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Extra Crunch Tuesday: 9 top VCs discuss the future of New York startups

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Tuesday, June 23, 2020 By Walter Thompson

Welcome to Extra Crunch Tuesday

Welcome to Extra Crunch Tuesday image

Image Credits: Nigel Sussman

After New York City became a hotspot for COVID-19, many departed.

Some hoped to reduce their risk of infection, but for a substantial number, sheltering in place for weeks demonstrated that their “only in New York” jobs could be done from anywhere with a reliable internet connection.

With the shift to remote work, many companies are re-evaluating the need to maintain their pre-COVID-19 footprint in NYC, but, as one investor told us, “don't bet against the Big Apple.”

As a global financial center, media mecca and perhaps America’s most international city, it will always be a magnet for dreamers like entrepreneurs and investors. But how will this startup hub change in the near future?

For some insights, we surveyed nine top NYC investors:

  • Eric Hippeau, Lerer Hippeau
  • Chad Anderson, Space Capital
  • Nihal Mehta, Eniac Ventures
  • David Levinson, AF Ventures (formerly AccelFoods)
  • Hans Morris, Nyca Partners
  • Matt Turck, FirstMark
  • Zach Aarons, MetaProp
  • Andrew Ive, Big Idea Ventures
  • Andrew Ackerman, urbantech, Dreamit Ventures

We strive to present a broad range of voices in our investor surveys, but we sometimes fall short. All of the respondents in this survey are men.


TechCrunch has four questions, and we need your help to get the answers:

  1. Who actively writes checks?
  2. Who is a leader in a specific market or vertical?
  3. Who has the conviction to underwrite pathbreaking investments?
  4. Who do you want to have by your side for the next decade as your startup grows?

We’re collecting data for The TechCrunch List, which will identify investors in 22 verticals who are at the front of the line when it comes to funding. These “first check” investors catalyze deals and get the ball rolling for every startup.

If you’re a founder who wants to help, use this form to submit your on-the-record endorsement.

Thanks for reading — have a great week.

 

Walter Thompson
Senior Editor, TechCrunch
@yourprotagonist

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Amidst Robinhood's planned service changes, a tension between growth and safety

Amidst Robinhood's planned service changes, a tension between growth and safety image

Image Credits: Nigel Sussman

Fintech unicorn Robinhood is valued at more than $8 billion after driving growth in its no-fee trading platform.

In Q1 2020, it reportedly earned almost $100 million in fees for stock and options order flow. By comparison, in all of 2018, that part of its business generated $69 million.

But after a customer died by suicide after mistakenly thinking he had a negative balance of $730,000, the company announced it would change its user interface by “adding detail to the in-app history page to help users understand the mechanics of early options assignments.”

Depending on what form these changes take, it could impact revenue; Alex Wilhelm looks at how enhancing platform safety might impact Robinhood’s bottom line.

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Join Inspired Capital's Alexa von Tobel for a live Q&A on June 25 at 2pm EDT/11 AM PDT

Sponsored by TechCrunch

von Tobel will discuss remote deal-making, seed and Series A investing and the new metrics she's watching; bring your questions!

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A reading guide to Reliance Jio, the most important tech company in the world

A reading guide to Reliance Jio, the most important tech company in the world image

Image Credits: Sanjit Das / Bloomberg / Getty Images

After raising $15.5 billion from private equity, sovereign wealth funds and a health chunk from Facebook, Indian telecom giant Reliance Jo Platforms has been top of mind in recent weeks.

Now that Chairman Mukesh Ambani — also the company’s largest shareholder — has announced plans to take the company public in the next five years, Arman Tabatabai and Manish Singh put together “a supplemental list of resources and readings that we believe are particularly helpful for learning the story of Jio.”

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This Week in Apps: App Store outrage, WWDC20 prep, Android subscriptions change

This Week in Apps: App Store outrage, WWDC20 prep, Android subscriptions change image

Image Credits: Bryce Durbin

Hey versus Apple is the main story: after the App Store approved Hey, a new email app by the founders of Basecamp, Apple rejected further updates unless Hey enabled in-app purchases.

Part of Apple’s business is based on the revenue cut it takes from purchases made inside apps, but now that regulators are taking a closer look and developers are starting to chafe, the controversy is sparking a wider conversation.

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Ideas for a post-COVID-19 workplace

Ideas for a post-COVID-19 workplace image

Image Credits: Carol M. Highsmith / LIbrary of Congress

Most knowledge workers have adapted to being productive at home, but at some point, every company will need to figure out how (or if) office space plays a role in their operations.

If workplaces are a combination of community, problem-solving and innovation, how can we create physical spaces that add value?

“In a post COVID-19 reality, organizations must articulate their reason for being,” suggests Albert De Plazaola, a strategy consultant with extensive experience in design and change strategies.

“When we need the emotional, psychological and professional benefits of tightly woven teams and the support of a strong corporate culture, remote working falls short,” he says. “Way short.”

Read more

Join GGV's Hans Tung and Jeff Richards for a live Q&A: June 30 at 3:30 pm EDT/12:30 pm PDT

Join GGV's Hans Tung and Jeff Richards for a live Q&A: June 30 at 3:30 pm EDT/12:30 pm PDT image

GGV Managing Directors Jeff Richards and Hans Tung will appear on an upcoming episode of Extra Crunch Live to discuss a wide range of topics, including the eight deals they’ve announced so far this year, their short- and long-term view of the startup venture market, and why their firm chose to make a public statement after the killing of George Floyd.

Their firm describes itself as a "global venture capital firm that invests in local founders," but now that deal-making occurs via video chat instead of coffee or dinner, we’ll find out whether those terms still apply.

Join us on Tuesday, June 30 at 3:30 p.m. ET, 12:30 p.m. PT and 7:30 p.m. GMT — join Extra Crunch today so you can ask questions during the live chat.

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