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           <td colspan="2" style="color: #ffffff; font-family: 'Helvetica', sans-serif; font-size: 1px; letter-spacing: 0px; line-height: 120%; padding: 0px;">
            PLUS: The 5 biggest media flops ever.
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                  October 23, 2020
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                  <img alt="The Hustle" src="https://inboxflows.com/_/image/https%253A%252F%252Fsailthru-media.s3.amazonaws.com%252Fcomposer%252Fimages%252Fsailthru-prod-6ks%252FST_Hustle_Logo.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzYWlsdGhydS1tZSJ9:1kXMAz:qPu7AMbxjrQu_eSfpLz_yy0SOzX5vnv-MCpso7h3DWE" style="width: 250px;" width="250"/>
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                  TOGETHER WITH
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                  <p style="font-size: 16px; line-height: 20px; margin: 0px; padding-bottom: 10px;">
                   Thank you for bearing with us on the
                   <strong>
                    Golden Ticket
                   </strong>
                   talk. We can finally get back to regular programming… like how the title for the new book about WeWork has the greatest double entendre ever:
                   <em>
                    Billion Dollar Loser
                   </em>
                   .
                  </p>
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              <td style="color: #D62829; font-size: 16px; font-weight: bold; letter-spacing: 1.5px; padding: 0px 0px 10px; text-transform: uppercase;">
               The Big Idea
              </td>
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               <h2 style="font-size: 22px; font-weight: bold; line-height: 26px; margin: 10px 0px 5px;">
                Why Zoom had to make a big platform play
               </h2>
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               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                If you’ve been afflicted by Zoom fatigue, we hate to tell you… there’s probably more coming.
               </p>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                Last week, the video chat platform announced the release of
                <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
                 Zapps
                </a>
                -- “apps that you can use within the Zoom platform to help improve productivity and create more engaging experiences.”
               </p>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                It’s basically an app store right in your vid chat window, with an impressive list of 25 partners for collaboration (Slack, Dropbox), education (Coursera), misc (Cameo), marketing (Hubspot) and support (PagerDuty).
               </p>
               <h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; margin: 0px; padding-top: 8px;">
                <strong>
                 Zoom’s move to a platform was inevitable
                </strong>
               </h4>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                Since the close of its first trading
                <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
                 day
                </a>
                (in April ‘19), Zoom has seen the value of its firm grow by ~10x, to (not a typo)
                <strong>
                 $145B
                </strong>
                .
               </p>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                However, as
                <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
                 noted
                </a>
                by tech analyst Benedict Evans, Zoom’s business doesn’t have a clear-cut moat. It was able to crash the video chat party by removing all friction.
               </p>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                “Zoom made network effects irrelevant,” Evans writes. “But, that means Zoom doesn’t have those network effects either. It grew by removing defensibility.”
               </p>
               <h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; margin: 0px; padding-top: 8px;">
                <strong>
                 The company has been trying to level up
                </strong>
               </h4>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                In July,
                <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
                 Trends
                </a>
                published “Zoom: The Next Platform for Billion-Dollar Apps.” The piece highlighted key moves by Zoom to lock in its leading position.
               </p>
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                <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
                 <strong>
                  Zoom for
                 </strong>
                 <a style="color: #d62829; text-decoration: none;">
                  <strong>
                   home
                  </strong>
                 </a>
                 <strong>
                  :
                 </strong>
                 a dedicated remote work screen
                </li>
                <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
                 <strong>
                  Hardware-as-a-service
                 </strong>
                 <a style="color: #d62829; text-decoration: none;">
                  <strong>
                   play
                  </strong>
                 </a>
                 <strong>
                  :
                 </strong>
                 a Zoom program to rent out top-notch video equipment to corporate clients
                </li>
                <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
                 <strong>
                  3rd-party apps:
                 </strong>
                 Separate from Zapps, Zoom has been pushing its
                 <a style="color: #d62829; text-decoration: none;">
                  API
                 </a>
                 and
                 <a style="color: #d62829; text-decoration: none;">
                  SDK
                 </a>
                 solutions for third party developers
                </li>
               </ul>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                Over the
                <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
                 summer
                </a>
                , CEO Eric Yuan described his vision for how every industry (e.g., telemedicine, fitness) could build on top of Zoom’s platform: “Each vertical use case can be a huge market on its own.”
