Daily Crunch: Twitter removes live audio chat after CEO joins Space with banished reporters

Daily Crunch: Twitter removes live audio chat after CEO joins Space with banished reporters

elon musk twitter bird in cage

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Fridaaaaaaaay! Today we particularly enjoyed the Equity podcast team’s 2023 predictions on the future of building, crypto, and AI.

Meanwhile, good luck to Alex (who mostly looks after TechCrunch these days, but he used to write the Daily Crunch and still occasionally groans at our awful jokes) as he embarks on parenthood and is taking a couple of months off to do whatever new parents do.

Still working on your holiday shopping? This is a great gift idea to give yourself and other founders in the early stages and future. Grab a Founder pass to TC Early Stage 2023 for just $75 by registering with this link before 11: 59 p.m. PST on December 31.

Finally, we are excited to see the end of another week. Crunch Towers is ready for some well-deserved R&R — see you next week! — Christine and Haje

The TechCrunch Top 3

Startups and VC

Despite shrinking investment into startups in 2022, venture capital funds of all sizes are still being raised. However, not many of these are led by solo general partners (GPs), and although that trend is on the rise, even fewer are led by women or people who don’t come from venture capital, Anna writes. That makes Nichole Wischoff something of an exception: Her solo venture capital firm Wischoff Ventures closed a second fund of $20 million, a sizable increase from her first $5 million fund. Her target is to invest in 25 to 30 U.S. startups at the pre-seed or seed stage.

Five more to take you into the weekend… And if you need a creative boost, this stop-motion animation music video will probably do the trick.

The rules of VC are changing: Here’s what founders should be considering in the new era

“Growth At All Costs” is a fairytale made possible by cheap capital that helped venture capitalists set expectations over founders for years.

Similarly, everyone needs 18 to 24 months of runway is a nice motto, but if it takes three times as long to raise a round as it used to, it may no longer be good advice.

” These ‘VCisms,’ born out of an era that was prosperous, have permeated boardrooms all over the world,” writes Rebecca Mitchem, Neotribes Ventures partner in TC .

In a data-driven piece that looks at post-money valuations, deal size and dilution going back to 2012, Mitchem says we’re now heading into a “growth at reasonable costs” era.

Founders have two options: they can continue to reduce their ownership by raising fat rounds or they can choose to grow slower, leaving VCs with a larger share over time.

” While it may seem counterintuitive, considering the current market environment, the equity value for all parties — founders, investors, and employees — in this scenario in the more conservative growth scenario is higher,” says Mitchem.

Two more from the TC group:

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Big Tech Inc.

Meta has been shutting down a lot lately. Facebook’s parent recently shut down its live shopping feature in October, and now Aisha writes that it is shutting down its Super app in February. If you don’t know what it is, she writes that it was originally created to offer a virtual meet-and-greet experience similar to what you would experience at a real-life event such as VidCon or Comic-Con.

We have five more:

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