Munch.
Welcome back to the real world, weekend warriors. 🤙 I’m here to tell you that it is, in fact, Monday. Rise and grind.
I’m Jeremy, your Cereal Intern. Not yet subscribed? Come and join the movement 🙏
We’ve got some big news to cover from the past few days! Grab your cereal and let’s get talking.
🥄 Today's Spoonful
Facebook is acquiring Giphy for 400 million BIG ones. 😅
Giphy had previously shunned Mark Zuckerberg and co. in 2015. So, just like Ms. Montana here, we were shocked to hear of the surprise acquisition.
According to various sources, Giphy will be integrated into Instagram while remaining open to the wider social ecosystem (Snap stans, breathe easy 😌). Still, many peeps have voiced concern over Facebook’s growing reach, citing antitrust and antiprivacy concerns. This comes after the company reoriented in 2019 to focus on privacy and direct messaging.
I do have to say, it’ll be nice to rebuff the bots in my DMs with some tasteful GIFs.
But the acquisition also means that Facebook will now have its hand in some competitors’ apps. What are ya up to, Marky Mark?
Mozilla announces its ‘Fix the Internet’ startup lab.
In other news, Mozilla recently announced that it is doubling down on its MVP Lab, after the success of the program earlier this year. The incubator is focused on investing in companies that will ‘fix the internet’. This after Kim Kardashian’s bare cheeks broke the internet in 2014. We have not recovered since.
China and the US go back and forth on Huawei.
Last week, the Trump administration extended THAT telecom ban signed in 2019. The order prevents American companies from using telecommunications equipment from companies that ‘pose a national security risk’ (i.e.: the US’ big no-no list 🙅♂️).
Note: Huawei is a big, big player in smartphone manufacturing. On Saturday, they reached out to the US to say: “Yo, wtf?” Updates to come.
Uber is in talks to acquire Grubhub. 🥢
One might say the entity would be uber-big. How big? 55% market share in the US food delivery ecosystem, to be exact. This comes after Uber recently announced that it would be laying off more than 3500 employees in a move to limit damages it’s incurred since toilet paper became commodity #1 💩. Consolidation could prove masterful, with demand for both Grubhub and Uber Eats spiking since March. I’ll stick with cereal, thanks.
And last but not least, the Accelerated Liftoff List! 🚀
The popular Liftoff List was published last week, with Atomus winning the pitch competition. Accelerated shared some fun facts about this year’s class, including a 🔥 stat about Dorm Room Fund (shameless plug: I’m Head of Growth over at DRF!):
Of all the startups selected, 56% had all-undergrad founders and 36% had at least one female founder.
Dorm Room Fund invested in 36% of the companies on the list. Phew.
🥣 Cereal of the Day
Yeah. Big weekend. Luckily, I still had time to cover an awesome FinTech startup. Ladies and gents… Stilt.
When my grandfather came to the US from the Philippines in the 90s, he had high hopes for himself and his family. When asked, I think he said something about an American Dream? 🤔
I wouldn’t be here now without gramps — he bootstrapped his way into a good job and made money moves. Along the way, he and his family overcame some tricky obstacles, including prejudice, a lack of formal education, and an entirely new way of life.
One of the toughest obstacles any immigrant has to face is the US’ convoluted financial system. Even ‘model immigrants’ can suffer from a lack of credit history and impossible financial standards.
Enter: Stilt. Stilt is a borderless bank that helps immigrants and the underserved build credit and access resources they otherwise wouldn’t be able to reach. Right now, they do that through specialized personal loans. In short, they’re leveling the financial playing field. 💯
Fun fact: Stilt was created during a Startup Weekend. That’s right. Dust those crumbs off your pajamas and get to work.
Check out Stilt here!
Coolness meter: grandfather-approved ✔️
🍳 A Healthy Serving of...
You’ve read this far? Sheesh. Looks like I did something right.
Each week in this segment, I’ll be sharing lessons and wisdom I’ve learned from my past internships.
Important note: In no way do I claim to be a ‘startup expert’. However, I am a serial (*ahem* cereal *ahem) startup intern. There’s much to be learned from experience 😊
So without further ado, here’s lesson #1: Look past your role.
Do you remember Scooby-Doo’s absurd nephew, Scrappy-Doo? Yeah, this guy:
He’s every startup, just in… mini Great Dane form? Stay with me here.
Startups are spunky. They demand constant attention, frequent pampering, and some bailing out when the going gets tough. Startups are scrappy.
You have to be scrappy, too (Scrappy-Too?).
Don’t let your role limit your impact, especially when you work for startups. Seek out opportunities or projects where you can maximize your impact on the company. Learn to wear three, four, and maybe even five hats. It’ll benefit you in the long run.
Now, I’m not saying be like Scrappy-Doo. (You probably don’t want to do that.) But look past your role and be proactive. You and the CEO will thank you for it!
Alright — that about covers it! Thanks for joining me on the first of many newsletters in this awesome journey of startups and GIFs.
If you haven’t already, hit subscribe to get me in your inbox every Monday, Wednesday, and Friday. I promise to help you start your days with some well-informed smiles.
And if you enjoyed what you read, tell your friends. Pretty please. I don’t bite!
Munch.
The Cereal Intern.001