Ian Kar
@iankar_
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Farmer & Vinyl Collector. Writer @qz , PM @acorns , Founder @fintechtoday_ & Angel Investor in a bunch (mainly fintech and crypto.)
Joined September 2009
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The reason this is going viral isn't actually that hard to figure out—because of COVID, young people now have a deeply skewed view of post-grad life.
She talks about her friends that work remotely and don't have to commute, and walking to work (if you walk to work in NYC you're…
Oh princess… 😢 I’m sorry you had to commute and work and have a job and everything — it’s like so extra!
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Really sad to hear that Mahbod Moghadam, founder of Rap Genius, passed away at 41.
He built a product that I love using and have used weekly for 10 years. Met him a few times and he was always really nice to me.
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didn't used to believe in this kinda of stuff (thought there were ambitious people all over and they eventually find themselves) but after living in LA for 3 years...nope this is 100% true
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When my mom had cancer in 3rd grade, I prayed 3x a day. And she survived and is still here today. And now that cancer’s back in my life w someone else close to me, I feel like it’s nice to be able to turn to prayer again.
(That being said, it’s important to pray and be…
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The tech industry's weird obsession with Rick Rubin is kinda pathetic. Just shows me that no one can have an original thought in this industry.
His philosophy just seems to be the white person version of Buddhism, which...is fine...but just read about Buddhism
Also I doubt…
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If you're an NYC-based founder, its hard to find a better program than the Grand Central Tech Residency, by
@Company
:
-get 1 year rent for free in one of the nicest office spaces I've been to in NYC
-get to know 25 other NYC based, pre-Series A founders
-
@mattharrigan
's a great…
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We shouldn't increase the pool of accredited investors—the fact is the average American won't be able to invest in the Sequoia & Andreessens—they'll be stuck backing shitty fund managers that shouldn't raise a fund in the first place.
And getting more average Americans into…
10.6% of all American households were accredited investors in 2020, which means almost 90% of Americans can't invest in Venture Capital. Who else thinks this is a problem worth addressing?
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you can want a free palestine, you can want a two state solution...you shouldn't want terrorism in any capacity, anywhere. full stop.
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because its twitter and not the New England Journal of Medicine
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Yup. When I stopped doing Fintech Today a lot of fake friends who were using me for clout fell off the map. Tbh was by design—felt like I surrounded myself w a lot of social climbery people and the only way to get out was cut things at the source
I have seen folks in tech notice that when they are no longer connected to a specific brand, people do not engage with at the same frequency or in the same way
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If your name is Sam and you're in tech, I would just change your name
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1. Too many companies spend aggressively on marketing prior to product market fit, which gives false positives on whether they have PMF. And this is why there are so many startups stuck after 1-2 rounds of raising
What’s your marketing opinion that’ll have you like this?
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Rippling's Series A Investment Memo is still the best founder memo I've read. Anyone have any others?
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Stevie is the strongest (and most amazing) person I know. And I know she’ll beat this diagnosis.
Important reminder to go to the doctor! Cancer affects all of us (my mother had it when I was a kid) and its best to be proactive and go to the doctors if you’re feeling off
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If a VC says “we’re down just get a lead first,” they don’t have the gumption or conviction and you should shut ‘em out and move on. Lots of other capital out there, esp if you get a lead (like they’re asking)
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oh i didn't realize this...COO running design is...usually not a great sign?
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Publishing this on Twitter to hold myself accountable: this is part of a new project I'm doing in 2024—a Weekly Accountability Journal, so that I can hold myself more accountable about my goals. I'll be publishing one every Sunday.
Weekly Accountability Journal
#1
: 2023…
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This is incredibly messed up on a lot of levels. Playing both sides won’t end well here (facilitating secondary transactions behind the founders back seems very…unfounder friendly)
This might be the end of
@cartainc
as the trusted platform for startups.
As a founder it feels kind shitty that Carta, who I trust to manage our cap table, is now doing cold outreach to our angel investors about selling Linear shares to their buyers.
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Not a fail from Apple at all—probably one of the savviest corporate partnerships move of all time.
Goldman's been on the hook financially and reputationally, and its been a disaster with them. Meanwhile consumers think Apple put together the best credit card on the market from…
BREAKING: Apple is shutting down its credit card partnership with Goldman Sachs.
According to WSJ, the contract will be terminated within the next 12 to 15 months.
The exit will cover their ENTIRE consumer partnership which began in 2019.
This includes shutting down the…
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Yikes. As I said in my original quote tweet, this is really not a good look.
1. I don’t get how Carta and Carta Marketplace are different businesses. Like separate LLC? Or just a subsidiary? If they’re separate how can Carta Marketplace employees access Carta data?
2. The…
Getting back to this now. Was making dinner (American beef stew by Kenji btw)
Henry if you insist I’m happy to share details or my version of the call. This is why I hate doing these calls because everything becomes I said/you said.
