Categories
Emotional Work Finance

Day 683 and Goverance

I’m not a big fan of early stage venture investors meddling too much in the day to day of their portfolio companies. Asking for too much reporting and too frequent board meetings can be a huge source of momentum friction.

But I am a big fan of corporate governance. Even right from the very start. You should have agreed upon avenues for settling issues and disputes from the moment you have assets bigger than an Ikea couch let alone a 32 billion dollar valuation company. A lack of governance structures can lead to deeply destructive behavior even if you aren’t a sociopathic rich kid bent on committing fraud.

As much as it may seem irritating to set up formalities like a full board and agreed upon voting rights structures, you will regret not having it if something goes wrong. And something will go wrong. I’d go so far as to say Murphy’s law is an immutable law of the universe. What can go wrong will go wrong.

The intense pressure of a startup is what turns the lump of coal that is your vision into the diamond that will be worth something in the open market. And pressure is often destructive. People who otherwise respect and trust each other can slowly find themselves deeply at odds.

Just think of your worst breakup and imagine that intensity playing out in ways that impact everything you’ve worked to build. If you’ve ever gone through a divorce I’m sure you understand. Let me tell you a little story about one of my breakups to illustrate why you should set up governance right form the start.

My easiest personal breakup was also one of my worst. We’d moved in together and devised an elaborate set of budgets and savings protocols. We’d combined belongings. We even set up a shared bank account. He was a corporate governance lawyer at a very aggressive firm. I was working a lucrative corporate job but preparing to go back to startups.

While he wasn’t a contract lawyer, he did have enough common sense to suggest we write up a relationship contract complete with dissolution protocols. I thought this was absolutely brilliant which I’m sure tells you a lot about how I operate. Absolutely all of our friends thought we were nuts. Including a colleague and friend who would go on to be one of my board members down the road.

I was in Colorado for my mother’s wedding. I’d expected my boyfriend to join me. But we’d been discovering that all our good faith attempts to arrange the perfect relationship structure was nothing in the face of widely disparate personalities and risk tolerance. No amount of mitigating structure could overcome those differences.

When I came home he’d triggered our breakup clauses and moved out. Everything was done by the governance protocols we’d set out. If I’m absolutely honest I was relieved. My biggest annoyance was losing the Vitamix blender that was his property. As furious and heartbroken as I was at the time, I didn’t have any avenue to engage in my worst most defensive reactionary emotions. Neither did he. Which was extremely valuable as I hadn’t at age 26 gone through the therapy that helps me productively channel negative emotions now.

My ex-boyfriend and I are still friends to this day. Sure it took a few years for us to come around but we’d avoided a scorched earth situation despite the significant risks we’d engaged in by moving in and combining our lives and fortunes after a relatively a brief period. The damage was mitigated by a shared understanding of how we’d manage downside protection and whose rules we’d consider binding.

While I’m sure this sounds a bit weird, I do think it’s a helpful illustration of why even the most optimistic scenarios benefit from guardrails and mutually agreed upon avenues for pursuing a dissolution or change in status.

No matter how calm and rational you think you are, there will be scenarios that trigger deep emotional patterns. If you vomit up those childhood coping mechanism emotions, you need to clean it up even if it feels shameful and embarrassing.

I’d also say it probably tells you a lot that I’m telling you a deeply personal story about a breakup in a personal relationship and not my actual board experiences. There are some secrets you take to the grave and how you failed your business partners tends to be one of them. How they failed you is another. I’ve had reason to be grateful for corporate governance guardrails at all of my companies. Because that is human nature.

So no matter how early it is in your startup journey you should be considering how you’d handle tough times. Set up a board to help you work through and arbitrate disputes. I know you cannot imagine it now but you won’t regret it.

No one is ever fully immune from disagreement (or even disaster) and you owe it to yourself and your partners to set up fair resolution issues from the start. Plus if you happen to have partnered with a sociopath you will appreciate the modicum of protection offered by binding contract law or consensus mechanism contract execution. And if you really want a Vitamix make sure you put that in the contract.

Categories
Emotional Work Finance

Day 680 and History Repeating

I found myself crying my eyes out to my therapist this morning. Just full on sobbing. Nothing bad actually even happened to me during this week’s chaos. In fact, I’ve spent the last year or so preparing Alex and I for a downturn. I wouldn’t be much of a doomer if I didn’t swing into this downturn prepared.

