Keep pulling the thread on Paul Erlanger.
FOMO plans to launch global access to equities and perpetuals for non-US users.
FOMO has between 50,000 and 60,000 daily active users.
Paul Erlanger predicts that the IPO performance of OpenAI and Anthropic will be highly correlated with the performance of the SpaceX IPO.
Paul Erlanger believes it is feasible for a company to spend 20% of its developer salaries on AI model tokens at their current prices.
FOMO raised a $75 million Series B round at a $550 million post-money valuation.
In FOMO's $75 million Series B round, Index Ventures invested $55 million and Union Square Ventures (USV) invested $15 million.
For the first 8 months of building the company, no one on the FOMO team took any pay.
FOMO operates with 17 team members, no internal hierarchy, and no one-on-one meetings.
FOMO's initial funding round was an angel-only round with 140 investors and no institutional participation.
FOMO's core group of 5 to 10 early, non-founding employees received founder-level equity stakes.
Harry Stebbings predicts that Revolut's valuation in its next funding round will be considerably higher than Robinhood's current valuation.
Robinhood has over 20 million funded accounts in the United States.