Kjerstin Erickson (KJ)
@Kjer
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Just out here buildin' a billion $ hold co - but make it with ❤️. CEO Arising Ventures: we buy high-margin tech cos. Personality: hating GMeet & loving TSwift
San Francisco, CA
Joined January 2009
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Send us removal request.
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My team and I have been having so much fun building Arising Ventures since the beginning of 2020. When we were just getting started in this crazy world of tech turnarounds, we had no idea just how good our timing would be. We found some amazing deals and delivered some incredible
“What have been your best investments at Enduring Ventures?”
IRR? Jyve. 7,000%. $100k to $7 million equity value.
Cash on Cash? Abstract. 100% of cash returned within two weeks.
Meet Arising Ventures. The team that did both is now a dedicated HoldCo.
The story 👇🏻👇🏻
It all
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1/ I'm tired of decentralization conversations resorting to boring binaries (“All will be decentralized!"/“Nothing will!”). There’s huge nuance to which platform giants are at risk. I created the Disruptability Index to advance our understanding. Thread👇
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Things that can be simultaneously true about Elon & Twitter:
A thread (1/7)
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1/ The business landscape as we know it is poised to be radically transformed by blockchains. It’s not just ICOs or payments, but something even more important and omnipresent. Thread and post below.
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🚀🚀 I'm thrilled to announce that the Public Market eCommerce marketplace is officially launched and open for business! 🚀🚀
Check out the video, then start earning massive rewards for your holiday shopping at
A future of fair commerce is within reach.
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Today we announced Public Market, a decentralized, open architecture for commission-free eCommerce.
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After a year of heads-down development, I'm so excited to finally unveil Public Market (
@PublicMrkt
). We're building a new, fair, and open source architecture for marketplace eCommerce. Please support us by checking it out:
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Mine was the legend
@Bill_Gross
.
Didn't make him his money back on that bet but one of my goals is to someday pay back with interest every investor that ever bet on me. And yes that includes you
@ericbahn
:)
Who was the very first investor that said YES to you, ever? Tag here and let’s recognize these true believers!
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"The most interesting companies in the next decade will be contrarian. They won't fit the VC mold."
#xavierpreseed
http://t.co/XNSx66Usuq
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Simbi is officially launched! Exchange your talent for over 15,000 services in the network. Join us! via
@TechCrunch
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Am I the only one who judges people for using Google Meet in their invites instead of Zoom? Immediate negative signal for me. Lazy or cheap.
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1/ One of the conventional wisdoms floating around
#Consensus2018
and NY Blockchain Week as a whole is that, as an industry, we’re far away from legitimate consumer products. I’m not so sure. (Thread)
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7. It is possible to be turned off by how Elon is approaching parts of this AND still want him to succeed
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If you’re not a little underprepared you’re not doing it right.
One of the keys to success in life is being willing to do things before you are ready.
You learn so much more from experience than from studying and planning that it's like a 10X multiplier on your progress.
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I desperately miss the financial reporting of
@VanityFair
circa 2008-2011.
Hoping we’ll at least get reprieves of that glory as we seek to unpack SVB’s collapse and it’s aftermath.
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1. Twitter is insanely bloated AND there is a way to lay people off without inspiring massive backlash
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@coinbundlecom
@saadhrizvi
@PublicMrkt
Had a great time being interviewed for this. Thanks
@saadhrizvi
and
@coinbundlecom
for the good conversation.
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Long day today. At the end of it, i get to come home to messages like this one.
#bestjobever
@HeySimbi
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1/ At
@PublicMrkt
, we’re moving marketplace commerce to the protocol layer. Today our CTO
@AnthonyNystrom
provided the first deep dive into the Public Market Protocol.
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A-fucking-men
Obama on call-out culture is such an anthem for our times.
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The "sharing" economy makes economic sense RT
@pm
I like this picture from the economist
http://t.co/YZISWffNdw"
http://t.co/a2RMYEUMch
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Enduring Ventures' annual shareholder letter is out! Incredible progress from this talented and integrous team of entrepreneurs that I'm honored to work alongside. Congratulations on the successes and thank you for the transparencies,
@XavierHelgesen
and
@SievaKozinsky
.
Here it is! 2021 shareholder letter for Enduring Ventures Inc.
We are a long term holding company dedicated to building abundance for our employees and shareholders through ownership in diversified, cash-flowing businesses.
Full letter in the 🧵
Here's our progress to date:
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We'll look back on fiduciary duty as the moral abstraction that destroyed the planet.
Valley's "Come to Satan" moment with Trump is happening even faster than I feared MORE UPLIFTING STUFF FOR TODAY
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Oh BABY.
We’re building a baby Berkshire Hathaway.
The crazy part? We plan to pay 0% capital gains, compound w/ low taxes, and give our investors the same luxury.
