BC INTERNET
Saved by @Alex1Powell

Some gems from @MacConwell of @RarebreedVC in Clubhouse right now:

 1) VCs are looking for startups that can get to $100m / yr in rev by yr 7-10.

VCs need this kind of return in order to produce great funds.
2) And so many companies won't get to this level - and that's not a bad thing - but then it means you should be thinking about trying to get going w company revenue since you can't count on VC backing.
3) someone asked about age and fundraising & do accelerators help?

Age doesn't matter. But just make sure no one is taking advantage of you. And as such, accelerators can help sometimes w that guidance.
4) Someone got a rejection because he had a teddy bear in his room (side note: what investor says that?!?)

Mac says he's been there and has heard that saltiness. But you're going to get a lot of nos. And you gain more leverage w more progress and traction. So just keeping going.
5) Someone is being told by pitch competitions that she is too early or too late. (this "Goldilocks & the 3 bears issue" is one of the biggest problems in the industry IMO) Everyone has a different def of what "early" means...

Mac recommends networking w the pitch organizers.
6) Next q is about derisking customers before building out the product.

I'm not sure if it's clubhouse or my internet but I didn't quite catch any of this part.
7) Advertisement for @RarebreedVC - if anyone wants to be an LP, they are open to more investors - go to
their website!

Fwiw, I'm a (small) LP and highly recommend checking it out.
8) Advertisement for past @HustleFundVC venture fellow @jasminvests - she is going to HBS in a couple of years and is in process of becoming a VC scout. (If you are looking for scouts or even want to hire her away, I highly recommend her!)
9) Someone asked about raising $$ for a travel startup

I missed most of the responses but I think the tl;Dr was that the founder should think about other travel mkts that are here - like road travel. And keep pitching!
10) Aspiring VC asked for advice.

Mac's go-to is honesty. He is direct and upfront w/ a founder. (And I concur!)

Not all vcs do this though.
11) I missed the q (sorry am apparently a horrible transcriber!)

But if you want to work w Mac, send him honest updates w a cadence. Don't just sugarcoat news. Establish rapport. Be genuine - treat him like a person. He is not a walking checkbook.
Ok it's midnight on the east coast, so the conversation is now over.

Sorry for the poor transcription job - between the audio dropping in and out and certain offspring stalling on bedtime, I probably only caught 70% of it. Next time!!

More from Elizabeth Yin

Elizabeth Yin
Elizabeth Yin
@dunkhippo33
Today's thread is on the affiliate business model. Many years ago, I used to be an affiliate marketer. If there is any way to get schooled in marketing, becoming an affiliate marketer is probably the best way.

What is affiliate marketing and why should you care?

Read on >>

1) Affiliate marketing is selling products or generating leads on behalf of other companies and getting paid a commission for those products.

2) Some notable examples you've seen before:

NerdWallet - you read their articles on best credit cards. You click on a link to one of those cards. You fill out an application. They get paid for delivering that lead to the cc company.

3) In https://t.co/kSfWS69ybp - same thing. Any of their financial products -- you fill out an application, and https://t.co/mCrBT43mOj gets paid for that.

But the affiliate revenue model applies beyond financial services products.

4) Wirecutter -- you see a neat product they review or talk about. You click through and buy.

Wirecutter gets a cut of that transaction.
STARTUP
Elizabeth Yin
Elizabeth Yin
@dunkhippo33
Saturday thoughts on market pull. What is it? How is it different from Total Addressable Market (TAM)? And what ideas tend to have strong market pull?

A thread >>

1) First: "Market pull" != market size.

IMO (and most VCs will disagree!!), market size (TAM) doesn't *really* matter. But market pull DEFINITELY does. For that reason, I've almost never asked a startup about TAM.

Why?

2) First, what is TAM?

TAM is a sizing of how big your market is. A good way to estimate this is - if you can get to all potential buyers and based on how much $$ they are worth to you, how much money can your company make if you took the whole mkt?

3) An example: Say we run an e-commerce site that sells hippo food. TAM in the world:

-1000 zoos have on average 3 hippos = 3000 hippos.
-Each hippo eats $100 worth of food each day
-365 days * $100 * 3000 hippos = $110m per year globally

4) But, we'll come back to this.

Why I don't like TAM - it doesn't take into acct a few things:

A) how hard it is to get customers
B) how much more you can upsell once you have customers
C) how fast the mkt is moving up or down
INVESTING , ALL
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Elizabeth Yin
Elizabeth Yin
@dunkhippo33
Last week, I wrote a thread about generating momentum for startups.

