Latest news with #M13
Axios
a day ago
- Business
- Axios
M13 co-founder says communications is key to standing out in venture capital
Sharp, clear and persuasive communications are no longer optional for investors and founders, M13 co-founder Carter Reum said at an Axios event in Cannes. Why it matters: In a world where "everything is commoditized," Reum said, differentiation depends not just on what you build, but how you explain it and bring stakeholders along. What he's saying: "It's never been easier to start a company, but it's never been harder to be a successful company," Reum said. He says their success comes from the commitment to take "a very hands-on approach and then we communicate it. In everything we do, we have to have that reason for being, that reason to win, and that has to be communicated effectively." Between the lines: This also applies to the early-stage companies the venture capital firm invests in, he says. "One of the things that I look for in founders today is the ability to inspire, and what I mean by that, and why that's so important is, when you're starting off, you have to inspire or persuade a customer to take a chance on you," he said. "You have to persuade that key hire to come and leave their cushy job and come work for you. You have to inspire or persuade somebody like me to write you a $15 million check. And if you can do that every day, you have slightly better odds." By the numbers: A plurality of Americans think founders and CEOs need a public persona, according to a recent Morning Consult. Roughly 8 in 10 U.S. adults said a company's CEO affects their perception of that company, according to the survey. Meanwhile, executive posts on LinkedIn have surged 23% since last year, according to LinkedIn data shared with Axios. 70% of Gen Z want to hear from CEOs across social media, while 55% say they'd listen to CEO interviews on podcasts What to watch: Reum predicts AI will supercharge the way marketers and communicators work. Because AI can expedite the creation of content, "experiential events [will] become more valuable," he said. "I think it's people like my wife, [Paris Hilton], who prided herself on authenticity, [who] become more relevant. Because a year from now, a third of the things you look at on Instagram will be AI."
Yahoo
7 days ago
- Yahoo
Returned illegal Abrego Garcia pleads not guilty; judge yet to rule on pretrial custody
After nearly six hours of testimony Friday, accused human trafficker Kilmar Abrego Garcia is no closer to learning whether he can be released from custody pending his federal trial in Nashville. The pretrial hearing began with Abrego Garcia, an alleged MS-13 member charged with the trafficking of undocumented migrants and conspiring with others to do so, pleading not guilty. Garcia's legal team told U.S. Magistrate Judge Barbara Holmes Friday it had time to review the indictment and that Garcia understood what he is accused of before he formally entered the plea, which stems from a 2022 traffic stop. The federal criminal case against Abrego Garcia comes after a high-profile, protracted legal fight over his deportation and the Trump administration's efforts to delay his return to the U.S., even after the Supreme Court ordered the administration to "facilitate" his release. Democrats Celebrate Return Of Suspected Human Trafficker Kilmar Abrego Garcia Abrego Garcia sat silently during the proceedings, wearing a red jumpsuit with an orange undershirt, his gaze mostly concentrated on the prosecution and a window in the courtroom. Abrego Garcia's mother, brother and wife were present in court, as were members of the nonprofit Court Appointed Special Advocates (CASA), which was helping with some translations for the family and providing moral support. Read On The Fox News App During the hearing, the prosecution brought forward Special Agent Peter Joseph, who told prosecutors he was first assigned to Abrego Garcia's case in April 2025, when Abrego Garcia was still detained in El Salvador. Since then, Joseph said, he has reviewed footage from Abrego Garcia's 2022 traffic stop, which has emerged as the basis of the human smuggling charges. At the time, Joseph told prosecutors, Abrego Garcia had been driving a vehicle with nine passengers and was pulled over while traveling from St. Louis to Maryland with an expired license. Homeland Security Reveals Identities Of The 4 'Public Safety Threats' Who Escaped Newark Ice Facility Six of the nine passengers in the vehicle have since been identified as being in the country illegally, Joseph said, adding one passenger in the van told officers he was born in 2007, which would have made him just 15 at the time. Joseph said that, based on evidence, Abrego Garcia was paid $1,000 per trip and that he would transport 50 people per month. Ice Breakout In New Jersey Symptom Of Democratic 'Chaos' Across The Country, Local Gop Leader Says In addition to the smuggling, Joseph alleged Abrego Garcia also engaged in inappropriate conduct with underage girls he was transporting, including a 15-year-old allegedly asked by Abrego Garcia to send him nude photos. During the defense's cross-examination, however, it was noted that Joseph was not present for some of the interviews with female sources, which led the defense to claim his testimony was based on hearsay and should be thrown out. Holmes, however, allowed all the testimony, without striking anything. Acting U.S. Attorney Robert McGuire also discussed two protective orders filed by Abrego Garcia's wife, Jennifer Vasquez Sura, in 2020 and 2021, in which she described him as abusive and domineering. McGuire argued in favor of Abrego Garcia remaining detained pending trial, saying he poses a flight risk and a danger to the public based on what he called a commonsense view of the highway patrol traffic stop and the evidence presented in court of there being serious