Tag: Social Capital

Categories
Aesthetics

Day 705 and Impressed

I haven’t bought a new handbag for nearly a decade. While I like fashion I have never been a hardcore accessories person. One generally been of the mind that those are anchor pieces that you keep for years and years. I didn’t see much point in acquiring trends as it just seemed so expensive. I buy more for longevity.

The last handbag I bought was a camel Masur Gavriel bag. I think it was sometime in 2013 but it may have been earlier. I found a photograph dating it no later than 2014 but I can’t be sure. I’d seen a small piece of press about it as it being a kind of super minimalist brand by these two bicoastal pretty girls. I loved the clean look of the tote with a long full leather panel and a bright yellow sunny interior. I found a boutique that stocked it in Los Angeles. I think I paid less than $300 for it.

I’d talked it up to a girlfriend in finance and she bought one. She then talked it up to her friend who happened to be Lauren Santo Domingo and then next thing I knew the nag was absolutely everywhere. It subsequently raided a large private equity round. It’s brand book became so popular a fast casual yuppie food brand called Digg Inn ripped them off. The brand was a genuine hit.

Being ahead on a handbag like that is the fashion equivalent of being in the best series A round in Silicon Valley as the new angel investor. It means a lot but only after it’s been proven out to the IPO. I haven’t felt that kind of kinship with a brand in a while. And certainly not with a handbag. The high conviction I had with Mansur Gavriel should have made me pursue the two designers as I just knew in my gut this bag was fucking it. Really the one that got away for me.

So I am excited that I got a new handbag today. The first one I have purchased since my Mansur camel tote. I’ve literally not purchased a single handbag in that entire time though I did buy a backpack and a suitcase.

I saw this across it across a bunch of fashion blogs over the year. It has hit a lot of mainstream fashion news. So fashionistas are definitely well and truly ahead of me. I am not a market editor or an influencer being sold by fifteen different publicity firms. Though I’d absolutely like to be. There was absolutely a time when I was very much in the scene but let’s be real now I’m an eccentric investor in Montana. I’m cool just in a different way.

Polène Numero Uno Mini in Black Lizard with dust bag.

The bag is called Numero Uno Mini from a French label called Polène. It’s a clean bag. But it’s got a little personality in it’s shape. There were smooth calfskin options but I’d been searching for a modestly dressier bag that would be a bit of a statement for day but also formal enough it could accompany a cocktail dress or make due at a wedding. It works up until you need a clutch because it’s a gala or an awards ceremony.

Polène Numero Uno Mini in Black Lizard with dust bag.

I feel like it’s a bit louder than the bag it’s replacing which was a black calfskin envelope clutch with a gold chain that is bought from Barney’s. I’d got it on sale for like $150 bucks as well it was a house brand I guess. But it was just so damn versatile I used the fuck out of it. I haven’t seen it since we moved to Montana and I’m a bit concerned it’s gone for good. So perhaps this new Mini will find a home in my routine.

I’m very impressed by its quality. The stitching is tight and lean. The hardware is bright and sturdy. The logo is very discretely etched into corners of the hardware and on the feet of the bag. Which is just a nice touch at a $350 price point. Recently it’s felt like everything is a bit shittier and more expensive. So it’s a joy to get something that feels like a great value and genuinely nice. I hadn’t made some dirty compromises with a direct to consumer business. So yeah I’m impressed with a handbag.

Categories
Culture

Day 697 and Chivalry for Women

I was having a conversation with one of my girlfriends today about power. We are both exploring the new ways in which we’ve become more aware of our inherent power. Not that we were not powerful when we were younger but rather we have a new consciousness about it’s responsibilities. And it’s relationship to our gender is complicated.

One of the most dehumanizing aspects of Girlboss culture was how it forced female founders into rigid standards of acceptable behavior and emotions. We were surprisingly heavily policed even though we were allowed to use femininity to allure and entice. Girlbosses were empowered. Except occasionally we were only empowered with sex appeal.

Girlbosses looked good on magazine covers and in lifestyle content. It was honestly suffocating even as it was a massive tactical advantage. Imagine being given a cheat code or a level up. Of course you are going to play it but sometimes it takes the joy out of the game.

I am less adverse to the wiles of the feminine as I get older. Now I am able to wield the benefits of mutual viewpoints and seeking common ground. Women are trained to persuade from a young age. We are trained to be accommodating and without hostility or anger. It makes it easier for us to seek out where we might come together.