First of all, I posted this publicly because…
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Stripe just crossed $16 billion in transaction volume between Black Friday and Cyber Monday (source: ).
Stripe's a private company so thought it'd be fun to try and figure out how much revenue it generated over the 4 days: rough estimate is $500m+ (2.9%…
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Wasn't at money 2020 but IMO the
@teller
announcements (no code moving off Plaid, easily embed Zelle into apps) were really impressive to me:
1. If you've built fintech products you have also probably complained about Plaid breaking, and the cost. But switching costs for fintech…
A
@money2020
recap will be coming on Friday, but in the meantime here are a few fintech things that have happened recently:
1.) The CFPB released its proposed rules for 1033! I'll have a lot more analysis on this coming in the days and weeks ahead, but the overall takeaway is…
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Super excited and couldn't be more proud of
@steviemctweets
to be the new CEO of Aping. We've talked about financial services for women and unlocking financial access via crypto for as long as I've known her. LFG!
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Lotta ppl on Twitter talk about how "easy" it is to start a neobank now because "the cost is so much cheaper." It is, compared to 6/7 years ago (when I worked on the Acorns debit card). But the fact is that its still really expensive for the average startup to create consumer…
Why are fintech banking as a service providers so expensive?
Just got a quote from that started at $250K / year with every single thing (accounts, wires, ACH's etc) being an extra fee
Which early stage startup can in good faith afford to pay for this?
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finding a ride or die cofounder like Brockman is much rarer than people think (could have easily positioned himself to take over)
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City I dislike: NYC
City I think is overrated: NYC
City I like: Miami & LA
City I love: London
City I feel most myself in: SF
City I still need to visit: Paris, Dubai
City I dream of living in: London
City I dislike: London
City I think is overrated: Copenhagen
City I like: NYC
City I love: DC
City I feel most myself in: Dubai
City I still need to visit: Damascus (yes, Syria)
City I dream of living in: Istanbul
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Life now that I'm old (32...which is old):
-i now structure my days around my dog (she needs a midafternoon walk/park time)
-i really want a backyard
-i use text to speech all the time
-i miss suburbs
-i hate loud noises unless they're coming from my record player
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Sad to be missing Miami Tech Week for the first time (but chemo is more important lol)
Have fun and lmk if you need recs!
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Fintech ppl always say that you should make a Spotify Wrapped for financial data but its not worth it IMO...no one wants to know all the details of their aggregated spending (I do not want to know how much we spent at Gucci this year, for example.)
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also the people that seem to like him also seem like the most deeply unartistic people
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This whole Jesus story is kinda crazy when you think about it: this guy just starts going around saying he’s the son of god and starts performing miracles, gets a ton of followers, and then his homie betrays him for like 4 months salary, and he dies. Then he comes back. Then he…
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WHY YOU SHOULD NOT JOIN Y COMBINATOR
YC seems like a reasonable proposition. They give you some money to help you start your business, and they promise you access to a community of people that can help you along the way. In exchange, they only ask for a small amount of equity.…
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I’ve been begging my partner to let me buy a chain, now I can since zuck did
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Things I've learned in the last 32 years:
1. eating and sleeping well is key to being productive
2. turns out life's a lot easier if you're mentally & physically healthy
3. life's also easier if you're very prepared
4. shaving your beard every day is really really annoying
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really great thread. 100% agree with point 4: buying ads and pointing them to your website is probably the worst way to get your first 100 customers.
the era of inefficient growth through paid ads is over...this is a great list of some tactics to explore when you're getting…
Sam Altman on How to Get Your First 100 Users
In the clip below, Sam Altman walks through four common strategies to get your fist 100 users in order of best to worst:
1. Use your network. Email everyone you know and call in favors from anyone you can think of. But if it’s a…
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@sama
Some stuff I’ve love w ChatGPT:
-let me archive more chats
-auto recommend people turn an existing prompt into a custom GPT (“you have other similar prompts, do you want to make this a custom GPT?”)
-know GPT store is coming next year but custom GPT discoverability is really…
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tbh sam altman's swag just makes him cooler (his mclaren f1 is insane)
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1 new thing I'm doing this year: sending longer emails instead of scheduling 15-30mins meetings
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here's what always confused me: if you make money on stolen property or illegal activities, and report it to the IRS, you're pretty much setting yourself up to get taken down by the cops right? does anyone actually report this income?
Shoplifting is so common across America now.
Of course the IRS has to give guidance so that people know how to report their takings.
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Whoever's telling founders to send decks in google drive...pls stop. Not the biggest Docsend but as a founder you should want to know who's looking at your deal (its shitty but manyyyyy/most VC's send decks around without asking founders for permission.)
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A well tuned ChatGPT is better than an average therapist, according to a licensed psychologist. Super interesting read.
