This Week in Startups

Crypto drops ~$200B, Celsius freezes, Binance’s BTC pause, Google AI sentience, Magic Spoon: DTC isn’t dead | E1483

Jun 14, 2022
A dramatic weekend saw the crypto market plummet by $200 billion, with Binance pausing Bitcoin withdrawals amid chaos. Meanwhile, a Google engineer raises eyebrows by claiming AI has achieved sentience. In lighter news, Amazon teases its upcoming drone delivery service, aiming to revolutionize logistics. Finally, the spotlight shines on Magic Spoon, a high-protein cereal brand making waves in the direct-to-consumer market. Tune in for a mix of serious insights and fun anecdotes from the hosts!
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ANECDOTE

Crypto Crash

  • Crypto market cap lost $200B over the weekend.
  • Major currencies dropped by ~25% in the past week.
INSIGHT

Bitcoin vs. Other Cryptos

  • Bitcoin and Ethereum might hold value due to their core utility.
  • Other crypto projects' value is questionable during market downturns.
ADVICE

Evaluating Crypto Projects

  • Focus on launched crypto projects with 6-12 months of customer data.
  • Delay investment until user traction is established and verifiable.
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