Disruptiv Newsletter: Reddit 🤖 FTX 🚔 Amazon 🛍️ and more

Welcome to the Disruptiv newsletter! You're about to get this week's top tech and innovation insight that we saw this week. Enjoy! [disruptivflow-header] Hello FlowBankers Welcome to the Disruptiv newsletter! A weekly aggregate of relevant tech-focused quick takes. Saturday 27th January, 2024 [Start trading](113/cXx8Z04/VVHVJc2pJhr2W3nVN-F71XqN-W5r_q0D5cgLn6N1zSXsl2-ZVTW6N1vHY6lZ3lLW7zYmBM1h-CcFW82Cy9K6kfj1pW78jkVy3Gg4nBW6LRGpW5B5zj-W4gPHcw5xT_p-W4WMb9M38PrhTW7wTjpt2L5ySkVtP6gq2XYc8CN6mYZxRqyVszW4TjffK4mC243W4q2_DL6-5bDhW1gRCh34cXy64W7TFrLw621lTgW23XHdl4G0lLYW2jfyCZ3nzsnSW8Fd-3-8sTfVYN8LnNtmNycVKW74YkXb1Z-ZF_W99YnLY62mhrwW35_hgl2DWnmdW53lJWY9hq-DWW5G5Dl52BMSXKf574MdM04) FlowBank tech articles 📚 What is an IPO? [shutterstock_20420359_IPO Cover.jpg](113/cXx8Z04/VVHVJc2pJhr2W3nVN-F71XqN-W5r_q0D5cgLn6N1zSXrM2-ZVTW5BW0B06lZ3mNW7f7RdJ49jLPmW8x0xBg4r87yhW8-lLtF79ZWkYW6VYZp36Svd70W8-3wrL4jC105W3mt70n2wJ-CmW5z26803_flD0W3NcTXp86GWJlN5KTVzK_G32xW7QJsvP28NDB6W8_gfV45KVgY6W3Zn9FW520hGRW8H7lJ16zpjbhW4hFWH29fGy26W62vrkT1jJN5DW2YgS2z8yvjfcW5rfvnK8y3QM6W6rwxR85JvM8lf2pbwp604) Feeling left out of the loop of the IPO buzz? The jargon, the hype, and the complexity can be overwhelming but you can fix that right now. Gain complete clarity with our guide to what is, it breaks why companies choose to go public and list on a stock exchange, the pros and cons of doing so and lists famous past IPOs and potential future listings. [Read me](113/cXx8Z04/VVHVJc2pJhr2W3nVN-F71XqN-W5r_q0D5cgLn6N1zSXs22-ZVTW69sMD-6lZ3p0W58s55G2sYhrDW2fT1m-3r5TBNW7CK4ky6V2N5hW1HMLwW5bW1tLVM1RPq7vx63pVhZG6R4d6jnWW7sn3nb3-J4W3W7bwbzN7jpSfqW4qcWXg4gLcR0W8Jt6K_5t7xhLW3YQt-g8l6vlQTPccZ2S5wZdW6th7vn8Sv9SzW1RhQ4Y2jqYMHW6nRdFp2yNFzFW2cZC3X8z6sZjDTvplx1VvjW6sdsPj12nc4VW6-3P0x2HZT42W729mnX5KRnGpf3T6-sj04) Big Technology 🍎 - Reddit's shares dropped almost 25% in two days, ending the week below their first day's closing price following their IPO last week. The company's stock fell to $49.32 from a high of $65.11 earlier in the week, affected by a negative report from Hedgeye Risk Management and news that CEO Steve Huffman and COO Jennifer Wong sold significant portions of their shares. This selling activity raised questions about the company's valuation and insiders' confidence in its future growth. - Amazon announced a massive investment of $2.75 billion in the AI startup Anthropic, marking its largest venture investment to date. This investment adds to a previous $1.25 billion, aiming to bolster Amazon's position in the competitive AI technology race. Anthropic, known for its generative AI model and chatbot Claude, competes directly with OpenAI's ChatGPT. The deal underscores the tech industry's growing focus on AI, with Amazon maintaining a minority stake in Anthropic without board representation. - Apple has set the dates for its annual Worldwide Developers Conference (WWDC) from June 10 through June 14. The event, which will be livestreamed, is anticipated to showcase Apple's latest software updates for its range of products and could potentially reveal its long-awaited artificial intelligence strategy. This announcement comes after CEO Tim Cook hinted at significant AI investments and upcoming AI-related announcements earlier in the year. VC + Startups 🎯 - Metaview, an AI assistant that helps teams eradicate admin and toil from their hiring process, has raised €6.4 million in a funding round led by Plural. Coelius Capital and existing investors - - The Mobile-First Company, a French startup on a mission to build a suite of B2B Apps to helps