Tag: Trust

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Startups

Day 250 and Getting to Know You

I don’t really like musical theater (it’s the people sorry) but I’ve been humming a tune from The King and I called “Getting to Know You” as I codify my process for meeting founders and startups. It turns out Julie Andrews through Rogers and Hammerstein lyrics may be a viable strategy for finding out if someone is a fit for Chaotic.Capital. The actual play is racist, colonial nonsense but you know take art for art’s sake.

Getting to know you

Getting to feel free and easy

When I am with you

Getting to know what to say

Haven’t you noticed

Suddenly I’m bright and breezy?

Because of all the beautiful and new

Things I’m learning about you

Day by day

She’s talking about being a teacher and getting to know her pupils but it’s also maybe about falling in love, but I like the sentiment that learning “beautiful and new” things “day by day” feels bright, breezy, free and easy. That’s a good template for relationships of all kinds.

Pitching is none of those things. It’s practiced, formal, and exhausting. It may be a necessary evil for founders as you need concise and clear communications about what you are doing and why it requires capital. But I don’t think it’s the best way to get to know people. Getting to know someone should feel easy.

I like to get to know someone over the course of conversations. My preference is through asynchronous communication mediums like chat, direct message or email. There is something about the volleying back and forth of information that helps me more. I like a back and forth that is informed by revealing thought process but also context and background. I’ll chat with virtually anyone and keep my direct messages open on Twitter because I value conversation so much.

I generally don’t feel that phone or video calls are that helpful to me in getting to know someone initially. I don’t mind short 10 minute bursts. What I do dislike is the planned hour long call for an initial conversation. Rarely am I able to be emotionally and physically present for something like that if I am not already interested or invested in story.

But if we’ve had conversations through Twitter, direct message or email where I have more context and connection then it’s possible I can be present for you. But I wouldn’t recommend asking for an hour synchronous medium as your first interaction with me. I’ll do it as a favor to someone now and again but I almost always resent it.

I’d rather get to know you over time before I’m trapped in a room for an hour to put it bluntly. I promise this is for both of our benefit. You wouldn’t take someone on a two week vacation for a second date so why would you hinge your chance to work or get investment from someone by insistence on spending an hour together right off the bat. Let it simmer a bit. Give me an appetite for wanting to help you. Then you won’t be able to get me off the phone or Signal. I will be your most available investor if you take the time to show me who you are.

So go ahead. Message me. Message a bunch. Send an email. If you don’t hear from me message some more. If I’m being evasive tell me straight me. But the end goal should be that getting to know you is free and easy. And you will be able to tell if I’m excited. Don’t give up. Just keep the conversation flowing like Julie Andrew’s did.

Categories
Finance Internet Culture

Day 220 and Crypto’s Publicist Part 2

Yesterday I wrote about my proposal to create an activist DAO to engage in public relations for crypto. The goal of the organization would be to create a groundswell of support for the space, it’s values, and opportunities as well as engaging in support for a more positive regulatory environment.

If you would like to hear more about why I think it is time for the wider decentralized crypto community to engage in a public relations and media campaign please see my post yesterday. Today I am putting down further notes on what I think our values and priorities might be. As always, this blog is a work in progress so consider this my thoughts as of now that are open to being edited and changed.

What kind of values are crucial in a PR or communication DAO or interest group?

  • Open
  • Participatory
  • Trustless

It’s important that whatever we do on behalf of crypt it must be done in the spirit of the space and why so many disparate types of people believe in its values. While there may be structures like executive teams, core teams, board members and studios and contractors to execute on our mission we want to use the tools and transparency of crypto.

But to what purpose are we organizing? We will create content and engage in conversations to shape media narratives and public sentiment aimed at promoting the positive elements, potential, and impact of crypto.

How will we do this? We will hire publicists to promote our stories in mainstream media along with commissioning content meme-ers and creators to share opinions. We will engage with spokespersons to share talking points created from the priorities of the community. We will place our content, from memes to editorials, on our own properties as well as in supporting communities and member publications.

I expect I’ll be doing quite a bit more note taking and research. If you want to be a part of this effort I’ve started a shared Google doc for collaboration. Email me Julie @ chaotic dot capital or DM me @ AlmostMedia. This won’t be built in a day but together we can push it forward.

