The fed turned off the taps, still need that cash from somewhere.<p>Edit:<p>> Meanwhile, the three reportedly laid it on thick, with Horowitz praising Saudi Arabia as a “startup country” and saying that “Saudi has a founder; you don’t call him a founder, you call him his royal highness.”<p>that is some next level groveling
a16z has become a joke in the VC industry. They invested upwards of $10 billion in "web3" startups, and are unlikely to see a single dollar of it back. And they keep doubling down on the idiocy, for example dumping $350M into Adam Neumann's new company (which not even he can actually describe).<p>A decade ago they had their fingers in every big tech exit. Today hardly any name in their portfolio is recognizable.<p>No wonder they are desperate for the cash.
This doesn’t really surprise me. The Saudis have a ton of money and like to invest it aggressively in passive vehicles. If your job is to drum up investment money then it makes sense to focus on them from a purely economic standpoint. I once went to a meeting at Credit Suisse’s offices in my earlier days in finance and was amused to see a huge framed image on the wall that was the family tree of the Saudi royal family, showing all the wealthy and influential cousins and uncles who dominate key governmental ministries and hold the purse strings. The bank had practically made a science of how to best target them to pitch their schemes (didn’t end up saving them in the end though!)
> Andreessen Horowitz is now openly courting capital from Saudi Arabia, despite U.S. strains.<p>I didn't know US' relations with Saudi Arabia were strained. SA imports hundreds of millions of dollars in weapons from USA every year.
Isn’t Marc Andreessen the “keep your politics out of work” guy? He openly applauded Coinbase ceo for the being a stellar example of a company doing it correctly.<p>If you liked that then you should be fine with this too right?
a16z bet heavily on crypto ecosystem to fly. They even backed many sham concepts. But I guess their wish wasn't granted, and now looking for money from oil.
<a href="https://docs.google.com/document/d/13h84RV5MXZpImXxelaYOcI6B5OUwjL1H4ERxW7EjTGQ/preview" rel="nofollow">https://docs.google.com/document/d/13h84RV5MXZpImXxelaYOcI6B...</a><p>The letter meant to make svb more desirable to a potential buyer over that 'hail Mary' deal weekend. Of note is who didn't sign that letter.
Oh, suddenly we're not happy with giving a totalitarian-authoritarian dictatorship weapons to execute genocide on tens of millions of innocent people and just really want their money for our play time..<p>What changed?<p>Edit: I mean, this isn't news and its no conspiracy theory. The USA really is in league, militarily, with a fascist totalitarian-authoritarian dictatorship which <i>regularly</i> murders children as well as its own citizens. It deserves your attention, fellow citizens. Whether it makes you feel uncomfortable about your investments - or not.