After Christchurch, Reddit bans communities infamous for sharing graphic videos of death

In the aftermath of the tragic mosque massacre that claimed 49 lives in Christchurch, New Zealand, tech companies scrambled to purge their platforms of promotional materials that the shooter left behind. As most of the internet is now unfortunately aware, the event was broadcast live on Facebook, making it one of the most horrific incidents of violence to spread through online communities in realtime.

As Twitter users cautioned others from sharing the extraordinarily graphic video, some Reddit users actively sought the video and knew exactly where to look. The infamous subreddit r/watchpeopledie was quarantined (making it unsearchable) in September 2018 but until today remained active for anyone to visit directly. The subreddit has a long history of sharing extremely graphic videos following tragic events and acts of violence, like the 2018 murder of two female tourists in Morocco.

After Thursday’s shooting, the subreddit became extremely active with users seeking out a copy of the video, [...]  read more

Startups Weekly: Spotify gets acquisitive and Instacart screws up

Did anyone else listen to season one of StartUp, Alex Blumberg’s OG Gimlet podcast? I did, and I felt like a proud mom this week reading stories of the major, first-of-its-kind Spotify acquisition of his podcast production company, Gimlet. Spotify also bought Anchor, a podcast monetization platform, signaling a new era for the podcasting industry.

On top of that, Himalaya, a free podcast app I’d never heard of until this week, raised a whopping $100 million in venture capital funding to “establish itself as a new force in the podcast distribution space,” per Variety.

The podcasting business definitely took center stage, but Lime and Bird made headlines, as usual, a new unicorn emerged in the mental health space and Instacart, it turns out, has been screwing its independent contractors.

As mentioned, Spotify, or shall we say Spodify, [...]  read more

Reddit is raising a huge round near a $3 billion valuation

Reddit is raising $150 million to $300 million to keep the front page of the Internet running, multiple sources tell TechCrunch. The forthcoming Series D round is said to be led by Chinese tech giant Tencent at a $2.7 billion pre-money valuation. Depending on how much follow-on cash Reddit drums up from Silicon Valley investors and beyond, its post-money valuation could reach an epic $3 billion.

As more people seek esoteric community and off-kilter entertainment online, Reddit continues to grow its link sharing forums. 330 million monthly active users now frequent its 150,000 Subreddits. That warrants the boost to its valuation, which previously reached $1.8 billion when raised $200 million in July 2017. As of then, Reddit’s majority stake was still held by publisher Conde Nast that bought in back in 2006 just a year after the site launched. Reddit had raised $250 million previously, so the new round will push it to $400 million to $550 million in total funding.

It should [...]  read more

The nation-state of the internet

The internet is a community, but can it be a nation-state? It’s a question that I have been pondering on and off this year, what with the rise of digital nomads and the deeply libertarian ethos baked into parts of the blockchain community. It’s clearly on a lot of other people’s minds as well: when we interviewed Matt Howard of Norwest on Equity a few weeks back, he noted (unprompted) that Uber is one of the few companies that could reach “nation-state” status when it IPOs.

Clearly, the internet is home to many, diverse communities of similar-minded people, but how do those communities transmute from disparate bands into a nation-state?

That question led me to Imagined Communities, a book from 1983 and one of the most lauded (and debated) social science works ever published. Certainly it is among the most heavily cited: Google Scholar pegs it at almost 93,000 citations.

Benedict Anderson, a political scientist and historian, ponders over a simple question: where does nationalism [...]  read more

One-year-old Bracket Capital is already an investor in Lyft, Bird, Airbnb and Coinbase

Bracket Capital quietly emerged onto the scene in 2017 and has since invested in 23 technology startups, including the likes of Lyft, Bird, Airbnb and Coinbase. Today, the founders are coming out of stealth, ready to talk about what’s gone on behind the scenes.

Bracket is led by Yalda Aoukar and Jihan Bowes-Little, co-founders and managing directors based in Doha, Qatar and Los Angeles, respectively. The two relative unknowns, in venture at least, have had successful careers at private equity groups and hedge funds, recently opting to steer their careers in different directions.

“Venture is one of the best performing asset classes of the last 35 years,” Aoukar told TechCrunch. “If we look at the economic cycle at the moment — investors are bracing for a downturn.”

“Venture, by its nature, is quite defensible as an asset class. It’s the best hedge that we can take vis-a-vis any market volatility or potential correction that the markets may be poised for.”

Bracket has [...]  read more