But those powers of persuasion can also feel manipulative and narcissistic. Men who have felt failed by their mothers can feel particularly hostile towards feminine power. Negative family orientations towards women from siblings to parents can sit in completely irrational and reactionary places for men. I say this because men occupy a similar place for me. Mommy and Daddy Issues can often materialize in stabilizing coping mechanisms. But ultimately it’s not a healthy exchange of power if it’s not consensual.

I dislike having power that I only wield because of my gender. I would prefer to have a less charged environment to pursue my fortunes. But I am also not adverse to playing my hand. You’ve got to play it as it lays. Different women have resolved these power discrepancies in wildly disparate ways. But we are not absolved of the ways in which we hurt men just because we have been hurt by them.

One of the great oversights of the feminist movements may be our lack of a developed gentlemanly style code for women. A theory of chivalry for not playing fair in the gender wars. We certainly expected it of men. If you wield power you must do it responsibly. Peter Parker principle applies to anyone with gifts that can be used for good or evil.

Categories
Culture

Day 690 and Status Games

Noblesse oblige. Literally translated from the French as nobility obligates. It’s commonly understood to mean that aristocracy has a responsibility to act graciously towards the civilization which has granted them status.

It’s a turn of phrase I’ve written about before, specifically how in our post modern times, we are challenged to understand who is pursuing a life of virtue and what their obligations may be to the rest of us.

No one is sure if they are nobility or peasantry. No one is noble or good. Which means nobody deserves anything they get. Which is about as close to the war of all against all as I can imagine. Hobbes would be pleased.

JFredrickson.com Day 45

Humanity has always been rather clever at inventing new classes. We need fresh blood from the bottom to keep revolutionary sentiment in church. Every century we are finding new ways to fight it out for new types of status and virtue.

Business values money. Old money values class. The intelligentsia values intellect. Hipsters value taste. The religious value faith. And around we go with status games as we trade social capital for actual capital just so we can get something to eat.

There is always an emerging new game that upsets the underlying order. The printing press destabilized the church and its priestly cast. The internet destabilized the media and it’s editor cast. You know the drill.

Right now there is a massive internecine fight over which order rules over Twitter. And depending on whose camp you fall into you are probably signaling different things. And that lack of shared cultural values is leading to some pretty silly reactions. A lot of dickriding is happening across every major faction.

Which if you take away the reactionary specifics, is totally understandable. If one class of person values money but the competing group values taste than you aren’t really fighting for the same things. Different values are different.

But you’ve got to be careful with your own reactions. Ask yourself if you are responding out of some shared cultural loyalty that is overshadowing your own common sense. Your attention is valuable and powerful people recognize your attention for the commodity that it has become.

Don’t buy into bullshit just because it’s your team. The chance that someone is making a buck off of your attention sure ain’t zero. And America being a free country and all means you shouldn’t be living enthralled to someone else’s priorities.

Categories
Internet Culture

Day 689 and Dick Riding

As chaos continues to unfurl around the world, the tendency towards hero worship is getting out of control. Cults of personality are having a moment absolutely everywhere, even as we are treated to even more spectacular variants of the Emperor Has No Clothes. You’d think the recent flameouts in finance, technology and politics just this week would make us all a bit more skeptical of authority and yet that does not appear to be the case.

You cannot go onto Twitter without exposing yourself to someone’s daddy issues disguised as a low rent business school case study thread. I was concerned about the information hygiene as platform capacity degraded. But I honestly wasn’t expecting the first disease that actually emerged. Twitter is in the throes of an emotional venereal disease.

I am talking about dick riders.

If you are not familiar with the term, being a dick rider means praising absolutely every move of someone you perceive as having more power than you. Dickriding is a particularly uncomfortable form of reply guying wherein you praise absolutely every move of the person whose dick you are riding.

It’s especially virulent among regular people without personal expertise or exposure to the problem at hand. Not knowing any better is not however a prerequisite for dick riding. You can lend your credibility to someone else by using your expertise to rationalize just about anything.

Humans love power and hierarchy. I guess it makes us feel safe to believe that someone knows what the hell they are doing when we are afraid. But the sad reality is that we are all human. Even the most accomplished and brilliant among us are still saddled with bias, self doubt, insecurities and blind spots. If you are inclined towards the religious, we are all sinners. Though I’d recommend you combine that with a side of grace as I don’t mean this to be judgmental.

I realize it’s pretty funny to bring up the redeeming power of grace in the context of sexually explicit slang. But I do think it’s helpful to remember that even the worst of us have redeeming qualities and even the best of us have flaws.

So if you are tempted to engage in dickriding because you think someone is better than you, might I encourage you to consider that we are all equals in the eyes of God. Or at very least equal in the face of a good shit post.

