Technology doesn’t get a fuller circle than this

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Technological innovation is a cycle, especially in the protagonist-driven world of early-stage venture capital and the imitative nature of startups.

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Last proof? This week, Y Combinator announced the launch of YC, a platform where people can sort accelerator startups by industry, batch, and launch date to discover new products. The acclaimed accelerator that has seeded companies like Instacart, Coinbase, OpenSea and Dropbox invites users to vote on newly launched startups “to help them climb the leaderboard, try out product demos and learn about the founding team,” it said. blog post.


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If this sounds familiar, it’s because, in my opinion, Y Combinator is taking a not-so-subtle swipe at Product Hunt, a nearly decade-old platform that’s synonymous with new startup launches and feature announcements.

Y Combinator doesn’t necessarily agree with this characterization: the accelerator’s head of communications, Lindsey Amos, told me via email that “we encourage YC founders to launch on many platforms – from the YC catalog to Product Hunt to Hacker News to launch YC – to attract customers, investors and candidates.

The overlap is not insulated. While Y Combinator is running a Product Hunt, Product Hunt is looking for Andreessen Horowitz. Meanwhile, a16z is making his own Y Combinator. Not to mention, Product Hunt has investment capital from a16z and has previously gone through the Y Combinator accelerator.

The strategy is more than a patter, it’s a signal of what institutions think is important to offer these days (and why they’re starting to borrow from their neighbors for more than just sugar or a flood of deals).

For a full review, read my TechCrunch+ column. “YC creates Product Hunt, Product Hunt creates a16z, a16z creates YC.”

In the rest of this newsletter, we’ll talk about Coalition, Backstage Capital and Africa’s hot summer climate. As always, you can support me by forwarding this newsletter to a friend or follow me on twitter or subscribe to My blog.

Deal of the week

Coalition! Created by a quartet of female operators in the venture business, The Coalition is a network of funds that are trying to bring more diverse decision makers to the capitalization tables. The fund-network’s bi-directional approach helps the Coalition span multiple tracks: Founders can turn to the firm for capital or to the network for advice without further dilution. Beginning investors and advisors can approach the firm to begin building their portfolio, and LPs can invest in activities that increase diversity in the capitalization tables that are known to bring economic benefits.

Here’s why it’s important: Coalition co-founder Ashley Meyer, former VP of communications at Glossier, spoke a bit about the philosophy behind building the new company.

Mayer explained that she and her three co-founders saw the value of taking a “portfolio approach” to careers, basically delving into their respective roles as operators, as well as going into angel investing and eventually scout investing. Three of them had previously worked in the venture capital business but left because they lacked work experience. Now they are trying to scale a way that allows people to save their daily work and build further. Coalition co-founder and Cityblock Health founder Toyin Ajayi said that “as one of the few women of color leading a venture capital firm, I feel a deep responsibility to keep the door open for others.”

Coalition investors (left to right): Cityblock Health co-founder Toyin Ajayi, Tribe AI co-founder Jackie Nelson, Umbrella co-founder Lindsey Ullman, Glossier VP of Communications Ashley Mayer

Image Credits: Coalition

When do layoffs matter? Trick question – always

This week on stockwe were talking about Backstage Capital lays off most of its employees, weeks after suspending any investment in new startups. According to fund founder Arlan Hamilton, the workforce cuts that affected nine of Backstage Capital’s 12 employees were due to a lack of capital from limited partners.

Here’s why it’s important: Backstage Capital has invested in more than 200 startups created by historically undervalued entrepreneurs, while Hamleton herself has invested in more than two dozen venture capital funds. Despite the influence, no firm can be immune from the difficulties of venture capital (or growth in an environment full of macroeconomic and cultural obstacles). Below is an excerpt from my story.

Without more support, it becomes difficult to close the store for new investment, put more assets under management and raise more investment, Hamilton said.

“Someone asked me, ‘Why don’t you have more under management?'” she said during the podcast. “You have to ask these LPs, you have to ask these family offices, you have to ask these people who ask me, ‘What can I do for you,’ and I say, ‘Invest in our fund,’ and I never talk about them again.” hear.”

one chess pawn on the green raised platform and one on the lower pink platform.  startups and market downturns

Image Credits: Jordan Lai (Opens in a new window) / Getty Images

Africa goes its own way

Dominik-Madori Davis of TC and Tage Kene-Okafor wrote a story about how recession plays out in africaessentially answering why we should all be keeping an eye on activity on the continent this summer.

Here’s why it’s important: VC performance in Africa wasn’t so bad in the first quarter, but investors believe it could just be a delay in reporting. Experts say that if most deals are completed before high interest rates, war and inflation, we may soon see how the economic downturn will begin to affect emerging markets. History does not stop there; I would read more to see what Tiger Global tells us and as August promises to be a key month of movement.

Arrows on the African landscape up and down

Summer could decide the fate of the African financial landscape this year.

In a week

Seen on TechCrunch

Okay, whose rocket just hit the moon?

This Employee Doesn’t Exist: FBI Warns of Deepfakes in Tech Job Interviews

Former Wealthy NFT Buyers Have Fun Through Pain

Robinhood Nearly Explodes During GameStop Meme Warehouse Chaos

FTX says no active talks to buy Robinhood

Seen on TechCrunch+

Your Startup Presentation Needs an Operational Plan

3 questions for the startup market as we enter Q3

Unleash your Scope 3 emissions, you cowards

What is fintech worth today?

See you later,

H




Credit: techcrunch.com /

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