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☆ Elon Musk's Crackdown at Twitter Offers Hope to Fellow Tech Founders
▼ + stars: | 2022-12-19 | by ( Melia Russell | ) www.businessinsider.com time to read: +9 min

But there's one group, almost unnoticed in the midst of the online firestorm, that has been cheering Musk on from the sidelines: other tech executives. To some founders, Musk is simply a monstrous version of the executive they wish they could be. Musk is getting rid of perks like free meals in the Twitter cafeteria — and other tech executives are taking note. Musk's slash-and-burn approach gives tech executives cover for making unpopular decisions. But now, as tech companies cut back to prepare for a recession, the "rough waters out there" have forced his staff to "reevaluate" their demands.

☆ Netflix's 'Emily in Paris' embraces French life in new season
▼ + stars: | 2022-12-14 | by ( ) www.reuters.com time to read: +1 min

PARIS, Dec 14 (Reuters) - Cultural frictions give way to personality clashes in Netflix's (NFLX.O) "Emily in Paris," according to creator Darren Star who recently joined the show's cast members in the French capital for the global premiere of the third season. The new season of the television comedy starring Lily Collins as Emily Cooper, an American who moves to Paris from Chicago for a marketing job, will be released on Dec. 21. Kate Walsh, William Abadie, Philippine Leroy-Beaulieu, Samuel Arnold, Lily Collins, Ashley Park, Lucien Laviscount, Camille Razat, Bruno Gouery and Lucas Bravo attend the world premiere of the third season of the Netflix series "Emily in Paris" at the Theatre des Champs Elysees in Paris, France, December 6, 2022. In the third season, actors Paul Forman and Melia Kreiling join as new cast members. “New characters come in and add a lot of new texture and complications for the entire ensemble,” said Star.

☆ The M&A market just went out with a bang after a terrible year, and it could be a sign of good times to come
▼ + stars: | 2022-12-13 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

(Hint: it's not on Wall Street.) Meanwhile, the largest deal of the year — Microsoft's $68.7 billion bid for Activision — might not even happen, thanks to regulators. But credit unions and community banks aren't happy with the new terms, The Wall Street Journal reports. Big tech nabs from Wall Street. Company culture on Wall Street: not great!

☆ Trust between the West and Russia has been destroyed, NATO chief says
▼ + stars: | 2022-12-12 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +2 min

The West has tried to build bridges with Russia since the end of the Cold War but any trust that was established in recent years has been destroyed with Russia's invasion of Ukraine, NATO Director-General Jens Stoltenberg said Monday. "NATO strived for decades to develop a better, more constructive relationship with Russia," he told CNBC's Hadley Gamble in Brussels. Stoltenberg said a level of trust that had been established during a rapprochement between Western nations and Russia in recent decades had been destroyed by Moscow's decision to invade Ukraine. "Even if the fighting ends, we will not return to some kind of normal, friendly, relationship with Russia. "I think the war has had long-lasting consequences for the relationship with Russia."

☆ See the pitch deck that startup Assembly used to convince investors to bet $10 million on its approach to business software
▼ + stars: | 2022-12-12 | by ( Melia Russell | ) www.businessinsider.com time to read: +5 min

Assembly is a software app aimed at helping businesses manage their teams and projects. Here's the pitch deck it used to fundraise at an interesting time for the business apps category. Instead of splurging on a dozen business apps, they want "one single Swiss Army knife," said Hunter Walk, an Assembly investor. "One of the things we're trying to do is help you speed up your work," Purvis said, "and make it more delightful." Read the pitch deck Assembly used to woo clients and to land a preemptive funding offer in 2022:

☆ VCs say superpowered software, a dearth of new funds, and rampant M&A among the tech trends to watch in 2023
▼ + stars: | 2022-12-12 | by ( Melia Russell | ) www.businessinsider.com time to read: +1 min

We asked investors from firms like Accel, Sequoia, IVP, and Lightspeed to share their forecasts. Party rounds are out, unicorns are in, and the venture market will get worse before it gets better. Sign up for our newsletter for the latest tech news and scoops — delivered daily to your inbox. Loading Something is loading. We asked them to reveal the hot sectors they're eyeing, the trends that will fizzle, and the new realities of fundraising — for both startups and venture fund managers — in a tech downturn.

