Sequoia resigns from Citizen's board, IPO window opens, chaos at Dapper Labs | E1691

This Week in Startups

Jason Calacanis

Technology

4.2 • 1.4K Ratings

🗓️ 7 March 2023

⏱️ 78 minutes

🔗️ Recording | iTunes | RSS

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Summary

Jason is BACK with Molly to break down the news! They cover Sequoia leaving Citizen's board after passing on a "pay to play" round (5:46), two major companies reportedly going public in 2023: Instacart and ARM (27:11), and the recent turmoil at Dapper Labs (50:44).

(0:00) J+M tee up today's news show!

(2:25) Jason's back!

(5:46) Sequoia leaves the board of Citizen

(14:21) Squarespace - Use offer code TWIST to save 10% at https://Squarespace.com/TWIST

(15:51) How investors make the decision to pass on a "pay to play" round

(25:41) Contra - Get $500 off your first hire at https://contra.com/twist

(27:11) IPO window starts to open, Instacart prepares for IPO after big Q4

(35:42) Revelo - Get 20% off the first 3 months by mentioning TWIST at https://revelo.io/twist

(37:09) ARM prepares for IPO, reasons for CHIPS Act speed

(50:44) Chaos at Dapper Labs: reckless spending, securities lawsuit

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Transcript

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0:00.0	All right, everybody, welcome. It is Monday, Jason's back from Japan. He's mostly awake. We think
0:05.9	and put together a great show. You got it together for a great show. I don't know what time it is,
0:09.8	but I am a little jet lag. They got back from Japan. Great trip. And I saw this new story. I didn't
0:14.8	get to talk to Molly about it. So I thought we should talk about this FT story about Sequoia leaving
0:19.5	Citizens Board after electing to not participate in a pay to play around. So we'll talk all about
0:25.6	that dynamics and we'll speculate for 20 minutes or so on what the heck is going on there.
0:30.5	We just usually just know that going in. Yeah, let's expect. Then we're going to talk about the IPO
0:35.2	window. Maybe opening back up again in 2023 after a pretty more abundant 22 insta cart and
0:43.6	soft bank owned arm are both gearing up to go public. We're going to do a little compare and
0:48.7	contrast and break down those two businesses. Yeah, and very interesting to see insta cart and
0:53.8	their numbers, which were leaked perhaps, but they seem to be doing good. They seem to have
0:59.2	writing the ship as it were. And then Dapper Labs has a duo of stories. We're going to catch up
1:05.5	on the action by the Southern District of New York. A very serious office that doesn't take
1:12.8	actions lightly and they tend to take things to the mat. And so they are in a lawsuit with Dapper
1:18.7	Labs over the selling of NFTs. And then another story in the block describes some anonymous
1:26.6	current and former employees who are not happy with the CEO of her spending.
1:32.1	Love is spending. Maybe we're marketing expenses. What's the difference?
1:36.4	Rolling on PJs while you fire the little guy is always going to get you. It's always going to
1:40.6	get you some anonymous quotes in some sort of newspaper somewhere. Yeah, find out.
1:45.1	Gonna be great show. Stick with us. This week in startups is brought to you by Squarespace.
1:49.5	Turn your idea into a new website. Go to squarespace.com slash twist per a free trial. When you're ready
1:55.8	to launch, use offer code twist to save 10% off your first purchase of a website or domain.
	...

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