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How to Motivate Yourself to Build (Notes from Jan. 27 to Feb. 2, 2020) July 22, 2020

Posted by Anthony in cannabis, DFS, Digital, Draftkings, education, experience, FanDuel, global, Leadership, medicine, NFL, social, sports, Strategy, Time, training, WomenInWork.
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Nope, I’m asking. Not telling. It’s constantly a challenge.

Let’s see. A will to win. Certain things provide you a much clearer picture of an end goal. In life or careers, there is often always a next step for those that are driven. I know many people that have said it’s not a linear path, and therefore you see steps/ladders that may be uneven. It’s hard to take that into consideration to pursue action, then, especially if you’re back at square one. It must be some secondary motivator that keeps us looking forward.

I have an idea page of things I want to pursue. Talking about potential pursuits may be a first step. Talking with others, another. Writing them down allows a concrete step toward accountability. Then, what’s next? Talk to potential customers, people in the space, people that could be of interest. Design something, wireframe or code out a rough sketch. Maybe it’s something to see how much of a concrete idea it is. Ideas sometimes just need another opinion to spur passion – whatever can provide the spark to go further.

With a next step in a career, an idea written out for the next step can be a good thing. Approaching mentors or potential mentors or bosses (strategically) may be that step of accountability. The more people involved, the more likely that path could be disrupted as incentives to provide clear steps wane. The earlier you find that out, the better. It’s unfortunate but situations and circumstances can change on a whim for anyone, so it compounds with involvement of others. I’ve seen that time and time again with friends.

Now, I hope I didn’t discourage with that last paragraph. That wasn’t my intention. So, here’s some good news – work has become increasingly global with the progression of the internet / web, more so this year. There are more people online sharing, collaborating, open to discussion with minimal work except seeking the communities out. Tools are better organized and more broadly applied to help, and more people are generally sharing their experience for us to pattern match or adjust. Action is the step. Or asking what the action may be. Take it together.

  • Coach Paul Alexander, Josh Hermsmeyer (Wharton Moneyball 1/22/20)
    • If you pit OL vs DL – OL is more reliable, similar to pitcher vs batter and pitcher wins
    • Beane in Moneyball – didn’t have money to spend so he wanted to get shots at college players since they were less random
      • PFF using survival curves (as time) for measuring lines (from PFF data scientist Timo Riske)
    • 16 of 17 INTs for Mahomes has been < 5 rushers
    • Coach – more hand-oriented now in passing game than leg-driving or shoulders for the evolution of run blocking
    • Josh – turned his attention to music and predicting the first song for halftime show
      • Prop from last year – how long will the national anthem last?
        • Over time, singer spent on song increased (ARIMA model) and he looked at male and female but female was longer at end
        • Gladys ended up going over
      • Billboard is predicting JLo’s most popular song – 20% as Let’s Get Loud or On The Floor (books, too)
        • Acts don’t often start with the most popular song, they end it
        • Setlist.fm as going through common starts
      • Game plan to push as many in the box with the numbers advantage, force Jimmy G to beat them
    • Some quantitative coaching models at PFF and other places
      • Mostert as the 2nd fastest athlete in NFL at the line, behind only Lamar Jackson, by mph
    • Helpful to sit behind someone as QB? (Jimmy, Rodgers, Mahomes) but counters as Peyton (thrown in), Steve Young
      • Qb as living embodiment of the system, not necessarily ‘system qb’
      • When do we get a handle on a QB?
    • Owners as billionaires that earned money in a different industry and hope to be able to transition to teams
      • Experience may or may not come – putting right people in there, getting lucky with all of the processes
      • Little edges, enough chances and them adding up together to finally have success while living through the ups and downs
  • Ian Levy, Michael Hill (Wharton Moneyball 1/29/20)
    • Super Bowl week, Kobe Bryant death – Shaq statement and Kendrick Perkins clamoring for hatchet to be buried with Kdurant
    • MJ’s 3 and 2 years off and then another 3 – only had Scottie as the overlap of players
      • Kobe – 2 rings but 3 straight finals with Pau, sans Shaq, Lebron – taking some poor players and winning rings
      • Teams and styles that have changed to give credit to the great ones
    • Sac down 17 points with 2min 49 sec – broke a streak of 8,378 straight games of losses
  • Dr. Shaili Jain, Prof of Psychiatry & Behavioral Sciences, PTSD Treatment, author of “Unspeakable Mind” (Wharton XM, Future of Everything)
    • Father was a war vet & born in India, Shaili grew up in England and what she ever knew
    • Muted emotions, insidious infiltration of how people work, play and create beyond mind and brain
      • Infiltrates organs, independent risk factors for heart disease, cancer
    • Too many factors, 1/3 genetic (not on marker-level, though) to determine PTSD levels or exposure
      • Dose matters – more deployments = more likely, and cumulative effects
    • Average clinicians outside of VA have a tough time to diagnose & treat whereas vets and exposed know where they can see it
      • Adherence is much lower in people with PTSD and this is massively under-recognized
    • Last thing people want to do is talk to therapists – avoided trauma or be cut off, isolated
      • Health problems often make them lose control
    • Hippocampus is smaller in those with PTSD (not sure if it’s cause or effect), amygdala (part of brain that controls danger)
      • Lot of work done in epigenetics, learned behaviors and environment (followed moms that were pregnant during 9/11, escaped)
        • Work done by Rachel at Mt Sinai to follow their children based on biomarkers – PTSD in them/child
    • Her take – future is in prevention on three levels – primary, secondary and tertiary
      • Primary: prevent the traumas and crimes
        • Lots of people were starting programs that FELT like it worked w/o evidence or metrics for them
          • How do you train women to defend themselves effectively? If you have it, you can scale and replicate. Still need $
      • Secondary: before and after trauma – “Golden Hours” – can you intervene to prevent onset of PTSD?
        • Showing up in ER, instead of waiting for weeks/months/years when they show up to a therapist
        • Group out of Atlanta’s Emory University in the ER that did RCTs to show those that got prolonged exposure medicine improved
          • Cortisol recipients had less PTSD compared to those that didn’t – brain can heal quickly, comparatively
      • Tertiary: integrated care – 10 years prior, she ditched her other-campus psychiatry office to primary care
        • People show up in primary care, not often in specialty offices, attack head on
    • Treatment – first line, standard therapy would be talk therapy (prolonged exposure, EMDR – eye movement desensitization & reprocessing)
      • Focus on dismantling trauma, discussing the event
      • Biggest body of evidence for this being successful as first-line treatment, discussion capability without emotional/physical stress
        • Exposure exercises – measurable body response
      • Meds as second-line treatment (prozac and friends)

Best Ways to Push People to Create (Notes from Jan 13 to Jan 19, 2020) June 30, 2020

Posted by Anthony in Automation, Blockchain, Data Science, Digital, education, experience, finance, Founders, Gaming, global, Hiring, Leadership, marketing, medicine, NBA, social, sports, storytelling, Strategy, Time, TV, Uncategorized, WomenInWork.
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So, my title is a bit misleading because I don’t have the answer. It’s a bit annoying. I have many friends and family members that will cite an interest in making something, or even more generally, wanting something to be made. I try to encourage if there’s even an interest of a consistency in what they’re looking to do. It’s worth sharing if they enjoy it. Encouragement isn’t the part that’s lacking. There’s an accountability or fear of not having the time be worth it.

To me, that’s a bit of a weakness. Sure, you can be scared that it won’t be monetarily advantageous to do it – but that’s the part where your own curious/enjoyment makes up for it. If you’re interested, you may be more likely to generally share and stay consistent than if you’re not. Immediate gratification doesn’t go hand-in-hand with consistency, though. And then the starting point usually has a bit of work. All of this adds up to psyching oneself out before ever starting. All the while, we continue scrolling to the next thing, wondering aloud how nice it seems to be sharing something that we’re moderately interested in.

