Fax Herbert @faxherbert Twitter profile

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Fax Herbert

@faxherbert

8 months

gm everyone, it’s day one.

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Fax Herbert

@faxherbert

1 year

@Karl_Luminus Imagine driving hundreds of miles in a straight shot through Texas or rural south. It’s 2am and you’re dead tired, sore, hungry, and your pregnant wife desperately needs to go to the bathroom but doesn’t want to stop at any of the dirty holes in the wall. You happen upon a

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Fax Herbert

@faxherbert

1 year

@Karl_Luminus The greatest place on earth.

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Fax Herbert

@faxherbert

6 months

TL;DR: D-2 but it’s still Day 1.

Eric Glyman

@eglyman

6 months

With Ramp’s latest financing, the best investors in the world are betting on what our team already knows: the @tryramp team has barely gotten started. Five years ago, Ramp began as a smart corporate card and we’ve evolved into a one-stop platform for financial operations. What

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Fax Herbert

@faxherbert

8 months

@when_to_fold_em We hired this sr. corp dev guy who joined my last company. He was aghast that we didn’t have multiple terminals as a private company. “But… how do you price assets?” “…CapIQ and Google…?” The look on his face was priceless. He was gone in six months.

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Fax Herbert

@faxherbert

1 year

@sinstockpapi Costco, Home Depot, and Ulta have done pretty well in the middle. My 2c: avoid retailers unless they’re a category killer. For consumer goods, you want to own things that cause someone to get up and drive to a store (usually means high margin for mfg / low margin for channel).

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Fax Herbert

@faxherbert

7 months

Family member comment on Ramp trailer: “Who is the guy who looks like Jimmy Neutron? He seems smart.” Me: “Oh that’s @zebulgar — he’s making drugs in space rn.”

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Fax Herbert

@faxherbert

6 months

I love how @johncoogan ’s @tryramp doc highlights our mentality. One recent example: We just had a great week but by Friday everyone was back on their grind — let’s get these inbounds closed, let’s get the next product shipped, and let’s find new ways to show who we are and what

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Fax Herbert

@faxherbert

5 months

Very excited to see the first Ramp Agent come to life!

Ramp

@tryramp

5 months

Introducing Ramp Tour Guide: an AI Agent that can show you how to do anything on Ramp! Today, we'd like to share a sneak peek of Ramp's near future. As Ramp grows in functionality, we want to make all of it easily accessible to all of our customers. To do that, we're demoing a

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Fax Herbert

@faxherbert

6 months

The full @tryramp documentary from @johncoogan is out — and I cannot wait to watch it!

John Coogan ex/cel

@johncoogan

6 months

THE FULL STORY OF RAMP - how @eglyman and @karimatiyeh built their first company together. - how they turned @tryramp into a hyper-growth company. - surviving and thriving in wildly tumultuous markets. - many more insights into the fascinating world of modern fintech.

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Fax Herbert

@faxherbert

8 months

@bucketshopcap Let’s be honest: it’s Citadel and then everyone else.

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Fax Herbert

@faxherbert

1 year

Our old solutions for payables & expenses were so incredibly painful. We’re now on @tryramp and it is just magic.

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Fax Herbert

@faxherbert

7 months

Happy 5th birthday @tryramp ! I can’t wait for the full @johncoogan doc to drop — the trailer looks incredible.

Eric Glyman

@eglyman

7 months

Ramp turns 5 today, and I want to share what we’ve learned about what it takes to build a great company. In 1827 days, this team has built one of the fastest growing startups in history and assembled some of the most talented people in tech. More importantly, we’ve recovered

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Fax Herbert

@faxherbert

1 year

@Jason @LAUNCH @ycombinator IMHO this advice from @lucy_guo is the way:

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Fax Herbert

@faxherbert

1 year

I think I’m more bullish on @Shopify after doing a weekend deep dive on the marketing SaaS space and @triplewhale in particular. Seems really smart for them to back/help scale a tool that improves marketing analytics + ROAS within their ecosystem.

