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27 Aug, 11 tweets, 4 min read
The @beondeck flywheels, Aug '21 edition: Image
1/ top talent comes to On Deck to explore starting a company.

Many do.

2/ as they do: unique, insider jobs are shared with #OD50, pitched at “Talent Demo Day”, listed in the On Deck “talent hub”…

Collectively, this is now the “Transitions” org.

3/ As “Transitions” gains momentum, it helps Startups hire better, build faster.

Better startups mean more/better dealflow for participants in ODA, ODVC (returning soon 👀), more volume through "Fundraising Network"

Collectively, the "Capital" org.

4/ More/better dealflow = more $$ flowing into the community.

More $$
= more competition for allocations
= more active investors trying to be helpful, investing time, experience, FOMO'ing prices up.
= reduced cost of capital for founders.

Then, it starts to get interesting...
5/ 600+ companies founded at/after On Deck have now raised $500M+

They're out there scaling, building teams: engineers, product managers, designers, marketers… placing execs: CTO, CPO, CMO…

6/ Careers are a continuous journey. Learning and growing alone can be tough.

Savvy founders invest in developing their careers, skills, and networks:
7/ Many Fellowship, exec Forum members & established founders also get involved in the community as angel investors, advisors—mentoring the next generation, and helping develop/deliver peer to peer education "modules"

The spirit of service is strong!

8/ With average tenure around 1.5-3 years, employees & executives will eventually be "on deck" themselves

transition something new --> transitions
start something new/advise --> startups

🔄

btw i suppose this could be considered an "update" to the #flywheels we posted in Jan here.. or maybe it's a more "meta" version.

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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
31 Dec 20
"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:

Read 25 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

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