Categories
Emotional Work Internet Culture

Day 208 and Boundaries

It’s fairly common to struggle with boundaries. The desire to come through for everyone is strong, but not half so strong as the fear that if you set a firm boundary, then no one will accept you for where you are and what you want. What if love is only ever available on someone else’s term? This is a terrible fear straight from our inner child.

We’ve turned loyalty into a obligation test. But how perverse is that? “If you love them, set it free” is a culturally touchstone for a reason. We want the freedom of choosing our the loyalty that works for us. And we know each demonstration of loyalty means nothing if it wasn’t in consideration of the other person’s boundaries, needs and desires.

I suppose this hit me today because I’ve been astonished to see athletes like Naomi Osaka and Simone Biles holding their boundaries firm. They loyalty to sports, their countries and to us as fans only matters if it’s given freely and with joy. They owe us nothing, so when they do perform as their most elite selves, it’s what’s most beautiful and courageous thing. It’s a feat without ego. Those victories come in freedom.

Prioritizing one’s boundaries and well-being doesn’t need any apology or explanations or attempts to change yourself to fit another, if someone requires obligation on their terms it’s natural to feel invaded.

It’s the most loving thing in the world to set out what you actually want and need. It’s always the right thing to do. We don’t own each other. We each get to choose what’s best for us. And that fear we won’t be loved if we stand firm? Let it go. We always feel safest and most cared for when we know what we are offering is genuinely wanted.

Categories
Chronic Disease Emotional Work

Day 201 and Take It Slowly

I woke up today feeling normal. I wasn’t in any pain. I felt rested. The excruciating exhaustion that has gripped me had lifted.

I was a little bit surprised as I’ve been fighting off a setback that has diminished my physical and emotional state. An infection required an anti-viral that just destroyed me for the last week and a half.

The relief I felt at having the energy and desire to do normal tasks was palpable. I started making “to do” lists and plans for how I was going to use the energy during the day. I bounded out the door at 8am to my favorite trail to get in a walk before the summer heat hit. I came back energized and immediately went to workout. And then I realized I was doing it again.

In my relief to have back a functional body I was setting myself up to be exhausted by immediately over doing things. . My enthusiasm to get back to doing “all the things” would again be my undoing. Some residual guilt over needing to get back to people was on my mind and I used this projected shame right back into myself. What a disappointment I was to people and clearly I must set it right immediately that I’d been late by a week. I needed to respond to startups, catch up on my diligence pile, and email back all the folks in my inbox plus I was behind on any number of fund tasks for Chaotic. I justified these obligations as a reason to beat myself.

I have often struggled with the feeling that I need to work as hard and fast as I can when I am physically well. Part of it is my general tendency towards workaholism. But part of it is fear that feeling well is transient and I need to make hay while the sun shines.

I talked myself down from it and kept a steady pace through the day. I didn’t rush. I took breaks. And I didn’t feel guilty or beat myself. Which was quite a relief. It seems I can learn to take things slowly after all.

Categories
Chronic Disease Emotional Work

Day 198 and Kindness from Strangers

I’ve written about how terribly I’ve felt physically for the past 6 straight days. The last positive day of writing I had was 8 days ago. People have noticed the emotional tone of this struggle.

Generally speaking a day or two of being down doesn’t get noticed on social media, but a continuous streak of being “off” tends to get noticed by your community. Your mutuals know who you are even from afar. Your mutuals see your struggles. Your mutuals may know more about you than you imagine. And I’ve found your mutuals may genuinely care about you.

I’ve never felt less alone than I have the past year under quarantine. Maybe it’s because the network of mutuals that shares their personality and life has spent more time on the give and take of commenting, posting, responding and messaging across social media. When we are forced to contend with our own inner emotional lives we can extend more empathy to others.

So while others may have seen politicization, partisanship and other externalized anger on social media, I’ve found mostly grace and kindness. People who I have never met in the flesh have shared their knowledge, their vulnerability and their network with me. When I have opened myself up I have been met with with compassion and understanding.

If you share a period of struggle and your desire to get out from under it you may not be far from help. The kindness of your community is within reach. Even, perhaps especially, your social media community. If you are hurting share that burden. I have and it is much lighter.

Categories
Emotional Work

Day 187 and Reactivity

I do not back down from a fight. I think quickly on my feet and enjoy pugilist types who are always looking to land a point or a punch. I think it is fun to scrap and throw a hook. But I increasingly find reactivity to be unappealing. The difference between enjoying a fight and being reactive is simple: fighters are in control and reactives are not.

