Musk’s Twitter bid, European hashish survey, borrowing in opposition to NFTs • TechCrunch


The USA is the world’s largest hashish market, however as extra European nations take into account legalizing leisure use, traders are in search of alternatives in manufacturing, distribution and retail.

Very similar to the U.S., legal guidelines governing this plant-based drug differ throughout the EU, which suggests entrepreneurs should navigate difficult authorized frameworks at the same time as they compete with an infinite black market.


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However for these with a excessive tolerance for danger, beginning up in a largely unregulated trade is a simple selection: Europeans spend an estimated €9 billion per 12 months on unlawful hashish, and the marketplace for unlicensed medical hashish is predicted to succeed in €354 million in 2022.

For our newest investor survey, we contacted eight investors who are actively signing checks for cannabis tech companies and requested them to inform us what they’re in search of, how they measure success, and one of the simplest ways founders can get their consideration.

  • Todd Harrison, founding associate and CIO, CB1 Capital Administration
  • Yoni Meyer, associate, Casa Verde Capital
  • Viken Douzdjian, managing associate and co-founder, Argonautic Ventures
  • David Bonnier, founding associate, Enexis AB
  • Will Gibbs, principal, Octopus Ventures
  • Oliver Lamb, co-founder and funding supervisor, Óskare Capital
  • Leah Fletcher, founder and director, Arbutus Innovation Centre
  • will.i.am, investor, Sanity Group

Thanks very a lot to Frederique Dame at GV and Glen Evans from Greylock for becoming a member of me yesterday at TechCrunch Early Stage in San Francisco.

I spoke to Frederique in regards to the journey to discovering product-market match, and Glen and I mentioned hiring prime expertise in a aggressive surroundings. I’ll share a recap of each conversations on TechCrunch+ subsequent week.

On Tuesday, April 26, at 2:30 PT/5:30 PT, I’m internet hosting a Twitter House with Sophie Alcorn, a Silicon Valley-based immigration legislation lawyer who writes the weekly “Pricey Sophie” column for TechCrunch+.

We’ll talk about latest developments in U.S. immigration legislation, H-1B visas and different points which might be related to the tech trade earlier than taking viewers questions, so I hope you’ll be a part of us.

Thanks very a lot for studying, and have a unbelievable weekend.

Walter Thompson
Senior Editor, TechCrunch+
@yourprotagonist

How social commerce is bridging Southeast Asia’s infrastructure gaps

Stepping Stones bridging River

Picture Credit: António Sousa / EyeEm (opens in a new window) / Getty Photos

Southeast Asia is house to the world’s quickest rising e-commerce markets, however at the same time as cell and web penetration within the area explodes, giant parts of many nations’ rural areas are left grossly underserved.

Because of the diverse panorama, in some rural cities, infrastructure is so fragmented and poor that primary requirements can value thrice as a lot as in city areas.

One reply to that is social commerce, which leverages social media to let companies liaise with native resellers to market and promote their merchandise whereas additionally empowering smaller companies and underserved communities, writes Amit Anand, founding associate at Jungle Ventures.

“Most social commerce platforms don’t require any upfront funding, and resellers can depend on startups’ provide chains, funds infrastructure and logistics networks. This lets them concentrate on leveraging the belongings they do have: their social circles.”

Pricey Sophie: I didn’t win the H-1B lottery. What are my subsequent steps?

lone figure at entrance to maze hedge that has an American flag at the center

Picture Credit: Bryce Durbin/TechCrunch

Pricey Sophie,

I earned my grasp’s diploma in enterprise analytics final 12 months, and have been working for an organization whereas on OPT since then.

My employer entered me within the H-1B lottery final month, however I haven’t been chosen. I heard that my diploma now qualifies as a STEM subject, making me eligible to proceed working below OPT.

How can I keep within the States?

— Astute Analyst

Is Elon Musk undervaluing Twitter in his unsolicited bid?

twitter pattern

Picture Credit: Bryce Durbin / TechCrunch

Elon Musk’s $43.4 billion provide to take Twitter non-public didn’t paint a goal on a struggling firm: the social media platform’s income on observe to hit $6 billion in 2022.

That progress, taken along with the truth that its inventory traded above $60 for many of 2021, may imply Musk’s $54.20 per share provide may disappoint many long-term shareholders, reported Alex Wilhelm.

“If you happen to already owned Twitter inventory, you believed in its development story, else you’d have left when the CEO chair turned over final 12 months,” writes Alex.

“That signifies that Musk is successfully arguing that present Twitter shareholders are unhappy and wish to money out, not anticipating to see 2021 costs for his or her firm return anytime quickly.”

Why EV startups ought to’ve hit the brakes earlier than merging with a SPAC

Vibrant purple powder explosion

Picture Credit: Jonathan Knowles (opens in a new window) / Getty Photos

It’s clear why so many EV startups merged with particular function acquisition corporations: SPAC money can be utilized to scale up operations and fund R&D, key issues for electrical automobile corporations.

However since their debuts, Nikola, Canoo, Lucid Motors, Lordstown Motors and Faraday Future have seen their valuations deflate like a punctured tire. Making issues worse, they’ve additionally drawn the eye of the Securities and Alternate Fee.

“Whenever you fail to reside as much as your projections, you actually get hammered,” mentioned John Loehr, a managing director at consulting agency AlixPartners. “That’s when traders begin submitting lawsuits.”

Blue-chip NFT homeowners discover different makes use of as gross sales decline

Image of the physical artwork of "Bored Ape #2967" created by Bored Ape Yacht Club, left, and "Mutant Ape #1933" created by Mutant Ape Yacht Club, both available for sale as an NFT, displayed at a CoinUnited cryptocurrency exchange in Hong Kong, China, on Friday, March 4, 2022.

Picture Credit: Paul Yeung / Bloomberg (opens in a new window) / Getty Photos

Blue-chip NFT tasks like Mutant Ape Yacht Membership, Azuki and Bored Ape Yacht Membership are hovering in worth, however the world gross sales quantity for non-fungible tokens fell from $4.6 billion in January to $2.4 billion in March.

Many lesser-known tasks have turn into stranded belongings, however homeowners of high-value NFTs are borrowing in opposition to their tokens “to achieve liquidity and, in flip, generate extra yield elsewhere or buy extra belongings,” studies Jacquelyn Melinek.

“Whereas total NFT gross sales is likely to be down, the top-tier tasks nonetheless retain appreciable worth,” mentioned Stephen Younger, CEO of market NFTfi.

“Discovered” receives Webby nomination for greatest know-how podcast

Discovered, TechCrunch’s podcast the place founders share the tales behind their startups, has been nominated for a Webby in the perfect know-how podcast class.

Cast your vote earlier than April 21 to assist it win the Individuals’s Voice Award!





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