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Welcome to Startups Weekly, this week’s spotlight on startup news and trends by Senior Correspondent Natasha Mascarnhas.
Beginners Weekly readers know that I love Eastern history, and now I have one of my own: I’m leaving TechCrunch! This is the last issue of Beginners Weekly, a weekly newsletter I’ve written for over two years. Continuing my reporting on venture capital and startups, I’m moving on to a new publication.
It is a bitter move. I spent most of my graduate career at TechCruach. The publication helped me land many professional debuts: my first scoop, my first long-form feature story, my first review run bull cycle, and my first layoff bear cycle. I also launched a brand new show called Fairness, TC’s flagship podcast, interviewing guests about their hottest jobs and career paths. Also, I interviewed Kevin Hart on Riot. Grateful is an understatement.
While this is my last startup weekly, it is not the end of this newsletter. I am so glad to share that. Haje Jan KampsThe longtime reporter and creator of our amazing Pitch Deck Teardown series takes over Startups Weekly. Haje is one of the journalists I quote the most in this newsletter because all of his works fit the “beginner must read” category – and his clever headlines don’t hurt either.
As for who’s covering my beat, TC has a desk including but not limited to Connie Loizos, Mary Ann Azevedo, Christine Hall, Dominique-Madori Davis, and Rebecca Skutack. Big shout out to Kyle Wiggers who covers Artificial Intelligence with Devin Coldaway.
In my next role, I will cover the same beat and the same city, focusing on in-depth features and scoops. To learn more about where I’m going next and to follow my work, check out my (FREE!!!) substack and Stay connected on Twitter. I am excited for the new challenge. Tech has never been more newsworthy. Sources, I still like your tips: My signal is: 1 925 271 0912.
Now let’s get into the newspaper!
The AI debate
On TC+, I wrote a story about the debate going on in every venture firm these days: What’s the best way to capture the artificial intelligence zeitgeist?
Here is an excerpt:
Precursor’s Charles Hudson wants to be careful, but not too careful. The venture capitalist was one of many at last month’s AI confab, but he — and many others — haven’t made a new AI investment in the current hysterical cycle.
And like many investors, he’s seen the early takeover of the sector, bringing in boatloads of capital, new founders and, at times, quick, FOMO-driven deals. Historically, Hudson didn’t mind sitting outdoors. “For example, I was fine with being below zero in crypto,” he said. “I don’t think I’m okay with zero for AIA’s answer. The question is where and how.
- OpenAI’s new tool tries to explain the properties of language models.
- Mayfield raised just shy of $1B to avoid unicorn incentives
- Anthroponic thinks it’s the best way to train ‘constitutional AI’ models
Image Credits: Daniel Grizelj (Opens in a new window) / Getty Images
Release of new speed controllers
The team behind Better Tomorrow Ventures has seen some big wins before the firm was even formed – the founding duo backed 500 early seed companies. Now, founding partners Sheel Mohnot and Jake Gibson are launching their own accelerator.
Here’s what you need to know: Mint will be a San Francisco-based three-month accelerator to exchange 10% equity in between six and 10 startups. One company has already accepted the first batch which will start next August and sent a second acceptance letter today.
Better Tomorrow seems to be stepping in where it believes Y Combinator is lacking. “YC is built to scale. The advice is like one-size-fits-all,” said Mohnot. “We felt like with fintech, there are so many things that are unique about building that it makes sense to have something different.”
- AI2 Incubator’s new $30M funding triples early stage AI startups
- High interest rates are fueling fintech’s return story.
- We are near peak pessimism in the fintech environment.
Image Credits: Shiher Azizan. (Opens in a new window) / Shutterstock (Opens in a new window)
Venture-backed for all real-world problems, please.
On this week’s fair, the trio discussed some of the week’s conventions and themes – but the show’s bright spot was definitely Mary Ann Welty’s cover. The startup recently raised $25 million to help caregivers feel overwhelmed with a product it describes as a “tech-enabled care concierge.”
Here’s what you need to know: Even though the venture ecosystem has been quick to back digital health startups, and mental health is growing as a conversation, it’s never enough on differentiated care.
- In the story of a founder’s choice to close her startup and advice for others going forward
- Yes, technological progress is slowing down.
- Despite the rocky start, climate technology is well-positioned to weather the rest of 2023.
- And that’s a wrap on my final piece of equity! To the Equality listeners, thank you for coming along throughout my journey on the show, from jumping on Equality Fridays to hosting and creating our Equality Opportunities Wednesday episodes. I’m very proud of my three years on the show and can’t wait to be a good listener from afar now. Big love to you all, and I hope to win you over when I start a new podcast!
Image Credits: Getty Images
etc. etc.
- Programming Notes: If you’re reading this in a browser, get it in your inbox too! Subscribe here and share with your friends.
- of course: It is a time of turmoil. Remember there is a ticket for every budget and role.
- And finally, I have a shameless plug: They make me scap! Tell me if you’ve ever heard of a venture firm or startup winning, scaling, crowding out, or, oh I don’t know, firing an executive due to internal events. I like to see. Early stages of pitch And timetables too. Happy Speaking of anonymity And further explain my process and what I am looking for. You can tell me things on signal at +1 925 271 0912. No tones, please.
Featured on TechCrunch.
All Rise’s interim CEO is now full-time.
Elon Musk has announced that he has a new CEO for Twitter.
Bottled Wine with Alison Louvera and Lauren De Niro Pfeiffer Can Be Boogie with Juliet.
Former FTX CEO Sam Bankman-Fried wants to deny many of the US charges
Twitter is launching encrypted DMs for verified users with security concerns
Featured on TechCrunch+.
Pitch Deck Teardown: Fibery’s $5.2M Series A deck
Hiding in plain sight: 5 red flags for investors
Tech workers can take labor lessons from Hollywood writers
Ask Sophie: Can I apply for EB-1A without first obtaining an O-1A?
It was fun. See you on the other side – and I hope you can read along,
A pillar, in this market‽ by Natasha Mascarinhas was originally published on TechCrunch.
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