Thursdays at Abnormal Returns are all about startup and venture capital links. You can check out last week’s links including a look at why private equity is becoming an exit option for software companies.
Quote of the Day
"The tech industry’s culture of providing abundant perks has cultivated a level of employee entitlement that I find shocking."
(Anonymous Office Manager)
Chart of the Day

How does having a top 10 VC in a seed round affect follow-on rounds.
Fintech
- How Monzo became the challenger bank in the UK. (cnbc.com)
- Ramp, Divvy and Brex are battling to re-make the corporate credit card while Amex looks on. (msn.com)
- Public.com is a self-described social investing app that aims to give people the ability to invest in companies using any amount of money — commission-free. (news.crunchbase.com)
Venture
- Semil Shah, "Dilution isn’t the end of the world for an angel investor (using his or her own money) or a very small fund (which can get into the carry quicker), but it can be disastrous for funds as small as $10M and up." (semilshah.com)
- Revisiting the math of how much capital the venture capital industry can reasonably take on. (avc.com)
- Global corporate venture capital was at a record level in 2019. (barrons.com)
- The traditional Silicon Valley/VC model is not the only way to build a fast-growing, thriving company. (hbr.org)
- The SEC wants to up the amount a company can crowdfund to $5 million, up from about $1 million under current rules. (wsj.com)
Companies
- MailChimp has acquired has acquired Courier, a small London-based media company focused on educating entrepreneurs and small businesses. (forbes.com)
- Quibi has raised $1.75 billion before its launch. (wsj.com)
- A majority of the 100 most promising AI startups are based in the US. (business.financialpost.com)
Startups
- The myth of the youth startup CEO persists despite evidence to the contrary. (marginalrevolution.com)
- Why startup CEOs should read "The Great CEO Within" by Matt Mochary. (tomtunguz.com)
- Any a handful of US metro areas gained tech employment share. (vox.com)
- It's a good time to be a startup in the UV sanitizing space. (news.crunchbase.com)