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Wednesday, and we’re excited to bring you another round of our esteemed Daily Crunch newsletter. There’s a wide variety of appetizers, nuggets, and other bite-sized treats, so let’s go! — Christine and hi
The londonbusinessblog.com Top 3
Startups and VC
Wealth management firm Stone Ridge has launched a startup accelerator, Wolf, which will be dedicated to growing Bitcoin-focused applications. The program brings four cohorts a year, each made up of about eight to 12 teams, or about 30 to 50 founders, to New York City from around the world for eight weeks at a time to focus on building the Bitcoin-centric Lightning Network and Taro protocol, Wolf CEO Kelly Brewster told Jacquelyn.
Today, for a series of climate-related talks hosted by the global company SOSV, Connie interviewed famed investor Chris Sacca. In their chat, Sacca dismissed questions about whether efforts like carbon capture could work on a large scale. (“The naysayers actually give me some kind of fuel.”) He also said — of course — that he “will have no doubt that we’re going to have multiple companies worth trillions of dollars coming out of our portfolio.” It turned out to be quite an extensive conversation.
Investors are sitting on mountains of money: where will it be used?
No matter what happens in the public markets, bees are making honey and venture capitalists are raising money, it’s just what they do.
But since the “extreme valuation revaluation” in public markets, VCs are accumulating more and more dry powder, write Irving Investors’ Jeremy Abelson and Jacob Sonnenberg.
Even more frustrating news for founders: Investor fundraising “is on track to close the year at $172 billion,” but capital stakes are way down.
“The dollars are flowing and will continue to flow, but it will be more capital for fewer companies,” they write. As traditional SaaS has become too expensive and secondary saturated, sectors like web3, life sciences and agtech will attract more investors, they predict.
Three more from the TC+ team:
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Big Tech Inc.
Kirsten has recently received news that Argo AI, the autonomous vehicle startup from Ford and VW, will be shut down and some of it will be absorbed by the two companies. This story is still in development, so keep coming back to it for more information, especially a comment from the companies in question.
Who doesn’t love a good faction yelling at them? Duolingo certainly not. Natasha M writes that Duolingo’s Owl will now scream at you any fractions you want as part of its new math app that is now public after spending several months in beta.
And we have five more for you: