Categories
Startups

Day 1163 and Women in Tech

A lot of emotional energy has been directed at the “problem” of “women in technology” in the last decade or two. Stupid campaigns get run with degrees of condescension in which it’s insinuated the only way women could see the value in crypto is if we make a perfume. It’s the rankest form of sexism and extremely effective. And I’ve proudly worked in cosmetics. Chemistry is cool.

So today on International Women’s Day I’d like to remind myself that I’ve l been “in tech” since the moment I fell in love with a personal computer as a young teen. I’m on that edge of elder millennial that did things in the real world as children but had access to the virtual early.

Plenty of men mistakenly assume that because I worked in fashion, beauty and ecommerce. I was early before the ease of hosted Shopify accounts or even Heroku instances for an app. It was a lot more roll your own.

And yet some think my experience doesn’t count. Despite it being a clearly sign of capital markets having underpricing occasionally. Ifs a good thing. You go where market rewards you and you learn to learn skills along the way.

I think so much less about my gender now. Almost resent ever having been talked into it. You do it right then you, like an anyone else in the market, can benefit when someone misallocates.

If you are lucky enough to steward your own capital, then get to be part of the investor bases to build the next generation. I do that now. I am still a woman.

I’m proud to use the resources I have to invest in what I believe in based on my experiences and the thesis I invest under. Not as some smoothed over marketing narrative with a gender hook. No I price like an actor you can do business with. I am willing to show my revealed preference.

I learned in previous eras so I may serve the generation that is coming up. And I’m happy to invest in the ares I believe in most. I am happy as a woman to invest in men as I am in women.

The focus I see in founders I have invested in across energy, artificial intelligence and crypto are ones I believe in. I believe in them as people. I believe in them as founders. I believe in them as men.

I am lucky to be seen as an individual with capital and insights that can help them carry a better future forward. I hope all founders are seen as individuals.

Technology innovation has been the driver of improved human life. Material prosperity is good for women. It’s good for men. So I’ll celebrate doing stuff for the boys on international women’s day.

Alex Miller visiting with me at one of our favorite portfolio company Valar Atomics. I believe in Isiah and his team.
Categories
Community Finance Travel

Day 1155 and On The Ground

It’s come as a bit of surprise to me that I’ve done so much on the ground work in the last two years. Not so long ago I was basically bed ridden and stuck inside for the extended run of the Pandemic. Now I spend half my time on the road again.

Once I was settled comfortably on our homestead in Montana and had an acceptable level of resiliency planning done, I hit the road to pursue my particular brand of weirdo off the beaten path ground work investing.

I cultivate movements, memes, degenerates, eccentrics and engineers. I’ve made many trips to far flung corners of the European continent including extended stays in the Baltics and the Balkans.

You have to experience problems first hand if you are serious about investing in the people whose ideas can have a large enough impact at country, continental or global scale. It’s easy to be bamboozled at the edges so it’s best to be clear eyed about human nature and how technology can improve or harm a given incentive set.

It’s my hope that I’ll put in some face time in other interesting geographically interesting regional hubs. I’ve got Argentina on my agenda but I’ll likely make trips to the Middle East and Singapore as well. If you are in an interesting hub with a desire to pursue ambitious ideas let me know. Maybe I’ll swing by and we can meet.

The emerging network states of culture, affinity and intellect are far flung. The type of free market capitalism preferring decentralized resiliency minded crypto- libertarians are welcomed in as many corners as we are shunned. Either way you will find me on the ground looking for ways to make our incentives improve upon our human natures

Categories
Community Startups

Day 1145 and Vitality

The most gratifying part of early stage startup investing is the vitality. When you are in the mindset of optimism, all things are possible.

I first met Isaiah Taylor about a year ago. We found each other on Twitter. I cold DM’s him with “you seem interesting.” We’d hop on the phone and go through what he was working on in long strategy talks.

I think in our first conversation we spent half an hour just discussing origin stories. We’d both had strongly American west families and we were neighbors in the upper Rocky Mountains. We shared a Christian faith. I liked his style.

Those early rambling sessions when a founder is discovering their market and their unique talents is a precious time. I knew I wanted to invest in him long before Valar Atomics had come into focus.

