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31 Dec 20, 25 tweets, 11 min read
"If [college] teaches people to be productive citizens of society, On Deck is helping them become productive citizens of the internet"
— @eriktorenberg on the @NFX podcast.

What does this mean?

Why does it matter?

A quick thread exploring the @beondeck mission/vision:

👇👇
First, let's wind back the clock ⏪⏱

Back in the 90's and early 2000's, capital and credentials were bottlenecks to starting a technology company.

Anyone can start up... so long as you can get an MBA and $10M from Sand Hill Road.
In the mid 2000s, that all changed.

With the rise of AWS & open source software, the cost to spin up new software products plummeted.

Now, anyone can start up... so long as you can code.

Engineering skills became the new scarcity.

Enter YC:

Today, it's never been easier to start up.

Knowledge & content are ubiquitous. No-code tools and dev infrastructure are powerful. Sprawling social networks help you discover and serve niche audiences.

Anyone can start a tech co, anywhere in the world.
But if it's so easy, why is a lot of great talent still sitting on the sidelines? Why aren't more people building online?

The scarcity has shifted, again.

Community is the new scarcity.

Building as part of a strong community helps you lift above the noise: hire the right people, solve the right problems.

It's easier to "build something people want" when you have a network of well-connected, committed early adopters for feedback.

Those "sprawling social networks" allow unprecedented access to global audiences, but are becoming a steadily more expensive, extractive acquisition channel.

@chamath says 40% of all VC dollars now go to FANG advertising spend.

Community is the new moat.
Image
Founders used to have to give up substantial equity to access this resource.

@beondeck is proud to be expanding access, and unbundling community from the "accelerator" model of VC.

Less obvious, but just as important is online education.

Edtech 1.0; MOOCs failed to live up to the hype.

These programs missed something critical to the learning process: the relationships, respect and perspective of *who you learn with*

On Deck "re-bundles" community with learning.

Education at On Deck = accumulating, peer to peer knowledge transfer, facilitated through structured events, product, and resources.

Those who give the most, get the most value.

So, community helps people become better citizens of the internet. Is that the take-away?

Let's go deeper ⬇️🐇🕳
The internet is a technological revolution, which is entering what @CarlotaPrzPerez calls its "deployment phase".

h/t @ganeumann for the excellent blog, and @tylertringas for putting it on my radar:

reactionwheel.net/2015/10/the-de…
"The past ~250 years have seen four such great technological revolutions and the first half of a fifth".

Each is characterized by a critical factor of production suddenly becoming very cheap; new infrastructure being built; and widespread gains in productivity from the new tech. Image
In the “deployment phase”, what was new is now the “new normal”

Technology infiltrates every aspect of the economy, but becomes invisible.

➡️ Software eats the world, and everybody stops noticing it.

Where do you go, to learn to thrive in this world? Probably not college.
The top U.S. colleges were all founded 200+ years ago, established to train citizens to be productive members of industrial-era society.

Coasting on institutional momentum and credentialism — most have long since detached from reality.

Worse, most were in big trouble before the pandemic — with declining enrolment, heavy student debt, and a misaligned value proposition for many learners.

COVID accelerated this decline.

H/t @tylercowen, @Noahpinion with an excellent summary:

bloomberg.com/opinion/articl…
Meanwhile, the half-life of a professional skill has fallen to 5 years.

The only constant throughout your career will be *change*

Today, most people finish school at 18 - 22, and never go back. Does that make sense?

Image
@ByrneHobart says accelerators like YC are already quasi-education institutions. I agree with a lot of this.

But VC is ultimately a feature of the past "installation" cycle. Many will continue to create immense value, but their best years are behind them.
medium.com/swlh/y-combina…
If you follow the "innovation S-Curve" theory to its conclusion, the opportunity for becomes obvious.

On Deck is building a modern education institution — a lifelong learning community for "citizens of the internet".

An "OS for ambition". Image
Here's the podcast from the first tweet, worth a listen if you're interested in learning more! s/o @JamesCurrier for hosting Erik.

nfx.com/post/erik-tore…
If this vision resonates — come help us build it! We're hiring. *Future founders wanted.* My DM's are open.

Want to learn more about On Deck?