@danshipper
's ChatGPT tutorials on
@every
are really really worth your time (if you're into this kinda stuff like me)
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wild—someone asked to interview me for a YouTube channel but...they blocked me on twitter...lol
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This is *such* a good idea
Reddit makes a bunch of money selling your work to foundation model companies.
Which is cool. But, like, it’s your work.
Share your Reddit data, get ownership in a pool of Reddit data, own the fruits of your posting labor.
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In a world that requires financial discipline, you can’t keep funding money losing businesses. Even more true for incumbents that a) report to public investors who are v fickle b) need to be ruthless in what they devote resources to.
The fact is personal financial management is…
Intuit is winding down personal-finance app Mint, and pushing users to shift to Credit Karma, a similar service that the company acquired in 2020
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"If you have a problem with me, call me. If you don't have my number, then that means you don't know me well enough to have a problem." - Christian Bale
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Happy Thanksgiving! Hard year (well a hard 2 years), but thankful for my family 🙂
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Feel like Dogpatch is gonna be a dope place to live in 2-5 years w YC there now
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Going to watch Coach Deion pregame speeches as a part of my AM routine
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The OpenAI board has wayy too much power & not a lot of concern for repercussions-legal or otherwise-if they’re seriously interviewing other CEO candidates. If I were an investor/microsoft, I’d get a suit ready
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Have now heard of roughly 5 companies laying people off to buy up more GPU's...
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People ask me a lot “oh you don’t tweet as much what happened?” I try to be nice but sometimes just wanna say bro I have a life now and don’t sit in front of my computer 24/7, that’s what happened
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because everyone under 35 is renting...
BREAKING: The share of Americans who are mortgage-free is at an all-time high, per Bloomberg.
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So good I can’t gatekeep this: Rishtedar in Wynwood is probably one of the best Indian restaurants we’ve been to in a minute. Incredible foods and great vibes. Highly highly recommend
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The
@apingcoin
telegram is popping off—have been a part of a bunch of communities and started a few successful ones. This might be the most engaged community I've seen.
Highly recommend if you're into fintech, crypto, and streaming content (hit me up if you want an invite)
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crazy to me that people think you should just offer up advice and expertise for free. people used to write book, now instead they create a course and sell it online. kinda simple
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I changed my phone number and am using my icloud email for imessages and things are so peaceful. no group chats, no random texts. highly recommend
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there's a time in everyone's life when you realize—the entire world is designed to help the rich stay rich
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this is crazy—turns out the production for Miss Jackson by Outkast was made by playing some elements, like the drums and bass, in reverse
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Twitter's paid subscription growth must be going pretty well if Elon's telling advertisers to gfy...and before they launch their ChatGPT clone (Grok, which is available for paid subs).
Feel like we really discount how big Grok could be—it's quite literally the only AI that…
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Grok is useful for understanding Twitter terms that you're too embarrassed to ask your Gen Z friend
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Super excited for
@seriesfinancial
and the homies
@brextonpham
@jslishi
& team.
Solving ERP is a big problem and Series has a ton of stuff under the hood, in addition to banking: payroll, identity & document management, AP & more
Check it out
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Clicked on this video incredulously but this is actually a great solution. As someone who's built financial literacy for young Americans at
@acorns
, totally agree that it's hard for someone to wrap their head these complex concepts without skin in the game. It just makes it more…
Seeding every child born w $1000 in the S&P 500 & leveraging the private markets w a 401k match will reinvigorate the belief in 🇺🇸 capitalism, accelerate financial literacy, unlock the full potential of our kids, & tackle the wealth gap. Big news coming in 2024!
@JTLonsdale
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How many dudes do you think are on dates right now talking about ChatGPT
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Who are your favorite angel investors focusing on Embedded Fintech/Vertical Saas?
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feel badly for the immigrant OpenAI employees that have to deal with visa issues if they want to leave...hope they get stuff figured out
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i'm addicted to some random pop song remix i found on soundcloud but its so embarrassing i can't publicly say which one
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ok now i get why hollywood was freaking out about AI...the fact that you can cobble together a trailer this good is insane (could easily pass as a real movie trailer)
Made a movie using Midjourney V6 +
@runwayml
and Live Action. The time is now for AI to push our creative at any level. Here is the teaser for a short and feature screenplay that I wrote.
#ai
#AIArtCommuity
#aifilm
#aiartwork
#filmmaking
#runwayml
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Interesting from Instacart's S-1: for every $110 AOV transaction made, Instacart makes $7 in gross profit
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Amazing and eloquent post by
@heysamir_
on Cash App Pay, Block, and the economics of a closed loop system, building off the great work
@jevgenijs
is doing on the fintech public markets
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@TrungTPhan
he was also good on the suns and helped them get to the western conference finals??? they only traded him for bradley beal lol...what a weird analogy
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At my parents house and I just found Mango Juul Pods. Selling them for $100 a pod. DM to inquire
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Anyone wanna talk about it Dune 2 my wife is sick of me talking about it
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