Young Wall Streeters are going wild for crypto. Their bosses don't know what to do about it.

Welcome back to Insider Weekly! I'm Matt Turner, the editor in chief of business at Insider.Goldman Sachs polled its interns earlier this year on everything from posting to TikTok to the climate crisis. One takeaway: 21% said they'd invested in cryptocurrencies. Given that Wall Street and its workforce are typically heavily regulated and tracked, I found this striking. In the past, financial institutions have waged war on their staffers communicating on encrypted messaging apps, such as ...
Tags: Google, Amazon, Washington, Wall Street, China, Trends, Xi Jinping, Yale, New York Times, Reddit, Citigroup, Goldman Sachs, Andreessen Horowitz, Zillow, Alex, Marc Andreessen

Inside the Rise and Fall of Clubhouse, a Pandemic Poster Child of VC-backed Hype

From a report: In May 2020, when the pandemic raged, the comedian and TV writer Marlena Rodriguez got an invite to a new app called Clubhouse that offered the homebound online masses a way to spend some of their suddenly abundant time. In the ensuing months, Rodriguez jousted in a chat room with the celebrity Ashton Kutcher, gained more than 13,000 followers, and started a party room on Fridays that frequently swelled to over 1,000 people. She wrote a play, "Once Upon a Clubhouse," and hired act...
Tags: Greece, Tech, Ashton Kutcher, Clubhouse, Marc Andreessen, Rodriguez, Marlena Rodriguez, Fall of Clubhouse a Pandemic Poster Child of VC

An oceanfront California home, which comes with its own cinema and spa, has been bought by Marc Andreessen in a record $177 million deal, reports say

The Pacific Ocean and beaches near Malibu, California. Photo by Michael Hurcomb/Corbis via Getty Images A Malibu mansion sold for $177 million, a record amount for a California property, per WSJ. Venture capitalist Marc Andreessen is thought to be the buyer, according to the report. The oceanfront home was sold by fashion mogul Serge Azria. A sprawling oceanfront estate in Malibu, California, has reportedly been sold to venture capitalist Marc Andreessen for $177 million. The Wall Stree...
Tags: Amazon, Real Estate, News, California, New York City, US, Trends, Getty Images, Manhattan, Mansion, Jeff Bezos, Pacific Ocean, Wall Street Journal, Malibu, Marc Andreessen, David Geffen

Peter Thiel says bitcoin at $60,000 is a sure sign the 'decrepit' political system is about to implode

Peter Thiel. Neilson Barnard/Getty Images for New York Times Tech billionaire Peter Thiel said bitcoin's surge to $60,000 underscores his view that the US political system is unsustainable, according to The Information. Thiel railed against President Biden, the Obama administration and central banks, the report said. Bitcoin's price surged Wednesday to mark a new all-time high above $66,000. The US political system is not sustainable and the skyrocketing price of the decentraliz...
Tags: Obama, White House, US, Trends, Information, Markets, Joe Biden, Bitcoin, Peter Thiel, Biden, Cryptocurrencies, Marc Andreessen, Us Federal Reserve, Thiel, Clinton Obama, Stanford Law School

Andreessen Horowitz executives are reportedly set to meet with lawmakers to discuss crypto regulation as authorities mull crackdown

Andreessen Horowitz general partner Marc Andreessen. Photo by Steve Jennings/Getty Images for TechCrunch Andreessen Horowitz executives are set to discuss regulating the future internet with lawmakers. Web3, as the firm calls it, comprises blockchain, cryptographic protocols, digital assets, DeFi, and social media. "It's time to build a better internet" and begin thinking of regulatory strategy, the firm said. Executives from the legendary venture capital firm Andreessen Horowitz are...
Tags: Congress, Washington, White House, US, Trends, Markets, Regulators, Silicon Valley, Andreessen Horowitz, Cryptocurrencies, Cnbc, Blockchain, Marc Andreessen, Anthony Albanese, A16z, Défi

The Sad Tale of a Silicon Valley-Funded, Libertarian 'Startup City' (slashdot)

RestOfWorld.org tells the story of a libertarian 'startup city' in Honduras that was "supposed to be a privatized, Silicon Valley-funded paradise." Co-founded by 37-year-old Venezuelan Erick Brimen, "Próspera's founders promised to enrich the local community, even supplying water to a nearby village. But relations with neighboring communities deteriorated. Then, Próspera turned off the taps..." Próspera's founders believe the future of government lies with privatized startup cities. They b...
Tags: News, Paypal, Peter Thiel, Silicon Valley, Estonia, Honduras, Marc Andreessen, Delgado, EditorDavid, Prospera, Silicon Valley Funded Libertarian Startup City, RestOfWorld, Brimen, Erick Brimen Próspera, Próspera Foundation

