This Week in Startups

23andMe BANKRUPT, Saylor Still Buying Bitcoin, + Founder Interviews | E2102

Mar 25, 2025

Gavin Uberti, CEO of Etched, is revolutionizing AI with transformer-specific ASICs, focusing on optimizing chips for enhanced performance. Anshu Sharma, co-founder of Skyflow, discusses empowering businesses to harness AI while ensuring data privacy. The conversation dives into the fallout of 23andMe's bankruptcy and the surprising resilience of Bitcoin, with insights on startup M&A trends. The guests highlight the fine line between innovation and security in tech, underlining how crucial trust and efficiency are as we navigate the future of AI and healthcare.

01:36:15

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Episode guests

Anshu Sharma

Gavin Uberti

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Episode notes

Podcast summary created with Snipd AI

Quick takeaways

23andMe's bankruptcy highlights the downfall of businesses lacking recurring revenue models amidst evolving market demands.

MicroStrategy's aggressive Bitcoin acquisition strategy raises concerns about sustainability and potential market impacts as they hold over half a million Bitcoins.

Startups like Etched, Skyflow, and MedServe are innovating in AI chips, data privacy, and medication security, driving change in their respective sectors.

Deep dives

23andMe Files for Bankruptcy

23andMe, the well-known at-home DNA testing company, has declared voluntary Chapter 11 bankruptcy. Once celebrated for revolutionizing personal genetics, the company struggled with declining revenues, reporting a 12% decrease compared to the previous year, and incurred a significant net loss of $59 million. With a diminishing cash balance and no viable recovery plan in sight, the company's decision to file for bankruptcy signals the end of an era for a service once seen as cutting-edge. Analysts speculate that the issues stem from failing to create recurring revenue streams, leading to a tragic but predictable downfall.

Intro

2min

The Rise and Fall of 23andMe and Bitcoin Dynamics

7min

Surge in Billion-Dollar Startup Acquisitions and Launching New Ventures

2min

Trends in M&A and Startup Finance

9min

Navigating Financial Pitfalls and Elevating Your Online Presence

2min

Transformers and Chips: Etched's Vision

8min

Navigating the Semiconductor Landscape

4min

NVIDIA Chips and AI Hardware Dynamics

12min

Revolutionizing Cybersecurity in the AI Era

19min

10.

Navigating AI Growth and Customer Loyalty

6min

11.

Building Trust in Security Sales and Innovations in Healthcare

4min

12.

Exploring Milwaukee's Thriving Startup Ecosystem

2min

13.

Enhancing Drug Security in Healthcare

15min

14.

Strategic Future: IPO vs Acquisition in Healthcare Tech

2min

15.

Ensuring Drug Safety and Hiring Challenges in Healthcare Technology

2min

16.

Cinematic Knowledge and the Chicago Tech Scene

2min

Today’s show: In this episode, Alex and Lon kick things off with the latest tech news — including 23andMe’s dramatic collapse, MicroStrategy’s half-million Bitcoin haul, and whether we’re finally seeing a rebound in startup M&A. Then they sit down with three standout founders building the future across AI chips, data privacy, and healthcare. First up, Etched CEO Gavin Uberti explains why they’re betting big on transformer-specific ASICs. Then, Skyflow co-founder Anshu Sharma breaks down how they’re helping enterprises use LLMs without leaking private data. Finally, MedServe’s team walks us through how they’re securing medications in outpatient clinics and staying on the right side of the DEA.

Timestamps:

(0:00) Alex kicks off the show

(1:15) 23andMe bankruptcy and SPACs impact

(5:23) MicroStrategy's Bitcoin strategy

(8:58) Increase in M&A activity and market trends

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(13:37) Browser use, agentic AI, and VC market insights

(19:28) Financial responsibility in startups

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(21:56) Interview with Gavin Uberti of Etched

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(32:12) Economic and technical aspects of chip efficiency

(39:53) Etched's market demand, manufacturing, and AI scaling

(43:05) Founder insights and hardware startup potential

(45:43) Introduction to Skyflow and Anshu Sharma

(50:19) Skyflow's growth and customer acquisition strategies

(1:03:09) ServiceNow's new product and Skyflow's bullish outlook

(1:06:33) M&A interest and AI stack value creation

(1:12:06) Skyflow's funding and cybersecurity customer trust

(1:13:12) Introduction to MedServe and Milwaukee's startup ecosystem

(1:16:30) MedServ's solution to drug dispensing and diversion

(1:23:05) Economic challenges and solutions for smaller facilities

(1:26:50) MedServe cabinet features and use case demonstration

(1:29:51) Cybersecurity and physical security of MedServe systems

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