Tag: Startups

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Startups

Day 1047 and Risking Resets

Apparently the last year has been an “annus horribilus” for startups. Kate Clarke writes in The Information.

If 2022 was a year of shock and denial for tech founders and investors as stocks collapsed, 2023 was a year of acceptance of their harsh new reality.

Kate Clarke “Startups’ Annus Horribilis—and What Comes Next”

Maybe I never got over my skis, but I don’t feel like I went through shock or denial as capital markets tightened. I remember a world before interest rates were low. I remember bad times. I have memories of bankruptcies and struggles to raise capital.

I was a teenager watching my father when tech crashed the first time. I was living in San Francisco working for a venture backed company that had acquired my startup when Sequoia said RIP good times and the global financial crisis unfolded.

Maybe the elder millennial timing of my life wasn’t as shitty as we thought. The constant crises were the norm. Unlike Gen Xers I never had a fear of selling out. I was much more interested in finding a way to survive. And I was disappointed to learn that the institutions didn’t really offer that anymore.

When I had good luck I didn’t think my accomplishments were my own. I mostly thought of them as accidents of survival. Praying for exits was less of a joke and more of a bitter reality. And when they did come it was a surprise.

I have made my peace with the risk of resetting the chess board. My optimism has always been tempered by expectations of crisis and chaos. I might even believe it’s for the best.

Categories
Aesthetics Finance

Day 1040 and Easier To Be First

I was telling a friend of mine, only somewhat hyperbolically, that I’d watched “Margin Call” forty times just this year. The actual number is probably half a dozen (my blog’s search function tells me I’ve mentioned it fifteen times) but it’s still a lot for what was a niche drama about the financial crisis.

There is a speech given by Jeremy Irons that sums up perfectly why finance and fashion are fundamentally in the same business.

What have I told you since the first day you stepped into my office? There are three ways to make a living in this business: be first; be smarter; or cheat. Now, I don’t cheat. And although I like to think we have some pretty smart people in this building, it sure is a hell of a lot easier to just be first.

Being first is my game. I’ve taken it from a career in luxury fashion to a career to a career in venture capital. It’s the same fucking job.

It means I often look stupid as I see emerging trends long before the rest of the market gets there. There is a basic math to this which involves status signaling. If you are the type who must do the math to understand how status works as it’s not intuitive to you I recommend this piece.

Just remember that being first is the key to both. And your ability to be first is almost entirely a function of cool. And being cool means not giving a fuck. And if you don’t give a fuck its generally for one of two reasons. Its either because you have the status to do and can get away with it or or you genuinely don’t care.

Freedom is just another word for nothing left to lose.

Janis Joplin

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Biohacking Startups

Day 1039 and Can’t Wait for Monday

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.

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Internet Culture Startups

Day 1036 and The Right Direction

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?

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Community Culture Politics

Day 1033 and Agency Explosion

I spent my entire day at The Network State conference in Amsterdam. I was impressed by just how many competing visions people had for how we might self organize into a modern sovereign societies.

Naturally people who aren’t sold on a traditional geographic nation state, as a philosophical or practical matter, are a very diverse lot. And most of them are some flavor of dissident. You don’t go looking to create a new state if you are happy with the current regimes. By the looks of the crowd, a lot of people are disappointed in their elites.

So diverse was the content that you could probably find both religious fascist reactionaries and collectivist post-rational atheists on the same floor.

You can find all of the content online and I would encourage you to watch it. You won’t agree with everyone (lord knows I didn’t) but you will see competing visions for how law, currency, education and information sharing can be structured. You will likely find arguments that strike you as morally repugnant. And probably a few that have you clapping in agreement.

It was actually a bit refreshing to see people take firm stances on their values and their limits. I’m not always thrilled to see where some people would place my personal rights (women’s rights somehow remains a hotly contested space) but the “grey tribe” crypto libertarians do their level best to accommodate everyone at the protocol level. Sometimes people you dislike use common infrastructure. Welcome to civilization.

What I saw, as Brook from Vibecamp put it, was an explosion of agency. The people gathered together believed that the future and the spaces they inhabit can be negotiated without intermediaries. Everyone believed they had agency in forming their own network states.

That’s a pretty revolutionary stance. I’m not surprised to find that we don’t all agree on how the revolution will play out. But it’s nice to see that people believe they can build a better a better world with the tools they have available to them.

Categories
Travel

Day 1027 and Fuck It We Ball

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.

Fuck it we ball

I’m struggling a little in Tallinn and was considering upending my last week or two on the road here by heading to Amsterdam to attend Balaji’s Network State Conference.

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!

Categories
Emotional Work Travel

Day 1026 and Failure Modes

I’m not sure my current traveling is yielding the success I’d hoped. A bumpy road of geopolitical chaos, physical stress and emotional work has made my time in Tallinn harder than anticipated.

