🗒️ The cofounder of Fanhouse explains why she resigned from the startup and what she would have done differently if she started it today — including not raising VC funding
- Creator Rosie Nguyen started Fanhouse in 2020 with two other cofounders.
- She said the strings attached to venture-capital funds and cofounder dynamics led her to quit.
- Nguyen explains what she would do differently as a founder if she were building the startup today.
- Rosie Nguyen is in the middle of a breakup, only it's with a company and not a romantic interest.
When the 25-year-old influencer and Fanhouse cofounder announced on social media she was resigning from the creator startup on July 12, a few hours before news broke that it sold to a company called Passes, the industry was stunned.
Fanhouse creators took to Twitter to voice their concerns about how this could impact the platform's content guidelines, which Passes founder and CEO Lucy Guo addressed.
Cointelegraph: Venture capital has been a key driver for myriad startups in the blockchain space. Founders know how competitive it can be to secure valuable VC funding that can keep the lights on and employees paid during the critical first days of a new project.
In a new interview series, Cointelegraph sits down with executives at some of the most active funds investing in the crypto space to understand their perspectives, hear their successes and failures, and know what gets them excited about a new project in the Web3 space.
This week, Cointelegraph spoke with Shima Capital’s founder and managing general partner, Yida Gao. He founded Shima Capital in 2021, and the fund has since been very active, investing in nearly 100 projects. Gao is also an adjunct professor at the Massachusetts Institute of Technology.
Tech EU: Unconventional Ventures, a Copenhagen-based venture capital firm focusing on investing in early-stage startups led by underrepresented founders in Europe, has announced the second close of a targeted €30 million fund.
The firm focuses on the climatetech, healthtech, edtech, and fintech verticals, and this second close is aimed at continued Pre-Seed and Seed investments.
According to TechCrunch, the firm is, “now passed the ‘half-way’ close” of the fund.
Crunchbase News: Global venture funding settled around $22 billion in August 2023, up around 19% month over month but down 16% from the $26.2 billion invested in July 2022, Crunchbase data shows.
Last month’s startup funding total was on par with what’s emerged as the new normal for venture capital. So far in 2023, funding has averaged just over $23 billion per month as active investors have cut back their funding pace at each stage.
Late-stage funding increased year over year for the first time in 18 months, but was still below the peak for this year, Crunchbase data shows.
Early-stage funding almost halved and seed funding was down by around one-third from a year ago.
Top 3 book summaries this week 📚
Fierce Conversations by Susan Scott
Far too often in business and life things are left unsaid. In Fierce Conversations, Susan Scott gives us 7 principles and 3 tools that we can use to say the things that need to be said, and finally have some real talk in the most important areas of our lives.
Duct Tape Marketing by John Jantsch
The world is full of businesses of all sizes, large and small. But few of us can afford Super Bowl scale commit-ments. Money is tight. What can we do?
That’s where John Jantsch comes to our rescue. Like duct tape, our marketing needs to stick.
The Five Dysfunctions of a Team by Patrick Lencioni
In his book, The Five Dysfunctions of a Team, Patrick Lencioni takes a deeper look at the what these common dysfunctions are and how they impact teams. In this summary we'll uncover each of the five dysfunctions and in turn, explore what you can do as a leader to address them so that you can achieve your greatest goals.