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Joseph (JJ) Jacks for COSS Community

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COSS Weekly #109

Here's the one-hundred ninth issue of COSS Weekly, the global commercial open source (COSS) company category newsletter, brought to you every weekend by the team at OSS Capital, creators and stewards of COSS Community and Open Core Summit.

We deliver only the most fresh 😋 news from the previous week in COSS across: Funding, Content, Jobs, Liquidity and $COSS (Public Markets).

Last week saw $59.9M in funding announcements from Runway, ClickHouse, Rowy, Cubzh, tldraw, and MergeStat, the release of the OpenBB SDK and ClickHouse Cloud, and more insights and conversations on open-source AI.


💰 COSS Funding: $59.9M

  • Runway, the next-gen content creation suite, announced their $50M Series C led by Felicis. Link
  • ClickHouse, the online analytical processing (OLAP) database, extended their Series B with funding from Thrive Capital. Link
  • Rowy, a low-code backend, announced their $3M Seed led by Worklife VC including OSS Capital. Link
  • Cubzh, a cube-based game similar to Minecraft, announced their $3M Seed led by New Wave. Link
  • tldraw, an infinite canvas for the web, announced their $2.7M Seed led by Lux Capital. Link
  • MergeStat, an operational analytics tool, announced their $1.2M Pre-seed led by OSS Capital. Link

📚 COSS Content

  • Elon Musk: "@waitbutwhy Not surprising, as I just learned that OpenAI had access to Twitter database for training. I put that on pause for now. Need to understand more about governance structure & revenue plans going forward. OpenAI was started as open-source & non-profit. Neither are still true." Link

  • OpenBB 🦋: "OpenBB SDK is out on Product Hunt. Upvote, comment and share to help 🚀

  • Didier Lopes 🦋: "Just wrote a blogpost about the future of Finance with open source + AI.

  • Sonny Lazuardi: "Just created open source @OpenAI ChatGPT desktop app for windows and mac using @TauriApps. This allows me to ask AI from my system tray without opening browser 🪄 ✨

  • Rowan Trollope: "I'm excited to share that I'm joining @Redisinc as CEO beginning February 1, 2023. The team and the open source community have built an insanely great platform serving the many of the worlds most popular apps and a technology that's loved by devs, myself included." Link

  • TechCrunch: "If Rowy has its way, if you can use Excel, you can build software by @HajeLink

  • mxcl.eth: "How long until AI is so good at decompiling binaries into well architected code (you pick the language) that there's no point in being closed source anymore? /cc @JosephJacks_Link

  • JJ: ""PyTorch and TensorFlow are the FORTRAN and COBOL of deep learning programming languages" --- @realGeorgeHotz 😅 Thinking critically, this really does make a ton of sense.

  • JJ: "What can be open source eventually becomes open source. Open source eventually dominates any domain in which it is effectively applied." Link

  • Firebase: "🤗 Firebase + @RowyIO = 🔥 @peterfriese and @HariniLabs go behind the scenes and dive into what @RowyIO is, how it works, and why it's a useful tool for anyone who uses Firestore. Watch #FirebaseStories ➡️

  • Ed Sim: "So many nuggets of wisdom from @HashiCorp earnings transcript Here's how most OSS projects go from artistic success with lots of devs using it to commercial success where the 💰 is - need to serve both constituencies more here:

  • JJ: "AI code generators are to coding today what C++ was to coding in Assembly / binary yesterday. Programmers aren't going anywhere, nor are they getting automated away... they are simply becoming vastly more productive with this new level of abstraction." Link

  • AppFlowy: "Two small releases (v0.0.7 & v0.0.8) with big updates 💌 🔢 Add filter to your data to show records that meet specific criteria ✅ Meet Checklist. Track steps that need to be tackled within a task 🔎 Choose from three font sizes and follow ur system theme

  • OSS Insight: "We are trying to introduce @OpenAI's GPT-3 into OSS Insight, to make data queries easier and smarter. Now the preview version can convert natural language into #SQL and query the data of a #GitHub repo. 👇Here's a demo of how it works. 👉Give it a try:

  • evangelos: "I love the open startup concept at @calcom here, you can view the salaries, the essential metrics even the areas of expertise the people have! @peer_rich and the team, great job!" Link

  • Wes Bos: "Tauri seems to be a promising way to create desktop apps without the huge payload of chromium. The "backend" is in Rust, but it seems like you use the serverside JS APIs (notifications, file access..) right inside your client side code. Pretty neat!

💸 COSS Liquidity (M&A + IPOs)

  • Jamin Ball: "GitLab quarter: - $113M rev (+69% YoY) vs $106M consensus (7% beat) - $120M next Q guidance vs $119M consensus (0.4% raise) - >130% DBNR - 29 months GM adj. CAC payback - 87% GM - (3%) FCF Margin $GTLB" Link

  • Jamin Ball: "MongoDB quarter: - $334M rev (+47% YoY) vs $302M consensus (10% beat) - $336M next Q guidance vs $311M consensus (8% raise) - $210M Atlas rev (+61% YoY) - 26 months GM adj. CAC payback - 72% GM - (2%) FCF Margin $MDB" Link\

  • Jamin Ball: "HashiCorp quarter: - $125M rev (+52% YoY) vs $111M consensus (13% beat) - $124M next Q guidance vs $120M consensus (3% raise) - 134% NDR - 32 months GM adj. CAC payback - 82% GM - (14%) FCF Margin $HCP" Link

🛠️ COSS Jobs

  • 5,352 jobs and 256 companies hiring! Link
  • JJ: "WOW. Looks like an awesome opportunity: GitLab CEO/co-founder @sytses and his team @OpenCoreVenture are hiring a developer to automate venture capital with 2,000 portfolio companies per year!

📊 $COSS - Public Markets

  • $COSS markets down 0.83% last week

  • Latest $COSS markets snapshot below as of market close last Friday courtesy of Koyfin.

Koyfin market data

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