               </p>
               <h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; margin: 0px; padding-top: 8px;">
                <strong>
                 Zoom has a good app store example to draw from: Shopify
                </strong>
               </h4>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
                 Ross Simmonds
                </a>
                -- a Trends member and founder of B2B content firm Foundation --
                <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
                 notes
                </a>
                that since launching in 2013, Shopify’s app store has grown from 100 to 3.2k apps.
               </p>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                Now, 87% of Shopify stores have an app installed, generating millions for app creators and billions for merchant sellers.
               </p>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                According to Simmonds, Shopify’s “app ecosystem… has allowed them to build a competitive advantage against other platforms.”
               </p>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                To stay on top, Zoom needs a thriving app store -- let’s just hope one of these Zapps will be a cure for Zoom fatigue.
               </p>
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            Snippets
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             <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
              <strong>
               Finally!
              </strong>
              You can now submit cases to Facebook’s 40-person independent
              <a style="color: #d62829; text-decoration: none;">
               oversight board
              </a>
              . FB funded the board with $130m and Zuck-erooni promises to not interfere with it.
             </li>
             <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
              <strong>
               Security firm McAfee
              </strong>
              raised $740m in an IPO (its
              <a style="color: #d62829; text-decoration: none;">
               2nd
              </a>
              ). Its founder John McAfee -- no longer involved -- has a batsh*t crazy story (e.g., was a suspect in a
              <a style="color: #d62829; text-decoration: none;">
               2012
              </a>
              Belize murder).
             </li>
             <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
              <strong>
               Adidas is trying to unload Reebok
              </strong>
              . We’re pouring one out for the greatest non-Nike bball shoe ever made: Allen Iverson’s
              <a style="color: #d62829; text-decoration: none;">
               Question
              </a>
              .
             </li>
             <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
              <strong>
               Kicking ‘em while they’re down:
              </strong>
              Eko’s
              <a style="color: #d62829; text-decoration: none;">
               lawsuit
              </a>
              alleging that Quibi stole its turnstyle video feature isn’t going anywhere.
             </li>
             <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
              <strong>
               Congrats!:
              </strong>
              Our friends at
              <a style="color: #d62829; text-decoration: none;">
               Product Hunt
              </a>
              announced a new CEO, Josh Buckley.
             </li>
            </ul>
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              <td style="color: #D62829; font-size: 16px; font-weight: bold; letter-spacing: 1.5px; padding: 0px 0px 10px; text-transform: uppercase;">
               Media #Fails
              </td>
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              <td style="padding: 0 0 6px;">
               <a style="color: #d62829; text-decoration: none;">
                <img alt="Media fails" src="https://inboxflows.com/_/image/https%253A%252F%252Fsailthru-media.s3.amazonaws.com%252Fcomposer%252Fimages%252Fsailthru-prod-6ks%252Fmedia.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzYWlsdGhydS1tZSJ9:1kXMAz:qPu7AMbxjrQu_eSfpLz_yy0SOzX5vnv-MCpso7h3DWE" style="height: auto; max-width: 600px; width: 100%;" width="600"/>
               </a>
              </td>
             </tr>
             <tr>
              <td>
               <h2 style="font-size: 22px; font-weight: bold; line-height: 26px; margin: 10px 0px 5px;">
                5 of the biggest media flops ever
               </h2>
              </td>
             </tr>
             <tr>
              <td class="h2020 ignore-defaults" style="padding: 5px 0px 0px;">
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                As you probably know by now, Quibi -- the short-lived short video app (sorry) -- is shutting down after 6 months.
               </p>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                And now, according to
                <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
                 Axios
                </a>
                , the company plans to return some of the $1.75B it raised back to shareholders, with 20 cents on the dollar a worst-case scenario.
               </p>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                We’re not here to dunk on Jeffrey Katzenberg &amp; Co., though.
               </p>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                Rather, we’d like to put Quibi in context. Here is a very unscientific list of the top 5 media flops ever:
               </p>
               <ol style="font-size: 16px;">
                <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
                 <strong>
                  The movie flop that took down a studio.
