Category: Chronicle

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Chronic Disease Chronicle

Day 63 and Directionally Correct

I default to action over inaction. Don’t know if something will work? Try it!

I’ve never struggled with paralysis by analysis. I intake a lot of information and then even if I’m not sure I’m entirely correct I’ll still jump if I’m confident I’m directionally correct. This had proved to be a good recipe for startup work and financial gain. But I’m learning this methodology is fairly shitty for health.

Medicine needs a little more patience and a lot more precision. Data points accumulate and you can only effectively progress if you can isolate what is causing distress. I fucking hate this. I want to throw a thousand drugs and supplements and protocols at my body and just move “directionally” towards health. Portfolio theory doesn’t really work on autoimmune diseases as it turns out.

Thanks to an incredible functional health doctor I have been making fast strides in my quest to control my autoimmune disease. My pain has been under control, my spinal swelling is down, my energy is up and my focus is clear. So I was particularly frustrated last week when adding a new drug to my regimen wasn’t clearly “correct” and I had no way to tell if it was directionally correct. I just have to wait it out.

I had terrible migraines. My pain spiked. My sleep suffered. And all I wanted to do was throw more drugs and supplements at the symptoms so I could get back to life. I have been doing more investing, advising more companies, and taking on more personal projects. I didn’t want to lose that. I love working.

But unlike with startup life I can’t just muscle through it and see if my bet will pay off. We have to be careful. Systemic cascades are bad in biology. Think cytokine storms and covid19 cases. I could easily undue all this progress in my pursuit of action over inaction. We need to be more certain that my body can handle this new drug regimen and winging it isn’t an option.

So I’m stuck being patient (pun not intended). I can’t push it. Directionally correct isn’t good enough. And that means slowing down so I can go fast later. In some areas you need higher degrees of certainty.

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Aesthetics Chronicle Finance Internet Culture Media Startups

Day 62 And Who Can Make Art

My ego dislikes debate, but my heart leaps at tension.

Over the weekend, my friend Phil and I decided to make a functional art installation called Illegal.Auction. The premise is simple: we are selling Fungible Tokens (or NFTs) of Culture. 

Unsettled ideas of generation and representations colliding with abstractions like finance are important issues both culturally and practically.

Art is for itself, so who cares either way. A certain dogmatic insistence that “medium is the message” is pervasive in the critiques. Are movies different than books? I don’t think they have anything to do with the price of milk. It reminds me of the classic Annie Hall scene (speaking of artistic intent and harm) where Marshal McLuhan explodes on a chattering group “you know nothing of my work.” Woody Allen’s character concludes the scene if only real life were like this. Well on Twitter you can recreate this scene everyday!

It is funny because commentary is distinct from creation. And a lot of people have takes on McLuhan that he himself doesn’t agree with. But who cares right? Interpretation of art is ostensibly art.

It’s very interesting to see just how angry people get about the worth and value of culture in particular. As if it’s some monstrosity to comment on the abstract financial value of some creation with worth that cannot be extracted.

If it were so easy to make value judgments about art then we would trade it on the Chicago exchange like pork bellies and orange juice. Not that we don’t already sell art and trade it and frankly it has been a massive tension through the history of human creation how we value that work, but now many have decided to insist that art is non-fungible. Not interchangeable on a one to one basis like an apple. And yet we are acting like everything can be valued and traded so easily with NFTs. By making art tradeable on exchanges, we have made some thing inherently non-fungible, fungible.

This is ultimately where Illegal.Auction came from. These conversations are important and transformative. That we choose to represent the tensions with representations of reproductions of jpgs of art is part of the art installation. That it is a functional sale is in inherent to the tension.

There is a part of me that is really worried that because I am not a practicing artist that is paid for work or represented in a gallery, that I don’t have a right to comment on these issues. I am a technologist and I do work in finance and the overlap of disciplines makes this an inter-disciplinary question in my mind. It seems like some people disagree with my right to create art (and certainly the morality of remuneration).