Reactivity comes from emotions. When someone says “I feel triggered” in popular culture it’s viewed as a funny jokey way of indicating that something set you off. But being triggered has a real meaning in psychology. It’s a reaction to a memory, consciousness or unconscious, that is emotional in nature. Generally it’s in reference to something traumatic.

Traumas exist for most of us in our past. When you go back to childhood what we perceived as a trauma when young may not rationally be worthy of the emotional response we have as an adult self, but it is crucial to remember is actually real to the inner child. It’s hard to remember that feelings are not facts. So when you are triggered it’s because you have gone back to a traumatic time where those feelings were absolutely real. But they are not real now.

I used to be intensely emotionally reactive in my twenties and early thirties. I am still physically reactive and likely always will be. That’s a different issue. I’m talking about emotions. When I was younger I was sensitive to being hurt and abandoned. I nurtured codependency and recoiled from those who I perceived as disliking me. Thankfully my godfather noticed this pattern and how it was making me both miserable and unproductive, and introduced me to an old school Swedish family systems psychiatrist.

Now five years into my practice I am finding that I am able to take a beat and assess “why” I am having an emotional reaction. I can track back it’s source to my childhood. I can parent my “inner child” through the reactivity and get back on track. You will often hear me use lots of feeling words. I feel hurt. I feel sad. These help me stop the emotional reactivity. It’s ok to have feelings. It’s ok to express them. But you must be like the fighter. You must as an adult be in control. Your inner child who experiences the trauma as real will never be in control. That’s ok. It is your job to parent your inner child through it.

Obviously this is incredibly hard work. I slip up every day. But I try to work on my self awareness. I try to control my reactivity so my inner child isn’t puking all over the floor. It’s not that I don’t have reactions or emotions. I do. Big time! But I no longer wish to be emotionally reactive. Nor do I wish to be around those who are. We must work on compassion and empathy so that when someone triggers an emotion in you instead of snapping back you work to understand where they are coming from.

Categories
Emotional Work

Day 179 and Invasion

As a child I felt that I wasn’t always wanted. Whether or not this is true is somewhat beside the point. What we feel as children lingers in our emotional profile for the rest of our lives. The flip side of feeling unwanted for me is feeling invaded when someone wants me. Ironic right? Talk about a “careful what you wish for” situation.

To overcome feeling unwanted as a child I developed the capacity to draw attention. Despite wanting nothing more than to be wanted, now as an adult I can negatively when people do in fact want me. It’s a perverse double edged belief system born out of a child’s logic. Because I so badly wanted to feel wanted for so long the hurt and fear of that experience lingers.

I’ve written in some detail about the complex relationship I have with being wanted and the expectations I feel when I am the center of someone’s attention. It’s not an emotional pattern I’ve cleared yet. But I’m trying to notice how it impacts my life. Because if you get what you want you also need to want what you get. I want to be learn to be comfortable being wanted.

If I don’t break this pattern I’ll he caught in the same cycle of attraction and repulsion for the rest of my life. Because I’m not actually feeling invaded in many cases. I am feeling the memory of the hurt of being unwanted. Rather than accept the closeness I said I wanted it feels safer to push it away. But that’s no way to live. We can all break our childhood trauma. So I’ll keep at it.

Categories
Emotional Work Startups

Day 166 and Safe Advice

Mistakes are expensive in the moment but priceless long term. This is why failed founders are so respected and sought after in the startup ecosystem. Their advice is the best money cannot buy. Money literally cannot buy the experience that comes from having utterly fucked yourself.

Sure maybe you lost a couple million bucks but you will never make the same mistake again. And because it hurts so god damn bad you will go out of your way to help others to avoid your fate. I’ve found that founders with failures are generous. They have seen the ways even the best laid plans can implode and want to help you from doing the same.

This is why it’s all the more frustrating for these operators watch a startup struggle to take advice. Speaking as a founder with failures, I know when someone else is about to make the mistakes I’ve made. I feel it in my bones. But it’s not always easy to help people help themselves.

Getting someone to an emotional place where they can hear that they too are about to fuck up their professional life takes love. Psychological safety is crucial to hearing someone else.