  • Peter Guber, Dodgers/Warriors co-owner (KindredCast – WhartonXM)
    • Lion Tree CEO Aria Borkhov with Chairman/CEO of Mandalay Entertainment, 4 sports teams
    • Hollywood productions for 5 Best Picture nominations (Rain Man winner), Midnight Express, Flash Dance, Batman, Soulsurfer
      • “Tell to Win” best-selling author
    • Also owner of Team Liquid and LA FC, professor at UCLA Anderson, Media
    • Recorded at the end of WS 2018 – never before having World Series Game 7 at Dodgers stadium
    • Can’t just make hits – ups-and-downs are part of the journey, can’t fail will make it so you don’t have success
    • Missed out on Dodgers originally when McCourt was buying from FOX, but asked to put up money at last hour, so he backed out
      • Magic brought him in 9 years later and he was more familiar since he owned the AAA team in Oklahoma City
      • Culture providing leadership and top-down, being managing partner
      • Bring best talent, resourcefulness, undervalued performance from someone as surprises, having a long and short-game
        • If short-term doesn’t work, the long-term rarely is cared for
    • Caring fully for his team – listen to the audience and imagine their experience is theirs and creating relationships
      • Crucial since you can’t get another audience every time – music, movies, sports
      • Brand affinity as breeding success – crucial that word-of-mouth is more powerful than a 30second clip anywhere
        • Looks at it like bond / what the product means for people
      • Audiences expect experiences (how do they feel, what’s the benefit, life) – customers/consumers are looking to spend only / wallets
    • Media – Game 6 had 2nd best since 2009 for viewership
      • How do you get technology into media? Twitter paid $10mln with football, Amazon paid $50mln, Facebook with MLB
      • Linear broadcasting – audience getting every media at once, same way – can’t act on it (analog to digital)
        • Know the individual audience, can talk to friends/you directly – interface with social group, react and a participant
        • Cultivate participation – don’t know about all people generally but now, know the particulars
      • Digital natives – always growing, never had cords – companies need both linear and digital sense
      • Dancing with the enemy – like to kill the other, one is an ally/adversary at different times
      • Can’t take an analog advertisement and plunk it on to digital – won’t be the same
      • When he was in China doing business, he had to go through an interpreter – didn’t have the same feeling/attitude
      • Each sport has unique challenges (and movies) – movie-going has turned into “going to a movie”
        • Driving away from habituation (movie on Fridays) vs (“Let’s go to A movie”)
    • Narrative of baseball – can look at different things, fantasy, play-by-play and story
      • Basketball is rapid so you have to address down-time in a different format – paces are more important (digital can help)
      • Gambling will introduce a new evolution – betting on emotions, last-pitch, blowouts will be important still
    • Esports – Team Liquid in SC2, LoL, HotS, Overwatch, Halo, CoD, DotA
      • True digital native and a culture change – lifestyle connection is different
      • Became invested in technology after joining Sony and his unique way – his life is connection of artists and audiences
        • How do you create value and multiply value?
        • Consumption with esports as 3 things – expansion, underserving market, global, participatory (could play along)
        • Esports as the music for 18-25 now, lights up their heart (“shut off that music”), engagement attraction
      • Have to understand the language, special – challenge to make money
    • Escape velocity for colleges and training, scholarships – getting older
      • Only got into esports Mark Merrill (Riot Games) came to leadership course and was talking about League of Legends, lit him up
    • Advertising planning, consumer information, still very early
      • 1 to 1 engagement is the biggest difference – 1 to many probably outdated or less effective
    • Made a long bet on VR – 5 years ago – they’re the director – mediators give you the meaning
      • Technology as existing for PoC for phone call where you could turn the fight or a game on
    • Fav movie: Godfather 2, Witness — Fav person: Fidel Castro when Peter was doing a show on diving
      • Unbelievably interesting (Castro)
    • Reading: Sapiens (rec for Undoing Project), Thinking Fast & Slow
  • Amy Abernethy (@DrAbernethyFDA), Principal Commissioner of FDA, Vijay Pande, GP on Bio Fund at a16z (a16z Podcast 1/14/20)
    • Food, Drugs, and Tech – 100 Years of Public Health
    • 113 years ago formed out of 100 laws – hygiene issues as science-based agency
      • Safe and effective medical products to be used with your patients
    • Have to come up with flexible mechanisms to avoid and take risks when appropriate
      • Risk-based scientific decision-making, review and expectation of certain risk in products
      • Hepatic failure, may take a person’s life, urgency of problem with number of people of impact, public perception/expectation
      • De-risk: try to ensure pre-conditions are met, toxicity, consistent expectations around clinical effectiveness
    • How does FDA (mentions possible show for crises a la CSI: FDA) deal and think of crises?
      • Medical products could have any crises issues (animals, vapes, food, drugs, biologics, devices, cosmetics)
        • Distribution of potential crises are very real – opioid crisis as slowly creeping up – as information accumulates, problem ID
      • Agency – action plan for several parts on what FDA responsible for
        • What can they do to reduce problem? Reduce patient tablets accessible to, for instance.
          • Can increase methods for access for patient-informed labeling.
        • New treatments for pain and solving problem otherwise
    • 20% of international GDP regulation under FDA and 15% of food imported so needs to be safely labeled, available in country
      • Investigate trucks across border that aren’t available over borders
      • PREDICT program – 10 years old rules engine where they are most likely to have unsafe food
    • Drug shortages – have intervened ahead of 160 drugs for shortages there along with the opposite – what happens if there is one
      • Food-borne illnesses to avert problems and they have these discussions in the morning
    • Kits off Amazon for CRISPR – dog glow in the dark, for instance
      • CAR-T as T-cells to re-engineer to supercharge and put back into patient
    • Improving software products that help the world of controls
      • How does FDA think about data privacy and ownership?
        • Practically, proprietary information and confidential. Drug surveillance that might be more publicly available.
      • In CIO role, she wants a Chief Privacy Role – when brought up, data even in HIPAA may be re-identifiable
    • Platform trials – enabling features within 21st century cures
    • Some company/investigators not wanting to subject only product into clinical evidence framework to figure out – especially only shot on goal
      • Taking a while to determine this
      • Medicare Modernization Act of 2003 – contemplation of new payment delivery models, Institute of Medicine research for digital infra in 2007
      • 2008 – GFCrisis for stimulus bill to get the High Tech Act for full-scale distribution of Elec Health Records in 2009
      • Nov 2016 – 21st Century Cures got pulled from shelf as they tried to figure out which was bipartisan opinions
    • Food – FDA part, genetic engineer and synthetic biology – talking with USDA to draw the lines here
      • With new innovations, do we need to change regulatory paradigm?
      • How do we ensure consumers know what’s going on? Labels / consistent language (ex: almond milk)
    • Smarter Food Safety – possibility for each food to have a full supply chain that we can check on (whether app-enabled, blockchain)
    • For future of FDA – far more processes automated using the glut of more data
  • Seth Walder (@sethwalder), ESPN Sports Analytics Writer; Alexandra Mandrycky, Dir of Hockey Admin for Seattle (Wharton Moneyball, 1/15/20)
    • Plus minus for receivers, how the NFL will do statistics
      • Different than hockey +/- but far more team-involved
    • Talking an Analytics Coverage for the CFP Championship – what is advantageous, expected, etc
      • Good sports information – bettors can make it as they will – actionable or not
    • Daily Wager show – betting and sports and new statistics
      • “Sacks created”, for instance – Zendarius Smith, lead league with 20+ and we’re double-teamed the most often
    • Sherman as only targeted 14%, very low for outside corner (one side only – right side)
    • Quantitative Analyst, Danny Chu for second person on the hockey side
  • Cynthia Medina, Founder & CEO of WAGER (Women at Work, WhartonXM)
    • Pay equity discussion – safe space for transparent talks
    • 15 years as exec recruiter, talent consultant, leadership coach and technical recruiting
      • International relations and policy expert for DoHS, Treasury, JPM
      • Served in Peace Corps as well, and founded Cheeky Monkey (women who don’t want to network)
    • Thinking in 3-5 year intervals for Jones C Mitchell – personal level for Cynthia, though
      • Short windows of time, managed by feel – not vision
      • She has 29 aunts/uncles (parents of 15, 14) – curiosity for her but not overall something she was chasing
      • 0 had gone to college, first in family to graduate, get a passport, live abroad
    • Lots of layaway for Kmart (waiting 6-9 months), also used to visit Puerto Rico every summer with family – layaway, also
      • Friend group established college as a norm – chose Georgetown since her uncle liked the basketball team
      • She had no sense of the power structure in the US – information and what she was learning
        • Pushes people to apply to hard universities – to be able to make change
    • After college – didn’t have a job – got an internship, needed to know she could do it without help
      • Finance area for GAP HQ, could do it (had stayed on a couch initially when she went to SF)
      • Then, decided what she wanted – went to Peace Corp and was the “chicken girl” in Nicaragua
        • Taught how to make a business with microlending loans ($100)
    • After Peace Corps – big picture idea for what’s next? Same person – senior year teacher who told her to apply for GU
      • Applies to Harvard – needed a big push – elevating yourself on your own, focus on international affairs
      • Friend at the time was in the area for 9/11 – saw / felt things on 9/11, so 9/12 she went to NY and been with her husband since
      • Felt like she’d done enough for herself, now wanted to serve again – worked for NYPD CT unit, Treasury – anti-terrorist financing
        • Latin American policy expert for the anti-terrorist work
      • She was in DC, husband in NY at the time
    • Started a family – husband had to go to SF for his job, 1 child (3-6months but turns out to be 2 years)
      • Everyone else was happy, now time to do what she wanted
      • Wanted flexibility, good at basics, people – razor-like skills on interview process (first for free, then charge)
      • Told what she was doing, advertised it, did her LinkedIn
    • Driven by wanting other people to feel content. Having lots of conversations with people who aren’t doing it correctly
      • Asking for right amount, not asking for what they should get
      • Let’s keep good people by being radically transparent – telling husband that she wished all salaries for two days were public
        • Husband, a manager, gave reasons against it (creates more work for managers) – jealousy and infrastructure
      • She BCCed 500 friends – sent email to pair people for salary conversations (1:1) in industry
        • Send LinkedIn and tell her how much everyone made – nothing happened for 12 hours
          • Men, often, would say it’s too personal / we’re good / exec-level where info would be adversely used
          • “My wife doesn’t even know how much I make”
      • Example for 2 people who are now friends of hers – exec woman, exec man – he was making $100/hr more
        • She didn’t want to know how much he was making (he offered)
        • Big data problem – once you know, you have to do something and that’s often where people will fall off
        • Creating database, sheets and sharing this – nothing to do with action / companies doing different things
    • With more data, what did she discover and finding the needs?
      • Certain industries, large pay gaps – media, marketing, certain places
        • conversation / article at Google – same levels, women > men but because they were staying longer at levels
      • Making the same in cases but women felt like they didn’t have the same respect / something they weren’t getting
        • Baggage conversations still – persistent imposter syndrome, even when paid well, still work to be done
          • Ability to self-advocate is always around – empowerment to demand space
      • Does workshops out/in companies – compensation with employees in large companies (inc. tech)
      • Example: new shift to tech company – not CEO but 2nd in command or “I’m young”
        • Often hear “well my husband makes more than enough so I don’t need to push”
        • “Money is not as important to me” – don’t see it as failing, afraid, embarrassed to say they want more, know I’m great
      • People will justify when CEOs or execs leave, company wants to bring in diversity hire and pay 60% – women go in to find
    • Have to ask what you want? If you want to be a manager but haven’t managed anyone.
      • Is there an ability or opportunity for you where you want to be?
      • If you don’t know what you want – someone will put you where they need you.
        • Haven’t made a decision. If it matters for $125k to do these 4 things, need to make actions to get there.
      • She likes helping people negotiate when they don’t have to – “have to” in short timeframe – next job is when you get promoted
      • Networking as you build relationships before you need them – started Cheeky Monkey because of motivation and clients
  • Elroy Dimson, Emeritus Professor at London Business School, chairman at Centre for Endowment Asset Management at Cambridge (Meb Faber #100, 3/19/18)
    • Author of Triumph of the Optimists – producing the indexes, small cap 100 in London
    • 10 countries, a century of data, including the UK for returns
      • Found lots of researchers had general interest in more financial returns historically and added them to the book #2 (2000 years Millennium Book #2)
      • Optimists were those that invested in common shares over bonds/T-bills in companies, which is why they named it thus
    • Found out that about 80% of industries that existed at start of century disappeared, and 2/3 of those that exist today didn’t exist then
    • Bond market in 1900 existed of some bonds with short maturity like 6-8 years, or in London, had perpetual bonds
      • Composition of mutual fund then vs now – always changing, industries decline and come up
      • Very few survive over the long term – perfectly viable investment strategy as changing
    • Countries that were utterly important – assets survived but ownership changed completely (1917 – Russia and 1940s – China)
      • Making the World Index, history for each country, assets going to zero and Index as the same
    • Idea that economic growth, GDP growth and stock market returns – discovered a negative relationship between them
    • Thinking about valuations – market caps (Japan in 1980s as biggest, US as 50% now)
      • Market cap-weighting as only consistent one
      • Interest rates in 21st century have been way down, real interest rates TIPS / inflation-linked bond of 4%
        • Average now is negative .5 %, promising $1 now, < $1 back later. Gordon model – value of a financial security = D / (r – g)
      • Focus is on real interest rates, nominal is adjusted by inflations in each country (which can be different)
        • Real interest rates were lower in 1970s (minus 10% when inflation was 25%+ and yields were 10-15%)
        • Negative real interest rates are about 1/3 of their 2000+ country years (118+ years, 20+ countries)
          • What’s different/rare now – low real interest rates with low inflation and low nominal interest rates
    • Want to bring currency back – most is driven by relative inflation compared to the US – long term it protects you, short term, hurts
    • Tilting away from market cap-weighting, seeing other factors that may or may not make sense
      • Factors measure exposure to attributes of companies (relative size, growth, otherwise)
      • Some factors have a reward – growth companies do well (no premium), value companies instead that show reward
        • Rewards for exposure to particular factors (in hindsight, clear) may not sustain into the future
        • Smart beta, Five Factor model, liquid common stock vs illiquid maybe (mutual fund wanting liquidity may take lower return)
    • For his book’s update, added a new chapter for Global Investment Returns Yearbook
      • Looking at durable, tangible assets – real estate is smaller (domestic aggregate real estate is smaller)
        • Expected return on housing – between financial return for long-term bonds and equities
          • Expected volatility is also in between those
    • His grandmother had a wine shop, he’s done studies on investment returns for 1900 on, postage stamps, wine, etc
      • Best wine as Claret, First Growth Bordeaux, Premier Cru
    • Best investment – his education, PhD at LBS and then Cambridge

Organizing the Mind, Studying (Notes from Dec 9 to Dec 15, 2019) May 6, 2020

Posted by Anthony in Automation, Data Science, Digital, education, experience, finance, Founders, global, Hiring, Leadership, medicine, questions, social, Strategy, Uncategorized, WomenInWork.
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As I try to stay organized overall, and especially in our current environment, it does seem that I have hit a snag in where/how to curate all information. I’ve attempted to settle on Roam to do notes since it keeps bi-directional links and essentially enables a personal wiki. However, this is awesome once we get to enough notes/details/lists. It’s a pain in the ass until then because it’s just not set up.

Until I get to the point where I can export all of what I want and stylistically group it, it will be a very large work-in-progress. Why? Well, I started to list a few things of what I like to keep track of. Here’s a few off the top of my head:

  • Notes from Podcasts/Webinars that I usually keep in OneNote (top include 20min VC, FinTech Insider, a16z, Wharton Moneyball, The Indie Hackers podcast, among others)
  • Book notes that are either in OneNote if they’re older or, if in my Kindle, potentially on Readwise/Overdrive
  • Daily/weekly updates including investment research via Crunchbase, lay of the land from a16z, Futurism interesting stories, StockTwits Daily Rip, Makerpad/Product Hunt updates, as well as Beta List products
  • Newsletters and Trends – Morgan’s Blogging, Nat Eliason’s Medley and other notes, Justin Gage’s Technicality, Trends report from The Hustle, Polina Marinova’s The Profile
  • Then there are the finance and investment articles that go to my RSS feed (OfDollarsandData, Ritholz, Datanami, Tomas Tungaz updates, plenty of others
  • Last but not least – bookmarked websites, Twitter likes/bookmarks that I just don’t get a chance to go back to, GitHub starred pages, anything shared in Slack or LinkedIn groups

How the hell do I organize all of that? Well, we’re trying and I’ll update you on where we land. All I know is that I should curate it down to my favorites or just try to learn less. Who wants to do that, though?

Week of December 9, 2019

  • Yaron Kniajer, Jared Kash, Cofounders of Sababa Ventures (Wharton XM)
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    • Discussing how safe and nice Tel-Aviv is
      • Rising of AI and tech in Israel ecosystem
    • Bridging the gap between entrepreneurs and investors
    • Talkspace – mental health app from Israeli creator
    • 18 million in revenue to New York, knowing the market and opening doors
    • Host, Randi, is a GP
  • David Sinclair (@davidasinclair), Prof in Genetics and Aging at HMS (Kevin Rose Show, 10/30/19)
    • Cofounder of 7 biotech co’s, co-editor of Aging journal, boardmember and 25+ patents
    • Book – Lifespan most recently Book link
    • Genes in yeast cells for aging while 29 entering Harvard finding red wine part
      • Media swinging from “wow we’ll live forever” to the opposite
      • Mice had a healthy longevity even if obese on wine part (caloric restriction without)
    • Sirtris Pharma – 2004 started and focusing on activators of Sirtuins – GSK purchased in 2008 for $720mln
      • 2010 people at Pfizer and Amgen published saying their research was wrong
      • 1 amino acid and 1 protein in living mouse as not living longer for resveratrol
      • Scientific debate limiting patients, potentially (needs to be taken with fat / drug-like molecules at GSK)
        • Patent life is 20 years and he doesn’t have the extra $20mln to get the clinical trials going again
    • For his book, we age similarly to yeast cells aging – loss of information (1 is genetic and other is, fragile, analog)
      • Backup copy of information for aging / cells came in 2018
    • Claude Shannon as one of his heroes – backup copy, need an observer and the rest of backup (when he did computer science/internet)
      • Remembering in 1999 that he woke up in middle of night to write out the theory of aging
      • Gene therapy doesn’t work in the eye – compared to a clock for memory of time, cog, removing hands or resetting
    • Nanoworld and subatomic in DNA – if secret is there, Methane compared to subatomic
    • Going as fast and safely to get it to humans – eye regeneration for a few cases
      • Nerve crush (spinal damage), glycoma in mice and restore vision, 1 year old blind mice with gene therapy can see
    • NAD and InsideTracker for genetic results and following the mixture / output
    • Nuances to how CGM and monitors react to individual foods (brown rice vs others, for instance)
    • NR, NMN and NAD checking for longevity and how to raise NAD
      • All cells need NAD to grow – if you put them up to levels of younger, you likely won’t cause cancer
      • Guesses for couple hundred thousand people on NMN supplements and nobody has died, to date
    • Pulsing and hormesis – what doesn’t kill you makes you stronger
      • Information on trees where older ones will send a notice to younger ones that a danger is coming
    • His father as 80 and healthiest in a while – post-stroke, heart attack and had heart disease
      • Taking metformin, NMN, resveratrol for a bit now
      • 500mg metformin with resveratrol and yogurt (stomach gets upset a bit) in morning – may have some in evening
      • 1g a day of resveratrol – 150mg typical (he mentioned knowing 14 years of research on animals, toxicity and human trials)
        • Min dose from animals at 250mg typically – liver enzymes are fine
  • Ryan Caldbeck (@ryan_caldbeck), founder & CEO of CircleUp (20min VC 2/11/16)
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    • Online investing platform that allows to invest in consumer companies
    • Previously, worked in consumer product and retail-focused p/e at TSG Consumer Partners and Encore Consumer Capital
      • Hundreds of investment firms that love consumer retail and its returns, love cash-flow characteristics, only after $10-15mln revenue
      • 3.5x average in ~4 years for younger companies – not enough money in that space
    • Crowdfunding as group of people coming together to fund something (debt, equity, product, donations)
      • Separate as an investing platform so the investors should thrive
    • Title 3 of JOBS Act – if company raises capital there from non-accredited investors, the hoops you have to go through aren’t worth it
      • Less cost to going with accredited investors without benefit – Title 3 will require the yearly book opening
        • Majority of companies don’t need the significant amount of users 100-200 to make a dent in what they’re looking for
      • Would have to prove to a company before taking on the cost – more likely that companies will fail at accredited investors and go to unaccredited
        • Maybe a tech raises up for the inefficiencies to solve this, but not so far
    • Lack of institutional capital in the sector of crowdfunding – for Ryan, explosion of institutional on the platform
      • Average in 2012 was $12k individual accredited to 2015 where the check was $100k into one deal and half is institutional
        • Similar to LendingClub growth as individuals to ind, then family offices, small funds and larger funds
    • Seed round was with Maveron and Clayton Christenson after ~60 some investors that passed (hard to get them excited)
      • Union Square had said they would never invest in online equity investing platform and changed view for Series A – marketplaces solve need
      • Series B was 30 days from start to invest and series C was easier
    • When someone else doesn’t believe in him, he further believes in himself – energizes him (when teammates believe in him and opponents don’t – at his best)
      • Very small details for most meetings that are still vivid for him – uses as fuel
  • Arielle Zuckerberg (@ariellezuck), Partner at Kleiner Perkins Caulfield & Byers (20min VC 2/14/16)
    kpcb

