CM Weekly: BaaS Shortfall, AI Voice Stack, Underwriting Valuations

On Thursday June 13th, I'm hosting a private fireside chat with Priyanka Vergadia, the Developer Relations Lead at Google Cloud, for discussion all around developer GTM for startups.

Will be primarily with our portfolio founders but opening up the event for a select number of founders utilizing developer GTM, with open source communities, or generally selling to developers. More info on the event is here.

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Written by Chris McCann, General Partner @ Race Capital. More about me.

??? Interesting Reads

• In the latest banking as a service (BaaS) saga, Synapse the failed BaaS provider ledger does not match up to Evolve’s ledger (the underlying bank) causing a $85M shortfall of customer funds.
• A16z released their thesis on the AI Voice stack and voice apps, highlighting Play.ai as one of the leading full stack players with many of the voice apps relying on their underlying models.
• The winners of the AI categories will take decades to play out, and the winners will ultimately have to complete on multiple compounding innovations over time?
• Long form thoughts on startup risk and how that factors into how VCs underwrite valuation decisions.
• A broader contrarian thoughts on how LLMs will change software development by looking at what internet platforms did to content platforms.

?? Startup Jobs

• By Company: Databricks, GoodNotes, Zeet, Opaque, Lightning Labs, OtterTune, and more
• By Role: Engineering, Data Science, Product, Design, Operations, Finance, Legal, and more
• By Location: SF Bay Area, New York, London, and Remote

Browse more open roles across our portfolio at Race Capital's Portfolio Job Board.

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