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I am so happy to be back home in San Francisco! The weather is perfect this weekend ☀️☀️☀️

Here's 5 great reads for this week:

  • 🐦 Twitter cap table is fascinating to read. Equity investors alongside Elon including Prince al-Waleed bin Talal of Saudi Arabia ($1.9B), Larry Ellison ($1B), Sequoia ($800M), VyCapital ($700m), Binance ($500m), a16z ($400m), etc.  At $44B, what do you think the upside is from here? Can Twitter grow to at least Facebook level? Read more
  • 🇸🇬 Singapore’s Central Bank (Monetary Authority of Singapore) has a very clear approach and direction to the cryptocurrency ecosystem and the criteria for crypto service licenses. He also discussed MAS’ stance on central bank digital currencies and DeFi.  Great interview by the FT.
  • 🏨 2 years ago, Airbnb’s business dropped 80% and their IPO was put on hold. When travel stopped, Airbnb paused all performance marketing and shifted focus to PR (super interesting). Great thread on how Brian Chesky turned things around and now achieved $1.5B revenue (70% Y/Y), $1.2B free cash flow  and 20% overall marketing spend. Great 🧵 by Brian Chesky.
  • 🌐 Last week, some Solana validators recorded in excess of 100gbps in network ingress and 4 million packets per second (i.e. transactions being submitted). That's 100,000 mbps, most home internet connections are less than 100mbps…The network was halted.  Fortunately, there is a published procedure to restart a stalled cluster, validators quickly converged on Discord to begin this process. Good thread on what happened
  • 🐂 We invested in Bundlr Network - THE only decentralized storage scaling platform for Arweave empowering marketplaces to permanently store NFT data on-chain.  We are bullish on the future of decentralized storage! 

This week a total of 20 startups raised $779.3M in fundingM&A:

  • $287M goes to 7 Enterprise startups
  • $130.3M goes to 2 FinTech startups
  • $42M goes to 1 Crypto startups
  • $10M goes to 1 eCommerce startup
  • $36M goes to 1 FoodTech startup
  • $39M goes to 1 BioTech startup
  • $170M goes to 4 Healthcare startups
  • $55M goes to 1 Environmental Tech startup
  • $10M goes to 1 Robotics startup
If you love this newsletter, ask your best friends to sign up.

Edith

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