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Time really flies by... I cannot believe it is already June 2022. 

Here's 5 great reads for this week:

  • 📖  Sequoia Capital on Downturn - I really like this presentation on how all founders should get ready for this downturn. I particularly like how Roelof Botha started with the story of PayPal. It was March 2000 when they closed $100M at $500M. A month later, the Nasdaq experienced a sharp decline. With only 7 months of runway left, they ran cost exercises in OPEX,  turned product market fit into a business and eventually reached nearly $250M revenue in two years later. There is a lot for us to learn and ponder. 
  • 💲More on Terra / UST - Jump Crypto wrote a long report on The Depegging of UST explains "who sold first" instead of acknowledging the fairly straightforward Ponzi nature of Luna/UST which they were one of the biggest promoters.  Stablecoin can only be truly "stable" if and only if it can withstand this type of selling and not collapse when there is a George Soros-like attack, who incidentally, made more than $1 billion when he bet against the British sterling in 1992.  Again, what happened to Terra Luna does not represent the entire Web3 and Crypto ecosystem, but we need to continue to support projects with truly sound economic principles. founder ethic, security measures and technical framework.
  • 🧠 “Brain drain” of Hong Kong - Hong Kong lost 93,000 residents in 2020, 23,000 in 2021 and 157,000 in just Q1 2022. Residents of Hong Kong are leaving the city in droves not because they want to, but because Covid restrictions and what they see as an erosion of democratic norms are pushing them to leave. Many of them are moving to Singapore, Canada, the United Kingdom, Dubai, Japan, South Korea and Thailand. Read more
  • 🎧 Complete History & Strategy of TSMC - This is definitely one of my favorite Acquired podcasts of all time. Morris Chang founded TSMC at age 56, retired at 74, then came back at age 78 so he could cut the deal to make all of Apple’s chips. His journey from Shanghai to Harvard/MIT, then from Texas Instruments to Taiwan are all fascinating stories. TSMC is probably one of the best government / corporate investments of all time. 
  • 👉 Join me at the #BloombergTech Summit on June 8, 2022 (Wednesday). I will be chatting with Stacy-Marie Ishmael (Bloomberg News), Brian Shroder (Binance) and Edwin Aoki (PayPal) on all things Crypto and What's next! Join us

This week a total of 18 startups raised $552.9M in fundingM&As:

  • $311.5M goes to 6 Enterprise startups
  • $10M goes to 1 FinTech startup
  • $27M goes to 1 HRTech startup
  • $15.5M goes to 1 Mobile startup
  • $4.3M goes to 1 EdTech startup
  • $45M goes to 1 AgTech startup
  • $4.4M goes to 1 Construction startup
  • $100.9M goes to 4 Healthcare startups
  • $28M goes to 1 BioTech startup
  • $6.3M goes to 1 Other 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)

Enterprise FinTech HRTech Mobile EdTech AgTech Construction Healthcare BioTech Other IPO & M&A (300 miles radius from Silicon Valley)  
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