I’m a straight woman so I like riding dick but I don’t know what excuse the rest of you have.
Categories
Startups

Day 688 and Hardcore

My generation of founders came of age during the peak of hustle porn. We were young and dumb, and even without the use of stimulants and nootropics like our Gen Z younger siblings, we got a lot done. Probably because we were well young and dumb. And it’s easier to do things with brute force when you don’t have better tools. Being hardcore made sense for some of us.

Alas if you burn the candle at both ends you may find yourself with an astonishing array of healthcare issues in your thirties. Which is astonishingly common in my cohort. I’m just one of the rare examples that is public about the dangers of overworking yourself. Hustle porn’s legacy is mixed. We lost founders to workaholism and occasionally much worse. A generation learned that mental and emotional health are just as important as physical health.

Hustle culture coincided with a lot amazing companies getting built but it’s not entirely clear to me if being hardcore is the only factor at play. Tempting as it may be to look for simple mono-causal relationships in life, the math of success is never that simple. Life isn’t an engineering problem. And even if life was an engineering problem, applying more force doesn’t solve all problems. It might even make a few worse.

I don’t want to knock hard work obviously. Im a firm believer that the basics never go out of style. Hard work is a given. Most of the greats are working hard because once you discover you have a natural talent then maturity generally encourages you to hone it.

Success is built from many fathers even if it’s mother is hard work. Proper resourcing, adequate incentives, teamwork and an effective hierarchy of respect within it are all factors. And let us not forget just plain old good luck matter just as much as being hardcore.

So tempting as it may be to give in to Twitter discourse narratives don’t get fooled into thinking someone that is successful has it all figured out. You don’t know what it took to get there and who brought it together. Don’t overweight success on its own. Nothing is ever that simple. Expect that the team you want to be a part of will demand that you demonstrate all of the above virtues and along with the necessities of hard work. But if it all comes together it is worth the sacrifice.

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
Emotional Work Startups

Day 655 and Accountability

Being accountable to myself is much harder than being accountable to someone else. I suspect this is true for most people. We all wish for ideal childhoods with parents who provided for all our emotional needs. And so we look to bosses, spouses and authority figures as substitute parents.

Most of our adult lives are spent trying to find some ideal mommy or daddy to soften the trauma and lack of our childhoods. We remember these issues far too vividly as adults through the perceptions of our inner child. It is a huge challenge to recognize that feelings are not facts but these feelings nevertheless run our lives.

The unfortunate truth is that the only ideal parent that can ever exist for our inner child is ourselves. We must comfort, protect and nurture that part of ourselves that still feels lacking because no one else can give it to us. No one is coming to save us. We are the parent to our inner child.

Which brings me back to my challenge with being accountable to myself. I struggle to care for myself the way I need as I too often perceive myself as not being good enough. If I just worked harder or spent more time preparing or if I just did one more pass on my pitch deck. You get the idea. I’ll push myself right over the edge of success into inaction and self torture.

One way I’ve been able to overcome this need to push myself into a fantasy of accountability is simply by building in public. If I’ve said what I plan to do then I’m no longer just cultivating it inside myself but I’ve let the idea come forth into reality. Once it is outside of my own tortured bubble of personal accountability it can gain momentum.

I am raising money for a venture fund and now that I’ve put that in public it’s not just about me. It’s about the thesis, the LPs, the founders, and the market. And it’s much easier to be accountable to a shared reality with other people than some fantasy version of perfection inside my head. If you’d like to be a part of it and are an accredited investor here is a link to my calendar. If you’d like to read more about the fund I’d be thrilled.

Categories
Finance Internet Culture

Day 654 and Inappropriate Language

As much as I love to joke about getting cancelled on Twitter, I’ve never actually worried about getting dinged. I resisted getting a Blue Check and otherwise pursuing the trappings of being a power user as I was confident that my real world connections would overcome any algorithmic nonsense.

Digital power still resides on a firmament of real world power. I figured I know the right people in real life at Twitter, so short of me encouraging a coup while also being the President of the United States of America, I was pretty safe in maintaining control of my account. This was perhaps a bit naive and I knew it.

The algorithms do in fact come for us all. I got an unprompted warning today that a user on my account (I’m the only user but whatever) had been deemed to be using inappropriate language.

A Twitter warning saying my account AlmostMedia has inappropriate language so is ineligible to run advertisements

At some point I had the power to run promoted posts, otherwise known as advertisements, but because I have angered the language police at Twitter I am now no longer allowed to pay to promote my own speech. I guess I overrode the “are you sure you want to tweet this most users don’t use this speech” warning one too many times.