But if we insist that only artists can make art I don’t have any right to make installations remixing software and representations. But I’m not sure anyone reading this is comfortable with that world. I am not.

I think people want there to be simple yes no questions to these things. Is it legal? Did you steal? Is it a transformative remixing of a cultural artifact? Is it worth $1 million? And the truth is is that there is no easy answer to what political system is best or how much some thing is worth. Trillion dollar industries are based around the fact that we don’t have clear answers. Irate commentary doesn’t help any of us understand the infinite questions of worth and creation. It is good to do and helps further understanding but its crucial to remember indignation and moralizing is a function of ego.

Personally I don’t think that wealth has any moral value. I don’t want to have to be wealthy in order to be valuable. Or if a piece of art I make does make money do you have a right to tell me it is objectionable because this isn’t how you make money? I guess you do. Whether you can stop me from doing it is a central questions for the ages and also literally why it is important to create pieces like Illegal.Auction in the first place.

This commentary I think is worth having. Not whether speculative infinite land grabs with financial instruments make you worth more to billionaires. They probably do. That’s fine! I think people are mostly offended by the idea that non-artists can make art. Especially if a transaction takes place. If we had stamped illegal on the jpgs and blocked out NOT ART on them would it have made it better? Conceptually I’m not sure that that’s true and probably reflects the viewer’s own sense of value and worth more than a legal, political or moral reality. Also I personally think it cheapens the point just to make concessions to dogmatic insistence on ownership in a space that isn’t settled because frankly it cannot be.

Much of the narrative and coverage around NFTs is that they delineate ownership, value and origination more cleanly. I’d argue that they are actually having the opposite effect. NFT’s are ripping away edifice and abstractions that we use to assign value and worth. And that makes people uncomfortable.

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Chronic Disease Chronicle

Day 60 and Never Saving Anything For The Swim Back

I’m feeling scrambled today as I’m not quite in a place where I can push myself without consequences but I’m also not so sick that I can’t work at all. It’s an awful liminal state where I’m working what is probably the actual productive output of an average person but still need to buffer in time for medical shit.

I honestly contemplate just lying about being sick some days. I could hide the disability of chronic illness and no one would be any wiser. Well minus the public posts about being sick but you get my meaning. I’d probably have to get a little bit better at scheduling work during consistent productive hours, push through when I feel like shit, and then crash when I wasn’t on the clock. I’d be seen as a little unreliable but definitely enough that I could manage as a director at some company.

I’m not sure if this says something bad about me or about the expectations of the American workplace. Probably a little of both. I’m clearly a bit of an outlier and we don’t actually expect that much output from the average worker. When I’m operating at my full capacity I blow away workloads. I sometimes doubt if I’ve ever been at full capacity and I’ve been faking it my entire life. I’ve never been completely hale and hearty. I’ve always had a tendency to put on a show when I’m in public and then retreat into recovery when in private. I’ve been a very boom and bust person.

I don’t really want to live this way though. I’d rather run a marathon than be a sprinter that is collapsing after each race. I recognize that in some way this pattern of intense work and recovery isn’t sustainable. It’s also clearly an addictive pattern. But I’m too scared to admit that I don’t really know what a consistent healthy working life looks like. I’ve been an addictive compulsive worker my whole life because I never trust that I can rely on my good hours to be consistent. I gulp at each hour of feeling well like I’ll never get them again. The fear that this is my last shot at feeling well is palpable.

One of the most formative pieces of art in my narrative self is the movie Gattaca. In a dystopian future, children have their genes edited before they are born. The protagonist of the film “Vincent” played Ethan Hawke is an “old fashioned” human conceived without any edits. He has a heart condition and other frailties. His brother Anton was given edits. Despite being an “in-valid” Ethan Hawke is able to find his way in to a space program using contraband genetics. His brother is furious and cannot figure out how his disabled brother is able to beat him. This fraternal tension plays out in two swimming competitions. The invalid brother Vincent bests his genetically superior brother Anton. Twice. How did he do any of this!?!