                 </strong>
                 Fresh off winning Best Director for the 1978 Vietnam War movie
                 <em>
                  The Deer Hunter
                 </em>
                 , Michael Cimino released a movie that is synonymous with film flops:
                 <em>
                  Heaven’s Gate
                 </em>
                 . The 1980 Western earned $3.5m against a budget of $44m,
                 <a style="color: #d62829; text-decoration: none;">
                  bankrupting
                 </a>
                 United Artists in the process.
                </li>
                <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
                 <strong>
                  Europeans don’t give AF about Disneyland:
                 </strong>
                 Disneyland Paris opened in, um, Paris in 1992. The park was not originally owned by its namesake but -- after decades of middling attendance and an onerous debt burden -- Disney stepped in to take majority ownership in
                 <a style="color: #d62829; text-decoration: none;">
                  2017
                 </a>
                 . COVID-19 has hampered turnaround plans.
                </li>
                <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
                 <strong>
                  The most expensive flop ever:
                 </strong>
                 According to
                 <a style="color: #d62829; text-decoration: none;">
                  Digital Spy
                 </a>
                 , the 2017 fantasy film
                 <em>
                  King Arthur: Legend of the Sword
                 </em>
                 lost $150m on a production budget of $175m. Honestly, we have no idea how this flopped… David frickin’ Beckham makes an
                 <a style="color: #d62829; text-decoration: none;">
                  appearance
                 </a>
                 .
                </li>
                <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
                 <strong>
                  The worst media M&amp;A ever:
                 </strong>
                 In January 2000, AOL announced it was buying Time Warner for $182B. The combined $350B behemoth was to be the perfect internet marriage of distribution (AOL) and content (Time Warner). The new co ended up
                 <a style="color: #d62829; text-decoration: none;">
                  losing
                 </a>
                 ~$100B in 2002. Verizon bought AOL for $4.4B in 2015.
                </li>
                <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
                 <strong>
                  The business that tried (and failed) to beat math:
                 </strong>
                 <a style="color: #d62829; text-decoration: none;">
                  MoviePass
                 </a>
                 .
                </li>
               </ol>
              </td>
             </tr>
             <tr>
              <td>
               <table cellpadding="0" style="padding: 10px 10px 0px; width: 100%;">
                <tbody style="text-align: right;">
                 <tr>
                  <td align="right" style="display: inline-block; padding: 0px 0px 2px; text-align: right;">
                   <a data-tags="share facebook" style="color: #d62829; padding: 0 8px; text-decoration: none; white-space: nowrap;">
                    <img alt="Share on Facebook" height="30" src="https://inboxflows.com/_/image/https%253A%252F%252Fthdaily.s3-us-west-1.amazonaws.com%252Ffb_20200824020124.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZ0aGRhaWx5LnMzLSJ9:1kXMAz:Im5erQ41pC-K_f4Yl4d2W-Q0TLMMl6lpotTZP3dJKa4" width="30"/>
                   </a>
                  </td>
                  <td align="right" style="display: inline-block; padding: 0px 0px 2px; text-align: right;">
                   <a data-tags="share twitter" style="color: #d62829; padding: 0 8px; text-decoration: none; white-space: nowrap;">
                    <img alt="Share on Twitter" height="30" src="https://inboxflows.com/_/image/https%253A%252F%252Fthdaily.s3-us-west-1.amazonaws.com%252Ftwitter_20200824020136.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZ0aGRhaWx5LnMzLSJ9:1kXMAz:Im5erQ41pC-K_f4Yl4d2W-Q0TLMMl6lpotTZP3dJKa4" width="30"/>
                   </a>
                  </td>
                  <td align="right" style="display: inline-block; padding: 0px 0px 2px; text-align: right;">
                   <a data-tags="share email" style="color: #d62829; padding: 0 8px; text-decoration: none; white-space: nowrap;">