It just all felt too familiar. It felt like the worst days of fear and insecurities from my childhood playing out all over again. My family went bankrupt during the great Web 1 unraveling. And I’ve never forgotten it’s lessons.

I remember feeling like I was in a secure situation and then learning in dramatic fashion that it was all gone. That all the hopes, dreams and aspirations that my father had done so much to prepare me to reach for (including a lot of very expensive colleges) would likely be out of reach. We’d be starting from scratch again. I hadn’t really had a lot of time to enjoy being a poor little rich girl. It was over too fast.

My father is a truly entrepreneurial man. When I was born the family lore is that he was pitching a edtech company. We were a startup family. We lived in Fremont which is (was) the shitty poor town. I suspect it was a lot harder than I even remember.

But dad found a way to realize his Silicon Valley dreams. He brought software to millions of people. He really did do the thing. And for a few years during the boom times it felt like we might be wealthy forever.

But finance is tricky. Lock ups can fuck you up. So can leverage. We had both. And then of course regular old fraud happens too. Yay.

But it wasn’t in vain. I learned those lessons well. I swing big and I bet on the future like my dad. I believe in people and in genius. But I also keep a balanced portfolio and back up plans.

I believe in exponential growth. But I also believe in the cost of capital. Sometimes money is cheap. Too cheap. And you need to prepare for when capital is expensive again. Because the laws of physics tell us that energy cannot be created or destroyed. And until someone smarter than me proves the laws of thermodynamics wrong, I will operate based on them.

And I am ready for the dark days. Both because it is literally November but also because I believe we’ve got chaos ahead. And if I’ve learned one thing from my childhood it is that you can survive it. It just takes a little bit of preparation. Which I’ve done. Everything else is just a case of history repeating.

Categories
Aesthetics Politics Preparedness

Day 679 and That Escalated Quickly

My week started out great. I was focused, energetic and on my game. And well, I think we all know how the last 72 hours have played out. Chaotic as hell.

Twitter is having a meltdown. Crypto keeps discovering how badly centralized over levered balance sheets can go. Fuck you very much Sam Bankman Fried for setting back the cause. Really the only bright spot is America’s swift decline into a regressive reactionary right wing state is in its entropy and reversion to the mean phase. Guess no one felt like rewarding Republicans even though we all kind of hate Joe Biden.

And lest you think I’m happily sitting pretty having mostly predicted we’d be entering a newly chaotic age, I woke up this morning covered in hives. That haircut I was so excited about yesterday? Turns out I was allergic to all the styling products.

And because we had some as yet unresolved issue with our well pump, I couldn’t even shower it off immediately. I woke up to the water being out. Neat. Thankfully a hacky solution got me a hot shower before noon to rinse off all the itch inducing salon products. I might still be a little high from all the Benadryl

The funniest part is I knew I might have some trouble with products at the hair salon. I just didn’t want to be that white lady that comes in with all her own products and a sob story about allergens.

I thought how bad can it be if I just let the stylist use the salon products? And boy do I regret that. Let that be a lesson to everyone to always take up the space and resources you need to stay healthy. It may be cringe as fuck to explain an allergy but you know what is even more cringe? Giving yourself hives and Benadryl brain because you didn’t have the energy to be a little bit of an asshole and insist on protecting yourself.

Categories
Finance Internet Culture

Day 678 and Winging It

I went for a haircut today. I’d been riding a haircut since May so it was a little embarrassing. I’d let it go from princess to dirty hippie.

Joking with the hairstylist a bit about being a bit weird we ended up commiserating over how much we enjoyed Twitter. She agreed that Twitter always felt like it was more real. Like people let it all hang out. And recently we all collectively realized that everyone is just winging it.

Nevertheless it can still be kind of a shock when it goes from “oh anyone can become one someone with hard work” to “oh fuck everyone is a fraud.”

I am I’ll admit a little shook about Sam Bankman Fried. I’ve got minimal exposure but I have interests that have been funded by funds that do. And that is really distressing to me. It always feels like at the center of the bullshit in this industry lurks some traditional finance fuckers not doing their math. And I do admit that chaps my ass. Sets us all back.

I do think plenty of the world is just winging it with a good faith and open heart. But for the sliver of sociopaths who know enough about governance and fiduciary duty and still decides that nah I’ll mix up some assets and ownership. Fuck you that’s regular old fraud and it sucks.