☆ 27 women in venture capital who made partner or higher at firms like Andreessen Horowitz and Lightspeed in 2022
▼ + stars: | 2022-12-07 | by ( Melia Russell | Stephanie Palazzolo | ) www.businessinsider.com time to read: +1 min

But more firms made moves to close the gender gap in 2022, hiring and promoting female partners and general partners. PitchBook data indicates that the share of women in decision-making roles at venture firms held steady year over year, with women representing 16% of general partners at firms with over $50 million in assets. To toast their success, Insider is recognizing the women in venture capital who made partner or general partner for the first time in 2022. You can read more on Europe's new female partners here. Let us know who we missed — investing partners or general partners only, please — by contacting Melia Russell at mrussell@insider.com

☆ Netflix hit 'Emily in Paris' draws cast to French capital for global premiere
▼ + stars: | 2022-12-06 | by ( ) www.reuters.com time to read: +1 min

PARIS, Dec 6 (Reuters) - The cast of "Emily in Paris" will take to the red carpet in the city of lights Tuesday for the global premiere of season three of the popular Netflix series. Slated for release on Dec. 21, the new season of the television comedy stars Lily Collins as Emily Cooper, an American who has relocated from Chicago to the French capital for a marketing job in the luxury industry. Philippine Leroy-Beaulieu, who plays the role of Emily's French boss, said that while the series pokes fun at the French, it also takes on Americans, pitting different working styles against one another - but hinted at newfound cooperation between the two cultures. "Emily in Paris" adds two new cast members, Paul Forman and Melia Kreiling, in the upcoming series. Reporting by Mimosa Spencer; Editing by Nick MacfieOur Standards: The Thomson Reuters Trust Principles.

☆ Andreessen Horowitz's buzzy tech publication Future is shutting down
▼ + stars: | 2022-12-01 | by ( Rob Price | Melia Russell | ) www.businessinsider.com time to read: +12 min

A source familiar with Andreessen Horowitz's content strategy confirmed to Insider that Future is shutting down. An Andreessen Horowitz spokesperson declined to comment on the record. Joe LonsdaleIn this new climate, many tech and venture firms' media strategy has shifted from glorified marketing to a more full-fledged editorial operation. In 2021, an army of more than two dozen marketers at Andreessen Horowitz doubled down on this approach. Disclosure: Melia Russell's husband is a former employee of Andreessen Horowitz.

'REFUGE FOR WINTER' AND BEYONDVisitors and more permanent residents are also arriving from Germany, which was highly dependent on Russian gas before the Ukraine war and is anxious about possible winter energy shortages. Airlines will increase by 31% the number of seats available to the Canary Islands, the regional tourism office said. Airbnb, the short-term rentals firm, said searches for winter stays in southern Europe tripled between April and June. "Even before the energy crisis, we would have liked to be in Portugal because of the weather," the 28-year-old said. "But with the energy crisis, (being in Portugal) gives us more security because of the climate."

☆ 7 recruiters at high-flying venture firms like Accel, Index, and Lightspeed share their best tips for jobseekers
▼ + stars: | 2022-11-24 | by ( Melia Russell | ) www.businessinsider.com time to read: 1 min

"Be honest about why you need to find a new role"Lauren Illovsky is a talent partner at Gradient Ventures. Gradient VenturesPeople who get laid off might be tempted to try to hide it from recruiters. There's no need for tricks, said Lauren Illovsky, a talent partner at CapitalG, a firm that's backed by Alphabet. "In this climate, you don't need to worry about reputational damage from being let go due to a company restructuring or change in company priorities," Illovsky said. She tells people to treat a layoff like any other job transition.

☆ VC firm IVP warns startups to 'surgically pare down expenses' with a looming recession. Here's the deck it shared with execs.
▼ + stars: | 2022-11-24 | by ( Melia Russell | ) www.businessinsider.com time to read: +4 min

In a new presentation, the VC firm IVP tells startup leaders to batten down the hatches. Insider has exclusive access to the firm's deck, titled, "Thriving in a Bear Market: A CFO's Guide." That has ripple effects for venture-backed, private companies that rely on outside investment to operate and grow. In the first half of 2022, venture firms raised $83 billion in new funds — the highest amount over a six-month period for the industry, according to a recent report by Silicon Valley Bank. "The market environment is definitely going to favor companies with real market differentiation," Vashee said.

☆ Spanish short-term rentals boom has tourist sector clamouring for rules
▼ + stars: | 2022-11-22 | by ( ) www.reuters.com time to read: +3 min

Spanish travel industry association Exceltur said that about 300,000 homes are offered for short-term rental in the country's 20 largest cities, with some 389,779 rooms managed by hotels. Exceltur, which groups together major Spanish hotel chains, travel agents, tour operators and airlines, is lobbying for a new law to regulate short-term rental platforms such as such as Airbnb, describing the situation as "out of control". Renting to tourists is twice as profitable as offering long-term rentals to residents, the Exceltur study showed. In Spain, short-term rentals are also cheaper, on average, than hotels. These include forcing platforms to verify that individual hosts are properly registered as tourist accommodation providers, with official permission to operate.

