Hi there, 
 

Before we get to the data and research, we got some breaking news.

We’ve just learned of a successful startup that has an intense work environment. We’re also hearing that this environment is not for everyone.

We will continue to report on this important story as more facts come to light.

Now, let’s switch gears.

What is Web3? 

Beyond being tech Twitter’s new obsession, the term refers to the next iteration of the internet. 

But let’s back up first and define things a bit: 

• Web 1.0 was about consuming content (think the internet of the ‘90s and early 2000s)

• Web 2.0 (today’s internet) features consumer-created content centralized in platforms like Facebook and Google

• Web3 is where the internet gets decentralized

What’s that mean?

It means that big tech companies are no longer the main guardians of the web’s data, but rather blockchain tech enables data to be controlled and hosted collectively by users. 

In other words, apps built on the blockchain — like a social network, marketplace, or search engine — will enable users to participate, transact, and create without the need for an intermediary as in Web 2.0.

In some visions of Web3, the online experience will also be fundamentally different thanks to AI, which will make interactions between users and machines richer and faster. 

The Web3 movement has gained traction amid the rise of crypto and other key Web3 concepts like NFTs, DAOs, and DeFi. 

The proliferation of blockchain companies and flood of venture capital to the crypto/blockchain tech space haven't hurt either. 

While still in the realm of the crypto enthusiasts and eager VCs, the Web3 vision is of a smarter, more open, and user-centric internet. 

It’s worth studying what the nerds and freaks are talking about now as it will eventually become reality. Of course, there will be speculative and Ponzi-like excesses in the beginning when the grifters show up, but over the long term, bet on Web3.

King of coin

Coinbase generated $1.2B in net revenue in Q3’21, marking its third straight quarter of $1B+ revenues, but down from its $2B haul in Q2’21. 

The company — which became the first major crypto startup to go public in the US in April — has bigger aspirations than helping people buy and sell crypto. 

From its ambitions to open an NFT marketplace to its frenetic pace of investment, we examine Coinbase’s strategy, financing history, product offerings, and more here. 

Make it rain

The wealth tech category saw 7 unicorn births in Q3’21, bringing the total count to a record-setting 25. 

Funding was up 35% YoY to reach $2.8B, but dropped 30% from Q2’21 levels.

For deeper insights, all the charts, and a ton of private market data, download the full 95-page State Of Wealth Tech report.

Snap, crackle, & pop
 

Snap, which operates Snapchat, currently reaches over 75% of 13- to 34-year-olds in the US, UK, Australia, the Netherlands, and France.

It’s now moving to transform its app into an immersive and shoppable platform for teens and young adults. 

From e-commerce to augmented reality, we mined Snap’s recent acquisitions, investments, and partnerships to identify its 5 most important strategic priorities. Dig into them here. 

Big tech in pharma 

The pharmaceutical industry is going digital, and big tech is wasting no time getting involved.
 

Amazon has a secret                    business.
 

Microsoft reduced the timeline for                    by 98%.
 

Apple is building                    around patient data.
 

Google's                    could revolutionize drug discovery.
 

We'll be disclosing the top-secret details in our analyst presentation "How Big Tech Is Driving Pharma's Digital Transformation" at the Future of Health (Dec. 8-9, online).
 

Save 40% off your tickets with code BLACKFRIDAY.

Betting on magic

Funding to psychedelic medicine companies is on track to 8x 2019’s total by the end of this year.

What’s driving the surge? Pharma giants seeing declines in ROI for drug R&D are exploring alternative products like psychedelics, and consumer interest in the hallucinogenic drugs is growing.

Clients can see topline findings and implications, market drivers, and more in this psychedelics funding brief.

WSJ. Corrie Driebusch (@cdriebusch) discusses the IPO rush and references CB Insights unicorn data.

Bloomberg. Clara Molot writes about Grammarly’s entrance into the top 10 most valuable US startups and cites the CB Insights unicorn list.

Forbes. Marty Swant (@martyswant) covers the departure of Discord’s CMO and mentions CB Insights research. 
 

P.S. We’re looking for a senior technical recruiter. Apply here.