I have a theory that it feels safer to hear a hard piece of advice when it comes from someone you know is delivering it without ego. Someone who never seems to have struggled a day in their life tends to evoke our own feelings of inadequacy. Their advice could never work for us because we aren’t as smart, rich, connected or sexy as they are. But someone with scars? Sure maybe they get why this is so hard for us.

Categories
Finance

Day 163 and Favors

Some professional arenas are driven by the favor trading of social capital.

I’ve got a gut sense that this is true on the two poles of commodity products and services. The middle ground has a lot more nuance and is thus less susceptible to favor trading, as it’s clear what drives price and value of service. With complete commodities (identical replacement value) and the non-fungible (not interchangeable or replaceable) there are not simple price or value anchors. This makes it more likely your purchase or choice will be driven by the perception of social capital. We will do favors for those with higher status or by the recommendation of those we trust.

Interchangeable commodity products trade on price, which means favors from across the ecosystem act as the grease in otherwise equivalent deals. Think suppliers of everything from lumber to textiles. If the price is the same maybe you buy from someone you like who took you out to dinner. Or you buy because that person has a good reputation in the community so you use the person your neighbor recommended. This seems intuitively true of commodity services like accounting, plumbing or roofing. Within certain bounds of quality, a 2×4 or a roofing bid should fall into the same bucket so it’s ok to pick whoever feels best. That’s why it’s susceptible to favors and social capital exchange.

On the other end, extremely differentiated non commodity products are equally prone to being tipped by favors. Think professional services like public relations that are very hard to compare. A publicist with favors to trade gets their clients the best coverage. A reporter who has a lot of sources can trade them in to get a quote for a story. Venture capital is one of the least commodified types of capital, a founder will pick one firm over another not just based on the price of a term sheet but whether others recommend them. Reputation matters a lot. Social capital is what gets a deal done, a nudge to consider someone will push you into a cap table.

Not convinced? Think about a product that exists in the middle like clothing from a brand you know but isn’t connected to you in any other way. This is the least susceptible to favor trading or the pressures of social capital.

We can intuit a dress made from quality fabrics and a recognizable brand has a set cost because the brand of the designer is not interchangeable (maybe with others in their category but Prada isn’t the same as Old Navy) and the cost of the fabric is transparent. A silk blouse can’t ever get too cheap on a one off basis. Both the brand and the fabrics set the bounds of the prices.

I didn’t really have a point in writing this other than being curious about what impacts how we pick what to purchase and what sets the bounds of our pricing. We are in a narrative cycle around inflation and work shortages which is having an impact on how willingness to to spend or hire.

So be careful if something seems too expensive but comes highly recommended. Be equally wary if something is particularly cheap even if a friend likes it. Look for the sweet spot of pricing and reputation that is based on market price beyond your in-group.

Categories
Startups

Day 155 and Momentum

Startups don’t really operate on logic, plans or “objectives and key results” to name and shame. Founders and executive teams get really good at planning and strategies only to have it all blow up in their faces. Generating momentum in spite of startups being incredibly resistant to planning is part of the trick.

I’ve been thinking a lot about the emotions that go into that “no plan survives contact with the enemy” reality of startup life. The past two days Alex and I have been enjoying a victory lap after the 1.8B acquisition of his former startup Stack Overflow. It’s a process of mixed emotions and shared experiences with other families that lived it with us.

But one central theme is that nothing changed in our skills, planning, insight or capabilities after we got the market validation. We didn’t suddenly get better and got rewarded overnight. Our plans got exploded like everyone else in startup land, over and over and over again. Till one day it was worth a bunch of money. Now everyone involved looks like a genius. But the reality is that the momentum of startups live a life and logic unto themselves. No one set an OKR for “billions” nor did they plan out a straight line from day 1 on acquiring customers consistently. No one planned out a ten year roadmap for creating enough value or revenue for a substantial exit. No one micromanaged shit for a decade. The momentum just worked itself out eventually.

And yes I’m using the Royal We here but mostly to make a point. Startups and their teams and the entire ecosystem around them are team efforts. Together we turn nebulously ideas into sketchy plans and eventually great things. Don’t get so wrapped up into the need to manage everything so closely.

A graph showing a bell curve distribution. The two outlier “make stuff”

The momentum of making stuff can and should eventually pull you into your goals. So don’t kid yourself all your numbers or plans do shit. Be the Jedi.