☆ Drive Capital's Mark Kvamme is raising a fund that's like a sovereign wealth fund for Ohio, one month after stepping down from the $2.2 billion venture-capital firm he cofounded
▼ + stars: | 2022-11-16 | by ( Melia Russell | ) www.businessinsider.com time to read: +4 min

In October, Mark Kvamme said he was stepping down at Drive Capital, the venture firm he founded. The so-called Ohio Fund will raise money mostly from Ohio institutional investors, sources said. The new fund — whose working title is "Ohio Fund" — has drawn comparisons to a sovereign wealth fund, because Kvamme plans to raise capital from mostly Ohio institutions. Unlike the venture firm he founded, the Ohio Fund will invest in multiple asset classes, including other funds, public stocks, private companies in Ohio, and infrastructure, sources said. He stayed one year before striking out on his own with ambitions to start a venture firm.

☆ In a tech downturn, breakout stars of venture capital are going abroad to hunt for funding. Here's why.
▼ + stars: | 2022-11-14 | by ( Melia Russell | ) www.businessinsider.com time to read: +9 min

The flow of capital motivated more investors to split from established firms and raise their own funds, but it hasn't always been easy. For years they've gone abroad to raise capital from limited partners, mostly wealthy individuals and family offices. This isn't new territory for international investors. He continues to use his personal wealth to back startups and venture funds mostly stateside, including Sequoia Capital, Andreessen Horowitz, and Brianne Kimmel's Worklife Ventures. Even those with ties to international investors may struggle to raise funds as fears of a global recession escalate.

☆ How the same mistake led to thousands of layoffs across the Tech industry
▼ + stars: | 2022-11-11 | by ( Matt Weinberger | ) www.businessinsider.com time to read: +5 min

Tech CEOs all made the same dumb mistake, and it's cost thousands of jobs. In his first remarks to Twitter employees, Musk said that the service's success is far from guaranteed and that bankruptcy is an option. Meta insiders say they have little to no visibility into who, exactly, got let go in the culling of 11,000 jobs. Shopping on social media is the wave of the future; just ask Elon Musk. Keep updated with the latest tech news throughout your day by checking out The Refresh from Insider, a dynamic audio news brief from the Insider newsroom.

☆ Tiger Global, Coatue, and other hedge funds tried to upend venture capital. It backfired and now they're 'licking their wounds,' VCs say.
▼ + stars: | 2022-11-11 | by ( Darius Rafieyan | Melia Russell | ) www.businessinsider.com time to read: +10 min

New investments by Tiger Global and Coatue fell 60% and 67%, respectively, this year. "They're licking their wounds," said Nihal Mehta, a founding partner at Eniac Ventures, whose portfolio includes the marketing-tech startup Attentive, a crown jewel of Tiger Global and Coatue's portfolios. Speaking to founders, Mehta hears crossover funds come up less and less in conversation, and partners at some crossover funds tell him they're pulling back from new deals, though crossover funds haven't disappeared altogether. Crossover funds found themselves with billions of dollars in deployed capital and few exits in sight. Last month, Tiger Global and Coatue both revealed they are seeking to raise new funds earmarked for early-stage startup deals.

☆ 'The English' and 'Mammals' review: Emily Blunt and James Corden can't lead two Amazon series out of the woods
▼ + stars: | 2022-11-10 | by ( Review Brian Lowry | ) edition.cnn.com time to read: +4 min

Both run six episodes, with “The English” structured as a limited series, and “Mammals” paving the way for future seasons, while incorporating too many twists in its dramedy format to discuss much about what happens. James Corden and Melia Kreiling in Amazon's dark comedy "Mammals." While both series should help bring attention to Amazon Prime, neither completely works. That said, there’s probably not enough strictly on their respective merits to lead either of these Amazon shows through the jungle and out of the woods. “Mammals” and “The English” premiere November 11 on Amazon Prime.

