COSS Weekly, Issue #53: October 31st, 2021
On Bitcoin's 13th birthday, here's the fifty-third issue of COSS Weekly, the global commercial open source (COSS) company category newsletter, brought to you every Sunday afternoon (Pacific Time) 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, Liquidity and $COSS (Public Markets).
Open source data infrastructure is all the rage, with nearly $500M in new funding last week alone from ClickHouse, Yugabyte, and Umbrel! 🔥🔥 Plus an acquisition for SUSE, and the premiere of our COSS Weekly Jobs section!
Enjoy — and Happy Halloween!
💰 COSS Funding: $441M
ClickHouse, providing real-time SQL analytics, announced their $250M Series B at $2B valuation led by Coatue and Altimeter. Link
Yugabyte, a scalable distributed SQL database, announced their $188M Series C at $1.3B valuation led by Sapphire Ventures. Link
Umbrel, enabling people to run their own servers from home, announced their $3M Seed led by OSS Capital. Link
📚 COSS Content
JJ: "@calendso is to @calendly what @gitlab is to @github." Link
Scott Carey: "I sat down with Elastic CEO @kimchy recently to talk about the future of@elastic, taking the fight to AWS and the nature of #OpenSource." Link
JJ "This is such a great question. I suspect businesses we vastly underestimate growth durability for are ones with the highest degrees of capital efficiency to create viral communities, networks +++... IMHO, there is no better model that showcases these characteristics than COSS." Link
JJ: "Commemoration NFT for @theKongInc's $100M Series D announcement earlier this year: creators of @KumaMesh, @GetInsomnia and the Kong API gateway! // @subnetmarco @sonicaghi Register FREE for OCS 2021 to win this COSS NFT among many others: https://2021.OpenCoreSummit.com" Link
Shawn Cherian: "This is one of our best interviews yet. @asynchio drops gems everywhere." Link
JJ: "AskGit allows anyone to write arbitrarily complex SQL queries against ANY git code repo (public or private). More great insights keep coming from @patrickdevivo: https://askgit.substack.com/p/microsofts-top npm-dependencies // @askgitdev" Link
Mitchell Hashimoto: "In the midst of cleaning up my Dropbox, I found some old Ruby code I wrote in 2008 (!!!) that was trying to create a DSL around creating AWS resources from a Ruby DSL. CloudFormation didn't come out until 2010. According to the timestamp, I was still 18 years old." Link
Nick Schrock: "1/ New huge release of Dagster. We've made dramatic improvements to our core APIs, completely revamped our UI and brand, and brought renewed clarity to our mission.https://dagster.io/blog/dagster-0." Link
Chris Dixon: "Really fun podcast with my friends @tferriss and @naval ." Link
Robert Miller: "Quick look: - Punk was put up to sale by contract A - Contract B takes out a massive flashloan and buys punk from contract A - When contract A receives ETH from B it immediately sent all of it back to B - Contract B then used the ETH to repay their flashloan" Link
Kamran Ahmed: "Crossing 175,000 stars, Developer Roadmap just became the 7th most starred project on @github. Thank you all for contributing, sponsoring, sharing, giving feedback, and helping make it possible. roadmap.sh" Link
Urs Hölzle: "Very exciting: get more generality, more accuracy, more flexibility, and lower energy usage, all in one system." Link
Chet Kapoor: "GREAT advice for aspiring entrepreneurs from DataStax co-founder @spyced!!." Link
JJ: "There are now > 73M software creators on @GitHub (largely open source). That number has doubled since the June 2018 acquisition of $7.5B in Microsoft stock. Microsoft's stock has since tripled." Link
JJ: "Embracing open source has a way of creating a lot of value ... for everyone." Link
Alex Dean: "Whoa - this is super-smart. Using NFTs to reward and track personal development/progression inside an #opensource community /cc @freshwebs @asynchio @Mandelliant." Link
JJ: "'Look! So-and-so just raised $4M with only 7,000 GitHub stars, we have 12,000+! We should raise $8M because we are worth it!'... This extremely flawed logic from a founder AND venture perspective. IMHO, stars have ZERO correlation to whether a great COSS business can be built." Link
Elon Musk: "If WFP can describe on this Twitter thread exactly how $6B will solve world hunger, I will sell Tesla stock right now and do it." Link
^ Elon continuing: "But it must be open source accounting, so the public sees precisely how the money is spent." Link
Solomon Hykes: "I followed that debate, my conclusion is that the community is split on the issue. The debate was not resolved, it was shut down. One faction in the community told the other:
our way or the highway. The gatekeepers have picked a side, gambling their legitimacy in the process." LinkPomp: "A pseudonymous person or group published the Bitcoin white paper exactly 13 years ago today. That idea has grown into a $1 trillion network that is used by 100+ million people around the world. If you haven't read it, I highly suggest you do. https://bitcoin.org/bitcoin.pdf." Link
Adam Jacob: "We are hiring Engineers! We're honest, decent, direct, thoughtful people who will value your perspective and your time. We're building something super dope. We don't care where you live, but we work in PST. We're a small company with giant ambitions - you can make a real impact." Link
💸 COSS Liquidity (M&A + IPOs)
- SUSE acquires NeuVector, a leader in full-lifecycle container security. Link
🛠️ COSS Jobs
- Product Analytics Engineer (System Initiative)
- Software Engineer (System Initiative) --- 3 openings
📊 $COSS - Public Markets
$COSS markets down 1.24% last week
Latest $COSS markets snapshot below as of market close last Friday courtesy of Koyfin.
This issue of COSS Weekly is brought to you by Mayfield Fund
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