“You wanna know how I did it? This is how I did it, Anton; I never saved anything for the swim back!”

https://www.youtube.com/watch?v=fe9Fc34GozY

I really internalized this logic as a teenager. There is no gene for the human soul. Winning is not about being superior it’s about giving it your all. I bought this. So I never saved anything for the swim back. Except that maybe this is a shitty strategy for anything but races. That if you need more than to win a swimming match you can’t go all out every single day. That this is actually a strategy that will kill you.

Of course, I am petrified that this isn’t true and I should be swimming like Vincent every day. That he was right that greatness is forged in extreme effort. That I should give my all till I collapse. But then what?

I’m stuck in a behavioral pattern of self limiting fear that I must always be striving or I will literally be dead. It’s live at the edge till I win. But win what? Sometimes you fail. That’s how you learn. Failure is a crucial part of success. But if I am always swimming to failure I’ll never recover enough to learn from my failures. I’ll literally be dead in the water. So I’m stuck in this place of fear where I know I can’t always give my all but I don’t really yet believe that there is any other way to succeed.

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Chronic Disease Chronicle

Day 58 & The Line Between Progress and Woo

While I spent my childhood deep in the western canon, now I spend my leisure hours reading science fiction. I’m just gaga for space operas, singularity stories, transhumanist breakthroughs and anything else you might put in a paperback to showcase “the future” right around the corner.

I’m what you might call an old fashioned technical progressive. Everything the future brings has a bright side. It’s probably the counter cultural hippie heritage I have. A better life is just around the corner.

Add in the additional nuance of having a chronic autoimmune condition and you can see how the line between science fiction and woo is a little blurry for me. One day a supplement is part of your favorite biohacking routine and the next it’s in the business papers making news as the latest breakthrough for life extension. That’s a real drug by the way. It’s called metformin and I take it every day.

I play around with a lot of weird “science-not-yet” stuff like a pulsed electromagnetic field to produce an analgesic effect in my spine. And I get made fun of pretty regularly by scientific method folks who scoff at basic studies that haven’t fully satisfied their curiosity.

But I honestly don’t care. I want to feel well. I want to thrive. Why wouldn’t I be trying out the latest treatments, supplements and pharmaceuticals? Why wouldn’t I experiment on myself. I don’t want to wait for everything to be double blind studied to death in twenty years. Will it kill me? No. Great let’s go.

We’ve given up on the joy of progress in my generation. We’ve let our imagination sour on the birth right of scientific advancement for the human race. It’s sad we’ve become so cynical. And sure, I often critique predatory health care that sell shame cures to the worried well. But are we confident we understand the line? I’m not. That electromagnetic device I thought was woo? My fancy upper east side New York rheumatologist used to have one in his office but found patients would rather take a drug than spend an hour on a machine even if the efficacy was the same.

Why is it so impossible that I might cure my spinal pain and reset my immune system? Is that crazier than landing Perseverance on Mars? I don’t think so. Sure I don’t like hucksters or charlatans either. And I still think places like Goop prey on desperation. But do I want to believe? Yes! Because progress happens. And it is making our lives better. We can expand our lives. Live better ones. It’s not a hopeless spiral to the destruction of the planet and our species. But if you want to come along for the ride you might have to tolerate me doing some weird shit. Till we prove it of course.

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Chronicle Finance Internet Culture

Day 57 and The Fungible

Finance commodifies. The value of one thing must be stacked against the value of another. We can put “a thing” in a ledger and trade it for another thing.

Making something that is not a commodity into a piece of property that can be valued, traded, sold, or transferred is the natural order of financialization.

Not content with turning food or labor into commodities, we have created financial products to divine literally anything into an asset that can be owned, traded, or hedged against.

