May 23, 2022

The sidewalk on University Avenue in Palo Alto was once a great place to do business.

For decades, there have been neighborhoods where angels and venture capital partners camped at cafe tables and wrote names among lattes. However, the pandemic put an end to that.

When you have a chance to sell your idea to an investor these days, it’s more likely to be a video call than a croissant or shawarma.

This new presentation model poses a new challenge for founders, “given the number of calls investors make each day,” said Flint Capital partner Andrew Gershfeld, whose company views “about 1,500 online presentations a year.”

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To reduce the noise, he recommends that founders create “teaser trailers” and share them with their networks before you start contacting angels and venture capitalists. Not a full deck, but an ornate elevator presentation designed to whet investors’ appetites before a full meal is served.

“Because we don’t have the same opportunities as face-to-face meetings, the founders can attract the attention of investors in this way,” says Gershfeld.

His post outlines the main elements of a teaser trailer and a template for structuring the presentation “for the best effect.” It is surprisingly wide.

I sympathize with Palo Alto café owners, but remote presentation is a skill every founder needs and an effective way to level the playing field when it comes to fundraising. Start here.

Good weekend,

Walter Thompson
Senior Editor gaming-updates+
@your hero

April 5 Twitter Space: “How to Present Me” with Arvind Gupta.

On Tuesday, April 5 at 2:30 pm PT, I will host Twitter Space With Arvin Gupta, partner at the Mayfield Fund.

We will discuss general promotion strategies and talk about what he is looking for right now, so please before answering questions from the audience. Click here to set a reminder so you can join the conversation.

5 Things Aspiring Founders Should Remember When Working With Venture Capitalists

An image of a yellow envelope with a red notice dot.

image credit: Carol Yepes (Opens in a new window) / Getty Images

There’s nothing like an experience, which is why we’re excited to publish this article written by Zach DeWitt, winner of the 2013 gaming-updates Meetup and Pitch-Off.

DeWitt, who became a venture capitalist after selling Drop, Inc. on Snapchat in 2016 shares five important lessons for aspiring founders who wander the woods in search of an investor who will be a “true partner”.

There is a natural power imbalance when you ask a stranger for money, but “VCs have to work to earn your trust,” writes DeWitt.

“In many ways, it’s like finding the right partner.”

Why Nigeria is at the forefront of YC involvement in Africa

YC Demo Day Winter 2022

image credit: Bale of vanity

With 18 of the 24 African startups at Y Combinator Winter 2022 coming from Nigeria, the country is showing the depth and breadth of its engineering talent.

In a carefully crafted report, Tge Kene-Okafor explores how factors such as YC’s remoteness, heightened investor interest, and relationships with previous Nigerian YC alumni have fueled this vibrant ecosystem in many other tech markets this year. accelerator. ,

Bitcoin Miners Evacuate Kentucky Coal Towns Spurred by State Tax Relief

Image of a man walking on the wall of a bitcoin mining rig

image credit: Lars Haberg/AFP (Opens in a new window) / Getty Images

To extract fuel hundreds of feet below, the coal industry has altered the landscape of Kentucky, leveling entire mountaintops and using the waste to fill streams and canyons.

But with declining demand for coal coupled with a shift in utilities to clean energy sources, the state is using incentives to attract bitcoin miners, according to Jacqueline Melinek.

She writes that by 2022, Kentucky will represent “18.7% of the total bitcoin hash rate in the United States.”

Today, bitcoin miners are opening stores in abandoned factories, warehouses and, of course, former coal mines around Kentucky to use the electricity generated by the coal to power their rigs.

“Bitcoin miners are energy buyers of last resort,” said Nick Hansen, CEO of Bitcoin hashrate management platform Luxor.

“They buy all the energy at a certain price and they can do that when the internet is available.”

Our Favorite Startups at YC Winter 2022 Demo Day Part 1

YC Demo of the Day Featured

image credit: Vanity Bale / Bryce Durbin

This year, 414 startups from 42 countries in over 80 industries participated in the Y Combinator Winter 2022 Demo Day.

There are too many companies to consider, but in keeping with gaming-updates tradition, Alex Wilhelm, Natasha Mascarenhas, Devin Koldavi, Kristin Hall, and Mary Ann Azevedo list their favorite startups from day one.