                    <img alt="Send as email to a friend" height="30" src="https://inboxflows.com/_/image/https%253A%252F%252Fthdaily.s3-us-west-1.amazonaws.com%252Femail_20200824020149.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZ0aGRhaWx5LnMzLSJ9:1kXMAz:Im5erQ41pC-K_f4Yl4d2W-Q0TLMMl6lpotTZP3dJKa4" width="30"/>
                   </a>
                  </td>
                  <td align="right" style="display: inline-block; padding: 0px 0px 2px; text-align: right;">
                   <a data-tags="share site" style="color: #d62829; padding: 0 8px; text-decoration: none; white-space: nowrap;">
                    <img alt="View on our website" height="30" src="https://inboxflows.com/_/image/https%253A%252F%252Fthdaily.s3-us-west-1.amazonaws.com%252Fweb_20200824020101.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZ0aGRhaWx5LnMzLSJ9:1kXMAz:Im5erQ41pC-K_f4Yl4d2W-Q0TLMMl6lpotTZP3dJKa4" width="30"/>
                   </a>
                  </td>
                 </tr>
                </tbody>
               </table>
              </td>
             </tr>
            </table>
           </td>
          </tr>
          <tr>
           <td style="border-bottom-color: #dddddd; border-bottom-style: solid; border-bottom-width: 1px; padding-top: 15px;">
           </td>
          </tr>
          <tr>
           <td style="padding-bottom: 5px;">
           </td>
          </tr>
          <tr>
           <td style="color: #D62829; font-size: 16px; font-weight: bold; letter-spacing: 1.5px; padding: 10px 3px 0px; text-transform: uppercase;">
            SPONSORED
           </td>
          </tr>
          <tr id="sponsored">
           <td class="h2020 ignore-defaults" style="padding: 0px 3px;">
            <h2 style="font-size: 20px; font-weight: 800; letter-spacing: 0px; line-height: 24px; margin: 20px 0 0px;">
             <strong>
              How much does it cost to start a business?
             </strong>
            </h2>
            <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
             <strong>
              Short answer:
             </strong>
             It depends (doesn’t it always?).
            </p>
            <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
             <strong>
              Long answer:
             </strong>
             Every business will be different, but you can
             <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
              estimate your costs
             </a>
             by looking at two categories and breaking things down from there.
            </p>
            <h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; margin: 0px; padding-top: 8px;">
             <strong>
              1) Capital expenses: One-time costs for fixed assets
             </strong>
            </h4>
            <ul style="font-size: 16px; line-height: 20px; margin: 0; padding-bottom: 10px; padding-left: 12px;">
             <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
              Storefront
             </li>
             <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
              Business license
             </li>
             <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
              Equipment
             </li>
            </ul>
            <h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; margin: 0px; padding-top: 8px;">
             <strong>
              2) Operating expenses: Recurring costs for duration of business
             </strong>
            </h4>
            <ul style="font-size: 16px; line-height: 20px; margin: 0; padding-bottom: 10px; padding-left: 12px;">
             <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
              Rent
             </li>
             <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
              Payroll
             </li>
             <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
              Utilities
             </li>
            </ul>
            <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
             From there, it’s as simple as breaking down what you need, what that costs, and running a
             <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
              break-even analysis
             </a>
             to determine how much revenue you need to pull in to be sustainable.
            </p>
            <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
             Want more help crunching the numbers? This article from Square breaks it down.