Here’s the playbook (that you can use too):
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5. Wartime CEOs need to behave differently that Peacetime CEOs AND that doesn’t mean that Wartime CEOs need to publicly humiliate and ridicule to succeed
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"The problem is that the tech world has gotten really good at the hunt. But we still don't understand how to farm."
@garyvee
#websummit
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That's right. RT
@heysimbi
“I Simbi because I want to build an economy in which everyone is better off.” - Simbi CEO
@kjer
#SymbioticEconomy
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.
@PolymailApp
just launched! It's the mail app for productive people. I <3 the team! Check it out on
@VentureBeat
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Hard disagree. The reason why boards would allow someone to hold multiple CEO roles is bc that person's judgement on strategy isn't easily replaced.
Visionary strategy is orders of magnitude harder to hire for than execution, which can be done by execs.
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Upside: solo founders can often move faster & have lower risk of political distraction.
Downside: solo founders bear more psychological burden & have a harder time raising capital.
If you have the emotional makeup and can raise the funds, going solo has a lot of advantages.
1/ A lot of early founders think a co-founder is required to start a company. There's a lot of advice out there, even from high-quality, well-intentioned sources, which strongly suggests this. I believe this advice can be a disservice to strong founders.
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Looking forward to speaking on this topic tomorrow. As investors have gotten smarter the bar has gotten way higher — and that’s a very good thing for everyone.
Excited to have
@Kjer
, CEO & Co-founder of
@publicmrkt
, at the
#CFConUSA
. Looking forward to have her on stage for the panel: "Dos and don'ts when investing in
#blockchain
projects and ICOs - Are there rules to follow?"
#CFCon
🇺🇸
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Oh don’t mind me just another Sunday thinking about systemic banking collapse and how our country went from the treasury policy thoughtfulness of Hamilton to the divisive sadistic stupidity of today.
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6. Elon Musk is one of the greatest technologists of our time AND is human and fallible and capable of making mistakes and failing
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2/ There is no denying network effects businesses have huge competitive moats. At the same time, they have an “Extraction Imperative” to get more monetizable data or direct revenue from customers than those customers would accept, if there were realistic alternatives.
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More evidence that a very small set of very big businesses have become more powerful than government.
Bezos owning the Washington Post is the cheapest subtle political insurance that Amazon can buy. $250 Million insures $700 Billion against anti-trust action.
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New rule. If you put me on a drip that doesn’t have an unsubscribe button, or if your unsubscribe process takes more than one click, you get reported as spam. No exceptions.
So tired of responding “unsubscribe” 10-20x per day.
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Had fun on this powerhouse panel in NYC last week. This is a good thread summarizing some of the key takewaways.
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Unlimited renewable power & fresh water from clouds? Yet another invention Tesla called for a century ago. Help 'em!
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Anyone who holds a short position on a bank and starts trying to incite panic and FUD in a public forum should be put in jail FOR LIFE.
Fractional reserve banking is inherently a psychological phenomenon.
🔪 ALL BANKS ARE DEAD IF YOU SUCCEED IN KILLING THEM 🔪
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In order for decentralized applications to go mainstream, they need to provide more value for consumers than their centralized counterparts. Here's my thoughts on why marketplace eCommerce will be the breakout consumer use case:
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2. Twitter needs to make big bold moves to solve profitability AND making statements and changes that spook advertisers is shortsighted
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Looking forward to speaking with these fantastic co-panelists. If you'll be in NYC on Nov 29th, join us.
Crypto NYC is teaming up with
@techstars
and Common Interest in organizing a stellar event on Nov 29th called "Blockchains and the Future of Organizations"
@jbrukh
@katherineykwu
@Kjer
@orgoodenough
@yossihasson
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"When it comes to race, most white people are innocent. And yet their innocence is what constitutes their crime." -
@VanJones68
#socap13
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American exceptionalism was built on support for & belief in the American Dream. The little guys taking risk to build something greater than themselves.
It’s a heartbreaking day when you realize many no longer celebrate our entrepreneurs, they actively root for them to fail.
💔
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Yet another reason why acquisition prospects and multiples will continue to come down over the next year.
Why are acquihires difficult to do even for large buyers. Let me explain how it works.
Let's say you have a startup and you have raised $3-4M in seed capital. You have a few hundred thousand in ARR, but clearly not enough to raise more capital and keep going. Time to sell. 1/
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So friggin important and SO few people understand.
Tokens & shareholders are in *direct competition* for value accrual when existing in the same org.
The flipside is that token structures make entirely new, non-FCF maximizing business models possible.
That’s revolutionary.
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“the timing of impact of apps vs infrastructure do appear to macro-level *investors* as coming in cycles. But to builders, they always come together.” —> important refinement of the USV app/infrastructure thesis
1/ I find it intriguing that people are now starting to tell a narrative that (1) usability and design, and (2) building end user applications in crypto matter.
The truth is, they always did.
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3. Free speech is a beautiful and fundamental value AND it’s notoriously hard to single-value protect in a social network without the willingness to tolerate massive other consequences
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Care to join us on our mission? Visit us at and sign up to follow our progress.
