Enough already. There is no pre-seed, seed, or Series A (or whatever the fuck comes before pre-seed). Itโs all dead. And thatโs fine. IMO itโs now pre-product, early-traction, pre-scale, and scale.
And the valuations?
Alright folks. So my wife helped lead communications for Swine Flu in King County and knows whatโs what. Now is not the time to panic. Just wash your fucking hands. When Iโm panicking you can panic.
@DavidSacks
@friedberg
@theallinpod
Already too late wrt the fertilizer. Most areas had to make the decision already or are this week. Anecdotally itโs gonna be a mess. Hidden story coming is how fucked smaller family-run farms are. Too expensive to plant this year even if inflation adjusted yield justifies.
I didnโt take paternity leave and was in a meeting with a potential acquirer for my company the day after my kid was born. I powered through it until I went into such a deep depression that I almost wrecked my personal and professional lives (it was ugly). TAKE PATERNITY LEAVE.
In the past couple of months Iโve had portfolio companies with the same ARR raise at a $20m, $200m, and $1.5b post-money valuation. This is not the same game it was a decade ago.
@heyalexfriedman
Love him or hate him Al Gore as VP and even while running for the presidency always showed up to his sonโs sporting events and sometimes would even come watch practice from the bench. I still think about that a lot and it reminds me as a parent that if he could make the time so
Here
@crashdev
and I go! Itโs been a truly wild and humbling ride from portfolio founder to partner. I canโt wait to see what the next 10 years brings.
Today I did the hardest thing Iโve ever done in my entire life and Iโve also never felt better. Other men out there, donโt be afraid of therapy and also lean in when you can. You have no idea whatโs possible, it just might take years and more courage than you have today.
The only places for food open at the Woodland Park Zoo today require proof of vaccination to enter. The meltdowns are EPIC, I would pay the admission fee for this alone ๐
Definitely donโt move to Seattle. Itโs awful here. I hear Miami is great though from many, many people that I definitely trust the opinion of and have no reason to lie to you nor a track record of lying to people.
The Seattle startup ecosystem is about to explode. How do I know? Because more amazing folks than ever are asking me for advice on when itโs finally time to quit their day jobs an go full time. So I turned my (rather divisive guidance) into a blog post.
Pre-product: $6-40m
Early-traction: $10-60m
Pre-Scale: $40-$300m
Scale: $80m-$1b
And itโs not necessarily time-related. You could be raising in any of the first 3 buckets less than 12 months after founding.
OMG learning a about a lot of CEOs who wired to their personal bank accounts from SVB yesterday. Time will tell if this was a good decisionโฆ the legal and even tax ramifications are uhโฆ real.
10 years ago I was interviewing
@matt_oppy
and
@shivaas
of Remitly in a shitty unfinished office on Boren Ave N for a spot in Techstars Seattle. Today, theyโve become the first
@founderscoop
company to go public. And theyโre just getting started. ๐คฏโค๏ธ๐บ๐
1. Startup curious engineer turns down offer at well funded and promising early stage startup because the comp isnโt good enough
2. Said engineer founds company instead and gets funded
3. Engineer turned founder struggles to hire engineers because comp offers arenโt good enough
@JoeCrookJD
@tressiemcphd
One of our initially supportive neighbors petitioned to have our local one removed *from in front of the CHURCH* because the โfree foodโ was attracting a โbad elementโ. Likeโฆ put the food in to feel good but please keep the people who need it away?
My parents, who would normally be with us tonight, went through an elaborate plan of building a believable tube-based machine that could send candy from Florida to Seattle in realtime. We coordinated on the kinds and had it drop from the ceiling after they did it over FaceTime ๐ฏ
Reading through Techstars applications and feel the need to remind folks that calling yourself a โpost-revenue companyโ doesnโt land like you think it does.
Just learned that the last line of my code was retired this week by our acquirer. Congratulations to everybody that no longer has to deal with it and Iโm so so so sorry about the past few years ๐ฌ
โThe best way to [avoid contracting the virus] is to decrease intensity and frequency of contact with other people.โ
That upcoming weekend-long alumni basketball tourney is looking doubtful af.
I never met RBG but Iโve also never been prouder to carry the name, she hung on as long as she could for all of us. Weird fact (and not something I use for security questions) but my dadโs last name is Ginzburg and my momโs maiden name is Ginsburg.
I have a love/hate relationship with investment memos. Today itโs a love relationship. This $750k was at the time our largest first check *ever* and our first of that size out of our previous $25m fund (itโs now $50m). Glad I didnโt talk (write) myself out of doing this one.
Iโve been saving the last bit of this for a very special occasion for many years. Tonightโs the night. Cheers and thank you
@JoeBiden
and
@KamalaHarris
. Letโs do this.
