Balwani found guilty, Crypto crash updates, + Turkey’s rare earth discovery | E1502

This Week in Startups

Jason Calacanis

Technology

4.4 • 1.3K Ratings

🗓️ 8 July 2022

⏱️ 57 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

First, we cover some breaking news: Theranos ex-president Sunny Balwani has been found guilty of fraud (2:27). Then we dive into crypto: those responsible for the lack of crypto regulation in the US might also have significant crypto investments themselves, and the US is currently trying to change that (13:42). Then a big class-action lawsuit hits Solana and takes aim at VCs (23:09). But it's not all bad news, we cover the Turkish government claiming it just discovered almost 700M metric tons of rare earth materials (39:29). And finally, our startup of the day is a job board for warehouse workers (49:27)!

(0:00) Jason and Molly tee up today’s topics!

(2:27) Sunny Balwani found guilty of fraud

(12:26) Microsoft for Startups Hub - Apply in 5 minutes, no funding required, sign up at http://aka.ms/thisweekinstartups

(13:42) US officials that invest in crypto can’t work on crypto-related policies and regulation that could affect the value of their assets

(21:42) Masterworks - Skip the waitlist to invest in art using promo code TWIST at https://Masterworks.io/twist

(23:09) Key players in the Solana ecosystem are being accused of illegally profiting off the blockchain’s token SOL

(36:05) Crypto firm Uprise lost 99% of customer funds trying to short LUNA tokens during the Terra/Luna collapse last month

(38:12) Lemon.io - Get 15% off your first 4 weeks of developer time at https://Lemon.io/twist

(39:29) The Turkish government is claiming it just discovered almost 700M metric tons of rare earth materials

(49:27) SotD: Traba has a job board that helps entry-level workers find shifts at fulfillment centers and event venues

(53:41) Outro + Plugs!

Transcript

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0:00.0	Hey, everybody. Hey, everybody. Welcome back Molly. She's back. Thanks for holding down the
0:04.5	fort partner. Appreciate you. No problem. It is Thursday. I am back in time for a bunch of
0:10.0	news because whatever day it is, you know, there's a lot of news. It's actually breaking news
0:14.1	as we started writing the rundown and getting ready to record today, which is Theranos
0:20.0	ex-president Sonny Balwani has been found guilty of fraud. And speaking of fraud, we're going to
0:26.4	then drive into crypto. Note the people in charge of crypto regulations in the US might have to
0:33.9	forego crypto investing themselves. The US is, you know, creating some more regulations after,
0:40.3	you know, all of this crazy dismantling and crypto contagion seems like the US government is
0:45.2	going to finally step in. What a concept. What a concept. Maybe a little less self-dealing
0:51.4	and government. And there's a big lawsuit aiming to become a class action lawsuit against Solana.
0:58.2	Taking aim at B.C.'s and some of that inside of the multi-dealing. Yes, this is something we've
1:04.4	talked about. It's a multi-coin fund. And we're going to do a start-up of the day for warehouse
1:08.8	workers. Very cool. It's going to be a great show. Stick with us. This week in startups is brought
1:14.4	to you by Microsoft for startups founders hub for the challenges you face as a startup founder.
1:21.5	Microsoft for startups founders hub is here to help. The platform provides founders with free
1:27.6	resources like Azure credits, development tools like GitHub, mentorship resources,
1:34.0	productivity software, training, and so much more. The program is open to all and takes five
1:40.8	minutes to apply with no funding required. Learn more and sign up at aka.ms slash this week in startups.
1:51.7	Masterworks. Masterworks is the first company allowing investors exposure into the blue chip
1:58.5	artwork asset class. Twist listeners can skip the 30,000-person wait list by going to masterworks.io
2:06.8	and using promo code twist. And lemon.io. Need to speed up your product development without
2:14.9	draining your budget. Higher vetted engineers from Europe at lemon.io. Go to lemon.io slash twist
	...

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