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50 Cent filed for bankruptcy in 2015⦠but he forgot he had 700 bitcoin.
[The Hustle]( Fri, Jan 26
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Tales from the crypto⦠part IIÂ
Yeah, we know. The Hustleâs been pretty going pretty hard on the cryptocurrency news lately.
But what can we say, thereâs just just too much going on in the coin world to ignoreâ¦hereâs a quick rundown of whatâs goinâ down.
Telegram is planning a $2B ICO
The [encrypted messaging app]( is launching an absolutely massive initial coin offering this month, and theyâre [assuring investors]( that theyâll âsolve some of the blockchain worldâs thorniest problems.â
Like any good ICO offerer, Telegramâs got a nice little [white paper]( on their plans, and theyâve reportedly already locked down [$500m]( from big firms like Benchmark Capital. Their grand plan: to create a new blockchain platform, as well as their own currency.
Robinhood is throwing their feathered cap in the ring
Launched in 2013, the commission-free, mobile-based stock app already has 2m users; now, it wants to add [Bitcoin, Ethereum]( and 14 other cryptocurrencies to its marketplace.
Founders Baiju Bhatt and Vladamir Tenev think that people are being price gouged on platforms like Coinbase (which charge from 1.5 to 4% per transaction), and theyâre promising â[zero-fee]( trading.
50 Cent forgot he had $8m in Bitcoin
When rapper 50 Cent released [Animal Ambition]( back in 2014, he decided to âstay with the timesâ by letting his fans buy the album with Bitcoin.
Back then, a Bitcoin was worth a measly $660 (a far cry from its current $11k-plus value), and the sum of the fractions fans paid with amounted to around 700 coins. For more than 3 years, the half-dollar man completely forgot about them â he even [filed for bankruptcy]( in 2015.
But recently, he rediscovered his trove -- and those 700 coins are now worth around $8m. Â "I'm a keep it real,â he [wrote]( of the discovery, in an Instagram post. âI forgot I did that s***."
Iâll take you to the crypto shop
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CNN suits canât cage Casey Neistat
Back in November 2016, [CNN had dropped $25m]( on digital storytelling platform, Beme -- mainly to acquire its creator, celebrity vlogger Casey Neistat.
Well, just over a year later, [CNN and Neistat are pulling the plug]( on the project, citing, in so many words, âirreconcilable differences.â
At the time, the move seemed revolutionary: CNN planned to incorporate Neistatâs vlogging expertise into their [new digital strategy]( to reach âcord neversâ (people whoâve never had a cable subscription).Â
But, even Neistat couldnât work his magic
In an [interview with BuzzFeed News]( Neistat says he struggled to figure out a âviable strategyâ for âBeme Newsâ.Â
Not to mention the good olâ red tape that comes with working for a massive corporation: Bemeâs 22-person team has [produced just 40 videos]( since the acquisition -- most less than 10 minutes long -- many of which have gained fewer than 100k views apiece (a fraction of the multiple millions Neistatâs personal vlogs get on a daily basis).Â
So, like any frustrated creative, Neistat went rogue
He started âdisappearingâ on CNN and producing videos on his [personal YouTube channel]( just to âbe able to yield something.â
Neistat acknowledges that neither party was benefiting from the partnership, and itâs a cautionary tale for big companies trying to harness web content: Solo creators are used to doing what they want, when they want -- the antithesis of big cable productions.Â
And, at the end of the day, all the resources in the world canât make a mismatched partnership productive.
[Neistat out](
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Cloud computing company Snowflake raises $263m â and itâs gonna need it
Cloud-based data warehouse service Snowflake just announced a gigantic investment round today, bringing in [$263m]( on a unicorn post-money valuation of $1.5B.
The round was led by a slew of high-profile VC firms -- and with total funds raised now topping off at [$473m,]( the company will likely set its sights on an IPO in the near future.
So⦠what the heck is Snowflake?
Simply put, the [5-year-old company]( is a digital warehouse service that uses cloud-based technology to store data for some of the largest companies in the world.
While it might not be as sexy as, say, a âsmartâ doorbell or raw-water startup, Snowflake is actually [changing the world, man](... At least, in the B2B space.
Now that most companies are at least somewhat familiar wIth the benefits of the almighty cloud, many are packing up the entire legacies of their companies and looking to move them to the cloud.
And they need all that money behind themâ¦Â
Because they have some pretty stiff competition
With their crazy funding and new unicorn street-cred, Snowflake has the opportunity to be one of the few startups in the space to go head-to-head with gigantic cloud computing competitors like Microsoft, IBM â even the company they were built on, Amazon Web Services.
But Snowflakeâs CEO, Bob Muglia, [believes]( the company is going to expand further than just storing legacy workloads. Like the expansion of the Salesforce platform, he foresees companies âbuilding businesses on top of the data stored in their warehouse.â
Talk about one giant hard-drive.
[Data on data](
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The league that nobody asked for: the XFL is back brotherrrr
For months now, rumors have swirled that wrestling tycoon Vince McMahon wants to bring back the notorious sports dumpster fire that was The Xtreme Football League.
Yesterday, suspicions were confirmed: According to McMahon himself, the XFL is [back]( babyyy -- itâs slated to debut in 2020, and McMahonâs touting it as âfootball reimagined.âÂ
Hmm, didnât go too well the last time around...
Billed as âsmash-mouthâ football back in 2001, the XFL was poised to be every barbed-wire-tatted, football-lovinâ bar brawlerâs favorite thing on earth.
With classic tidbits like bikini-clad women sloshing around in hot tubs behind end zones, and players donning cool nicknames like âHe Hate Meâ and âBig Daddyâ on the backs of their jerseys, could ya blame them?????
(Un)fortunately thatâs not what happened. Despite putting up [monster ratings out of the gate]( and executing on their promised mix of sex, violence, and no holds-barred showmanship, the league swiftly failed. Â
At one point, one of their games was the lowest-rated prime-time show ever among the big three networks.
But⦠here we are
Say what you want about McMahon, heâs undeniably a businessman. And since itâs pretty terrible timing to bring in a more violent football league, heâs been outspoken about making the XFL as âsafe as possible.â
He was light on details during the press conference but did manage to outline a few [highlights](
- 10-game seasonÂ
- Two-hour game times
- Players with criminal records banned from playing
- Players not allowed to take a personal stance on social issues on the playing field
Soo⦠just regular football?
[Stop trying to make âXFLâ happen](
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friday shower thoughts
- If you are converting decimals to fractions, you are missing the point.
- Your belly button is just your old mouth.
- If highways have left and right shoulders, then we drive on the neck.
- Chevy is greatly overestimating how much people care about JD Power awards.
- If procrastination was an Olympic sport, Iâd participate in the next one.
- via [Reddit](
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Lindsey Quinn
MANAGING EDITOR
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Wes Schlagenhauf
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Sam "Seriously guys, what's blockchain?" Parr
EDITORIAL EAVESDROPPER Natasha D'Merchandise
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