We’ve decided on fancy vocabulary words like fungible to make the basics of human reality seem more exciting. Or maybe just to charge more for it. 2 and 20 requires a bit of song and dance I suppose.

Fungible is a funny word too. Interchangeable makes more sense. It has more inherent meaning when brought to the context of finance. Sure, we bristle at the idea that our labor, our time, our creations are interchangeable, but we assign values to them so human creations largely have value that are easily exchanged. Finance commodifies. Just because you are unique doesn’t mean your creations aren’t things.

This week we sell non-fungible tokens (nft’s). A financial person might stop and think “ok, but I prefer the fungible, as I myself trade interchangeable things”. And this isn’t, it’s right there in the name. And if I’m not, I damn well better be doing it with something that has a price we agree on like a dollar or an ounce of gold.

And yet here we are with the NFT. Art lands in this category. It is unique. It is non-fungible (say that at a party and see how fast people walk away). It is unique it and cannot be made interchangeable. And yet we sell set.

So how do we trade it? How do we assign value? This contradiction tickles the minds of thoses who have aggregated many interchangeable items with agreed upon values. The rich I mean. The rich enjoy the tension inherent in a thing not being a fully agreed upon commodity. A “not thing” can be worth more than a “thing” precisely because we don’t agree on it. Even if the process of assigning something a price can often feel like it is toeing the semiotic line of “not a thing” assigning value brings it into “thing-ness” by anchoring its reality to the present.

Signifiers are required. The semiotics of value. The desired exchange. And so we toss technical terminology on top like fungible and pretend these frameworks make it easier to turn a “not thing” into a “a thing”

The non-fungible token. It is right there in the name. It is not interchangeable. And yet it has an assigned value. It has been funged.

Standardization, interoperability. Tradeability, liquidity, immutability, scarcity. Amazing what finance can do to a “not thing” in no time at all.

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Chronic Disease Chronicle

Day 56 and the Indignities of Physical Existance

I was raised in a “walk it off” family where my father got walking pneumonia like clockwork once a year. Working through it was just what tough Scandinavians braving the world did. We are tough people that can ride out the indignities of physical existence.

I find myself saddled with that self limiting belief to this day. Even as I recognize the importance of restorative rest for building physical and emotional gains. It’s hard to let go of the addictive tendency to prioritize pushing the work when you should be recuperating.

I’ve been trying out an an antibiotic that just doesn’t agree with my stomach. I found myself with a mess on my hands and the kind of emotional exhaustion that only comes from physical embarrassment. I soiled myself and I just wanted to shower and take a nap. But I had calls so I pushed through as I was excited to hear a pitch from a founder. Afterwards I was a mess. I had dug into my energy reserves and was starring down a migraine and a panic attack. Wisely I got myself in bed and took a few hours to get back to a baseline. Called my doctor and asked if there was a different option which there was.

I’m jealous of people for whom daily life isn’t a constant balancing act of scheduled obligations and exciting opportunities butting up against the reality that bodies are unreliable and even fragile. I’d give anything not to constantly have the back of my mind taken to with supplements, medications, treatments, tallies of how long I’ve got before I need a break. To be free of the many bodily concerns that have come to define my existence. Oh how I envy those that never worry about what new thing their frailty will bring them today.

The feelings passed and I was able to go for a long hike in the snow in the afternoon. But the fear of never knowing when my body will go from reliable to requiring help is a burden I’d like to give up. I’m hard at work trying to make it a reality.

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Chronic Disease Chronicle

Day 54 and Fat Fingers

I’ve got an overactive immune system which has occasionally manifested itself in frustrating skin conditions like eczema. They are mostly irritating but rarely debilitating. Case in point? Despite being on a variety of immunosuppressants I got some inflamed skin which got infected. I stupidly ignored it despite it being my thumbs. This matters because my right thumb is bandaged up and covered in antibiotics making typing very challenging.

