests to a victim’s server in order to take up precious server CPU and RAM and prevent legitimate users from using targeted sites. Read Cloudfare update.
  • 🇨🇳  China’s President Xi stated that he will end regulatory storm over Big Tech. With this announcement, Alibaba’s stock rose 15.7% and Tencent gained 11.1 %. China’s regulatory hostility in the last 18 months or so has been one of the biggest investment risks in China’s tech stocks, wiping out trillions of dollars in market value across New York and Hong Kong, while deterring venture funding for Chinese tech start-ups. Update by SCMP.
  • 🏖 CryptoBahamas hosted by FTX was super fun and brought some amazing people together.  One of my highlights was for sure Mike Novogratz’s Moon 🌙 and Rocket 🚀 tattoo.  Definitely legendary. See photo

This week a total of 33 startups raised $1.962B in fundingM&As:

  • $1.190B goes to 16 Enterprise startups
  • $2.2M goes to 1 FinTech startup
  • $70M goes to 1 Blockchain/Crypto startup
  • $13M goes to 1 Real Estate startup
  • $15M goes to 1 Edtech startup
  • $25M goes to 1 Food Delivery startup
  • $1.5M goes to 1 FoodTech startup
  • $12M goes to 1 Travel startup
  • $40.5M goes to 2 Transportation startups
  • $37.5M goes to 1 Healthcare startup
  • $145M goes to 2 BioTech startups
  • $97M goes to 1 Aerospace startup
  • $50M goes to 1 Environmental Tech startup
  • $125M goes to 1 Renewable Energy startup
  • $8.3M goes to 1 Robotics startup
  • $130M goes to 1 Hardware startup
If you love this newsletter, ask your best friends to sign up.

Edith

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  Funding (300 miles radius from Silicon Valley)

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