Weekly newsletter on technology, startups, and venture capital.

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Written by Chris McCann, General Partner @ Race Capital. More about me.

• The AI wars are heating up between two of the largest data companies in the world, Databricks and Snowflake. Expected more focus on AI within the enterprise via the Lakehouse. 
• A huge decision in the Web3 world in Ripple’s case against the SEC about XRP being a security or not. The ruling deemed XRP to not be a security but their sales to institutional investors being security sales, a bit of a nuanced case but an overall win for the ecosystem.
• Despite all of their shortcomings, Facebook has an incredibly strong moat in social and has increased the engagement of its user base since it was founded, and has a higher DAU/MAU ratio than its early days. 
• A contrarian take on the AI hype cycle, covering ideas such as: open source models will not win, large incumbent tech companies will not be the primary winners, and only a small number of new startups will win this new market.
• A playbook/guide on how to do great work (in any field) by Paul Graham. 
• A look into how AI companies are currently generating revenue and the business models behind AI startups.
• Report on the latest SaaS trends. A few interesting tidbits include: Average SaaS spend per employee is ~$10K, and the average department uses 87 SaaS apps.

• By Company: Databricks, GoodNotes, Zeet, Polysign, Opaque, Lightning Labs, OtterTune, and more
• By Role: Engineering, Data Science, Product, Design, Operations, Finance, Legal, and more
• By Location: SF Bay Area, New York, London, and Remote
• Browse more open roles across our portfolio at Race Capital's Portfolio Job Board.

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