Substack rolls out Notes, MilkRun shuts down, Tonal CEO steps down

Substack rolled out its Twitter-like Notes product to all users after traffic to Substack was throttled by Twitter last week - Link

MilkRun, a Sydney-based instant-delivery service, has decided to shut down; the startup raised a $75M Series A led by Tiger Global last year - Link

Aly Orady has stepped down as Tonal's CEO and will resume the role of CTO, with current President Krystal Zell taking over as CEO - Link

Bloomberg sources: The Winklevoss twins loaned $100M of their own funds to their crypto exchange Gemini after failing to raise capital; crypto VC funding dropped 80% y/y in Q1 - Link

Former GoFundMe CEO Rob Solomon has co-founded Kite, a startup focused on investing in, acquiring, and operating digital-first CPG brands; Kite raised $200M from Juxtapose and Blackstone in 2022 - Link

LinkedIn Marketing. To redeem a $100 LinkedIn ad credit and launch your first campaign, visit LinkedIn.com/thisweekinstartups.

The man behind the anonymous accounts "prayingforexits" on Instagram and "@mrexits" on Twitter joins Jason for a jam-packed episode. Topics covered: what founders can learn from Logan Roy (2:29), what recent ZIRP fraudsters have in common (21:39), where GPT-4 ranks in terms of revolutionary product launches (31:28), AI's impact moving forward, the state of VC (1:02:29), and so much more! - Link

AlphaSense, a market intelligence firm, raised $100M at a $1.8B valuation led by CapitalG, Alphabet's growth-stage arm; a portion of the capital will go towards integrating LLMs into its platform - Link

Clear Street, a fintech startup building modern financial infrastructure for institutions, raised a $270M Series B at a $2B valuation led by Prysm Capital - Link

YouTube released prices for NFL Sunday Ticket, ranging from $249 to $489; the company paid $2B/year for streaming rights - Link

This Week in Startups

E1717: Praying For Exits on the state of VC, ZIRP fraudsters, revolutionary product launches & more

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

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