We missed you last week! After avoiding COVID for 2.5 years, we finally got hit….pretty hard. 0/10, do not recommend. It’s great to be back, and we hope you & your families are healthy.

trending 📈

📱TikTok tracks keystrokes. New research from an ex-Google engineer shows that TikTok can track all keystrokes users make in the app’s web browser. Translation: if you click on a link from TikTok, the app can see what you type and where you go. TikTok parent company ByteDance responded that this feature is for “debugging, troubleshooting, and performance monitoring,” and they are not actually collecting data from it. This kind of tracking would be very non-standard for a major app.

📽️ MoviePass makes a comeback. We never thought this day would come - but MoviePass will rise from the ashes this fall! As a refresher: MoviePass went under in 2019, as the company’s $10/month charge to view unlimited movies proved to be unsustainable. The company’s co-founder, Stacy Spikes, bought MoviePass out of bankruptcy to execute the re-launch. Details are TBD, but the service will reportedly have three pricing tiers of $10, $20, and $30/month with different amounts of credits.

🚴‍♀️ Peloton hits a speed bump. Peloton had another tough week, with shares falling more than 20% after the company reported a $1.2B loss for Q2. Peloton’s connected fitness member count was flat - but more concerningly, gross margin on its hardware fell from 12% last year to -98% now. How? Higher delivery and storage costs, as well as charges related to the company’s recalls. On the positive side, Peloton started selling on Amazon this week, the company’s first partnership with an outside retailer.

📷 Instagram tries to BeReal. Meta confirmed that Instagram is testing IG Candid, a feature where users get a notification at a random time and have to post a Story photo in two minutes. If this sounds familiar, you may be one of the 10M+ daily active users of BeReal, a VC-backed social app. BeReal launched in 2020 in France, but took off in the U.S. this year. IG has a long history of copying features from other apps (ex. Snapchat Stories) - we’ll see who wins this battle 🥊

what we’re following 👀

Our partner Kimberly Tan shares how a cold application led to her role at a16z.

Meta is preparing to release a new VR headset this October.

Why is eBay buying a trading card marketplace?

How Gen Z is using “Find my Friends” as a social app.

Justine Moore @venturetwins

A few weeks ago, I asked tech Twitter if founders wanted a "Data Room 101." The answer was a resounding yes! With input from our amazing consumer team @a16z, I'm excited to publish our guide for early stage startups on @future. The Insider’s Guide to Data Rooms: What to Know Before You RaiseExamining a startup’s virtual data room is an important part of investors’ diligence process. Here’s what data to include and what to leave out.future.com

August 25th 2022

13 Retweets155 Likes

New post alert! Justine published a guide on data rooms for consumer startups.

What is a data room? It’s a collection of documents that a startup shares with prospective investors during a fundraise - it should help these investors get up-to-speed on your business. Many investors will ask to see your data room at the end of the first call, if they’re interested in learning more.

If you haven’t put together a data room before, it can feel intimidating. This guide aims to demystify the process by outlining what you should and shouldn’t include in a data room. It lays out the key metrics that investors want to see for each major type of consumer startup (marketplace, social, subscription, e-commerce), and illustrates how to calculate them (e.g. LTV / CAC, payback period, contribution margin).

The post wraps up with FAQs from founders and some red flags that might raise questions from investors. What should you include in a data room if your company is pre-launch? And is it okay to “cherry pick” your strongest metrics to highlight?

I hope this guide is a helpful resource for anyone who is starting to put together a data room and wants to get off on the right foot. If you’ve put together a data room (or are thinking about doing so soon), I’d love to hear your thoughts / feedback - feel free to weigh in on this thread!

jobs 🎓

a16z - Seed Relationship Manager* (Remote)

Spotify - Biz Ops & Strategy Analyst (Remote)

Timescale - Chief of Staff* (Remote)

Lattice - Analyst (Remote)

Root Ventures - Analyst (SF)

Google - Associate Product Manager (SF, NYC)

Playground Global - Investment Associate, Cybersecurity (Palo Alto)

Adams Street Partners - Growth Equity Analyst (Menlo Park)

Adim - Financial Strategist* (LA)

TrialSpark - Ops Strategy & Analytics Associate (NYC)

Comcast Ventures - Associate (NYC)

True Beauty Ventures - Associate (NYC, Miami)

internships 📝

Delphia - Research Intern (Remote)

Lucid Software - Revenue Ops Intern (Remote, Utah)

Spring - Data Science Intern (SF)

Chan Zuckerberg Initiative - Summer 2023 Investment Analyst (Redwood City)

Nationwide Ventures - Summer 2023 VC Intern (Columbus, Ohio)

Rose - Business Analyst, Investment Research Analyst, Software Eng Interns (NYC)

Coinbase - Business Ops & Strategy Extern (NYC)

BoldVoice - Growth Marketing Intern (NYC)

Yieldstreet - Content Creator Intern (NYC)

ShelfLife - BD Intern (NYC)

Volition Capital - Summer 2023 Intern (Boston)

puppy of the week 🐶

Meet Bella, a two-year-old Great Pyrenees who lives in Cape Cod.

She enjoys hanging out at the harbor, enjoying the breeze at the beach, and protecting her house (in the photo on the right, she's on the lookout for a deer).

Follow her on Instagram @capecod.greatpyrenees!

All views are own. None of the above should be taken as investment advice. See this page for important information.