I love to write. I love to read. I read, and then I write, and then I do all over again. That simple cycle repeating itself powers my life. It’s how I learn. It’s how a lot of people learn.
Being literate allows me to reach beyond the bounds of circumstances to anyone else who can also read and write. The word has been the protocol that connects us.
That we can share information amongst ourselves is a triumph of generations overcoming the desire to control the word.
I can share what I write with you because of a man named Matt Mullenweg. Maybe you know who he is and maybe you don’t. But if you are reading this post it’s because of him.
You gave our generation the tools to be heard and you have shepherded those tools well over many years. I value your efforts. I value it with my loyalty. I have for almost twenty years. And I have always felt that loyalty was respected by WordPress through the commitment to protocols we agree upon because they work.
The software that powers this blog has done so reliably for 1106 days in a row. And it’s not even my first blog. I started blogging in college using WordPress. I launched an entire career because I published my writing not in books or magazines or newspaper but on the internet.
In the intervening decades, I’ve used lots of software and many types of media. I’ve committed to many kinds of technology and adopted any number of platforms, systems and even new languages. But the home I’ve trusted most on the internet has been WordPress. Thank you.
My parents are both readers. That’s what I inherited from them. The true richness of my childhood was not in any material resources (which varied) but in its prioritizing access to information. In my lifetime that went from libraries to the internet.
Now I get to be both a reader and a writer. And that’s how I know things have improved. Thanks for being a part of building those improvements Matt. Happy Birthday. I hope I get to write you another happy birthday wish here again when you turn fifty.
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.
My timeline got absolutely imploded by the news that Sam Altman has been fired by the board of OpenAI. I’ve got so many priors and biases and you probably can guess at some of them. Others I hope I’ve played a little closer to the chest. I do not know what happened.
Everyone in Silicon Valley is going Matthew McConaughey paranoid smoking conspiracies
I do think we’d know more about what the fuck was going if we had the kind of reporting that was a little more shoot from the hip and a little less tsk tsk regime. I’ve never missed Valleywag more.
I do think it’s been an impossibly weird week and everyone is as reactive as it is possible to be. Silicon Valley has always had factions and drama and the Federal government breathing down its neck. So this feels like a little bit of the same cycle of power and drama that we’ve always had. No one is ever an angel and the devils are often unexpected. It’s best not to make a martyr out of mercenaries. Just don’t be too sure you know what army you’ve been drafted into.
Maybe this is my second wind finally kicking in but I cannot wait to start my week tomorrow.
I am pleased that this is how I feel at 5pm Mountain Time. I woke up at 3am thanks to my comical jet lag from having been on GMT +8 for several weeks. I don’t recommend flying a transcontinental flight the day before daylight savings incidentally. I proceeded to feel like absolute shit all day.
But as the Sunday scaries kick in for the rest of the timeline, I am absolutely pumped for my work week. My workload is just super exciting.
The Network State conference left me pumped. The mutuals I spent time with in Amsterdam for other engagements also got me pumped. A founder I’ve been working with for almost a year is hitting his first visible traction moment and I am pumped to strategize with him. Another builder friend is interested in pursuing some funding and asked me to weigh in. The communications work I do for founders has led me to a particularly interesting challenge I want to help them solve.
I am just overall really excited for my work. I can only hope my body is up for it. I will have to carefully manage rest and recovery as this workload is worth the annoyance of treating my body with utmost care.
I’ve been in Europe for the last month. My itinerary included Tallinn, Helsinki and Amsterdam. It was a personal trip with work overlayed on top as the digital nomad as become a regular part of my life.
I have said it before but I don’t take as much pleasure as you might imagine from these trips. Much of the reason I spend so much time outside of America is simply that the State department won’t let in the kind of rare weirdo digital grey tribe talent from the portions of the world the United States has labeled as “bad passports.”
I’ve written about it extensively if you are interested. We’ve reached a crisis point in the dysfunction of our immigration and travel visa system in America and it weighed heavily on me and mine. It’s the most concrete evidence I have that America simply isn’t serious about being competitive in the global economy.
As I head back home to the states, I want to be sure I’m heading in the right direction with my priorities. I’ve been committed to crypto for close to a decade now. I’ve added in more focus as it’s become clearer we can’t rely on fiat and the dollar system. I’ve become part of the artificial intelligence explosion over the last two years. Now that the Network State concept is more formalized and we have rallying movements like e/acc, I feel as if some optimism is cautiously warranted. All it will take is twenty or thirty years of work and surviving the geopolitical tumult. No big deal right?
One of my founder friends Anton (his startup Chroma is a chaotic.capital portfolio company) has a slogan I find myself referencing in times of indecision.
It required some intensive travel logistics but as the timing overlapped a few other conferences in Amsterdam I thought “fuck it we ball!”
And I’m glad I did as with a little help from my masterful travel agent (my husband) I was able to reroute myself to Amsterdam from October 29 through November 3rd. If you are in town for various events like the Urbit or Solana conferences let me know. I’d love to see you!
My fund is an early stage pre-seed venture fund that backs weirdos. Our thesis is simple. The world is increasingly complex, chaotic if you will, and only the most agile will win. We look for those that have the agency to adapt to the one true constant; change. Circumstances changed by the moment but humans remain reassuringly the same.
Humans are horny for hierarchy. We are eager to give our power away as a species. Please will someone else just be responsible for making our decisions for us? Can someone point me to the person in charge? “Take me to your leader!”
If someone seems smarter, richer, more capable, more aggressive, heck even if they have better taste than us, they become an instant candidate for us delegating our authority over to them. My most popular blog post ever was about dickriding. Yes it was about Elon Musk’s fans.