    • Joined in 2015 and focuses on early stage investment in digital practice
    • Started as PM after CS and Philosophy at Claremont McKenna
      • Wildfire Interactive acquired by Google in 2012 where she then worked on social ads
      • then went to small startup called Humin for 2 years and started angel investing
    • A lot of investments since you chase after 1 company that likely returns the portfolio
      • How to evaluate the team, market, differentiated product, terms of valuation
    • Being a great listener – give them feedback and they would come back every time with a better pitch
      • First few months of venture – personal challenge for thinking of people based on their intellectual capital
        • How can they be helpful? Will this person be helpful toward portfolio? Will this person be a potential founder?
        • Struggles with this as she’s becoming more transactional. Didn’t experience it as an angel investor.
    • While interviewing for firms, many people offered to give her introductions (warm, mostly)
      • Small handful of interviews – conversational in nature, questions on background – what motivates her and how she’d fit
      • Taking Tyler’s class gave her energy for VC
    • Google, AI and CV – AI as a service – ubiquitous as in the cloud
      • Many industries being productized for first time – likes blockchain and smart contracts
    • Goals: Source a deal for Kleiner within a year that will have invested where world is better place/impactful
      • Inspire more women to be in VC and female founders – although talked about finding and talking with many women in VC
    • NYE: blog more for 2016, had concrete resolutions for doing a pull-up and moonwalk – did at firm holiday event
    • Favorite book: The Symposium by Plato
    • Respecting founders who have a belief that others don’t really have – ex: Evan Spiegel as phones being more a camera than anything else
      • John Doerr and Mary Meeker
    • Best part of VC – talking to amazing people and hearing other opinions (as youngest of 4 siblings)
      • Introduction of creative conflict, vision for where future is going
    • Firm’s recent investment – team execution is crazy, tons of time with customers, great listeners, improved deck 20% each time
  • Barry McCarthy, CFO of Spotify (former CFO of Netflix), Stacey Cunningham, Pres of NYSE (a16z 12/10/19)
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    • Direct Listings, Myths and Facts – architecting the direct listing as it currently stands and how they talked to the SEC
    • The Street interpreting compared to guidance and what to expect – analysts wanted to BEAT guidance instead of get something close
    • Pricing inequities – price discovery in direct listings compared to offerings
      • Large portfolio (AUM) has IPO immaterial – first day pop is meaningless and they have limited ownership in IPO but not direct listing
      • Institutional investors can dump the truck for direct listings for how they want
    • Lock-ups are artificial constraints
    • DMMs and financial advisors exist anyhow – still need s1 and filing/investor days involve same people
  • Michael Salfino, Ben Baldwin (Wharton Moneyball 12/11/19)

If You’re Not Sure, Ask (Notes from Nov 25 – Dec 1, 2019) March 26, 2020

Posted by Anthony in Automation, Digital, education, experience, finance, Founders, global, Hiring, Leadership, marketing, medicine, social, sports, Strategy, Uncategorized, WomenInWork.
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Hopefully everyone is staying safe in this current environment of CoVid19. A wild start to the year and March, especially. Seems prescient to identify those of this week of notes, especially with Domm at Fast trying to make things easier/painless in checkouts for ecommerce, Iman at Incredible Health trying to gain power for nurses and the healthcare workers on the front lines, as well as the investment questions we should be asking with Rob Carver and Meb Faber.

Before jumping in, though, I just wanted to reiterate something I’d heard in a few times across forums/channels and communities I participate in – just ask if you have a question or hesitating! It’ll be worth it – or you’ll be in the same position you’re in now. Social interaction and discussion will be key in how we come out better than where we started. I implore you – ASK. Anyone. Hope you enjoy!

  • Domm (@domm) Holland, founder and CEO of Fast (20min VC 11/15/19)
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    • Raised seed round from Jan Hammer at Index, Susa, Kleiner Perkins, Global Founders and angels (Inc Harry)
    • Director at Tap Tins and CEO/Founder at Tows
    • Introduced at 15, started programming and in Australia when it wasn’t cool, building was what he enjoyed
      • Had a large startup in Australia for a bit
      • Wife/him were in the hospital looking after son/daughter and he was home with the wife’s grandmother when she couldn’t order
        • Forgot her password and wouldn’t take credit card because of arbitrary string – pw-less solution, auth as simple solution
        • Put it on ProductHunt and it was #2 for the day
      • Doesn’t make sense that customers can’t move between businesses with their authentication
    • Ran out of money in a legal battle with Tows – $17mln that government decided to not pay
    • Many people don’t want to solve the problem – they do band-aid fixes, complex solutions
      • Build network of independent contractors of tow trucks
    • He just looks at what he’s doing as solving problems, solutions – Stripe gave businesses the infrastructure to process credit card payments
      • Built critical infrastructure that others didn’t have – similar to authentication, Shopify, etc
    • Everyone has been building payment, authentication, registration forms all first-party and customer tokens
      • Alternative business models and sharing data conflicts with their independence
    • Deciding to be SF-based – he only has certain hours in a day, but limited output and larger market and tech companies
      • People in SF value equity far more since Australia has issues with company stock and issuing options
      • 50, 100, 150 bp in SF to make it worthwhile
    • Had done an angel round of $600k Australian, ~$400k to continue product development and areas he didn’t have expertise in
      • Put out job ad for remote role thinking they’d get 1 or 2, had a fantastic applicant from Nigeria for talent
      • Money was so much less than what was budgeted – average earnings, paying 50% above market and fantastic employee
        • So much so, they have 10 employees there – Nigeria with 190 million people, remote and solid advocates
      • Managing engineers in person/remote are similar anyhow – adjusts his time zone to them, checks in to each daily
      • Structured time for functional areas and 15min calls to go over work regularly
    • His differentiator is speed, time – act promptly, efficiently and doing things early by operating in that manner
      • Walks 3-4 miles through Tenderloin in SF to make sure he sees inaction as a reminder
    • Thirst for knowledge – difficult to not come across new things (Twitter as a tool for exposure to people, tools)
  • Frank Fiume (@frankfiume), Founder and CEO of i9 Sports (Wharton XM)
    • Talking about burnout – body’s anticipation of requiring a form of change
      • Entrepreneur burnout – results not meeting expectations for an extended period of time
    • Using behavior tests to filter out the people who may be too similar once you’re looking to hire for expansion
      • He made mistake of hiring people he liked and matched with, as opposed to those that he needed
  • Meb Faber (@mebfaber), founder of Cambria Investments on The Road Less Traveled (Resolve’s Gestalt University, ep.05 6/27/19)
    image1

    • Discussing with Adam about his bs meter – how crazy it is to be overweight US equities
    • Canada is worse – 86% of advisors
    • Global allocation and strategy – always keeping files on board for ETF, not sure when they are needed or will be used
    • Launching 2006 with trend following paper and opening ETFs as broadly better managed strategy/fee structure
      • Agnostic – just wants to offer best client experience, strategy
      • Holding for long periods as how the strategy should be assessed, not weekly/monthly/quarterly/yearly
        • Managers tough to judge on this long time frame
    • Being on call with asset managers where they ask what the best funds are – why? So to avoid them?
    • Currently, tax efficient in emerging small/medium cap for long-term 15+ years
    • Market cap as terrible way to weight portfolio – as you select highest cap-weighted company, they don’t often stay there
  • Jon & Justin, cofounders of Transistor.fm (Build Your SaaS – bootstrapping in 2019, 11/26/19)
    transistor_social

    • Building and looking at Transistor.fm and other podcasts
    • Dropping the revenue numbers on Baremetrics – not just competitors, but eventually there won’t be 50% mom growth
  • Mythology Manager (Marketing Matters)
    • Marvel and having a different marketing aspect for big films and otherwise
    • Different projects and input for actors/characters
  • Rob Carver (@investingidiocy), Systematic Money, author (ReSolve’s Gestalt U ep. 03, 5/9/19)
    • Discussing different risk metrics – hard to predict or calculate Sharpe ratios so he assumes they’re the same, often
      • Sharpe as primary vs secondary metric – meta-factor
    • Construction of portfolio as time frame and strategy – used to start with $100k (first book), most recent book with $500 capital
    • Performing out of sample vs in sample – binary strategy vs weighting
    • If you don’t select a strategy, you’re biased against it – “Three Judases”
      • Properly keeping strategies in the files/repo to backcheck (if you get rid of some that you’ve used and got out of, others can’t replicate)
      • Proper weighting would be signals that activate / de-activate strategies, maybe keeping the ones above a threshold
    • Private equity and private assets discussions – what’s optimum? 1, 2, 10, 50, 100? Take on risks for this, should be rewarded appropriately.
      • Is it 5, 10% of portfolio? Size matters and type of assets. Mentions GE as having a bunch of minor bets on the private side with more liquidity.’
  • Beth Hendler-Grunt, President and Founder at Next Great Step (Career Change, Wharton XM)
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    • College attendees going after internships early – not just through career fairs
      • Not everything career-wise is linear, can be creative
    • Portfolio & value add – “What happens if you didn’t return tomorrow, next week, etc…?”
  • Iman Abuzeid (@imanabuzeid), CEO and founder Incredible Health (a16z 11/28/19)
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    • Nursing Today, From the Bedside and Beyond
    • 2018 Biggest industry in terms of number of workers – clinical workers are 60% nurses – 3million of them
      • Regulated in California where the ratio is 5 patients to 1 nurse
      • Beyond 12 hour shift, 2.5x more likely to make medication errors – documentation as well
    • Shortage of faculty, nurses and all cities – also pays well, compensation-wise (California $100k, SF $140k, LA $120k)
      • Magnate certified is hospitals with majority of nurses bachelors recipients
      • When overstaffed, higher cost of overtime to contractors and less patients (in a thin margin business of hospitals, ~3%)
    • Talent / HR teams as inefficiency across the board – haven’t changed since ’90s
      • Tech tools don’t work for specialization/unique cases – job platforms are just ziprecruiter, indeed, LinkedIn but not matching certs/degrees
      • If you’re trying to fill oncology nurse, CEO and sales – one horizontal platform vs vertical platform
    • Most healthcare workers aren’t on LI, search and discovery is hard and fields aren’t specific enough, InMail response is < 10%
      • Narrow vertical, one job description and complexity is enormous – takes level of focus and optimization to add value to healthcare system/nurses
      • Incredible Health: Employers apply to talent, automated screening of certs/licenses/experience/skills with tech, custom matching
    • Hospital/health systems are able to fill positions in < 30 days when average is 90+ days – topline benefit
      • Churning nurses costs more on patients, complex environments for matching, high-stakes in retention (moreso than others)
      • 20% turnover with tight labor market – overworked, burnt out, better staffed, commute times, 90% women, higher pay
      • Hired in 11 days – have their act together and higher employee engagement
    • Hospital recruiters have a 7 day countdown for interview requests, scarcity for competitive nurses
      • Only platform that nurses get to make their profile and sit back after for interviews

When Innovating Away Staleness (Notes from Nov 18 – Nov 24, 2019) February 25, 2020

Posted by Anthony in Blockchain, Digital, finance, Founders, global, medicine, Politics, Strategy, training, Uncategorized.
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Entrenched. The longtime incumbents. When industry becomes too single-minded, others may start to notice. Each of these individuals from the podcast episodes are in very different industries – media/news, investing/venture, monetary policy system, and regulatory updating of provider-side healthcare. All very large, important systems that beget those that have lived the longest.

Each of the guests, however, saw opportunities in how stale an industry had/has become and attempted to take advantage. Whether that’s building something on their own directly (Jon Steinberg with Cheddar News Network) or indirectly (Gil Penchina with Flights.vc), they have a penchant for seeing innovation through. I loved hearing a few of them mention that it’s nuts to have the incumbents stagnate over some of the most advanced couple of decades we’ve ever seen.

I hope you enjoy the notes for how they structured the framework for the innovation, what opportunities they tried or came to realize, and which crazy people do you back.

