Airtable fires 250+ as CEO mentions importance of ‘being a streamlined organization’

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Hello, happy Thursday. There’s a lot of news today, much of it being posted as I write this – for example, the Federal Trade Commission is now suing to stop Microsoft from buying Activision. So less chatter, more chatter. — Christine

The Top 3

  • Let’s give them something to talk about: Given all the popularity of ChatGPT in the news lately, it’s no surprise that a related company would be top news today. Instead of taking screenshots, Ivan writes, ShareGPT creates a link to your ChatGPT conversations that you can grab instead.
  • Get your Frappuccino with a side of NFTs: Starbucks opened up its blockchain-based loyalty program and NFT community to its first batch of beta testers, Sara reports. “Travel Stamps” will unlock new experiences beyond the free drinks and food frequent drinkers can get from Stars.
  • Fly through the friendly skies of the capital: There’s something in the air there. TripActions secured $400 million in credit facilities from Goldman Sachs and Silicon Valley Bank less than two months after the travel expense management firm announced a $9.2 billion valuation. Mary Ann has more.

Startups and VC

Moving, starting a new job and getting married in a short span of time is the trifecta of stress for everyone (I know from my own experience). In the startup world, that trifecta could be what happened to marketing technology startup Banzai. Ingrid writes that the company acquired Hyros, raised $100 million and went public through SPAC. Congratulations?

Meanwhile, France has a good venture capital run. Mike reports on some new funds, including IRIS Capital, which had an initial close of €110 million as it works to reach a target of €150 million for its new venture capital fund.

Want more? Here are five more:

To prepare for a downturn, build a three-case model

Image of intersecting rings with spheres on a green background.

Image Credits: MirageC (Opens in a new window) /Getty Images

Startups that develop case models are better equipped to handle potential setbacks. Visualizing exactly how potential market shifts could affect your business is a great way to prepare for the unexpected.

A three-case model attempts to predict best-case, down-case and base-case scenarios, writes Matt Barbieri, partner-in-charge at accounting firm Wiss & Co.

“Usually the base case falls between the extremes. For example, in financial modeling you could say that Peloton has experienced both its ‘best case’ and ‘down case’ scenarios within a year.’

Four more from the TC+ team: is our membership program that helps founders and startup teams lead the way. You can sign up here. Use code “DC” for a 15% discount on an annual subscription!

Big Tech Inc.

All the tech layoffs prompted Airtable to release a memo earlier this week promoting the tools for job seekers. Now it’s Airtable’s own employees who may have to use them. Natasha M reports that the company, which was last valued at $11 billion for its no-code software, laid off more than 250. and chief product officer.

And here are five more for you: