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Adam Jacob Profile picture
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15 May, 4 tweets, 1 min read
My friends - sell that shit. If you have a significant amount of your wealth in crypto, but not similar amounts in dollars - get thee to the dollar, and hurry up. Maybe it doesn’t implode today, maybe not tomorrow - but it’s going to implode.
And when it does, I promise you, the large holders of Bitcoin are not going to be the ones who suffer. You are. You do not want to be the small fish in a collapsing market.
And you’re the small fish. If you roll your eyes and ignore me, that’s okay - just make sure every other part of your life is set, and gamble away with your bad self. But it better be set in other assets, because the smoke is getting hard to ignore.
Maybe there is some real upside to crypto currency. But it’s not going the way you hope. If there aren’t dollars for it, it’s *meaningless*, and when the run for dollars come - guess who gets paid first? Hint: not you.

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More from @adamhjk

Adam Jacob Profile picture
13 May
If you think Bitcoin is for the little guys - check out the grift Elon musk just pulled off in plain view. He gives a fuck about the environmental impact - he cares about the stock taking a hit when index funds rebalance. And he unwound that Bitcoin position first.
All y’all get to hold the bag, though. Because he can move markets, and y’all can’t. No amount of decentralized block chain chicanery is going to change that truth. Have a lot of money? Easier to make a lot of money.
Oh, and while you’re all saying it’s a stable store of wealth, akin to gold: can you imagine if he announced he would take payment in gold, pumped the price of gold, and then dumped it? You cannot. Because it’s not a stable store of wealth yet by any stretch.
Read 6 tweets
Adam Jacob Profile picture
13 May
I have a mild obsession happening with how well written a song Snow Patrol's "Run" really is. I love that it started when he was blind drunk, fell down a flight of stairs, and then what came out was "Run".
That the song becomes about yourself, in addition to your loved ones, it just layers on the grace and redemption required to love yourself. And to love anyone else.
Stick that with what is a pretty simple guitar arrangement, and you wind up with this simple but devastatingly effective song. If I sing it twice in a row it's hard not to get choked up.
Read 4 tweets
Adam Jacob Profile picture
12 May
I think it’s clear that ethically licensed software *won’t* be As Big As They Can Be - by design. I suspect they can still find pretty widespread use and safe adoption.
The ml5 code of conduct (github.com/ml5js/Code-of-…) has clauses in it that feel not very different from any SaaS terms of service. They perhaps cover more explicitly, but most (not all) terms of service or proprietary contracts can terminate for convenience.
If I’m a business looking to use ml5.js - I would have real questions about wether that’s a good fit. Not because of fear of running afoul of their ethics clauses (easy enough to avoid) - but more because they clearly say it’s for teaching, creativity, and social good.
Read 8 tweets
Adam Jacob Profile picture
1 May
Let’s talk about Mike Kail being convicted. Full disclosure, I’ve met Mike a handful of times socially - he was definitely in the same infrastructure and venture scene. We have lots of connections. My recollection is he was nice and eager to be helpful. justice.gov/usao-ndca/pr/f…
In that scene (executive/founder/venture) it is very common to be introduced to other founders or executives, for the specific purpose of giving advice and aid. I try and do this as often as humanly possible - I never say no (sometimes it’s a “not this week”, but never “no”)
Sometimes you do that and everyone clicks - your advice is helpful, the team likes you. At that point it’s common to offer an advisory role - that usually comes with a small stock grant. I always turn these down. For three reasons.
Read 19 tweets
Adam Jacob Profile picture
29 Apr
Another management lesson here. We often talk about how VC Board Members behave badly. Sometimes board members do. But one reason you really want a board is for times like this.
Boards serve a number of purposes - management accountability and financial oversight are the big ones. A lot of early startups don’t have boards, and Basecamp probably doesn’t (it’s an LLC). It’s a mistake in both cases.
When you’re the CEO or co-founder, you’ve got a responsibility to the business, to your employees. If you’re doing it right, it’s frequently lonely and nerve wracking. You’re solving problems other people can’t or won’t most of the time. (Otherwise they wouldn’t be your problems)
Read 14 tweets
Adam Jacob Profile picture
28 Apr
if you’re a leader, and you aren’t analyzing how you would act, and why, in the situation at basecamp, you’re missing a golden opportunity. Every step offers a gold mine of introspection.
How not to roll out policy changes? Check. Why you never bundle things together? Check. Public airing of dirty laundry? Check.
I like to believe I would’ve killed the names list the moment I saw it. In 2009 it wouldn’t have been because I thought it was racist (tho I see that it is now), but because you cannot have disdain for the people you serve.
Read 12 tweets

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