  • Jon Steinberg (@jonsteinberg), COO of Cheddar News Network (Launch Pad, Wharton XM)
    cheddar-logo-16x9-1

    • Large appetite for live news and sports, very few people had done any in 20-30 years
    • Younger, faster, better as a business network
      • Younger, diverse anchors & audience in their 20s, 30s, 40s vs 60s and older
    • First round raised was $3mln, no big iron of typical broadcaster – different look and feel, same structural format for guest formats
    • Former president of Buzzfeed (2010-2014), DailyMail after – CNBC and live production as the best production
    • Lightspeed Capital friend who wanted to give him a first check – being part of a startup management team that’s successful to go from there
      • His first success was with Buzzfeed – played a role with many others, but combined his luck and effort to get the check
      • Gave up 20% for the $3mil
    • Showed up at the WeWork with Peter Gornstein, first partner and Chief Content Officer – looked at each other and “What now?”
      • Bought computers, then what now? Looked for vendors for equipment and build set.
      • Shot a 3min sizzle reel – shot sample video packages.
      • Next, go live from 9-10am one hour a day, basically – then how to ramp it up to 3 hours and more
    • Facebook Live launched, then they enabled the API so they could connect professional network equipment to it
    • Carriage fees – ESPN gets several dollars for every cable subscriber
      • Cheddar does advertisers and partnerships for their money and business
    • Purchasing Ratemyprofessor, MTVU – college market and network
    • Competitors are part of the network and counterparties still
    • Runs all news and advertising for Altice (after being bought by Viacom)
  • Gil Penchina (@gilpenchina), Founder at Flight.vc (20min VC 2/7/16)
    658877-89ccd88502db9d964a651ecba6f86d9d-medium_jpg

    • Note that this was the first day Harry had been to SF (meeting Jason Lemkin)
    • Network of AngelList syndicates that covers a wide range of sectors, SaaS, security, geographies
      • Biggest raise for syndicates to date – PayPal, LinkedIn, AngelList, Indiegogo – nominated for Angel of Year at Crunchys
    • One of early engineers at eBay (100 employees to 15000, 8 years)
      • Ran a spin-off of Wikipedia called Wikia – consumer content site, went to Fastly and angel investing
      • Wanted to work with entrepreneurs to fund small checks to other entrepreneurs as a community of helping
        • Didn’t want to do the full-time thing and thought he didn’t want to focus on terms all the time
    • At Flight, at time, they have 25 syndicate managers, 100+ volunteers to join the list – 2 groups – 1 analysis/learning companies, other sales/scouts
      • 3000 backers and they ask them to help their companies, small tasks (AngelMob) to improve or give introductions and recruiting
    • 5 years time – become a place for consumers to invest and save
      • Expansion fund and new projects – Eric working on traditional venture fund for follow-on in angel investments
    • 15 years ago, cost $10-15mln to get a website now and now it’s $10 or free for URLs (Reed’s blitz-scaling)
    • Next sector to be disrupted – education (investment seed and B into Allschool)
    • Start a syndicate – come up with thesis, going out and finding the deals (1 click to start), getting traction is hard
    • Investment ethos – people that are actually crazy
    • User of Nuzzel – best content for all of his friends
    • Similarity of Happn to “Chance Encounters” from newspaper – hoping someone sees it and reacts
  • Patrick Harker, President of Philadelphia Fed (Behind the Markets, Wharton XM)
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    • About 1/5 of jobs are at risk of being automated out – minorities and women in his district
      • Creating and destroying jobs with automation – not necessarily ridding them, but training will be important
      • Philadelphia Works – job training model for America, partnering with Comcast
        • Typically, it’s been “train and pray” – training and upskill, Comcast will reimburse out of the HR budget if successful
    • Biggest surprise – outside the lens of monetary policy – breadth of what they do is stunning
      • Largest collection of economic talent for all sorts of issues that aren’t celebrated
  • Pharma Drones, Veteran Health (16min on the News #14, 11/15/19)
    • Venkat Mocherla – market dev on bio team, GP Julie Yoo, Joel de la Garza security operating partner a16z
    • Pharmacy-patient relationship is highest volume/frequency interactions with healthcare system, owning node is good
      • Lots of startups on logistics on pharm, last mile and full-stack delivery/pharm, nontraditional care centers
      • Medicines/therapeutics work for patients, compliance is one of the biggest pains
    • MediPlus, Whatsapp your prescription and you can get delivery within 24 hours
      • Fastest regulatory arbitrage – where are opportunities – Zipline in Rwanda, for instance
      • Antiquated for brick-and-mortar to innovate, but instead mobile-first and digital distribution
      • Pills, small molecule drugs that are cheaper, chronic that can be easier
    • Last mile delivery solution is cost – one-off deliveries to patients to homes has cost issues – more expensive
      • All come to hub because of delivery efficiency
    • Apple opened up health records service to vets with iPhones – give them access to their medical information regardless of provider
      • VA is mired in healthcare challenges (came up with EHR)
      • Knock on digital health industry – great for pilots but unable to scale so far, VA and NHS populations are one-go scale
        • Not bastions of innovation but more captive population (1mil to 10-20mil)
      • Last decade, provider-side heads down for data that’s digitized but not interoperability
        • Get at the data is not a given, Apple unleashing data to consumers is great but is there utility in it? (no imaging data, limited)
      • Match data to patient, or doctors, scheduling appointments – technology for technology’s sake isn’t usually great
    • Voice commands as being sent by light – specific microphone design that’s vulnerable to the attack
      • Area of research to use frequencies of energy to affect systems – light to mimic sound, for instance
      • Advent of radio has been different research – cathode ray tubes, radio surveillance
    • Enabling hardware manufacturers to guard against this – microfilms or filtering fraud and security

Love Hearing Some Aspirations (Notes from Oct 14 – Oct 20, 2019) December 19, 2019

Posted by Anthony in Automation, Blockchain, Digital, experience, finance, Founders, global, Hiring, Leadership, marketing, medicine, NLP, questions, social, Strategy, Uncategorized, WomenInWork.
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Happy holidays, everyone! Hopefully you’re staying warm/dry – whether that’s inside or just generally in a better location. I’ll say I already wish that I purchased into that ski cabin for the holiday since we’ve had a bunch of rain over the last few weeks in the bay area and now fresh powder in the Sierras. But alas, I did not. Next time, next time.

I’m going to keep this brief, but primarily because I have fallen behind in writing and it pains me weekly. Habits break and that may need to be bumped up in the new year – try out substack or something similar. But, I think I’m finally going to launch something that I’ve been meaning to build. CV / Image recognition sourcing into a database to keep track of something that plays a prominent role for many. We’ll see if I can get the prototype usable and I’ll update here.

Aspirations – I love talking and listening to people who have big dreams. I think there are many who hold themselves back for all kinds of reasons. If I catch wind or hear it, I will push you to start – something, anything – for your sake. It’s rewarding to have to dive in and try it out. Maybe it falls off after 6 months. Maybe you run out of money that you allotted to the side. Maybe, you succeed. Or learn  enough to accidentally fail upwards into a better / concrete idea. I hope for it all when people have these ideas. It’s inspiring – helps me go through my own models for how I interpret my world if I have to wrap my head around how friends/colleagues/Tweeps view their own. And how things can become better. Ultimately, that’s what we’re trying to do with many ideas. Is it a cool new thing? Is it something you wish you had? Is it an observation that you want to test? Build. You won’t regret it if you don’t in the grand scheme, but if it’s a big enough itch, it’s worth the learning experience in a world where not enough of us do (but it’s not for a lack of time).

Hope you enjoy the notes.

  • Patrick / Raamayan, Cofounder of Unify (Wharton XM)
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    • Global meditation, achieving state of flow
      • Could be gym, yoga, prayer, running
    • If you have an hour, you have 15 minutes
  • Brianne Kimmel (@briannekimmel), Worklife Ventures (20min VC 10/14/19)
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    • Backed by Andreesen, Chris Dixon, Zoom’s Eric Yuan, and friends Alexis Ohanian, Garry Tan, Matt Mazzeo
    • Teaching General Assembly while operating in performance/growth marketing role at Expedia before Head of Social Media
      • Go-to marketing bootcamp (SaaS school now)
      • SaaS school taught my brand name heads at SaaS top places
    • Started with $25-50k angel checks in Webflow, Voiceflow, Airgarage and built a track record
      • Wanted to build a SaaS-fund to focus on go-to-market from bottoms-up
      • Enjoys building and structuring companies to get into the Venture-sized outcomes
      • Having a fund that’s open enough to maybe do private equity after stuck between $3-5mn ARR
    • Optionality for early stage, inflection points, maybe getting growth PM to scale into CEO
      • $150k checks incrementally grown from $25k
    • Proliferation of funds and capital – investing from own, micro-VC and angels platforms
      • Scouting for VC fund – operators at hot tech company
      • AngelList and Carta as platforms for own angel funds or boutique arrangements (flexibility with checks, numbers, still operate)
    • Celebrities/athletes using investments in startups to match their brand or expand it
      • Intersection of work and life – seeing Faire and Shopify give access to a huge new audience
    • Angels with leverage in cap table – “perfect one” and she grooms founders for this
    • Worklife – services and programs to unlock human potential at scale
      • Hypevsaas – traditional language for b2b is dead, according to her
      • Great saas being built by operators spinning out of consumer tech (Airbnb, Coinbase, Uber)
        • Scaling too quickly where they end up building their own tools before open sourcing or monetizing
      • With self-serve SaaS companies, many APIs and workflow tools, are easy to build – what’s the competitive advantage
        • Your access to tech, building closed products (specific users in line with product vision)
      • Opposite of Hypevsaas as “Scrappy SaaS” – going away slowly, race similar to consumer product for paid marketing
        • Freemium to quickly launch/build but products too easy – race for free users and attempt to monetize later
        • Mirrors side hustle or application as experiment with a possible traction
    • Consumer-grade experiments where users pay from day one – mentioned Superhuman and Rahul’s talk
      • SaaS school discussion about video game design and hook
    • Pace as most recent investment – accessing software with lower monthly rate because they access the contracts
  • Justin Kan (@justinkan), Founder / CEO of Atrium (20min VC 6/21/19)
    atriumlts

    • Full-service corporate law firm for startups
    • Started in 2004 with online calendar a la Gcalendar called Keeko, got into YC
      • Failed and sold it on ebay eventually
    • Then started Justin.tv – terrible idea that mostly failed and eventually made it into a streaming site to do Twitch
      • Sold in 2014 to Amazon, started another company called Exec in 2015 – errand service
      • Became a partner at YC but realized after a few years that an investor full-time wasn’t for him
      • Forced, as a startup founder, to learn things (hadn’t been learning as an investor)
    • 2017 – remembered how painful it was learning things – thinking of ideas
      • Conversation with a partner at a law firm in the city – asked her why they didn’t use any tech themselves
      • Full-stack corporate law firm in US – high growth companies that they’re building for last 2 years
    • Had used legal services no matter what they had – big transactions pay attorneys regardless, stable market
      • Will exist in a downturn because things don’t just stop
    • Remembered that every summer at the start of his startups, he would want to quit – think of new ideas or new things
      • Once out, he’d think he didn’t want to do it again, until it brought him back
      • First 3 months – thought he was great, figured it out due to 10 years’ experience, until stress came back
        • 6 months of stressful period – figured it out that he was still fine, reputation/old job
        • Self-improvement and growth had to come from culture
    • Hard to detach yourself from company as entrepreneur
      • Has attachments and notifications to make sure that he’s being present
      • Having goals in life, company, entrepreneur – board game metaphor – friends play and being engaged
      • Put away a game – do you remember or care what happened?
    • Started seeing a therapist 7 years prior – coach for dealing and discovering about what you’re going through
      • Cathartic, in his opinion – not alone and can talk to people
      • 15 Commitments of Conscious Leadership, Steve from Reddit
        • Radical responsibility – nobody else will come to save you, nobody to blame
        • Radical curiosity – whenever a new situation comes up, you approach it with what you’re supposed to learn
    • Don’t have to suffer for doing a start-up – not saying “Don’t work hard”
      • Building up skills, expectation for suffering isn’t the case
      • Atomic Habits by James Clear for him following working out each day
    • Zone of Genius – cares and loves to focus on, delegate rest
      • At Atrium, focus on business strategy, selling, culture
      • Build the team for the rest of it
    • Much better at recognizing patterns after investing 100 companies
      • Implementing in company, business models and market dynamics
      • Bad – investor attitude (approached Atrium like this)
    • Atrium – up to 150 employees in SF now – happy and proud for the culture and growth
  • Eric Kinariwala (@ekinariwala), founder / CEO at Capsule (DealMakers 10/15/19)
    referral_image

    • Rebuilding pharmacy from inside out – raised $270mn from TCV, Thrive Capital, Sound Ventures, Virgin Group, M13
    • Wharton undergrad, network from there as financial services, banking and decided to go to west coast – Stanford
      • Started at Bain Capital in Boston after graduating – worked in a hedge fund group investing
        • Retail, healthcare, tech – blending framework around business strategy, what makes it a good business
        • Judging management and the synergies – learning how to invest, as well
      • Making right judgment calls – tight feedback loops
    • For Capsule, had moved back to NY, got a headache – called doctor and had a prescription ordered
      • Pharmacy is $350bn – most frequent interaction in healthcare
      • 2nd largest category of retail – 70k stores
      • Got headache and went to go pick up his meds but couldn’t find it, then they were out of stock and it was awful
    • Hard to get advice from the pharmacy, don’t know the price until they go to pay
    • Everybody touching the pharmacy has a headache, typically
    • 3 pillars of Capsule: modern technology platform, emotionally resonant brand, pharmacy how your mom would treat you
      • Prototypical pharmacist as founder, 2nd was highly experienced technologist, 3rd woman that spent building consumer brands
    • Business model – “10x better” than current existing – technologically enabled pharmacy – app with 5 pieces of information
      • 2 hour delivery windows, know price of medication, doctors know what you’re doing
      • Why are there so many pharmacies? Put money spent on rent back into beautiful design and technology to be seamless
    • Launched in 2016, first customer in May – first challenges in early days
      • Strong word-of-mouth from friends, doctors who had learned about Capsule – telling patients and vice versa
      • Early pharmacist was well-versed in regulatory environment for anything that could’ve been broken
    • He had raised in May ’15 to get started – raised $70 million to start
      • Ideal profile / entire business model needs to be aligned with values: objectives, values, strategy and metric
      • Asking to join and leaders need to have alignment in the same way – even the board – share vision and how / why you operate
    • Team is bigger than 250 full-time, all in NYC now – encouraging people to read ahead of joining, also
      • Checklist Manifesto, On Wings of Eagles, Danny Meyer’s Setting the Table, and Who by Dan [Geoff?] Smartt
    • For the future of Capsule – most important thing in your family’s life as healthcare (although I’d argue bank or something)
      • 5x more pharmacy visits than doctor (sheesh) – wants to make it mobile-first and on the home page of phone
    • Piece of advice for his first day: be more confident earlier
  • Gimlet 1: How to Not Pitch a Billionaire (Startup Podcast 4/5/14)
    gimlet-and-spotify

