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The team who attended CES is back, and Brian’s CES 2023 debrief captures the top stories. Give it a read to make sure you didn’t miss anything major as you cozy up with your favorite book for the weekend! — Christine & Haje
The TechGround Top 3
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Tesla is once again slashing prices for US customers, with discounts of up to 20%, as Kirsten reveals. This new lower base price, which has gone below $55,000, will let purchasers be eligible for the federal tax incentive worth $7,500 – an important factor to consider.
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Mayfair, a Fintech startup, has launched its high-yield APR for businesses with the assistance of $10 million backing from investors like Tiger Global. Mary Ann will provide further insight into how Mayfair is able to present such an elevated interest rate.
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Should the antitrust ruling for Google be approved, Manish argues that it could create a hazard to national security as well as result in an increase of Android device prices in India.
Startups and VC
World View, developing stratospheric balloons for Earth observation and tourism, is still alive and heading to the public markets through a $350 million deal with special purpose acquisition company (SPAC) Leo Holdings Corp. II. The merger seeks to create an economy in the stratosphere – dubbed “the stratospheric economy” by World View.
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You’re not going to grow into your 2021 valuation
Image: nfsphoto/Getty Images (link opens in new window)
Founders attached to their 2021 valuations may be living in a fantasy, according to Irving Investors’ Jeremy Abelson and Jacob Sonnenberg.
For this TG++ post, they explain the mathematical process behind how long it will take companies to price their IPO at a flat round to match their 2021 valuations.
Companies with 75% YoY growth can discuss their 2021 valuation, but those growing at less than 30% may find it impossible to grow into it.
The TG++ team has three more members: Jack, Tom, and Joe.
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Big Tech Inc.
Sarah and Kirsten teamed up on an exclusive story that SmartNews, a Tokyo-based news aggregator, had laid off 40% of its staff in the U.S. and China.
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