The Sad Tale of a Silicon Valley-Funded, Libertarian 'Startup City'

RestOfWorld.org tells the story of a libertarian 'startup city' in Honduras that was "supposed to be a privatized, Silicon Valley-funded paradise." Co-founded by 37-year-old Venezuelan Erick Brimen, "Próspera's founders promised to enrich the local community, even supplying water to a nearby village. But relations with neighboring communities deteriorated. Then, Próspera turned off the taps..." Próspera's founders believe the future of government lies with privatized startup cities. They b...
Tags: Tech, Paypal, Peter Thiel, Silicon Valley, Estonia, Honduras, Marc Andreessen, Delgado, Roatán, Silicon Valley Funded Libertarian Startup City, RestOfWorld, Erick Brimen, Brimen

Silicon Valley has given up on reality - and now they want us all to use their terrible new alternative

Facebook's Horizon Workrooms, a new virtual reality office space Facebook Facebook's virtual reality office is the dreary-looking beginnings of the "metaverse" - Silicon Valley's new buzzword. Recent investments into developing immersive digital spaces signal the Valley has given up on our shared reality. Zuckerberg and others have traded in real-world problems like climate change and inequality for their tasteless virtual world. Kelly Pendergrast is a writer, researcher, an...
Tags: Amazon, Facebook, San Francisco, Trends, Palo Alto, Andreessen, Silicon Valley, Andreessen Horowitz, Jeff Bezos, Neal Stephenson, Marc Andreessen, Bogota, Zuckerberg, New York University, Valley, Facebook Facebook

Andreessen Horowitz just rolled out a $400 million fund that’s expressly for seed deals

Andreessen Horowitz is begun to announce new funds almost as routinely as some startups have begun announcing follow-on rounds. After announcing a third biotech fund in February 2020 that’s currently investing $750 million; a pair of new funds totaling $4.5 billion last November; and, most recently, a new $2.2 billion crypto-focused fund, the firm is rolling out a brand new fund: a $400 million vehicle that is focused expressly on backing seed-stage companies. In the broader historical context o...
Tags: Tech, Andreessen Horowitz, Databricks, Marc Andreessen, Casado, Martin Casado, Coinbase Pictured

Marc Andreessen quoted Warren Buffett this week. The legendary venture capitalist blasted the investor's bitcoin views in 2014.

Warren Buffett. Getty Images Marc Andreessen's best piece of investing advice is to "put all your eggs in one basket." The venture capitalist attributed the quote to Warren Buffett despite their bitcoin clash in 2014. Buffett doesn't see Berkshire Hathaway as a single basket, given its varied businesses. See more stories on Insider's business page. Marc Andreessen revealed in a recent Bloomberg interview that his favorite piece of investing advice is: "Put all of your eggs in o...
Tags: Facebook, Trends, Bank Of America, Bloomberg, Andreessen, Berkshire Hathaway, Warren Buffett, Andreessen Horowitz, Berkshire, Cnbc, Marc Andreessen, Buffett, Bnsf, PacifiCorp, GEICO, Andrew Carnegie

10 things before the opening bell

Bitcoin Nurphoto / Getty Images Welcome to 10 Things Before the Opening Bell. If this was forwarded to you, sign up here. Plus, download Insider's app for news on the go - click here for iOS and here for Android.Let's get into it.1. Strong earnings and an apparent softening by China's regulators is helping stocks. But there's definitely an air of caution, especially across the tech sector today. Take a look at what's happening on the markets.2. Feelin' lucky? A new ...
Tags: China, Digital, Newsletter, Trends, General Motors, Markets, Bank Of America, Andreessen, Crypto, SEC, Warren Buffett, Goldman, Marc Andreessen, Blackrock, Buffett, Fed

Legendary tech VC Marc Andreessen says Warren Buffett's philosophy of putting all your eggs in one basket is the best investment advice

Andreessen Horowitz partner, Marc Andreessen. Justin Sullivan/Getty Warren Buffett's investment advice is the most useful that Marc Andreessen knows of. He praised Buffett's advice of putting all your eggs in one basket and watching it like a hawk. Andreessen suggested putting money into an S&P 500 Index Fund, and warned against getting "fancy." Sign up here for our daily newsletter, 10 Things Before the Opening Bell. The best investment advice Marc Andreessen has ever heard is fro...
Tags: Facebook, Trends, Bloomberg, Andreessen, Berkshire Hathaway, Warren Buffett, Andreessen Horowitz, Marc Andreessen, Buffett, Don, David Rubenstein, Crypto Valley, Shalini Nagarajan