    • Pitching Chris Sacca – meeting at a hole-in-the-wall sushi place for lunch in LA
      • Deck as a crutch and did it outside the lunch – no slides
      • Most people consume audio in radio and are leaving to digital – audio dashboard, podcasts music all there
      • Wants to start company for the content for moving into the digital future
      • One question he asked: what’s the unfair advantage? Explained how to make money (ads, listeners)
        • Freemium – offer an extra for the listeners who want to pay.
        • He answered: making freemium model work – had to tighten it up
      • Chris Sacca – took 2 minutes and did the pitch
        • People willing to pay for this stuff – Planet Money where they gave $600k to buy tshirt with our logo
          • Integrated directly that we can replicate
        • $1.5mn to buy 3-4 guys for podcasts in next 12 months, can get to 300-400k net subscribers
          • Can get to breakeven on ads alone, CPMs where they are – more integration and episodes will be ultimately scale
          • 12-15 podcasts and we can do it
      • Then countered with the audio is a niche market – nonprofit and audio moving toward shorter content
    • Met him on a Planet Money story when he was going over patent system and how it was slowing innovation
    • Strategy/ideas at Google, writing seed investment check in PhotoBucket – didn’t have it, though
      • Just $50k and wrote 2 credit card checks – enjoyed the feeling so much he left Google
      • First investment was in a colleague, Evan Williams, for Twitter as a full-time angel
        • Wrote the check for $25k – was a lot of cash to him, needed it to work – wanted to help out, evangelist
        • Started buying more shares and doubling – believed in the company
    • Kickstarter, Uber, Instagram, etc… looks hard at the conviction of the success
      • Missed on DropBox (Gdrive was going to crush them), Airbnb (someone will get raped or murdered, can’t work)
    • Told him to come back, tighten the pitch and then do it for Chris’ partner Matt who was from the media world
  • Pankaj Risbood (@risbood), founder at Zendrive
    logo_vertical-drkgry2x

    • Discussing leveraging data and making it a platform instead of an app
      • Dealing with partners to ensure they can improve value
    • Mission Street project – 6 months driver flow before and then after shutting down
      • Reducing poor driving / improve driver safety and it was fairly obvious
    • Can deploy this in the form for insurances, as well
  • Jacqueline Courtney (@jac_courtney), Founder of Nearly Newlywed (Wharton XM)
    47315_0

    • Pitching on Shark Tank to grab attention
    • Starting as seeing option in fashion tech for underserved market
    • Tough for Amazon to compete because of the marketplace factor and users are only in for 1 sale, 1 wedding
      • Taking 40% of the sale but trying to maximize the amount of cost for many
      • Realized photos that were posed / models with dresses didn’t sell as well as real wedding photos
        • Started asking customers for them this way
  • Noah Auerbahn (@noahauerbahn), co-founder and CEO of Robin Healthcare (Lindzanity 10/2/19)
    5d00b6c5f8049e595a67e73d_logo-robin

    • Robin as virtual scribe that sits on doctors desks and records video/audio from room – sits in exam room
      • Started with orthopedic physicians – 6 sub-specialties and they cover all of them so far
    • Met Gary, Howard’s partner, when Noah was 21 and starting first company – ExtraBucks (cash back coupons)
      • Came up with at dorms in USC, raised enough money to move to SD with his cofounders
      • Were cash flow positive and had Gary and Alex as advisors – realized he didn’t want to be in ecommerce forever
        • Decided to sell and exit once they questioned it – had raised around $1million, no venture
    • Believed college as what you make of it – did entrepreneurship / business in undergrad but taking it and questioning how to apply it
    • Education, energy, and health were the lists of what he thought may have the most impact – health was the biggest for him
      • He would hire MIT PhD and UCLA MD to come to his office and tutor him – “pretty affordable, like $70/hr” to teach at pace you want
      • He wanted massive optionality within healthcare – not just ecommerce, if he wanted to do pharma, biotech, find the right entry point
      • 100s of research posts, 100s of conversations, started going to conferences (where he met his cofounder)
    • Entire system – center of the system is the exam room – decisions get made there, so he wanted to build something interesting inside of that room
      • Patient, doctor, and EMR (not interested in sharing data)
        • Found out that there was a scribe in 5% of rooms and he asked why they aren’t remote or something
        • Lower burnout rates, better throughput and service, notes/quality control could have issues
        • Decided to tool in a good UX, ML additionally
    • Wanted to do something big, had to raise money eventually but “How many assumptions could he kill or the idea before saving time?”
      • First paying customer, had $40k, webcams, notes (his cofounder doing them), device streaming and did it at his mom’s vet clinic (non-HIPAA)
        • Built own tech, had some handful of paying customers – had taken some friends/family $ that missed on his first company and then real
      • Didn’t anticipate hardware but couldn’t find something that could be used for solving this
        • Security cams aren’t great because of acoustic but could stream all the time
        • Conference ones which aren’t designed to run all the time – ran own software on it, but lot of work to keep it working all the time
        • Sonos speaker guys were helpful in producing what they ended up building (optional video)
    • Device has about 2% of people where they don’t consent – video/audio and can be more in tune with the patient
    • Having offices in SD, Berkeley (his reverse commute from SF) and Austin – where most pre-med scribes are for them
      • Mentioned 30% Stanford Med graduates don’t end up as doctors – go into tech
  • Morgan Housel, co-founder of Collaborative Fund (Lindzanity, 10/9/19)
    deuobz-u8aarwgs

    • Howard’s favorite thinker/writer/storyteller and his interesting career arch – key to writing is writing
    • Effective long-form is rough but when it’s good, it’s bar-belled (10 seconds is better than longer reading)
      • Only books he got through were Shoe Dogs and Agassi’s book – Munger’s “Don’t be burdened by bad books”
    • Cramer’s “Confessions of a Street Addict” as good, as well
      • Coming from nowhere, knew how to write briefly, Howard as superfan – first modern financial professional that had personality
      • Howard feels like it’s an underachievement – Morgan said he’s not a great investor – so much trust built up that he should be running a massive firm
      • Access to people, financial celebrity
    • Fascinated by Motley Fool – when Morgan had hedge fund, had CNBC but Dave and Tom Gardner – hats on, promotional and StockTwit before
      • Went for mom and pops – tremendous marketers, but made mistakes
    • 2007 – dawn of financial disaster, studying econ at USC (his plan was p/e and ib) but finance was terrible
      • Didn’t think highly of Motley Fool – had gone through Yahoo finance boards and saw his friend, Sham Gad, at USC was writing for them
      • Thought he’d do Motley Fool shortly as contract, couple months, and was writing an article a day – (plan was initially p/e but they couldn’t bring him on)
      • For him, he was supposed to be banking industry, and writing other stuff as well – economy and macro issues (unemployment, fed reserve, budgets)
      • No explanation for decisions being rational – before, during, after no good explanations – psychology of investing
    • Psychology of investing will always be there – different layers of edge and vs technical side – can be base of pyramid
      • Smartest analyst or data miner but without greed/fear, nothing would matter (Howard moving to angel – forced to go with it, prices were his weakness)
    • Time split for Howard – 50/50 between public/priv (prices keep him up to date on news)
      • Selling at Uber at $10bn because he wasn’t allowed to sell at $1bn – he was in with David Cohen’s $4mn fund, $50k at $4mn valuation, so he had $2k
      • Sold a lot early and then sold at $40bn and that’s where it is now – public would’ve been very different
    • New banks may be what Andreesen is doing – start as VC & get larger, for next 20 years
      • Citadel starting as hedge fund from dorm and now top-tier investment bank, doing everything – exchange, conglomerate
      • Partnership that can have trading stocks, wealth management, lean beast with trust/access – 2.5% fund without GS
      • Private becoming so large because of the liquidity area there
    • Josh as being equally funny and smart, not caring about markets – gave a sponsor to Morgan and Jesse Livermore (pseudo) and Twitter explodes
      • Motley Fool for 10 years, contractor for 7 years – LA first and then Seattle, then Alexandria for 3 years – only time he’s had a desk and office
      • Wife went to grad school in Baltimore to move them out that way
      • Motley Fool as bigger than you think – P/E mistake, big tool and screwups to learn a lot about mistakes
        • Joining Collaborative Funds (Craig Shapiro splitting time between NYC and SF) was easiest decision, but leaving MF was hardest of his life
    • What really can set you apart is not writing a check anymore – everyone has a checkbook
      • What do people know about you? What do you stand for? What is your vision?
      • If he could write what they wanted to read, it would draw back some attention to what they’re doing and standing behind.
    • Went to plenty of conferences, 4-5 a year and learned to speak – had a CFA Institute where he was the interviewer
      • Did keynotes for Motley Fool, video made it to Washington Speakers Bureau and started to do that
      • Several dozen talks a year now – wasn’t the plan original (2016 as first year)
        • Doesn’t sketch out an idea, write out an outline – just knows that he enjoys some part and how to contextualize it
    • Spends majority of his time going on walks to “write” – tough for him to grind the gears
      • 95% of his investing is house, checking acct and 3 Vanguards funds – saving dollar-cost-averaging there, since he isn’t really writing checks
      • Thinking about “enough” – 8% is fine, 10% would be nice but not worth stressing (says opposite of type A)
        • Odds are low to beat market, same with running – 3 miles is enough for him, doesn’t need to do half marathon
        • Biking for 1 – 2 hours, knows the burn, won’t need to do more
      • Why Howard says Andreesen’s model likely to make a difference
        • For Howard – indexing, 90% there and 10% to try to beat
      • If it bothers you, why are you torturing yourself? If you need to scratch the itch, take a small enough.
      • Hates idea that Vanguard gets to pick the 500 companies for him, not a fan of $5mln raise if you can do on $1mln
        • Similar to Risk gm – don’t start Europe, east Aus is better
    • Indexing as Robinhood vs Vanguard – somewhere in between (not robo), but just de-selecting the companies you may not want to invest in
      • Feel better, maybe hold on more during drawdowns – incentivize riding the wave
      • Example from Morgan about mom hating Monsanto (then he pointed out she owned some – she wanted to sell)

Paralysis of Planning (Notes from Oct 7 – Oct 13, 2019) December 12, 2019

Posted by Anthony in Automation, Blockchain, Digital, education, experience, finance, Founders, global, Leadership, marketing, medicine, questions, social, Strategy, Uncategorized, WomenInWork.
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Hello everyone! It’s been forever – a few weeks. That wasn’t my intention and my head’s been spinning around topics. However, nothing was clearing up idea-wise, at least enough to fit something in. As writing is an intentional habit of mine to try to memory-dump and stay organized, the slowdown has been a poor fall off from my routine. We’ll get it back.

I forget where I’d read it first, but there are some long-form bloggers who said just writing to write daily has helped them get to coherent, well-written posts about once a week. I may try a medium there and plan to write 3-4 days, even if it’s brief. Let’s see what comes of that (on initial thinking, I’d like to get 1 or 2 of those data-focused).

Last week, I attended #HustleCon in Oakland, which is focused on entrepreneurs (mostly non-technical) and the strength of pattern recognition and actions on ideas. A few of my prior posts have mentioned the flood of information available, so long as you have a plan to go through it. It’s likely why I found it funny to hear various founders with their “definitive” takes on fundraising, hiring and culture building processes. It’s possible the thing they all agreed on was just to focus on the product/customer feedback. The rest was completely in the air – some swore on fundraising and it was easy, others thought it was only necessary to scale to size they wanted later, some wanted to just get large customer traction, etc…. There’s no single track except your own past experiences. That’s the one track for ‘worked’ vs ‘doesn’t work’. Everything else has examples on both sides.

The commonality aside from product/customer-focus was in reflecting on actions – can you test an idea? Can it sell? Will there be a proper response? Is the response as you expected? Iterate from the basic idea that you had to begin with and see if you can’t improve it further. I am starting to agree that there are many ideas that fix many things we each interact with – our experience (usually bad) influence our ideas to improve them once you have that “I wonder why it can’t be easier – or why can’t it be done like X”. Acting on that idea to see if you can fix it is at least better for you and a handful of likeminded people – “2x improvements”. The iteration to move from that to providing an easier/painless/smooth/updated experience is the rest. And that determines success/fail of the business (if there was one). That’s a large jump but one that I may unpack in the future.

I think the notes below contain a solid mixture of hope for the future, business building, medicine and exploration.

  • Trae Vassallo (@trae), founder at Defy.vc (Wharton XM)
    favicon_200px

    • Looking at focusing in early-stage connected software companies
    • Avoiding stigma of young and white and male – although that’s lore/myth, despite what we see in SF
      • Founders as average age of 40
      • Very diverse, including in their portfolio co’s
    • They lean on founders who they may have backed before
    • Attending Stanford for Bach, Masters and MBA
      • After undergrad, interned at Boeing for summer before realizing corporate wasn’t really for her, true engineering
      • Had more of a design mind – Ideo (design firm) kept intriguing her in SF
    • Niche for funding between big moves and some that don’t want massive venture deals – thought it was common enough to fit
  • Seyward Darby (@seywarddarby), Editor-in-Chief at The Atavist (Wharton XM)
    atavist_logo_2015

    • Discussing paper
  • Amazon to Deliver Healthcare, Google Quantum & VR/AR (16 Minutes on the News #10: 9/29/19)
    • Cost of employer-based healthcare just passed $20k annually for the first time
    • Often hear about “At least Amazon doesn’t deliver healthcare” – their position in the market is the source of fear
      • Haven’t hired nurses or physicians, partnered with Oasis
    • What would counterpart for realities of healthcare working
      • How do you integrate into supply chain of broader healthcare landscape (Amazon as just inserting into primary care, not others)
        • Primary care is a minor part of total spend
      • Game for startups is to get distribution before incumbent gets innovation
    • Oculus – advancing AR/VR very quickly – selling as fast as they can make them with Quest
      • Hand-tracking is working much better, technological advances
      • Verifocal lenses – different ways for seeing 3D
        • Big Screen as watching 3D films – true eye separation, although in VR, you don’t see great depth
    • Eyes trade off high resolution (central) compared to the outside which would be low res
      • Mobile GPU for glasses as less powerful but improving compared to ones that are plugged into the pc
      • Enough users where developers can be incentivized
    • Quantum computing as here – yes, but not broken for cryptography
      • You can run a computation / calculation on quantum computer
  • James Beshara (@jamesbeshara), cofounder at Tilt (20min VC FF#031, 1/22/16)
    crowdtilt-to-tilt-image_28305

    • Micro-crowdfunding platform, founded dvelo.org for crowdfunding loans and donations to poverty-alleviation
      • Then moved to friends funding
    • Khaled as co-founder – said “he’s the luckiest thing that happened to company”, introduced by a friend
      • 26 yr old running strategy at Rackspace – needed someone to develop because he didn’t have the development skills
    • College kids as the largest demographic here – wanted to make crowdfunding very easy
    • Fundraising process for the two of them, trying to get investments from real estate, oil & gas, hardware – didn’t understand
      • Were in ATX and had to do value prop for 90 seconds – duh?
      • Got into YC and grinded until that point, even for raising $500k
      • Helpful for Series A – growth graph that they didn’t have for seed
    • Destination in mind for investors – standalone, durable company (likely public)
    • 5 years away – building crowdfunding platform and taking it mainstream
      • Update: Didn’t make it.
  • Bryan Johnson (@bryan_johnson), founder of OS Fund and Braintree (20min VC 1/25/16)
    braintree_logo

