Tag: Capitalism

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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.

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Media

Day 1115 and Jangling

Trying to make a buck on the internet usually means knowing your audience. And knowing when your audience will pay.

I keep hitting paywalls on blogposts and I think folks really over estimate the value they deliver to readers. You want to sway my viewpoint to your side but instead you jingle your penny jar for a captured audience of seals. The audience capture that has to happen to make someone really take off requires some pandering. People like their echo chambers.

Because I myself am serious about persuading people to shared ideals it offends me when otherwise useful pro-social content that would drive forward the adoption of better information is needlessly cut off for a “below the fold” $60 a year subscription that is thrice what I pay for Vogue.

If you are selling useful actionable services that make other people better in some measurable way it’s not too hard to close a fair deal on the internet. There are lots of businesses with lots of valid marketing funnels.

But if you are trying to persuade people to an ideal or some truth that you believe must be shared I beseech you to share it widely. We humans operate such fragile nodes of coordination. We must actively work to align people to causes. Propaganda and self interests can only win out over aligned incentives if we give our attention the loudest bidder. Don’t contribute to an information environment like that.

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Emotional Work

Day 1113 and Sorry Can’t

I dislike days where I spend too much of my energy doing stuff as it prevents me from spending time synthesizing stuff.

Of course, and I hope this is obvious, the opposite problem is much worse. If you spend too much time synthesizing stuff then you run the risk that you don’t actually do stuff.

You’ve got to keep your skills sharp with new conditions on the ground but you have to intake as much information in your field as possible.

“Sorry I can’t” is a strong signal. It means you are engaged in the productive middle of focus. Family is a productive middle of focus. Your business is a productive middle of focus. Your friends is a productive middle focus.

Maybe you picked something to focus on that someone powerful wishes you didn’t. Maybe you sold your focus to someone else. Maybe you are on the clock to a wider goal. The calculation of how we do that is best left to market forces in my opinion.

I will redirect my attention for someone that asks and shows me the incentives. I think it’s a worthwhile balance. If I believe my focus being redirected can help someone else execute on taking action I’ll do so. That usually means saying to someone else “sorry I can’t”

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Media Startups

Day 1110 and Somatic

I’m upset. I feel it in my body. Soma apparently means “body” in Latin, somatic is “of the body” so to have a response in your body is a somatic response. I’m having a somatic response.

I’ve been surprised at the emotional campaigns that have been waged against technology in the general, and artificial intelligence in the specific, as of late. But I am starting to feel the emotional weight of the collective fear and emotion in my own body. Futureshock is here and the fear mongers are here to tell you and I that we should be afraid.

This weekend there was op-ed was published in IEEE entitled “Open Source Artificial Intelligence is Uniquely Dangerous.”

The o-ed was written by David Evan Harris who is a chancellor’s public scholar at UC Berkeley. He used to work a Meta on ethical AI. Now this not the opinion of IEEE which is calls itself “the world’s largest technical professional organization dedicated to advancing technology for the benefit of humanity.”

You’d think that sort of mission would be a little more on board with new technologies. But maybe David is just an extreme voice. Op-Ed’s are meant to represent a variety of opinions after all.

But how should I feel about the benefits of technology when it’s presented to me like this? They used a skull to really get across the visceral fear. No friendly face to make a concession to our silly human anthropomorphic desires. Let’s scare the stupid hairless apes.

Don’t worry the government and regulations will save us from this psychedelic skull

I have an inherent skepticism when someone wants to sell me on the dangers of regular people having access to something new and potentially transformative. Why must we always default to the precautionary principle? Why is fear always our default?

I don’t want to let this sort of thing get to me. But I can see the narrative campaign being waged against artificial intelligence and the sheer volume and tenor of coverage leads me to believe that everyone is aware of its potential.

Claiming artificial intelligence is only for the knowledgeable few chosen by committee of expert sounds so sensible. But I think my body knows better. I should be upset by this.