And what’s worse is you bring this on to our house. The people who do want to build a Plan B and who sincerely believe that a fairer more open accessible financial system is a global good. The people with shitty passports and communist governments actually need access but go ahead and you do some light self dealing. This isn’t important enough to you. Cool. Whatever. Nothing was riding on this.

Categories
Preparedness

Day 677 and Bad Moon Rising

I got woken up at around 430am this morning by my husband. Now he typically wakes up earlier than me but rarely does he rise before 5am. He got out of bed and I heard one of our doors opening. A few minutes later he was back in bed and I drifted back to sleep.

It turns out he was getting up to see if the lunar eclipse was visible. Much of Southwest Montana got blanketed in a significant snowstorm, so alas cloud cover prevented him from glimpsing the eclipse with the naked eye. The blood moon was hidden behind a white out.

The eclipse was soon forgotten in the excitement of the storm. The snow was so powder fine we immediately suited up to do the adult version of playing outside. We had our first opportunity to hook up the snow blower attachment to our tractor to plow out our very long drive away. I took dozens of videos and Alex absolutely wrecked me by blowing a bunch of snow at me. We captured the comedy on the security camera and it made for a good laugh.

But the day unraveled almost immediately. The blood moon began to feel a bit like a bad moon rising. News of crypto exchange FTX getting “acquired” by Binance after 48 hours of sniping between CZ and Sam Bankman Fried. It’s a complicated story but it basically amounts to a bank run. Crypto was having a JP Morgan moment that appeared to have been manifested as some kind of grudge match on Twitter. The financial markets largely seemed like they didn’t care.

But crypto isn’t even the big story of the day. It’s Election Day in America where the midterms have been hyped up into an existential crisis. Which seems like a stupid thing to do when you are bound to lose just based on past election history (the party is in power tends to lose the midterms) but whatever everything in American life is existential now.

I’ve been on a doomer beat for sometime. Not that I think everything is necessarily getting worse but rather a series of macro level trends are headed in the wrong direction. I’d like to continue to live a nice life. I see the bad moon rising. And I made a set of life choices to get my family to Montana. I’ve got a serious of predictions about what it might take to thrive in harder times. And I’d be lying if I said I didn’t feel a little bit smug about having beat the rush. So stay strapped out there my friends.

Categories
Aesthetics

Day 666 and Mark Of the Bedeviled

Signs, signifiers and semiotics are a pastime and also a professional obligation, so naturally I’m excited to have arrived at day six hundred and sixty six (666) of writing every single day.

While I’d like to think it’s been a positive experience, shadow work tells me a little bit of the devil is as surely responsible as my better angels for this project. So I might as well mark the occasion.

While I enjoy a wide range of woo woo pastimes (white girls love Tarot) I cannot say that end times Biblical fire and brimstone is my jam. But I presume just about everyone in America is vaguely aware of 666 as a signifier for end times Book of Revelations full on evil. 666 is the mark of the beast.

Here is wisdom. Let him that hath understanding count the number of the beast: for it is the number of a man; and his number is Six hundred threescore and six.

Revelations 13:18 King James Version

I’m not much for millenarian prophesies, despite being a card carrying doomer, so I can’t really interpret why the Mark of the Beast means diddly squat. Even though I enjoy a Ronald Emmerich piece of disaster porn, I cannot claim to have done more than skim the Book of Revelations. I once spent an entire quarter reading the Old Testament in Aramaic which is surely enough to put even ardent scholars off their Bible study for a bit.

But I have been revisiting Yeats’ Second Coming lately so perhaps I’ve been exposed to the general energy of revelations. Ben Hunt of Epison Theory has written most eloquently about the Widening Gyre of moment. Anxieties and disagreements have frozen some of us and unleashed the worst passions in others. It feels right for the moment.

Turning and turning in the widening gyre   

The falcon cannot hear the falconer;

Things fall apart; the centre cannot hold;

Mere anarchy is loosed upon the world,

The blood-dimmed tide is loosed, and everywhere   

The ceremony of innocence is drowned;

The best lack all conviction, while the worst

Are full of passionate intensity.

William Butler Yeats “Second Coming”

It’s hard not to recognize the Widening Gyre in our moment. But perhaps it has been ever so for humanity. We search for signs and signals and find them because we want to. We see evil all around us and perhaps we should be grateful for it as it’s surely saved our ancestors from being eaten.