    • Bought by ebay in 2013 for $800mil, and launched OS Fund with $100mil in personal capital to benefit humanity
    • Extend human life, replicate visual cortex, reinvent transportation and food
    • Key question of building technology and the world we want – governmental systems improvement
      • Balancing returns – money is a tool of power and influence
      • Can be decades and he’d be fine with it
    • Interested in materials science and rearrangement of atoms – raw source inputs, business services and how to consume them
      • His portfolio is mostly genomics and synthetic biology
      • Has a sizable chunk of experts that they get advised by on specialties
    • Blockchain technology – thinks of the start to the printing press
      • Tools of creation and platforms of creation are hard to predict what would be next
    • Fav book: Shackleton’s Endurance Voyage, favorite person: Craig Ventur
    • Most exciting recent investment: Ginkgo Bioworks
  • Kamran Fallahpour (Director at Brain Resource Center in NYC) and Geoffrey Woo (CEO, Founder at HVMN) Brain Hacking (Wharton XM, Dot Complicated)b593e157-b9cc-4762-b437-ff43ca3f731e-1498462151992

    • Bryan Johnson on Brain Hacking and founder/CEO of Kernel, not a matter of if / when
    • Coming to Brain Resource Center: both children and adults, ADD, ADHD, brain injury, migraines, anxiety
      • Families with kids with attention issues or doing fine but want an advantage
    • First do a brain mapping using EEG – over- or underactivation
    • For Geoffrey, he had friends after Stanford trying to make machines or robots smarter, better and more efficient
      • He wanted to wonder how he could get humans to perform better – tinker with the body
      • Cognitive functions as being why we’re above the animals – n=1 experimental starts
    • Pubmed research articles on nootropics, reports on Reddit for chemical stacks, substances that were supplements or foods
      • Prescription or off-label, scheduled drugs legal or illegal
    • Improved sleep as best biohack, exercise for cardiac health and now regular exercise/weightlifting as brain cognition
      • Neuroplasticity growth and improving brain functions – any way to stimulate the brain, puzzles/language/out of comfort zone
      • Plateaus when looking at neural feedback
  • Andres Barriga (@andresbarriga), cofounder of Portola Growth Partners (Wharton XM)
    • Chilean venture capital after business school in the states
    • Growth in LATAM – primarily western countries and then up to Mexico for growth
    • Talent is starting to be attracted to possibilities
    • They got 3 US funds to invest
  • CRISPR! Policy, Platform, Trials (16 Minutes News by a16z #11)
    • CCR5 gene as preventing HIV
    • Alliance of 13 companies in the space to not do germline editing, but would still do therapeutic somatic cell genetics
      • Genome that runs the body and the one you pass on to generations – germline
      • Somatic cells will not be passed down to future generations (eyes, liver, etc…) and germline would
    • 1970s had discovery of recombinant DNA – tech to cut/paste genes
      • 1980s had genetic applications outside of the body – initial cut healthy copy of gene and put into virus and stick into humans
      • Late 90s – patient Jessica Zellwinger – can’t randomly do gene splicing
      • Talons – gobbler proteins – zinc fingers took forever to remove mutated genes but would take PhD students months and $10ks
    • Emergence of CRISPR as way to treat disease, in short order
      • Gene therapy, CRISPR, engineered cells to treat cancer, for instance
    • Legislation in California – preemptive for what could go wrong and how to be productive
      • What if the kit is used improperly
    • Applications – ex-vivo vs in-vivo (outside of bodies compared to in)
      • Vehicle/delivery compared to the load – which is ex-vivo and can be Quality Controlled
      • Eye as initial in-vivo CRISPR use since eye is immune-privileged (bacterial components of delivery)
      • CAR-T therapy for cancer patients – usually send cells to get edited and then put back in
  • Sarah Hum (@sarahhum), founder of Canny (Indiehackers #124 10/7/19)
    logo

    • User feedback tool, feeling the pain of the data and trying to combine customer data
    • Just crosses $50k MRR – team of 5, transparent and paying team with money they make
    • Digital nomad – she was in the same place in SF with her cofounder – quit her full-time job but wasn’t making much
      • Team of 2 was easy as she traveled initially, couple

      • Indiehackers Courtland with his brother – know how to argue and disagree
    • Had done quite a bit of hackathons – worked at Facebook for 1.5 yrs before starting
      • Worked on Messenger as product designer – felt limited by what she wanted to do
      • PD is ~20%, she’s learned about marketing and pricing and sales otherwise
    • Started Product Pains as a community for people giving feedback over things – didn’t monetize initially
      • Had a community of 5000 people that primarily did consumer products
      • Rebranded to turn it into b2b and monetize – could change products with Product Pains (give them feedback, for instance)
      • Andrew had worked on team working with React – teammate had asked him after he left about what he was doing
        • Started using Product Pains to get information about developer pains – still a big mechanic
    • Eventually they had companies join Product Pains who asked if they had a widget
      • Didn’t have widget initially, but they asked if they built it, would they pay for it? Basically said yes – $19/mo
      • Had been 3 months after she quit to rebrand and launch as Canny
        • Had to get a pricing page going for payments
    • Get Satisfaction around 2008-2009 as Yelp for customer service / user feedback that got a ton of investor money
      • Raised $10-20mln and cratered in a short amount of time
    • Launched Canny on Product Hunt as a good initial feedback and went to Oct ’17 for profitability (hit Hacker News)
      • May / June talked about digital nomads – week or so before leaving and took off – first little tour of US and then went to London
      • 26 cities in 2 years, Seoul as reliable cafés and wi-fi – Nomadlist and about a month in each place
    • Writing 200 words a day – blogs every week then are almost 1400 words
      • Levers to grow a business (via Patrick Cambell, CEO of ProfitWell)
        • User acquisition – blogging, product via word of month
        • Monetization – pricing, how often to charge, how to upgrade, paid plan, etc
        • Retention – how long do people stick around
    • Pricing strategies: haven’t tried freemium
      • SaaS, thought about – started initially at $2/mo (cheapium)
        • They’d have to chase people for this
      • May be a good time to try again – never set it and forget it – should be able to charge more for it
      • Tried to charge based on people as what they thought it was the business / how much willing to pay / user base
        • As they figured out the market niche, they landed on the best to target
    • Having monthly goals and try to develop features or business things to help achieve those
    • Hiring – her never being a manager
      • Helping people do what they’re supposed to be doing and supporting their jobs
      • Openness as key – working together much of the day and being on the same page, feeling good
      • They do 3-4 meetings a year
    • For 1-2 years, they have quite a bit they want to build, features to grow bigger
      • Can see Canny working for larger businesses that have reached out – catered to small/medium-sized so far
      • Giant impact with very small teams
  • Amir Haleem (@amirhaleem), founder / CEO of Helium (talk on AVC / USV port co)
    5xvzlvyv_400x400

    • Former esports champ in 90s, during dial-up days
    • Dial-up days – most competitive time for internet access, separation of those that provided services
      • US Robotics for modems, ISP like Speakeasy, telephone co like Verizon
      • Once internet got adopted and page loads enlarged, they merged
    • No option to use dial-up, cable appeared – “Internet got terrible”
      • Cable provider merged with ISP – physical lines vs provider
      • Comcast in SF as his example – local loop – LLUs – similar to telephone providers originally
    • Google Fiber – became extremely challenging for them to dig – cities wouldn’t let them dig, so they converted to wireless
      • 75-85% of customers use whatever the cable company gives them
      • Hardware in home – LoRa network or “sharing” hotspots to clog networks
    • Cellular market as too expensive soon, maybe contraction
    • Net neutrality – internet access as common carriers (2015)
      • FTC won’t mandate to cover common carriers
      • Net neutrality was only rules that were in place to rule against – until it died and how we govern ISPs
    • Cool companies in the decentralization of the internet
      • Orchid: tor-like system and rewarding nodes
      • FileCoin: store files anonymously, encrypted and hashed out
      • Brave: forced https and ads blocked, Tor as tab version
      • Helium: how to decentralize wireless links to base, especially with 5G and unlicensed spectrum
        • Blueprint of mesh of open technologies owned and operated by those that own and use the internet
    • Helium: IoT of low power sensors, tracking devices, network devices for access by others
      • Fundamentally do it and reward people with coins for holding it and for others to use it
      • Talking about using applications for the IoT world
        • mentioned the fires in NorCal in ’18 and not being able to tell the air quality within 20 mi radius
        • IoT seems to be ripe for improvement but hasn’t seen the network yet
  • Dennis McNannay, CEO & founder for Curadite, Inc (Wharton XM)736x196xcuradite-logo_long_gry.png.pagespeed.ic_.gqdo0yxdcw

    • Bioscience focus on medicine adherance

Unapologetic You (Notes from Sep 9 – 15, 2019) October 25, 2019

Posted by Anthony in Digital, experience, finance, Founders, global, Hiring, Leadership, marketing, medicine, questions, social, Strategy, Uncategorized, WomenInWork.
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Every Sunday morning comes in The Profile newsletter to my inbox. It’s a great collection of what drew her eye on the week that focuses on profiles for individuals, good, bad, successful, unsuccessful, notorious, secretive, dangerous and generally people of all ilk. They’re almost all interesting, some more so than others. But yesterday, it caught my eye when Polina introduced the newsletter about her personal experience growing up and the first convention of being different. In reading it, I could see a bit of the problems and commonalities in many students I have seen over the years. And more than that – the ones who I’ve had the most enjoyment in teaching – were those that were unapologetic about who they are.

Many, as kids, were still working through it, but they were questioning the very thing Polina had described. And that’s of increasing importance as we get larger and larger webs of interconnected communities. The aggregate and the averages tell us how we should be or what you’re expected to score and how you fit relative to the rest. Rarely, if ever, does the crowd define any/every individual, though. The sooner we can all wrestle with that concept, the more comfortable we should be. Starting and doing a newsletter, for instance, should be as simple as writing what interests you. Yes, as it resonates and draws others in, there may be some curation to optimize what you decide to make it. And further, it’s probably good form to have some consistency in producing it (frequency/length/formatting) but that’s up to you, the individual.

I’d like to think that people want real, genuine thoughts, and less gimmicky writing. As an aside, that doesn’t mean people don’t consume if it’s not genuine – I just would venture that as soon as you break the mold on what APPEARS real (if actually not) would cause an uproar – as we see via YouTubers/Twitch streamers and even in some blog/vlog stuff. An act that is an act has an end, but an audience doesn’t then know what it’s getting. People don’t typically like change if it’s different, even if it may be “better”.

The best part of all of this? You get to choose what you want to do. Make the decision that makes you happiest and assess the aspects of your life that don’t. From there, create and prioritize how you may make the changes that lead you in that direction.

There are many people that I listened to over the course of this week.

  • Jen Stirrup (@jenstirrup), Data Whisperer  & created consulting Data Relish (Data Skeptic 9/6/19)
    ggkl0ilv_400x400

    • Deploying data science and impacting businesses
    • Last mile of analytics problem – interesting work and how to finalize to take to production
    • Cleaning data properly, putting data into dashboards for proper business intelligence – how long does it take to get to reports?
      • When you get reports, how long is your time to question (vs time to answer)?
    • She takes them a health check and tries to check out where they are vs where they should be
      • How clean is data, what are the real problems
    • Microsoft doing ML Ops and how it can fit into support, how to look after something when it’s gone live
      • Humans don’t want to appear stupid, so they want to be correct before starting
      • Start with end in mine: what are you trying to do?
      • Think about quality of data: still sees bad, missing data, incomplete data and things that they don’t use
    • ML Ops examples of solutions – email management, how do you manage it
      • Program can reach the end bound email, what it can do with the email (cs dept with automated service and pass hard emails to people)
    • Good customer success can be a chat bot – limited and what it can do but proper
      • Easing productivity issues – maybe tell me your phone number or putting in information to the chatbot to the crm
      • More and more requests for serverless technologies – spoke to university about container technology
        • Research can give the container with the paper and give to someone else to validate it
        • REST APIs or serverless or others can glaze over eyes if talking to business but others, early adopters, jump on it
  • Natalie Hampton, Founder/CEO of Sit With Us, Inc (Wharton XM)
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    • Talking about not having any background in coding, her art teacher pushed her to pursue it
      • Wanted to build the app and just found people/classes
      • Bullied and her art teacher was the one who would keep her door open for her
    • Pledge to use the app – figure out that adults were using the app, as well
      • Good for conferences, schools, colleges, workplaces

 

 

