The SEC Is Bad At Social Media

Somebody "compromised" the SEC Twitter account and sent a banger

Author

Adam Hardej
January 10, 2024

Another day another wild price swing. The internet is reeling from a Tweet that was sent from what has officially been called a “compromised” SEC account. Meanwhile, the Rabbit R1 AI-device seems to have won CES and Andreessen is back in the “damn, they raised how much?” game with their recent backing of PhotoRoom. Also, join us live tomorrow to hear an expert discussion of the recent Carta drama and the future of private market liquidity. RSVP here.

SEC says it did not yet approve bitcoin ETF, X account was compromised

“The SEC will work with law enforcement and our partners across government to investigate the matter and determine appropriate next steps relating to both the unauthorized access and any related misconduct”

Investors have been anxiously waiting for the approval of Bitcoin ETFs for what feels like months now. In the past few weeks, it feels like any day the announcement could happen, and today it finally did. Except it didn’t. Someone had compromised the official SEC twitter account.

The Rabbit R1 is an AI-powered gadget that can use your apps for you

“In spirit, it’s an idea similar to Alexa or Google Assistant. Rabbit OS can control your music, order you a car, buy your groceries, send your messages, and more, all through a single interface.”

It’s seems that Humane finally has a competitor that may even beat them to market. Rabbit R1 is the second Ai-powered hardware tool that is eventually going to try and take on the IPhone. The Rabbit R1 comes in at price of only $199.

Sources: PhotoRoom, the AI photo editing app, is raising $50M-$60M at a $500M-$600M valuation

“Most categories of apps, she [Olivia Moore from a16z] wrote, are still up for grabs; and within the popular area of AI image-based tools, apps like PhotoRoom, in her opinion, have a shot at success.”

It’s seems that AI fundings are not going to stop anytime soon. Photoroom is likely a top 10 AI application that has already generated over $50 million in ARR. With the app still consistently near the tops of the charts in it’s category, we may see a unicorn form sometime in the near future.

Honorable Mention Links

Carta and the Future of Liquidity

Tune in Thursday (tomorrow) at 3pm EST to learn more about what happened with Carta and what the future of private markets liquidity will look like.

​We're joined by an incredible group of panelists with deep knowledge of both Carta and the secondary market:

Arjun Sethi is the co-founder and Chief Investment Officer at Tribe Capital. He's an investor in Carta and has served on their board since 2017.

​Hari Raghavan was previously COO at Forge and he wrote one of the most widely shared breakdowns of the recent Carta situation. Hari is also GP at The Autopilot Fund.

​Javier Avalos is the co-founder and CEO of Caplight which is an active secondary trading platform. He previously served as SVP of Marketplace at Forge.

​This event is brought to you in partnership with Sacra.

Demo Days Are Back!

Tune in on January 25th at 3pm EST to watch 5 exciting founders present what they’re building to a great group of panelists and a live virtual audience.

Want to present? Apply here! (fundraising not required)

The 70s themed computer ads will continue. Not optional.

Letters From The Editor

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Talk soon,
Adam

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