Superhuman’s Rahul Vohra explains how to optimize your startup’s products for lasting growth

Superhuman co-founder and CEO Rahul Vohra joined us last week at TechCrunch Early Stage to provide an in-depth look at how he and his company worked to optimize and refine their product early to create a version of “growth hacking” that would not only help Superhuman attract users, but serve them best and retain them, too. Vohra articulated a system that other entrepreneurs should be able to apply to their own businesses, regardless of area or focus. The only good hack isn’t a hack at all Vohr...
Tags: Startups, TC, Events, Tech, Marc Andreessen, Superhuman, Vohra, Rahul Vohra, Early Stage 2021, Event Recap, EC Early Stage 2021, Paul Graham Sam Altman

Bessemer replaces board member at Hinge Health following competitive tensions

Board tensions at Hinge Health, a San Francisco-based digital health unicorn, have caused Bessemer Venture Partners to switch up its board director seat, replacing the original investor at the chair with a different one. Hinge Health co-founder and CEO Daniel Perez says BVP’s original board seat went to the partner who led the his company’s Series C round. The investor was recused from the board because they did not notify Perez of a new investment that the founder sees as competitive with Hinge...
Tags: TC, Instagram, New York City, San Francisco, Tech, Venture Capital, Andreessen Horowitz, Daniel Perez, Bessemer Venture Partners, Marc Andreessen, Bessemer, Shah, Lunchbox, Perez, Alamgir, Dorfman

3 fundamental changes from the pandemic economy that could become permanent

A customer pays for his purchase in the doorway of Dave's New York, a retail store, as phase one of reopening after lockdown begins, during the outbreak of the coronavirus disease (COVID-19) in New York City, New York, U.S., June 8, 2020. Brendan McDermid/Reuters Some elements of the pandemic-era economy are likely to stick around well after the recovery. Experts warned the post-crisis economy would be different, and now it's becoming clear how. From remote work to a red-hot housin...
Tags: Facebook, Mark Zuckerberg, New York, US, Trends, Service, Dave, Manhattan, Imf, Marc Andreessen, Pew Research, Brendan McDermid Reuters, Urban Land Institute, National Association of Realtors, New York City New York, Federal Reserve Chair

Silicon Valley is falling in love with ads again and tech CEOs are acting weirdly

Hello, and welcome to this week's edition of the Insider Tech newsletter, where we break down the biggest news in tech, including:Tech's rekindled love of advertisingWeird behavior among tech bigwigsGoogle's new AI group Did someone forward this newsletter to you? Sign up here. This week: Silicon Valley is falling in love with ads ... again Photo By David Fitzgerald/Sportsfile via Getty Images The great reopening is here, and with it, the opening of the purse strings for co...
Tags: Apple, Google, Amazon, Startups, Facebook, Mark Zuckerberg, Elon Musk, Texas, Enterprise, Media, California, Advertising, Newsletter, Trends, Earth, Venture Capital

8 multi-billion IPOs that cemented Andreessen Horowitz's power

Marc Andreessen and Ben Horowitz have had several blockbuster exits in the past couple of years. AP Andreessen Horowitz earned its Silicon Valley power broker status by backing Facebook and Twitter. It's turned those wins into a decade of multi-billion exits. Here are the firm's eight biggest IPO exits since 2011. See more stories on Insider's business page. A decade after Marc Andreessen declared that software was "eating the world," his VC firm has notched a succession of m...
Tags: Facebook, Trends, IPOs, Zynga, SEC, Silicon Valley, Airbnb, Ben Horowitz, Andreessen Horowitz, Coinbase, Andreesen Horowitz, Marc Andreessen, Crunchbase, Tech Insider, Roblox, April Joyner

a16z’s new $2.2B fund won’t just bet on the crypto future, it will defend it

The big news in tech this morning is a new a16z cryptocurrency-focused fund totaling some $2.2 billion. The new investment vehicle is worth around four times what the company’s preceding crypto fund — its second — was worth. Andreessen’s wager on cryptocurrency is only accelerating over time as the investing house raises larger funds focused on the market with less time between them. The Exchange explores startups, markets and money. Read it every morning on Extra Crunch or get The Exchange new...
Tags: TC, Finance, Tech, Andreessen, Bitcoin, Venture Capital, Cryptocurrencies, Ethereum, Coinbase, Marc Andreessen, Exchange, A16z, The Exchange, EC Fintech