  • Henry Ward (@henrysward), founder & CEO of Carta (20min VC 4/12/19)
    carta

    • Carta helping private, public cos and investors manage cap tables, investments, and equity plans
      • $147mln in funding from K9, USV, Spark and Meritech
    • Originally tried a version of Wealthfront and Betterment called SecondSite – never got off the ground
      • Met Manu, who introduced problem for financing infrastructure easily in private companies, providing liquidity and power
      • Noticing executive half-life of about 18 months (say, $20mln – $70mln – then again from $70-200)
        • Companies scaling from 150 to 500 and then after that
      • People scaling linearly but companies scale exponentially
        • If an exec isn’t scaling, they don’t say “Let’s hire a VP of FP&A to support execs weaknesses” but instead “Let’s replace CFO”
        • Why is it true? – Any particular problem in scaling a company, can find someone that’s done it before.
          • Founder is keeper of the mission – can’t replace that but job changes a lot more
            • Smaller, personal relationships and people understood him for best intentions (but he’s a gunslinger and off-the-cuff)
            • Less mulligans for him as they’re larger now – Jeff Lawson at Twilio had ran into someone for printed t-shirts and Jeff said “not a fan of color”
          • His job becomes very specialized – story for employees, candidates, investors and press; 2 – right execs in right place
    • Was sole decision maker in early stage and he still is but he said it was a liability
      • Fewer day-to-day decisions to make but it matters more that they get it right and understand the context
    • Investors thinking of markets in terms of size / how big could it be / what’s competitive advantage
      • Happy going after conventionally small sizes but he looks for 1 of n – microstructure economics / territory will support multiple competitors
        • If you win market, creates a defensive ability and that’s n of 1 – 1 platform (as ‘small’ cap tables)
        • By owning a market of 1, you have the platform to dominate others
          • Markets were too small – any market would run out of oxygen, so you need an org that can go further in places
        • Data network effects could block all other entrants
      1. Have to be n of 1 market
      2. Have to have a business model that creates n of 1
      3. Needs innovation on customer acquisition model to quickly take over market share
    • In b2b – do you have a product that gives entry to commercial businesses?
      • Product and technology advantage are short-lived – best companies own lines of distribution, not great products repeatedly
      • Can go acquire great products and push them through distribution – both through M&A and through manufacturing
    • Their biggest issue – tying all pieces of network together – 10k companies, 400 a month acquired, distribution to vc – managing electronic stock
      • Law firms are power users of product but don’t have product that tie them all together – linearly
    • They love services markets adjacent to what they do – commodity product differentiated by brand – funded administration, for instance – 4-9a analysts
      • Paired a product team behind services group so the 4-9a runs at 70% margins – automate them to software
    • Goal of R&D is how much value can you provide – go build it, otherwise they won’t
      • Of value created, how much can be extracted – like keeping them as independent variables (when to extract)
        • Early stage, add ton of value and then deliberately say they don’t want to extract much – leave a lot of consumer surplus
        • Investor products: want to extract a lot of value but provide a lot of value and change these decisions (as markets mature, get larger)
    • Favorite book: Essays of Warren Buffett
    • Economic discrepancy is enormous and how to bring wealth to more people – Carta mission for more owners
    • Keeping investors up to date monthly and they love getting board members involved in the company (especially when they have 100 investors)
      • Meeting with VPs or execs to do weekly meetings of sorts
  • Joe Banner, President & CEO for Browns, Eagles (Wharton Moneyball)
    • Discussing needing to find udfa at a time when it wasn’t sexy – needed talent, and cheap
      • Only had 5 draft picks, late rounds mostly but had to fill a roster of 22 more
      • Brought in all of the undrafted free agents and eventually had 20% playing, few starting also
    • Making sure to prioritize talent over anything, not overvaluing high draft picks
    • Culture of change with placing a system around high valued guys who others thought were low value
  • Alina Trigubenko, Founder & CEO of Awarenow (Wharton XM)
    awarenow

    • Holistic and integrative nutrition
    • Corporate and enterprise customers – consumers within those that will do it
    • Calm / Headspace – next level and how
  • Shawn Burcham (@PFSbrands1), PFS founder, Open Book Management (Wharton XM)
    pfsbrandsonlylogo_hompage_2018

    • Being from the midwest and going to Tanzania for farmers
    • Keeps open books, shares with employees, prices with farmers
      • Has 60% more return for farmers and will even return cash (after being above fair price and world commodity)
    • Daughters played on same soccer team as John Sacks – read the book and was interested in changing to open book
  • Tim Chen (@timchen82), CEO of NerdWallet (Leadership in Action – Wharton XM)
    nw-default_og-image

    • Going through board – including AMEX former CEO, Jim (both from Series A investors)
      • Board as governance body, weakness on exec team, okay with level of risk
    • Initially believed he had to be smartest in the room but quickly realized the organization had to be working together
      • Have to switch mindset from point guard to coach – from Dalio
      • Investment committee – reasoning behind requests and resources, exec team reads through it and approves or not
      • Executive team depends and changes over time, common for product dev
        • Marketing, Product, Design, Legal, Eng, People, Content Heads
        • Monitoring (leading exec team similar to parenting) – irrelevant for what you say, but seeing what you do is the arbiter of what’s going on
          • Rewarding and punishing as consistent or constructive
        • Culture for what is okay and what is not, role of hiring and inspiring an adequate team to grow company
          • Maybe they don’t have right network for company, maybe can’t inspire
        • Have to be technically proficient in their space
    • Went from very niche product to being widely known once they started covering nearly all financial products consumers cared
    • Seeing around corners to bring himself and the org up the hill and grow
      • Surrounding himself with execs and others, getting named one of Top Workplaces in 2019
  • Adam Davis, CRO at Harris Blitzer Sports and Entertainment (Wharton XM)
    unknown-4

    • Discussing on-ice and on-court revenue for Devils and Prudential Center
    • Coming and expanding Prudential Center into what it is now – leading entertainment center
    • Up to 49 concerts recently, more than Devils games
      • Data driving who wants to go to games, concerts and how that can be used to improve experience
  • Rare as One Project, CDCN, Dr. David Fajgenbaum (Wharton XM)
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    • Partnering with Chan Zuckerberg Initiative
    • Collective network and how do you widely adopt principles for other diseases
    • Partnerships with hospitals / care providers
    • Having a different background between Penn and medicine, MBA – not great for those that don’t have 5+ years
  • Nick Johnson (@NLJ1), Principal at Applico (Wharton XM)
    applico_company_logo

    • Author of Modern Monopolies
    • Discussion of platform businesses and linear – trying to combine
    • Encouraging linear businesses to, where applicable, try to get into platform business – didn’t provide any concrete details how
    • 3-5 strategies compared to 5-7, where hard for CEO and board to stay the course without “being 1% of 1% of CEOs”
    • Seemed to only mention Amazon, Airbnb, Walmart, Alibaba, ebay
  • Kulveer Taggar, founder & CEO of Zeus Living (20min VC 5/31/19)
    volcp38g_400x400

    • Raised $14mn from Initialized, NFX, Floodgate, YC, GV and Naval Ravikant
    • Co-founded Auctomatic with Stripe’s Patrick Collison and sold for $5mn
    • Angel investments include Boom, Airhelp, Meetings.io
    • Went to work at Deustche Bank and had a friend who had started a company at 15 selling computers, went to uni and offered a PR role
      • Eyes open to entrepreneurship and SV tech start-ups, just before finals got to come to Bay Area and Google office
      • Cofounder Joe was moving from SF to Palo Alto because his wife got residency – took weeks to try to get home rented out
      • What would be the UX quantum leap for your problem? Joe’s problem sparked the idea
    • Go to website, type address for your home and it gives you a price – you hit rent
      • Inspired by Opendoor, Stripe’s 7 lines taking payments, lot more rental data
        • Offer to sign lease with homeowner, gain data and solve the problem on demand side
    • All being impatient and learned that long-term horizons could’ve been better after hearing Zuckerberg/Bezos
      • Being intentional with culture – lot of fun – 5 guys in 2 br apartment where things may have gotten too far
      • Create collaborative environment
    • When you rewrite code, have to redo processes as well in tech-enabled
      • Acquiring and creating physical things – David Han at Instacart said thinking about output
        • Surface area of inputs: Zeus has to be good at many things
          • ID R/E, Pricing, Assessing, Designing, Furnishing, Marketing, Awesome CX, Marketplace matching
        • Then, you can get the output
    • Garry as having a conviction quickly – sees something that can change and invests quickly
      • CoinBase – liquidity crunch and he wired money instantly and is supportive
    • YC had an experiment funding teams w/o ideas – did it with Srinivas who’d done it
      • Got a check w/o any idea (had done YC in 2007) and YC had scaled a lot
      • NFC technology – was too early for scaling pmf and got into NFX with status app – status on your phone
      • Felt like he’d spent 3-4 years of working on stuff and hadn’t gotten anywhere – taking market risk with what you’re building
        • Instead, create a list of top 20 things by $ amount spent
        • List of top 20 things by $ amount frequency
      • If you have to ask whether you have PMF, you don’t – yanking your head forward with your nose, for instance
    • Did 6 weeks of data experiments, conversions tests, 6 weeks of qualitative research talking to users, investors and r/e
      • After 2 months of diligence and testing, partner at NFX sent him a test: In 6 weeks, get 10 homes on your market.
        • What’s margin structure, is there a market? Strangers controlling home.
      • Took about 4-5 months
    • Vulnerability strengthened his leadership, can’t be perfect CEO with all answers – motivated to go for culture
      • Once a quarter off-sites, “if you really knew me…” building stronger connections, team bonding
      • Work is where you have your professional self and you bring your whole self, manifests in itself
    • Fav book: Midnight’s Children – historical fiction with India told; How The Mind Works by Pinker
    • Change the bragging culture in tech – raised this much, vanity metrics and being counterproductive – not open or genuine
    • Running into a bottleneck will use software to break through – automate something that may have been manual processes
  • Michele Romanow, Founder & CEO at Clearbanc (20min VC 5/10/19)
    • Wants to spend $1bn in 2000 companies for access to capital
    • Founded SnapSaves, mobile savings platform acquired by Groupon and before that, Buytopia, one of Canada’s top ecommerce sites with 2.5mn
    • Engineering, started a coffee shop on campus
      • Figured out worldwide supply sturgeon caviar was down by 95% due to overfishing Caspian Sea – built to east coast for fishery
      • Chefs couldn’t get product, so they had a ton of buyers – giant recession in 08 as 21 yr old in luxury good space
        • Went to ecommerce space, didn’t raise funding, bought 10 competitors – controlled CAC and low
    • Canada’s Shark Tank – Dragon’s Den – do 17 days of filming back-to-back, see 200 startups
      • Had a father and son who wanted $100k for 25% equity – really needed $100k but realized she could do different deal
        • Wanted to see Facebook ad account to make sure ROAS was what it was
        • Companies spending a ton on early CAC
      • Estimate that 40% of VC dollars go to Facebook and Google ad spend and marketing
    • Works for positive unit economics and spending a lot of CAC – any ecommerce company, 70-90% spend cash
      • Subscription boxes, consumer apps/subs, b2b box even – can fund it for way less
    • Data science time has to be very good – not lottery tickets, 6% is ideal for them
    • VC as true risk capital – 0 to 1 risk, crazy piece of AI, solving disease, then it makes sense
      • If you know channels are working and repeatable, should be able to get capital
      • Comparison of Gates at Microsoft IPO or Lyft (50% ownership vs 3%)
      • Just celebrating when founders give up control / piece of company
        • Milestones for products, hitting 1mln users, etc…
        • Funding
  • Antonio Garcia Martinez, author of Chaos Monkeys (Launch Pad, Wharton XM)
    • Comparison of Seattle and SF and NY
      • SF being loud, Seattle being quiet but not necessarily huge, NY has less loud but big
    • Good mixture of deciding where to be

Fun Founder Stories (Notes from July 29 – Aug 4, 2019) August 21, 2019

Posted by Anthony in Automation, Digital, education, experience, finance, Founders, global, Hiring, Leadership, marketing, medicine, questions, social, Strategy, TV, Uncategorized, WomenInWork.
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Starting with a discussion of Neuralink (Musk’s… brain-child of a company for neural lace) and how it reminds the a16z crew of invasive compared to non-invasive surgeries / medical tech. How did TikTok vary itself in the social space and explode in popularity? Harry Stebbings of 20min VC had been going on and on about HiringScreen and finally had the founder on which was fun to hear. Richard’s origination story for the company and his path that he took was fascinating.

Then I happened to listen to a few different shoe companies with founders on serendipitous and creative stories. One traveling to a new and different country and absorbing the culture to his story. The others, seeing a problem that seemed to arise and noticing there should / could be a solution. Then catching breaks for each of the 2 companies – including the bootstrapping and doing it on their own as something that was fun enough helping people solve those problems / be happy with their footwear. I strongly suggest looking at Sabah shoes for men’s drivers-ish and Birdies for women who go to parties where they may need slippers or comfortable everyday ones.

E-sports and digital discussion for a16z was fun in how society is adapting to digital experiences or how they meld entertainment. For those that don’t think esports may be viable, it’s easy to argue in the cases where they watch reality tv or even game shows (which have been around since tv). It’s just changed how we consume and perceive it as interactive live games vs recordings. Also, malls that are less successful or in areas have been able to take advantage of the space available.

Vivino’s CEO joined and talked about how he is trying to socialize and give people options in the wine space – which, let’s be honest, is always a good thing. Goldie Chan discussed filling the gap in an employment by consulting, by accident, nearly. She turned it into a full pivot consulting and has taken advantage of her great skills at marketing. Hope there’s something for everyone!

  • Neuralink & Brain Interface (a16z 7/21/19, 16min on the News)
    1200px-neuralink_logo.svg_

