1/12: It shouldn’t be a surprise that I love helping #startups. It’s what I do. But a little known fact is that my favorite show is American Ninja Warrior (@ninjawarrior). To me, building a #startup has parallels to ANW that great VCs and Founders should internalize. 🧵👇
2/12: It’s hard to deny that startups generate infectious energy. Founders have no political filters clouding their ideas. They have no higher-ups waiting around to smash their ideas. They don’t care about sacred cows and they don’t care if hundred-year-old brands are shattered.
3/12: What Founders care about is solving problems and being better than those that came before them. But while Founders believes that they’re destined to succeed, statistics would suggest otherwise. They’re most likely going to fail or stall somewhere on the way to greatness.
4/12: So as an Investor, where do I fit in? It’s simple: I’ve come to believe that I exist to help Founders climb Mount Midoriyama.

I assume I’ve probably confused most of you, but just humor me and all will be revealed.
5/12: Mount Midoriyama is a fantastically large steel structure at the end of the world’s most difficult obstacle course. The obstacle course originated in Japan under the name Sasuke, and over a three decade run, only four competitors have completed the course (one twice!).
6/12: Of course, the US had to create its own version of the show, and so was born American Ninja Warrior. The popularity of the show has been growing since it first aired in 2009 and thus far in American Ninja Warrior history, only three Americans have completed the course.
7/12: Contestants train year-round for what could be seconds on the course. A great year for a contestant might be conquering the obstacle that they fell on the previous year. Or it might be to just go out and “represent”. Success means different things to different Ninjas.
8/12: From this a Ninja Warrior community has emerged, and what’s fascinating is that they exist to help each other get better and to help each other succeed. They don’t see themselves in competition with each other, but rather they’re all in competition with Mount Midoriyama.
9/12: Dedicated Ninjas sacrifice just about everything in their lives to train for a course that will almost certainly get the better of them. Each individual knows that he or she is expected to fail but the best of them believe success is possible.
10/12: This is where I feel like I fit into the startup community. If I share a piece of advice that gives a Founder a better chance at success, I’m helping tackle Mount Midoriyama. If I can help a Founder think through a tricky decision, I’m helping tackle Mount Midoriyama.
11/12: And if I have the privilege of watching a Founder make it to the top of Mount Midoriyama, I can relish in the little things I did to help along the way. More importantly, any Founder’s success gives Founders of the future a reason to believe ultimate success is possible.
12/12: So this is why I see a Founder’s journey and a Ninja’s journey as the same. It’s a nearly (but not) impossible task to climb Mount Midoriyama. And there’s nothing that energizes me more than to do what I can to help Founders take on the challenge.

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More from @fintechjunkie

17 Jun
1/24: In the past few months I’ve spent dozens of hours mentoring and coaching Founders at the “pre-launch” stage of their #startups. Some are getting close to launch but most are still trying to figure out what they want to build.

Here are 5 take-aways: 🔥🧵👇
2/24: Takeaway 1: Know when to start building

It’s important to know when you’re ready to hire people and start building product. Action orientation is a great characteristic but sometimes the best next step is to do more research. Don’t underestimate the power of learning.
3/24: There’s no formula for knowing when it’s time to start hiring and building, but you should be able to describe a profound problem (problem statement) as well as one or more hypotheses on how a new business model could solve the problem (solution statement).
Read 24 tweets
14 Jun
1/17: We all know that Small Businesses are important to our communities. We also know that minority owned Small Businesses don’t have equal access to capital and tools. Is this solvable? Curious to hear about a company working on this challenge? Read on!
2/17: We’ve all heard the phrase that Small Businesses (SMEs) are considered the backbone of the U.S. economy. A quick look at the facts reveals that this statement is very much true. There are currently 31MM registered SMEs that employ about 135MM people in the country!
3/17: While it may seem like big companies hold all the power, it’s undeniable that SMEs play a critical role in their success. Smaller firms supply critical goods and services to big companies. They’re customers of big companies. And they’re catalysts for innovation and change.
Read 17 tweets
5 Jun
1/24: Yesterday @QEDinvestors announced our investment in @GetCapchase and we couldn’t be more excited. The space is white hot with big rounds being announced recently by @pipe and @clearbanc (among others). Curious why so much capital is flowing into the space? A thread: 👇
2/24: What if I told you that I had a business that miraculously transforms sums of money intro greater sums of money? You put money in one end and more money comes out the other end. Amazing! This is a gross simplification of what healthy businesses do over and over and over.
3/24: Every Founder paints a picture of a problem their business can solve and their vision is accompanied by a spreadsheet that lays out how a very attractive money machine will be created as a result. The spreadsheet is full of assumptions and early-on only loosely grounded.
Read 25 tweets
28 May
1/22: Building a successful #startup requires getting to “yes” every day. Unity of purpose paired with the right team and right incentives is a recipe for greatness. But sometimes getting to “yes” requires a #startup to conquer the “Impossible”. A 🧵👇
2/22: A key commonality of all successful startups is that they’re really good at solving problems that incumbents aren’t able or willing to solve. Most big companies have created environments where decision makers are incentivized to minimize risk vs. manage risk.
3/22: Paranoia around what MIGHT happen is everywhere. Fear drives decisions around how to test new value propositions, products and services. Employees aren’t rewarded for pushing the envelope but are punished if they go to far. The incentive structure is biased towards “no”.
Read 22 tweets
25 May
Twitter has been my relief valve for venting and sharing thoughts over the past year. In case you missed these, here are a few of my favorites: 🔥🧵🤯👇
Thread that describes an easy to digest framework for evaluating early stage investment opportunities:
Thread about back-to-back rounds and why they're problematic conceptually:
Read 19 tweets
21 May
1/17: When a #startup that I’m advising wants to raise money in the near future, I always ask them the question: “Are there any asterisks?” By this I mean, are there any counter-factual results that will have to be explained in diligence. This matters A LOT. A 🧵👇
2/17: Building a startup isn’t an overnight task. On day 1, a startup is an idea backed by some combination of research, intuition, experience and a huge number of assumptions. The goal of a Founder is to learn every day and adjust the business based on these learnings.
3/17: Every new learning is either proof that a startup is on the right path (positive proof) or proof that the market reality and the startup’s assumptions aren’t in sync (anti-proof). Positive proof always feels good. Anti-proof can hurt a little or a lot. It depends.
Read 17 tweets

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