Andreessen Horowitz raises $2.2 billion for its largest ever cryptocurrency fund

AP Prominent VC firm Andreessen Horowitz launched a $2.2 billion crypto fund. It's the firm's largest fund of its kind, and the third crypto-focused fund. Reports about the $1 billion crypto fund have been circulating since April. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Andreessen Horowitz (a16z) announced Thursday it is launching a $2.2 billion crypto fund to deploy more capital across blockchain and digital asset projects.The fund, called "Cr...
Tags: Trends, Markets, Bitcoin, Venture Capital, SEC, Andreessen Horowitz, Financial Times, Marc Andreessen, Chris Dixon, A16z, Brent McIntosh, Bill Hinman, Katie Haun, Emily Graffeo, MI Exclusive, A16z crypto fund

10 things in tech: John McAfee has died, Apple's warning, Top startups

John McAfee Good morning and welcome to 10 Things in Tech. If this was forwarded to you, sign up here.Let's get started.1. John McAfee has died by apparent suicide in jail while awaiting extradition on tax evasion charges. McAfee, 75, was found dead in a Barcelona jail cell on Wednesday. Earlier in the day, Spain's National Court approved his extradition to face US-based charges. What we know so far.2. Six Amazon employees reveal what's driving people to quit. We spoke with ...
Tags: Apple, Facebook, Mark Zuckerberg, Texas, Cook, Microsoft, US, Newsletter, Trends, Tech, Spain, Barcelona, Austin, Tim Cook, Nancy Pelosi, App Store

Tim Cook, Jamie Dimon, and other CEOs say employees should return to the office because it boosts creativity. Experts say that's a 'fairy tale.'

A 2019 study found open floor plan offices had 70% fewer face-to-face interactions. Monkey Business Images/Shutterstock Business leaders like Jamie Dimon say office work is essential for "spontaneous idea generation." But research doesn't support many of the claims of improved creativity and productivity. The office can be a barrier to some, and 707,000 white collar workers quit their jobs in May. See more stories on Insider's business page. America's CEOs really want their wor...
Tags: Productivity, Careers, America, Trends, Remote Work, Mit, Harvard, Ford, New York Times, Times, Offices, Zillow, Jamie Dimon, Marc Andreessen, Bernstein, Jpmorgan

Tech legend Marc Andreessen says the rise of remote work might be more important than the internet: 'A permanent civilizational shift'

Remote work has changed everything. Roy Rochlin/Getty Images Remote work is "a permanent civilizational shift," Marc Andreessen wrote in a recent blog post. It's "a consequence of the internet that's maybe even more important than the internet," he wrote. Remote work has freed up opportunities for knowledge workers, which could lead to shared prosperity. See more stories on Insider's business page. Technology has saved the world.So said tech entrepreneur and venture capitalist ...
Tags: Florida, New York, US, San Francisco, Trends, Andreessen, Austin, Miami, University of Toronto, Marc Andreessen, Richard Florida, US Census, Hillary Hoffower, Roy Rochlin Getty Images Remote

Legendary VC Marc Andreessen's advice to 23-year-olds: 'Don't follow your passion'

"Your passion is likely more dumb and useless than anything else," Marc Andreessen says. Photo by Steve Jennings/Getty Images for TechCrunch Marc Andreessen is the cofounder of the wildly successful VC firm Andreessen Horowitz. In a recent interview, Andreessen was asked to give his best advice to a smart 23-year-old American. "Your passion should be your hobby, not your work," he said. "Do it in your spare time." See more stories on Insider's business page. Marc Andreessen is one of ...
Tags: Facebook, Advice, Careers, Trends, Andreessen, Andreessen Horowitz, Career Advice, Smith, Marc Andreessen, Don, Netscape, Tech Insider, Roblox, Ben Horowitz Andreessen Horowitz, A16z, DOMINICK REUTER

Gillmor Gang: Who Knew

The Gillmor Gang recording session is nestled on Friday midday on the East Coast and midmorning out West. Streamed live on Twitter, Facebook Live, and Youtube embed, the show is then edited, sweetened with titles and music, and released on Techcrunch. It’s a kind of hybrid between podcast, Zoom collaboration meeting, and work-from-anywhere encounter group. The Gang grew out of the early days of podcasting, now undergoing rescaffolding from social, drop-in, or just plain fast following from a ...
Tags: Apple, TC, Facebook, Video, Tech, Intel, Netflix, Gang, Gillmor Gang, Andreessen Horowitz, Salesforce, Hulu, East Coast, Facetime, Steve Gillmor, Keith Teare

