Welcome to Startup Weekly, a different take on this week’s startup news and trends by the senior reporter and co-host of Saham Adalat. Natasha Mascarinas. Subscribe to get this in your inbox Here.
Sometimes, due to the nature of the startup game, we list “new”. Companies want to build for a pain point you’d never dream of disrupting. VCs want to invest in an emerging trend before it becomes a household name. And those getting into tech are told to lean on their seriousness, because you never know who’s going to respond to your cold email. For entrepreneurship to feel exciting and enjoyable—not even, but to feel—new must be one of its loudest features.
After all, you only get to be “it” once.
But one question I’ve been asking myself over the last year, especially as some of the more senior people talk about past recessions and the lessons of periodic learning, is the long-term advantage. It’s pretty obvious: When you’ve done all this entrepreneurial stuff before, you know what mistakes to avoid and you know instinctively which investors to avoid.
But to some extent it is not as easy as a story. There is a difference between being new and inexperienced, just as there is a difference between being experienced and being late. How do you know where you are in that whole timeline — especially when stories are best told in extremes?
This week on Equity, I interviewed Sarah Oh, co-founder of T2, who is building a Twitter competitor after working at Twitter as a human rights consultant. Very quickly, I asked him how it made you feel to make a copy of your former employer. He seemed unharmed, to which I promptly said: All is fair in love and moderation.
But the better answer Oh gave me was about his late-comer advantage, building a company in a world he knows well. Joining the social wave of today’s consumer vs. before anyone thought about personas and retweets, the co-founder thinks they can consider more details.
We know a lot about the trust and safety gaps in the industry, whether it’s the data sets we need, the models that need to be built, or the specific standards that need to be in place for the models, that’s right, a whole list of There is a laundry. “The things I wish I had in my previous roles that weren’t there, we’re now in a place where we can have those conversations.” He said. He added that when some of the first social media platforms were created, there were no “case studies or historical precedent” for many of the controversies that exist today. With some of the ugly stuff – my words, not his – T2 has examples to point to on how to handle tensions around virality, doxxing and more.
It just made me think about the larger understanding that goes along with the agility of a startup. Perhaps it is being both old and new that can be a remarkable balance that helps launch a startup. At this point, we have no idea how old or new Twitter efforts are doing, but we do know that this time has never been more important.
In the rest of this newsletter, we’ll talk about inspiring CEOs, growing startup accelerators, and the rare buzz we hear about a tech company and its public market aspirations. As always, you can follow me twitter Or Instagram
Goodbye, inspiring Chief Officer
Also on Equity this week, the crew talked about how venture capitalists are paying more attention to how the founders of the portfolio are spending their capital – especially when it comes to the hiring process. Becca’s latest release for TC+ – use code EQUITY for 50% off annual membership – addresses why the recruiting slide on the pitch deck will no longer be a throwaway part of the presentation.
Stay tuned for more reviews.
Here’s why this is important: We know that companies are shedding staff to cut costs, but those who are hiring may be taking a more conservative approach in both role types and pay levels. All we have to say is, if you are hiring, there is definitely an opportunity for talent acquisition. But, it won’t be easy All Out-of-work talent to find their next gig, especially as employers look to hire cheaper talent with less ambitious staffing goals.
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Goldilocks moonlight
NextView Ventures has launched its fourth accelerator program, aiming to support about half of the founders with $400,000 in funding and mentoring opportunities. It also provides at least one position to a team filled with former colleagues who were laid off in the last recession.
Here’s why this is important: Accelerator partners are open to supporting founders, even if they have a half-baked idea or just an area they want to tackle. Even in a more disciplined market, there are some companies that still use their own ideas as opposed to full-fledged business ideas. “It’s about half a step ahead of what we usually thought,” Rob Gow, founding partner of NextView Ventures, said of the cohorts.
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Follow up
Finally, Stripe is eyeing the exit. The payments giant has set itself a 12-month deadline to go public, either through a direct listing or following a private market deal, such as a fundraising event and a tender offer, the sources said.
Here’s why this is important: Does that mean I should state the obvious? The public markets have been unpleasant for legacy tech companies, insert adjective boring here. If Stripe starts a trend, we’re in for an exciting year next year. But some are suspicious of the timeline. After all, it’s literally easier said than done.
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etc. etc
Seen on TechCrunch
What we thought would happen with robotics investments definitely did.
New analysis shows that app downloads stagnated in the fourth quarter
Then call them “bots”.
Strava acquires Fatmap, a 3D outdoor mapping platform
LastPass owner GoTo says hackers have stolen customer backups
Seen on TechCrunch+
Current lawsuits against generative AI are just the beginning
VC Perspectives on Deep Tech Fundraising in Q1 2023
As activist investors target Salesforce, what’s next for the CRM giant?
Fired from your crypto job? Here’s what founders look for in new talent
Startups should expect more scrutiny from VCs on their hiring plans
I’ll close with the evergreen reminder that I absolutely love Happy Startups and VC Dinners in San Francisco. Let me know if you throw one! And if you’re still working on your social engine like me, I’m always up for a 1:1 coffee chat or donut lunch.
To the rest of you, thanks for reading as always. 2023 is coming up, isn’t it?
talk soon
N
