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COSS Weekly #70

Here's the seventieth 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 πŸ˜‹ news from the previous week in COSS across: Funding, Content, Jobs, Liquidity and $COSS (Public Markets).

This last week saw $23.6M in funding announcements from the National Science Foundation and Quickwit, the unveiling of Open Core Ventures from Sid Sijbrandij, and thousands of COSS job openings. It's been a very quiet week (smallest in many months) on funding announcements, as public markets continue to be hammered by the ongoing Russia/Ukraine war and broader macro uncertainties.


πŸ’° COSS Funding: $23.6M

  • Greg Langdon: ".@NSF announces $21M to support open-source development: "If you are working on an open source project that might benefit from this kind of funding, check it out [here]. Phase I applications are due 5/12/22, and Phase II applications are due 10/21/22." Link

  • Quickwit, a distributed search engine for databases, announced their $2.6M Seed led by FirstMark and firstminute. Link

  • Joseph Jacks (JJ) πŸ‡ΊπŸ‡¦: "HUGE congrats to @gitlab co-founder @sytses on unveiling Open Core Ventures today on @20vcFund. COSS startup incubation is a very exciting and promising model, and I'm thrilled to see this succeed! πŸ”₯πŸš€βœ¨ " Link

  • KΞVIN XU (kevinxu.eth): "Open Core Ventures looks amazing So many great things happening in the commercial open source universe. Congrats @sytses !" Link

πŸ“š COSS Content

  • Heather Meeker: "Here is my attempt to explain blockchain and Bitcoin to myself. I hope others enjoy it. " Link

  • shawn swyx wang: "πŸ†• Essay: The $100b Bull Case for Temporal Why @temporalio is worth $1.5b now, why it will be worth $10b, and how it could be worth $100b." Link

  • Red Hat, Inc.: "Read Red Hat's response to the war in Ukraine." Link

  • COSS Community 🌏: "@MericoDev" Link

  • Gamestonk Terminal: "1/x Our personal bet on financial bots and how we will render other finance chatting tools useless. A🧡" Link

  • Joseph Jacks (JJ) πŸ‡ΊπŸ‡¦: "PSA: You cannot copy-and-paste PLG SaaS heuristics into COSS companies. This is akin to forcing a square peg into a round hole." Link

  • Tim Ferriss: "NEW podcast episode is up! 'Tim Ferriss and Matt Mullenweg (@photomatt) Get Personal in Antarctica' Show notes: Please enjoy! πŸ™Œ" Link

  • Alyssa X: "I'm looking for opportunities πŸ‘‹ As a πŸ¦„ I've built 12+ products solo in 2 years (w/ over 100K users), designed for startups, nominated twice as Maker of The Year by @ProductHunt, made some of the top @GitHub repos, & more. πŸ‘‰ βœ‰οΈ (or DMs)" Link

  • sarahnovotny: "OH: In open source there are no countries." Link

  • cdixon.eth: "Search engines should open source their ranking algorithms." Link

  • COSS Community 🌏: "@EH2VC @getcana @friedberg πŸ’―" Link

  • Joshua Poddoku: "Going live in few hours with @peer_rich πŸš€ We will talk about the revolutionary COSS project @calcom and his journey in #opensource If you want to participate, RSVP below πŸ‘‡" Link

  • Joseph Jacks (JJ) πŸ‡ΊπŸ‡¦: "In the future of digital technology capitalism, COSS / open core investing will be the only kind of investing. Fundamental capital efficiencies are just too strong..for everyone: Employees, founders, VCs, angels, customers, etc. Today, this is still a niche, but growing rapidly." Link

πŸ’Έ COSS Liquidity (M&A + IPOs)

  • Joseph Jacks (JJ) πŸ‡ΊπŸ‡¦: "50+ year old Oracle misses EPS by five cents today and $15B~ of their stock gets wiped out. Business growing by ~5%/yr.. Meanwhile, more than $40B of open source database company value has been created over the last decade alone. Unequivocally, the future of databases is COSS." Link

  • Jamin Ball: "Hashicorp quarter. Nice acceleration - $97M rev (+56% YoY) vs $86M consensus (12% beat) - $94M next Q guidance vs $94M consensus (5% raise) - Last Q grew 49% - Cloud rev 7% of total rev - 131% net retention - 16 months GM adj. CAC payback - 72% GM - (9%) FCF Margin $HCP" Link

πŸ› οΈ COSS Jobs

  • Joseph Jacks (JJ) πŸ‡ΊπŸ‡¦: "$180B+ worth of COSS companies with 10,000+ job openings πŸ”₯ πŸ‘€" Link

  • Umbrel β˜‚οΈ: "Come, build Umbrel with us to power the personal server revolution. We're looking for devs, designers, community manager, support exec, shitposter (yes you get my job, you're welcome), and more. Only requirement: you love what you do. Open roles & FAQ:" Link

πŸ“Š $COSS - Public Markets

  • $COSS markets down 4.21% last week

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

Koyfin market data

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