Bastian Lehmann ๐บ๐ธ
@Basti
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Co-founder of Postmates (acquired by Uber) and Serve Robotics ($SERV). Now building a computer at Mother.
Joined January 2007
We believe in open source local AI. We are building a powerful & personal computer that runs local AI models and agents extremely fast. We are hiring in Mountain View. We believe good things start in a garage. We are Mother ๐๐ฅ๏ธ
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Food delivery is a joke now โ pure scam. Prices are absurd, markups are insulting, and the experience has gotten worse across the board. Iโd be surprised if drivers are making more today than they did when we launched Postmates. DoorDash is the absolute bottom, but Uberโs not far.
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Their "edge" was seeing the Postmates pitch deck while being an intern at Matrix Partners and no one will ever convince me otherwise.
There's a $50B company built on web scraping. No capital. No strategy. Just 3 hungry students solving a delivery problem. Their edge? Smart web scraping to gather restaurant data.
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I wonder if views should just replace likes and bookmarks should resume the place of likes. And that would prob make Twitter better because likes are basically just kudos to someone and may actually incentivize the wrong behavior. What do you think @elonmusk?.
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Is anyone building whatever it is that will replace LinkedIn?.
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I am getting a lot of questions about me supporting.@pmarca and @bhorowitz's decision to support.@realDonaldTrump and my reply is very simple: If you are a startup (aka little tech) you have to support the current Republican Party.
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When I was the CEO of @Postmates I always played it safe. I was passive - just like DC likes it. I supported both sides, never had too much of an opinion. I am over it. Pick a side, move on. Given the current agenda. I am pro republican and every startup should be.
I am getting a lot of questions about me supporting.@pmarca and @bhorowitz's decision to support.@realDonaldTrump and my reply is very simple: If you are a startup (aka little tech) you have to support the current Republican Party.
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The last time I founded a company we pivoted from to Postmates. It probably was one of the greatest startup pivots ever. Wish us good luck with going from Tiptop to - and follow @wearemother for updates. We're building a computer.
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I am moving to LA. I just want you to know San Francisco that it's not you, itโs me. Just kidding. It's totally you.
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Spent time with a few VC firms last week. Let me be blunt, most of them care more about being great and competing with other VC's than actually helping founders. And yes, some of the "good ones" too.
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I am launching a (small) $10M fund focused on LA startups and I am looking for a venture partner. Equal carry. DM me if interested. Maybe we call if WTF as in What The Fund!.
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I went to a few stores today to see how the CA reopening in SF is coming along. Every single staff member told me they are not comfortable with customers without a mask. Well done CA and SF politicians. People don't believe in science any longer.
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Is there a "I sold my company - what now?" self help talkshow for former CEO's on @joinClubhouse? .Asking for a friend. .
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Nine years ago we created @Postmates to empower local commerce and bring the best of your city to your home. Today we are proud and excited to join @dkhos and the @UberEats team to continue this mission across the US.
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I don't think we are giving @mlevchin enough credit for building all these amazing companies. He once told me he is considering investing between $0 and $1M into Postmates. It was $0 in the end, so don't even think for a second I am tweeting this because we are friends.
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VC Twitter telling everyone how to run companies so it fits their bullshit cookie cutters best is just so fucking annoying. I hope no one is listening.
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Greylock announcing a $500M seed fund and not replying to a single founder in their own Twitter thread! That's how you do it boys. ๐.
1/ We at @GreylockVC are excited to announce weโve raised $500M dedicated to seed investing. This is the industryโs largest pool of venture capital dedicated to backing founders at day one.
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Today weโre launching a totally new way to pay with Tiptopโs instant trade in at checkout. Here is how it works and why we're exited about it.
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9 Years ago we celebrated the first 1000 deliveries: - today we celebrate again. Well done Team @postmates, well done. โค๏ธ.
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Absolutely blown away by the tech community in LA.
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I am not even making this up. Travis just wanted a fancy ride. Tony was happy to come across a good idea but Sean and I poured our heat into this. It's not even an insult to anyone. It's just how it went down.
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I will spend an equal amount of money and time supporting ideas, products & initiatives that combat climate change.
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Here are you first Postmates billboards. How do you like them LA?
