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he made 100K ignoring typical startup advice, Coinbase launches Fact Check, AR meets NFT, investor insights & 8 years to overnight success.
Hi there,
It's Memorial Day in the United States of America.
Since 9,483* of you are based in the US, you might be otherwise occupied today.
If you're lounging around on the sofa and checking your email, then thanks for sharing your holiday with us.
Meanwhile, on the other side of the Atlantic…
In the English town of Sandwell, Police set out to bust an illegal cannabis farm.
Detectives said they were tipped off about lots of people visiting a property throughout the day and a police drone picked up high levels of heat coming from the building.
Imagine their surprise when they stumbled into a Bitcoin mining operation.
Instead of cannabis plants they found a bank of about 100 computer units.
The force said the cryptocurrency "mine" had been stealing electricity via an illegal connection to the supply.
The moral of the story: Stealing. Is. Bad.
What's good is the variety of startup, NFT and money news we have for you below.
And, a couple of tools you might want to play with.
As always, thanks for being here.
P.S. Please support our generous sponsors. Go on. See what they've got. They help keep this newsletter FREE!
(*not exact, but close)
Coinbase Launches Fact Check
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Crypto giant Coinbase has launched its own media operation.
The company is calling it "Fact Check."
In a blog post, Coinbase Founder and CEO Brian Armstrong said the firm, which recently went public, will use Fact Check to combat misinformation and mischaracterizations about Coinbase or crypto being shared in the world.
Here's an excerpt from Armstrong's post:
"Unfortunately, we also see misinformation published frequently as well, whether in traditional media, social media, or by public figures. This doesn't always come from negative intentions.
Our business, and crypto, can be difficult to understand, and often people are rushed to post first impressions online, making mistakes in the process. At other times, misinformation comes from people pushing their own agenda, or from those who have a conflict of interest."
Armstrong reveals his thinking behind the move:
"Crypto is a rapidly emerging space with growing attention and focus on it right now. We want to do our best to ensure that when a customer, a regulator, or another important stakeholder is doing their research on crypto that they’re seeing information that is accurate and objective."
Sitting Pretty
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Perch is the latest commerce company to attract a significant round of funding as the e-commerce aggregator industry continues its hot streak.
They just announced a $775 million round of Series A funding led by SoftBank Vision Fund 2.
Perch touts this round as “the largest ever Series A raised by a consumer goods company … and, the second largest U.S.-based Series A ever.”
According to the company, it brings their total funding to date to more than $900 million.
Perch has acquired more than 70 brands to date and said it has many agreements in the pipeline.
E-commerce aggregators like Perch have been attracting investor attention for a while now, but investments have heated up in 2021, with companies in this sector raising over $1 billion.
Only last Monday, we reported that Heyday raised $70 million in Series B funding.
Be a F*n Viking
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Rick Martinez says, "I’ve been unemployed and unemployable."
This article is about how Martinez ignored the typical startup advice and made well over 6-figures in his first full year as an entrepreneur.
That was 21 years ago.
Martinez's story provides both new startup founders and more established entrepreneurs alike with valuable insights on how to set yourself up for success.
The analogies and idioms he uses are actionable and relatable.
When addressing why you should burn boats, not bridges, he includes this gem:
"There’s a Viking tale about a Norse king who took a band of warriors across a long, deep fjord. Upon arriving, he set all the boats on fire. His group of marauders looked at him with “WTF” looks, and his response was simple. There is no turning back. Only victory will suffice."
Martinez pulls no punches.
On the subject of mindset, he states:
"If you need to read a paragraph, chapter, or book about the mindset an entrepreneur needs, then you’re not ready. And likely, you aren’t cut out to be one."
Read on and enjoy.