👉Here's a thread of all our communities & programs:

👉 Here's what we've been up to over the past 12 months

👉 Here's what our Fellows/community members say about their experience: beondeck.com/wall-of-love Image
👉 Here's where you can learn more and apply to join a program: beondeck.com/apply

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More from @david__booth

David Booth Profile picture
2 Jan
"Async" Slack channels are one of our secret weapons at @beondeck

After using them for ~18 months, I can't imagine Slack without them. Particularly now— operating 100% remote with 62 teammates in 14 timezones.

Here's the "how it works" post I use to open each new 1:1 channel 👇
Welcome to our private "async" channel!! 👋👋

Here's how it works —>
Anytime you need a quick response, e.g. "are you coming to this meeting?", use DM.

A Slack DM is like a tap on the shoulder. It says "I need your attention now, please stop what you are doing." Use these sparingly.
Read 11 tweets
David Booth Profile picture
4 Oct 20
Consider the cost of joining a paid community vs. the "cost" of a free one.

If you're a founder, writer, engineer, angel, etc; time/attention is your scarcest asset.

The more you value your time, the more you should spend on things that give you leverage on it.

Simple, right?
Tech/startup communities are traditionally VERY under-resourced; "tacked on" to a VC strategy, or reliant on sponsors and volunteers.

Imagine if this weren't the case.

Imagine if:

• They could hire amazing people, pay them well to create/curate incredible experiences.
• members were their customers. No "selling out" to external interests (spoiler: a VC's "customer" is their LP; founders are the product).

• participants had skin in the game, were "bought in" to get the most from their investment. See: better engagement, behavior, outcomes.
Read 13 tweets
David Booth Profile picture
28 Jun 20
We aspire for @beondeck (the *company*) to be somewhere the most ambitious future founders want to work

We’re looking to hire at least four of them in the next few months.

Is this you? Here’s a thread👇

2/ On Deck is building a modern university.

We want to 10x the number of founders building world changing companies.

We're starting by helping cohorts of talented, ambitious people refresh their networks and skills and navigate "what's next" via ODF

3/ ODF = an intensive 10-week program bringing together a community of experienced engineers, designers, operators, and repeat founders. Includes extensive expert-led curriculum, co-founder dating, and more.

Cohort #4 is underway, and it's our best yet!

Read 9 tweets
David Booth Profile picture
22 May 20
We've had questions like:

"I may not be starting a startup just yet — i'm taking some time out to explore, advise, angel invest, and think about what I want to do next. Is @beondeck for me?"

Answer: yes!

👇
We use “on deck” as a verb to describe the state of being between things or thinking of moving on — being "open to opportunity."

To be clear: most in ODF are/are planning to be founders.

But tenured "explorers" contribute immensely to the community, and get a lot of value too.
While this group have been *incredibly* generous with their time, it's not all about "giving"

Joining On Deck is a powerful way to refresh your network, get inspired and boost your entrepreneurial energy, learn some new skills or test some ideas.

Read 9 tweets
David Booth Profile picture
21 May 20
We think a lot about how to "unlock" talent at @beondeck.

For everyone founding or working on a startup today, there are hundreds more who should be but can't.

We're developing something we hope will help them.

Excited to share more about "Runway" and the "Convertible ISA"

👇
10k+ people applied to On Deck in the past few years.

Many could be great founders but don't have the personal runway to leave their job and go full time.

Some have to fundraise prematurely.

Others hack "on the side" for years, or never start at all.

Still others come into the Fellowship intending to work on their own idea, but end up hopping aboard another rocketship as founding team/early hires.

We love when this happens. This "fluidity" of opportunity is what makes the Fellowship so powerful.

Read 11 tweets
David Booth Profile picture
1 May 20
Founders: what are your plans for hiring interns/apprentice roles this summer?

@beondeck is seeing a LOT of inbound from incredible young talent.

Mostly too junior for the Fellowship, so we're considering something new:

If ODF were grad school, this = "undergrad"

More 🤔👇
2/ What could On Deck "summer school" look like? maybe:

— 1 month learning "startup skills", building community, project based collaboration, access to On Deck knowledge base (~200 hours of recorded workshops), mentorship;

— 2+ months of work experience with top startups;
3/ Questions for founders/startups:

• What stage are you? seed/series A/B?

• What skills/roles do you need — mostly engineering? design? operators?

• Does this still work if everyone is 100% remote?
Read 4 tweets

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