Tag: Capitalism

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Politics Travel

Day 1170 and The Machine

I hate failing. The sense of doomed futility I have when I interact with the broken bits of the American bureaucracy weighs on me. Every time a crucial piece of the business of government fails I feel helpless. Like I am a loser.

I feel deeply that the machine has ground out some remaining spark of hope in me.

“It’s the hope that kills you”

Phrase Ted Lasso ain’t too crazy about

I spent some time today feel like it was the hope thar kills me. I felt it deeply.

But I couldn’t wallow in it. Being made victim to a system is awful but I am not a victim.

Some time passed and I reminded myself that while I can accept finite disappointment, I can never accept losing the grace of an infinite capacity for hope.

“I think it’s the lack of hope that comes and gets you. … See, I believe in hope. I believe in belief.”

Ted Lasso

I’ve written a lot about how broken the process of coming to America especially when you try to do so legally and transparently. It’s a challenge to get even basic travel documents like tourist visas.

I see cases on socially media daily of award winners, brilliant engineers, academics, and simple good faith aspirants who wish to spend time with the American dream and are denied.

I have hope that we can recognize that tourists, students, entrepreneurs and others that genuinely wish to contribute to our nation deserve an efficient transparent system that lets people come to America.

It should be unacceptable that these systems are unaccountable and impossible to navigate. It shouldn’t feel like we are living within a Kafka novel when getting a visa. This is America not the Soviet eastern block.

I believe that the network state is coming for badly run governments. But it cannot come soon enough. It may sound dramatic but consider that venal, impossible to navigate and expensive government serves none of us and harms the markets, businesses and people. It’s an embarrassment to our national character.

The longer we tolerate these state of affairs the closer we edge to anarcho-tyranny. When the government and help you but it can hurt you. We should be ashamed as Americans that we let this monstrous machine do us so much harm.

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Startups

Day 1163 and Women in Tech

A lot of emotional energy has been directed at the “problem” of “women in technology” in the last decade or two. Stupid campaigns get run with degrees of condescension in which it’s insinuated the only way women could see the value in crypto is if we make a perfume. It’s the rankest form of sexism and extremely effective. And I’ve proudly worked in cosmetics. Chemistry is cool.

So today on International Women’s Day I’d like to remind myself that I’ve l been “in tech” since the moment I fell in love with a personal computer as a young teen. I’m on that edge of elder millennial that did things in the real world as children but had access to the virtual early.

Plenty of men mistakenly assume that because I worked in fashion, beauty and ecommerce. I was early before the ease of hosted Shopify accounts or even Heroku instances for an app. It was a lot more roll your own.

And yet some think my experience doesn’t count. Despite it being a clearly sign of capital markets having underpricing occasionally. Ifs a good thing. You go where market rewards you and you learn to learn skills along the way.

I think so much less about my gender now. Almost resent ever having been talked into it. You do it right then you, like an anyone else in the market, can benefit when someone misallocates.

If you are lucky enough to steward your own capital, then get to be part of the investor bases to build the next generation. I do that now. I am still a woman.

I’m proud to use the resources I have to invest in what I believe in based on my experiences and the thesis I invest under. Not as some smoothed over marketing narrative with a gender hook. No I price like an actor you can do business with. I am willing to show my revealed preference.

I learned in previous eras so I may serve the generation that is coming up. And I’m happy to invest in the ares I believe in most. I am happy as a woman to invest in men as I am in women.

The focus I see in founders I have invested in across energy, artificial intelligence and crypto are ones I believe in. I believe in them as people. I believe in them as founders. I believe in them as men.

I am lucky to be seen as an individual with capital and insights that can help them carry a better future forward. I hope all founders are seen as individuals.

Technology innovation has been the driver of improved human life. Material prosperity is good for women. It’s good for men. So I’ll celebrate doing stuff for the boys on international women’s day.

Alex Miller visiting with me at one of our favorite portfolio company Valar Atomics. I believe in Isiah and his team.
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Finance Media

Day 1157 and Maybe Things Are Good

I remember learning about economic malaise, inflation and oil wars in the seventies at school.

The grand narrative I was raised on was that deregulation led to the go-go eighties as Reagan leaned into free markets as the mood of America changed.

I’ve read a lot of takes in the financial news and on Twitter that suggest we are in a similar period. I tend to land more towards Kyla Scanlan’s position that the Vibecession may be over. And yet we cannot agree on if things are getting any better. We are confused.

So we have this number that no one knows where it’s coming from, yet we are using it to make informed decisions on headline text which informs what is happening in the economy – but also informs how people should feel about what is happening in the economy. No wonder the sentiment is off! No wonder people are confused! It’s hard to understand what’s happening, and that makes all of this so much harder

Kyla Scanlon “Why We Don’t Trust Each Other Anymore” on Epsilon Theory.

I’ve got lots of reason to be optimistic. I see the shock and confusion and culture wars and I still see people who are optimistic.

I’ve taken to joking around about decisions by saying “fuck it, e/acc!” I am extremely online and it’s a contagious cultural meme to root for the future. And so maybe things are getting better.