Today's thread is on how emerging fund managers can generate momentum for their fund.

Whatever you do, momentum is so impt to get ppl onboard -- for hiring, for sales, for fundraising.

Read on >>

1) First, why does momentum matter?

Think about it from the "buyer's perspective" -- it is almost ALWAYS better to wait and get more information if you can get the same deal. Right?

More info on a potential investment. More info on a new product. Etc.

2) There are few situations where it's impt to be a first mover.

If you're a product buyer, it could be you have a dire situation at your company that alternatives can't handle.

But if you have a decent alternative (alternative product or alt investment), it's better to wait.

3) That means it's YOUR JOB to create momentum. Whether for fundraising, sales, or hiring.

So with that in mind, how do you generate momentum for fund fundraising?

4) In a prior tweet about generating momentum for startup fundraising, essentially I said to limit your supply (the amnt you are raising) in tranches AND to increase demand by packing in mtgs.

Unfort this doesn't quite work well for funds.
STARTUP , FUNDRAISING
Elizabeth Yin
Elizabeth Yin
@dunkhippo33
Some wed night thoughts on investor “value add”:

1) At the end of the day, money is a commodity. That mere fact should make every vc shudder.

It is amazing how many ppl (incl myself) clamor to get into a commodity business!

2) As such, to differentiate, different investors provide other things beyond money. Sometimes it’s community. Sometimes hiring help. Sometimes expertise or sector-focused networks. Etc

3) And some VCs are truly value add! For example, if I had an edtech co, I would hands down raise from @jwdanner - he has been there as an entrepreneur, built schools, and invested in so many hit edtech companies.

4) But at the end of the day, regardless of who invested in you, it’s the founders + team who are doing all the work.

5) when I think about what I’ve done for my own founders, it’s ranged from doing intros (mostly to other investors) to cust acq advice to feedback etc

But the reality is - all of my founders would’ve figured out how to get that intro or that piece of advice w out me
STARTUPS , INVESTORS
Elizabeth Yin
Elizabeth Yin
@dunkhippo33
Saturday thoughts on funding: Where it helps. Where it doesn't. And how it affects team, success, and PM fit.

This is just my $0.02 after looking reviewing 30k+ early stage startups personally and having led 350+ investments across 2 VC firms & as an angel.

Let's begin! >>

1) Money is great to have in building a startup (for the least dilution and pain possible) That's true and always will be true. 😆

But just like how money can't buy you happiness, it also can't buy you PM fit.

2) PM fit is the holy grail for software startups. (we're not talking biotech - if you have a cure to cancer, I guarantee you everyone wants it).

But for software startups, it's unclear if ppl want your product at your price pt.

3) If you don't find PM fit, in this day and age, you will be able to get some sales. Maybe even say $1m in sales (or more!) per year, and you can still make a living.

But having sales does not mean that you have a repeatable customer acquisition process that can be sustainable

4) As an aside, that is why we invest at pre-seed & don't care about startup traction, because I don't believe traction at the earliest stages suggest PM fit. Traction only shows that a founder can execute (& that's impt too) but there are other ways to assess execution earlier.
STARTUPS

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FRANCIS AARON
FRANCIS AARON
@FrancisAaronUK
Transgenderism resembles a mass psychogenic illness that has spread thanks to the internet. If there were no Tumblr identity fluidity nonsense, and if Reddit and YouTube had never existed, most “trans” people would not have landed on “gender” as the source of their ills.
1.

It is handed to them in the same way religion is handed to children. Thoughts and ideas are set before them, and they have brought these thoughts and ideas to live in themselves. Without the Internet, their feelings of dis-ease would have found a different explanation.
2.

These ideas became a framework for self-understanding, a map that instructs their actions, a vocabulary that programs their tongue. The pursuit of identity was the task, the online bubble its surrogate. They were commanded by it, and it gave their lives purpose and meaning.
3.

It had benefits. It catered to vanity. Social adulation arrived with each new step. This is why they so fiercely cling to it, since any conceptual breakdown would shatter the world they’ve built, which has been buttressed and fortified through these concepts – these errors.
4.

Its appeal first came as an escapist fantasy for the dysmorphic and disenchanted. Unbound from the meanings thrust upon them by others, they could instead become self-creators. They imbibed the dogma that suggested only two paths lay before them: – transition or suicide.
5.
INTERNET
\U0001f1fa\U0001f1f8\u2694\ufe0f\u03b1\u0432\u0455\u03c3\u2113\u03c5\u0442\u0454\xa2\u03c3\u03b7\u03bd\u03b9\xa2\u0442\u03b9\u03c3\u03b7\u2694\ufe0f\U0001f1fa\U0001f1f8
🇺🇸⚔️αвѕσℓυтє¢σηνι¢тιση...
@Absolute1776
(1) Let’s get one thing straight right now;

I was a mod on r/watchpeopledie.