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Fax Herbert

@faxherbert

8 months

@bucketshopcap Serious question: are there any sub $1B single managers launching + making it these days? Other than Golden/Wonders/Gaonkar (which were all $1B+ IIRC) it doesn’t seem like it.

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Fax Herbert

@faxherbert

1 year

1.) An AI 🧵: @wolfejosh ’s AI podcast was great (h/t @trengriffin ) bc it provided a sensible framework for several recent anecdotes.

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Fax Herbert

@faxherbert

8 months

@John_Hempton Believe this article called the top:

"No matter how you cut it, you've got to own Cisco" (2000) - The Big Picture

One of the core philosophical beliefs I hold dear is that the future is inherently unknown and unknowable. This tends to be true for the vast majority of people nearly all of the time. The world is...

ritholtz.com

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Fax Herbert

@faxherbert

7 months

@JohnHuber72 Convenience stores have created a lot of value: CASY and Couche-Tard have both been insane stock px CAGRs for decades. And Love’s and Buc-ees are incredible private businesses.

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Fax Herbert

@faxherbert

7 months

@amasad Possible that this is my brother-in-law.

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Fax Herbert

@faxherbert

2 years

One of the best SaaS primers that I’ve seen on fintwit 🔥

Patrick OShaughnessy

@patrick_oshag

2 years

My Screenshot Q&A with @BucknSF I wanted to see how much I could download from his brain in a dozen questions, with only a screen’s worth of room to answer each This feels like a mini course on software from someone who clearly lives and breathes the industry…

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Fax Herbert

@faxherbert

4 months

TIL: @duolingo has a taqueria in Pittsburgh. While a “Ramp Brasserie” that only serves dishes made with ramps is tempting, it seems somewhat far afield for us. @16SamBuck perhaps a pop up store with that 🔥 ramp pesto?!

Karine Hsu

@karine_hsu

7 months

TIL @duolingo has a restaurant called Duo's Taqueria that helps diners practice their Spanish!! "Spanish is Duolingo’s most popular language to learn in the U.S...and the restaurant is a way for people to practice their conversational speaking skills. All the waitstaff speak

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Fax Herbert

@faxherbert

6 months

My 7.17.23 write up on INFA: “As I was following Databricks, I read their 2023 State of Data + AI report (attached) with great interest — especially when I got to page 16, which called out Informatica as the *third fastest growing AI product* behind dbt and Fivetran (YoY growth

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Fax Herbert

@faxherbert

6 months

@Rebrand_As_Y Hi — long time listener, first time caller: Why does MTCH go down every single day?

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Fax Herbert

@faxherbert

5 months

@tryramp There are not enough fire flames emojis in my keyboard to properly express myself here.

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Fax Herbert

@faxherbert

11 months

@RammerCapital Analysts don’t have daily stress from P&L…?

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Fax Herbert

@faxherbert

7 months

Tough to compete with a hot cafe con leche and plate of croquetas on a Sunday morning at your neighborhood ventanita. This month’s copy of Florida Sportsman in hand. The american dream.

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Fax Herbert

@faxherbert

1 year

@LibertyRPF Big 1980s Steve Martin manic energy.

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Fax Herbert

@faxherbert

6 months

SQ created mkt for seamless checkout for brick & mortar SMBs. Vertical players like @ToastTab & @glossgenius now building software platforms (on top of checkout!) that function as full + specialized business OS — akin to what SHOP did in e-commerce. V. interesting space atm.

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Fax Herbert

@faxherbert

5 months

@Kazanjy I might be crazy but I actually think MailChimp was a good acquisition for INTU.

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Fax Herbert

@faxherbert

7 months

@Rebrand_As_Y *insert investor intelligence bell curve meme*

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Fax Herbert

@faxherbert

7 months

@eglyman @karimatiyeh Phenomenal — I am so insanely lucky to work with both of you.

