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The team that went to CES is back at their desks. If you missed the barrage of stories – or just couldn’t stay on top of it – Brian wrote a great CES 2023 debrief. Give that a cursory glance, and you’ll be safe in the knowledge that you haven’t missed anything important as you grab your favorite lounge chair and a book to settle in for the weekend. — Christine and Hey
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The businesskinda.com Top 3
- Slasher movie, but IRL: Tesla cuts its prices again, this time for US buyers, by as much as 20%, Kirsten reports. This new lower base, which drops below $55,000, “is important because it allows buyers to qualify for the $7,500 federal tax credit,” she writes.
- Claws out: Fintech startup Mayfair debuted its high-yield corporate APR backed by $10 million in funding from investors like Tiger Global. Mary Ann has more on how the company can offer such a high rate of interest.
- If A then B: Manic writes about Google warning India that if its antitrust ruling is upheld, it will pose a threat to national security and cause prices of Android devices to rise in the region.
Startups and VC
It seems that SPACs are not quite dead yet, as World View, a company that develops stratospheric balloons for Earth observation and tourism, is headed to the public markets, Aria reports. The company announced Friday that it would merge with special acquisition company (SPAC) Leo Holdings Corp. II in a $350 million deal as it tries to build out what it calls “the stratospheric economy.”
And we have five more for you:
You are not going to grow in your appreciation for 2021
Image Credits: nfs photo (Opens in a new window) /Getty Images
According to Jeremy Abelson and Jacob Sonnenberg of Irving Investors, many if not most founders attached to their 2021 valuations live in a fantasy.
For this TC+ post, they “worked out the simple math behind how long it will take companies to price their IPO at a flat round relative to their previous 2021 valuations.”
Companies with 75% year-over-year growth “can have the discussion,” but “if you’re growing below 30%, chances are growing to your 2021 valuation is impossible.”
Three more from the TC+ team:
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Big Tech Inc.
Are you strolling around Paris right now? Well, this could be your last time. Roman takes a comprehensive look at how scooters in Paris are at a crossroads as the city considers renewing contracts with three companies. As Michael Scott said“Brace yourself, it’s going to be a bumpy one.”
In the meantime, Sara and Kirsten coupled with a first that Tokyo-based news aggregator SmartNews has laid off 40% of its staff in the US and China.
And we have five more for you:
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