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The DL - 20 Slides on 2020, DALL·E, and What Happens When Bitcoin Hits $150K

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Happy Monday! Can you believe it's only the second week of 2020? If you’re one of the 19 new DL rea
 
January 11 · Issue #76 · View online
The DL
Happy Monday! Can you believe it’s only the second week of 2020?

If you’re one of the 19 new DL readers who joined last week, welcome to the best weekly newsletter about tech, startups, and investing in the Pacific Northwest! 😄

This week’s issue looks at…
  • The DL’s 20 Slides on 2020
  • The latest OpenAI demo: DALL·E
  • What happens when bitcoin reaches $150K

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The DL's 20 Slides on 2020
Lots of pretty charts
Lots of pretty charts
If you want to get caught up on what happened in the PNW startup and tech markets last year, here’s my 20 slide summary of what happened in 2020. Some of the highlights:
  • We saw 20-25% fewer deals than previous years because of COVID, but Series A valuations still went up
  • There are 100+ VCs who have invested in 5 or more PNW startup deals over the last 5 years
  • Last year, the aggregate value of all PNW startups was $37B
  • The PNW minted more unicorns (10) last year than the first six years of the decade, combined
  • The total market cap of PNW companies that went public last year is $34B

… and a lot more in the full slide deck here!

Dalí + WALL·E = DALL·E
OpenAI released another incredible demo last week with DALL·E, a version of GPT-3 that is trained to generate images from text descriptions.

Last year, GPT-3 showed that we can use language to instruct a neural network to generate text, and now DALL·E uses the same approach to manipulate visual concepts through language. Some of the things it can do:
  • Modify attributes of an object (give a brick the texture of a porcupine),
  • Draw multiple objects (draw a penguin wearing a hat, gloves, and shirt),
  • Visualize perspective (zoom in or rotate around an object),
  • And a bunch of other stuff like create illustrations, do zero-shot reasoning, and apply geographic and temporal knowledge

You should definitely go check out the demos (scroll down the page and click on the black boxes). And please LMK about any and all startup ideas you come up with for DALL·E!

Other stuff Dan's talking about
Love that the richest people in the world are meme-ers now
Love that the richest people in the world are meme-ers now
📈 Bitcoin Analytics - The market cap of all crypto hit $1T last week, which is pretty cool (there is ~$10T of gold in the world). Here’s an analysis from CoinMarketCap on how many people own more than 1 BTC
👔 WFH Prediction - People love work from home, but the WSJ says 40-60% of companies have seen increased work hours and employee burnout during WFH. My prediction: WFH becomes the new “unlimited vacation days”
📰 NYT’s Favorite Facts - Goldmine of random trivia, with everything from “Japan’s legal system has a 99% conviction rate” to “A quarter-mile increase in distance from a polling booth reduces voting by 2-5%”
🏎️ $TSLA - Last week, Elon Musk became the world’s richest person (I think that means he has to buy a house in Medina now, right?). In celebration, here is ARK’s latest TSLA price target report. TLDR: $7,000 by 2024

Please hit reply! (Or subscribe or forward!)
About me: I’m an investor at Madrona Venture Group, a Seattle-based venture capital firm that has been early partners with companies like Amazon, Smartsheet, Snowflake, Apptio, and Redfin.
If you have thoughts, questions, or comments, hit reply! If you’re new, check out some of the DL’s top articles from the last few months:

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