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Fax Herbert

@faxherbert

1 year

IMO “special situations” experience will become increasingly important for venture investors over the next 12-24 months. Most of the companies that I speak with know that they have to get to financial sustainability ASAP, but what happens next? Earned wisdom here has value.

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Fax Herbert

@faxherbert

8 months

I’ve been lucky to sit w some A+ operators recently. What struck me in every conversation: 1.) How simple the frameworks for success are. 2.) How hard it is to implement them w discipline and rigor. Latter requires extreme focus on culture - both forming & maintaining.

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Fax Herbert

@faxherbert

5 months

@TrungTPhan Cheddar Biscuit alone is a $1B DTC brand. When you add in cooked + frozen meals a la TGI Fridays, pre-mixed Lobsterita cocktails, and a premium line of frozen DTC seafood (“RL Captain’s Select King Crab Legs and Lobster Tails”) there could be some juicy IP here.

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Fax Herbert

@faxherbert

2 years

@BillBrewsterTBB I went to @TuftsUniversity with Chris, where he & I both served time as PMs of the student-run Tufts Alpha Fund. Investments made during that 08-09 window included $TWC, $AMT, $AAPL, and $PM. He has always been an incredibly thoughtful investor with insane work ethic.

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Fax Herbert

@faxherbert

1 year

@GitHubCopilot 3.) @huggingface : “GitHub for LLMs." Two technical friends working on AI projects together have raved about a repository/library called Hugging Face, which they described as “GitHub for LLMs." They said the open source library has been a game changer for them, and has allowed

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Fax Herbert

@faxherbert

1 year

@GitHubCopilot @huggingface @PyTorch 5.) @Cloudflare : " @Akamai for @OpenAI ." I was recently talking to a coworker (who also used to be a public TMT investor) about his favorite public AI names. He said that he liked Cloudflare ($NET), which is "Akamai for OpeAI and other LLMs" and down something like 80% from peak.

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Fax Herbert

@faxherbert

9 months

For the first 5y of my HF career, I was a full-time short seller. I loved going deep: reading filings b2e, surfacing esoteric info via Google/calls/DBs, and precisely modeling how cash flowed in & out. But it bred pessimism. And that felt bad. For b/w, I’m a glass-half-full guy.

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Fax Herbert

@faxherbert

9 months

@convequity MNDY is an Israeli company. The stock was already cheap, but in the ~month following October 7 it underperformed by +/- 20%. It rallied hard into year end but so did everything else in SMID cap SaaS… thus still looks *very* cheap on a relative basis. I’m long in my PA.

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Fax Herbert

@faxherbert

6 months

@GuptaRK22 @sequoia @eglyman @karimatiyeh Welcome to @tryramp sir!

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Fax Herbert

@faxherbert

6 months

@SethGRosenberg @JojoYoungerman @tryramp @GreylockVC @eglyman @karimatiyeh Proud to have your support @SethGRosenberg !

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Fax Herbert

@faxherbert

8 months

@johncoogan If you don’t do this, I’m deleting you from my contacts.

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Fax Herbert

@faxherbert

11 months

Update: today was a good day.

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Fax Herbert

@faxherbert

8 months

Our mission is to save our customers time and capital, enabling pursuit of their own critical missions. And we are proud to power financial operations for El Segundo 🇺🇸

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Fax Herbert

@faxherbert

7 months

Off to MS TMT tomorrow — my first return to SF since April 2022!

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Fax Herbert

@faxherbert

1 year

@GitHubCopilot @huggingface 4.) @PyTorch & JAX: “Run a cluster of 4090s [on these] and you've got yourself a hopper for under $20K." I recently began looking into buying a datacenter locally. The ~5k sq ft of leased, tier-3, powered/cooled space is only ~30% utilized today... so my initial thesis was that

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Fax Herbert

@faxherbert

10 months

@trengriffin Beautiful fish.

