Week 4, September 21 – Weekly Wrap Up
1.) Changing of the VC Guard
2.) More China Stuff
3.) Raise A Toast
4.) OpenSea Oopsie
1.) Changing of the VC Guard: a slew of retirements crossed the tape this past week with Lightspeed’s Jeremy Liew, Spark’s Bijan Sabet, and Roger Ehrenberg of IA Ventures hanging up their sheets. A flood of returns and COVID introspection is sure to bring more change early stage venture!
2.) More China Stuff: one of their largest real estate developers (Evergrande) is on the brink of collapse, the CCP has double secret banned crypto, and..more nationalist changes galore
3.) Raise A Toast: Boston based restaurant tech startup Toast went public and soared >50% after it’s debut. A notable resurgence after laying off 50% of its employees in the spring of 2020 due to COVID. Everyone loves a comeback story!
4.) OpenSea Oopsie: the decentralized world is trustless. Then OpenSea fired an employee for buying NFTs with the inside knowledge that they were about to be featured on the site’s homepage before later flipping them to other investors. Still trying to build trust in the *trustless* world. Gotta be better!