Welcome to the Tech Meme Right Home for Monday, September 11th, 2023. I'm Brian McCullough today.

The Instacard IPO is coming with a hell of a haircut. Meta is planning a big new LLC trained on its own stuff.

Some eye watering details on how much water

Chappie P.T uses.

If you don't do that AI tech,

that doesn't mean someone else won't and what tomorrow's

iPhone event says about Apple's high-end strategy.

Here's what you miss today in the world of tech.

They're coming. I believe both Clavio and Insta Card are beginning the road shows for their respective

IPOs today. But worth noting this, at the implied valuation, Clavio is looking to price

at it's a bit under $9 billion, so that would be slightly, slightly under the

valuation of their last venture capital round.

Meanwhile, according to filings, Instacart is looking to raise up to $660 million in its

IPO at an up to $.73 billion dollar valuation, which is a

significant haircut from their last private market valuation of $39 billion. So the

last time they raised money it was at a $39 billion.00. So the last time they raise money, it was at a $39 billion valuation and it is now down to 7.73 billion, whoa.

Which makes this interesting, quoting from Reuters.

In an unusual move,

Cornerstone investors have agreed to buy up to $400 million

worth of shares sold in the offering,

which would account for nearly two-thirds of the total proceeds

at the top end of the price range.

...