Ambition and vision are honed over time as you broaden your horizons. It’s the most fascinating tension. The bigger you dream the more you must see your path clearly and pursue it relentlessly. Vitality begins with knowing where to apply your will.

I feel the optimism that Isiah has brought. And I admire how he has taken it to a bigger community. Watching the El Segundo community self-mythologize in real time during this weekend hackathon has been an exercise in collective application of will. Like its cousin in techno-optimism e/acc , the American dynamism “new vitalism” egregore values building for the future.

@ADoricko and @isaiah_p_taylor opening up the Gundo Defense Tech Hackathon via Rasmus

Categories
Startups

Day 1125 and Planting Seeds

I like to get to know founders over time. It’s a canonical piece of advice passed down over venture lore that one should invest in lines not dots. Consider the messenger of course.

I’m sure to founders it can feel a bit self serving of investors to want to see a lot of traction before a commitment. That’s not what I’m talking about. I think as an investor, we have an obligation get to know a founder’s character and their approach to problem solving. Especially if you believe their opportunity to be enormous.

At the earliest stage our responsibility is to assess your capacity to overcome obstacles and to improve your skill sets to match. We need to know you will grow and flourish.

Nurturing a seed is the entire metaphor behind early stage investing. A seed round is such an optimistic name. If we must extend the metaphor that we are planting seeds then the work starts before anything goes in the ground. Good soil, good weather conditions, and the right timing matter a lot.

The anxiety inducing part of this is that my approach years I take time to cultivate potential founders for years. I never quite know when someone will go up for a fundraise. I have to wait and see.

But when it does happen. It’s such a miracle. No finer feeling in the world than having cultivated the right conditions for something to grow.

Categories
Emotional Work

Day 1105 and Other Writing

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.

Categories
Chronicle

Day 1095 and 2023 Round Up

I’ve been sick for the last week and a half or so, so this round-up is coming on the last day of 2023.

As you may have gathered from my title schema, I have been writing every single day for 1095 straight days.

That means I’ve been doing this for three years which is a satisfying achievement. If you’d like see my favorite posts of 2021 here is a link to my first year round up. My round up for the second year of writing in 2022 was quite comprehensive as well.

Below is a list of categories that held my attention in 2023 and the posts I wrote as I tried to make sense of my rapidly changing world.

It probably tells you a lot that the largest sections are artificial intelligence, startups and community. I think this includes almost 50 posts so it’s a testament to how busy the year was that I couldn’t narrow it further. I spent time in Prague, Puerto Vallarta, New York City, Austin, Seattle, Frankfurt, Tallinn, Helsinki, and Amsterdam which is way more travel than I expected. Much of my focus was on investing work for chaotic.capital and is reflected across almost all categories.

Artificial Intelligence

Day 1078 Why We Keep Centering Ourselves

Day 1072 and Math is Leverage.

1055 and Freedom to Compute

Day 989 and Autopoeitic Ergodicity

Day 980 and Beff Jezos

Day 897 and Cruft and Email Bankruptcy

Day 826 and Alignment

Day 780 and Copernican Crisis of Meaning

Community

Day 1070 and Allocating Social Capital

Day 1055 and Shipping, Smoothing Narratives and Making Reality or Effective Acceleration Is About Choice

Day 1053 and Neo Revivalism

1033 and Agency Explosion & The Network State

Day 1025 and Petit Aristocracy

Day 978 and The Great Twitter Unfollowing

Day 932 and Schisms

Day 847 and Erasure in Crypto

Aesthetics

Day 1040 and Being First

Day 1023 and Automatic Doors

Day 1007 and Half A Decade After Premium Mediocrity

Day 961 and Repeating 2003 Aesthetics.