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Fax Herbert

@faxherbert

7 months

@growing_daniel

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Fax Herbert

@faxherbert

6 months

@iandmacomber Honestly this was gonna be my tweet — very glad that you posted it 👌🏻

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Fax Herbert

@faxherbert

8 months

@zekedup Haters tired. Industry humming. Decels bumming. Freedom ringing. Luke Combs singing.

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Fax Herbert

@faxherbert

1 year

2.) @GitHubCopilot : "We won't need to hire any more software engineers for a long time..." Friend runs a team of developers in Croatia for a private company that builds custom learning SW. His team began using Copilot late last year, and he said that his dev productivity had

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Fax Herbert

@faxherbert

1 year

@rsandler21969 Something is very odd here. All kinds of rumors going around, like Blinken pushing this through as a ‘bribe’ to get Saudi help on Russia / China. If it goes through, it means highest levels of gov’t did some shady back room deal.

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Fax Herbert

@faxherbert

6 months

Update: did not burn the roux.

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Fax Herbert

@faxherbert

7 months

1) history of containers is interesting for ppl looking at ai infra sw: - containers: exist - everyone loves them bc they can do most of what a virtual machine does w less compute; everything is packaged up neatly and runs on a common os

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Fax Herbert

@faxherbert

8 months

@zebulgar Incredibly inspiring

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Fax Herbert

@faxherbert

4 months

@elonmusk How much do clothes cost in the matrix?

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Fax Herbert

@faxherbert

1 year

@MetacriticCap “Owning mission critical saas is better than owning first lien debt.” - Robert Smith

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Fax Herbert

@faxherbert

8 months

@pitdesi @Indian_Bronson @rabois Identical housing stock in Mill Valley costs 50-60% more and the commute is twice as long to a downtown area that is extremely unsafe.

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Fax Herbert

@faxherbert

4 months

Good snapper bite last night. Met an 83yo who got the 2 biggest fish (Muttons). He credits his longevity to eating fish & grits every day for breakfast, quitting smoking at 30, and no alcohol intake for last ~40yrs. Nice to think about many decades of compounding ahead!

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Fax Herbert

@faxherbert

8 months

@bayareawriter I loved watching @bfeld & the rest of these guys from afar. Respect for this decision.

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Fax Herbert

@faxherbert

1 year

One problem with owning small cap platform stories is that they just get bought. I loved $ESMT but it’s about to get flipped to another PE (probably Vista or Thoma). The odds of finding the “next Constellation” at sub $10B cap are vanishingly small.

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Fax Herbert

@faxherbert

11 months

@LibertyRPF After some consideration, I wonder if he’s actually talking about $ATUS + $CHTR here?

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Fax Herbert

@faxherbert

8 months

PEDD team @tryramp continuing to flat out wow us 🥹

Rikin

@RikinPatel13

9 months

@tim_cook @tryramp sees the vision too 💳

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Fax Herbert

@faxherbert

9 months

@tolstoybb Buy the ticket, take the ride.

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Fax Herbert

@faxherbert

6 months

@rabois 🫡

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Fax Herbert

@faxherbert

7 months

technical research for non-technicals: 1) ask builders: what is no1 pain point? 2) read blogs to dd scale / severity 3) kw search specialist subreddits to see how fixers solve 4) search youtube for tool(s) listed by fixers and watch seminars if they exist 5) form view & test

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Fax Herbert

@faxherbert

1 year

@jaminball Where are you generally seeing secondaries cross? FWIW, I’m seeing 50-70% discounts to last round for some brand name companies…

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Fax Herbert

@faxherbert

8 months

@pitdesi @Indian_Bronson @rabois This is a bad comparison because the starting points are wildly different; Miami has risen faster on a percentage basis but is still downright reasonable compared to Bay Area. (Used to live in Marin County, now live in Miami Shores area.)

