@erikbryn
The US has more elastic labor laws than a lot of places, people can overhire faster but also fire faster. Same kind of efficiency in commodities markets. Everything responds more quickly to emerging market realities
Noticing a lot more OOO from the VC industry this summer. Highly advise founders to hold off initiating their fundraise processes until after Burning Man (early Sep), if possible.
Sadly, I’m totally serious.
@deedydas
@swakrikar
He’s got a line in the song about “pouring his ashes in the river, cuz the flow bout to carry on” - must be about reincarnating as Freddie 😆
@nickgraynews
Society doesn’t work as a centralized planned top down entity like China or Russia where you can push folks through programs at a young age.
Society too poor to prioritize sports from the bottom up so far.
This would be difficult to watch. I decided to try and get an EB-1 right after I did some math on how long it would take via other paths as soon as I got my degrees. I told myself that if I didn’t get the green card that way, I’d just move to another country/back to India instead
📺 EP 76: skilled immigration in the US - H1bs, green cards, lotteries and caps and more w/
@deedydas
There are few issues
@aarthir
and I care more about than skilled immigration, certainly few that has impacted us more personally. We have always wanted to do an episode on this
Kind of crazy and impressive that India will move to T+1 settlement before the US will. The benefits to all stakeholders are immense in the financial markets .
We're thrilled to share that, after spending the last year as a Visiting Partner with us,
@Arpan_Shah_
has officially joined Pear as a Partner. Read more about Arpan on our blog today!
The X1 card acquisition for ~95m after raising ~62m shows that CAC in consumer Fintech is the toughest problem. High ARPU products like credit cards are especially difficult in terms of customer acquisition.
This is something all Fintech investors should be thinking about.
My
I couldn’t agree more! I personally went through an EB1 retrogression in the past. It is immensely demoralizing to know you qualify for a high bar that most countries would fast track but instead you have to wait for an indeterminate amount of time based on the country of birth
@mohakmangal
In the Indian context, the philosophy and religion are intertwined, so a lot of Jain, Buddhist and Hindu texts contain the seeds of Indian philosophy. I’d start with reading the Mahabharata if you haven’t yet, tons of philosophical ideas that still persist today beyond the story
Pear Studio Speaker Series!
Thrilled to launch our speaker series with the world's top tech CEOs and visionaries! 🚀 Exclusive insights and close connections await Pear Studio members!
@pearvc
@t_xu
@vladtenev
@dkhos
@vkhosla
@pedroh96
Adam Foroughi
Increasingly, while it may be difficult to find folks who share your worldview on politics, economics, society around you locally, it is likely that there is a large group with the same perspective globally.
@balajis
proposed network states amplifies otherwise hidden voices.
@JTLonsdale
@WSJ
@JTLonsdale
thanks for speaking about this. My father almost couldn't attend my wedding because of this. Many relatives actually couldn't. There are many families waiting to travel that I personally have heard about
@nabeelqu
Microsoft probably has one of the best investment + acquisition strategy of all tech in the last 7 years (since satya took over) - Minecraft, LinkedIn, GitHub and OpenAI were all non-obvious when the investments were made
One of the biggest things I learned through mistakes made at Robinhood was What is engineering in service off at the earliest stages. It is in service of the customers, not technology or quality in and off itself, but only if those things help move the needle for customers.
Same experience here! The Bilt for X ideas or innovative credit cards in general struggle because it’s hard to get CAC down without something that’s too good to resist, but if you offer something too good to resist the unit economics on the card itself don’t work.
Wild how many companies I've seen trying to be the "Bilt for X" (I've seen 4 "Bilt for mortgage" companies alone) and every time I dig in to the unit economics there is some hand-wavy answer about how Bilt made it work...
Good luck!
Folks who have been laid off or are looking to find roles in tech but unsure what’s available, please reach out! Tons of companies in the
@pearvc
network and other startups I know are still hiring! Many hiring folks on visas too
I agree with this take. More importantly, in my personal opinion, on reciprocity alone the US should not allow any Chinese social media company to operate in the US given how China has treated social media companies from here
Future historians will show us allowing this—Tik Toxic—in US was historic mistake.
