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All eyes on Big Tech AI as investors hunt secondary stakes and crypto VC rises again

Author

Alex Wilhelm
June 14, 2024 • Estimated Reading Time: 4 minutes

Top News

  • All eyes on Big Tech AI: As Apple makes noise to assuage concerns about consumer data privacy and looks to bring AI to its host of software platforms, Microsoft is retreating from its Windows Recall feature that sparked consumer privacy concerns.

  • Secondaries are hot: TechCrunch reports that StepStone’s massive new $3.3 billion fund earmarked for investing is worth $700 million more than its last. That means the massive asset manager has ample cash to buy single stakes in startups or buy out entire LPs. StepStone is not alone. The FT reports that Lightspeed is applying to become a registered investment adviser to buy more secondary stakes.

  • Crypto VC is far from dead: The era of multi-billion dollar crypto venture funds may be behind us, but the biggest names in Web3 dealmaking can still get their hands on big checks. Paradigm is proof of that, putting together an $850 million fund, it announced this week. Its preceding fund was worth several billion.

TWiST500

Alex here. The TWiST500 is off to a great start. Jason and I added companies twice to the list this week, digging into the startups we most expect to go public on Wednesday. The current database of TWiST500 companies can be found here.

Now, I have a request for you: Please email [email protected] with the space and gaming startups that you are the most excited about so that I can expand the number of companies I am tracking. We want the TWiST500 to be the most complete, useful, and accurate startup list. Hit me up! — Alex

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This Week in Startups

E1966: What is Unreasonable Hospitality? Former hospitality boss Will Guidara came on the pod to chat with Jason about what he learned from getting his former restaurant to the number one spot in the world. He learned a lot about customer and staff care, much of which can be applied directly to founders and startups.

E1965: Jason and Alex dug into Waymo’s self-driving update for its hundreds of robotaxis, how much more Apple is worth thanks to its AI news, the good news on inflation and rates for startups, and finally, the startups expected to list next.

E1964: Following Apple’s massive AI download at 2024’s WWDC, Jason and Alex discuss Apple Intelligence, Siri’s upgrades, why the company’s deal with OpenAI is so interesting, and more. Consumer AI is heating up!

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