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Andreessen’s Call, A Best Buy Bonanza, Palantir’s Big Reveal

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Y Combinator, which trains and invests in startup founders, has been intent on expanding the geographic diversity of the companies it includes in its twice-yearly accelerator program. But this summer’s group of participants was particularly far flung. 

One co-founder who spoke to Kate for her story on Michael Seibel, CEO of YC’s startup accelerator, called from Oahu. Another pair of founders tuned in from their homes in Chandigarh, India. Altogether, the 220 graduates hailed from more than 25 countries, and many planned to operate remotely. Such physical dispersion partly stemmed from the pandemic, which led YC to hold its first fully remote-only program.

Yet the idea that the next generation of founders would come from outside Silicon Valley was gaining traction before the pandemic, driving aspiring founders and investors to put down roots in Atlanta, Columbus, Ohio and other cities. The shelter-in-place mandates, which prompted employers like Facebook to talk about extended “work from anywhere,” gave the trend momentum. Encouraging high-paid tech workers to relocate and backing founders in other cities has a twin appeal, spreading tech’s wealth—and relieving pressure on the region’s housing and transportation. 

Many Silicon Valley leaders, however, have maintained that there’s value in proximity to the region’s investors, mentors and potential hires. At YC’s demo day, it was Marc Andreessen—the Netscape and Andreessen Horowitz co-founder—who gave voice to that view. He encouraged the entrepreneurs to consider setting up their headquarters in the San Francisco Bay Area, extolling its place as a center of innovation, according to two founders. It would be interesting to find out how many of YC’s batch of graduates heed his call.  — Laura Mandaro

Source: https://www.theinformation.com/articles/andreessens-call-a-best-buy-bonanza-palantirs-big-reveal

Venture Capital

Next Week’s Earnings Traffic Jam: The Information’s Tech Briefing

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It may be hard to believe, but next week is the last week before the election. Perhaps for that reason, the five big tech firms all decided to release their September quarter profit details next week. That’s fine, except that four of them—Amazon, Alphabet, Apple and Facebook—decided to do it on the same day, Thursday, at about the same time.

Twitter is also reporting that day. So expect a traffic jam of earnings reports on Thursday. But don’t worry, we’ve got your covered: Read down for details on what’s expected for each.

Next week will have other big tech news: On Wednesday, Twitter’s Jack Dorsey, Facebook’s Mark Zuckerberg and Alphabet’s Sundar Pichai will appear before a Senate committee examining “whether Section 230 of the Communications Decency Act has outlived its usefulness.” Expect some fireworks from that hearing!

Source: https://www.theinformation.com/articles/next-weeks-earnings-traffic-jam-the-informations-tech-briefing

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Private Equity

Boston startups expand region’s venture capital footprint

This year has shaken up venture capital, turning a hot early start to 2020 into a glacial period permeated with fear during the early days of COVID-19. That ice quickly melted as venture capitalists discovered that demand for software and other services that startups provide was accelerating, pushing many young tech companies back into growth […]

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This year has shaken up venture capital, turning a hot early start to 2020 into a glacial period permeated with fear during the early days of COVID-19. That ice quickly melted as venture capitalists discovered that demand for software and other services that startups provide was accelerating, pushing many young tech companies back into growth mode, and investors back into the check-writing arena.

Boston has been an exemplar of the trend, with early pandemic caution dissolving into rapid-fire dealmaking as summer rolled into fall.

We collated new data that underscores the trend, showing that Boston’s third quarter looks very solid compared to its peer groups, and leads greater New England’s share of American venture capital higher during the three-month period.

For our October look at Boston and its startup scene, let’s get into the data and then understand how a new cohort of founders is cropping up among the city’s educational network.

A strong Q3, a strong 2020

Boston’s third quarter was strong, effectively matching the capital raised in New York City during the three-month period. As we head into the fourth quarter, it appears that the silver medal in American startup ecosystems is up for grabs based on what happens in Q4.

Boston could start 2021 as the number-two place to raise venture capital in the country. Or New York City could pip it at the finish line. Let’s check the numbers.

According to PitchBook data shared with TechCrunch, the metro Boston area raised $4.34 billion in venture capital during the third quarter. New York City and its metro area managed $4.45 billion during the same time period, an effective tie. Los Angeles and its own metro area managed just $3.90 billion.

In 2020 the numbers tilt in Boston’s favor, with the city and surrounding area collecting $12.83 billion in venture capital. New York City came in second through Q3, with $12.30 billion in venture capital. Los Angeles was a distant third at $8.66 billion for the year through Q3.

Source: https://techcrunch.com/2020/10/23/boston-startups-expand-regions-venture-capital-footprint/

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Venture Capital

The Information’s 411 — Quibi, We Hardly Knew Ye

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Source: https://www.theinformation.com/articles/the-informations-411-quibi-we-hardly-knew-ye

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