📶 $7.2 BILLION Prime Day

$7.2 billion spent by Americans on day one of Prime Day, cyber funding gets a bump, and why Mark Schuster thinks VC firms need to copy the PE playbook

July 18, 2024 • Estimated Reading Time: 8 minutes

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Good morning 👋

The first day of Prime Day was yesterday.

Turns out people had a lot of shopping to do.

U.S. buyers alone spent $7.2 billion on Tuesday. By the time you read this, the Wednesday numbers should be in too.

It’s hard to wrap my head around how large that number is, but I guess that’s a positive sign for consumer sentiment.

Let’s get into the rest of the top stories from yesterday.

P.S. My brother is getting married this weekend, so we’re taking Friday off.

We’ll see you again Monday morning (or Sunday night for Pro subs).

TL;DR:

HEADLINES
Prime Day numbers are in 🛍

  • US buyers spent $7.2B on the first day of Amazon’s Prime Day sales event (TechCrunch)

  • Hot biotech stocks have LPs eyeing hybrid venture vehicles (Pitchbook)

  • Menlo Ventures and Anthropic team up on a $100M AI fund (TechCrunch)

  • Cybersecurity Funding Jumps 144% In Q2 (Crunchbase)

  • Crypto and late-stage fintech deals tick up in Q2 (Axios)

  • Venture firms need to emulate private equity, says Upfront Ventures partner Mark Suster (Fortune)

  • Elon Musk vows to move X, SpaceX headquarters from California to Texas (TechCrunch)

  • Venture capitalists in line for windfalls from Google’s $23bn Wiz deal (FT)

  • These are the companies JD Vance has invested in as a VC (and beyond) (Fast Company)

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FUNDS

Name

Fund Size

Fund Number

DFJ Growth

$1b

V

Trill Impact

$98.217m

I

Alliance Consumer Growth

$160m

V

Alpine Space Ventures

$185.521m

I

Booom

$18.552m

I

Kearny Jackson

$65m

III

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POLL

Did you buy anything on Amazon for Prime Day

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RESULTS

Here are the results from our poll question in yesterday’s piece:

How do you think AI agents will change software pricing?

🟨🟨🟨⬜️⬜️⬜️ Higher per set prices (7)

🟨🟨🟨⬜️⬜️⬜️ More usage-based pricing (8)

🟩🟩🟩🟩🟩🟩 More pay for performance (13)

28 Votes

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