As you read about Figma getting sold for twenty billion US dollars (with potential upside) today, take a moment to remember that you didn’t do this and you are a total and complete failure.
2012:
- start company
- CEO eats ramen
- Make $400k in revenue
- raise $2M seed round
2021:
- raise $5M pre-seed
- CEO tweets memes and VC jokes 8 hours a day
- look for head of product to do CEO’s job
- wait for seed term sheet at $100M post
Tech CEO vibe check:
COOK: “not my first rodeo, congressman”
BEZOS: first meeting w/ gf’s parents — charming and funny (but not enough to be suspicious)
ZUCK: pugnacious mock UN underdog
PICHAI: visa interview at US consulate
I propose a reverse Emily In Paris. A joyous fashion forward, Sartre-reading, self aware Parisienne lands up in Palo Alto VC firm. Cultural confusion! Sequined patagonias! Schadenfreude!
We need a Bechdel test for conferences. The conference passes if 2+ women are asked to be on a panel to talk about *anything* other than being a woman.
Urging Indians to not ignore the two major health risks handed down by your parents:
1. genetic predisposition to diabetes and heart disease.
2. family WhatsApp groups that accelerate said cardiovascular threat with unchecked BJP IT cell propaganda
I’m going to try to make this a thing:
If you are a woman and you have a tweet/post/piece of professional news highlighting your work, or your gen awesomeness, DM it to me and I will amplify you, esp if we don’t know each other. Let’s normalize this shit.
Proud and humbled to witness the $DASH IPO. All the credit goes to the team of course but I’m happy to have played a small part in their success by contributing a significant portion of my net worth to their revenues.
I couldn’t sleep after watching the Amy Cooper video last night. I found Christian Cooper's calmness remarkable, and was so glad he had the instinct to record. It brought back memories of one of the craziest things that has ever happened to me. [THREAD]
To the uncle who landed in Delhi at 12 AM after a 16 hour flight and immediately headed to Duty Free to buy a bottle of Glenlivet for the evening, I want to grow up to be you, sir.
Each new year in venture, each new analyst you hire is going to send you Naval podcasts and PG essays as if they were freshly unearthed only yesterday. then you die.
Three years ago today, Gauri Lankesh was gunned down outside her house in Bangalore. This is what a fascist state looks like. Don’t buy into any alternate narrative about India without acknowledging what happens when a democracy doesn’t protect the Fourth Estate.
A little annoyed by a lot of foreign reporting noting that the CAA-NRC protests are led by the political opposition; people on the ground can correct me, but the protests are nearly all independent student-led. The main opposition party has been mostly MIA.
Talked to a friend and concluded that — in these times— it’d be easier to raise $10M for a pre-product SaaS company than an entire $10M early stage fund.
Silicon Valley on shelter in place:
GOVERNMENT OVERREACH!!! THE STATE CAN’T TELL US WHAT TO DO!!!
SV on cops murdering minorities:
“8 thoughts on growing net revenue retention.”
The issue with startup culture glorifying "hustle" unquestioningly is we're bound to have characters who spend so much time and energy on the hustle, solving real problems is saved for later.
These hot takes are terrible. A majority of startups are small businesses that cumulatively employ tens of thousands of people. These cos banked with SVB. Only a minority of startup employees are wealthy or highly paid. Many are at risk of not getting paychecks next week.
I'm joining
@GradientVC
!
I'm really thrilled to start this new chapter of my career with a team of incredibly sharp technologists who have spent most of the last decade investing in the future of AI.
@JuddLegum
Yea but if that takes months, most of these businesses die. Regardless, your original framing of SVB as a bank of VCs is problematic and incorrect.
@JuddLegum
a small biz of 10 people with $1M in the bank and loses 75% of their assets overnight, thats 10 people out of jobs in 3 months. That is an above average startup. How is bailing out a regulated bank socializing risk when student loan forgiveness is not?
@JuddLegum
what about tens of thousands of startup small businesses that employ hundreds of thousands of people? SVB isn't merely a bank for venture capitalists.
Some personal news: I’m taking book leave to write my novel — The Great Gatsby reimagined as a present day story of heartbreak; a seed VC longing for the one that got away. Out in 2022 w/ WW Norton.
The most interesting thing to me is in 2022 we’re seeing so many of the same bad ideas I heard in meetings 4 times a day in 2017, but now with the sheen of “web3” and they raise millions?
What I did so I can write:
- spent life's savings
- quit comfy job
- gotten into SERIOUS debt
- moved countries
- lived in relative poverty
- braved harassment @ min wage job
- ruined relationships
What I do when I have to write:
- weep
- bitch
- whine
- procrastinate
So apparently the second couple I (somewhat) introduced have now wedded.
@netflix
I’m available for Indian Matchmaking Season 2. Have your people call my people.
@APompliano
@VitalikButerin
You’re comparing a public company to a privately owned company. How does that even make sense, for someone who believes in decentralized ownership? Genuinely asking.
6 SaaS VCs
6 SaaS CEOs
on a remote island
They can look, they can meet, but they can't...invest
Will the vests & hoodies learn to build a relationship before trading equity?
Netflix's Too Hot To Handle Season 2
@TurnerNovak
four course meal? What are these minimalist indian weddings you're getting invited to? South Indians pride ourselves on serving 21 course meals at funerals.
Everybody is feeling a sense of loss about their communities. I moved back to NYC ~1 year ago after 5 years on the west coast and have been slooooowly rebuilding my social circle from scratch in my old age (30s). Some suggestions, if helpful [thread]
I’ve found it really challenging to build back up my social circle after the pandemic. Any one else have the same issue? If so, how did you build it back up?
I'm coming up on five years in the tech industry and this is still a struggle. I've learnt to aggressively advocate on others' behalf and shrivel when I've to do it for myself. Someone fix me.
“Fundraising is like dating”
“Hiring is like dating”
“Sales is like dating”
“Sourcing is like dating”
“Investing is like dating”
“M&A is like dating”
- people who have been married many decades
San Francisco: where you see your closest friends once in 2 months.
New York: where your former colleague’s girlfriend’s cousin whom you met once for 5 mins 7 years ago wants to hang the moment they land in jfk.
Got off the phone with a founder in the personal finance space. A professional VC told him he couldn't understand the product because s/he's "never had to take a loan". 🤯
When I feel wronged, I aim to be redeemed like Accel.
2004: Harvard endowment drops out of Accel Fund IX cos they missed Google
2005: Accel invests in Harvard dropout-led Facebook
2020: Facebook controls the free world