Blendoor data lets you know if companies are living up to diversity pledges

Many companies talk the talk when it comes to diversity, but it’s harder to know if a firm is actually going the extra mile to hire more qualified people from underrepresented groups, or if they just make noise about it. Blendoor, a six-year-old startup, wants to put data to work on the problem by giving companies a score based on publicly available data to let the world know just how diverse a company actually is. Blendoor founder and CEO Stephanie Lampkin says that when she launched the compan...
Tags: Startups, TC, Tech, Diversity, Governance, Black Lives Matter, ESG, Marc Andreessen, Floyd, Stephanie Lampkin, Blendoor, Diversity and Inclusion, Techcrunch Include, Lampkin, George Floyd, Sixty8 Capital

How Link in Bio became the new online real estate for the creator economy

In the past few months I’ve been writing on VC Cafe about various aspects of the Creator Economy. From the definition of what is the creator economy and what are its main challenges, who are the creators and how they make money and 5 advancements powering the future of content creation. But underneath all that, there’s a seemingly simple infrastructure challenge that is has become a big opportunity for startups – the link in bio page. It all starts with identity Creators come from diffe...
Tags: Apple, Facebook, Instagram, Trends, Ning, San Diego, Bio, Marc Andreessen, Index Ventures, Koji, Coatue, Pinterest Twitter, Gina Bianchini, AirTree Ventures, Zaccaria, Linktree

The media landscape shifted under Silicon Valley's feet, so now they're trying to silence criticism they don't like

Clubhouse Drop-in audio chat app logo on the App Store is seen displayed on a phone screen in this illustration photo taken in Poland on February 3, 2021. Jakub Porzycki/NurPhoto via Getty Images Reporter Taylor Lorenz has been targeted by billionaire tech investor Marc Andreessen. Lorenz's reporting on Andreessen and companies he's invested, in like Clubhouse and Substack, has drawn heat from the billionaire and his allies. Today's tech elites are trying to send a message to m...
Tags: Amazon, Facebook, Washington Post, Trends, Tesla, Getty Images, Andreessen, Sheldon Adelson, Peter Thiel, Poland, Silicon Valley, Ben Horowitz, Jeff Bezos, Rupert Murdoch, News Corp, The Washington Post

I spent 4 hours on Clubhouse - this is what it's like on the buzzy, 1-year-old chat app expected to be valued at $4 billion

A screenshot of a room in the Clubhouse app. Clubhouse/Insider Clubhouse is an invite-only, audio social media app featuring conversation rooms that users can tune into. It launched in March 2020 and has grown into a popular platform, reportedly valued at $4 billion. I tried it out and found why it was so successful during the pandemic, when people lacked community. See more stories on Insider's business page. Clubhouse is one of those buzzy things I've kept at arm's length for...
Tags: Facebook, Apps, Mark Zuckerberg, News, Trends, Strategy, Social Media, Jp Morgan, Silicon Valley, Clubhouse, Marc Andreessen, Tesla CEO Elon Musk, Tech Insider, Tiffany Haddish, Jaime Dimon, Katie Canales

I used Clubhouse for the first time and enjoyed it way more than I thought I would - it's easy to see why the app is expected to be valued at $4 billion

A screenshot of a room in the Clubhouse app. Clubhouse/Insider Clubhouse is an invite-only, audio social media app featuring conversation rooms that users can tune into. It launched in March 2020 and has grown into a popular platform, reportedly valued at $4 billion. I tried it out and found why it was so successful during the pandemic, when people lacked community. See more stories on Insider's business page. Clubhouse is one of those things I've kept at arm's length for month...
Tags: Facebook, Apps, Mark Zuckerberg, News, Trends, Strategy, Social Media, Jp Morgan, Silicon Valley, Clubhouse, Marc Andreessen, Tesla CEO Elon Musk, Tech Insider, Tiffany Haddish, Jaime Dimon, Katie Canales

Partial Q1 Vacation – Books and Running

I sort of took a Q1 Vacation last week. 2021 didn’t really feel like it started for me until January 21st. Yeah, I took a company public on January 4th, but then January 6th happened. It was a cold, dark, and anxious stretch where January felt like it had about 51 days in it. Then I was deep in SPACland and lots of deals and financings. I definitely had some “I just need to get to March 26th, and then I get a break” in my head. We got back to Boulder on a Friday, settled into our house on...
Tags: Guantanamo, Obama, Trends, William Gibson, Boulder, Biden, Sierra, Neal Stephenson, Twilio, Marc Andreessen, Ken Williams, Aspen, Amy, Cooper, Jeff, UNC