Exclusive: Andreessen-Backed Divvy Homes Lays Off 12% of Staff as Rates RiseView Now

Sept. 10, 2022 7:00 AM PDT

Tux Pacific dreams of anarchy. “We need to convince people to opt out of the current system of things,” they said. “We need to make the state powerless.” The founder of one-year old crypto company Entropy, Pacific (who uses they/them pronouns) is a rarity in Silicon Valley circles—and not just because they're transgender. They’re also vocal about their stance as a free-market, anti-capitalist anarchist, meaning Pacific still wants a free-market economic system, but one without state involvement. Crypto is their path to this goal, and in June, they got a co-sign on their vision via a $25 million seed round led by Andresseen Horowitz.

While crypto marketplace Coinbase holds assets on behalf of its customers—a distinctly centralized practice—Entropy uses complicated cryptography to let users store and access their crypto in a decentralized manner. Pacific has likened its core product to a sort of Google Authenticator for digital assets: Entropy will validate users’ transactions without actually storing their assets. Here, the 26-year-old founder walks us through their unconventional life path, from being raised Mormon to raving their way through NFT.NYC.

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Andreessen-Backed Divvy Homes Lays Off 12% of Staff as Rates Rise
Adena Hefets, co-founder and chief operating officer of Divvy Homes Inc. Photo: Bloomberg
Divvy Homes, a property tech startup backed by Andreessen Horowitz and Tiger Global Management, laid off about 12% of its staff Tuesday. The cuts reflect how younger real estate firms are responding to rising mortgage rates that have battered the home-buying market. The layoffs affected roughly 40 employees at the five-year-old firm. Divvy Homes buys homes in the U.S. and rents them to people...
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