I don’t want to call the trip a failure as I doubt anyone is paying enough attention but me to notice. I didn’t get to attend as many meetings and events as I’d hoped and I feel guilty about it.

But I am noticing the challenge of doing work as a digital nomad while also coping with emotional family obligations and responsibilities.

I’m trying to decide what constitutes a failure mode for me. Am I doing what’s best for the longer term goals I’ve set for myself? And do I know where must I set painful boundaries?

I struggle mightily to be separated from family and friends. But I am also coping with the new reality of closed borders, impossible visas, and challenges to uniting everyone in my extended chosen family unit. Many people can’t get to America anymore.

It’s on my mind as I am considering rearranging some of my time in Estonia to go to the Netherlands for the Network State conference next Monday. It’s exhausting to be on the road but I also firmly believe the network state will be an emerging organizer for populations that aren’t well served by their current geographical state.

That’s ironically why I’m in Estonia in the first place. It is the most progressive of the nation states with its e-residency program and I’m excited to do more business here as it’s welcoming to all who can make a contribution.

And yet I feel like I’m not doing all that I’d hoped while I’m here. There are too many directions to go in and no good choices. I long to be more specific about some of them but the salient point is that I have freedom of movement that many others do not. And that’s the failure mode that undermines us all.

Categories
Startups Travel

Day 1024 and Rate of Change

I had to slow down for two weeks to balance out my work, my circumstances, world events and my emotions. I always find myself disappointed at slowing down. There is a certain mood taking a hold in my circles. A certain “extropian enthusiasm” has taken root.

And I find myself looking to go faster. I see the need for momentum. I struggle to stumble at the pace I keep now. My heart variability chart, which shows a kind of adaptability stress, is jerky with dips and rises. But I am also certain I’m managing better.

Have you ever felt like it was easier to lean into more? That sometimes things feel smoother when they are faster. Control remains an illusion so why not let it go.

I am thinking of going to Amsterdam for the Network State conference at the end of the month. The flight from Tallinn isn’t too bad and I’m a believer in the need to build systems. I owe much to supranational connections of shared values. And I’d like to us to pursue financial and contractual systems that connect us globally. The state should not be a limiting factor for progress.

And so I am thinking of my own rate of change. What can I sustain in my own daily life and circumstances and how does it stack against the increased rate of change of a future that is arriving fast? I like to think I’ll meet the moment but I’m certain I’ll be humbled by its arrival.

Categories
Internet Culture Politics

Day 1011 and The Same Timezone

My circadian rhythm has succumbed to the shock of the current crisis. I’m currently on the same time zone as Israel as I’m in Tallinn in Estonia. It’s been a windy weekend with a record breaking wind storm so folks have been advised to stay inside.

That means I’ve been online watching a war breakout with no news delay or influencer filters. There is no defining set of news narratives. Twitter is broken but it’s still largely moved by the enormous traffic of the American dominance on its algorithm. Stories build but American news can whipsaw a single image into our consciousness.

Except there is no one to trust on the platform. The old verification system of the blue check didn’t provide much except that if someone said they worked confidence that the source. It was not a great system. But now there is no system.

It doesn’t seem as if there is a functional trust and safety team at Twitter. So a lot of people have seen horrors that has previously been buffed away by content warnings and nerfings. It’s a good thing and a bad thing.

Keep in mind “trust and safety” is gone might be a fancy way of saying none of the intelligence services have any natural dominance, none of the legacy news institutions are caught up to internet OSINT and you will see things.

And I have. By the time something hits the American audience I’ve had almost an entire work day with the information you are just seeing. And it’s been horrifying. Because it is. And being on the same time zone really lays bare just how much narrative fog permeates war in a crumbling corporate internet.

Categories
Startups

Day 1006 and Startup Towns

I was born in the startup Fertile Crescent of Silicon Valley. But I grew up outside of one of the many ecosystem towns. Boulder Colorado always took pride in not only its technical roots in aerospace and defense, but in its new software startups as well.

I admire people that build out a startup ecosystem. Understanding that a certain environment of agency breeds good outcomes. Maybe it’s a kind of boom town mentality in the good years. But in any year it’s good to be on the team that believes in the future. It feels as if people are pulling in the same direction.

I get the sense that Tallinn as a city and Estonia in general as a country believe in a better future. I can’t tell you how much I enjoy seeing a city with a lot of construction. Offices also appear to be full but there is also housing in the city core. Everyone seems to have kids. I’ve never seen more first graders in a city.

The gentleman I met today said that in the future every country will be competing for every global citizen. I think that insight is at the heart of believing in a better future. You have to believe that if you are talented that countries will rightly compete to have you as its citizen. The frontier of the future will be found in finding the optimistic folks who believe that their efforts will make their chosen place better.