It amplifies anything that divides us and hurts western interests…but I repeat myself
It was amazing to talk to all the
@StanfordGSB
students to share our theses and views within the Fintech market today. Amazing questions and some really cool ideas too!
Why I am bullish on Fintech and the room for innovation in finance even though Fintech has had a rough year and a half:
I tried to turn on options in one of my legacy brokerage accounts. Communicated Time to Resolve (TTR): 3-4 days. 14 days later and after 5 phone calls and 2
@Jason
My understanding is that not many branches of some banks are open on the weekends. This means that while the crowds are larger than usual probably not too concerning on its own
We're excited to see
@pejmannozad
and
@MarHershenson
on the 2024
@Forbes
Midas List!
The list recognizes the 100 investors with top returns, but the thing we're always the most proud of is the amazing partnership between our team and our founders. 🍐
When you get a chance to work with
@pejmannozad
it isn’t too surprising to see
@pearvc
and him top the Midas seed list! The hunger to constantly set bigger targets and do the best for founders has been a hallmark of his whole career :)
Someone could easily do with these mangoes what that one person did with restaurant reservations in NYC and make a killing. Indians in the US have the purchasing power and the same obsession with these mangoes.
It’s that time of year!
Alphonso mangoes are in season.
Customs restrictions, transport costs, & short shelf life make them tough to get in the US.
Call your Indian store to see if they can get you some. They sell out within hours of arriving from the plane, are worth it!
Congratulations
@willbokuishen
and the
@apparatelabs
team on this launch! Building real time video generation, and making it accessible via easy APIs unlocks a whole set of use cases that are transformative! I and
@pearvc
are excited to be along for this journey 🚀
Introducing Proteus 0.1, REAL-TIME video generation that brings life to your AI.
Proteus can laugh, rap, sing, blink, smile, talk, and more. From a single image!
Come meet Proteus on Twitch in real-time. ↓
Sign up for API waitlist:
1/11
If iRobot $IRBT or Spirit $SAVE go bankrupt because of their failed mergers (a deal that two willing parties couldn’t conclude simply because of regulatory approvals), then the winners are not consumers who get more competition - there is no competition from a dead company. The
People in India should really not miss this news and this is an example of why I think banning TikTok in 2020 was the right move by the Indian govt at the time
@sriramk
This is very true! Also the reason why reference checks from someone from a long time ago in someone’s career is useful only for information on character and rarely on skills and capabilities
We’re quite excited about Fintech at
@pearvc
. The market opportunities are still very large and preferences across lending, saving, spending and investing continue to evolve
Netravalkar getting bought by an IPL team and returning to India next year to play cricket full-time will be the most incredible story arc.
Either that or he will at least get an EB1A out of this performance and finally have a green card
When Flannel joined forces with
@Plaid
one of the key reasons
@hongxia_zhong
and I chose them was the synergistic value faster payments and RTP could provide to Plaid’s ecosystem.
It is exciting to see that early vision we had come to fruition:
Not a lot of feel good stories coming out of Afghanistan but the story of their cricket team and their progress to the cricket World Cup semi-finals is such an incredible underdog success story!
Icing on top is India not having to face Australia in the finals as a result
It’s heartwarming to see how much space can inspire an interest in science and innovation!
Woke up at 5am to see the Chandrayaan 3 moon landing and was amazed to see millions of viewers on every YouTube stream
🇮🇳🌕
Having interviewed hundreds of engineers, the most underrated trait is strong ownership: most engineers see their job as building something but not being responsible for the impact it has.
The best engineers aren’t just shipping but constantly paranoid about outcomes.
People convinced that they have the right solution on a conflict should have some skepticism and humility given the track record of countries in history where group think has lead to tragic escalations. This is why I appreciate
@DavidSacks
,
@elonmusk
,
@naval
and others
We’re excited to announce that
@arpanshah29
has joined Pear as our newest FinTech Visiting Partner!