business globally finally use simple solutions, launched with €3.5 million in pre-seed funding led by Lightspeed Venture Partners and Emblem. - Bavest, an innovative B2B German fintech, announced that it has completed a successful financing round of €1.1 million. The round was led by a group of renowned investors and will help Bavest accelerate its growth and further solidify its position as a leading provider of AI-based financial infrastructure for businesses. Crypto 👾 - Bitwise has filed an application with the SEC to offer a spot Ethereum ETF, joining other companies in the race to bring the first Ethereum spot ETF to market. The proposed "Bitwise Ethereum Trust" would hold Ethereum and may stake a portion of the fund's assets to earn additional rewards. Traditional financial firms like BlackRock and Grayscale have also filed proposals for Ethereum spot ETFs, reflecting the demand for such products. - The sentencing of FTX founder Sam Bankman-Fried to 25 years in prison has led to the creation of meme coins such as "Sam Baseman Fraud" and "Som Bonkmon Fraud." These tokens experienced massive price surges of up to 35,000% before plummeting in value. Law and regulation 🕵️ - The UK Treasury's Technology Working Group has released a report on the potential use cases of fund tokenization, exploring its role in collateral for money market funds and onchain investment. The report highlights how tokenization can enhance the asset management sector and outlines a foundational tokenization model for UK firms. It also discusses various use cases, including optimizing money market fund collateral management. - Sam Bankman-Fried, the co-founder and former CEO of FTX, has been sentenced to 25 years in prison. He siphoned over $8 billion in customer funds for personal expenses and investments. Bankman-Fried was found guilty of fraud, money laundering, and conspiracy, and his defense team proposed a reduced sentence of 5-7 years, while the government advocated for 40-50 years. Disruptiv Figure 📊 Cocoa Outpaces Nvidia in 2024 Surge In a surprising twist for 2024, while Nvidia's stock soared by over 80% amid the AI-driven market rally, cocoa has outshone it with a staggering 120% price increase. The surge in cocoa prices, pivotal for chocolate production, has been propelled by a significant supply shortfall, with futures reaching beyond $10,000 per metric ton. This shortage stems from adverse weather and disease impacts on the world's leading cocoa producers, Ivory Coast and Ghana, leading to a dramatic reduction in yields. The International Cocoa Organization forecasts a supply deficit of 374,000 metric tons for the season, pushing prices to remain high. As a result, consumers may soon face higher chocolate prices or reduced product sizes as producers adjust to the escalating costs. Source: Statista [32008] [INSTAGRAM](113/cXx8Z04/VVHVJc2pJhr2W3nVN-F71XqN-W5r_q0D5cgLn6N1zSXrM2-ZVTW5BW0B06lZ3m0W6yLl4D6RGPy3W259k2t4TCc2ZVzzPQs1_wlnTN2L2fkCxdSc2N4WYZHSG7BgWW7pmch75WtVZ6W2cN_9F94rnl_W8LM5QD2TljZPVDdBnP8qnyQkW7whrnd1lNpZRW1DSZDb2301q8W7Qc7Ws8RZXY7W5Jmc9D22djg4W3dQCBY1kDxdBW1kFshh5FPF5hW5lM9Rr32tnX2N6PG4XJXFd5GW7wCwwf2H7wbGdJx89b04)Highlights Click [here](113/cXx8Z04/VVHVJc2pJhr2W3nVN-F71XqN-W5r_q0D5cgLn6N1zSXrM2-ZVTW5BW0B06lZ3n_N4HXqf-sJ2TKW27JKHP8sv_YnW97v-lf5ByD8gW8Dhvzp2-B4llW8Vgh1Z8TJd7wW8-Crv93qQF5PW6-2SYh1drR9CMSfZRJ9WfJ1W7Rc76Y51ryxnW4Y5k345XxnGTW7QrJc77b-F3ZW1WBF9p2yQ3-CW8vG6Yt44N4SsW80vvGR28YMTfW7n30Pz6pR_xQW3hBF2N5M9zR3W2Tbgqr2TlSBYW64mDqH4-pXv1f6v1D5q04)to see our page. [ambass] Don't forget to... 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