Techmeme is almost old enough to drink

Top News

• Techmeme at 20: The venerable tech news aggregator — which helps make your Daily TWiST Ticker possible — celebrates its 20th anniversary this week, prompting founder Gabe Rivera to reflect on the “absurd” consistency that has kept the site relevant to founders, industry insiders, curators like “This Week in Startups,” gadget fans, and others for the past two decades. He singles out for particular praise the “thriving tech press” that fills up the site with daily content.

• Tether preps for US business: The oft-maligned (sometimes on our show!) stablecoin issuer appointed Bo Hines as CEO for its new US business, and announced plans to open a headquarters in Charlotte, North Carolina. Now that The GENIUS Act has established a regulatory framework for stablecoins, Tether plans to head stateside and launch a new token known as USAT. (Tether’s USDT — the largest stablecoin by volume in the world — will continue to circulate in global markets, of course.) Hines was previously the executive director of Donald Trump’s Presidential Council of Advisors on Digital Assets, where he helped to develop the GENIUS Act and shepherded its progress through Washington.

• Rabois returns to Opendoor: The real estate platform’s co-founder Keith Rabois joined the board after hedge fund manager Eric Jackson and meme fans revived interest in the stock, pushing it up over 500% so far this year. (They also have a newly-minted CEO in Shopify vet Kaz Nejatian.) Rabois told CNBC this week that the company’s workforce has become bloated, suggesting that there are currently around 1,400 staffers and “we don’t need more than 200 of them.” He also reports that former CEO Eric Wu is back and joining him on the board.

TWiST500

It’s a big day for both of our TWiST 500 prediction markets!

First up, The Information and Business Insider both report that friend of the pod Polymarket is raising a new round of funding that could push its valuation upwards of $9-$10 billion. That’s a major jump from the $1 billion valuation it hit following that last funding round over the summer. The announcement, of course, comes as Polymarket is preparing for a greenlight to resume operating in the US, and just weeks after the president’s son Donald Trump Jr. joined the board and made a strategic investment through his firm, 1789 Capital.

The same Information report suggests that P-Market’s key rival, Kalshi, is close to raising its own new round at a $5 billion valuation, more than doubling the $2 billion valuation it scored mere months ago. Polymarket has long been out in front of Kalshi but that gap may be starting to narrow. In August alone, Polymarket showed around $1 billion in total activity, while Kalshi posted a robust volume of $875 million.

Not all the Kalshi headlines this week were as positive. The State of Massachusetts filed a lawsuit against the platform on Friday, claiming that it offers sports gambling without a state license. The platform’s contracts are currently regulated, by the Commodity Futures Trading Commission (CTFC). The company argues that, as the CTFC is a federal agency, its authority supersedes state regulators.

MA Attorney General Andrea Joy Campbell is not buying this, arguing in her brief that Kalshi brings in more cash from sports wagering than sportsbooks, and even betting apps like DraftKings and FanDuel, thus requiring them to obtain a license and adhere to local laws. The case could obviously have significant implications for Kalshi, Polymarket, and the entire prediction market space down the road. – Lon

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This Week in Startups

E2176: Alex returns for inside looks at two more up-and-coming TWiST 500 companies. First up, he talks with Kendrick Nguyen of Valor-backed Republic about making private markets more accessible to retail investors. Then it’s a chat with another Valor-backed founder, Mitesh Agrawal of Positron, about building custom chips for powering efficient, high-speed AI apps and queries. These are deep-dives into the mindsets of two fascinating founders that you won’t find anywhere else!

E2175 : Alex digs into the real-world rollout of AI agents: Paid.ai’s Manny Medina explains agent economics and value-based pricing. Then, iTruckr’s Camilo Ramirez shows agents booking loads and coordinating drivers. Lastly, Tenax’s Elise Myrans demos computer vision + drones that score a single home’s wildfire/flood risk for smarter underwriting. The show wraps with live office-hours on winning enterprise pilots without getting stuck in PoC purgatory.

E2174: It’s a special pre-recorded Friday TWiST. Jason, Alex, AND Lon open the show by following up the “KPop Demon Hunters” debacle. Sony Pictures’ CEO says the movie wouldn’t have been a theatrical hit and Netflix was the best home for it… But Jason isn’t buying it. PLUS Jason’s response to Lina Khan on The Bulwark podcast, his “two stock markets” theory, why Atlassian wanted to buy a browser company, Google’s anti-trust remedies, and MUCH MORE.

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Angel University is Back!

Jason and Mike Savino are hosting our next virtual Angel University workshop on Tuesday, October 7. Jason will share proven strategies he’s used to invest $200M+ in over 500 startups. Whether you’re new to angel investing or looking to sharpen your skills, this is your chance to learn directly from one of the most active angel investors in the world. Register now at angel.university!

Founder U is Coming to the MENA Region!

Our 12-week pre-accelerator—designed to help early-stage founders build and grow—kicks off this fall in Saudi Arabia. The first cohort launches in Riyadh on November 3rd, followed by in-person and virtual sessions throughout the program. Founders in MENA: this is your chance to turn your idea into a business and get world-class insights on building a successful startup. Apply today: https://mena.founder.university/

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Need a flexible living and working environment in San Francisco? This thoughtfully designed loft-style residence at 787 Bryant St., the heart of the vibrant SOMA district and the city’s creative hub, is now available for rent or purchase. Check the listing for more details.

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