Figma got acquired for $20B 💰

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👉 These are the crazy things I learned last week.

1/ 💡 Startups are about growth and market penetration, not revenue. That's why we keep seeing huge companies kneeling before smaller Startups (or straight up getting crashed).

This time Adobe decided to acquire Figma for $20B 💰 in order to stay relevant in the designer space.

I am not saying that revenue is bad, but we live in times when capital is available, and everyone tries to be a monopoly.

2/ Do you know Blind?

Blind is an incredible social network for people in tech that provides an anonymous forum and community 👤 for verified employees to discuss issues. Users of Blind are grouped by topics, company, and their broader industry.

If you want to know what happens in the Tech industry from the insight, you need to be on Blind.

👉 For example, check here and here what people are discussing about the Figma acquisition.

3/ A crypto founder has been jailed for 40526 years.

The story is pretty standard in the crypto space by now:

▶️ A guy starts an exchange.

🚀 Exchange gets a lot of people's money.

😶‍🌫️ The guy leaves with people's money.

Do you think that crypto is heading to be heavily regulated?

4/ The latest book I am reading is called "Die with Zero" and it's a hot book in the financial independence community.

🔎 The book's premise is that we are conditioned to accumulate money for a future date, and that time either never comes or we cannot physically use the money anymore.

Here is an example:

You are 20/30/40 years old and want to go on a trip around the world, but you keep postponing it because you need more money. You are now 90, and you have all the money in the world but guess what? That trip won't be that enjoyable anymore.

Money has different value depending on your age as you cannot use them as efficiently anymore.

Buy experiences that give you "memory dividends" like the stuff you want now! 💯

5/ The #EthereumMerge happened last night, slashing the energy requirements of the blockchain to almost nothing.

About The Merge

1. Ethereum Mainnet uses proof-of-stake, but this wasn't always the case.
2. The upgrade from the original proof-of-work mechanism to proof-of-stake was called The Merge.
3. The Merge refers to the original Ethereum Mainnet merging with a separate proof-of-stake blockchain called the Beacon Chain, now existing as one chain.
4. The Merge reduced Ethereum's energy consumption by ~99.95%.

This is fantastic news! Read more on the official Ethereum website 📰

That's all for now. See you next week! 🚀

-- Jon V (as in Victory)

- Fri 16 September 2022