![]() ![]() Whether it was just a publicity stunt for an indebted Japanese investor and an ambitious prince was one. (Image via Founders Collective)Ī $100B Saudi marriage.The Softbank-Saudi deal to launch one of the world’s biggest tech funds last week caused a few ripples. But then again, since MENA's largest raising has been sub-$1 billion from Careem, these are numbers to think about for the future, not the present. The correlation suggests (remember - correlation does not mean confirmation) that the less venture money you raise the better you do post-IPO. We’re not saying venture capital is not essential at the right time, but we are saying that aiming to be a unicorn is not the right goal. MENA is yet to see any big IPOs by its most charmed startups, but this study of 71 of the best performing companies in the US raises an interesting point: raising less venture capital while private correlated with public success. Raising a cool $1B doesn’t mean you’re all that.Being well capitalized - that is taking on a pile of VC money - does not mean your startup will make it in the long term. The angel in this story has some advice for entrepreneurs: to extract that value from your angels, let them know how you’re doing. You presumably brought them in because you thought they’d be useful for more than just the money. Have you called your angel lately?They want to hear from you, they’d love a call, maybe just an email? A one-second Snapchat? To make the most from your angel investors you’ve got to actually talk to them. Boy in easteran Baghdad, Iraq holding cell phone during a school ceremony. This time it’s fintech, a sector that’s proved time and again that ideas from countries in the most need make the biggest impact. When it comes to entrepreneurialism, Iraq always provides little snapshots of a people who, despite years of crushing circumstance, are still keen to give things a go (there’s Nawres Arif in Basra and a food startup revival in Baghdad). Wamda of the week: War in the north, fintech in the south. ![]() So the lesson is, when someone says they have the next best thing, back away, slowly. Experimental batteries have a tendency to blow up in their makers’ faces once out of the lab (see here, here and this most excellent book). Scientists are also side-eyeing outrageous claims like these guys are making about the same kind of graphene storage system. Unfortunately, we’ve not been able to find any evidence of this battery being used outside a lab. Fisker Karma - an alleged Telsa/Nissan competitor, is being hyped (again) for not only a comeback but also bringing in a super amazing battery that will blow your mind. This is a long read, but it did make us aware of just how much time was spent on Facebook and Slack in the making of this article.īatteries are an even bigger hype-generator than startups. But one man in the Valley is pushing back with a “Hippocratic oath” for software, to encourage ethical app making. Tech companies spend billions on breaking down your self-control and feeding an addiction. Your Facebook is the salt to my sugary Twitter.Binge checking apps is not your fault. Here’s our wrap of what we’re reading on money, loads of money, how we are addicted to social media (yes, newsflash) and batteries. The world of entrepreneurship news is a complex one, with people ever ready to give their two cents on how you should be running your business/VC fund/incubator.
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