Our Favorite Startups from the YC Winter 2022 Demo Day Part 2

YC Demo of the Day Featured

image credit: Vanity Bale / Bryce Durbin

The second day of the W22 Y Combinator revealed several trends: many startups building for the Southeast Asian market, fintech still leading the way, Nigerian startups falling short and India doing well again.

At the end of our review, Christine Hall, Alex Wilhelm, Devin Caldway, and Mary Ann Azevedo have chosen to review a few companies from the startups presented today.

The DAO is optimistic about new use cases for a token-based democratic future despite the limitations of the tools.

Image of a hand putting a speech bubble into a white piggy bank on a purple background.

image credit: Boris Zitkov (Opens in a new window) / Getty Images

Many online communities are turning to decentralized autonomous organizations (DAOs) for fundraising so they can bring their ideas to life, but without tools and software to make it easier for people to get involved, adoption has been slow.

However, some investors and consumers expect that as tools mature, DAOs will generate more use cases than individuals pooling their resources to buy NFTs or popular commodities, according to Jacqueline Melinek.

“There will be big growth” [for DAOs] As we begin to infuse technology into human behavior,” said Sarah Wood, Head of Operations at Upstream. “I see a world where you can use The DAO for your book club or whatever.”

Dear Sophie! What can we do to help workers who are citizens of Ukraine?

A lone figure at the entrance to the Hedge Labyrinth with an American flag in the middle

image credit: Bryce Durbin / gaming-updates

dear Sophie,

We have many employees who are citizens of Ukraine; One on the OPT and one on the OPT for voting. We want to make sure they can continue to live and work in the United States.

Our biggest concern is the F-1 student whose OPT status expires in June. We entered him into this year’s H-1B draw and expect him to be selected this week.

Now we learn that Ukrainians are eligible for TPS. Does this also apply to OPT F-1 students? Will our other Ukrainian employees also have to apply for TPS even though their work visas are still valid for a few more years?

What is the application process for TPS?

– strong followers

Goldman Sachs OTC Bitcoin Options Trading May Paving the Way for More Institutional Engagement

Screenshot of a trading post on the floor of the New York Stock Exchange intersecting with the Goldman Sachs booth.

Image credit: Richard Drew/AP

Goldman Sachs has been in crypto for some time now, but last week’s bitcoin options trading may have paved the way for more institutional investment firms to explore the crypto ecosystem in anticipation of regulatory clarity, according to Jacqueline Melinek.

Tim Grant, Head of Europe at Galaxy Digital, said: “Trading on its own doesn’t make sense, but the fact that it happened and being able to trade that risk is very important to Goldman Sachs and this is just the beginning.”

“Once you get to that part, you are intellectually and functionally free to do other things. This is not a business in itself, it will allow us to move in many directions.”

Methods and reasons for attracting OT collateral capital

HTML code on a computer screen with a padlock in hand and in the background

image credit: SOPA images (Opens in a new window) / Getty Images

Operational technologies that enable critical infrastructure to operate 24/7 are an area that faces significant cybersecurity risks, and as the US government takes steps to mitigate the threat, the security companies they target will benefit the most, writes Matt. . Insight Partner.

In a guest post for TC+, he explains how recent attacks on critical infrastructure, pending regulations, and growing concerns about Russian cyberattacks are opening up new opportunities in OT.

“This is a good time for OT security vendors to get funding,” Gatto said. “The financial hype is fueled by a combination of growing cyberattacks on OT and increased government regulation.”

Co-founder of Ukrainian startup Delfast talks about overcoming the crisis

Daniil Tonkopi and Sergey Denisenko, co-founders of Delfast

image credit: Bryce Durbin

Delfast, founded in 2014, has offices in Los Angeles and Kyiv.

But after Russia invaded Ukraine, co-founders Daniel Tonkopi and Sergey Denisenko began relocating relatives and employees, finding ways to keep their country safe and “run a startup during a war,” reports Rebecca Belan.

Daniel Toncopy:

Now we all work in two shifts. The first shift is our regular work and the second shift is our volunteer work. Half of our engineers in Kyiv are at war now. They’re in the Territorial Defense Force, sort of like the official civilian army.

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