Arpan is excited to share his operating experiences from building Flannel (acquired by
@Plaid
) + leading engineering
@RobinhoodApp
Congratulations
@imkevinxu
and the team on the raise! The financial community they’re building for traders is based on actual positions people have taken so you know whether people have actual skin in the game
We've raised $4.5M to build
@AfterHour_HQ
, the ultimate financial community app for the internet generation.
With our raise, we're doubling down on community features that give everyday traders the chance to find alpha faster.
A big thank you to our lead investors for believing
Anyone who has tried to innovate in finance will tell you how important licenses and your relationship with regulators are! is bringing financial licensure to the next era where it is no longer opaque, complex and expensive! I am so excited to partner with
Immigration News for Entrepreneurs!
Founders with 50%+ equity CAN file for an H-1B for themselves. Most usually opt for the higher effort O-1 because there's a myth that it's needed for EB-1A. It's not.
In most ways, the H-1B is more convenient so long as you make the lottery.
It’s no longer possible to get news faster than Twitter for any story that is unfolding rapidly. This on its own makes Twitter a competitive threat to all other media entities
Build a company that is a small tax on every dollar spent in the whole category
Cloud providers: a small tax on all software
Ad networks like Google, meta: A small tax on every consumer dollar spent
Nvidia: a small tax on every dollar spent on AI
The storm expected tomorrow in the Bay Area sounds like something we are even more unprepared for given this past weekend.
Fingers crossed for minimal loss of life and property 🤞
Pear Portfolio company
@AfterHour_HQ
and
@imkevinxu
have built an incredibly fun game for people who love the markets and investing!
On a personal note, some of my most fun memories in the early days at Robinhood were sitting around the lunch table discussing random investment
This has been a dream come true to build
We built the sexiest bracket game for the stock market in the world
Huge thanks to
@papperzz
and his team for phenomenal execution
confident that Robinhood and its impact in driving the whole ecosystem's commissions to 0 had a significant impact in improving stock ownership especially for those below the 60th percentile. 🚀
@CoinbaseSupport
I’ve got a transfer in pending state for 6 months now. Multiple emails,phone calls and support requests later.I got a note saying that the transfer was cancelled months ago. Those tokens are still not returned to the account and still in “pending” in the app.
It’s amazing how space flight can captivate people from all kinds of diverse backgrounds! Amazing work by
@isro
to have a successful launch! Hopefully the entire mission will succeed and India will be the 4th nation to soft land on the moon 🇮🇳
This will be controversial, but if the US created unlimited immigration based on a bar for tax collected by the US (I.e high skilled immigration with no cap but a high salary hurdle), then I don’t see a way that China or any other would catch up on total GDP for a long long time.
Craziest news I saw today was how a fintech startup Frank allegedly created fake accounts and tricked JP Morgan Chase into acquiring them.
I then saw it happened in 2021, and it made sense how JPM fomo’d in
@pearvc
has been one of the strongest supporters and partners for startups at the earliest stages for over a decade. PearX is our program to help founders build the best version of their startup using all the resources and knowledge at our disposal!
Doesn’t matter if you love Satya / $MSFT or you hate Sundar / $GOOG management.
The natural evolution of a mature American public company is to appoint an Indian CEO 🇮🇳 $SNOW
This can no longer be organized this year. Most of the good varieties are already out of season. For example, no good Alphonso is produced after the end of May. This party is a great idea but will be mid unless you wait to do it next year and organize it last week of May latest.
Canada permitting any H1b holder to work at any company in Canada + the ease of converting to permanent residency without country quotas makes Canada an obvious choice for all h1b holders.
My own personal green card journey was time consuming enough that I know this will
The single biggest thing a country can do to become rich is to stop looking down on wealth and progress due to some utopian ideal on how evenly progress should occur and in what order
Good to see Modi echo Deng Xiaoping on Aaj Tak just now. When asked about inequality Modi turned the question around and asked the journalist (
@rahulkanwal
) if he would prefer it if everyone in India was equally poor. It’s okay if some people get rich first, said Modi. That’s how
Votes will be counted today on the elections in India with ~1b eligible voters and ~650million votes cast.
It’s a remarkably lively, intense contest. Whoever wins, there should be an acceptance of the results.