There is a same shit different day quality to the long now. But I see more and more people committing to build things. Gold rushes are a patten humanity seems to follow at every changing of the generations. Maybe we’ve got reason to think we can come out of this moment better. Or at least work to make it so.

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Community Finance Travel

Day 1155 and On The Ground

It’s come as a bit of surprise to me that I’ve done so much on the ground work in the last two years. Not so long ago I was basically bed ridden and stuck inside for the extended run of the Pandemic. Now I spend half my time on the road again.

Once I was settled comfortably on our homestead in Montana and had an acceptable level of resiliency planning done, I hit the road to pursue my particular brand of weirdo off the beaten path ground work investing.

I cultivate movements, memes, degenerates, eccentrics and engineers. I’ve made many trips to far flung corners of the European continent including extended stays in the Baltics and the Balkans.

You have to experience problems first hand if you are serious about investing in the people whose ideas can have a large enough impact at country, continental or global scale. It’s easy to be bamboozled at the edges so it’s best to be clear eyed about human nature and how technology can improve or harm a given incentive set.

It’s my hope that I’ll put in some face time in other interesting geographically interesting regional hubs. I’ve got Argentina on my agenda but I’ll likely make trips to the Middle East and Singapore as well. If you are in an interesting hub with a desire to pursue ambitious ideas let me know. Maybe I’ll swing by and we can meet.

The emerging network states of culture, affinity and intellect are far flung. The type of free market capitalism preferring decentralized resiliency minded crypto- libertarians are welcomed in as many corners as we are shunned. Either way you will find me on the ground looking for ways to make our incentives improve upon our human natures

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Finance Startups

Day 1147 and Balkan Crypto

I’m in the Balkans for a few weeks doing some scouting and visiting with friends and colleagues. The western Balkans including Albania, Croatia, Bosnia and Herzegovina, Bulgaria, Serbia and Montenegro are known for their occasionally colorful participation in cryptocurrencies.

The region has experienced currency volatility, struggles with central banking and even in Albania a civil war stemming from a financial crisis over government Ponzi schemes.

These negative experience with currency instability, government corruption and sociopolitical unrest has led to a desire to experiment with transparency and decentralization amongst the region’s youth.

The ecosystem is host to serious projects has a talented base of engineers. Ripple is experimenting with a national stable coin in Montenegro. Zuzalu, the two-month invite-only gathering that Ethereum blockchain co-founder Vitalik Buterin led in Montenegro has been a regional hub. And it has inspired a new grants program Zu- villages that strikes me as a cross between network state and a DAO with Gitcoin.

In an editorial in Bitcoin Magazine the founder of the Belgrade Bitcoin Hub summed up the “why”

As a result of years of unfulfilled promises from regional politicians, people of the Balkans are hard to convince about the long-term benefits that can be realized by adopting Bitcoin in one’s life. A low time preference way of life to most people in this region is associated with disappointment and the lowered standards of living that have happened many times before.

Plumski founder of the Belgrade Bitcoin Hub.

Categories
Community Startups

Day 1145 and Vitality

The most gratifying part of early stage startup investing is the vitality. When you are in the mindset of optimism, all things are possible.

I first met Isaiah Taylor about a year ago. We found each other on Twitter. I cold DM’s him with “you seem interesting.” We’d hop on the phone and go through what he was working on in long strategy talks.

I think in our first conversation we spent half an hour just discussing origin stories. We’d both had strongly American west families and we were neighbors in the upper Rocky Mountains. We shared a Christian faith. I liked his style.

Those early rambling sessions when a founder is discovering their market and their unique talents is a precious time. I knew I wanted to invest in him long before Valar Atomics had come into focus.

Ambition and vision are honed over time as you broaden your horizons. It’s the most fascinating tension. The bigger you dream the more you must see your path clearly and pursue it relentlessly. Vitality begins with knowing where to apply your will.

I feel the optimism that Isiah has brought. And I admire how he has taken it to a bigger community. Watching the El Segundo community self-mythologize in real time during this weekend hackathon has been an exercise in collective application of will. Like its cousin in techno-optimism e/acc , the American dynamism “new vitalism” egregore values building for the future.

@ADoricko and @isaiah_p_taylor opening up the Gundo Defense Tech Hackathon via Rasmus

Categories
Aesthetics Internet Culture Politics

Day 1142 and Come See The Violence Inherent in the System

While parked in gridlock caused by the American state department delegation snarling traffic in Tirana, I shared a classic British comedic sketch from Monty Python’s The Holy Grail with a friend who resides part time in the Balkans.

King Arthur is riding through his lands and is asked to contemplate anarcho-syndicalism and the constitutional arrangement most equitable to an offended peasant named Dennis.

Help! Help! I’m being repressed

Monty Python and the Holy Grail

Feeling moderately repressed ourselves by the various bureaucrats, politicians, and general institutional disarrays that was in our way, the joke hit home. No matter your station in life, we are all a repressed in someone else’s system.