    • With Vijay, Connie Chan, JPM
    • Announcement of neural lace – culture sci-fi by Ian Banks – processor & sewing machine
    • Non-invasive vs invasive (femoral artery all the way up to the brain)
      • LASIK as invasive / dangerous (still even, but now much better, accepted)
    • Announcing in rats and in monkeys now (surprising his president)
    • TikTok as 3rd most dl app behind WhatsApp and FB Messenger, 1.2bln MAUs – having huge influence at VidCon
      • Sponsored by YouTube but TikTok had a large presence, the ban in India
      • Short, 15sec videos – 1 hit piece can trigger enough people
    • How would they make money? – ecommerce, restaurants, retail – short videos for ads/commercials
    • FaceApp – probably nothing to worry about – unless high profiled public official, NatSec Space, leverage
      • Someone getting negative information or leakage – accusations of the country in general is silly
      • Countries consider privacy differently – in the US, convenience / UX will trump privacy for 15min of joy
        • Europeans, Germans, Italians for instance are more private
    • iHeartRadio announcing direct listing – before, emerging from bankruptcy or spinning off
      • Repurposed after Spotify / Pandora
  • Mobile malware and Bipartisan drug pricing (a16z 7/28/19, 16min on the News)
    • With Martin Casado, Jorge Conde, Jay Rughani
    • Monacle as mobile malware – March 2016 Android-based application
      • In security, netsec and endpoints – protecting desktops, for instance
      • Attacks phone with 2FA, even, and less secure
      • Can take calendar event, account info and app messages, reset PINs
    • Drug pricing – Medicare Modernization Act – why can’t Medicare use its purchasing power to negotiate medicine prices?
      • Part D – Medicare covering prescription prices, prevents HFS from negotiating any part of the value chain
      • Price of insulin where they get price hikes – new therapy gets $2mln for cures (R&D) differences, conflation
      • Price of successful drugs have to make money for drug and all of the failures
        • Counterargument – US subsidizes R&D for the world
        • Complex industry structure: manufacturers, distributors paid to move drugs through channel
          • Pharmacy benefit manager – who is eligible, who’s not – what are drugs for conditions and prescriptions
            • Helps insurers who gets the drugs – takes an economics layer
          • Insurers reduction drug spends, for $1 spent, manufacturer gets a small %
      • Dropping from $8k to $3100 out of pocket
        • Cap by tying to inflation (for growth) or annual price increases
        • May start higher prices because you can’t increase it much
    • Chain is not transparent, but also complex – tech can have an impact but needs help from policy to drive out some inefficiencies
      • Free market works if there’s transparency – what is a medicine and can you make it fair enough for everyone
      • Current system is not set up for the new medicines (extending life from 10 years to a cure)
  • Richard Hanson, CEO & cofounder of HiringScreen (20min VC FF028)
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    • Founded in Hong Kong in 2015
    • Studied law in Cambridge, did 11 years recruitment consultancy in London before moving to Hong Kong
      • Then created his own recruitment firm – had his own looking at 196 cv’s for an EA for someone
      • Score, sort and select candidates
    • Tech advances in recruiting industry – job boards and sourcing is at all-time highs
      • Barrier to application is all-time low but have too many to look for (especially manually)
      • Psychometric and phone facility stuff to find relevant candidates – get on with themselves
        • Go through rest of funnel to invest in the process in more efficient manner
    • Had always wanted to live in Asia – pretty exciting, bullish for Asia in general
      • Hong Kong, Singapore, Japan as hubs
    • If you have an idea, try to find someone or go ahead and do a view of what it may be executed on
      • He had the idea, went to his cofounder Luke (better at project management side)
      • Prototyping mockups and getting through the first steps efficiently – may hit a dead-end a few weeks in
        • Validating idea as soon as possible – customer or problems for people (heads of recruitment firms for his problem)
    • Making an effort to code or understand a bit of the UX (in his case, CSS and HTML to understand a bit)
      • Compared to languages in a foreign country
      • When his CTO introduces people, he wants to be confident about what the developer has been doing and understanding their past
      • His responsibility to show an effort/commitment in the job role
    • Looking to raise a round – HiringScreen did it in 8 weeks
      • Competitive slides, why you want to raise, how to convey mission statement, skill and productivity gaps
      • Understanding his potential investors, as well
    • Accelerators – choosing the right ones? He’s with the Blueprint Accelerator by Swire properties
      • B2B focus, no equity in startups – working space and Swire network of companies (conglomerate of different co’s in verticals)
      • Sponsored him and tried to help advance the company by talking to other HR talks
      • Mentions Brinc as hardware accelerator near the top
    • Idea of equity early on would depend on your assessment of what the startup needs?
      • Super low cost – accelerator with working space?
      • Product but proven use case – Blueprint to trial product and test it
      • Balance the need with the equity they’re taking
    • The Alliance book by Reid Hoffman for looking at employee and employer workplace, tour of duty principle
    • Brad Feld and Jason Calacanis’s blogs, Reid Hoffman as the most admirable founder – better people to take LinkedIn on
  • Jennifer Golbeck, College of Information Studies and Affiliate Professor at UMD
    • Talking about social media research, truth and justice
  • Carl Ericson, CEO & cofounder of Atomic Object (Wharton XM, Mind Your Business)
    atomic-object-wordmark-500x265

    • Grand Rapids, Ann Arbor software product development company and why he chose there
    • Sails at Grand Rapids Yacht Club
  • Bianca Gates, Marisa Sharkey, Birdies co-founders (Wharton XM)
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    • Discussing how they started them and Feb 14 – when she landed an article with a SF Chronicle fashion correspondent at a dinner party
    • Driving up to the other in order to get all 2000 orders packaged and sent out

 

 

 

  • Mickey Ashmore, founder of Sabah Shoes (Wharton XM)
    sabahtwotone

    • Doing a 6 month project after Seattle in Turkey – turned into 2 years as the only non-Turk
      • Grew an affinity for the people, culture, food and trends – girlfriend’s grandma at the time gifted him a pair of handmade shoes
    • Returned to NY and beat the crap out of the shoes – wanted another
      • Reached out to the maker (current partner) and bought another pair
      • Ended up getting 5-6 in different colors, customized without the flip – people said they were awesome
      • Ordered 300 – could get 150+ and did a party to showcase them with cocktails, enjoyed hosting
        • Got 30-40 orders on the first night, decided to do it for the rest of the summer “Sabah Saturday/Sundays”
    • Realized it could be a business after in the summer he was making more from shoe sales than his NY P/E job
    • Expanding from 3-4 employees to 40 and expanding from a home to a warehouse – border of Syria/Turkey
      • Has a few key employees that are Syrian refugees – part of the brand and they showcase it on the site
        • Not branding directly, but definitely part of the story
  • Goldie Chan (@goldiechan), digital marketing expert of LinkedIn and actor (Wharton XM)
    • Discussing quitting her job and making a fake company while unemployed
      • Turned into a marketing consulting gig – had a few clients, had to create a company
    • Now doing talks and discussions
  • Kurt Seidensticker, CEO of Vital Protein (Wharton XM)
    ca400555-4bb7-4c66-a217-b5ac910cba73._cr5101107332_pt0_sx600__

    • Collagen and explaining to people how it was – getting some in to Whole Foods through them asking
    • Didn’t hit him until he was in Italy and 2 random women at a café pulled their Vital out
    • Did about 10 companies, 2 succeeded enough to pay for kids college and allow him the freedom
      • Was doing Vital during another company until it surpassed the other
  • Fortnite, esports, Gaming (a16z, 16min on the News)
    • 2 million concurrent livestreaming – not as big as GoT, for instance
    • With Andrew Chen, Darcy Cooligan (investing team on consumer)
    • Bigger prize pool for Dota 2, $3mil for Bugha’s win was larger than Tiger’s Masters victory
    • 10 years for Riot and League – still grossing billion, WoW / Runescape
    • Billions of video consumption between Twitch, YT (and now Microsoft Mixer)
    • iPad can play Fortnite pretty well, for instance – massive multiplayer opportunities
      • Instagram and this generation for coming together as people – Minecraft/Fortnite
      • Gaming and cultural zeitgeist to hang out with friends
    • Sonal did a fight with editorial desk and had seen it for a profiling in 2013 – argued it was similar to sports
      • Big business and much of the same thing – management company, played 2+ years for 6-8 hours, sponsors, fans
      • Performance entertainment and personality-based
        • Comparative for game shows – other people answering trivia, reality tv
    • Strong incentives to keep games going – user-generated content
      • Established player leading way to user-generated thereafter
      • For Fortnite, building levels (similar to mods and mod community in Minecraft and Roblox)
    • Games stadia for esports and digital dualism (in real life compared to virtual – game is the bridge)
      • Malls building areas for this part
  • Chris Tsakalakis, CEO of Vivino (Bay Area Ventures, Wharton XM)
    aws_vivino_logo_600x400.cb594b3d79815eece9e8c685a7b8d043b7910b95

    • Having users and getting customers – at least 1 employee in each region where they sell
    • Mostly in US, Europe – hq in Dublin
    • Bunch of users in Asia / South America (Brazil, specifically), but don’t sell there yet
    • Not taking VC until more recently

Idea Conversion to Algorithms (Notes from July 22 – 28, 2019) August 14, 2019

Posted by Anthony in Automation, Digital, education, experience, finance, Founders, global, Hiring, Leadership, marketing, medicine, questions, Strategy, Uncategorized, WomenInWork.
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There is quite a bit in this week’s notes to unpack. Most of the stories and experiences provided by the guests, though, premised around testing a hypothesis or quickly trying to solve a problem in a manner that, once validated, could become much more efficient. When trying to make the solution more efficient, whether data or AI-driven, then further questions have to be asked to ensure a proper, scaleable and ethical solution. Lauren deLisaColeman discussed the ML application ethics and what guides them. Karim Galil observed that patient history was stodgy and doctors weren’t in to new things that could save them time because of the catchup time. So he had to produce a solution that could be effective immediately and worth giving back doctors time – he chose oncology to do it in.

Alyssa Dineen discussed profiles as well, but of the dating variety. There were more ways to screw up than attracting attention. At first, she could do it manually before realizing she could improve the work she did and make it better for both business and clients. Khartoon at Spotify talked about how they started at Spotify with freemium model and the streaming aspect before connecting that with all of the data to their corporate and enterprise partners. In turn, the two-way data sharing enabled them to pivot nicely to provide more value and eventually into a paid model that helped the business. Lastly, Max Bruner talked about his hell of a journey where he eventually landed at Metromile, but not before building Mavrx in the best form of dirty solutions – cameras from planes. Then realizing what could be attached and automated to be a full provider to farmers in much of farmland US and improving it. Quite the product path.

Curious about this concept for much of college / graduates.
Idea possibly worth pursuing – saw post on similar idea. Fake VC – take seed or series A opportunities, combine with data plan (via other post). Have various students make their opinions on what to seek, whether funding was good. How to think of next steps? Make action plan, but templated and maybe try to get an argument. Podcast/videos presenting either side. Try to talk to startup that received. Good sourcing examples, data (limited) problems, industry seeking.

Hope you enjoy the week’s notes and check everyone out!

  • Lauren deLisa Coleman (@ultra_Lauren), Digi-cultural Trend Analyst (Wharton XM)
    • Forbes contributor, discussing AI and ethics of ML applications
    • Who makes the rules – is the data guided?
  • Karim Galil, Founder of Mendel.ai (Wharton XM)
    mendel-logo

    • Working in Egypt initially, wasn’t in Cairo but started in Sinai – beach and did surf/kitesurfing lessons deal
      • Talent was not as abundant, but did a project with Pfizer, Dubai government and others
      • Egypt had free healthcare but hospitals couldn’t pay for procedures that may have been experimental – trials would allow it
        • Wouldn’t hear about trials until it was too late in his oncology rotation
    • Observed that you could have a dating record online and perfect match, but not catch up on papers in context in industry
      • Had to start somewhere – landed on oncology – wasn’t a junior vs senior thing – few doctors had the time
    • Losing patients to cancer and messy medical records – trying to improve the healthcare industry
    • Can get a bunch of oncologists to drop everything and work as data scientists
      • Cheaper in Egypt and feasible – fair salaries to do this
      • In the US, very unlikely to happen as oncologists are far above data scientist salary
    • Medical matching service – AI-powered to do trials for language content
    • Paying ~30 employees, where 15 of them are oncologists
  • Alyssa Dineen, Style my Profile founder (Wharton XM)
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    • Personal stylists online and in NYC
    • Wanting to expand – mentioned Forbes article and expanded 3x
      • Mostly from out of the NYC area
      • Would love to open LA, SF, Chicago, most urban areas
  • Daniel Korschun, assoc prof of Marketing at LeBow Drexel (Wharton XM)
    • Marketing and branding for Kaepernick’s Betsy Ross argument
      • Nike blew opportunity to turn the flag into a very big positive – “Unity” or 13 civil rights activists
    • Owning the branding, making sure to keep it different
    • Making statements or seeing both sides can attribute your opinion without actually doing so
      • Being “informed” by museum after making case for both sides
  • Chandra Devam, CEO of Aris MD (Wharton XM)
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    • Discussion of iTech NASA competition with Star Trek-surgery
    • A/R and V/R applications – board with the tech
  • Rachel Glaser, CFO of Etsy (Mastering Innovation)
    sell-jewelry-on-etsy

    • Search algorithms to increase sales
    • Etsy as vintage space – defined as 20 years, or handmade materials or put together
    • Have to stay ahead of counterfeit and trends

 

 

  • Sitar Teli (@sitar), MP at Connect Ventures (20min VC 12/30/15)
    ll9ofnkowyknor16pe7t

    • Doughty Hanson Tech Ventures, series A round in SoundCloud
    • Dual degree in MechE and Econ from Duke
    • Taught English in South Korea for a year, 3 years in IB in US – Broadview (M&A, tech focused)
      • Enjoyed working with the companies but not the banking side – best part was to hear how companies started and early days
      • Hadn’t considered London in 2005 when headhunter had reached out
    • Gaming, fintech, music & content, adtech where Europe is producing big, growing companies now (2015)
      • More cross-pollination of entrepreneurs going back and forth or partnering with others
      • IB moving into VC – different perspectives for her 2 other partners
    • Starting a new fund – “one of worst startups you can think of” – competitive against established funds
      • Build brand, reputation, product and designing it (not just money but experience) – how to work with the founders
      • First year – founders aren’t necessarily eager – want a seriousness that came with business cards
      • Allocating $100 – she’d do $90 to the portfolio and investments, $10 to rejections and focus
        • For No’s, make it quick and even in the meeting or cut short
    • Looking for companies
      • Founders that really understand the market they’re building for – how passionate, how much time to understand, experience
        • CityMapper founder – public transport and how they move through the city and how it can help
        • Stockholm-based Oxy – music creation app (prior at SoundCloud) – digital music tech, digital to greater number of people
      • Founders on a mission (other than $)
      • UX-focused and at the center of what they do
      • As an aside, whole lot of $ (maybe at seed) but it’s not the only bucket – ecommerce, adtech, depending on what founders are
        • Thesis: investors can dictate the entrepreneurs and align them
    • Crowdfunding alongside VC – many biz don’t need venture capital but do need capital
    • Amazing Adventures of Kavalier as book
  • Khartoon Weiss, Global Head of Verticals at Spotify (Wharton XM)
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    • Starting with the streaming service as free and eventually getting into freemium / subscribers
      • Providing value to users and charging for it
    • Analyzing usage data from subscribers and free users to personalize the experience for listeners and serving brand partners
    • Core value of giving creative artists the opportunity to live off their art
    • Advertisers will see data in events that drive music playing
      • For example, an eclipse occurring will produce more song plays with eclipse themes – can drive user advertising for it, connect brands
  • Max Bruner (@maximusbruner), VP CorpDev at Metromile (Wharton XM)
    metromile

    • Talked about Mavrx, geospatial and agtech company
      • Flying drones and then planes over farmland to assess and improve efficiency
      • Didn’t have the initial equipment when they went to South Africa (needed data during US’s winter)
        • Had pilots take their cameras, IR and others
    • Most of clients were in the midwest – eventually sold to various parts of the vertical
    • Attended UW-Madison in econ and Arabic – did a year abroad between Egypt and Qatar (at the time, nice and hadn’t been through revolutions yet)
      • Felt like something was missing so returned to DC where he worked in the DoE under Reinvestment and Recovery Act
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