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1/ Salesforce 约 20 亿美元收购 Listen Labs。 这家公司成立还不到 3 年，累计融资不足 1 亿美元。 创始团队预计分走约 11 亿美元，投资人用 9600 万美元本金赚取约 8.5 亿美元利润，综合回报接近 10 倍。 这笔钱最终流向了谁？👇

Salesforce acquires Listen Labs for ~$2b. But who gets the 💰? My usual breakdown below 👇 The company was founded in Sep-23 and had raised less than $100m. Investors will share ~$850m of profits on $96m invested, a ~10x blended. From a huge pivot to a unicorn valuation term sheet they refused, this is truly a wild story ✍️. In the end an incredible outcome for all involved. So let's dive in! 1) The boldest move: walking away from $1.5b 🎲 Listen Labs had a signed $125m Series C term sheet from Menlo at a $1.5b valuation... and walked away from it to sell to Salesforce at ~$2b. This takes a huge amount of courage: few founders turn down a signed unicorn-plus round. @itsalfredw and @florian_jue did it 2.5 years after founding. Huge congratulations are in order for the discipline and execution of the founders here. 2) Founders and team: a life-changing outcome in under 3 years 🥳 By my best estimates, founders and team still own over half the company. At $2b, that's ~$1.1b for them to share. Specifically, assuming a 15% option pool, that is ~$300m for the team and ~$750m for the two co-founders. And, as was the case with Hugging Face, this is all from a pivot. They originally built an AI customer-interview tool to understand why their viral app BeFake was growing, then realised the tool was the business! 3) Sequoia's Bryan Schreier did it again 👑 What few people know is that Bryan was an early backer of Qualtrics... the category Listen Labs is disrupting. Now he led both the seed and the Series A here. By my estimates, those two rounds will return ~$670m combined, or ~25x on ~$27m invested, in under three years. Pattern recognition and industry knowledge have their perks, it would seem! 4) Ribbit: 4x in 8 months ⚡ Ribbit led the $69m Series B in Jan-26 at ~$500m. At $2b, that's ~4x in 8 months. Unbelievable IRR and a great return on a meaningful cheque. 5) Neo does it again, congrats @apartovi 🎯 Listen Labs went through the Neo accelerator early on, which came with a $600k SAFE. On my estimates, that cheque is worth ~$25m+ today. This comes just three months after Cursor's acquisition (a cool >1,000x for Neo). What a hit rate! This one is very straightforward: it is a massive win for everyone. And so congratulations to all involved: Sequoia, Ribbit, Conviction, Pear, Neo and the team!

China pork prices, second week of September 2026: Live hogs: ¥11.54/kg (down 0.4% week on week) Pork at farmers' markets: ¥21.22/kg (flat) Pork at wholesale: ¥16.28/kg, down 17.4% year on year Cheaper pork for consumers, tighter margins for farmers. Officials expect prices to move in a narrow range in the short term, as cooler weather lifts demand while some farms speed up sales. Source: China Ministry of Agriculture and Rural Affairs (monitoring of 500 county markets and 200 wholesale markets) #hogs# #pork# #agriculture#

I dramatically underestimated the value of Grok Bot in my Tesla. Can you technically do everything you’re able to do with Grok Bot in the Tesla just by launching the app on your phone and going voice mode? Sure. But the magic isn’t in the raw capability itself, it’s in the combination of raw capability and total seamlessness. I often have fleeting thoughts while driving around. Some of these things aren’t significant enough to make me fumble around with my phone while supervising FSD, but when I literally don’t have to lift a finger and can just “Hey Grok” anything computer related into reality, I find myself taking advantage daily. And the little things add up. I’m on my way to work and remembered that I have a few documents on my home computer that I am going to need for work. So I just asked “Hey Grok, can you grab those 4 pdf files from my Mac downloads folder and move them into X folder on my one drive?” Now they’ll be where I need them to be when I get to my desk, and I won’t have to re-download them on my work machine. I have to work on a presentation today for a talk in a few weeks. “Hey grok, go into my sales enablement folder and have Claude Code build me a deck focused on X product for Y industry.” Claude already has my full job context, styling preferences etc and can build a nearly finished deck with a prompt. Now when I get to my desk, instead of building from scratch, I can review and prompt revisions before beginning to dig through my email backlog. Feels insane.