CM Weekly: Saber, China Internet Report, Solana Ignition

A few rapid fire highlights for last week: 

• Our portfolio company Saber crossed $1.5B in TVL and is now the #1 biggest DeFi project on Solana.

• Over the weekend some of my artworks and NFT collection were featured in an art gallery in Hong Kong.

• Last week I also announced a new generative art project called Playground for the Solana NFT ecosystem. 

• Solana announced their next hackathon - Ignition. For any builders applying I’d be happy to take a look at your application & also entrants should consider building on top of Saber too.

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Written by Chris McCann, General Partner @ Race Capital, former Greylock Partners. More about me.

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🗞️ Tech News Last Week 

• Amazon will be using Affirm for their buy-now-pay-later (BNPL) checkout option, in a move following Square's acquisition of AfterPay for $29B.

• Databricks raised a massive $1.6B on a $38B valuation with a (small) participation from us at Race Capital & my partner Alfred being their early seed investor from day one.

• The SEC has hinted at banning the practice of "payment for order flow" (PFOF). This would have huge implications for companies like Robinhood which derive 80%+ of their revenue from PFOF.

• The average time per user of TikTok is greater than YouTube for the first time in the US and the UK.

• Apple and Google might not be able to maintain their tight grip over the underlying payment rails forever.

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🤔 Deep Dive Posts

• My partner at Race Capital, Edith Yeung, published this year's China Internet Report (sponsored by Race Capital) which is the definitive annual report on the China tech ecosystem.

• Privacy is coming whether tech companies like it or not, but do we really know what privacy means? 

• Here are some screenshots of internal emails from Google during their consideration process for acquiring YouTube.

• DAOs are hot and on the cutting edge of blurring the lines between communities, investments, and corporate structures. 

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🔥 Race Capital - Portfolio Jobs

• Polysign: Senior BSA Analyst (New York, NY)

• FTX: Full Stack Developer (Miami, FL)

• Opaque: Technical Recruiter, Product Designer, Developer Evangelist (Berkeley, CA)

• SocialChat: Operations manager (San Francisco, CA)

• GoodNotes: Back-End Team Lead (London, UK)

Browse more open roles across our portfolio at Race Capital's Portfolio Job Board

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