            </p>
           </td>
          </tr>
          <tr>
           <td align="center" style="padding: 10px 0px 15px; text-align: center;">
            <a style="-webkit-text-fill-color: #ffffff; background: #D62829; border-radius: 15px; color: #ffffff; font-size: 16px; font-weight: bold; padding: 6px 20px; text-decoration: none;">
             Startup costs →
            </a>
           </td>
          </tr>
          <tr>
           <td style="border-bottom-color: #dddddd; border-bottom-style: solid; border-bottom-width: 1px; padding-top: 5px;">
           </td>
          </tr>
          <tr>
           <td style="padding-bottom: 5px;">
           </td>
          </tr>
          <tr style="display: block; padding: 10px 2px 0px;">
           <td style="width: 100%;">
            <table style="width: 100%;">
             <tr>
              <td style="color: #D62829; font-size: 16px; font-weight: bold; letter-spacing: 1.5px; padding: 0px 0px 10px; text-transform: uppercase;">
               Women in VC
              </td>
             </tr>
             <tr>
              <td style="padding: 0 0 6px;">
               <a style="color: #d62829; text-decoration: none;">
                <img alt="Lady Boss nameplate" src="https://inboxflows.com/_/image/https%253A%252F%252Fsailthru-media.s3.amazonaws.com%252Fcomposer%252Fimages%252Fsailthru-prod-6ks%252FLady_boss_nameplate.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzYWlsdGhydS1tZSJ9:1kXMAz:qPu7AMbxjrQu_eSfpLz_yy0SOzX5vnv-MCpso7h3DWE" style="height: auto; max-width: 600px; width: 100%;" width="600"/>
               </a>
              </td>
             </tr>
             <tr>
              <td>
               <h2 style="font-size: 22px; font-weight: bold; line-height: 26px; margin: 10px 0px 5px;">
                Women-led VC funds are on the rise -- but they face significant challenges
               </h2>
              </td>
             </tr>
             <tr>
              <td class="h2020 ignore-defaults" style="padding: 5px 0px 0px;">
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                The VC world has been appropriately ridiculed for its comical monoculture. In the US, the
                <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
                 industry
                </a>
                is:
               </p>
               <ul style="font-size: 16px; line-height: 20px; margin: 0; padding-bottom: 10px; padding-left: 12px;">
                <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
                 70% white
                </li>
                <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
                 80% male
                </li>
                <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
                 40% of Harvard or Stanford stock
                </li>
               </ul>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                A new report from
                <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
                 Women in VC
                </a>
                shows that there is some movement on gender diversity, at least.
               </p>
               <h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; margin: 0px; padding-top: 8px;">
                <strong>
                 There are 320 female partners across 275 VC firms
                </strong>
               </h4>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                But the key stat here is that 49% of these women are “founding partners” -- meaning they had to literally start their own firm to get the top seat.
               </p>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                Across the entire VC industry, only 5% of partners are female (congrats to
                <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
                 Terri Burns
                </a>
                , who recently became the first black female partner at Google’s venture arm, GV).
               </p>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                With this reality, more women have taken destiny into their own hands. Across women-led VC firms, 73% were launched in the last 5 years.
               </p>
               <h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; margin: 0px; padding-top: 8px;">
                <strong>
                 Founding a firm is not easy, though
                </strong>
               </h4>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                According to
                <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
                 Fast Company
                </a>
                , 90% of women-led firms are labeled “emerging,” meaning their track record (portfolio, exits, returns) is lacking.
               </p>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                Without a track record, funds are smaller (&lt;$10m) and the traditional 2% management fee ($200k) is hardly enough to cover salaries, rent, legal, and admin.
               </p>
               <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                It’s progress but not enough to puncture the monoculture joke (which, admittedly, really isn’t that funny… except for the
                <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
                 Patagonia
                </a>
                vest jokes, that’s funny AF).