We can make jokes about staying above the API layer all we like, but the nudging organizational state is finding ways to reduce us to variables. Many of us have become spreadsheet brained. Will it be a gradient descent into the madness of a jackbooted local minima?

Perhaps it better to become the disassociating trader acted by Paul Bettany in Margin Call who simply can’t stomach that level of hypocrisy. He knows we want to play innocent about the violence hidden underneath the abstractions.

“Listen, if you really wanna do this with your life you have to believe you’re necessary and you are. People wanna live like this in their cars and big fuckin’ houses they can’t even pay for, then you’re necessary. The only reason that they all get to continue living like kings is cause we got our fingers on the scales in their favor. I take my hand off and then the whole world gets really fuckin’ fair really fuckin’ quickly and nobody actually wants that. They say they do but they don’t. They want what we have to give them but they also wanna, you know, play innocent and pretend they have no idea where it came from. Well, thats more hypocrisy than I’m willing to swallow, so fuck em. Fuck normal peopl

Will Emerson (Paul Bettany) Margin Call

We are all experiencing some level of abstraction from the base layers of reality. Some of us are more academic about it. Some of us are simply more or less unwilling to accept the hypocrisy of it. None of us can opt out completely. Plenty of professions let you get closer to the visceral base reality and then you too can see the violent inherent in the system.

And so we argued over resources and raw power. How abstract can we get? The paleoconomists say “go back to the gold standard” but we can’t. Can we go forward though?

Most of us see that entirely detaching the exchange value of goods from material items and their underlying value is a huge struggle for most people. We wouldn’t have endless discussions about the cost of groceries if it was clear to folks how the market priced physical goods.

Financial markets are fictions where we negotiate material needs like food, shelter, clean water, bodily integrity, and property ownership claims. All need to be priced in. It isn’t fun when the exchange value mechanism completely detaches from that reality. It makes us uneasy. Shrinkflation makes humans feel gaslit.

Humans are physical beings who abstracted our physical needs into an elaborate market system of exchange values. And like that Monty Python sketch, sure it’s a fun joke, a meme if you prefer, but that meme is a reminder to see the violence inherent in the system.

Anyways, I hope Antony Blinken enjoyed his time in Albania and that everyone has a productive weekend in Munich for the neutral ground security conference. Our diplomats have never needed a neutral ground weekend more amirite? The financial engineers will concede that reality. Maybe.

Categories
Aesthetics Internet Culture

Day 1141 and Blind Optimism

The specifics of it aren’t important, the fact of the matter is that it’s been “one thing after another” for me. I bet you know the feeling.

I felt grateful be enjoying a lower friction global homo cosmopolitanism for the night. I need something be smooth brained for a little bit.

I got middle rent generic Mediterranean street food delivered through an intermediated mobile app for dinner. And then I turned on Netflix to settle in for the most middle brow content. There is another season of Love is Blind.

I am a sucker for this show. There is something so optimistic about a blind dating marriage reality show. If you had been doom and gloom for so long imagine opening up all post-pandemic with your shiny therapy emotional journeys.

It strikes me as a pop culture cousin to effective accelerationists. Nothing says accelerate quite like committing. Marriage markets would be very e/acc.

If I have to keep living I may as well do it with the hopeful optimism of someone who throws themselves into their future. All in. I really admire the optimism.

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Travel

Day 1140 and Gridlock

I got myself stuck in downtown city gridlock today. Abs boy am I glad I rarely have to navigate the kind of bumper to bumper traffic of an overbuilt city without a grid. It is no picnic.

There is a category of city that has little in the way of urban planning. They may have legacy of a time with much fewer cars when only a small portion of the citizens could afford to drive.

As cosmopolitan creative classes become wealthier they too want to be able to drive in their city. The money pours in to invest in newer developments and more modern amenities get built. But they never really solve the lack of a grid or roads built for driving.

A lack of proper investment in public transportation only compounds the issue.

Attempting to criss-cross a mess of cars, motorbikes, scooters, and couriers all competing against each other with few clear routes is a slog. I hope I don’t have to repeat it again but I fear this is a permanent feature of some cities.

Categories
Startups

Day 1125 and Planting Seeds

I like to get to know founders over time. It’s a canonical piece of advice passed down over venture lore that one should invest in lines not dots. Consider the messenger of course.

I’m sure to founders it can feel a bit self serving of investors to want to see a lot of traction before a commitment. That’s not what I’m talking about. I think as an investor, we have an obligation get to know a founder’s character and their approach to problem solving. Especially if you believe their opportunity to be enormous.

At the earliest stage our responsibility is to assess your capacity to overcome obstacles and to improve your skill sets to match. We need to know you will grow and flourish.

Nurturing a seed is the entire metaphor behind early stage investing. A seed round is such an optimistic name. If we must extend the metaphor that we are planting seeds then the work starts before anything goes in the ground. Good soil, good weather conditions, and the right timing matter a lot.

The anxiety inducing part of this is that my approach years I take time to cultivate potential founders for years. I never quite know when someone will go up for a fundraise. I have to wait and see.

But when it does happen. It’s such a miracle. No finer feeling in the world than having cultivated the right conditions for something to grow.