Day 748 and Molly Millions (William Gibson Casting Choices)

Travel

Day 1038 and Travel, Middle Markets & American Exceptionalism

Day 1030 and Helsinki

Day 1029 and Nordic Ferries

Day 1019 and Old Town Tallinn

Day 876 and Americana in Germany

Day 863 and Abstract The Pain Away

Day 749 and Beef in Prague

Economics and Politics

Day 1019 and Tallinn’s Free Enterprise & Alcohol

Day 1010 and Exogenous Shocks

Day 907 and Unaccountable Bureaucracy

Day 904 and Wardogging on Mobile Phones

Day 817 and Mourning A Bank

Day 811 and Hierarchies

Day 807 and Hyperinflation

Day 803 and Killing Strangers

Day 799 and Black Friday in Silicon Valley

Day 740 and Immigration Failures

Emotional Work

Day 1014 and A Fragile Birthday

Day 1000 and Milestones

Day 987 and Eggs

Day 902 and The Singer Lasts A Season

Day 895 and How to Stop Being An NPC

Day 845 and Fucked Fertility

Day 791 and Bathing Suits I’ve Never Worn

Day 784 and Endocrine

Day 731 and Auld Lang Syne Motherfuckas

Startups

Day 1001 and Circumstances Change

Day 970 and I’ll Be Your Publicist

Day 962 and Milestone Based Seed Rounds

Day 939 and Culture Wins Not Culture Wars

Day 906 and Resilience Tech

Day 840 and Chaos Magic

Day 783 and The Alliance (Vanity Fair Magazine coverage of chaotic.capital which is covered in two pieces on the blog)

Homestead & Montana

Day 976 and Chores

Day 969 and Hot Chicks

Day 958 and Civic Engagement

Day 940 and Buying Dishes

Day 856 and Springing Into Action

Day 766 and Weather Station

Categories
Community Finance Startups

Day 1070 and Allocating Personal Capital

As part the part of Twitter called TPOT comes into its own power the topic of resource allocation and how to route projects to sources of capital game up with Brooke Bowman of VibeCamp. It is a key question for Network State like entities that will need to navigate social ties.

I want to share how I do it as I’ve rooted some amount of capital across very different communities. I do it with some sets of intuitions I’ve gained from existing in a very powerful network of interests that are “The Silicon Diaspora” which is a syncretic coalition.

Much of it comes down to very specific context of what others are looking for in terms of outcomes. Investors with a specific thesis are much easier to work with for this reason. I try to express mine clearly at chaotic.capital and express myself actively through revealed preferences. I assume nothing is personal & everyone is working with some amount of emotional reactivity as it’s a human business.

A lot of it comes down to knowing who is a node in your network that can redirect it to someone who believes their resources can see a good return on their goals that are varying levels of abstract and personal. Skills and passions vary and this is good. It’s a mix of social capital, actual capital, and attention and it’s a giant game of inference

Some folks very good nodes and quite open to a range of different types of projects. Sometimes it’s just as simple as asking if they know someone who knows someone. I see a lot that isn’t in my own thesis but it’s in my own interest to pass it to others for whom it might be. The ecosystem approach has maximum strength when it’s played as a multi-agent pro-social game.

Also you almost never know someone’s full history so taking any reaction super personally is something I find to be too much for my own emotions. And I know a lot of history so if I can’t do it I try to make the presumption others can’t either. Be kind but clear.

That helps avoid a lot of accidental feuds that otherwise can ignite if you try to be delicate. I find transparent assessments of my own incentives goes a long way if I express it as part of my own reason for aligning. This is how I’ve worked with communities as diverse as back to the land doomers and crypto futurists to effective acceleration.

This is a fancy way of saying I don’t think “gossip” aka information sharing is actually bad but part of the empathy process of understanding what people want to work on and pay attention to in how they marshal their capital. You intake the values of your coalition and find shared ground. You keep their confidences by expressing collective goals. I try not to overweight my goals in that process. You have to do what’s right knowing outcomes are uncertain.

Showing you understand their context, their fears and their reputations concerns helps you. An act we denigrate in popular culture actually helps you to deepen the relationships as each signifier breaks down space between two people and builds trust. So don’t knock gossip. It has evolutionary, societal and individual benefit. Just remember the ultimate outcome is about bringing people closer.

Day 146 Gossip

I believe we are in an era where individuals can exercise significantly more agency because of the high leverage nature of the tools available to us. We owe much of this to information access and that is a wide coalition of people who are exercising basic freedoms to self determine because of this march of technology.

It’s my belief that freedom to compute is freedom of speech and these digital communities represent what I hope is more effective self governance through decentralization. We must build up the social trust amongst each other by showing we value each other’s interests. I believe this to be the right thing to do for each other. It’s the human thing too.

Categories
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

Categories
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.