Wow, I made 22 angel investments in 2021 (most I've made in a year by far): into fintech, travel, commerce, social, real estate, edtech, hardware, wellness, adtech, and future of work startups.
My first investment of 2022 is in web3.
Bullish. 🚀
Creating a post to explain what I'm building for the @Replit Buildathon!
A collaborative writing project where you can add story blobs (e.g., an action, an idea, a quote) as a node to our "great tree of narrative", with AI filling in the prose details.
Our story begins as follows:
"An ash I know, Yggdrasil its name,
With water white is the great tree wet;
Thence come the dews that fall in the dales,
Green by Urth’s well does it ever grow."
You can build upon the most recent node, or you can suggest an alternative by attaching your story blob to an upstream node. Over time, people can vote on the story blobs they like the best, and these will in turn "harden" and become the canonical branch.
@nchirls@asylumventures Congratulations! Such a thoughtful perspective on the state of startups, invention and creativity today, and where it might be headed. 🙌🙌🙌
This is a hard day for the startup community. I’ve got a ton of respect for SVB and deeply understand how stressful this situation is for their customers and employees.
We’ve been hard at work at Mercury to quickly onboard hundreds of customers and provide as much peace of mind as possible. I’ve gotten some questions today about Mercury and our partner banks that I want to address.
Mercury is profitable and growing. We work with partner banks who operate sweep networks to spread deposits across other large, trusted banks (e.g. Goldman, Wells Fargo). This allows us to offer $1M in FDIC insurance, and reduces the risk of any single point of failure.
Customers can also put money into Mercury Treasury to buy mutual funds, including US Gov-backed T-bills (accounts are SIPC-insured up to $500K). This is a great way to diversify where your excess funds are held.
Our partner banks are diversified across multiple industries, not just startups. They've stayed disciplined on investing throughout the low-rate environment & have kept their bond portfolio with short durations, meaning there’s no big mark-to-market risk.
We’re committed to giving all our customers, new and existing, an unparalleled banking experience that you can read more about here: https://t.co/SndBWLF2a8
DM/comment me if you have any questions or feedback.
@immad Thanks for posting this Immad. It’s a tough time for our community & ecosystem right now — it’s great to see leadership and empathy from leadership at companies like @mercury.