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Venture Crapital

Venture Crapital

Memo to Robinhood traders: “Bankruptcy” usually means the equity gets wiped out

June 12, 2020

Quick primer on how it works, given Hertz is about to pull the world’s first Initial Bankruptcy Offering: The senior debt holders are first in line …

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Thematic next-wave portfolio constructor Motif goes bust

April 19, 2020

Motif trading platform, which claimed to use data driven methodologies to enable the creation of thematic and “next-wave” portfolios (translation: they grep 10Q’s for keywords) has rather abruptly shut  down. Their own advisors heard about it via Twitter. Yes, it did come with %FIRSTNANE%, who cares I guess… pic.twitter.com/3IuwpuBJQG — Hylland Capital (@HyllandCapital) April 18, 2020 They also had developed some  “next generation thematic ETFs” like “human evolution reimagined” (SPTX), which were launched by Goldman…

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Siri: What is a “Unicorn circle jerk”?

April 15, 2020

Carta, a unicorn that makes dashboards for managing equity investments in other unicorns is laying off staff and sniffing out a cash injection from existing backers. Bloomberg reports that the company is seekng a $200 million investment from existing investors at a $3 billion valuation, up from 1.8B last year. Somewhat incongruent with the “growth story” picture that normally garners such a sharply higher round, Carta is laying off employees. They just axed 161 people…

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AirBnB Pivots to “Virtual Experiences”, Lands $1 Billion  Down Round

AirBnB Pivots to “Virtual Experiences”, Lands $1 Billion Down Round

April 12, 2020

AirBnB, the tech unicorn that monetizes your spare room has been hit hard by the Coronavirus academic. As the company and the phenomenon grew, more and more “investors” levered up to buy more properties to rent out short term. Some becoming so-called “super-hosts”, running dozens or even hundreds of rental units. There even emerged a phenomenon, of “STR arbitrage“, which is Short Term Rental Arbitrage: taking out long term leases on properties you don’t own,…

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Tesla to lay off up to half of sales and delivery staff

April 10, 2020

CNBC reported Friday that Tesla will be laying off up to half of it’s sales and delivery staff, this comes on the heels of other layoffs reported earlier in the week. Salaried employees are looking at pay cuts of 10% to 30%. In other news, Elon’s brother Kimball appears to have pulled a switcheroo on his employees “emergency fund” for his Nextdoor Restaurant chain, pulling the plug on the fund right before he laid off…

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Pley, that hot start-up that rented Legos by the month inexplicably failed.

September 11, 2019

So yeah, I decided with WeWork and $TSLAQ and assorted unicorn b.s (like TIL that Softbank put $300M into a dog walking app can you believe that?) even though I’m busy with normal things, I am rekindling VCrap. On a whim I decided to look up a company I heard about a few years ago, a hot start-up that secured $6.75M series A …to rent Legos by the month. That was in March 2014. In Feb,…

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Contributors

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Mark E. Jeftovic

Mark is the co-founder of easyDNS and the editor-in-chief of #AxisOfEasy. He is the author of Managing Mission Critical Domains & DNS (Packt UK, 2018) and Unassailable: Protect Yourself from Deplatform Attacks & Cancel Culture. 

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Jesse Hirsh

Futurist, researcher and public speaker, Jesse Hirsh has been active in technology and commenting on it across the media for 25 years. His premium newsletter service operates from Metaviews.ca.

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Charles Hugh Smith

Charles Hugh Smith is the author of numerous books and writes from OfTwoMinds.com.