What actual activities do you want to do?
- Deep market analysis?
- Be in the flow of information and people?
- Make deals?
- Work closely w/ founders over time (e.g take board seats?)
- Manage capital?
- Benchmark (Lead series A/B - couple investments a year)
- First Round (Lead seed rounds, partner w/ a few companies a year)
- SV Angel (Make lots of seed investments)
Expa - Incubate companies
YC / Village Global - Build a platform to help entrepreneurs at scale
Do you want to join a firm or start one? There’s a lot to consider.
Different paths will require different skillsets & sets of experiences.
“Is this person going to help me to invest in companies that I otherwise would not have invested in without him/her?”
How do you do this?
Why will you see great deals?
- You worked at Stripe or Palantir and run their alumni group (Company)
- You went to MIT and ran their on campus fund (College)
- You ran Waterloo’s startup community and you know all the great projects (Location)
- You host the signature AR/VR conference (Vertical network)
- You run a community like "Interact"—top technologists under 25 (Horizontal network)
- You’re the best writer in, say, crypto—or more specifically, privacy coins (Legible expertise)
- You worked at Product Hunt or in journalism (can help startups with distribution/PR)
- You host "The 20 min VC" (can help startups raise money)
- You run a podcast called "The 20 min Blockchain Engineer" (can help startups recruit)
Here are other things you can do to add value to VC firms:
1. Send them good deals
2. Send their companies customers or talent
3. Invite partners on your podcast or to your event (or any of the assets mentioned above)
How do you get access to customers in the first place? Host a VP of Sales Event once a quarter, or an event for another core buying audience.
Talent? Start a job board site for engineers, or a regular happy hour for top designers.
More from Erik Torenberg
Please add your own.
2/ The Magic Question: "What would need to be true for you
3/ On evaluating where someone’s head is at regarding a topic they are being wishy-washy about or delaying.
“Gun to the head—what would you decide now?”
“Fast forward 6 months after your sabbatical--how would you decide: what criteria is most important to you?”
4/ Other Q’s re: decisions:
“Putting aside a list of pros/cons, what’s the *one* reason you’re doing this?” “Why is that the most important reason?”
“What’s end-game here?”
“What does success look like in a world where you pick that path?”
5/ When listening, after empathizing, and wanting to help them make their own decisions without imposing your world view:
“What would the best version of yourself do”?
Like company moats, your personal moat should be a competitive advantage that is not only durable—it should also compound over time.
Characteristics of a personal moat below:
I'm increasingly interested in the idea of "personal moats" in the context of careers.— Erik Torenberg (@eriktorenberg) November 22, 2018
Moats should be:
- Hard to learn and hard to do (but perhaps easier for you)
- Skills that are rare and valuable
- Compounding over time
- Unique to your own talents & interests https://t.co/bB3k1YcH5b
2/ Like a company moat, you want to build career capital while you sleep.
As Andrew Chen noted:
People talk about \u201cpassive income\u201d a lot but not about \u201cpassive social capital\u201d or \u201cpassive networking\u201d or \u201cpassive knowledge gaining\u201d but that\u2019s what you can architect if you have a thing and it grows over time without intensive constant effort to sustain it— Andrew Chen (@andrewchen) November 22, 2018
3/ You don’t want to build a competitive advantage that is fleeting or that will get commoditized
Things that might get commoditized over time (some longer than
Things that look like moats but likely aren\u2019t or may fade:— Erik Torenberg (@eriktorenberg) November 22, 2018
- Proprietary networks
- Being something other than one of the best at any tournament style-game
- Many "awards"
- Twitter followers or general reach without "respect"
- Anything that depends on information asymmetry https://t.co/abjxesVIh9
4/ Before the arrival of recorded music, what used to be scarce was the actual music itself — required an in-person artist.
After recorded music, the music itself became abundant and what became scarce was curation, distribution, and self space.
5/ Similarly, in careers, what used to be (more) scarce were things like ideas, money, and exclusive relationships.
In the internet economy, what has become scarce are things like specific knowledge, rare & valuable skills, and great reputations.
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This limitation, which is still found in the very latest Windows 10, dates back to BEFORE STAR WARS. This bug is as old as Watergate.
When this was developed, nothing had UPC codes yet because they'd just been invented.
Back when this mistake was made, There was only one Phone Company, because they hadn't been broken up yet. Ted Bundy was still on the loose. Babe Ruth's home run record was about to fall.
When this bug was developed, Wheel of Fortune hadn't yet aired. No one had seen Rocky Horror. Steven Spielberg was still a little-known directory of TV films and one box-office disappointment. SNL hadn't aired yet. The Edmund Fitzgerald was still hauling iron ore.
WHEN THIS STUPID MISFEATURE WAS INVENTED, THE GODFATHER PART II HAD JUST OPENED IN THEATERS.
So, why does this happen? So Unix (which was only 5 years old at this point) had the good idea of "everything is a file" which mean you could do things like write to sockets, pipes, the console, etc with the same commands and instructions.
Some random interesting tidbits:
1) Zuck approves shutting down platform API access for Twitter's when Vine is released #competition
2) Facebook engineered ways to access user's call history w/o alerting users:
Team considered access to call history considered 'high PR risk' but 'growth team will charge ahead'. @Facebook created upgrade path to access data w/o subjecting users to Android permissions dialogue.
3) The above also confirms @kashhill and other's suspicion that call history was used to improve PYMK (People You May Know) suggestions and newsfeed rankings.
4) Docs also shed more light into @dseetharaman's story on @Facebook monitoring users' @Onavo VPN activity to determine what competitors to mimic or acquire in 2013.
These are turn-based wargames for windows 3.x, sharing the same engine.
Battles in a Distant Desert is from 1992, and is based on the first Iraq war (Desert Storm)
and Battles on Distant Planets is from 1991, and takes place in SPACE!
I'm pretty sure this is the one I played as a kid.
They've got 3 options to play with:
* Player vs. Player
* Player vs. Computer
* Computer vs. Computer
So it's a 0-2 player game!
They also did a DOS strategy game called "STARDATE 2140.2: GALACTIC CONQUEST" in 1990, but it seems to be lost.
All the games share an experimental AI system based on neural networks.