So it’s hard not to look around when a culturally significant number like 666 crosses your transom. What rough beast, its hour come round at last, Slouches towards Bethlehem to be born? I wonder if Yeats had a particular vision for the end of the world. And I wonder how much it matches mine.

Categories
Preparedness

Day 665 and Solar

One of the projects we’ve been prioritizing for our Montana homestead is installing a solar array and a battery back up system. Having secondary power systems in case of an emergency seems sensible. As electricity and gas prices rise, and power grids look less stable, solar becomes less of a nice-to-have and more of a must-have for a resilient home.

I will admit I’ve got little technical talent and even less enthusiasm for gadgets and tinkering, so this project has been entirely directed by my husband Alex. But I thought it was worth documenting here even if I can take little credit for the project beyond insisting it get done immediately.

Digging a trench in our pasture to connect the future solar array to the house.

We had considered panels for our roof but we have a front pasture with more sunlight year round so Alex opted for a 13.92 Kw ground mount array made of 32 panels. They are bifacial panels so they pick up the solar radiation that bounces off the ground (eg from snow) on a tiltable grid so we can optimize the angle based on time of year – from 20 degrees in the summer to 60-70 in the winter.

Alex in the hole being dug for the wrest.

The array is expected to generate about 21 Mwh/year and fully offset our electricity usage. We will also be adding 20-30kwh of battery storage soon since you can’t expect it to be sunny every day.

Putting in wires and protecting bits & bobs

We’ve got a ways to go but I will say I have been extremely impressed with how quickly we were able to find a solar vendor and get the process going. We’ve got advantages in that we don’t need any permitting as we are in the country. We’ve got to think of the aesthetics for our neighbors (we will be hiding the array from road view with an aspen copse) but in general we can do what we like within reason. If you’ve been considering solar for environmental or preparedness reasons I’d get on it as soon as is feasible.

Categories
Chronic Disease Politics

Day 658 and Time Perception

I don’t know about you, but my sense of time has never really recovered from the pandemic. Time got distended and warped in ways that were hard to appreciate at the time. I struggle to tell if I’m making progress or if I’m standing still.

If I’m really honest with myself, I started losing the thread on time when Trump got elected. I was one of those people for whom that fractured my reality a little. Not because I couldn’t conceive of him winning but because I could. That was my first moment where I felt like I was beginning to split from shared reality as I was so sure he would win and so desperately wanted him to lose.

Somewhere midway through Trump’s term, my health got fucked up. My sense of reality fracturing combined with my first taste of time being distended was when my health went sideways. As I stopped working somewhere in 2018 but it’s hazy. As I spent more and more time in hospitals, doctors offices and in bed, and less time at the office, the usual ways I used to tell time degraded further. Reality had already shattered so no reason not to let time shard too.

So I can’t entirely blame my sense of displacement from time on the pandemic. My sense of instability absolutely predates it by several years. By now much I couldn’t exactly tell you. Between my health and Trump I ended up a step or two off of consensus reality.

This did end up being lucky. As the pandemic was inbound I was prepared before it hit. I had tied myself so effectively into the immune system of the information environment I knew it was coming in December.

But I wasn’t entirely prepared for how much I’d up end my life as the second order effects of the pandemic kicked in. We did the first few months in an apartment, the first summer in a vacation house on the Hudson River and then decamped for my home state of Colorado.

It’s only just as we’ve decided to commit to Montana that my sense of unreality is easing a bit. We’ve got a home that we own and a set of preparations that makes it stable through some gnarly potential futures. So why isn’t the time dilation is easing? Why does it always feel like there is never enough time and also far too much time all at once? If anyone has the answer I am listening.

Categories
Community

Day 639 and Act Local

I grew up in a hippie college town that was fond of bumper sticker activism. Showing off your sense of humor and your political priorities was a fun thing to do with your Subaru Outback in the late nineties and early aughts before Facebook and the rise of social media.

A classic of the genre was “Think Global, Act Local.” I found this example on Etsy. And no I’ve got no idea what charity it ties back into.

Think Globally, Act Locally Bumpersticker

Maybe it was just less cringe to have this sort of thing on your car before we all spent half of our days yelling at strangers on the internet. I personally remember thinking Visualize Whirled Peas (a band from Austin) was a hilarious way to protest American war mongering as a teen. Of course, I still wrote Amnesty International letters at the time.

