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My First 16: Competing in a Crowd of Incumbents with Mercury’s Immad Akhund

Andreessen Horowitz

In this episode, a16z partner Seema Amble talks with co-founder and CEO of Mercury Immad Akhund about the idea of a minimum delightful product in fintech, doing the spreadsheet math on unit economics early on, and how to compete in a category already filled with incumbents. Lastly, we were targeting this fairly tight knit community, right?

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The Opening

A VC: Musings of a VC in NYC

I’ve always thought the opening would be at the intersection of gaming, online communities, and social networks. So the existing incumbents are the defensive line. But what is cooler is that these NFT experiences are operating at the interaction of gaming, communities, and social nets. And there is running room.

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Four Fundamental Innovations of Web3 that Will Upend Web2 Incumbents

Tomasz Tunguz

DAOs bind the loose community of open-source software contributors through tokens. Open-source software powers every server and most software. Crypto empowers open-source projects to monetize their innovation in a way web2 never achieved. Tokens provide an ongoing financial link that aligns long-term incentives.

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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. ” He has a point — insofar as incumbents are feeling the pressure, at least. The number of open source models both from community groups and large labs grows by the day , practically. billion in Q1 2023, with an additional $10.68

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SXSW 2022: Building the Sustainable Startups of the Future

Revolution

Startups are a Sustainability Accelerant: Unlike industry incumbents with slower, more outdated frameworks, startups often build with sustainability at the forefront of their business?—?even even (and especially) as the company scales.

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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. Comun offers a full banking experience available first in Spanish, bringing the Latino community together around the financial services they need. Comun gained investor support of $4.5M

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Amira Yahyaoui wants Mos to be a ‘radical’ fintech startup

TechCrunch

Since its 2017 inception, Mos has opened access to a pool of over $160 billion in financial aid to the more than 400,000 students within its community. We don’t want to be elitist, we don’t want to do this for a very small category of people because we really want to become the incumbent bank in the U.S.,”