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The Big One: Backlash brews against fully remote startups
As things continue to tighten across startup land, with layoffs, shutdowns and hard times amid tech's ongoing down cycle, is remote work next on the chopping block? It depends who you ask.
Marc Andreessen, co-founder of venture capital firm A16z, recently lamented how young workers, in particular, are disadvantaged by remote work.
“There’s this whole model that an entire generation grew up with that has all of the sudden been detonated," Andreessen said during his firm's American Dynamism Summit in comments that recently became public. "I think the idea of sitting in an apartment in front of the screen with DoorDash and Tinder is not a good life."
Executives pushing back on remote work certainly isn't limited to the startup world these days, but Bay Area Inno notes there could be some specific consequences for startup companies — particularly on the revenue front — that could fuel further backlash.
Read the full story: Is a backlash brewing against startups that are fully remote?
Startups to Watch
- Adam Lyons, the founder of Austin-based insurance comparison site The Zebra, raised an $18 million seed round for his newest venture, Really Communications. Really is a blockchain-powered phone network that lets people put mini cell towers in their homes or businesses to earn cash, Austin Inno reports.
- San Francisco startup Typeface emerged from stealth this week with its generative AI tech that helps businesses produce text and images for marketing purposes. Led by Abhay Parasnis, the former chief technology officer of Adobe, the startup raised $65 million from Google and Microsoft’s venture funds. Its software can create ad copy, press releases, social media posts and more marketing content, Bay Area Inno reports.
- Bonusly, a software startup based in Boulder, recently raised $19 million for its employee recognition platform that offers workers a monthly allowance to give small bonuses to their colleagues and recognize their contributions. The company's bonuses, which include gift cards and cash, are used by 3,500 companies including ZipRecruiter and Hulu, according to Colorado Inno.
- L.A. startup HUSSLUP is trying to diversify hiring in Hollywood with its platform that makes it easier for creative talent and behind-the-scenes workers to find jobs. Giving production executives the ability to search from a large, diverse talent pool, the startup wants to make the hiring process less about who you know, and more about the quality of the candidate. More than 40 major studios and independent production companies have joined, including NBC Universal, L.A. Inno reports.
- Phoenix startup OZZI originally built its mobile safety app for U.S. military service members and their families, working with the Department of Defense and other U.S. agencies. It’s now bringing its tool to consumers. The app provides travelers with information to stay safe on trips. It features safety ratings and maps for neighborhoods and can help travelers determine if their Airbnb is in a safe neighborhood, according to AZ Inno.
- Boston startup Egal wants to make period products easily accessible in school bathrooms. Built by MIT engineer Tom Delvin, the startup recently received $1 million in angel funding to bring its product to schools in the Boston area, with plans to expand, according to BostInno.
A fund to watch: New nine-figure war chest from 8VC
Venture capital firm 8VC has raised a whopping $880 million for its fifth fund, according to Austin Inno. It's among the largest-ever Texas-based venture funds. The firm has made around 400 investments since launching in 2015, moving its headquarters from San Francisco to Austin in 2020. 8VC has also invested heavily in Elon Musk's The Boring Co.
Weird and Wired: A device that knows when you've hit too many high notes
Chicago startup Rhaeos wants to alert singers, politicians and other professionals who rely on their voice when it’s time for a break. It’s a postage-stamp-sized device that adheres to the upper chest to sense subtle vibrations that are captured in data streamed to the users' phone so they can monitor their vocal activities throughout the day.
The startup, which just raised $10.5 million, comes from prolific inventor John Rogers, whose other products include a wearable patch that analyzes the chemistry of your sweat and was worn by Serena Williams in a Gatorade commercial.
This device isn’t just for singers on the last leg of an arena tour. The startup also believes it can be used by teachers, call center workers and other folks who use their voice for work, according to Chicago Inno.
