Together with

Gm. You might notice that the fresh powder section below is looking a little skimpy today. No, it’s not because it started intermittent fasting—there just aren’t any new funds to report this week.

We’ve entered the summer doldrums and coffers are not getting topped up as frequently as before. Hopefully we’ll be back to regularly scheduled programming by Wednesday.

FRESH POWDER

Looking at three funds that recently topped up their coffers.

P.S. If you want access to every fund we've ever shared in this section, refer one person to Homescreen using your unique referral link.

CITIES

SF and NYC are on two different paths

Celtics vs Lakers. Apple vs Android. Elon vs Parag. There are certain rivalries that transcend time and space.

Now, San Francisco vs New York, is fast joining the ranks of legendary feuds. Both are hotbeds of American startups that were heavily affected by the pandemic, but as an article in the SF Chronicle asked last week, why has NYC bounced back quicker than SF?

Let’s dig into it

• Real Estate projects: NYC took Marc Andreessen's “It’s time to build,” to heart. Construction didn’t slow down during the pandemic, rather, major commercial properties were finished during 2020-21 including One Vanderbilt, NYC’s fourth-tallest tower whose 1.7 million square feet of office space is now 98% leased. Contrast that to SF where almost no new office development took place during the pandemic and major deals like Pinterest’s new office were actually canceled.

• Available housing: SF and NYC are the two most expensive cities to live in in the US, but NYC has been far more proactive about its housing situation. When old office space falls vacant, NYC developers have been quick to convert them into extra housing. SF, on the other hand, has struggled under a mountain of bureaucracy to alleviate its housing crisis. The result? NYC has enough inventory to accommodate the rash of people moving to the city in recent months (as shown in the graph above).

• Workers are back in the office: Remote work has become a fact of life, but NYC-based businesses have been a tad firmer than SF in ordering their workers back to the office. Office attendance is expected to rise to 49% next month according to a survey conducted by the Partnership for New York City. Now, NYC is benefiting from the bustling economic activity new office workers bring while SF businesses grow increasingly desperate for the return of workers.

Bottom line: No, SF is not dead—it’s still home to more unicorns than anywhere else in the world. But as NYC’s quick recovery demonstrates, SF may struggle to return to form if workers don't return to work.

HEALTH

Poop tracing

Polio has arrived back in NYC prompting health officials to rely on a peculiar source for intel on the disease: poop.

Known as wastewater surveillance technology, public health officials are looking to the sewers to track the severity of the outbreak in the city.

The backstory

For years health officials have studied pathogens in wastewater to monitor the rise of deadly diseases, notably with polio in the 1940s and hepatitis A in the 80s.

• Most recently, wastewater has lent a third eye to Covid tracking. The US launched the National Wastewater Surveillance System in September of 2020 to help keep an eye on virus as people stopped testing as much.

• Now, the increased resources are coming in handy as both monkeypox and polio arrive in the city.

Zoom out: With cases still countable on one hand and 86% of NYC children under 5 vaccinated for polio, it’s certainly not panic time yet.

TOGETHER WITH BITS

Build wealth bit by bit

Yes, bear markets suck. But sitting on the sidelines doesn’t make them any better.

That’s why Bits is so nice—it invests your money into crypto automatically, so you can put your wallet to work in any market.

Bits invests your spare change into crypto through automatic dollar roundups. Think of it as leaving a tip for your future self.

It takes the emotions out of investing allowing you to build wealth on autopilot.

Start using Bits. Your future self will thank you.

QUICK HITS

Seed Round

Stat: "Screenagers" are fast becoming even more addicted to their phones, and more aware of their addiction. 46% of US teens say they use the internet “almost constantly” compared to just 24% in 2014. And most of the time they're watching videos. YouTube, Instagram, and TikTok are dominating Facebook and Twitter when it comes to teen attention. While the youths more digitally connected than ever, 53% say they know they use social media too much. Can’t wait to see these numbers as they relate to metaverse usage in 20 years.

Story we’re watching: After dragging out a weeks-long review process, Apple blocked Telegram’s new “Telemoji” release which lets users send animated emojis. While it seems silly to fight over trivial details like animated emojis, it once again reaffirms how much control Apple has over the App Store. Apple didn’t want animated emojis so Telegram had to bend the knee. Guess Telegram users will have to old school and start firing out :) once again.

Rabbit hole: The financial circle-jerk (SBF)

WHAT ELSE IS GOING ON

• Apple plans to start introducing ads on pre-installed apps like Maps, Books, and Podcasts.

• Elon Musk tweeted out that Tesla has now produced over 3 million cars.

• Researchers at Stanford and Nvidia are collaborating on VR glasses that look more like spectacles than bulky headsets.

• Uber will be shutting down its free loyalty program later this year.

PICK THAT PITCH DECK

This startup is worth $40 billion now, but its early pitch deck wasn’t exactly a masterpiece. Can you guess which company created it?

MONDAY MUSIC

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

• Artist: Polo & Pan (Spotify)

• Playlist: The Best of HAUSER (Spotify)

• Song: Viral (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

Peleton: 784 people (13%)

Calm: 90 people (20%)

Truepill: 175 people (33%)

FOUNDERS CORNER

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

🥇 Resources to become an expert in web3

🍦 11 soft skills for real project success

✍️ 9 tips to write like an Amazonian

PICK THAT PITCH DECK ANSWER

The deck belonged to Canva. We imagine it's undergone a redesign in the subsequent years. Most likely using....Canva.