Flying on commercial airlines in 2019 is a horror show. Sure, they’re not killing us as much as they did 50 years ago, but I’m not entirely convinced that’s a good thing anymore.
We’ve made it — the last installment of our primer on startup investing for the non-startup-investor. We’ve covered the [b]asic plumbing, and we’ve covered [c]onstrained focus.
Happy April 1st, friends and colleagues. I’m not nearly witty enough to write you a suitably roguish April Fools’ blog, so let’s dive into part deux of our ABCs of Startup investing — the [B]asics.
There is a pervasive mythology that startup investing is particularly difficult, and that the people who do it are particularly special. Vaunted names are spoken in hushed tones … Sacca, Doerr, Andreesen.
The sun is hiding at 4:30 PM here in New York. Incessant wintry tunes ring from loudspeakers and car radios alike. Promotional direct-mail spam is arriving in sparkly red and green envelopes. This can mean only one thing- the Holidays are coming.
I thought it would be appropriate for our Thanksgiving Letter to talk about exactly how fortunate we all are. That luck, the abundance of everything in our lives, isn’t just a nice status quo. It’s also a weapon.
Happy Halloween. True fear is something many of us have the luxury of not feeling on a regular basis. In the world of public market investing, some fear can accompany an unjustified selloff or the news of an activist in the boardroom.
The entrepreneur’s hero journey sounds like this. Quit big-time job (substitute “drop out of Stanford” if you prefer). Raise 50k from friends, family, and fools. Build a prototype. Mega launch party. Raise VC money. Hockey stick growth. Exit stage right, and probably go to India for a while.
Have you ever wondered why the best venture capitalists keep winning outsized returns? Why the best agents keep discovering new talent? Why the best universities keep minting Nobel Laureates and CEOs?
Why do you care about Nash Equilibrium? I contend that no matter what you do for a living or who you live with, learning how to design systems that account for human incentives will improve your work and your personal relationships.