I’ll be the first to say that people who court you to gain power should be viewed as suspect. But someone who has power is not themselves always suspect by default. I know it’s a fine distinction. But people fall into positions of authority simply by going out and being competent. Competence is a fast route to power.
Sure being competent has a lot of downsides. Suddenly you’ve got power you maybe didn’t want. We have an incentive shunt power off to someone else as it generally sucks to be in charge. It’s energetically expensive to be responsible. Just ask one of your friends with a toddler.
Sometimes we have to wield power because it’s our job to take care of our corner of the universe. Again ask someone with a toddler. We are in charge of sustaining some portion of the grand experiment called life. Even if it’s just our own families. Even if it’s just yourself.
So why am I titling this post “I am Beff Jezos?” Right now online there is a movement gaining recognition for encouraging people to have agency and build for the future. It’s a movement that wants you to own your own power. And to help others get more power of their own.
One of the anonymous posters associated with it calls himself Based Beff Jezos as a play on Jeff Bezos the founder of Amazon and the meme “based” as in Lil B’s “based means being yourself.” It’s a silly joke.
It’s principles are simple. The future will arrive and we should build like it’s coming. Slowing things down, or even worse, going backwards, is not a solution to our problems. We can only go forward. If you’d prefer a driving metaphor, we should accelerate into the curve. Slowing down just spins out the car. Civilization is the car.
So what, you want to just uplift humanity, build AI and populate the universe with the maximum diversity and quantity of life?
The movement is more of a meme space than anything else. It is decentralized. I’ve not met anyone that runs it though I’ve spoken to many vocal supporters. And I’ve chatted with folks that are at the nexus of of its online presence. Everyone is positive and friendly. Most of them are anonymous. I’m not even of sure if some of the accounts are singular or plural. Which is pretty cool. It doesn’t have a president or a CEO or even a founder who owns anything with any amount of authority. It could be one dude or multiple dudes gender non specific.
It’s just a bunch of people who make stuff. It’s popular amongst engineers but it’s an ethos that to anyone who can make something. Even this blog post counts. I am e/acc as much as anyone.
Naturally if no one is in charge it’s a bit threatening. If there is no hierarchy how do we control it? If no one is in charge then what will we do if someone under their banner does something bad?
Such is the beauty of an idea. A meme can’t really be owned. A decentralized group of goofballs on the internet can’t really be snuffed out for bad think. Maybe a few nodes go down. They literally cannot kill all of us.
I Am Spartacus
The messages does seem to be resonating. I know being hopeful has improved my mood. A decent number of people who make shit want the future to come a little faster. They want more people with more ownership of the building process.
More complexity and more abundance is appealing even if it seems impossible to achieve. Don’t worry, just build for your corner of the world. Put power and responsibility in as many hands as possible. We can build it together.
You too can have a toddler and own the joy of being responsible for your corner of the universe. It’s dangerous for sure. Folks will tell you for your own good you need to have a hierarchy and someone responsible for the power.
But guess what? It can be you. And sure heads will get bonked. Crying will ensue. Remember I said ask someone with a toddler? What if you are the competent and in charge parent? Shit right?
We’ve got to go forward. I am Beff Jezos. You too are Beff Jezos. And they can’t stop us all from arriving at the future. Go ahead and accelerate into the curve.
Everyone in my social circle was in a terrific mood yesterday. A small company that was widely supported by angels in my ecosystem was acquired by a larger startup that we all like. Happy investors that we were, Alex and I read the cap table over dinner and celebrated each co-investor that we liked.
It was a jubilant moment across my group chats in a darker wider climate for startups. The federal reserve’s inflation fight has meant tighter dollars. And that means less funding for early stage companies at lower valuations.
The focus has been good for the industry. A reminder that we can’t spend our way to innovation. We’ve relied on bigger companies, weaker talent, and unsustainable growth policies while the cash spigot was on.
I enjoyed the win. I’m happy for the founder and the team who will be going to such a great company. I’m happy a lot of investors got a win. But I know that the good mood will have to sustain us through some rough patches. So it’s good we are all banding together and the wins are shared.
I’ve noticed an distinct uptick in pre-seed & seed startup founders looking to raise smaller rounds. If you think this post is about you, don’t fret I’m into the double digits with examples just this past month. Smaller rounds on reasonably capped SAFE notes are on everyone’s mind.
While not everyone I’ve spoken to has fully thought through what it means to raise less, the market is a muse. And she is always worth listening too. Founders are hearing that raising a round must tied to product milestones. That it is good to raise what is needed to show proof that your idea has demand. In some cases the milestones are proof that your technology or product can be made at all.
When I first got started as a founder a million to 1.5m raise capped at 6m was considered a big and well funded seed round. It was more typical that the pre-seed and angel rounds were done in the half million range and capped at 3m or so if you were dealing with sophisticated angels. The industry was smaller.
It’s fascinating to see that we’ve stepped back to valuations and round sizes from ten to fifteen years ago. The markets have indeed shifted.
But what really got my attention is the undercurrent of planning and go to market strategy work being demanded again. We’d lost some of those expectations during the fervor of the zero percent interest years. Capital has a cost. We’d forgotten that.
Founders should raise whatever they think is right for their stage and what they want to prove. The pro for less is more discipline. The con is you run out of money and you die. The rest is overoptimization about dilution which is not the high order bit.
If you are a founder in this market you must know what you want to do, how much it will cost and how long it will take you to get to the first step of milestones that proves you’ve got something of value. Everything else is noise.
