Gm. After a brief respite, Homescreen is back.

Call us Tom Brady the way we faked that retirement.

FRESH POWDER

Looking at three funds that recently topped up their coffers.

APPS

X marks the spot for Elon

If there is one thing we’ve learned from the past 6-months it's that Elon Musk and Twitter saga has had enough drama to fill 10 seasons of The Bachelor. But after tweeting out that he wants to create a super app called X, we may finally have the answer to why Elon has finally decided to complete his Twitter purchase.

What is “X” the everything app?

The concept of a super app gained popularity in Asia where Tencent's WeChat grew to provide everything from messaging and social media services to peer-to-peer payments and banking. The suite of services has attracted over 1 billion monthly users and is an integral part of daily life from transportation to e-commerce. Grab has made similar inroads as a super app in Southeast Asia.

Now Elon wants to try it in America. Elon’s interest in Twitter could be the first step in the world's richest man gaining ground on the most powerful inventions to come out of the Chinese internet. But can he actually pull it off?

It’s unlikely

First off, WeChat started as a messaging app which is totally different from Twitter which operates as a social media platform. It makes layering on other functionalities a little more difficult. But putting those differences aside, Musk does have one leg up in turning Twitter into a super app—Tesla.

WeChat maker Tencent has desperately been trying to team up with or launch an EV maker in order to have an inside track in the race to turn smart vehicles into entertainment, shopping, and advertising assets. Elon could spice up the X app ecosystem with EV integration at a much deeper level than even WeChat could.

Bottom line: While it's fun to think about Elon spinning up a super app—he does own the X.com domain name after all—it's unlikely the regulatory environment in the US would support such a project. Nor does it guarantee the US public wants such a deeply verticalized app.

AUTO

Rivian reverses course

Rivian, the once high-flying EV maker, has run into trouble now that it's actually started to actually make EVs. It's recalling nearly all of its vehicles to address a potential problem with its truck's steering control.

• The backstory: The recall was issued when it was discovered that a fastener may have been installed incorrectly. While Rivian estimates that 1% of its vehicles are impacted by this defect, its recalling 13,000 of its trucks according to a regulatory filing.

The recall comes at a really, really bad time for the EV maker which had just started to ramp up production to hit its year-end target of 25,000 vehicles. Considering the company's stock is already down 67% so far this year, it can ill-afford another slip up.

Zoom out: Recalls for automakers aren't exactly out of the ordinary, but for Rivian any defects have an outsized impact. Now, pressure from consumers and Wall Street will continue to mount. 6

QUICK HITS

Seed Round

Stat: For months, signs of a funding slowdown have been popping up. Now, it appears all those doom-and-gloom Twitter threads may have been on to something. Venture funding in Q3 totaled just $81 billion, down 33% quarter over quarter and a whopping 53% ($90 billion) compared to last year.

Story we’re watching: Netflix and chill just got a little more complicated. For the first time ever, a Netflix big-budget movie is getting a limited theatrical release across the US. AMC, Regal, and Cinemark have all agreed to show the new Knives Out sequel in 600 theaters as both sides of the entertainment spectrum are trying to cash in on the follow-up act to the original Knives Out film. Oftentimes at odds with the theater-going experience, it looks like Netflix is ready to experiment in order to drum up excitement for a premium asset that will eventually live on the streaming service.

Rabbit hole: False memory implantation in adults is easy (Brain Pizza)

WHAT ELSE IS GOING ON

• Kanye West returned to Twitter for the first time in nearly two years…and was promptly banned for an anti-semetic post.

• Twitter’s edit button officially rolled out for Twitter Blue subscribers.

• Elon Musk announced the start of Tesla Semi production, with first deliveries expected in December.

PICK THAT PITCH DECK

This NFT-related startup was last valued at $4 billion, but has had a rocky go of it recently. Can you guess which startup this slide belongs to?

Note: The light blue rectangle has been added to block out the company’s name and logo.

MONDAY MUSIC

The best work jams to write, focus, and build your company to.

• Artist: Basicboy (Spotify)

• Playlist: All Nighter (Spotify)

• Song: Kiki (Spotify)

P.S. If you have any songs or artists you love, feel free to reply to this email and send ‘em our way.

LAYOFFS TRACKER

Notable layoffs this week

Impossible Foods: 52 people (6%)

BioMarin: 120 people (4%)

Spotify: N/A (5% of podcast staff)

FOUNDERS CORNER

The best resources we came across this weekend that will help you become a better founder, builder, or investor.

📞 What someone learned from listening to 1,000 B2B sales calls

🧠 The good and bad of procrastination

🗓 Why dates and times seem to lose their meaning

PICK THAT PITCH DECK ANSWER

The slide is from a Yuga Labs pitch deck.