Amazon, Apple, Airbnb, Cloudflare earnings

Amazon Q2 earnings: revenue: $134.4B (+11% y/y), net income: $6.7B (up from $2B net loss last year), TTM FCF: $7.9B; ad revenue grew 22% y/y to $10.7B; shares were up 8%+ - Link

Airbnb Q2 earnings: revenue: $2.5B (+18% y/y), net income: $650M, FCF: $900M, nights and experiences booked: 115.1M (+11% y/y); shares were flat post earnings - Link

Apple Q3 earnings: revenue: $81.8B (-1.4% y/y), net income: $19.9B (+2.3% y/y), services revenue grew 8% to $21.2B; shares were down ~5% - Link

Cloudflare Q2 earnings: $308.5M (+32% y/y), net loss: $94.5M, FCF: $20M, shares were up ~7% after the company raised its guidance for H2 2023 - Link

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Varda CEO Delian Asparouhov and R&D head Andrew McCalip join Jason to break down their recent experiment in replicating the LK-99 room-temp superconductor (4:19), the current state of material science (18;52), what the world would look like if this works (26:34), and more. Then, Krepling’s Liam Gerada joins Jason for an update on his business! (40:46) - Link

Alphabet sold off large positions in Robinhood, 23andMe, and Duolingo in Q2, including dumping 90%+ of its stake in Robinhood - Link

CoreWeave, a startup offering cloud-based access to Nvidia GPUs, raised $2.3B in debt collateralized by its Nvidia chips - Link

Triller, a TikTok competitor that previously canceled a $5B SPAC in 2021 and a direct listing in 2022, has filed for an IPO; the company had $47.7M in revenue and a $195.6M net loss last year, with $2.2M in cash as of last quarter - Link

SoftBank is suing IRL founder Abraham Shafi, accusing the former CEO of defrauding investors by raising $150M of capital on fake user metrics - Link

This Week in Startups

E1788: LK-99 breakthrough with Varda’s Delian Asparouhov & Andrew McCalip

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Market dynamics, RIFs, and AI’s role in law with Becki DeGraw | Wilson Sonsini Startup Legal Basics

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