Twitter Removes Live Audio Chat After CEO Joins Space With Banned Reporters • Zoo House News
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Fridaaaaay! Today, we particularly enjoyed the Equity podcast team’s 2023 predictions on the future of construction, crypto, and AI.
In the meantime good luck Alex (who tends mostly to Zoo House News+ these days but used to write the Daily Crunch and still occasionally moans at our awful jokes) while embracing parenthood and taking a few months off to do whatever new parents do do.
Oh, and are you still working on your holiday shopping list? Here’s a great gift idea for yourself and other young and future founders. Get a TC Early Stage 2023 Founder’s Pass for just $75 by registering before December 31st at 11:59pm PST via this link.
The Zoo House News Top 3
What a tangled web Elon Musk weaves: There’s a lot of Twitter news to share today, so we’ve grouped it all together. The top Twitter treasure trove came from Paul, who wrote that Twitter retired its Spaces group audio feature after a Spaces where Musk spoke to banned journalists. For more information on the ban, see Taylor. Meanwhile, it was just one of the many moves the Chief Twit took, including banning Mastodon’s account. Taylor writes. Meanwhile over in Europe: Natasha L reports that European Union lawmakers naturally warned Elon Musk via Twitter of sanctions that could be imposed after Twitter banned journalists’ accounts without warning. Second time may be the appeal: The ‘Black Adam’ movie, starring Dwayne ‘The Rock’ Johnson, wasn’t embraced by box office, but HBO Max has now streamed it in hopes of a different outcome. Lauren reports.
Startups and VCs
Despite shrinking investment in startups in 2022, venture capital funds of all sizes are still being raised. However, not many of these are run by Solo General Partners (GPs), and while this trend is growing, even fewer are run by women or non-venture capitalists. ann writes. That makes Nichole Wischoff exceptional: Her solo venture capital firm, Wischoff Ventures, closed a second fund of $20 million, a significant increase from her first $5 million fund. Their goal is to invest in 25 to 30 US startups in the pre-seed or seed stage.
Five more to get you going into the weekend… And if you need a creative boost, this stop-motion animation music video will probably do just the trick.
The rules of the game of VC are changing: Founders should pay attention to this in the new era
“Growth at any cost” is a fairy tale made possible by cheap money that helped venture capitalists set expectations for founders – and each other.
Likewise, everyone needs 18 to 24 months of runway is a nice motto, but when it takes three times as long to run a lap as it used to, it might not be good advice.
“These ‘VCisms,’ born out of an era of abundance, have permeated boardrooms and investor meetings everywhere,” writes Rebecca Mitchem, partner at Neotribes Ventures, in TC+.
In a data-backed article looking at post-money valuations, transaction size, and dilution since 2012, Mitchem says we’re now heading into an era of “growth at a reasonable cost.”
Founders can further dilute their holdings by continuing to raise fat rounds, or they can choose to grow more slowly, giving VCs a bigger stake over time.
“Although it may feel counterintuitive given the recent market environment, the value of equity for all parties – investors, founders and employees – in this scenario is higher in the more conservative growth scenario,” says Mitchem.
Three more from the TC+ team:
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Meta is doing a lot of shutdowns lately. Facebook’s parent company recently shut down its live shopping feature in October and now aisha writes that it will shut down its super app in February. If you’re unfamiliar, 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.” experience”. We suspect it didn’t go down as well as they would have liked…
And we have five more for you: