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~1.5 years into @earnestcapital. Re-thinking the idea of an early stage fund from top to bottom (still a work in progress) 👇
Mission: maximize the number of successful internet entrepreneurs in the world (not mostly failures and one big winner) earnestcapital.com/mission/
Investors/LPs: quarterly subscription approach to building a base of angels, entrepreneurs, and real people: earnestcapital.com/quarterly-subs…
Strategy:
Deployment Age of Software
Peace Dividend of the SaaS Wars
Early Stage Value Investing
Funding for Bootstrappers
earnestcapital.com/investment-mem…
Financing Structure: aligned outcomes with building profitable sustainable calm companies:
earnestcapital.com/shared-earning…
Mentorship: skin in the game. No personal brand builders or armchair quarterbacks
earnestcapital.com/mentorship/
Pitching: we give value first, let us learn about your company on your timeline not ours
earnestcapital.com/trailhead/
Dealflow: Transparency + Community

Radical transparency and collaboration with the bootstrapper community: earnestcapital.com/funding-for-bo…

Community of founders & shared resources
foundersummit.co
Tons more work to do, but feeling proud of progress in 18 months and with a small (now ~4 of us!) team
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More from @tylertringas see all

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Tyler Tringas
@tylertringas
The concept of “pre-seed VC funds” has been a devastating net negative for entrepreneurship as a whole primarily through misunderstanding (even tho I think the actual strategy has some merit in the game that it’s specifically playing)
Here’s what pre-seed is: 1/ there is a small class of founders that have such an accumulation of unfair advantages that it’s just *obvious* they will generate some amount of traction on an idea and be able to raise a seed round
2/ a mix of entrepreneurial investors + seed investors looking to build a dealflow advantage identified this and created a category for it.

If you’re thinking about SaaS for hotels + you own a boutique hotel + spent 10 years at Airbnb... you’re pre-seed material
Read 9 tweets
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Tyler Tringas
@tylertringas
Modern software founder MBA curriculum:
* Enough code to be dangerous + no-code prototyping
* Writing, Note system, GTD, project mgmt
* Founder-led Sales, Content/Email marketing
* Positioning, Pricing, Strategy
* Inbound recruiting (eg Twitter)
* Remote HR + Operations
My recommendations for a Modern MBA for Software Founders
(feel free to add yours) 👇
Enough code to be dangerous:
railstutorial.org/book by @mhartl
gorails.com by @excid3
founderhacker.com by @ryanckulp

No-code prototyping:
makerpad.co by @bentossell
nocodemvp.com by @bramk
Read 7 tweets
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Tyler Tringas
@tylertringas
A tiny thing that could do a lot of good for diversity of fund managers (if others join): for our next fund, I’m not committing to any level of “GP commit” and will do the work to explain to LPs why that’s okay. Let me explain
GP = General Partner = the folks who actually do the investing and get the upside of the fund. Is customary in funds like VC to require GPs to commit +/- 2% of the total fund themselves. Want to raise a $100m fund? ~$2m of your own cash is table stakes
Early stage investing is long-term illiquid asset class, putting millions into your own fund requires a $10m+ net worth *minimum* to make any sense. This is a HUGE barrier to aspiring managers who don’t come from wealth.
Read 8 tweets

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