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Everyone knows that you should never ever reply to an email from an associate VC. Let me be clear: You are fucked if you do.
Talking with a VC Associate will almost never convert into actual funding. Just stating the facts.
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@TrevMcKendrick The single most defining moment was that we both pitched SoftBank and they did a better job and got the money. Maybe because they used tips to sub the fleet wages and make their unit economics look better than ours. Regardless. They won.
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Tonight, my heart is aching for the loss of a true trailblazer and warrior for justice.
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I came close to take @Postmates public via a SPAC. In the end though, it didn't feel right. It's not that it is inferior to an IPO. It just feels dirty. Anyhow. @bgurley is prob right. Direct listing is the absolute best way to do it - and I don't even like Bill much. ยฏ\_(ใ)_/ยฏ.
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@chrisfralic @Nithin I miss him every single day. Apple is using Postmates for every single same day delivery for almost 10 years now. My dream is to have Apple using TipTop as well. โจ.
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10 Million total deliveries and accelerating. Happy Friday and a huge Thank You from everyone at Postmates!
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If Red Hen is not on Postmates i will add it personally!.
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This is from the Postmates Series B (December 2013) deck. I am sure all of Silicon Valley has seen this by now but the slide holds true and is still the blueprint for almost every on-demand delivery company.
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I have to admit that despite Postmates being a household name in LA, I do not know much about the startup community there. Whom are great people to connect with now that I move there?.
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Fun fact. @elonmusk and I talked about Postmates joining @Tesla in 2016. He wanted us to built the app to destroy Uber. It didn't work out but it would have been a lot of fun.
Food delivery is a joke now โ pure scam. Prices are absurd, markups are insulting, and the experience has gotten worse across the board. Iโd be surprised if drivers are making more today than they did when we launched Postmates. DoorDash is the absolute bottom, but Uberโs not far.
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For anyone who is curious about whatโs next: I will invest my own money and that of a few friends in startups.
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I'm working on a new idea. Let's see how this goes. 2022.
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What a decade! ;).
Huge congrats to @Basti and his @Postmates team. True pioneers. Also will go down as one of the greatest pivots of all time. (can you even guess which one they were a decade ago?) ๐ฒ๐
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Thanks @patrickc - It's been amazing seeing both companies grow. You have been a fantastic partner!.
When @Postmates integrated Stripe in 2011, Stripe had fewer than 100 other customers (and hadn't yet launched). It's been a fun voyage scaling with them over the past nine years. Congratulations to @Basti and the whole team!
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For fuck sake Paul you are such an idiot.
So what was SVB selling? As far as I can tell, it was just unusually good at cultivating relationships with, um, Silicon Valley, specifically VC. Maybe it should have been called Schmoozing and Vibes Bank 4/.
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Your bank account might be frozen by the feds but when you get home your kids still scream dada dada and someone has to take the dogs out in the rain. ยฏ\_(ใ)_/ยฏ.
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Milestone: I'm so incredibly proud of the entire Postmates Team! We're now doing 1,000,000 deliveries per month! ;)
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@TrevMcKendrick Here is another thing. They had Alfred Lin as a board member who is such a great operator. We had close to zero operational experience on our board.
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After about a year in stealth it's time build in public. So what does TipTop do? Well, it gives you instant cash for the things you own, which means you don't have to try to sell them. Buy something, redeem our instant cash offer, buy something new. It's ambient ownership - or.
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Starting today @Postmates will observe Juneteenth as a permanent company holiday. Not just in response to the momentโbut to allow all of us time to reflect on the Black American experience (from 1619 to today) & the actions required to move forward together.
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From the team that brought you on-demand delivery. โค๏ธ๐ฅ- Thank you SF. I love you.
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@lexfridman Death is very likely the single best invention of life. It is Lifeโs change agent. It clears out the old to make way for the new. - Steve Jobs probably.
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What a sad person you are. Taking a shit on someone else's achievements and dreams. ๐.
I said it.
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Creating a new product and company from scratch after you had success the last time around is absolutely terrifying.
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Fundraising advice: Whenever you feel like you have to work really hard to convince someone to believe in what you are doing -stop and walk away. Just walk. No need to be polite.
