CM Weekly: Brex’s Revenue, Tech Layoffs, Regulated BaaS
Chris McCann's weekly newsletter on technology, startups, and venture capital.
Race Capital is hiring a few interns as associates for the summer. Find out more about what we’re looking for and apply here.
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Written by Chris McCann, General Partner @ Race Capital. More about me.
🗞️ Interesting Reads
Sam Altman is reportedly raising billions of dollars (outside of OpenAI?) to manufacture AI chips.
Reddit is reportedly gearing up to go public in 2024.
Brex's financials were leaked and they were reportedly doing $279M in revenue, but burning $18M a month.
In 2024, so far 93 tech companies have laid off 24,000+ workers from companies including Salesforce, Flexport, Hubspot, Brex, eBay, and more.
An older article showing the challenges of how to regulate banking as a service companies & the partner banks that bank them. These partner banks are under increased scrutiny as of late.
🔥 Startup Jobs
By Company: Databricks, GoodNotes, Zeet, Polysign, Opaque, Lightning Labs, OtterTune, and more
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By Location: SF Bay Area, New York, London, and Remote
Browse more open roles across our portfolio at Race Capital's Portfolio Job Board.
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