$665M for quick commerce, TikTok fights back, and the TWiST500 startups we’re looking for next

Top News

• Indian quick commerce company Zepto has raised $665 million at a $3.6 billion valuation. Alex thinks the deal could be the last chance for investors to buy a good-sized chunk of the company, which is demonstrating that in some markets, ‘instant delivery’ is economically viable. Or at least, Glade Brook, Nexus and StepStone Group, who co-led the round, consider the company’s model sound.

• The United States has banned the sale of Kaspersky antivirus software, along with updates to its code. The move makes Kaspersky unviable in a critical software market. Why did the ban occur? Reuters reports that Commerce Secretary Gina Raimondo — the pride of Rhode Island — views “Russia's influence over the company poses a significant security risk.”

• TikTok is fighting back against a forced divesture or ban, arguing that the congressional decision is unconstitutional. In a filing ahead of oral arguments set for September 16th, TikTok also stressed that it spent $2 billion on Project Texas, its work to store data from U.S. users in the United States, to try and appease its critics.

TWiST500

We added a host of names to the TWiST500 this week, breaking down their business and backing this week in the newsletter. For next week, Alex ([email protected]) wants to know which edtech and tools (developer, designer) startups you are the most excited about. The show may pick up a suggestion or two from you, so make sure your voice is heard.

Don’t forget that the growing list of TWiST500 companies can be found here.

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This Week in Startups

E1969: Two talks from our recent Liquidity Summit. Hear from Sky Daton all about how eVTOLs may revolutionize travel. His session was entitled “Aviation Safety, Air Taxis and the Future of Flight.” Then a chat with Science Inc’s Mike Jones, who shared a riff entitled “Lessons in Brand Building.” If you were curious how Liquid Death became so big, this is the talk for you!

E1968: Jason and Alex discuss Nvidia's ascent to becoming the most valuable company and insights into Eli Lilly and the GLP-1 phenomenon. The conversation shifts to the future of telehealth and its evolving landscape. They also cover the FTC's lawsuit against Adobe and introduce new companies in the TWIST500!

E1967: Jason and Alex dug into how Google Maps handles design decisions, Bilt’s relationship with Wells Fargo, AI progress in both China and Japan, and AI regulation. The pair also took audience questions at the end of the show, and touched on how we might define AGI.

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