What is that we hear? Is that Friday, May 20, 2022, on the calendar and the soft, seductive siren song of a weekend just around the corner? Why, yes, it must be!
Our events team is busy putting together a great businesstraverse.com Disrupt, and we’re excited about Startup Battlefield, where the winner takes home a $100,000 check to help build the future it envisions. Here’s how to get you in the running. † hi and Christine
The businesstraverse.com Top 3
- UST UGH: Terraform Labs founder Do Kwon has something to do with South Korea’s Financial Crimes Specialty Unit, which earlier this month launched an investigation into the collapse of Terraform’s stablecoin TerraUSD (UST) and its sister token Luna. Prosecutors may be first in line, but the line is growing as investors file a lawsuit against Kwon and his co-founder Daniel Shin over alleged charges of fraud and other violations of financial regulations. Also participating are Luna Foundation Guard advisors who tell Jacquie that they haven’t heard from Kwon in weeks.
- keep distance: We enjoyed reading carly‘s piece outlining what happened to the ransomware attacks in Costa Rica – the Conti gang is trying to overthrow the government – and who could be next. At the time of our newsletter, the ransom portion was still going on. The specified deadline was May 23.
- Klarna konundrum: The payment company is said to be the last to be okay with lowering its valuation, and in his case, some capital is involved. We think Alex sums it up well by saying, “Nobody likes a down round. They’re watering down, messy, and demoralizing. But they’re also way better than not raising money and dying, so companies pick them up when they need to.” He elaborates on why Klarna is doing a lower rated insider round is worth it or not.
Startups and VC
Today we were a little excited about Haje’s somewhat expansive rant about Coca-Cola’s new caps that won’t come off the bottle, against a backdrop of greenwashing.
We also loved Brian‘s piece about Pebble founder Eric Migicovsky’s love for small phones. “If no one else makes one, I think I’ll be forced to make it myself,” laments Migicovsky.
Also, Brian and hi tag-teamed on a few articles about Sony’s new earbuds. Brian covers the earbuds themselves (“As someone who tests a lot of earbuds over the course of a year, the LinkBuds S are among the best sounding and most comfortable I’ve ever had in my ears”), and Haje double-clicked the Endel soundscape- creating app.
Put on your dancing shoes, a real dance party with more news is coming your way:
We also have a rundown of some of the great stories that came out of our Mobility Event:
Three things to remember when diversifying your startup’s cap table
Just like a sales team builds and refines its funnel, founders early in fundraising mode can create an investor funnel that will help sustain their business for years to come.
Oriana Papin-Zoghbi, CEO and co-founder of AOA Dx, the women’s health startup, shared her investor breakdown with TC+:
- 35% private investors
- 34% women (female investors or funds with a female head)
- 26% venture capitalists
- 23% family and friends
- 18% international investors
- 15% angel groups
“When building an investor funnel, it’s critical to spell out what you want to find the right investors,” Papin-Zoghbi says.
“Finding the right investors is like finding the right team members – you have to be candid about your expectations and address what you want them to bring forward.”
(businesstraverse.com+ is our membership program that helps founders and startup teams move forward. You can register here†
Big Tech Inc.
- Deposit 25 cents: If you’re a gamer, we assume you have some thoughts on God of War: Ragnarök. Devin’s opinion is that this game is “perhaps the most accessible title yet, and that’s saying something.” It’s good to see that Microsoft has created a game with features that are adaptable for people with certain specific disabilities, such as a visual or hearing impairment.
- The Family That Snaps Together Stays Together: For any parent eager to know who their teen is interacting with on Snapchat, the social media giant is about to launch its parental controls feature, “Family Center.” For those of you who aren’t on Snapchat or don’t have kids, Sarah tells us this is important because it’s one of the few social networks where you can’t see someone’s friends list.
- Holy Pokeballs!: There is now a Poké Ball reward for both Pokémon GO player and Amazon Prime member.
- dating update: It seems that Match Group, the parent company of dating apps Tinder, Hinge and OkCupid, is back on good terms with Google. Crisis averted?