Ive taken part in uncovering evidence of p3d0’s to reveal to LEO.

I have seen some *dark* sh*t in my day.

Unless you are used to it; you will NOT be able to handle “seeing the truth”. I promise ➡️
INTERNET
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THE HELLYWOOD REPORTER \U0001f1fa\U0001f1f8\U0001f1fa\U0001f1f8\U0001f1fa\U0001f1f8\U0001f1fa\U0001f1f8\U0001f1fa\U0001f1f8
THE HELLYWOOD REPORTER...
@mikewolfpack100
Question: HOW Many Accounts Does Twitter Follow???

Answer: Only 9

WHO Are They Following???
INTERNET
Suzie Jabarian
Suzie Jabarian
@SuzieJabarian
*** THREAD ***

Three really useful Google Chrome extensions for Google Classroom.


1️⃣

Mote: voice notes and feedback.

This is an efficient tool for recording and posting verbal feedback. Mote is fully integrated into Google Docs, Slides, Sheets and Google Classroom. This makes it incredibly accessible and easy to use.

The mote icon (purple) appears in the 'private comments' box when you view submissions in GC. You simply click on the icon and record. With voice recording one click away, it is easy and quick to use. You only get 30 seconds but this encourages succinct, precise feedback.


It's great that you can view the document you are providing feedback on whilst recording. This helps to ensure specificity. For example, you can highlight specific examples from a student's work and then talk through them. This sort of thing prevents me from waffling, anyway.


There are other benefits too:
- Verbal feedback can be transcribed, with the option to review and change before posting.
- Mote supports transcription in more than 20 languages.
INTERNET
Simon Wardley
Simon Wardley
@swardley
X : Can you apply pace layers to maps?
Me : You can but what is where evolves. However, same rules apply to things, practices, data, knowledge and ethical values. All are forms of evolving capital. In the mapping world, we refer to this with pioneers, settlers and town planners.


X : What's the robot for?
Me : Image from an older presentation slide, don't worry it has no relevance.
X : Is this linked to diffusion?
Me : Not simply. Evolution of a single component can consist of many hundreds of diffusion curves i.e. a virus diffuses but it also evolves.

X : Why have you got DevOps in legacy? We haven't even started yet.
Me : That's not my problem. I would take a look at serverless.
X : DevOps is serverless.
Me : Some of the practices maybe co-opted (see ITIL vs DevOps) but the new faction will decide what it is or isn't.

X : I also disagree with your methods graphic.
Me : Do you mean this? As applied to the following map?
X : Yes. Lean is suitable for innovation.
Me : Ah, that depends upon what you mean by innovation. If you mean Genesis then lightweight XP has it beat.


X : I disagree.
Me : Well, I've had 15 years of people telling me that Agile works everywhere or Lean works everywhere or Six Sigma works everywhere and why all the competing methods don't. I have no interest in the conversation. Use appropriate methods based upon context.
INTERNET

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STEALTH JEFF
@drawandstrike
Ok I was wrong about theHouse. 2 years of legislative gridlock = not fun. Few bills passing.

Control of the House is useless when it comes to keeping Trump from declassifying all the SpyGate docs. Or stopping an Inspector General from releasing a report.

Trump still gets control of judicial appointments so we can expect another 100 judges over the next two years. This time there’ll be no McCain or Flake playing the Maverick role with their swing vote.

That new margin in the Senate is huge if another Supreme Court seat comes open.

So from the responses I’m getting, people seem to think if Trump declassifies the Spygate stuff now, nothing happens.

Are you under the impression federal prosecutors have to wait until CONGRESS finishes an investigation and makes criminal referrals before the DOJ can act?

There’s a federal grand jury on McCabe right now. Did Congress ever finish it’s investigation and make a referral to the DOJ against him?

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Stephen Fasenfeld 😀...
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1. “Who Are Ireland’s Members Of The World Economic Forum Implementing The Great Reset In 2021 ? 🧵1/28

🕵️🔎 Politicians, Musicians, Clergy, Bankers, Journalists, Human Rights, Artificial Intelligence, Sustainability, Corporations & Agriculture


2. In previous threads I have looked at 🇮🇪 key players in the Trilateral Commission as well as 🇮🇪 people who have attended the Bilderberger meetings. I also looked at the 🇮🇪 in the Young Global Leaders which is a site run by the WEF. You will see a lot of crossover between them.

