🗓 What Happened on Tech Twitter in October
☕️ Morning Brew and Paystack get that $$$, 🇺🇸 The election run-up debates got heated, 🤬 Bad board members were exposed, 📈 The next crypto bull run began
Yo! ✌️ I’m Brett! I am a founder and former Cognitive Science researcher. Social Studies is a semi-weekly newsletter for people building great products for humans. It includes recaps of what happened on Tech Twitter every week plus deep analysis using frameworks from Psychology, Economics, and the other Social Sciences.
Sorry for the delay, yall! Been running around Tulum for the last month. Now that I’m back stateside, consistency will be back as well!
October was quite an eventful month! Here’s a quick rundown of the top stories.
☕️ Morning Brew and Paystack get that $$$ - Two huge acquisitions shined the spotlight on our two favorite things to talk about - newsletters and Stripe.
🇺🇸 The election run-up debates got heated - A debate about Prop 22 and the future of the gig economy got Tech Twitter riled up.
🤬 Bad board members were exposed - A scathing email from Ryan Caldbeck to a seemingly comically terrible board member started an important conversation on how to evaluate board members.
📈 The next crypto bull run began - Bitcoin broke $14K and several meaningful crypto projects reached wider adoption. Many were saying that this is the real deal this time.
☕️ Morning Brew and Paystack get that $$$
Daily business news media company, Morning Brew was acquired by Business Insider for $75M+!
Biggest deal about this deal? They only raised ~$750K in total.
Naturally, everyone had a hot take to share.
The most important point is that not all newsletters are created equal. Morning Brew nailed the daily business news media play, which is significantly more massive opportunity than the typical weekly research and analysis newsletters that everyone seems to be starting these days.
There are still tons of huge opportunities.
Stripe also acquired Nigerian payments startup, Paystack in October. Huge news for the African startup ecosystem.
🇺🇸 The election run-up debates got heated
In weeks before the election, the biggest discussion in tech was around Prop 22, which “Exempts App-Based Transportation and Delivery Companies from Providing Employee Benefits to Certain Drivers.”
Uber and Lyft were strong advocates for it, as well as a number of their drivers, but a few people spoke out against the bill.
A few people shared their voting guides.
🤬 Bad board members were exposed
Delian dropped a scathing email from Ryan Caldbeck to one of his board members. It’s worth the full read.
It got awkward.
This naturally started a larger conversation about board members where more questionable board members were exposed.
📈 The next crypto bull run began
It’s that time of the cycle again. Crypto is headed for another bull run similar to 2017. BTC, ETH and other cryptocurrencies saw explosive growth in October.
What’s new this time? Big companies are putting Bitcoin on their balance sheet (Square bought $50M) AND more importantly, actually building stuff people use (Reddit is testing turning their karma feature into an Ethereum token).
Linda Xie @ljxieReally exciting how much positive news there's been in crypto recently incl: - JPMorgan banking Coinbase & Gemini - Paul Tudor Jones' public support of Bitcoin - Square Cash App's major growth in bitcoin revenue - Reddit's beta testing of Eth tokens There's a lot of momentum 🔥
NFTs (non-fungible tokens), which allow people to create and sell unique digital items (e.g. photos, music, etc) are also having a field day. RAC
Social tokens are also a growing new category. Social tokens are basically cryptocurrencies tied to creators and communities. I launched one in October called $THANKS.
As we prepare for the next bull run, it’s important to remember… take it easy!
🤔 What else happened?
Here are a few more big stories from October.
If you enjoyed this, feel free to buy me a coffee - oat milk lattes ftw.
Check out this hilarious TikTok duet!