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Four Fundamental Innovations of Web3 that Will Upend Web2 Incumbents

Tomasz Tunguz

Crypto companies access pools of capital web2 companies cannot because the regulation doesn’t exist. DAOs bind the loose community of open-source software contributors through tokens. Twenty years ago, startups IPOed after 4 years. Today, it’s 12, driven by several factors but regulatory costs present the principal one.

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Financial Inclusion for Latinos Gains $4.5M Seed Capital for Latino-founded Neobank

American Entrepreneurship

Comun observed that no incumbent bank offers a full Spanish language banking experience. Seed capital to serve the 44 million Latinos with Spanish as a primary language in the U.S. Comun offers a full banking experience available first in Spanish, bringing the Latino community together around the financial services they need.

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Make no bones about it, Fuzzy expands reach into pet care market with capital infusion

TechCrunch

In addition, 25% of the capital was raised from underrepresented communities, Bhettay said. Bhettay is also seeing the larger incumbents focus here, as well as marketing dollars, which he considers validation that the market is shifting to the digitalization of pet care. Fuzzy live chat via its app. Image Credits: Fuzzy.

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Equal access to capital and entrepreneurship is the final civil rights movement

TechCrunch

But despite my privilege, I’m also confident that my Black heritage made it more difficult for me to raise venture capital. Today — and the data proves this — if you are a white male, you have an unfair advantage when looking to raise venture capital. At the time, I didn’t even know that raising venture capital was a possibility.

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Together raises $20M to build open source generative AI models

TechCrunch

There’s scores of competition, including incumbents like OpenAI and Anthropic. “Together is spearheading AI’s ‘Linux moment’ by providing an open ecosystem across compute and best in class foundation models,” Lux Capital’s Brandon Reeves told TechCrunch via email.

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Why the startup sector should keep its eye on the SEC

TechCrunch

This negative narrative has immense implications for the venture community. Three key areas of proposed intervention by the SEC offer examples of why the venture community should be paying attention. Signals suggest the Commission could require companies that raise capital under Reg D to disclose more financial and company information.

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Gooder Foods brings in $6.4M to offer its take on a more grown up mac n’ cheese

TechCrunch

The Naked Market flashes some new capital to create better-for-you food brands. Goodles is going after the two oldest incumbents in the space, Kraft and Annie’s, to provide a healthy alternative that tackles both better taste and nutrition. Zeszut and Gadot met three years ago and bonded over Gadot’s love for mac and cheese.