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Sometimes it’s hard to remember that, as a startup founder, you have influence over aspects of your business that you wouldn’t have if you were a cog in a giant machine somewhere. At one of my previous companies, we went out of our way to make sure our packaging was completely biodegradable, but still a lot of fun. In another case, we ensured that all of our server usage was carbon offset. In the third session, we conducted regular stand-ups and brainstormed to figure out how we can have less of an impact on our planet.
All of this is to say: As a startup founder, you have a nice luxury. You are the master of your destiny, and your passions and interests should be those of your startup. The opposite is also true: if you don’t care about climate change, diversity, or equality, your company as a whole is unlikely to make these topics a priority.
One way this plays out for me is that, even if you have money to spend, it’s really hard to find quality products that will last you a lifetime. Sam Vimes’ “shoes” theory of social and economic injustice, often called simply “shoes theory” popularized by Terry Pratchett in the Discworld series, speaks to this. And in my column this week, All Products Are Bullshit, and for good reason, I continue my philosophical meandering to see how this might apply to startups as well.
In other news, this caused some nervous laughter in the TechCrunch newsroom because Axios got a cosmic upgrade, but I respect a good scoop, and so on I reluctantly associate our arch enemy with covering up our leadership change. Of course, we wrote some of it ourselves, too: Panzer’s retrospective of his decade in the big chair at TechCrunch, and Cooney’s cigar-inducing reception of his proverbial editing stick.
Roll up! Roll up!
Image credits: Pixabay (Opens in a new window) under CC0 (Opens in a new window) license.
Mergers and acquisitions are an important part of the startup ecosystem: acquisitions are one of two ways (the other is an IPO) through which startups can have a liquidity event, or “exit,” as they are often called. It’s very rare for a startup to go on a buying spree of 80, but that’s the phenomenon our new editor-in-chief Connie discovered this week.
Regarding IPOs, we have the first IPO of a big tech company this year, and Alex and Mary Ann took a deep dive into Instacart’s S-1 document to see what they can learn. (Tech+)
Another recent large public listing was Better.com, which went public through a SPAC. Things did not go well, and the stock saw a sharp decline.
Big Tours is in trouble: Anna and Alex take a look at the new valuation criteria and explore how quickly the market will contract in the final stretch this year. In short: The startup market is collapsing, but maybe that’s okay?
Angel investing on an industrial scale: The Hustle Fund has been around for a hot minute; It is doubling down on its mission of building “YC Angel Investing.”
Prepare for battle: Disrupt is right around the corner, and this week, Neesha finally revealed the Startup Battlefield 200 companies that will be participating in TechCrunch Disrupt 2023.
Let’s talk about fundraising
![](https://techcrunch.com/wp-content/uploads/2021/06/GettyImages-95709411.jpg)
Image credits: Road warrior (Opens in a new window) / Getty Images
Fundraising is always a challenge for startups, and it’s one of the topics I spend almost all of my time on. This week we’ve seen a huge increase in interest in fundraising-related articles, so there may be a lot of startups gearing up for the fundraising season that starts right after Labor Day. what’s going? I’ve taken a look at five trends in venture capital funding for pre-seed startups.
One of the most read articles on TC+ this week was my article: Never Express Your “Use of Funds” Segment as Percentages. It’s one of the things you need to keep in mind when you’re trying to explain what you’re going to do with this new money you’re about to raise. The “use of funds” segment is the part of the narrative that almost every founder gets wrong. Another thing founders fail at is looking at fundraising as a runway opening. That’s true, but honestly, no one cares about your runway: If you can achieve your goals in eight to nine months instead of 18, that’s fine. If you need two years to achieve your goals, that’s okay too (as long as you don’t run out of money along the way). In short: it’s all about the landmarks.
And by the way, if you’re into fundraising, TechCrunch has an amazing, in-depth guide to almost every aspect of building a deck and pitching to investors. You do need a TC+ subscription, but honestly, it’s the best $99 you’ll ever spend. Oh my gosh, even though I write for TC+ and could probably get a free subscription, I pay for my own subscription, that’s how much I love it.
Here are some other things you can take with you on your fundraising journey:
Order matters: But there is no such thing as a standard arrangement for your slides. Here’s how to prioritize and think about the right order of slides for you story.
Complete your marketing story: Founders, “We haven’t spent a dime on marketing” is not the brag you think it is.
Think about your last impression: First impressions are important, but it’s good to remember that you have the opportunity to leave a parting gift as well. Make it count.
The devices return to the lights
![DJ robot](https://techcrunch.com/wp-content/uploads/2023/08/GettyImages-1192723260-e1691493326790.jpg)
DJ robot. Image credits: Getty Images/Zinkevich
If you’re the type of person who marks your calendar for when the new iPhone is announced, it’s September 12: iPhone 15 will be coming to your pockets nearby in just two weeks. Maybe we will finally Get USB-C charging too, after it was left out of the iPhone 14 specs, much to my constant dismay. Pixel fans will have to wait an additional three weeks or so: Google’s Pixel 8 event is set for October 4.
Audeze makes high-quality headsets for gaming and audio production, and it appears Sony’s PlayStation division has taken note: Sony is buying Audeze, the company confirmed to Brian this week. Sony has also been in the news for finally creating its $200 portable internal PlayStation Portal, after a few false starts.
Sure, you can open our tools: Brian reported that Apple is providing support for California’s Right to Repair bill, and wrote a letter to California State Senator Susan Talamantes Eggman, including “Apple supports California’s Right to Repair Act so that all Californians will have greater access To reforms while also protecting their safety, security, and privacy.”
Welcome to retirement – this is the robot companion for youElliQ is a home office robot designed to serve as a kind of robotic companion for elderly users. The company behind the friendly-looking companion just raised another $25 million in funding.
Walmart succeeds where Amazon fails: Amazon continues to stumble in its attempts at drone delivery, so Walmart is no doubt doing a smugly little victory dance as it adds drone deliveries to some larger stores this year.
Top 3 reads on TechCrunch this week
Another Indian rhinoceros: Manish reports that Zepto has become India’s first unicorn of 2023 with new funding of $200 million.
Moar’s face hugs the dollarsBelieve me, this title is strange to everyone. However, Hugging Face is raising $235 million from investors, including Salesforce and Nvidia.
Set the alarm, we’re going on a trip: Flight prices fluctuate throughout the day and week, and Google Flights will now tell you the cheapest time to book.
Get your ticket to TC Disrupt 2023
Join 10,000 San Francisco startup leaders at TechCrunch Disrupt on September 19-21. Last minute passes are still available. Save 15% with code STARTUPS. Register now!