on becoming "legible to capital": the most underrated factor in the success of firms is the degree to which they are legible to Capital. defining this precisely is hard ("you know it when you see it"): but an idea, a firm, or a person is legible to Capital (cap-C) when by dint of their... See more

In case you missed it last week, I wrote an essay wondering aloud hard questions about product market fit and perhaps more importantly, business model product fit. This essay has been somewhat disingenuously cast as a “cliché”d critique of gross margins and a general pessimistic view. This couldn’t be further from the... See more