Literally none of this matters except to say that my longform writing for today is just going to be one paragraph because my only other option is talk to text and that will leave this even more rambling and disjointed than usual. But I have to put something on paper every day so this is it. Hopefully tomorrow my thumb is fine and I can get back to writing about start ups, or finance, or Neil reactionaries, or whatever I damn well please.

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Chronicle Startups

Day 53 & The Process

Startup land can feel exclusionary and clique driven. Looking in from the outside it can seem as if all the power and money is concentrated into a few groups that only fund and hire their friends. Less charitably it looks like a circle jerk.

While this isn’t an incorrect perception, I believe why we think it is exclusionary is very different from the reality of why it is exclusionary.

Startups are tight knit because successful companies have high psychological safety. We all tend to work together again and again and back each other’s plays because we have built up a high trust environment in order to survive. Even if we don’t exactly see the vision someone else has we trust that they will find a way to make it into a reality.

We don’t trust that this is true for everyone. Ideas are like assholes in that everyone has got one. It’s the ability to turn a formless expanse of ideas and hopes into a company that makes a product it’s customers like. It’s extremely hard to make something new. Harder than you can ever imagine if you haven’t tried it. So people who make a living out of making something from nothing have developed a set of heuristics that let us determine if someone outside our circle is capable of making “a thing” to prove their ideas can become reality.

We tend to overweight people that build tangible things. Even though many of the most crucial skills in business are the less quantifiable ones. We tend to overweight people that have demonstrated any kind of success in zero-to-one work even if what they want to build isn’t remotely related to what was done in the past. This is how despite most of my experience being in advertising tech and e-commerce I was backed to make cosmetics. People had faith that I could flip the bit from off to on.

While this may make it seem hopeless if you are currently not inside the system that’s not what I hope you take away. Startup people love watching newbies make the leap. I cannot overstate the fondness we have for someone gathering up the courage to spring into the unknown. I used to hate the phrase “I’m rooting for you” till I realized everyone actually did want me to succeed. They just rightly realized I needed to learn the hard lessons in my own time. They could give me all the advice in the world (and believe me they did) and sometimes I just needed to make the mistake in order to learn the lesson. The mistakes allowed me to succeed.

Of course, we always hope people will learn from our advice and not require the pain of a fucked up cap table or a growth plan that missed target because we burned our cash position down to three months runway. But most people that are genuinely good at startup work appreciate that only the person actually “doing it” can make the choices that lead to success.

So startup folks will always be excited to give back and encourage those that want to try “doing it” too. If I have a clear ask I find I get an answer from even the most successful and prestigious. Literally CEOs and world famous developers of entire languages will just email you back. It’s honestly miraculous. I have invested in cold emails. Championed them to my nearest and dearest. Because we believe that the process of making something from thing doesn’t exclude anyone. You just have to show someone that you will try to make your vision a reality.

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Chronicle

Day 52 and Circadian Rhythm

I have come to appreciate routines and rhythms. They have a place in anchoring our lives. I didn’t always feel this way. As a twenty-something I enjoyed novelty and varied schedules. As I’ve aged the wisdom of setting your body to nature’s clock has become my preference.

One crucial routine for me is walking or hiking for an hour a day. Getting outside in full view of the sun turns out to be crucial to my health and well being. It helps my sleep and keeps my energy steady. It’s a routine I didn’t keep when living in Manhattan as there was little nature to enjoy and even less sunlight. While I walked everywhere that was a transit decision more than an anchoring rhythm.

But the past two weeks have been completely shot routine wise for me as the polar vortex brought temperatures well below zero and then a series of snowstorms piled up the powder. Usually in Colorado the sun will melt off light snowfall within hours and the temperatures will climb into a pleasant place where you can be outside without layering up. Instead we’ve been Arctic cold with snow that is sticking around past it’s fluffy white powder phase.