Now I’m not even sure who to donate money to at the end of the year as institutional trust continues to break down. Thinking globally is often the source of much anxiety. Currency collapses and the threat of nuclear war from Russia might be throw backs, but doomscrolling and feeling helpless is too modern. What is old is new again but in more potent anxiety inducing form.

So it was a bit of a relief to enjoy the “act locally” part of the classic bumper sticker this morning. Our local volunteer fire department had a pancake breakfast. Now as an adult my husband and I live outside of a completely different college town in the wider surrounding Gallatin Valley.

The rural (as opposed to city) county fire departments operate with a lot of local good will. They have a professionally trained but all volunteer force and cooperate with other districts through mutual aid frameworks. Practically, that meant a lot of college students taking advantage of living at the fire station to offset their costs while deepening ties to the community. A pretty ideal set up for a tight knit rural community. We get talent and they get skills and housing during their college years.

But calling them volunteers makes it sound less professionally run than the reality. I was impressed with not only the depth of knowledge of the entire department but also just how well maintained all of the equipment clearly was. Sure they probably cleaned stuff before letting their neighbors come in for a visit but everything was so shiny and new. I came away feeling a lot more secure about making a 911 call.

Now maybe that’s just function of meeting the fire chief and chatting with EMTS. And that’s probably exactly why they host these pancake breakfasts. But after two hours of touring equipment, and talking to everyone from the Medivac helicopter pilot to the youngest college kid on the squad, I felt like this was a team that has its shit together.

Now I’m actually excited to vote for a bond issue to get another fire truck or two! But in the meantime we dropped a few twenties into the boot on the table.

Pancakes and a fire boot for donations to the county fire department.

Categories
Medical Preparedness

Day 630 and Sympathetic Nervous Response

One of the downsides of having any kind of medical bullshit is having to keep an eye on yourself. If you over do shit you’ve got no one to blame but yourself.

I’ve been doing a wilderness medical incident first responder course this week. I initially went into it slightly concerned with my ability to physically keep up given my ankylosis. I was easily the odd duck out in a group of former military folks, paramedics and wild land firefighters. If I’m honest I didn’t want to embarrass myself by showing too much frailty. I was already the only woman in the class. I didn’t need to be the cripple on top of that.

But over four days I’ve managed just fine. I did wound packing and splints. I did a number of incident scenario responses ranging from anaphylactic shock to heart attacks. I even did multiple mass casualty response drills. Today I managed one as a triage incident deputy and comported myself quite well.

I was feeling pretty cocky about how well I’d managed through the week. I was enjoying that sense of accomplishment right up until 5pm or so today when we had our last assignment of the day. We’d just finished up a drill with five patients who had been caught in a tornado. It was an hour of field work and triage outside. I was thinking alright maybe I’m getting the hang of thing. But no I was about to embarrass myself on one of the easiest tasks in the course.

It was time to pack up our own medical kits. We got a big baggie with all the supplies we could possibly need for our our first aid kits and dumped it out on the desk. Our instructor began going over all the items and how to pack them up into the bright orange brick that serves as your kit bag. I was doing my best to follow along but my brain was just not having it. I kept trying to figure out what items went where and how it was meant to go. And I was not remotely keeping up with the class or the instructions.

I’m starting to feel overheated and I’m struggling to concentrate. And it’s then I realize “oh shit I’m in a bunch of pain” and I realize I haven’t taken my pain medication for hours and it is starting to show. I just ran around in a big field doing triage for an hour. So I think to myself well I’m having a sympathetic nervous system spazz out. The pain and fatigue is sending me into fight or flight and I’m losing decent coordination and fine motor skills. I am becoming one of my own patients.

I didn’t finish packing out my kit. I had to excuse myself. I briefly considered if it would be funny to have a medical incident in a first responder course. But I was fully capable of treating my own acute stress response. I was getting worked up by an inflammatory response from my ankylosis and low and behold the pain in my spine was going to spike.

The end of the story is that I’m in bed and the non-steroidal anti-inflammatory drugs have kicked in. My pulse and respiration are fine. I’m no longer in fight or flight. And yes I’m a little embarrassed that packing a bag is what did me in. But on the other hand, that’s a very “Julie” way to learn a lesson.