Reddit's IPO, Bitcoin's Rise, and SVB's Collapse

Reddit's IPO, Bitcoin's Rise, and SVB's Collapse

Reddit IPO

  • Reddit plans to offer 22 million shares at $34 per share, valuing the company at around $6.4 billion.
  • Reddit will allocate 8% of the shares to its employees, existing shareholders, and moderators, with no lock-up period.
  • Reddit's IPO is seen as a bellwether for other technology companies looking to go public.
  • The success of Reddit's IPO will depend on the book building process and the firmness of demand across the price range.

Bitcoin and Cryptocurrency

  • Bitcoin has reached a new record high of $72,000 per token.
  • The London Stock Exchange will soon accept applications for exchange-traded notes (ETNs) backed by Bitcoin or Ether.
  • Institutional adoption in the US is driving Bitcoin's market structure towards weekday trading.
  • Ophelia Snider, Co-Founder and President of 21Shares, focuses on on-chain metrics and fundamentals rather than the spot price when analyzing Bitcoin.
  • There is an uptick in demand for altcoins, including Solana, from institutional investors.
  • Institutional clients are looking for utility and real-world applications of blockchain technology, rather than just speculation.

Robotics and AI

  • Covariant has developed a new Robotics Foundation Model (RFM) called Kibo, which provides robots with human-like reasoning abilities.
  • Covariant's RFM is trained on a vast dataset collected from a large fleet of robots deployed in various industries.
  • Covariant's CEO, Peter Chen, highlights the ability to communicate with robots in natural language as one of the key advantages of their RFM.

Tech Industry News

  • PDS and Chinese stocks are showing positive movement despite geopolitical concerns.
  • Former President Trump's comments on CNBC suggest a potential negative impact on TikTok's ban, benefiting Facebook and Instagram.
  • A year after the collapse of Silicon Valley Bank, the tech community has adjusted with alternative lending options emerging.
  • Elon Musk's lawsuit against OpenAI alleges breach of contract and failure to fulfill its original mission.
  • Vinod Khosla criticizes the lack of support from other venture capital firms during the crisis.
  • Access to working capital for startups varies depending on the industry, with AI startups still having strong access despite market corrections.

Entertainment and Media

  • The speaker discusses the recent popularity of the movie "Oppenheimer" and the lack of attention given to "Maestro" and "Barbie."
  • Universal Pictures and Disney were successful in managing to count and turn out the goods.
  • The speaker expresses surprise at the high viewership of the movie and suggests that it may have gotten the most views in several years.
  • The speaker questions the absence of Apple TV+ in the discussion and compares it to Netflix.

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