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.

Categories
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?

Categories
Biohacking Finance

Day 1009 and Non-Reactivity

I’ve been working on my Q3 investor update all day. I am a little behind my own artificial deadline for it as I believe it’s good to get it out in the first week of the new quarter. I am chasing down a bigger theme in my market insights section that is being refined as I rework my own narrative understanding in real time.

I feel that there is a collective disagreement on consensus reality. We’ve got multiple worldviews that are being hotly contested. Epistemic status humble as the kids say. And so I am doing what I can to get outside the presumed worldview of my own geography and nation and see if a more global perspective is helpful.

But being able to see any of these different vantage points and narratives will require me to be accepting of other competing or adjacent narratives. The presumption is that I can control my own reactions. My body has to be open. So I am here with my Apollo Neuro band sending sound waves to my body while I listen to Endel’s chill program on my noise canceling headphones. I plan to do a Non-Sleep Deep Rest mediation after I’m finished.

I can only give my best performance when I’m sure my body is in a non-reactive place. Parasympathetic is sometimes called “rest and digest” versus its more active sympathetic nervous system partner “fight or flight.” We must assess our world and the many competing perceptions from a place of non-reactivity. It is the only way through the fog of the moment. Never let the stress of the moment distract you.

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.

Categories
Finance Internet Culture

Day 1001 and Circumstances Change, People Do Not

“The last sustainable edge in markets is arbitraging human nature.”

I had the good fortune to spend an hour and a half with an iconic Wall Street investor last week. I was invited to be a guest on Jim O’Shaughessy’s podcast Infinite Loops. I felt like the luckiest woman in the world.

I’m blessed to have Jim as one of my “Twitter mutuals” where I’ve come to appreciate his endless curiosity, deep empathy and kind friendship for the players of the “infinite game” of life. Plus he’s got the strongest gif game in the business. You should follow him if you don’t already.

I’ve been privileged to work with Jim and the OSV team as one of my LPs in chaotic.capital. Being entrusted with capital from some of finest minds in investing has been as intimidating as it is inspiring.

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.

Obviously it’s hard to imagine a better LP than OSV for chaotic.capital. We are deeply aligned in our thinking on agency, agility, and adaptability. As much as I’d love to prattle on here, I’d recommend you check out the very wide ranging conversations between Jim and I. We cover a lot of ground practically and philosophically. I hope you enjoy it.

Categories
Chronicle Media

Day 994 and Good Conversation

There are few pleasures in life as gratifying as having a good conversation with someone. I recorded a podcast with one of my absolute favorite Twitter mutuals and LP in chaotic.capital this morning. I don’t want to ruin the surprise (click here if you do) but it was a very good time and a very good conversation. I can’t wait to share it with everyone.

I’ve had the good fortune to be in a few deep dive podcasts recently if you want a preview of the kind that of thinking and conversations that bring me joy.

I was recently a guest of Frazer Rice’s podcast Wealth Actually to discuss how the venture asset class has changed over the course of the last fifteen years. I was also a guest of Stewart Alsop III on his podcast Crazy Wisdom where we discussed the complexity spectrum of bringing our present into our future.

One of the most challenging aspects of doing the earliest stage investing in technology, and startups in general, is that we simply have no idea what the future will bring us. We have our best guesses.

That doesn’t mean we are flying blind. Like Captain Kirk, I trust some people’s best guesses a lot more than other people’s facts. But the harsh truth is that we are all doing our best with heuristics and humility.

And it’s through conversations with others do we get to improve our best guesses. Sharing insights and history helps us refine our process and worldview such that our knowledge broadens and deepens.

In conversation we share what’s worked for us and what we’ve seen across our own experiences. A good conversation is a pleasure unto itself but it’s also a window into the world of someone else. And I cannot imagine a more joyful way of improving yourself.

Categories
Startups

Day 970 and Be Your Publicist

My day job is as an early stage venture investor. Like most people who do angel investing and pre-seed startup investing, I learned my trade on the job as an operator. I founded and sold some startups. I helped my friends with their startups. We invested in each other. Because startups are primarily about teamwork you tend to hone a specific skill. My super power was getting attention.

That means now one of the ways I support my portfolio of startups is with public relations. I’ve gotten enough personal press over the years I’ve learned a lot about the dark arts. I’ve also had the privilege of being trained some of the best in the business. I’ve picked up skills.

I hope I can help outliers building the next generation of weird companies move past the ‘media is the enemy” phase of public relations.

I’m going to offer up some of my specialty skills outside of my own portfolio. I can’t invest in everyone I’d like to think I can help anyone in the ecosystem who wants to tell a big story about what they are building. I will help you craft a story that can be broadcast far and wide, no matter how outside-the-norm you are.

If your dream is to have a cover story in a prestige periodical, a Wall Street Journal stipple for your expert commentary, or reframe how a story in your space is covered, I can help you plot the course to get there. 

Over the years I’ve done things like

  • Put a VC making her comeback on the cover of a national magazine
  • Secure the keynote slot of the biggest conference in a founder’s industry
  • Guided numerous CEOs through extensive press tours, with coverage blanketing their spaces

I’m not a traditional agency, I’m someone who understands your journey. From financial journalism to trade & specialty coverage to personality driven lifestyle pieces, I can take you from Bloomberg and Vogue to private Discords and influencer group chats. 

During our work together I can help you,

  • Craft your narrative and position 
  • Understand how reporters think and their incentive structures
  • Secure top tier, feature coverage in the places that matter
  • Provide crisis communications support
  • Find an agency (if that’s right for you)

I work on a retainer basis starting at $5,000/month – giving you access to me as your partner through whatever projects or objectives you have.

Consider me your diplomat to the 4th estate. I’m an effective accelerationist capitalist that speaks fluent woke. Reporters know and like me as their savvy crypto libertarian friend that lives on a Montana homestead. 

I’m well known for my doomer optimismYIMBY advocacy for the Montana Miracle housing reformmy digital futurism and, somewhat weirdly, my years in luxury fashion & brands.

Want to dive right into a conversation about a problem you’re having?

Book time with me on Intro and we can solve it

Ready work with me?

Email me at julie.fredrickson@gmail.com