☆ Sequoia Capital took a $213 million bath on FTX after the crypto exchange imploded. That's not that bad, VCs say.
▼ + stars: | 2022-11-10 | by ( Melia Russell | ) www.businessinsider.com time to read: +6 min

FTX investor Sequoia Capital has marked down its position to $0 as the crypto exchange crumbles. Sequoia Capital now views its $213.5 million investment in FTX as worthless as the crypto exchange teeters on the brink of collapse after an eleventh-hour deal to salvage the business fell apart. "Somehow Sequoia capital turned a FTX write down to zero into a humblebrag. It invested $150 million into FTX through its third growth fund, which Sequoia said totaled less than 3% of that fund's capital commitments. In its letter to investors, Sequoia said it does "extensive research and thorough diligence" on every investment it makes.

☆ Scoop: Andreessen Horowitz beats out Benchmark and NEA to lead Series A funding round for Partiful, the 'Eventbrite for Gen Z'
▼ + stars: | 2022-11-08 | by ( Ben Bergman | Melia Russell | ) www.businessinsider.com time to read: +3 min

Andreessen Horowitz beat out other firms to lead Partiful's series A round, according to sources. Neither the cofounders of Partiful nor Andreessen Horowitz responded to a request for comment. After an intense bidding war, Andreessen Horowitz beat out rival VC firms, including Benchmark and New Enterprise Associates, to lead Partiful's series A funding round, according to three people with knowledge of the financing who were not authorized to speak publicly. Andreessen Horowitz also did not respond to a request for comment. Venture investors, eager to find the next buzzy consumer app, have marveled at Partiful's growth.

A report says Midwest startups took in over $15 billion in funding from July 2021 to June 2022. This list showcases the top investors across the Midwest from cities like Chicago and St. Louis. It hasn't been an easy year for tech startups as valuations have tanked and funding has dried up, resulting in widespread layoffs. For this list, we asked venture capitalists from across the country about the Midwest investors to know. To qualify, an investor needed to be a resident of the Midwest, but their firms and portfolio companies could be anywhere.

☆ How fintech super-connector Rex Salisbury went from A16Z's first fintech team hire to solo capitalist with a $20 million debut fund
▼ + stars: | 2022-10-31 | by ( Melia Russell | ) www.businessinsider.com time to read: +4 min

Salisbury's deal flow comes from a community of fintech founders he's cultivated over the years. That surprised Salisbury, the lone partner at new fintech firm Cambrian Ventures, given that he'd never met the OatFi founders before. Though, Salisbury defied the first-time fund manager's curse when he closed $20 million for his inaugural fund in June. "I want people to have gotten value in some sense before we invest, or even if we never invest," Salisbury told Insider. When Salisbury left the firm, he took a part of the brand with him.

☆ Women in venture capital are writing the rules of maternity leave and bending the male-dominated culture to their will
▼ + stars: | 2022-10-31 | by ( Melia Russell | Madeline Renbarger | ) www.businessinsider.com time to read: +13 min

And with more women entering the male-dominated venture industry, firms are being forced to craft maternity leave policies on the fly to accommodate new mothers. Forty years ago, the clubby male world of venture capital admitted so few women that maternity leave as a benefit was effectively nonexistent. "There is no playbook about how to take maternity leave or raise a family while also accelerating your career as an investor." Lux CapitalLike in many male-dominated industries, maternity leave as a benefit for investors doesn't come up in conversation until someone needs it. Though, the best policies, investors said, give women choices about how they operate on leave, rather than prescribing a one-size-fits-all leave.

☆ $17.5 billion tech juggernaut Miro quietly snapped up video-chat startup Around in the ongoing battle to catch Zoom
▼ + stars: | 2022-10-12 | by ( Ben Bergman | Melia Russell | ) www.businessinsider.com time to read: +3 min

It was acquired by Miro in June but both parties kept quiet until contacted by Insider. Terms were not disclosed though one source put the value of the deal as high as $300 million. Miro, a visual collaboration company last valued at $17.5 billion, has quietly acquired Around, a next-generation video conferencing app. "A Zoom video call is basically a telephone connected to a video camera," Zane said. "We want to get the community to give us feedback in terms of the problems that we are solving."

☆ Here are 39 startup founders using their business chops to help other founders prosper
▼ + stars: | 2022-10-12 | by ( Melia Russell | ) www.businessinsider.com time to read: +1 min

Many startup founders are also active startup investors. Behind a great startup founder, more often than not, is another founder advising and investing in their potential. Founders often seek out other founders to join their cap tables because they know what it takes to build a successful and enduring company. Even in a funding crunch, these startup founders and operators are still writing lots of checks, three dozen investors tell Insider. For this list, we reached into our network of founders and investors to identify those who both run companies and invest.

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