every rich person i know grumbles about some other richer, but dumber, person they know who made a bunch of easy money doing something trivial

Yea sooo, I’ve been using @roam instead of zoom annnnddddd I kinda like it yall

Signs you've made it: - Forgetting what day it is - Turning down 90% of meetings - Being nearly impossible to reach The goal was never to be busy.

Yext was left for dead. Now every incremental dollar funds its own growth. Michael Walrath on the magic of an 80% gross margin business.

On this weeks @theallinpod @chamath @davidsacks @jason spoke with Ben Horowitz from @a16z about how this buildout is different from the internet bubble buildout in the late 90s. Ben’s take is smart and he identifies a real difference. That doesn’t mean he’s correct. I spent some time thinking through HOW Ben might be wrong about this. NOT a prediction, but well worth discussing the risks.

anyone have a human contact at Microsoft Advertising? my account is shut down because they think i'm malicious and I cannot convince their AI Agent otherwise.

Cars ARE flying... 😏

how is their not a southpark episode about the Druze

What’s happening in Paris and Milan is no surprise to anyone who has spent time around young people in Europe during the 2010s: Virtually all of them were working on their 4th masters degree in social welfare, were unmarried, attended communist dinners every night, and regularly participated in riots. Now the economy is suddenly transforming and they have nothing to show for it.

just met a guy in miami who switched from crypto to data broker it’s over

I have no idea if this disruption in the AI trade is a blip, or the beginning of an unwinding or rationalization that will turn off the growth capital spigot. No one knows. But we have seen stuff like this before. A few things that EVERY founder in tech should be thinking about in this market environment. In periods like this, it is really hard to believe the growth dollars (equity and debt) are going to shut off until they do. If you are burning cash, you should always understand your backup plan to survive a protracted dislocation. 1. What is your plan if capital markets (equity and debt) closed tomorrow. Can you get profitable fast enough? Can you extend the runway indefinitely? 2. How durable is your revenue? How much of it comes from other companies that rely on new infusions of growth capital to continue to spend with you? History is a teacher. What 1999/early 2000 dotcom bubble and 2021 SaaS bubble had in common: - in both prior bubbles, default assumption there was an exit path at historically high multiples (more IPO in 1999, more PE buyout in 2021) - Default assumption that more growth capital would be available - Revenue growth relied on other venture businesses. In 99, lots of ads supported internet businesses deploying growth capital to others. In 2021, mainly seat based pricing models was magnified by selling between SaaS businesses in venture funded hyper-growth mode. When the growth capital dried up in 99 and late 2021 and early 22, it not only increased pressure on companies to be more efficient, it also pressured revenue durability because a big chunk of growth came from other loss-making growth businesses. This cycle isn’t exactly the same, there are some key differences, some would make any dislocation better, some would make it worse. - More token based selling vs. seat based - Definitely growth magnified with the buy/sell between high burn growth companies - Much lower gross margins on current crop of high growth AI companies, which makes “default alive” - pulling back to breakeven much harder than 2021 Wherever you are today, have a plan.

update: waiting in a line for an unmanned SELF CHECKOUT is worse

This is what it looks like when civilization ends.

Western liberals imported the third world into France and other countries in the name of diversity and compassion. They ignored fundamental questions of assimilation and compatibility. They were told it would lead to this and they didn't listen. I pray that France, a beautiful country of amazing people, will stop this madness before more of its landmarks burn. And I hope Americans are paying attention. This is the future congressional Democrats seek for your country.

after 40 years, i can definitively say my least favorite activity is … standing in line. any kind of line. i’d rather be doing anything else

in business, it is better to be late than early

curious: any TJHSST alums in Miami?

my superpower is seeing how much farther i can drive once the gas light comes on

super alpha people are able to ally with other super alphas to achieve more