My mother cut to the chase when she was describing my beating to others. In his words, I cover companies like Uber before they become companies like Uber. And honestly? I cannot disagree with the description at all. The best feeling in tech journalism is telling a story about a startup before it becomes a household name. As an early-stage reporter, I honestly place a lot of bets on the ability of a savvy EdTech founder or creative market game. And when I am doing my job right, I point to the unique insights that will make a startup successful or challenging in the future.
On that note, one of my favorite refurbished series on ClearTips is EC-1 (Extra Crunch Subscription Required), a story series that goes through the naughty-gritty of a startup’s story from its original days to its pivots. I’ve spent the last few months on one of these projects – and mine is coming out next week! In the meantime, you have read the packages about StockX and Tonel, and our latest has just arrived: Calvio EC-1:
Long read and enjoy big thanks Danny Crichton, Co-host and managing editor of My Equity at ClearTips, which is managing and editing all these projects.
In the rest of this newsletter we’ll get All Rise Data, new Miami, and a new lineup you don’t want to miss. Follow me on Twitter @nmasc_ For week-long updates.
All (no) pick up (d)
All Rise, a nonprofit dedicated to increasing the footprint of women founders and funders, has released its annual report for 2020. The whole thing is worth reading honestly, but we specifically noted how the funding for women founders has dropped:
- Round shape + non-binary foundations for females were 49% lower than for males
- 85% of venture fund goes to all male teams
- 64% of VC firms still do not have a single female partner
- Black + LatinX female founders receive only 0.64% VC funding, a slight increase from the year before.
Here’s what you know: On equity, we talked about how these abscimal metrics were both a predictable but still surprising effect of a zoom investment. This disconnect is nonexistent during an upmarket – and matrix is one way we can benchmark progress.
Internet is the new miami
To quote Winnie CEO and co-founder Sarah Mauskoff, “The Internet is the new Miami.” Networks done online – either through the rise of meme culture or substack spice – can have a competitive advantage in the investment world, as two new funds showed us this week.
Here’s what: Ryan Hoover and Vedika Jain announce Weekend Fund 3, which will also include A. Raised $ 1 million community. And Chief Meme Officer Turner Novak finally launched Banana Capital’s Debut Fund with a $ 9.99 million fund.
Novak described how Internet-First influenced his investment:
“It’s just kind of where [my investments] Those are the people who understand the culture of the internet, to understand memes and to understand intelligence and humor and appreciate that a little bit more, ”he said. “They’re probably the ones who are more naturally comfortable investing, so it definitely skews that direction.”
While Novak did not share a clear goal or mandate about investing in the various founders, he pointed to his track record at Gayle VC, with 41% of his capital going to female CEOs. To date, 65% of Banana Capital’s portfolio founding teams consist of non-white founders and 50% of teams consist of more than one gender.
Throughout the week
Seen on techcrunch
AWS for blockchain
Atlassian launched cumin for each team
CES will return to Las Vegas in 2022
Microsoft’s new default font option, rated
Seen on extra crunch
Hacking my way into analytics: a creative journey to design with data
How Brex more than doubled its valuation in one year
India is in trouble. It is destructive and heart-wrenching to reveal and influence our family and friends and colleagues and people. My colleague Manish Singh, who is there, wrote in various ways that you can donate to help.
I will end by quoting Singh:
As with many major industries including film and sports, with their lives stating that there is no crisis, entrepreneurs and startups have emerged as a rare ray of hope in recent times, navigating the country at its darkest hours Spring for action to help do.
This is a refreshing change from last year, when thousands of Indian startups struggled to survive on their own. And while some startups are still badly disrupted, offering help to the nation has become a priority for most.
Until next week,