Le Studio Weekly
🧮 Numbers of the Week
5.78%--The average rate on a 30-year fixed-rate mortgage, the highest level since 2008, mortgage-giant Freddie Mac said. The surge from 5.23% last week marks the largest weekly increase since 1987.
7%--The share of tampons out of stock in U.S. stores the week ended Sunday, according to data tracking firm IRI. That’s been steadily improving over the past month; rates below 10% are considered healthy. Major tampon manufacturers are racing to boost supplies, as some consumers struggle to find their preferred products.
👥 Venture Capital
VC market faces 'rational reality' reset, investors warn
Venture investors expect a widespread reset in investment activity as the market shifts to favor sustainability over growth. At the 2022 SuperVenture conference in Berlin, the impact of macroeconomic volatility on capital raising and valuations was at the forefront of the discussion, with most investors predicting tougher times ahead for startups.
"I think now we're entering a more rational reality," Balderton Capital partner David Thévenon said in a panel discussion. "Last year, rounds were closed sometimes in a matter of days, but companies need to realize that isn't going to happen now."
BlackRock backs Europe's bid to cut reliance on Russian energy
BlackRock has launched a new open-ended fund strategy to reduce both the use of fossil fuels and Europe's dependence on Russian energy.
The asset manager plans to fund utilities and providers of end-to-end renewable energy infrastructure. Additionally, it will put capital to work in applications such as data centers, battery storage systems, grid digitization technologies and facilities for the storage and transport of natural gas.
Scores of newly public companies worth less than they raised from VCs
More than 140 VC-backed companies that went public in the US since 2020 have market capitalizations that are less than the amount of venture funding they raised, according to PitchBook data.
The tally—which includes formerly bright stars of insurtech, mobility tech and retail—underscores the punishment that has been doled out to tech companies whose growth prospects have diminished.
🏛️ Culture & Trends
Watch the Eta Aquariid Meteor Shower Peak in Night Skies
Last week was one of the special dates scattered throughout each year when skywatchers can catch a meteor shower as a multitude of flares potentially burst in the darkness.
Meteor showers occur when our planet runs into the debris field left behind by icy comets or rocky asteroids going around the sun. These small particles burn up in the atmosphere, leading to blazing trails of light. The regularity of orbital mechanics means that any given meteor shower happens at roughly the same time each year.
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