For the first time, there are some parties already trying to call
Incentives guide behavior: If the prerequisite for a manager to go to the next level in the career ladder is having more members in the team, you can be sure that smart, ambitious managers will be able to come up with a way to justify (even argue it is essential) hiring people..
Not sure if this is a comment suggesting the left >> right. The extremes are always bad but no Marxist country (or any other leftist ideology) has succeeded. Meanwhile capitalist countries produce higher quality of life for their people again and again. Capitalism >> socialism
Oh it is just that grifting the left wing is a tad bit harder because they are big on thinking logically and being skeptical of everyone and cancel their own messiahs at the first hint of ethical issues
@sdamico
@theallinpod
@Jason
Exactly! I remember interning at Tesla and after the internship feeling like I should buy stock at some point when I had enough money since it was an option at least!
Excited to partner with the incredible team at
@guardrails_ai
!
@ShreyaR
and her team are building the best platform for validating and enforcing expected behavior in AI applications
@paulg
Great essay! As companies get bigger, one of the reasons simply delegating doesn’t work is most of the actual work is being done in the leaves of the tree. It’s impossible to “game of telephone” via process up and down with the CEO accurately. All effective companies have some
I still don’t quite understand why England in spite of having one of the top 3 football leagues in the world (some would say top 2) hasn’t won a World Cup since 1966.
Surely they have the talent, interest ecosystem, money, coaches, fans etc etc 🤷🏾♂️
This is a great summary of why I am long India.
Most important point is that Indians know that we’re not number 1 or number 2 or even 3 ... There is a long way to go but there is a realization that there is a shot at being a very prosperous society by doubling down on
INVESTING IN INDIA IS IMPROVING INDIA
If you see a startup growing, does that mean it doesn't have any flaws? That it's the best in the world? That you're going to use it for everything right away?
No, of course not. But you might start using it, and putting money into it, and
People who think
@elonmusk
will fail with twitter or are hoping for it to happen amaze me with the lack of understanding of the history of his companies.
Tesla almost failed multiple times. Spacex almost failed multiple times. Mistakes will be made but I wouldn’t bet against him
One of the important things coming out of Apple’s announcement today is the start of what I think will be a long trend to models being smaller and on-device.
We will see this happen increasingly over all major computing platforms and across all major device makers.
A sign of a good growth team is one that pays attention to getting deep links right. Apps that drop you into the right spot within the app from whichever mechanism you received a link is key to a great experience
So many apps get this wrong when links come through email or text
The best possible scenario for startups is one where LLM models at the cutting edge become and remain hyper competitive. The lower the margins and profitability these providers have, the more startups will flourish as the cost of producing AI applications will be low. If most of
This is the ideal onboarding experience and a significant innovation only a player like Plaid can produce.
Why shouldn’t a person who has already been vetted and verified at say Coinbase and Chime not get the benefit of that when they sign up at Robinhood!
CAC is incredibly
Today, we're announcing something very simple: Sign up with Plaid.
That “simple” thing increases end-to-end sign up rates by 10 - 25%, and we're calling it Plaid Layer.
Here’s how we give you the Internet’s fastest, highest converting financial onboarding experience 🧵
If this is indeed just labeling, it is shitty. That being said, it seems like Intuit has >18000 employees. It is totally possible that 5% of the workforce wasn’t meeting expectations. Actually in every company I’ve seen or been part of , at scale at least 5% of folks aren’t.
Pretty shitty thing to do by Intuit.
Since this is a performance-based layoff of "𝘸𝘰𝘳𝘬𝘦𝘳𝘴 𝘸𝘩𝘰 𝘥𝘪𝘥𝘯'𝘵 𝘮𝘦𝘦𝘵 𝘵𝘩𝘦 𝘣𝘢𝘳", two critical consequences:
1️⃣ Employees terminated for performance reasons might be denied unemployment benefits
2️⃣ Laid-off workers
As someone from a “elite” school, something people don’t want to admit or talk about is how many doors in the tech industry are only opened for people from such schools
This is a part of diversity we don’t focus on or talk about and as an industry we can do a lot better.