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Emotional Work

Day 1105 and Other Writing

For as much fluidity as my daily writing habit has achieved, I can still get caught up in a synopsis. I have relieved any pressure to make a daily dispatch (which took some effort) but a quarterly or yearly one can get me to glitch. I like to add more information to my modeling like any self respecting nerd. As much as information integration looks effortless it is actually a laborious process. I read tens of thousands of words every single day.

Now I do work from a strategy. Which means I only adjust my tactics on a weekly or quarterly basis. And I will not be sped up on assessing the character of individuals or the caliber of their ideas if I can help it. When I need to move fast I have to do it within the guardrails of what I believe to be right.

And it’s important to remember that heuristics some heuristics don’t need regular updating. Moral codes shouldn’t need much updating. Maybe you believed the wrong layer of abstraction and have to change your priors to align with your moral code. That’s totally fine.

But you shouldn’t be changing around your code of ethics. That’s how you get criminals. Arbitrage is never permanent. Criminals can have a stronger moral compass than business people or religious institutions. This fucks with everyone. I cannot account for all sinners nor most demands for purity. I can however hold myself to my own standards and so should you.

I do what I can to telegraph my own belief systems and where I derived them. There are lots of signifiers I leave in my wake. I am a Christian. I am a capitalist. I am a Protestant. I believe in markets and judicial review. I believe some things are beyond market but all things are subject to forces beyond our control. That’s how I ended up picking Calvinism as a sect but it’s pretty niche.

I’ve believe luck is just opportunity meeting preparation and you can do a lot to increase opportunities and even more to increase preparation. I don’t like rentiers but I do like the bourgeoisie. Property rights are good and regulations are only as good as the people that make them. That’s why we I’d prefer we have fewer laws. We must act deference to our own failings as human but never so much that it harms our capacity to organize.

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Culture Media

Day 1102 and Culture Matters

They say you shouldn’t talk yourself out of success. “You don’t know until you try” is the mantra of mothers, personal trainers and enthusiastic internet friends.

“Don’t negotiate against yourself.” People fumble their own ball all the time. Watching men strike out with women is practically an entire genre of social media. Confidence is key and reality might reward you more than you would be inclined to reward yourself. Go for the girl!

But I don’t think I realized we could talk an entire culture out of success until recently. Which is on me. I’m well versed in propaganda and media, so I should have had the priors for this intuition but it didn’t seem so clear to me until recently that humans were being talked into failure to launch.

This article in the Financial Times asks if the West is talking itself into decline. And it’s a bit bleak.

Another interesting theory is that of economic historian Joel Mokyr, who argues in his 2016 book A Culture of Growth that it was broader cultural change that laid the groundwork for the industrial revolution. Prominent British thinkers including Francis Bacon and Isaac Newton championed a progress-oriented view of the world, centred on the idea that science and experimentation were key to increasing human wellbeing

Is the west talking itself into decline?

It seems that there is now an interesting new overview that gives us some proof of what was being said across different narratives in different cultures. Mokyr’s theories being proven out by economic historians is encouraging for a few reasons. The British has a much more progress and technical oriented literature than the Spanish and got to the Industrial Revolution faster despite the Spanish lead on colonial mercantilism.

So what can we take away from this bit of economic history? The West has begun shifting its language away from technology and progress and back into caution, worry and threat.

Is the west talking itself into decline

If we can simply improve on our situation by believing we can advance, improve, and progress then we should spend all of our time talking about the possible better futures.

I wasn’t allowed much television as a child but my mother believed in Gene Roddenberry’s positive future. Wasn’t it a delight that the best of humanity was seeking out new life and new civilizations? Let’s try not to get too fixated on the failures to imagine perfect futures to remember that we aspired to good futures. No don’t let good be the enemy of perfect and get out there and make something.

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Internet Culture

Day 1098 and We’re Back

I wish I hadn’t had insomnia last night as clearly ever came back to work today. It was electric in the hive minds of Twitter today. I am revisiting all kinds of priors as the timelines of different subcultures return back online.

