Jason Somma

@paulg Did they get the money via SAFEs or from another (debt/equity) instrument?

I talked to a startup today that had been forced to take so much from investors and whose expenses were so low that they could put the money in bonds and fund their operations off the interest. I told them they should.

@RegularJoe_Ceo @JonTayl96319385 @TheViewFromLL2 Other other hand, the federal government locks a lot of data up itself in Pacer. You want to get enraged about something, look into that. reuters.com/legal/governme…

@RegularJoe_Ceo @JonTayl96319385 @TheViewFromLL2 The data that private providers lock away is derivative of publicly accessible information. The actual decisions and laws at the federal level are generally available outside their systems. They make it easier to use. States sometimes have private arrangements.

LMAO, it looks like DOGE canceled the Security and Exchange Commission's Westlaw access, because Elon's team saw "Thomson Reuters" and thought it had to do with the news agency.

@RegularJoe_Ceo @JonTayl96319385 @TheViewFromLL2 If they’re ditching westlaw because of duplicative systems or because they have another resource to solve this, fine. The LOC or academic libraries don’t solve this issue.

@RegularJoe_Ceo @JonTayl96319385 @TheViewFromLL2 The government doesn’t build and hasn’t built tools like that. So it’s false that Westlaw is a product that’s 1000% government funded. If they don’t have these tools, then the government needs to find a way to address the inefficiencies caused by ditching them. 2/

@nickbraun @bgurley FWIW, I’d strongly counsel any client against a deal like this.

@nickbraun @bgurley For the company? Probably because the board wanted to preserve the ability to grow out of the pain. As a lawyer, you can counsel your clients. Unless it’s illegal, your job is to provide them information to make an informed decision, not to make a decision like this for them.

A "compounding ratchet" sounds painful (it is!). Looks like company agreed to "dirty" term sheets. On the IPO, some investors will now have an incentive to push for a lower price. Best to steer WAY, WAY clear of investors asking for compounding ratchets. abovethecrowd.com/2016/04/21/on-…

@pitdesi @luke_metro It has to be… I don’t know how else it gets to those numbers

@luke_metro I would assume so

Bay Area captured 35% of all VC $ (on Carta) in the last year. New York is #1 for fintech though, at 24%. & bc it always comes up- Miami fell off the chart 🫠

@chrisbriem I tried to add a guest pass 2 weeks ago and saw this. I’m guessing they’re keeping it under wraps to avoid people parking in places like Schenley Farms and south Oakland.

City of Pittsburgh peeps.....Just curious if people know this at this time:

@patio11 Also, lenders aren’t going to risk their position. They are going to bake the costs into their lending fees/interest to offset loses from defective title. And cash transactions don’t have mandatory title insurance.

@patio11 Have you ever dealt with a title claim? They can be extraordinarily high. Also, in many states, title insurance fees are set by state insurance regulators. If getting quoted higher, is something abnormal about your transaction or are you seeking additional coverages?

Me prior to buying a house: Title insurance seems like one of those quaint American rackets like registered agents but how much can it possibly cost. Me after learning that number: Burn it with fire.

@patio11 Also, someone has to do the work to ensure there isn’t some weird estate issue or claim associated with the property. If title insurance doesn’t exist, someone still has to resolve those issues.

@H2PSports Being there as a kid, yes you could see into the stadium from the upper floors of Sutherland. Not sure if you could see the entire field.

Hadn’t considered this yet and it’s hard to tell from the angle but if you were o a top floor in Sutherland could you see into the stadium at all? Maybe like the stands on the opposite side of the field at least?

@pitdesi The PP restaurant value largely depends on the airports you fly regularly. The PPRs are only really worth it in a few cities (for me, the only place I really got value was at SFO). Also, the lounges vary widely (I like them at PIT, SJC, and internationally, but domestically? 🤷‍♂️)

I'm burning my pts and will cancel my Chase Sapphire Reserve. The PP restaurant benefit was great - I'd been getting a meal most times I depart & land, easily >$700/yr. The Priority Pass lounges are mostly bad, not a huge loss. I think Robinhood will be my daily card for everything except Amazon. Downsides: CSR was primary car insurance, RH is secondary. To get 5% cash back on travel with RH you have to book through their portal, I was getting effective 4.5% with CSR. Anyone have other ideas for cards to use on travel dining > 3% CB? btw not lost on me that this optimization is a relatively insignificant amount of $ but I enjoy it so let me be.

@chrisbriem It’s going into the existing Liberty East building. There’s already a sign up.

One: I told you. Is this saying an entirely new bank branch is going on the undeveloped Gumberg plot there, or in the existing building/developed parcel alongside Whole Foods? How many banks can we fit into East Liberty I wonder. wpxi.com/news/local/pnc…

I couldn't agree more. The City of @Pittsburgh zoning code is long in need of a review/refresh. Projects that should get greenlit can't, and developers resort to trying to use the ZBA to get variances (which isn't appropriate).

@PittFanAlli I believe it traces back to when Pittbsurgh went into Act 47 financial oversight, placing the city finances under state control in 2004. There were reductions in force, and attempts to optimize snow plow routes. I recall a distinct before/after experience w/ clearing streets.

It’s great to see an increase in venture capital to cities outside of coastal hubs. Often, there are distinct problems that exist as a function of geography/population/industry that local entrepreneurs/technologists are best suited to solve. ⁦@axios⁩ axios.com/local/nw-arkan…

@danielgilman If the citizens of Pittsburgh want developments like this, then focus needs to be on powers that have the authority to change the code. The ZBA can only find facts and apply the zoning code and state law. They have no authority to change code/law.

@danielgilman 💯. Ultimately the failure here collectively is at the feet of past and present elected officials on city council and the mayor. The ZBA isn’t the proper venue to get developments like this built.

I'm disappointed to hear that the proposed redevelopment of the ShurSave isn't going to proceed as proposed. We need more housing, more density, more urban development. The problem is not the ZBA though, they are following the law and court rulings, the problem is outdated codes