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Fax Herbert

@faxherbert

11 months

The interesting thing about $SHOP is that hedge funds largely missed it as a 4-5x pre-COVID. It was a fairly liquid $10B+ company by 2017 but everyone was short or on the sidelines: AMZN is gonna kill them, their affiliate marketing is shady/unsustainable, their customers are

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Fax Herbert

@faxherbert

8 months

@ReaperCapital Calacanis / Chamath / Sacks

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Fax Herbert

@faxherbert

3 years

Sol Duc steelhead @trengriffin you have some beautiful rivers up in Washington!

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Fax Herbert

@faxherbert

6 months

@ScottBoehme @GuptaRK22 @sequoia @eglyman @karimatiyeh This is possibly the most bullish thing that someone could say about a software company’s finance leader.

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Fax Herbert

@faxherbert

5 months

Summer Saturday nights:

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Fax Herbert

@faxherbert

8 months

@lordofpunjab @JaredSleeper sorry I mean mala = sw investing goat; she caught the turn in msft at lone pine before anyone else and followed w core position in NOW at fund launch + pitch at Sohn ‘22 near low. Crwd is a great company and one of a select few who can deliver growth at scale rn

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Fax Herbert

@faxherbert

6 months

@karimatiyeh Can’t wait to see what comes out of the kitchen next 👀

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Fax Herbert

@faxherbert

9 months

Throughout 2023 everyone wanted to talk about growth-stage carnage. But there are rare firms like @LeadEdgeCapital ; they raised a $2B fund in 2022 and I’m pretty sure they haven’t deployed any of it yet.

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Fax Herbert

@faxherbert

1 year

@Bfaviero So true. Very easy to be productive all day when you can wake up with a 6/7am beach walk (and a cortadito!) and end the day with a sunset swim in turquoise water.

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Fax Herbert

@faxherbert

8 months

@johncoogan Protect this man at all costs

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Fax Herbert

@faxherbert

1 year

@LibertyRPF I really enjoyed it. Affleck was great as Phil Knight.

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Fax Herbert

@faxherbert

9 months

Whenever I can work ‘Postgres’ into a conversation with an engineer:

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Fax Herbert

@faxherbert

1 year

@jamoses92 @JoshuaSteinman @GalvanickCo I’m so happy that companies like this one are being funded 🇺🇸

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Fax Herbert

@faxherbert

2 years

Thanks for putting this together!

Nakul Mandan // Audacious Ventures

@nakul

2 years

We often get questions from our product/technical founders on initial go-to-market (GTM) team buildout. Of course, every situation is a bit diff but here’s the typical $0-3M GTM hiring sequence we see for top down SaaS (distinguishing btwn SMB / mid-market and Enterprise):

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Fax Herbert

@faxherbert

1 year

@auren MSFT

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Fax Herbert

@faxherbert

8 months

@matt_slotnick AI companies obv powered by Celsius

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Fax Herbert

@faxherbert

8 months

@IrrationalMrkts Almost no professional investors add meaningful alpha and most who do lose the plot at some point; i.e. SPO was great until it wasn’t. In terms of real long term compounding, Akre is probably one of the best.

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Fax Herbert

@faxherbert

7 months

@rmcentush Good.

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Fax Herbert

@faxherbert

7 months

@valueterminal I’m pretty sure that I worked for this guy.

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Fax Herbert

@faxherbert

2 years

@IVP ’s track is pretty f*cking great. @tomloverro ’s track is pretty f*cking great. I would pay attention here.

Tom Loverro

@tomloverro

2 years

PREDICTION: There's a mass extinction event coming for early & mid-stage companies. Late '23 & '24 will make the '08 financial crisis look quaint for startups. Below I explain when, why & how it will start & offer *detailed advice to founders* on surviving the looming die-off. /1

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Fax Herbert

@faxherbert

3 years

HAWGUST continues off the Marin Coast. Nothing beats captaining a good friend to their first salmon!