Some personal news...
Today is my first day at Bloomberg
@business
! I'm joining the
@wealth
team as a reporter to cover the intersection of money and Silicon Valley.
My first Forbes cover story: meet the invisible guiding force behind some of Silicon Valley's most important diversity initiatives so far.
@alexrkonrad
and I have the exclusive story on All Raise, a group of 36 top women in VC changing their industry
A year ago, I was that person ugly crying in an airport as I found out mid-layover I lost my job and Protocol was shutting down.
Today, I published my first story for Bloomberg Businessweek and love how much I'm learning on my new beat. It was a hard journey, but I'm grateful.
I've always said Protocol was on the rollercoaster journey of a startup. From launch in Feb 2020, layoffs months later, to astounding rebound and growth, followed by an acquisition by Axel Springer — we'd done it all.
Now it's the end of that journey: Protocol is shutting down.
Uber not letting go of its flying taxi plans, despite all the other drama in its business. This time, it's heading for Los Angeles with a vision of UberAir covered skies ahead of the Olympics:
I've always said Protocol was on the rollercoaster journey of a startup. From launch in Feb 2020, layoffs months later, to astounding rebound and growth, followed by an acquisition by Axel Springer — we'd done it all.
Now it's the end of that journey: Protocol is shutting down.
Some personal news, as they say:
I’m thrilled to be joining the team at
@protocol_media
to cover Silicon Valley.
As someone who has focused on startups in her reporting, it’s exciting to be joining on the ground floor of something new.
Andreessen Horowitz is blowing up the venture capital model again.
This time, it’s by re-registering its entire firm as financial advisors so it can take riskier bets — and renouncing its status as a venture capital firm entirely.
Exclusive: Notion recently did a tender offer, allowing employees to sell shares to Sequoia & Index at its previous $10.3 billion valuation. It's also added the Flowdash team during a summer of M&A.
More on how Notion is leaning in during a downturn:
Can Sequoia legend Michael Moritz fix San Francisco?
Like many, he's been "fed up" with the city. But unlike most, he's put hundreds of millions - and years of his own time and work - into trying to make it better (or at least his definition of it anyway)
My toddler has been telling her preschool that I take a boat to work and work with fish.
Her teachers thought I was some cool marine biologist, so I had to break the news that I just take the ferry to work and there's a fish tank at my office so I work "with fish" in a sense.
Alex Konrad
@alexrkonrad
and I have been lucky to shadow these women through the planning meetings, the working group sessions, and at their events. The result is a historic cover for
@Forbes
-- Thanks for reading!
New from me: Meet the Palantir Pack.
It's not just a byproduct of the PayPal Mafia. Palantir alumni have formed their own network by following the Palantir playbook of going after big problems, putting in the hard work and adding highly technical talent
I asked
@rklau
what shocked him about joining the government after 13+ years at Google. His answer shocked me: "I think the shock is the pace at which we execute; it's at least as blistering as anything I've ever experienced at Google."
Reid Hoffman is backing a new kind of venture model: sending partners, not cash, into startups
Started by
@dan_portillo
, Greylock’s former head of talent, Sweat Equity Ventures puts its team to work inside the startups in exchange for common stock.
My dog got mad about being left alone and ate an entire loaf of bread while I was at work, so at least I know he takes after me when it comes to eating his feelings
A new most hated PR trend: offering an “exclusive” that’s really just an exclusive investor conversation or an exclusive anecdote. Either offer an exclusive on the news or don’t bother trying to mislead me.
We lost a very talented colleague last week,
@BlakeSchmidt
, a few days shy of his 40th birthday. He was a reporting tour-de-force who traveled the globe for Bloomberg.
His last piece, published Friday, is on Eric Schmidt's fortune influencing AI policy
Uber's founders in 2008 thought the best-case scenario for what they were calling UberCab was to hit $1 billion in revenue. Their "more realistic success scenario"? Reach 5% of the top U.S. cities and generate $20 million in profits.
I’m doing my first in-person meetings in San Francisco today and already stood in line at a fancy coffee place behind a venture firm intern talking about how their fund is behind on their crypto strategy. Nature is healing.
This is sadly not my first rodeo with being in a newsroom that suddenly shuts down, but it doesn't sting any less. I plan to take the next few weeks to process before I look ahead to what's next. Thank you, as always, for reading. 🫡
Wow - this is an incredible letter from Sequoia on coronavirus.
"We suggest you question every assumption about your business"
including: headcount, cash runway, fundraising, sales forecasts
It's crazy timing to join in the middle of the SVB failure and the fallout from it, but I'm excited to get started! Please send all story tips to bcarson28
@bloomberg
.net.
Rest easy, my Sarah Bear. You were fierce and loyal to those you loved, and we’re forever blessed to have been your people for 14 of your 16 years. I hope there’s lots of pinecones and puppuccinnos across the rainbow bridge.
All Raise’s goal: increase the number of women funded from 15% to 25% in five years, and double the percentage of women decision-makers and check-writers at venture firms in 10 years.
All Raise has been meeting in secret for months to increase the # of female founder and funders in tech. 800 women signed up for 80 slots at the first 2 meetings of Female Founders Office Hours; nearly 700 startup founders signed up for Founders For Change
This week on Pipeline: A new "mafia"? Mapping the alumni of Square
Plus, get to know
@a16z
's
@illscience
who really misses the cassette tape and had my editor saying "This is fascinating!" multiple times in the comments.
* no, not to Miami. To the East Bay, like most people moving out of SF.
Now it's time to redownload Twitter on my phone, and mass delete the thousands of emails in my inbox from the last three months. I'm excited to be back at Protocol and writing again!
My latest for
@Forbes
with
@Kchaykowski
:
Anne Wojcicki raised genetic-testing company, 23andMe, from a wonky wunderkind through a troubled adolescence. Now her $2.5 billion biotech machine is ready to take the next step, combining big data and big pharma.
This is my photo that defines being pregnant in the pandemic: Being alone, in a mask, for another check-up at the hospital, so I could bring new life into what felt like the end of the world.
Sonder CEO Francis Davidson: “I think in 20 or 30 years people will look back at these downtown, stuffy, kind-of-expensive hotel rooms and be like ‘I can’t believe it was like that." Investors have bought in too, to the tune of $135M
Flying pet peeve: airlines that require you to watch movies on your phone/laptop, but then don’t provide outlets for charging. Especially when it’s a 5.5 hour flight 😑
Wow, Austin Geidt - Uber's first intern - ends up being the one to ring the bell as Dara Khosrowshahi applauds next to her. She's been there since the beginning:
I'm experimenting with something new at
@protocol
: a weekly newsletter/column called Protocol Pipeline focused on the startup and venture capital community. And with the spirit of being a startup, here's the first version (my MVP in startup speak):
Lots of people start on Poshmark just selling used clothes, but it’s turning a lot of women (and men!) into their own fashion entrepreneurs. Some have even opened their own brick and mortar stores as a result:
also, hi Twitter. I've been sick for a bit, but feeling better. So send me your news tips and all the VC overheard tweets I missed the last few months.
Today’s daily cover story for
@Forbes
: Inside Minted’s plan to take on Hallmark – and the rest of the retail art world – by handing over design decisions to the crowd: