What’s the right NDR target for SaaS startups?

Why are software companies valuable? Put another way, why have we spent so many years valuing software companies using revenue multiples, instead of the profit multiples that are more common in other industries? There are several key reasons. First, software companies have very strong gross margins; software is cheap to sell once you’ve written the … Read more

The lawsuit that could rewrite the rules of AI copyright

The key question in the lawsuit is whether open-source code can be reproduced by AI without attached licenses. | Credit: Getty Images Microsoft, its subsidiary GitHub, and its business partner OpenAI have been targeted in a proposed class action lawsuit alleging that the companies’ creation of AI-powered coding assistant GitHub Copilot relies on “software piracy … Read more

FTX’s seemingly sluggish withdrawals raise eyebrows

Withdrawal transactions for customers using FTX, the third largest crypto exchange by volume, have seemingly been limited to a nominal amount or none at all, according to multiple on-chain data sources. Stablecoin withdrawals from FTX dropped to zero around 6 a.m. ET on Tuesday, according to data on CryptoQuant. Meanwhile, withdrawals of ether, Ethereum’s token, … Read more

Nintendo will ‘strengthen digitalization’ in new partnership with Super Mario Run developer

Illustration by Alex Castro / The Verge Nintendo could be planning a deeper dive into the mobile gaming industry to make up for a slowdown in Switch sales. Along with its earnings report released on Tuesday (PDF), the company announced a joint venture with DeNA, the Japanese mobile gaming giant that co-developed several Nintendo titles … Read more

Peloton co-founder John Foley is a rug guy now

John Foley clearly didn’t take (ahem) a brake after leaving Peloton. The former co-founder and CEO of the connected fitness company — who stepped down as CEO in February and left the company altogether in September — is back with a new startup. Ernesta, which aims to launch in spring 2023, will sell custom rugs through … Read more