Live Long and Prosper

Keith Teare
11 min readJun 24, 2022

That Was The Week #315

Netflix announced 300 layoffs and Brex pulled the rug on its small business customers. But LocalGlobe raised $500m, InFarm announced two new farms and eBay bought NFT firm KnownOrigin. Making the right choices will help us all to live long and prosper. Web 3 seems to still be a good choice.

Contents

Live Long and Prosper

  • Web 3 use cases by Packy McCormick

Essays of the Week

  • Facebook and Sheryl Sandberg by Connie Loizos
  • The Web3 Marketing Stack by Tomasz Tunguz

Good News of the Week

  • Sequoia incubator to increase investment size
  • LocalGlobe raises $500m and Re-Brands
  • Series B’s are holding up
  • 13 emerging Unicorns in May
  • InFarm opening two more huge growing centers
  • EBay buys NFT Company KnownOrigin
  • Substack generates 33% of new subscriptions internally
  • Electric Hydrogen raises $198m

Bad News of the Week

  • Accel shrinks deal sizes
  • Netflix lays off 300 employees
  • Brex apologizes for customer blunder
  • Sequoia is “down bad”

Startup of the Week

  • Slack

Tweet of the Week

  • Amir Shevat

Editorial

Another week full of ambiguity — just to keep me on my feet. The easiest thing to do at times like this is to filter out everything disagreeable and only focus on events that confirm one’s biases. That however would be short-sighted and lead to bad outcomes.

So I am keeping the Good News/Bad News format of this newsletter in order to guarantee balance.

But, I want to focus on NFTs here, and more broadly Web 3. The lead this week is provided by Packy McCormick from Not Boringwho writes a lengthy essay about the likely persistence of NFTs.

Today, as it stands, NFTs are a real

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Keith Teare

Founder at SignalRank Corporation. Publisher of That Was The Week, Founder at archimedes.studio. Founding TechCrunch investor