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- Social Leverage Letter | Issue #42
Social Leverage Letter | Issue #42
Round Dilution, Culture Wars, and Marc Andreesen on Building in New Territory
Pete Weishaupt
June 19, 2022
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READING
Venture capitalist Tomasz Tunguz, takes a look at round dilution. VC dollars have been declining for the past decade:
In the last 12 years, mean seed round dilution has dropped from 25% to 12.5%. Series A has dropped from 30% to 20%; Series B from 22.5% to 12%; and Series C from 18% to 11%. Across financing rounds, dilution from capital has fallen by 30-50% in that decade. These figures exclude employee stock option (ESOP) dilution.
WHAT ELSE WE'RE READING
Here's a few other stories that caught our eye over the past week.
Once in a Lifetime (Morgan Housel)
Value Creation in the Metaverse
The Mystery of the $2,000 Ikea Shopping Bag
Inside a Corporate Culture War Stoked by a Crypto C.E.O.
LISTENING
Marc Andreessen joined Tyler Cowen to discuss his ever-growing appreciation for the humanities and more, including why he didn’t go to a better school, his contrarian take on Robert Heinlein, how Tom Wolfe helped Marc understand his own archetype, who he’d choose to be in Renaissance Florence, which books he’s reread the most, Twitter as an X-ray machine on public figures, where in the past he’d most like to time-travel, his favorite tech product that no longer exists, whether Web will improve podcasting, the civilization-level changes made possible by remote work, and more.
WHAT ELSE WE'RE LISTENING TO
A few more podcasts you might like:
Meb Faber — Two Quants Walk into a Bar (Infinite Loops)
Kraken CEO Jesse Powell responds to NYT hit piece and breaks down the state of crypto
The WSJ’s own Spencer Jakab – Research Analyst Turned Journalist on the Revolution that Wasn’t (Panic with Friends)
DEAL FLOW
The latest venture funding from around the globe:
Terra.do Raises $5M In Seed Round
Drive by DraftKings, Dapper Labs Invest in Evaluate.Market’s $4M Seed Round to Track NFT Marketplaces
Brevel raises $8.4M seed round on path to become the leading alternative protein
evolutionQ Receives $5.5M in Series A Funding
Tiger Global leads $40M Series A round in B2B startup Groyyo
CRYPTO CORNER
News on Crypto/web3:
Why Web3 will be critical to countering a dystopian ‘splinternet’
Crypto – The Flippening of The Flippening
Salesforce Leans In to Web3 with New NFT Cloud
Web3 and IAM: Marching toward disruption
Where Crypto-Focused VCs See Opportunity Now in Web3
JOB BOARD
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