I swear more than average for a woman but probably a lot less than average for someone in finance. My account is notably a shitposter account. I remain fascinated by social status and access of all kinds, and shitposting remains of the higher status activities in social media culture as it demonstrates you need not be censored by social mores or common decency. Except apparently I can be.

You can get worked up about whether this infringes on my speech as I can say anything I like but now I’m no longer able to pursue any paid reach. This is the popular theory that everyone is entitled to free speech but not free reach. Or I guess in my case paid reach.

To be honest I had no intention of buying any paid reach advertising on Twitter. The folks I care about generally seem to get my Tweets and I’ve got no sense I’ve been shadow banned. Well, ok now I am worried but I wasn’t before this goofy warning.

To me this feels like a reminder that Twitter just doesn’t give a fuck about its power users. I am a well networked and well liked (or well hated) account with powerful followers in the core demographics that matter on Twitter.

I sit inside a nexus of media, finance and Silicon Valley personalities that care a lot about the platform even as the platform mostly doesn’t give a shit about us. Which is arguably why we’ve all spent six months giving a shit about Elon Musk buying Twitter. When a power user gets banned from advertising producers it’s not really a problem for the user, it’s a problem for the ad products team who is fucking up making money. You know, their job.

Categories
Finance Internet Culture

Day 651 and Best Guess

I’ve loved the discourse of indignation that has surrounded rich men doing deals via text messages. There was lot of hand waving about the death of genius and the meaning of it all. Isn’t it such a scandal our best and brightest are just saying shit on Twitter DM?

I suppose if you never worked in startups or finance it might come as a genuine shock that rich techie people are no better or smarter than anyone else. Why the fuck do these dorks control all the money and resources then? I’d say it is because they are willing to make their best guesses.

One of my favorite scenes in Star Trek is Spock struggling through a series of calculations and informing Captain Kirk that he may need to make a guess. Kirk’s response? That’s extraordinary! Spock is naturally confused. Dr McCoy or Bones has to do some translating.


Bones: He means that he feels safer about your guesses than most other people’s facts.
Spock: Then you’re saying… it is a compliment?
Bones: It is.
Spock: Ah. Then I will try to make the best guess I can.

Star Trek IV The Voyage Home (The Whale Movie)

Everyone is just muddling through and making their best guesses. Even the best and brightest among us are struggling to make it all work. I’m not suggesting the folks making the Twitter deal are as good as Spock but they are just making their best guesses too.

And for whatever reason they are willing to put a lot of money, time and reputation on the line to see where their best guess might go. That’s pretty courageous in its own right.

Categories
Finance Startups

Day 649 and Build in Public

People love building in public. The universe loves a specific ask. Today for my 39th birthday, I am doing both.

I would like to raise $5m for chaotic.capital’s rolling fund before I turn 40 next year. #5Before40 has a nice ring as a hashtag right?

Chaotic is the first check into founders and companies that adapt humanity to complexity. Personal flexibility, organizational agility, and societal sustainability.

Our founders capitalize on chaos.

You may have noticed I’m a bit of a doomer. I keep close tabs on the opportunities presented by an increasingly unstable world.

Climate change, distrust of institutions, geopolitical unrest, resource scarcity, rising tides of populism. There are founders who can help us address and survive these pressing issues.

My goal is to raise $500K per quarter via a rolling fund. There is 155K per quarter committed from folk like Joel Spolsky of Stack Overflow and Michael Pryor of Trello so you will be in good company.

With a base like that, I want to do the rest in public here on the blog and Twitter. You can read the fund overview here. Building in public has generally been my preference and it has felt weird doing any of this fund work quietly behind the scenes.

You can sign up on Angellist through the above link or get on a call with me and we can discuss the fund, our portfolio construction and my thesis.

I’ve got big ambitions for accelerating into maturity as I have no intention of letting entropy win.

Humanity deserves progress, and I demand growth for myself. I’d like to make us both money with that. 

______________________

FAQ TIMES

Haven’t you been investing through chaotic before? 

Yes but just with personal capital and an SPV. I want to scale it up as we believe our performance warrants it.

Go check out some of our best investments here. https://chaotic.capital/fund-overview

______________________

Why didn’t you raise more during good times? Why the fuck are you raising a rolling fund at the end of the world?

Did you miss the part where I am a Doomer? We are a bad times fund. This moment is where our thesis matters.

Good times return and you’ll appreciate having written a hedge check or two into weird companies that are designed for the power laws of institutional chaos.

Or if the fear of the moment feels overwhelming you can sit back and die the slow death of uncertainty. Trust me I’ve considered it as well.

But personally, I’d write me $10,000 check and come along for the climb back. Entropy only wins if we don’t fight back.