I don’t know if anything I saw will stick but it’s clear that influencing public opinion is on everyone’s agenda. Elon Musk may have absolutely no zero intuition for how his narratives will play and maybe he doesn’t care.

I don’t think he means ill for what is still the only really unsupervised place for elite opinion influence and people are running wild with it. I’m almost sympathetic to Russian troll farms. It’s got to require enormous compute to keep on top of billions of malleable propaganda ready minds.

WhatsApp having trouble with “gm” tweets overloading the application has to be an urban legend but you can almost see it being true. Can you imagine every timeline across every cosmopolitan center pinging online and interacting with all the pieces of content that came before it? It’s a glorious perpetual process and I need to step off the wheel to rest. But I’m glad we are so back.

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Startups

Day 1091 and Do What You Love

I am feeling relaxed. This feeling has eluded me for nearly a week as the race to Christmas holidays left me mostly feeling sick and in pain.

I was getting tension headaches from the long hours and stress of the last two months of work. In an attempt to improve my muscular skeletal compensatory issues, I triggered a “this gets worse before it gets better” healing crisis. While my C1 and C2 upper spine feels much better, every other connected system was also contorted to accommodate the problem. It’s a bit of an adjustment.

But I slept a solid ten hours last night and I managed to get several naps in the past few days. By the time I made it to my first working session today after Christmas, I was ready to enjoy my work again. There is no finer pleasure to be found in startup life than a team you enjoy working with.

I am lucky that I do what I love. It doesn’t feel much like work to help founders you admire take action. The limber approach of answering to your best judgement is a joy. A startup dynamic that’s productive can feel as if you are intaking information and updating your prior working models at a rapid clip. And if you are lucky see results from your actions. It’s invigorating

I hope I feel a bit better and more rested as the week rolls on as I’d like to do a 2023 roundup but my priorities remain the work and my health so what gets done will be ordered as such. I hope everyone has work that engages them thusly.

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Community

Day 1085 and Openness

I make a living pricing risk. I do that through investment but also a few highly specialized skills I deploy on behalf of founders of startups.

The shortest articulation is that I am very good at spotting subcultures and helping them come into the mainstream and find a market that will pay them.

Not all markets are liquid and lots of arbitrage happens between types of capital. Sometimes a culture doesn’t survive contact with the mainstream. Sometimes that’s not a bad thing if the culture can’t self police.

There have been three core subcultures that make up my world and have been core to the history of the American west. Hippies, hackers and hipsters. I contain bits of each. I made an early career in prestige industries like media, fashion, and cosmetics (hipster) but I was born into a Silicon Valley family (hackers) and raised by a counterculture mother (hippies).

I’ve got that particular syncretic experience that so typifies “Grey Tribe” as our values have often been at odds with institutional power but we are perfectly fine with wider coordination mechanisms being chosen at different levels of abstraction. This is fancy speak for we like markets but don’t seek them for every problem as trust is a personal choice.

I am feeling as if the openness of my tribes is under attack because signaling mechanisms are breaking down. Seeing bad behavior is always upsetting. Lots of groups are seeing enemies on all sides and sociopaths seeking power. It’s a bit depressing. All of the nodes of our network need to do a better job at signaling that some risks are unacceptable. You need to maintain openness but not so open your capacity to judge risk is affected.

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Emotional Work

Day 1079 and Flowing

I try to direct my attention to where I have natural advantages. I’m sure you’ve seen variations on the theory that if you are gifted with a talent then honing those talents with hard work is the rational path.

If you are a 5/10 perhaps you can’t reach beyond 7 of 10 with effort, but if you are a 7 you can probably put in the effort to be an 8 or 9 and achieve great things.

I don’t mean this as an argument for not putting in the hard work to improve where you lack talent, but rather that hard work can compound for even greater rewards when applied to your talents.

No one ever enjoys being bad at anything, but it’s worth remembering that aptitude can and ought to be honed. I don’t always love seeing the areas of my life where I suck. I was in the past very inclined to beat myself up over it. That is the path to not improving anywhere in your life.