The biggest impact has been on my sleep. Typically I am in bed by 9pm and try to stay off my phone. I’ll read and drift off to sleep. Without the sunlight resetting my circadian rhythms I’m letting the blue light of my phone tempt me into staying up “just a little bit later” till I find it’s past midnight. It’s not even doomscrolling. It’s just not winding down when my body normally does. Rather than falling asleep naturally I’m struggling to come down. So I talk myself into just reading one more article and then I’m sure I’ll be tired. Then another. And another. And well you get the picture.

This is beyond the help of hot tea and magnesium. Only sunlight and movement in the morning is going to reset me back. Thankfully it seems the Arctic air has passed. I’m tempted to take a double Ambien and force myself to sleep so I can restart the process in the morning with a good night sleep and a wander in the foothills. So on that note I’ll leave you to a good night as well.

Categories
Chronicle Finance Startups

Day 51 & Unwritten Rules of Startups

I’ve been shifting my working attention towards angel investing. As I talk with more founders, particularly those sent to me by my venture capitalist friends, I’m noticing how much bad advice is circulating in the discourse.

There has been a consistent trend of thought pieces and generalist advice in startup land that gets published by those that find attention helpful to their careers but don’t actually want the risk of sharing the unvarnished truth. Think TechCrunch thesis pieces and founder medium pieces. I’m guilty of engaging in it to a significant degree.

But it’s getting to the point where I feel bad that I’m not doing more to correct some of the bad advice or “true but not in your case” advice. It’s persistent and chronic and doing significant harm to certain communities of founders particularly those that are underrepresented. If you are a founder please DM me on Twitter or email me Julie dot Fredrickson at Gmail for further dish.

Founders regularly get terrible advice on fundraising metrics. Lower your CAC with blending channels (don’t please be honest about cost), you need to show faster growth so increase spend (growth is good but can kill you dead), organic growth is more appealing than marketing spend (it depends organic is hard to replicate and scales unevenly) and my personal favorite stack your MoM growth charts it looks sexier (so does a push-up bra but eventually you get seen naked).

Another area that gets weird is how much bad advice there is in fundraising process. You get told to drive FOMO and excitement but no one tells you just how much investors talk. Founders inadvertently tell white lies that are so transparent it’s the source of constant back channeling. There are so many cliques and power structures you don’t appreciate till you are more entrenched. Startup land lives for it’s petty feuds and rivalries. Be careful trying to play funds off each other as it’s rare for anyone to be fully blacklisted (though it happens) and you don’t know how close to partners may be or if they hate each other’s guts. Some folks look nicey-nice on Twitter but fucking loathe each other in reality. We’ve got cliques for female founders, gay founders, Christian founders, libertarians, fitness freaks, data geeks, retail hounds, SaaS sluts, and yes some of these are just fun to say. Be careful with back channels. You never know who may actually be crucial to your deal or a significant power player. Or who vouching for you can turn an entire deal around. Many of the most respected startup folks don’t maintain social media presence at all. So don’t be rude if you can’t judge how important someone is from their bio. They might tank your deal or get you tracked to a partner who writes a term sheet.

Be carful about optimizing your raise for specific outcomes like valuation or time. I know fundraising sucks but it’s also your job. You will have to do it again and it gets harder each round. You go with a higher valuation and you have to grow into that number. Are you sure you raised enough to hit the metrics? If not you get recapped next round. That only hurts your ownership and the VCs don’t really care. Are you trying to get it done fast so you can move on with your life? Lol guess what now you are stuck with that board member for a decade or till your startup dies. And a bad board can kill you dead. Or make you wish you were. The chances of you slowly sinking because your board has a toxic relationship with you is much bigger than the chance that you will grow so fast you always hit your metrics.

A big part of startup life is accepting that your ego does you more harm than good. This life will humble you. And generally everyone just wants founders to succeed. We want to help you avoid the mistakes we made. But not everything will apply to you. So don’t take every bit of advice or you will constantly be at the mercy of others. Context matters a lot.

But you must learn to listen and adjust your course or you may end up chasing metrics that don’t matter with a board you hate and a valuation that you can’t life grow into.