Equity That's capitalism, baby!
Jul 21, 2023
Discover the shocking layoffs at Cameo and the decline in fintech valuations, highlighting Stripe's dramatic drop. The story of VanMoof's bankruptcy serves as a cautionary tale on unicorn ambitions. Dive into the complexities of CEO turnover and when leadership changes are necessary. There's also a lively debate about the role of generative AI in creative industries, sparked by an AI-generated 'South Park' episode, prompting discussions on ethics and author compensation. A week filled with revelations and industry insights!
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Cameo Layoffs
- Cameo, a service for celebrity video greetings, is laying off 80 employees, reducing its workforce to under 50.
- This is a significant drop from its peak of 400 employees and a $1 billion valuation in 2021.
Fintech Valuations Drop
- Fintech valuations have dropped significantly, with Stripe's valuation plummeting from nearly $200 billion to $50 billion.
- Secondary market data provides a more accurate view of valuations than primary funding rounds.
Egnyte's Quiet Growth
- Egnyte, an enterprise software company, quietly reached $200 million ARR with 25% growth.
- Unlike other high-flying companies, Egnyte has focused on profitability, growing steadily without much fanfare.