Elon says Substack was trying to download a portion of Twitter's database, SenseTime debuts AI-suite

On Saturday, Twitter CEO Elon Musk said his company throttled traffic to Substack because the newsletter startup was trying to download a significant portion of Twitter's database for its new "Substack Notes" product - Link

SenseTime, a China-based tech company, debuted a suite of new AI products, including an AI chatbot, an image-processing tool, a video-generation tool, and a service that renders 3D buildings - Link

Foundry, a DCG-owned crypto mining firm, will end its zero-fee Bitcoin mining service and start charging users; Foundry's pricing strategy helped it become the world's largest Bitcoin mining pool by compute power - Link

Eclipse Ventures, a VC firm focused on investing in startups trying to “modernize physical industries,” raised two new funds totaling $1.2B in value, bringing its total AUM to $4B - Link

Compliance and security shouldn't be a deal-breaker for startups to win new business. Vanta makes it easy for companies to get a SOC 2 report fast. TWiST listeners can get $1,000 off for a limited time at vanta.com/twist.

Jason breaks down the valuation tension surrounding YC demo days (2:36), how to get better prices on YC-equivalent startups (8:59), Garry Tan's response to complaints (15:18), and more! Then, Jason reacts to a law firm's leaked expectations list that went viral (29:29) before wrapping with some thoughts about Substack (41:59). - Link

WSJ sources: Since the collapse of Silvergate and Signature Bank, Binance has struggled to find a banking partner for US customer deposits - Link

South Korean Prosecutors uncovered ~$314M in “illicit assets” connected to Do Kwon and his associates that mainly were converted from LUNA to Bitcoin; $69M were linked directly to Kwon, and none of those assets are recoverable or under the jurisdiction of SK authorities - Link

In Q1, global Mac shipments dropped 40.5% y/y to 4.1M; companies such as Lenovo and HP also saw declines of 30.3% and 24.2%, respectively - Link

Lemon8, an Instagram-like app created by TikTok-maker ByteDance, has amassed 650K installs in the US over the past week and a half, and 17M downloads worldwide - Link

This Week in Startups

E1716: YC demo day valuation tensions, how VCs can find gems, Substack's performance & more

E1715: Satya Patel on the state of VC, flexible investing frameworks & converting to evergreen

E1714: Startup pitch competition: Jason invests $25K

E1713: Saudi Arabia discloses LP positions & SEC charges Frank founder with fraud

E1712: Trump, Saudi, & Adam Neumann’s obsession with cities + BioFluff CEO Martin Stübler

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