Binance says it will cover all losses from company funds after a hack Lon Harris says affected an estimated $6.3bn.
DoorDash agreed to buy Instacart for about $17bn at $65 a share, a 25% premium, and an anti-monopoly group wants regulators to block it.
Jake Newfield says Hermetiq's Barn Owl AI build engineer is paid monthly by a top AI lab, which Jason Calacanis treats as the key test of its moat.
Binance Hacked for an Estimated $6.3 Billion
Funding and deals
Instacart. DoorDash agreed to buy grocery delivery app Instacart for $17bn in cash and stock, a 25% premium Jason Calacanis calls an overpay.
Guest interviews
Jake Newfield, co-founder and CEO of Hermetiq. Newfield pitched Barn Owl, an AI build engineer that one of the top AI labs pays Hermetiq to analyse over 2m builds, or 4bn build events, per day. Hermetiq builds on the RBE protocol implemented by Bazel, sees a $25bn market and has raised $2.2m, including from Launch and Niranjan Tulpule. He argues labs buy tools rather than build them, as they do with Databricks and Okta, and says his next customers are close.
News
Binance hack hits an estimated $6.3bn. Binance will cover all losses from company funds and suspects a compromised engineer's laptop. Tether, Circle, Ripple and World Liberty Financial helped freeze about $3bn on chain, and Jason Calacanis credits Changpeng Zhao for backstopping losses.
Calacanis urges Cyber September and doubled security budgets. Jason Calacanis wants the industry to pause feature releases each September to patch software and says corporate cybersecurity spending must double. He tells founders to spread cash across banks given the $250,000 FDIC limit.
Calacanis offers $100,000 escrowed bet against bitcoin. Jason Calacanis, who called that bitcoin would never regain its all-time high, proposes a wager with Grant Cardone held in escrow and invested in the S&P 500. Bitcoin has fallen to about $76,000.
Annotated contest pays top five demos $1,000 each. Annotated is a browser sidebar and app for resharing online media with commentary. Jason Calacanis wants a clearer iMessage-style bubble design and gives $1,000 to each of the top five demo winners.
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