I took delivery of my Tesla two days ago, and now the discount for folks taking delivery this month is 7500 🤔. I wonder if
@Tesla
will give the rebate to folks who just took delivery in the same week. Seems odd to not let folks know this was coming Cc:
@elonmusk
India’s best ever performance at the International Math Olympiad and surprised at how little coverage there is on major Indian news sites. These performances are a leading indicator to scientific excellence and should be celebrated 🇮🇳
Days like today are a good time to remember Warren Buffet’s investing advice to focus on great management always!
I remember attending this event in 2016 with some folks from the data team at Robinhood. It was amazing to see Jen-Hsun focus on the AI researchers and deep learning
Meta missed the cloud market but has incredible data centers.
Creating a managed offering on top of Llama + access to frontier models not yet open sourced may give them an opportunity to be a cloud provider after all if they are willing to do the Capex!
This is the right take.
It is really bad for the capital market structure that fosters innovation if the best companies stay private too long. If folks outside the ecosystem can’t participate in the upside of the best American companies via the stock market, they will resent
IPOs & robotaxi. For the record, I disagree with
@altcap
on size you need to be public. Also suggest the late stage group of investors may be biased!! They want a non-jump ball bite at apple. Or one not controlled by banks. If you are at $100mm and growing nice you can IPO
Feature request: autocomplete in the claude and chatgpt interface 🙏
My patience for fully writing long words in a text bar has been systematically reduced by years of conditioning.
The announcement of FedNow launching is very exciting and if every American FI joins, it will be the beginning of a new wave of innovation.
One key capability that I hope the Fed enables is third party applications and payment processors being able to power request for payment
To understand how much of a head start US financial markets have on India, The New York Stock Exchange (NYSE) was founded in 1792 : 230 years ago. India got independence in 1947: 75 years back. For context: in 1792 Tipu Sultan had just lost the third anglo mysore war 🤯
India needs a stable government, as long as the coalition is stable growth will continue. The pace of reforms will slow down as tough decisions could lead to a coalition partner walking away.
Decisions like the Indo US nuclear deal almost didn’t happen because of coalitions
This is why my India-stanning has never been Modi-stanning, despite certain Twitter dipshits who claimed it was. Put someone from the opposition in Modi's place, and my support India's rise won't even slightly change.
Countries are bigger than people.
Some thoughts on and gpt3. It is quite impressive! It replaces Google’s Knowledge Graph quite effectively. Things like who? when? what?
I used to think the search algorithm Google has is insurmountable. Starting to think it won’t be the edge long term.
Every wealthy country became wealthy by understanding that wealth comes from innovation which comes from valuing private property.
Socialism leads to economic ruin. Anyone in India advocating it should be forced to live and work in West Bengal for the rest of their career to
So many dodos crying about 1991 reforms, as if India gave up socialism post 1991. India continues to be socialist, its welfare schemes all come from socialism. The entire idea of a welfare state is a socialist concept.
How badly are 91 reforms taught to dodos in schools that
One interesting dialect difference between India and the US in company building:
In India you hear founders say “We decided to Startup” vs “We decided to do a startup” here.
Both make sense if you think about it 🙂
My little story about Cheyenne: I stopped there on the drive back from Kansas City to the Bay Area overnight. I thought it was just another small town we were driving through. The whole city feels like a small Bay Area suburb! Still had a pretty good Indian restaurant 🙏
One of the candidates for mayor of Cheyenne, WY (pop: 65k) created an AI bot that he says will run the city.
Victor will be on the ballot but 100% of the decision-making will be by AI; half the mayors salary will go to a non-profit, the other half to improve the AI
With Trump announcing his candidacy for 2024. There will be enough content in the next few years for Twitter DAUs and MAUs to 🚀 to the 🌕.
@elonmusk
purchase of Twitter just got incredible tailwinds . There will be no shortage of controversy
Turned off the Cricket World Cup final after only 1 run per ball was needed. I was certain India had lost. So glad I turned it on again in time to see the last over 🥹. What a roller coaster!
A game deserving to be a World Cup final