Welcome to Startups Weekly, a new take on this week’s start and startup trends. To get this in your inbox, subscribe here.
I’ve been thinking a lot about silos, or the lack of them, within startup land. There is sometimes an artificial wall that is built between companies in different growth phases, when in reality everyone is in the same room, clattering glasses and tripping over the same rug.
Let me be more precise. With the late-stage market cool for tech companies, many novice investors say their portfolio companies aren’t too affected because they are years away from an exit and have enough capital to weather uncertainty. The same energy was on display at Early Stage this week. Peter Boyce II of Stellation Capital kindly told me that based on the term sheet he wrote yesterday, we are definitely still in a founder-friendly market, while a few entrepreneurs didn’t quite subtly remind me that experimental betting is still significant financing rounds.
I believe in optimism and view this time in early stage startups as a re-correction, not a reckoning. But new PitchBook and NVCA data shows that dollars are changing across the board.
For my full opinion, read my + column: “Let’s stop pretending there are silos in startup land.” In the rest of this newsletter, we’ll talk about social fintech, a new TC-1 on Kindbody, and some history about hostile takeovers. As always you can support me by forwarding this newsletter to a friend, follow me on twitter or subscribe to my personal blog.
Offer of the week
I covered Braid, a social fintech game that aims to make shared wallets with friends more mainstream. The startup recently launched a new spin on consumer payment links: People can set up a Braid Pool around any endeavor — a fund for this summer’s trip to Italy, gasoline costs for shared cars, or a cat to spend on monthly book club snacks — and then ship them out. a link to friends who want to deposit money. The money then goes directly into the wallet and the creator can manage it alone or together with participants.
Here’s why it matters: Fintech can’t just build for the smartest, most proactive person in the room, so I like that Braid is the middle ground between the friend who’s always on top to split the bill at the end of the day. dinner and the one who gets overwhelmed when calculating and dividing the tip. Ahem, me. Something as emotional as sharing money certainly comes with challenges – which I outline in my piece – but it also starts a fascinating conversation.
The Kindbody TC-1
Rae Witte delved into the story of Kindbody, a fertility startup that has raised $154.7 million in known venture capital to date with a revolutionary take: It’s important that patients feel heard and at ease.
Here’s why it matters: We know that “holistic health” is the term du jour for digital health companies, so there are natural questions about whether Kindbody’s take on fertility support is actually making an impact. This, from one of the stories, gives me hope:
Fertility patients have diverse needs, and their experience on the portal reflects that. An LGBTQ+ patient will not be asked the same questions or given the same information as a heterosexual couple because their fertility journey is biologically different. When patients sign up, they state how they identify themselves and what services they use. This personalization continues throughout the patient journey, both during visits and through the portal.
The whole series:
Hostile takeover, anyone?
Elon Musk made news again this week with his fixation on Twitter. This time, the billionaire offered to buy Twitter, driving stock prices soaring and digging into the history of hostile takeovers. Simply put, a hostile takeover occurs when a company or individual tries to take over another company against the will of the company’s management. It’s spicy.
Here’s why it’s important: I mean, for anyone following the Twitter and Musk saga, it’s important to understand how realistic it is for a takeover to actually happen. As Kyle Wiggers taught me in his piece, these takeovers are usually doomed to fail one way or another, thanks to poison pills and power balances.
If you have no idea what I’m talking about, take a moment:
during the week
Early Stage 2022 was so damn fun. Thanks to everyone who attended, asked questions and said hello as it was a real thrill for the team to meet the readers in person after far too long. If you missed the event, a summary of all panels on + will be rolling out in the coming weeks, so stay tuned. Get tickets to next month’s event: Mobility, a two-day hybrid conference featuring the automotive industry’s top investors, founders and thought leaders. Finally, if you missed last week’s Startups Weekly, read it here: Crypto’s Latest Disruption May Be Investors’ Expectations and listen to a podcast about it here: Venture needs more crypto than crypto needs.
Faraday Future Downgrades Founder As Management Shake Continues
Lydia Hylton On Why She Joined Bain Capital Crypto Despite ‘That Tweet’
Windmill wants to drag window AC units dragging and screaming to 2022
SoftBank Shifts LatAm Plan With New Early-Stage Spinout, Upload Ventures
More than 14,000 Etsy sellers go on strike to protest higher transaction fees
Seen on +
Is Stripe Cheap At $95 Billion?
Why EV startups need to brake before merging with a SPAC
Dear Sophie: I did not win the H-1B lottery. What are my next steps?
Behind-the-scenes look at a Ukrainian fintech startup adapting to wartime life
Mayfield’s Arvind Gupta discusses fundraising for startups during a recession
Until next time,