Being a founder is hard, but I literally have no idea how folks with kiddos under 13 are doing it right now. Infinite respect for those even pulling it off 10%. I would have failed miserably (in life) if this was happening 5 years ago.
We are off and running with the 2018 Alexa Accelerator, powered by
@techstars
! Iโm incredibly excited to work with these founders for the next 3 months.
Tomorrow I begin a 10 day RV camping road trip back to Seattle from the east coast (currently in the Catskills) that we only started planning once we were here and after my parents got COVID and the trip got disrupted. Interesting Tweets aheadโฆ
Thanks
@geekwire
for chatting with me about my crazy life decisions and helping me workshop my pitch for it. โYou might get injured. But thereโs gig fiber.โ๐
This is probably the last day that I can ever share this story so here it is. When I was a kid in 1993 I had an OJ Simpson rookie card. He ended up at my house (long story) and I asked him to sign it. He never did and left with the card. OJ Simpson stole his own rookie card from
I still remember that time that Twitter killed Simply Measured by forcing us to pay them 20% top line revenue (>5x the negotiated ~$800k/yr contract + they were our 3rd most popular network) or sell or get cut off. So basicallyโฆ I spit on your grave is what Iโm saying?
In my experience an average non-engineer underestimates technical debt by close to 200% and the average engineer only overestimates it by about 50%. Moral of the story though is that everything is very bad and always on fire always.
As of today Klout may no longer exist, but I'll always have a copy of this signed term sheet (healthy signing bonuses + large equity packages not included) that would have had Untitled Startup acquired by Klout in 2010, months before we came up with and became
@simplymeasured
.
My grandfather escaped the Nazis in ๐ต๐ฑ and went to ๐ท๐บ to join the army & fight back. 10 years later he fled ๐ท๐บ after persecution & 2 years in a Gulag to ๐ฎ๐ฑ. The cycle has seemingly ended for my family but continues for countless others. My heart is with ๐บ๐ฆ & all of Eastern Europe
@garrytan
@RMB
+ โICOs are for scammers, so weโre raising a $6m equity round in the holding company on a $25m pre even though weโve written 0 lines of code and have no track recordโ
Chicken broth... less good in oatmeal than hazelnut milk. Fuck mornings, fuck that packaging, and may the gods have mercy on this twisted oatmeal Iโm still going to consume.
Look at *any* footage from today and tell me that you donโt want to raise your kids in a city. Weโve got a lot of work to do, but I see a better world through the diversity that exists in our cities and am proud to be part of it. Thatโs the America I want to live in.
My 2 year old: โDaddy, are these the last days?โ
Me: โWhat?โ
Him: โAre these not the last 2 days?โ
Me: โWhat?!โ
Him: โThis is a bagelโ.
*I pour myself more coffee and carry on with my morningโฆ deeply unsettled.*
The point being, if youโre trying to invest in a startup with a product or meaningful traction, youโre going to have a bad time without a huge fund. Invest early and with conviction? Carry on.
AI just killed Excel.
No more complex formulas and 10-hour tutorials.
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Get more Guides & Prompts like this by signing up to Superhuman AI--the worldโs biggest AI newsletter.
Itโs officially on for the Alexa Accelerator, powered by Techstars 2: Alexa Boogaloo! Working on voice? Letโs talk. (PS: I really hope Iโm not that old and that a lot of you still get Breakinโ references).
Well I just died. The guy next to me at the bar told his date that the thing he is most passionate about right now is an app heโs building, itโs called Fintech (like the name not the description), and heโs shoestringing it or โwhatever itโs called when you self fundโ. He has 5
Mom to our 3 year old: โDo you know what dad does for a living?โ Kiddo: โTalks to the computerโ Mom: โWhat do I do?โ Kiddo: โType on the computerโ ๐ท๐ค
My fatherโs day was cooking my favorite dishes from
@pokpokpdx
for the family (whole meal took 5 hours doing everything from scratch when possible + created a new fish dish).
I just canโt get over how absurdly silent or straight up antisemitic social justice Twitter/X is right now. From the amateurs to the pros. Iโm sorry that things got too complicated and that your narratives became fully incoherent. I mean that sincerely, I was always jealous of
I never thought that Iโd ever say something like this but I have to... I fucking love my bank.
@firstrepublic
,
@Samirkaji
, and all the other folks there that Iโve spent time with are exceptional and provide value I never expected from a bank. Thatโs it. Thatโs the Tweet.
Looking for a way to support local businesses in Seattle? We have a fix!
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Not gonna lie, Iโm laughing my ass off at a few people I know who recently left $AMZN for $FB because of stock-based compensation ๐คฃ You all absolutely fucking deserved this. Also, you should have joined the startup I was trying to get you to join instead ๐
#LONGSEATTLE