concerns about the transportation of minors. However, Will Allensworth, a federal public defender representing Abrego Garcia, argued the testimony was disorganized and that it is unclear how much of it was based on hearsay. He claimed there should be no concern about Abrego Garcia being a flight risk because he would go straight into ICE custody. Appeals Court Grants Trump Short-term Win Over Boasberg In Immigration Ruling Another public defender, Dumaka Shabazz, argued the charge being leveled is not a crime of terrorism, which he said clearly supports his release. Shabazz also said Abrego Garcia has experienced trauma and depression due to his deportation, has strong ties to the community and all of his loved ones are in the U.S., so he has no incentive to flee. Click Here For More Immigration Coverage Holmes did not set a date for the next court hearing but said it will be determined article source: Returned illegal Abrego Garcia pleads not guilty; judge yet to rule on pretrial custody
Yahoo
20-05-2025
- Business
- Yahoo
Crypto needs to fix its image—or it'll stay stuck in its malaise
Crypto is a tale of two worlds. On one hand, the space has never had as strong a product-market fit as it does today across a range of categories, from payments to infrastructure to decentralized finance. Builders have access to capital, a more welcoming (if still imperfect) domestic regulatory environment, and increasingly mature infrastructure. It's easier to build and use crypto products now than at any point in the past. Yet on the other hand, the space continues to be awash with grift, short-termism, and a lack of broader public support. Sentiment was supposed to be different in 2025. Instead, a malaise still hangs over the market. What gives? Having been investing in crypto since 2019, I'm no stranger to skepticism about the space. I'm a believer, of course, and readers of the crypto trades embrace the field—and I'd even venture to say a significant portion of Fortune readers are believers, too. We don't have to convince each other. We feel the potential and see the progress; the outside world largely sees confusion, scams, and broken promises. So it's worth writing this and continuing the conversation among friends and skeptics alike. The fact is crypto's biggest headwind isn't regulation, price action, or even grifters. It's perception. From the outside looking in, the industry often comes off as unserious. But beneath the surface, real businesses solving real problems are being built. We need to advance the conversation beyond the crypto echo chamber on X. We need to build businesses that solve real-world problems—not just airdrop hype or pocket JPEGs as NFTs. Because that's what the outside world is seeing. Despite the perception, real progress is happening. Measuring crypto adoption is notoriously difficult, but estimates suggest that around 7% of the global population owns crypto today. That's meaningful, but it's nowhere near enough. We haven't had the 'my mom is using crypto' moment yet. In my day job at a generalist venture fund, I don't care whether a company uses blockchain or not. But I do care if blockchain unlocks a meaningful advantage. Crypto is a 'choose your own adventure' technology and can be applied in a million ways. Sometimes it's the right tool, sometimes not. Removing friction—whether in cross-border payments, mobile, or beyond—is how we get crypto to the mainstream. Not by preaching to the choir. Not by leaning into financial speculation. But by creating experiences that are better, faster, and cheaper for everyday people—even if they don't know (or care) that crypto is under the hood. Consider DePIN (Decentralized Physical Infrastructure Network), which refers to a physical infrastructure network that uses blockchain to improve the efficiency of a network (e.g., wireless networks, energy grids, data storage, etc.). Projects like Helium and M13 portfolio company Hivemapper incentivize consumers with tokens to participate in their networks (i.e., deploying wi-fi hotposts for Helium, dashcams for Hivemapper), and as a result they can build networks with structurally lower capex costs than their counterparts. Does the average person know what DePIN is? No. But the average person doesn't understand or care how Google Maps or Boingo Hotspots work either. In both cases, blockchain is the catalyst. Token incentives offset the massive capital expenditure that traditionally gatekeep infrastructure build-outs. Participants are rewarded for participation, and networks are scaled faster and cheaper than we've seen with that of innovations built on Web2, where users felt compelled to build out and contribute solutions through user generated content and social media. That is the DePIN playbook at work. Stablecoins—tokens that are pegged to a fixed value, often a fiat currency—have become one of crypto's real-world use cases. In 2024, stablecoin volumes hit $8.5 trillion. While small compared to the $190 trillion in global cross-border payment volume, they're growing rapidly for good reason. Programmable payments, 24/7 operations, and nearly instant settlement of stablecoins offer compelling alternatives to the traditional correspondent banking model plagued by trapped liquidity, opacity, high costs, and slow timelines. Friction in cross-border payments will dissipate as dollars become digitized in the form of stablecoins. Another overlooked area for friction removal is the mobile experience. Today's mobile web is riddled with clunky payments, difficult authentication, and poor identity management. Mobile crypto apps have historically made this worse, not better. But that's starting to change. Crypto wallets like Phantom are bringing intuitive, consumer-grade experiences to crypto. Mobile wallets are getting easier to set up, fund, and use across applications. Meanwhile, hardware innovation is