reference checks are a great idea when hiring and this is a great set of questions.
The world’s most deadly fluff is: “I would definitely buy that.” It just sounds so concrete. As a founder, you desperately want to believe it’s money in the bank. But folks are wildly optimistic about what they would do in the future. They’re always more positive, excited, and willing to pay in the imagined future than they are once it arrives
Product-oriented marketplaces (e.g. EBAY, TDUP*, Faire*) primarily match supply and demand in goods and then enable the payment for and fulfillment of those goods. The way these marketplaces achieve leverage is by driving the cost of the transaction down.
High differentiation, low durability. There’s a lot of fashion, luxury, travel and entertainment brands and the entire genre of DTC brands that are very much talked about for a moment, only to fade into obscurity/low consumer preference once the negative effects of their fractured internal cultures, lack of new funding/revenue, lack of brand-buildi... See more
Consumer investors can now get access to professional-quality data through tools like Atom Finance and TIKR, which offer lightweight Bloomberg Terminal functionality at a fraction of the cost.
"Marriage was an economic institution in which you were given a partnership for life in terms of children and social status and succession and companionship. But now we want our partner to still give us all these things, but in addition I want you to be my best friend and my trusted confidant and my passionate lover to boot, and we live twice as lo... See more
The tech story maps quite predictably to philanthropic efforts in previous decades, which is to say that it has a higher likelihood for success: it’s a pattern that people understand better. The crypto story is radically different, requiring us to reimagine what it means to fund and develop public goods from an entirely new set of assumptions. It i... See more