               </p>
              </td>
             </tr>
             <tr>
              <td>
               <table cellpadding="0" style="padding: 10px 10px 0px; width: 100%;">
                <tbody style="text-align: right;">
                 <tr>
                  <td align="right" style="display: inline-block; padding: 0px 0px 2px; text-align: right;">
                   <a data-tags="share facebook" style="color: #d62829; padding: 0 8px; text-decoration: none; white-space: nowrap;">
                    <img alt="Share on Facebook" height="30" src="https://inboxflows.com/_/image/https%253A%252F%252Fthdaily.s3-us-west-1.amazonaws.com%252Ffb_20200824020124.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZ0aGRhaWx5LnMzLSJ9:1kXMAz:Im5erQ41pC-K_f4Yl4d2W-Q0TLMMl6lpotTZP3dJKa4" width="30"/>
                   </a>
                  </td>
                  <td align="right" style="display: inline-block; padding: 0px 0px 2px; text-align: right;">
                   <a data-tags="share twitter" style="color: #d62829; padding: 0 8px; text-decoration: none; white-space: nowrap;">
                    <img alt="Share on Twitter" height="30" src="https://inboxflows.com/_/image/https%253A%252F%252Fthdaily.s3-us-west-1.amazonaws.com%252Ftwitter_20200824020136.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZ0aGRhaWx5LnMzLSJ9:1kXMAz:Im5erQ41pC-K_f4Yl4d2W-Q0TLMMl6lpotTZP3dJKa4" width="30"/>
                   </a>
                  </td>
                  <td align="right" style="display: inline-block; padding: 0px 0px 2px; text-align: right;">
                   <a data-tags="share email" style="color: #d62829; padding: 0 8px; text-decoration: none; white-space: nowrap;">
                    <img alt="Send as email to a friend" height="30" src="https://inboxflows.com/_/image/https%253A%252F%252Fthdaily.s3-us-west-1.amazonaws.com%252Femail_20200824020149.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZ0aGRhaWx5LnMzLSJ9:1kXMAz:Im5erQ41pC-K_f4Yl4d2W-Q0TLMMl6lpotTZP3dJKa4" width="30"/>
                   </a>
                  </td>
                  <td align="right" style="display: inline-block; padding: 0px 0px 2px; text-align: right;">
                   <a data-tags="share site" style="color: #d62829; padding: 0 8px; text-decoration: none; white-space: nowrap;">
                    <img alt="View on our website" height="30" src="https://inboxflows.com/_/image/https%253A%252F%252Fthdaily.s3-us-west-1.amazonaws.com%252Fweb_20200824020101.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZ0aGRhaWx5LnMzLSJ9:1kXMAz:Im5erQ41pC-K_f4Yl4d2W-Q0TLMMl6lpotTZP3dJKa4" width="30"/>
                   </a>
                  </td>
                 </tr>
                </tbody>
               </table>
              </td>
             </tr>
            </table>
           </td>
          </tr>
          <tr>
           <td style="border-bottom-color: #dddddd; border-bottom-style: solid; border-bottom-width: 1px; padding-top: 15px;">
           </td>
          </tr>
          <tr>
           <td style="padding-bottom: 5px;">
           </td>
          </tr>
          <tr>
           <td style="width: 100%;">
            <table style="width: 100%;">
             <tr>
              <td style="color: #D62829; font-size: 16px; font-weight: bold; letter-spacing: 1.5px; padding: 10px 3px 15px; text-transform: uppercase;">
               SPONSORED
              </td>
             </tr>
             <tr>
              <td style="padding: 0px;">
               <a style="color: #d62829; text-decoration: none;">
                <img src="https://inboxflows.com/_/image/https%253A%252F%252Fsailthru-media.s3.amazonaws.com%252Fcomposer%252Fimages%252Fsailthru-prod-6ks%252FSQBE_ISSUES.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzYWlsdGhydS1tZSJ9:1kXMAz:qPu7AMbxjrQu_eSfpLz_yy0SOzX5vnv-MCpso7h3DWE" style="height: auto; max-width: 600px; width: 100%;" width="600"/>
               </a>
              </td>
             </tr>
             <tr>
              <td>
               <h2 style="font-size: 22px; font-weight: bold; line-height: 26px; margin: 10px 0px 10px;">
                <strong>
                 So, you want to start your own side hustle?
                </strong>
               </h2>
               <p style="font-size: 16px; line-height: 20px; margin: 0px; padding-bottom: 12px;">
                Congrats -- that officially makes you a card-carrying member of our community (check your email for details on the group tattoo).
               </p>
               <p style="font-size: 16px; line-height: 20px; margin: 0px; padding-bottom: 12px;">
                Bring your new biz to life faster and easier than ever with Square’s simple-yet-powerful tools:
               </p>
               <ul style="font-size: 16px; line-height: 20px; margin: 0; padding-bottom: 10px; padding-left: 12px;">
                <li style="font-size: 16px; line-height: 20px; padding: 4px 0;">
                 <strong>
                  Payments:
                 </strong>
                 Accept every
                 <a style="color: #d62829; text-decoration: none;">
                  swipe, tap, invoice, or online order
                 </a>
                 quickly and securely.
