VC Winter Sequoia Craft Benchmark Light Speed

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According to CB insights funding for global startups is about $58 billion in commitments midway through Q2, which is on pace to drop by 20% quarter over quarter. Fred Wilson of Union Square Ventures and early Twitter investors said in a blog post that he would be planning to ride this thing out for at least 18 months or more. Sequoia said it's not going to be a V-shaped recovery. Bill Gurley tweeted, the cost of capital has changed materially. And if you think things are like they were, then you are headed off a cliff like thelma and Louise.

Today, Acquired’s David Rosenthal joins us. We discuss their recent Climate Pledge Arena Show (1:37), the new fundraising environment, and what the best founders and VC firms are doing (21:29), and we dig into the New York Times' latest hit piece on Glossier CEO Emily Weiss (37:40). We wrap with an optimistic look at what Australian billionaire and Atlassian CEO Mike Cannon-Brookes is doing to take on Australia's biggest polluter (1:00:59).

(00:00) Cold open
(1:37) David Rosenthal from Acquired catches up with Jason and Molly
(12:01) Coda - The All-in-one doc for teams, get a $1,000 credit at https://coda.io/twist
(13:18) Crypto downturn, good for crypto in the long run?
(20:11) Lemon.io - Get 15% off your first 4 weeks of developer time at https://Lemon.io/twist
(21:29) “VC Winter” warnings for founders
(36:24) Reforge - Apply for their next cohort at https://reforge.com/twist
(37:40) Glossier hit piece - NYT decides to dunk on Glossier founder Emily Weiss
(53:13) Jason reveals his workshop process for comedy
(56:38) Founders’ response to NYT hit piece on Emily Weiss
(1:00:59) Mike Cannon-Brookes trying to buy AGL, Australia's largest energy producer
(1:13:05) Teasing tomorrow’s show: GameStop earnings