I got this whatsapp message yday👇🏽fm a founder grinding it out, 1 month of runway left. But absolutely unwilling to give up.
We saw 2 great stories recently fm the ecosystem - as Meesho, Cred became🦄. Congrats to them, & let us celebrate their achievements.

But let us also celebrate the founders grinding it out without much love. Life is hard for them. It is tough mentally & not easy to keep pushing.
It takes a special grit and determination to chug along, to motivate your team on dreams and vision alone without hikes, or even delayed salaries; holding on to them when other startups and Big Tech are throwing money at them.
This never say die spirit inspires me - i hv never been a founder - but i respect & identify with the spirit that founders embody.

Founders, their crazy ambitions, & their never say die spirit is what brings me to work everyday. And what excites me to work as hard as them.
To the unloved founders, to the founders who are scripting their stories silently, know that you aren’t alone. And that one day your moment will come. One day those stories will be told. And your journeys will be celebrated & will inspire a thousand more startups.


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More from @sajithpai

13 Mar

On my fave startup + tech podcasts:)

Barton Biggs, research guru turned hedge fund manager famously classified people into visiles & audiles (ref ‘Hedgehogging’).

Visiles absorb info via eyes (reading)
Audiles via ears (talking / listening)

(Youtube wasnt too popular then for it clearly breaks his split!)

Now I am a visile & I have struggled w podcasts:)

Podcasts are great content of course, & lots there you don't get easily in writing. But I have wondered as to why I should take out 40-50mins to listen to a podcast when in that time, I can instead breeze through 3-4 posts?

Read 18 tweets
2 Mar
Was interesting to read (yes, i got it transcribed) the @jeremysliew + @HarryStebbings chat on 20VC where they discuss the 2012 Lightspeed round into Snapchat that Jeremy led.

Link to transcript: notion.so/sajithpai/Podc…

Link to the investment memo: thetwentyminutevc.com/wp-content/upl…
What I found most interesting was this account of Jeremy Liew's persistence in trying to contact Evan Spiegel. VCs chasing founders who dont give them any bhav:)

Remember something like this for Sarah Cannon leading Index's recent round into Notion.
Liew's laws of consumer social investing!
- can this become part of pop culture?
- can this become a habit?
- is there a scalable, repeatable way to grow?
- does the founder have a unique insight that explains the success, that explains what's going on?
Read 6 tweets
28 Feb
Thinking aloud.🧵

Useful to see
- Bitcoin
- the sudden spurt in collectibles (StockX, GOAT, Artsy, RallyRd) including NFT + the entire financialisation of everything trend
- Gamestop + WSB
as decentralised coordinated accelerated creation of value.

Let us unpack this.
Value of anything incl currency, stocks has a broad subjective basis.

That said, to ensure that we dont start questioning the value of currency or what we are buying in every transaction, we base value in some centralised authority's diktat - state / central bank / market.
That means the gatekeeper / centralised authority (who also maintains the ledger) has a fair amount of power.

Historically transactions in stock market / art / currencies have all been intermediated or coordinated through a central authority (NSE / NYSE / Christies etc.)
Read 11 tweets
28 Feb
I thought this was an outstanding podcast - one every dev tools startup founder should listen to or read the transcript of. Brief 🧵 on what I found interesting.

Features @jeffiel of @twilio and @davidu + @smc90 of @a16z
.@jeffiel: AWS + APIs have given us the supply chain for building software.
Rule 1: Build the software that faces your customer.
Rule2: The act of building software is but the act of listening to your customer.
Read 10 tweets
26 Feb
New post + 🧵

This one is on product-market fit or PMF, that most discussed yet misunderstood concept!

Hitting PMF is about getting to 2 different fits
- the 1st is product to problem fit;
- & the 2nd is getting the go-to-market (GTM) to market fit.

1st fit: product / solution to problem fit - ensuring that you are able to create a product that solves some or most of the customer problem that spurred you to start up. This is the Minimum Viable Product or MVP as it is called.

(also ref to as the value hypothesis)
2nd fit: GTM to market fit, where you reach the ideal combo of customer segments, sales channels & customer acquisition approaches (collectively GTM) getting you to +ve contribution margin (i.e., revenue minus COGS minus direct mktg costs) for every new customer. This is PMF.
Read 8 tweets
20 Feb
A startup learns about itself in 3 ways. Or rather founders learn about their startup, & how well it is doing, or not, in one of 3 primary ways.
- customers / product iterations
- interviewees / hiring
- investors / fundraising

In that order.

Let us unpack this.
Customers / product iteration.

The best customer feedback is not by hearing them talk, but seeing how they interact with the product - buying it, or using it.
Learn from the feedback + reactions you get, & further iterate the product. And again go back to them with the product. The faster the pace of product iteration, the faster the learning cycles.

This is really what matters for learning from customers
Read 10 tweets

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