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☆ Lucy Guo's second act: After the 29-year-old left Scale AI, she has the 'itch to build' something new
▼ + stars: | 2024-08-23 | by ( Sri Muppidi | ) www.businessinsider.com time to read: +10 min

But Lucy Guo, the 29-year-old cofounder of data labeling startup Scale AI blurs the line between the two archetypes. Yet this is the persona many have come to know since Guo left Scale AI in 2018. But, midway through the program, they pivoted again, this time to what would eventually become Scale AI. Lucy GuoThe idea of Scale AI came from a suggestion by one of their YC roommates, who proposed creating an "API for humans." Advertisement"The itch to build"After Scale AI, Guo decided to apply her learnings to a new entrepreneurial opportunity: investing.

Persons: —, Lucy Guo, Billie Eilish, Charlie XCX, Guo, she's, Adam D'Angelo, Alexandr Wang, Alex, Wang, Guo's, Cruise, Dave Fontenot, Kylie Jenner's lipsticks, Jake Paul's, Passes Organizations: Service, Business, Fry's Electronics, Carnegie Mellon University, Thiel, Facebook, Multicoin, Bond Locations: Miami, Fremont , California, San Francisco, China, hackathons, Quora

☆ 'He lied to us about what he was doing and who he was': Anthony Scaramucci reflects on the top 3 lessons he wants all investors to learn from his experience with Sam Bankman-Fried.
▼ + stars: | 2023-05-19 | by ( Laila Maidan | ) www.businessinsider.com time to read: +7 min

Anthony Scaramucci's investment firm SkyBridge Capital had a rough run in 2022 after being burned by the collapse of the bankrupt crypto exchange FTX. Scaramucci told Insider that the amount of leverage in the system and the tax-loss selling in December depressed their overall performance. Still, there are spillover effects — and lessons — from last year's debacle with FTX that Scaramucci and SkyBridge are working through. Lessons learned from the FTX debacleLast year, Sam Bankman-Fried through FTX, the crypto exchange he founded, bought 30% of SkyBridge for $45 million. And finally, as the majority shareholder of the firm, Scaramucci holds the right of refusal to reject any transfer of the shares.

☆ Bitcoin Family is moving more than $1 million into decentralized exchanges after Sam Bankman-Fried's FTX disaster
▼ + stars: | 2022-11-30 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +11 min

The Taihuttu family in November, days after moving back to Phuket. Didi TaihuttuZoom In Icon Arrows pointing outwards The Taihuttu family in Lagos, Portugal on the day they adopted Teddy, their Pomeranian puppy. Thumb drive-size devices like a Trezor or Ledger offer a way to secure crypto tokens "cold." When asked why he is going all in on DEXs instead of keeping his crypto cold, Didi pointed to ease of access. Under it all, the Bitcoin Family still believes that the original cryptocurrency is a solid bet.

It's a stark reversal for five-year-old Multicoin, which announced a $430 million fund in July, its third and largest to date. "We put entirely too much trust in our relationship with FTX," Multicoin managing partners Kyle Samani and Tushar Jain wrote in the 3,400-plus word letter, which CNBC obtained. Multicoin said it doesn't expect the crypto market to turn anytime soon. "Many trading firms will be wiped out and shut down, which will put pressure on liquidity and volume throughout the crypto ecosystem. The crypto market has experienced multiple pullbacks in the last few years and has bounced back.

The crypto exchange filed for bankruptcy Friday. The collapse of crypto exchange FTX has tripped up casual day traders and professional investors alike. Some 10% of the assets of a Multicoin Capital hedge fund are stuck at FTX, according to an investor letter viewed by The Wall Street Journal. It was able to pull out around 24% of fund assets held there before withdrawals were halted, the letter said. Earlier this month it told investors the fund was $1.2 billion in size.

Jordan Vonderhaar | Bloomberg | Getty Imageswatch nowSaylor was speaking on CNBC's "Squawk on the Street" as FTX's demise roiled the crypto market. Bitcoin tumbled 19% in December, as investors rotated into assets deemed safer in a tumultuous economy. David Marcus, former head of crypto at Facebook parent Meta , used a phrase that would soon enter the lexicon. "It's during crypto winters that the best entrepreneurs build the better companies," Marcus wrote in a Jan. 24 tweet. Ryan Gilbert, founder of fintech venture firm Launchpad Capital, said the crypto world is facing a crisis of confidence after the FTX implosion.

Hivemapper Inc, which announced $18 million in fundraising from investors in April, said it has so far sold over 5,500 dashcams across 66 countries. As drivers record road signs and storefronts, they mint tokens that Hivemapper named Honey. Hivemapper Chief Executive Ariel Seidman said U.S. regulations limit him from discussing how and when Honey can be spent. While some investors such as Hivemapper backer Multicoin Capital are bullish on Web3 efforts, skeptics worry about currency speculation and fraud. Mapmaker HERE, owned in part by German automakers, is evaluating Hivemapper's imagery for potential use, including for up-to-date speed limit data.

☆ 3 things not to do when pitching your startup to a VC, according to a partner at a $750 million crypto venture firm
▼ + stars: | 2022-10-26 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +6 min

Marc Weinstein, a partner at VC firm Mechanism Capital, has cut 100 checks as an angel investor. The crypto venture firm grew from $500,000 to a peak AUM of $750 million in two years. But venture firms like Mechanism Capital say there are still tons of deals to be made. Founders who are 'catching the latest fad'The Mechanism Capital partner is focused on the team's backgrounds and what they've accomplished in the past. The firm, Weinstein included, looks for a certain level of consistency in their potential portfolio companies.

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