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The reason the Democratic Party is not more pro tech startups is entirely Silicon Valley's fault. I was on many of the sub committees, the trips to DC, the bullshit governor meetings. Nothing ever got done.
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Iโm extremely proud of our entire team today and very happy that our announcement today falls right into the beginning of Yom Kippur. This is a good time to reflect on life, love and everything in between.
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We designed this for Shake Shack in 2016 but they didn't like it. ยฏ\_(ใ)_/ยฏ It would have prevented many soggy burgers.
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I invented the service fee for food delivery and I am still proud of it!.
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Is this a video about moving offices?.
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If anyone in SF is still at the office, here is what I'm up to these days: . . We still have no idea how to make it all work but feel free to join the waitlist and wait with us I guess. ยฏ\_(ใ)_/ยฏ.
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There was a generation of founders back in 07, 08 and 09 in SF that knew each other and that started out at the same time. It would have been incredible to have enough money back then to invest in each other. Something to think about.
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We have around $20M with SVB. I have not initiated a wire today but one is scheduled for tomorrow morning. My hope is SVB puts out a strong line of communication coming directly from Greg Becker - that will allow us to change our sentiment. It's not a good look that he is not.
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Ok hold on for a minute. What the fuck is happening here? I am moving to Miami.
Welcoming @chesaboudin! As founding executive director of Berkeley Lawโs new Criminal Law & Justice Center (@BerkeleyLawCLJC), Boudin sees an exciting opportunity to build on his work of transforming the criminal legal system in profound ways.
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Someone help me please. Here is the thing I don't understand. What is wrong with the COVID vaccines? Didn't it all work out for us?.
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In all seriousness, Friday was my last day at Uber/Postmates. I will be consulting for a while should they need my help. But I doubt they do.
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The very first version of the Postmates logo in November 2011.
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Now is the time for a new American airplane manufacturer. Built from the ground up with neural networks and US chips. I am raising $1B on a YC SAFE. DM's are open.
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Harry told me that people like this episode. This is good. I told him that it hopefully helps other people realize that it's ok to be you and don't just copy & paste in life.
The Postmates acquisition has to be one of the most insane M&A stories ever. ๐ต Sold for $2.65BN to Uber. BUT. ๐๏ธ The deal was negotiated with no collar so by the time it closed, the acquisition price was $5BN. Today, the full story of how the deal went down with @Basti . My 8
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The round is closed and we are oversubscribed. Thank you everyone. @garrytan also invited us to the next YC batch. First flight will be in June 2025.
Now is the time for a new American airplane manufacturer. Built from the ground up with neural networks and US chips. I am raising $1B on a YC SAFE. DM's are open.
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We're launching TipTop Shop today. A great place to shop for certified pre-owned stuff. Let me know what you think.
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Now might be a good time to do a little more than just urge people to get vaccinated! Like, make it god damn mandatory already. Everywhere. Fuck the feelings of the idiots who don't believe in vaccines.
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๐ต Some more details about our electric scooters in New York. Tweet me a photo if you see them on the streets.
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Now this is a quote I can live with: We were too dumb to invest in Bastian's previous company, Postmates, so we're excited to finally fix our mistake!" Marc Andreessen ๐ .
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Insights into scaling @postmates: 116 weeks to get to 500K deliveries, 20 weeks to 1M and 10 weeks to 1.5M! http://t.co/l4SrvBVjFE.
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Picked up playing Golf again after a 20 year break. I love it.
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At Postmates we stand for the American promise, that weโre all worthy of protection, weโre all equal, and we all count. As we mark a year of partnership with the @ACLU to stand up against the ban, today we also stand undeterred that we are a nation of immigrants. Donโt be silent!.
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๐ต 60 mile range, 30 mph, zero emission and now available to lease in New York. Postmates Scooters.
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Having proudly served myself: Any service member qualified to serve, should be able to. Regardless of race, color, creed or orientation.
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Look, it get it. Itโs scary. Itโs scary as fuck. But VCโs or even worse, smart people losing it and tweeting about the end of the world scenarios is not gonna cut it right now. So get ahold of yourself. Share what can help or better yet - do help! And stay calm.
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App update notes are serious business at Postmates ๐ค
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