3. The purpose of this thread is to compile all the Irish members into one thread for ease of access and reading rather than having to dive through the WEF site. This is by no means definitive and I will be adding more over time when they pop out of the woodwork.

4. Ireland’s WEF members are drawn from all walks of life but can be split into 2 separate areas. The WEF calls the first category “people” and the 2nd one “agenda contributors”. In total Ireland has a minimum of 61 members. Some of the names will be familiar and others will not

5. In this thread I’m just going to concentrate on the 21 people (there are probably a lot more). There are also 40 “agenda contributors” which I will cover in a separate thread. The agenda contributors are those who write articles or do research for the WEF site.
ECONOMY
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Simon DeDeo
Simon DeDeo
@SimonDeDeo
This is a pretty valiant attempt to defend the "Feminist Glaciology" article, which says conventional wisdom is wrong, and this is a solid piece of scholarship. I'll beg to differ, because I think Jeffery, here, is confusing scholarship with "saying things that seem right".


The article is, at heart, deeply weird, even essentialist. Here, for example, is the claim that proposing climate engineering is a "man" thing. Also a "man" thing: attempting to get distance from a topic, approaching it in a disinterested fashion.


Also a "man" thing—physical courage. (I guess, not quite: physical courage "co-constitutes" masculinist glaciology along with nationalism and colonialism.)


There's criticism of a New York Times article that talks about glaciology adventures, which makes a similar point.


At the heart of this chunk is the claim that glaciology excludes women because of a narrative of scientific objectivity and physical adventure. This is a strong claim! It's not enough to say, hey, sure, sounds good. Is it true?
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Max Fagin
Max Fagin
@MaxFagin
November is here, and that means a massive shift is coming. And by "massive" I am of course referring to the redefinition of the kilogram unit of mass that the world has been building up to for more than 100 years. Let me explain:


1/ I've had an unhealthy fascination with metrology (the study of measurement) ever since my 2nd year as a physics major when I took a class devoted to duplicating historic physics experiments, so please indulge me for going into heavy detail (get it?) about the kilogram.

2/ So what actually *defines* a unit of measurement? If you're American, you probably know a mile is 5280 feet and a foot is 12 inches and an inch is 2.54 centimeters etc. But where does this chain of definitions end? Is it turtles all the way down?

3/ It's actually not! For all units (even the imperial units used in America) the answers all end with the Système International (SI) unit definitions established and maintained for over 100 years by the Bureau International des Poids et Mesures (BIMP) in France.

4/ At the base of this tower are the SI base units. Just 7 SI base units define every other unit in existence. They are:

Kilogram, kg (mass)
Meter, m (distance)
Second, s (time)
Kelvin, K (temp)
Ampere, A (electric current)
Candela, cd (luminous intensity)
Mole, mol (quantity)
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Vibhu Vashisth
@VIBHU_Tweet
LACHIT BORPHUKAN : AN UNSUNG WARRIOR OF THE AHOM KINGDOM & THE GREAT BATTLE OF SARAIGHAT

Originally named as Lachit Deca, Lachit Borphukan, the fierce and invincible Ahom Commander, was born during the early 17th century at Betioni in the Golaghat district of modern Assam.


His father, Momai Tamuli Borbarua was the ‘Governor’ of the kingdom and also ‘Commander-in-Chief’ of Ahom army under King Pratap Singha during his reign starting from 1603 to 1639. Lachit received military training from an early age and joined the Ahom King Jayadhvaj Singha...


...(1648-1663) as a scarf-bearer.  The post ‘scarf-bearer’ or ‘Soladhara Barua’ is considered as a part of the incumbent king’s personal staff. Owing to his military training Lechit was appointed "Ghora Barua", Supdt. of the Royal horses. When Chakradhwaj Singha became king..


..of Ahom dynasty in 1663,he appointed him Suptd. of The Royal Guards &finally he was appointed as Borphukan by the king.Then onwards,he was known as Lachit Borphukan.Borphukan used to be top councillor in Ahom Kingdom. This position was embedded with executive & judicial powers.


Assam was facing incessant Islamic invasion since Jan1662, when Mughal General Mir Jumla II attacked Ahom capital Gargaon. He never defeated Ahom king Jayadhwaja Singha as king retreated to hill &continued Guerrilla warfare.Prolonged fight &prospect of stalemate disturbed Jumla.
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