picking up steam. The team behind the blockchain Solana developed its own phone, the Saga, and while it may not replace the iPhone anytime soon, it was a strategic signal: The future of crypto needs to be mobile-native, not just mobile-compatible. Expect deeper OS-level integrations—from native wallets to decentralized identity management—to become table stakes in the next wave of devices. Crypto enthusiasts already imagine a future where signing into an app, sending a payment, proving your identity, or verifying a document is native to your phone without needing dozens of middlemen apps or endless passwords. Now, it's time to simplify the message and make it relevant to outsiders. To truly break through, the crypto community needs to address our industry-wide marketing problem. Here's how: Speak in benefits, not features: Talk about what crypto enables, not how it works. Embrace accessibility: Build products that feel familiar while delivering new value. Demonstrate integrity: Actively distance ourselves from the scams and schemes. Show don't tell: Let working products build credibility instead of promises. The next wave of crypto winners will make the technology invisible and inevitable—solving real problems that matter to people outside our echo chamber. I feel that's already happening. Crypto has a marketing crisis, not a tech one. We need to stop convincing ourselves and start welcoming outsiders through demonstrable value. Only then will we transform from a niche technology movement into the foundation of a more efficient, accessible digital future. The opinions expressed in commentary pieces are solely the views of their authors and do not necessarily reflect the opinions and beliefs of Fortune. Read more: America must harness stablecoins to future-proof the dollar Stablecoin legislation risks sowing seeds of a financial crisis The U.S. dollar's strongest ally is crypto Elon Musk wants the U.S. Treasury to be on a blockchain. That's a terrible idea—take it from a big proponent of the technology This story was originally featured on Sign in to access your portfolio
Bloomberg
12-05-2025
- Business
- Bloomberg
Managing Supply Chain Changes Amid Trade Uncertainty
Carter Reum, partner and co-founder of venture firm M13, discusses how his portfolio company Pietra is helping e-commerce businesses adjust their supply chains in the face of tariffs. Reum speaks with Caroline Hyde on 'Bloomberg Technology.' (Source: Bloomberg)
Axios
24-04-2025
- Business
- Axios
Independent journalists prioritize community building for growth
Influential journalists who have positioned themselves as subject matter experts and amassed large followings are ditching traditional outlets to venture out on their own. Why it matters: These independent journalists are grappling with the same challenges that many communication and brand teams face. That is, how do they differentiate themselves in the market and establish a strong reputation with the audiences that matter most? State of play: As trust in media declines, independent journalists are pivoting away from writing for passive readerships and toward building a hyper-engaged community — and it's proving to be quite lucrative. The Free Press, founded by former New York Times writer Bari Weiss, boasts more than 155,000 paid subscribers and is estimated to generate at least $10 million annually from subscription revenue, per Axios' Sara Fischer. Former Bloomberg reporter Eric Newcomer announced that his independent media entity, Newcomer, brought in $2 million in revenue in 2024 and he has recently made his first round of hires. Former CNN reporter Oliver Darcy's Status newsletter has accumulated more than 70,000 total subscribers since its launch and is estimated to generate $1 million in annual recurring revenue. The latest big-name journalist to make this pivot is former Forbes editor Alex Konrad, who last month launched Upstarts Media, covering the startup ecosystem. The big picture: The volatility of the news industry, paired with the growth of publishing platforms, has made independent journalism more appealing but has also led to more media fragmentation. The formats and distribution channels are also evolving, with news personalities like Jim Acosta and Chris Matthews hosting daily live shows on these creator-owned platforms like Substack, for example. Between the lines: Independent ventures enable journalists to become hyper-specific on coverage areas and desired audiences — and it allows them to engage with these audiences as they wish. Konrad created a WhatsApp group for the founding subscribers to his Upstarts newsletter, in which he actively hosts conversations. Substack writer Emily Sundberg is known for engaging in real-time through her comments section. Driving the news: Christine Choi, partner at early stage venture capital firm M13, gathered several journalists who ditched traditional newsrooms to build their own media empires — like Newcomer, Konrad, Polina Pompliano and Zack Guzmán — to help make sense of the evolving landscape for a room full of investors, founders and communication professionals. Media entrepreneurs like Business Insider co-founder Henry Blodget, Quartz co-founder and CEO of Charter media Kevin Delaney and Capital Allocators founder Ted Seides were also in the crowd. What they're saying: In-person events are a major component of community building, Konrad told me during our on-stage conversation at the M13 event. "The media landscape and technological trends [are] pushing us towards community, towards a direct relationship with your audience," he said. "The most important thing about events is to have a moment where I can talk to a bunch of people that matter to [the startup] ecosystem and help them meet other people within the ecosystem. "It's not just revenue for me. It's about seeing that close connection with our audiences grow."
