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Welcome back to your daily recap of australiabusinessblog.com goodness. It’s my last day with you (you’re welcome!), so Christine will be back in the Daily Crunch chair on Tuesday. Hey won’t be back yet because he’s going to Vegas as part of the CES team. Speaking of CES, Brian lifted the curtain on what we can expect from the first full-fledged production since pre-COVID.
Goodbye, folks. Safe and Happy New Year to all of you. — Henry
On the top
- In the Matrix: No not Which Matrix. We are talking about the open standards based communication protocol called Matrix Paul went deep. The network doubled thanks in part to increased use by companies and the government. Reddit is also trying and experimenting with it for its chat feature.
- Before the merger: Tim took a look at five startups poised to capitalize on recent merger breakthroughs. [TC+]
- Alt-ChatGPT: In the wake of the backlash to OpenAI’s ChatGPT comes an open source equivalent. It’s called PaLM + RLHF (rolls right off the tongue, doesn’t it?), but Kyle writes that it is not pre-trained, which means good luck running it.
- The Meta-Eyes have it: Amanda writes that Meta is entering the eyewear business with the purchase of Netherlands-based smart eyewear company Luxexcel.
- Follow book: Aisha collected a list of five apps you can use to keep track of all the reading you plan to do once the clock strikes 2023.
- Netflix vs. Hulu: Maybe you’ve decided to cut a streaming service or two from your lineup in light of their continued price increases. Lauren reviewed the features of Netflix and Hulu to help you make up your mind.
What to look for in a termsheet when you first start up
Silicon Valley reporter Connie Loizos interviewed three seasoned VCs to get their best advice for budding entrepreneurs. She asked them:
- Why should you know what’s going to be in a term sheet before you see it?
- Which mechanism should I use in the beginning?
- How much equity is distributed at each level of early stage fundraising?
- What is a red flag in a term sheet?
- How should founders think about valuation when it comes to that first term sheet?
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Looking back and looking ahead
We’ve rounded up TC+ venture capital stories from a year that unfortunately had many downs. And here are a few more favorites for good measure:
Indian startups had a lot of cash with record investments. Utilities, Manic writes, the ecosystem is grappling with tighter funding markets, layoffs, and disappointing public debuts.