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5/ Risk Factor
#1
: Business Model. Network effects businesses in which the user pays for the service directly through their dollars are more disruptable than advertising-based businesses in which the users pays for the service indirectly through their data.
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So happy to announce that UpCounsel's crowdfunding campaign is now public! Can't believe we've already raised $1.47M and only have $29k left in Early Bird terms.
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@JessBHeron
@SMB_Attorney
@MSUKyleBrown
@BizBuySell
You guys were right this was a great deal! We already picked it up for UpCounsel though ;)
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9/ Risk Factor
#5
: Possibility of Multiple Winners. Networks where users already participate in multiple versions of that network (where multiple winners are possible) are more disruptable than networks where, on average, people only participate in one (winner-take-all).
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Love this story of how
@rubenharris
strategized his way into tech. Welcome, old friend :-)
http://t.co/FoMjVXI57i
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A random person with my same first name just sent me a $30.20 Amazon gift card.
I asked if it was a mistake and she said it was, but that in the spirit of the holidays I should keep it. Now I’d like to pay it forward — anyone know someone who could use $30.20 on Amazon today?
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"The most effective founders I meet can explain not only their business but THE WORLD to me"
@brendanbaker
#svco
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3/ Each network effect business faces risk factors that could drive users towards disruptive decentralized services that don’t have a mandate to extract economic rents from them.
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"You cannot have a system which privatizes profits and socializes losses." (so what it a Republican said it)
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Umm duh. If
@mariaspringer
and
@chidegar
make a Tshirt, I buy said Tshirt. As should you. See UNIFORM:
http://t.co/EOWuOBnLti
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14/ More important than the “results,” however is the idea that the Disruptability Index is about inviting people to a more structured and complex way of thinking about decentralization that lifts it out of binary arguments and into the gray areas of probabilistic outcomes.
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Having nothing to lose can be the best thing for your career.
1/ It’s interesting to look at career strategy applied through the lens of risk.
Most people think about financial risk, but reputational risk is far more insidious inhibitor of people pursuing ideas that at first seem weird but then become widely held.
Exhibit A: Crypto.
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Very important read.
This is How Your Fear and Outrage Are Being Sold for Profit
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"The Ironies of Peace": A spectacular article on Obama & Nonviolence by my favorite peace thinker, Michael Nagler
http://bit.ly/5P1uut
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RT
@hamiltonguevara
: RT
@UNIFEM
: Women must play full part in peace-building, Security Council declares today
http://bit.ly/POTSE
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Thank you! RT
@RobynScott
: Fantastic frank post on non-profit myth and its consequences by
@Kjer
http://t.co/prFUbZxG6R
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Needed: professional service providers (freelancers! tradesmen!) to do user interviews for my new company. PM me if you can give 20 mins!
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Sending out eNewsletter at 4pm PST on a Friday = asking for worst open rate ever. Right? We'll see on Monday...
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"It's very hard for you to understand, I know. That's because you're a person, and I'm a consultant."
#overheardinMBA
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Terrifying what we’re doing to our bodies.
Fertility is disappearing
According to Dr. Shanna Swan, humans now meet the criteria for an endangered species.
1 in 4 couples cannot conceive naturally and that number is skyrocketing. Sperm counts are down 60%
Here's what is happening:
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Really dig these untraditional 8 New Ways
@penelopetrunk
is thinking about financial security in a changing economy:
http://t.co/81t38ujR
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13/ When all these factors are taken together, Amazon appears to be the most vulnerable platform. This makes intuitive sense - as big as the company is, people still shop in many places. What's more, when Amazon exerts monopoly power, it's in the form of higher effective prices.
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3/ Second, when we parrot long timeline predictions for consumerization, we forget that as hyped as crypto feels, basically no money has been spent on real consumer advertising/acquisition. Only 7% of Consensus were marketers according to a poll from
@cburniske
.
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Ella Baker Center: the org that made the connection btwn the polarbears slipping into the Arctic & young ppl of color languishing in prisons
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Tiny houses: a solution to homelessness?
#PDX
thinks so.
http://t.co/3iKRhXREra
Affordable, scalable, green...what's not to like?
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4/ In my latest piece, I name 8 discrete factors that put centralized networks more or less at risk of disruption by a decentralized alternative, then apply them to 4 leading networks: Facebook, Twitter, Apple’s app ecosystem, & Amazon’s marketplace business. Here’s a summary:
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Product Hunt live chat in 1 hr. I jumped on the entrprnshp rollercoaster @ 20, & haven't quit yet (oh I tried). AMA!
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Anyone who believes in self-development and wants to win in life is an idiot if they don’t study
@taylorswift13
. I contend that more than any man or woman in history, our girl has pulled off the greatest demonstration of the Hero’s Journey that the world has ever witnessed.
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If you want to see the heroic,
look at those who can love
in return for hatred.
If you want to see the brave,
look for those who can forgive
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