This Week in Startups
00:09:24 · Lon Harris, Jason Calacanis
[00:09:24] S1: a bunch [00:09:24] S0: of other people are trying to bait me into a bet. I'm like, I'm not opposed to taking these bets. Let me just make a little clip here. You can clip this and put it on the Internet. I'm happy to take action on this, but I don't want to take tenure action because, like, I don't know if I'm going to get paid and whatever. And I I do want an escrow company or somebody to adjudicate this, and I want the money to be in a productive asset. So in other words, if I do, let's put the million dollar bet aside. It's like unnecessarily gratuitous. But let's say I did a 100 k bet with Grant. Is there an escrow service I can put it in and say, hey, I just want that 100 in the... Know, put it in the S and P 500 or something, and I'll put a 125 k in case it goes down or whatever. And then this third party settles it for us, has the smart contracts, etcetera. [00:10:08] S1: Great idea for a company, Jason. Like, I... You... [00:10:11] S0: We I gotta think there's companies that do this, but it's a good idea, Lon. Yes. It is. But people don't do it too often. That's the issue. [00:10:19] S1: I've been in wagers that I feel like people would have wanted a third party adjudication service. [00:10:24] S0: I would pay 1% of the bet just for somebody to settle this and just manage it. But that's only like $1,000 or $2,000 or $10,000 I don't know if it's worth anybody's time. [00:10:34] S1: You'd have to scale it up, yeah.
00:10:34 · Lon Harris, Jason Calacanis
[00:10:34] S1: You'd have to scale it up, yeah. [00:10:36] S0: If you'd keep this. But I would take some of these bets if it was easy for me to do. I'm just busy guys. And they're like, You didn't take the bet. You don't care. I'm like, It's an easy bet for me to take. If anybody wants to bet me 100 or something quick and there's an easy way for me to fund it. You mean, you guys see my J trading. I'm J trading 100 ks bullets, 250 k bullets on a pretty regular basis. [00:10:58] S1: You're you're in the arena trying things. It was Grant Cardone. I'm trying. Fred Krueger and Terence Michael. We have all the posts of all the people who wanted to bet. [00:11:05] S0: My god. These guys are triggered, man. You... There's nothing more triggering than me talking about Bitcoin. [00:11:10] S1: No. [00:11:11] S0: And the name calling and everything. Crazy. But yeah, I think Fred was like ten years, 2036. I mean, I don't think Fred... Fred's an old dude, right? Like isn't he like 70 years old? He looks terrible. Let me see that picture. He looks like he's 70. I don't think he's making it that far. Let me see a picture of Fred Krueger. [00:11:30] S1: I don't. [00:11:31] S0: Oh, he's doing his bit. He's doing his [00:11:32] S1: bit. [00:11:32] S0: I gotta I gotta respect Fred Krueger's game here. He's literally doing a live... He's still doing spaces pumping. Yeah. BTC. I mean, the reason... My basic premise around this [00:11:44] S1: is BTC today. One too.
00:11:44 · Lon Harris, Jason Calacanis
[00:11:44] S1: is BTC today. One too. [00:11:46] S0: Okay. He's the cohost. Key challenges facing early stage founders. Number one, running a company is expensive. We all know that. Number two, it's hard to keep track of all the banking and payment tools that you're using. And three, what do you do when it's time to incorporate your new business and make sure that everything is buttoned up? Hey. Maybe you're raising a round or you're hiring more people. You need it to be tight. Our friends at Stripe now have easy solutions for all three of these conditions. With their Stripe Startups program, your early stage venture backed company gets access to the best fintech stack in the business, period. With their banking product, Stripe Treasury, you can open a new account in just minutes. No minimums and no monthly fees. And with Stripe Atlas, you can form a new Delaware c corporation, get a company tax ID, and start issuing founder equity in just a few clicks. Learn more and apply for the Stripe Startups program today by visiting stripe.com/startups. Go to stripe.com/startups so they know. Your uncle Jay Cao sent you. Let me tell you my basic reason why I think BTC is that most restaurant, since you're asking. [00:12:52] S1: I
00:12:52 · Lon Harris, Jason Calacanis
[00:12:52] S1: I [00:12:52] S0: was. The number one reason is you don't have the Fred Krugers and Sailors of the world, Ponzi scheming, pumping and dumping, shaming people, laze... Remember laser eyes, orange this Diamond hats. Orange ties, diamond hats. You don't have that... Those bot armies coming after you anymore. So, usually, when I would post something like this, you would have a thousand credible people with laser eyes. Like, credible people who are venture capitalists, founders, etcetera, media personalities who had laser eyed, put orange nonsense, which is my favorite color, which kind of pisses me off a little bit. You'd have all those people say, have fun staying poor, have fun staying poor, and whatever dumb, you know, one liners that they would crib from each other as they sycophantically, you know, followed each other off this Bitcoin cliff to a wasted decade or a wasted five years at least of trading this thing when they could have been doing productive stuff in the world. All that wasted time, whatever, they're all gone. It's embarrassing to put laser... I mean, can you imagine how embarrassing it is to be a 40, 50, or in Fred's case, 70 year old guy you put laser eyes on? [00:14:06] S1: It was very millennial cringe now. It would play very millennial cringe. [00:14:10] S0: Cringey. Yeah. Mean, I the only people I really respect is Michael Saylor, who has not changed his tune. He's like, it's Manhattan. I'm like, bro, if this is Manhattan, this is this is Manhattan from Escape from New York. This is not like... This is Manhattan from planet of the apes.
00:14:10 · Jason Calacanis, Lon Harris
[00:14:10] S0: Cringey. Yeah. Mean, I the only people I really respect is Michael Saylor, who has not changed his tune. He's like, it's Manhattan. I'm like, bro, if this is Manhattan, this is this is Manhattan from Escape from New York. This is not like... This is Manhattan from planet of the apes. [00:14:24] S1: Yeah. This is not like the Manhattan you're thinking. Manhattan. Yeah. [00:14:27] S0: I am a legend Manhattan. But Michael Saylor might come on the all in interview program. [00:14:32] S1: Really? That would be a great one. That would... I was looking [00:14:34] S0: for you do like, I don't know, a year and a half ago when I was like, this mister thing is crazy. Like, what what is going on here? Why do you need to make something so complicated? Then he was like, I wanna come on. I was like, okay. Come on. And then he ghosted us. And then my people have been reaching out to me. Mike, come on now. So I don't know. [00:14:50] S1: That'd be [00:14:50] S0: I I would have a thoughtful discussion with him. Let's keep going. Be great.
00:14:50 · Jason Calacanis, Lon Harris
[00:14:50] S0: I I would have a thoughtful discussion with him. Let's keep going. Be great. [00:14:53] S1: Alright. We'll do we'll we'll do one more story here before we, move on. We gotta talk about this DoorDash thing. So DoorDash, they're buying Instacart in a cash and stock deal worth around $17,000,000,000. This was announced yesterday. DoorDash will pay $65 a share. It's about a 25% premium over Instacart's October 22 closing price. Instacart, of course, went public in 2023 following a big pandemic boom when people were ordering groceries instead of leaving the house, but they've struggled to keep pace with Uber, Amazon, and Walmart in the category. Here's the pitch. Grocers will get DoorDash's delivery network plus Instacart's grocery and fulfillment tech while customers get to stop paying for two memberships, DashPass and Instacart plus. The company's claim that's gonna save about a $100,000,000 per year. An anti monopoly group, of course, already asking regulators to block this. They're saying that the combined company would control nearly 60% of third party grocery delivery in The US. So I guess first question to you, does this go through and is this a monopoly risk to put DoorDash and Instacart together?