                </li>
                <li style="font-size: 16px; line-height: 20px; padding: 4px 0;">
                 <strong>
                  eCommerce:
                 </strong>
                 <a style="color: #d62829; text-decoration: none;">
                  Design your own site
                 </a>
                 to take your biz online for free, or
                 <a style="color: #d62829; text-decoration: none;">
                  create checkout links
                 </a>
                 you can share on social - no website needed.
                </li>
                <li style="font-size: 16px; line-height: 20px; padding: 4px 0;">
                 <strong>
                  Hardware:
                 </strong>
                 Sell any way you want with
                 <a style="color: #d62829; text-decoration: none;">
                  Square terminals, registers, card readers, and more
                 </a>
                 .
                </li>
                <li style="font-size: 16px; line-height: 20px; padding: 4px 0;">
                 <strong>
                  Payroll:
                 </strong>
                 Get
                 <a style="color: #d62829; text-decoration: none;">
                  full-service payroll
                 </a>
                 (with tax filings and employee benefits) in one simple package.
                </li>
               </ul>
              </td>
             </tr>
             <tr>
              <td align="center" style="padding: 10px 0px 15px; text-align: center;">
               <a style="-webkit-text-fill-color: #ffffff; background: #D62829; border-radius: 15px; color: #ffffff; font-size: 16px; font-weight: bold; padding: 6px 20px; text-decoration: none;">
                See Square’s capabilities →
               </a>
              </td>
             </tr>
            </table>
           </td>
          </tr>
          <tr>
           <td style="border-bottom-color: #dddddd; border-bottom-style: solid; border-bottom-width: 1px; padding-top: 5px;">
           </td>
          </tr>
          <tr>
           <td style="padding-bottom: 5px;">
           </td>
          </tr>
          <tr>
           <td style="color: #D62829; font-size: 16px; font-weight: bold; letter-spacing: 1.5px; padding: 10px 3px 0px; text-transform: uppercase;">
            JOBS
           </td>
          </tr>
          <tr id="job listings">
           <td class="h2020 ignore-defaults" style="padding: 15px 3px 0px;">
            <h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; margin: 0px; padding-top: 8px;">
             <a style="color: #d62829; text-decoration: none;">
              <strong>
               Product Manager,
              </strong>
              <em>
               <strong>
                Clockwise
               </strong>
              </em>
              <strong>
               :
              </strong>
             </a>
            </h4>
            <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
             Be the first Product Manager at Silicon Valley's latest tech darling. Fresh with $18M in funding, be ready to make a big impact.
            </p>
            <h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; margin: 0px; padding-top: 8px;">
             <a style="color: #d62829; text-decoration: none;">
              <strong>
               Digital Content Manager,
              </strong>
              <em>
               <strong>
                Galapagos Conservancy
               </strong>
              </em>
             </a>
             <strong>
              :
             </strong>
            </h4>
            <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
             Keep donors up to date for this small but fast-paced NGO. And yes, there are turtles involved.
            </p>
            <h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; margin: 0px; padding-top: 8px;">
             <a style="color: #d62829; text-decoration: none;">
              <strong>
               Beauty Copywriter,
              </strong>
              <em>
               <strong>
                Moxie Lash
               </strong>
              </em>
             </a>
             <strong>
              :
             </strong>
            </h4>
            <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
             Bat your eyes at … er, no. Feast your eyes on this beauty writing gig.
            </p>
            <h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; margin: 0px; padding-top: 8px;">
             <a style="color: #d62829; text-decoration: none;">
              <strong>
               Product Analyst,
              </strong>
              <em>
               <strong>
                Super Dispatch
               </strong>
              </em>
             </a>
             <strong>
              :
             </strong>
            </h4>
            <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
             Hey there, Cap’n. Crunch user behavior data to help boost this brand’s engagement.
            </p>
            <h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; margin: 0px; padding-top: 8px;">
             <a style="color: #d62829; text-decoration: none;">
              <strong>
               Account Executive,
              </strong>
              <em>
               <strong>
                Aspireship
               </strong>
              </em>
             </a>
             <em>
              <strong>
               :
              </strong>
             </em>
            </h4>
            <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
             Into the B2B scene? Then this has got to be the one for you.
            </p>
           </td>
          </tr>
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           <td align="center" style="padding: 10px 0px 15px; text-align: center;">
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