In Las Vegas, Kalshi Is King

For 15 years, Goldman Sachs’ private tech conference in Las Vegas has been the event for taking the pulse of startup dealmaking. Years ago, it was possible to run into founders such as Uber’s Travis Kalanick and Instagram’s Kevin Systrom raising money for their then-small startups. The conference is much bigger now (which makes some investors grumble), but it remains a nexus for investors who want to throw money at hot startups—and forgotten founders trying to remind investors they exist. 

The hundreds of tech bankers and investors hustling past the humanoid robot display through a labyrinth of meeting rooms this week offered a striking snapshot of how eclectic the industry has gotten. One minute you’re talking to a founder whose startup makes hypersonic engines for satellites, the next you’re learning about a robotic cat litter box company. (Business is good because “cats always need to poop,” I was told.) And, of course, there were consumer apps (Strava), chip companies (Groq) and developer toolmakers (Clickhouse), which were all flooded with investor meeting requests.