Elizabeth Yin 💛 Profile picture
Jan 23, 2022 19 tweets 4 min read Read on X
After thinking about this for a few days, I’ll wade into this one - as a mom and entrepreneur, I think this is a great idea and this would be life changing for so many people.

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1) The #1 argument I’ve heard against this is that it hasn’t been done so it wouldn’t be safe now. But so many things we attempt also haven’t been done.

Fun fact - do you know how the baby incubator came about in the first place?
2) if you’re not familiar with the history of the baby incubator (and I mean - let’s be real who would be?), I highly recommend watching this episode:

history.com/.amp/news/baby…
3) The tl;dr is that baby incubators were originally invented to keep animals alive but no “real” medical professional thought it could be used in a hospital for ppl. Too much risk right?
4) Until a guy thought it would be great entertainment to bring these incubators into Luna Park, a Coney Island competitor, to attract more crowds. They needed a differentiator.

Crazy freak show type of stuff.
5) Turns out, in the process, Luna Park saved so many babies! This may actually be amusement parks’ best impact on humanity.

(Although many ppl also died from riding early untested rides at amusement parks)

Just amazing - we have baby incubators because of freak shows.
6) As a parent, I’ve spent 2 stints in the NICU, and if you’ve never spent time in there, the medical professionals in there are doing near-God’s work. They can save babies who are less than half term and less than 1 lb developed. Crazy!
7) And while I don’t think anyone would say the NICU is ready to incubate a baby from start, this is not a terrible starting pt given no one is actively working on this womb problem (as far as I’m aware).

There are also immediate use cases.
8) There are a lot of women who simply can’t have a baby. Yes they can find a surrogate.

That is another interesting topic for another day - there are marketplaces for surrogates and you can pick literally what you want. (Even whether they are covid vaccinated or not)
9) But surrogates are expensive. Often hundreds of thousands of dollars all in.

So this is the initial driver for artificial wombs - ppl who want a baby but cannot have one and cannot afford surrogates.
10) But after that, it’s inevitable it would go mainstream. If someone asked me would I want an artificial womb to carry my children? If it were safe, definitely!

In fact, it could be even safer than an actual person or myself who could trip or fall or get an infection.
11) It’s analogous to a self driving car. Yeah you could drive the car, but if there were a better option - more convenient, safer, more reliable, why wouldn’t you?
12) Not to mention if you haven’t been pregnant before, it’s not fun. You may feel sick half the time. You have back problems. You can’t sleep. You’re fatigued. And when you have all this, the rest of your life deteriorates.
13) Then there’s the birthing process. It’s hard to believe for all the medicine we have, there’s a serious risk in dying during birth. The US has one of the highest maternal mortality risks. 24 in 100k women die from giving birth.
14) That may not sound like a lot but those are the survivors. I have 1 female friend who died giving birth. But I have *many* friends who had crazy complications and got close to dying but got lucky and didn’t.
15) After that, you may have postpartum depression. You’re bleeding & hurting in private areas. You still can’t sleep if you’re breast feeding. Lack of sleep for months makes you go crazy.

Lack of sleep is a torture mechanism we use on prisoners.

That’s what we do w new moms.
16) This is the pt of parental leave. To heal from lack of sleep & pain in your private areas.

It’s *not* for fun to hang out w the baby.

It is a lot more *fun* to go to work as a non-parent than to be on parental leave after your baby is born.
17) But if you want to be a parent in today’s era, this is the sacrifice that you make. Go through the grueling pregnancy and birthing process & risks, and then don’t sleep for the next few months and hope you’re employer gives you enough leave or you can make ends meet.
18) Having been through the process myself - twice, I can understand why no woman would sign up for this given the choice.

And wealthy women do get surrogates - for this reason.

Artificial wombs are going to be a thing.

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More from @dunkhippo33

Nov 5
Something is happening in pre-seed / seed that I think needs to be amplified more.

The gap between pre-seed and seed is getting large.

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1) First, big props to @michaelwma for illuminating this that I had noticed in my own portfolio but had not quite articulated yet.

2) In essence, what I'm seeing is this:

-Pre-seed rounds are getting done at low valuations.
-Hot pre-seed rounds are getting done all over the map
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But...
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Last yr, I personally paid more in taxes than what I made (!!).

I was completely shocked - I didn't think it was possible to *owe more* than you make. But it is.

To be clear, this post isn't meant to ask for pity, but I think it can help a lot of ppl out.

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1) First, every VC and many bootstrapped startups are advised to set up LLCs.

E.g. LLC for your funds. An LLC for your management co. An LLC really for any partnership. Etc.

We're told this is tax advantageous.

But like everything else, it depends...
2) So how is this possible?

First, how do LLCs work? My ELI5 explanation of an LLC is that when you make money, the taxes get passed through to the business owners -- the partners of that LLC.

So EVERY dollar that comes through is taxed to YOU as the business owner
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Mar 8
Today HR 2799, a legislative bill, has passed the House of Representatives in the US. This bill will have a huge impact on startups and emerging fund managers if it can become a bill.

Who cares and why is this important?

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1) But first, here’s the original source:

financialservices.house.gov/news/documents…
2) The backstory: VC funds are only allowed 99 accredited investors. This means that if you want to raise a $50m fund, your average check size from each of your investors must be over $500k.

$500k is doable (and small) for institutional investors — pension funds, endowments, etc
Read 12 tweets
Dec 6, 2023
Today’s tweet thread is about VC audits and how they affect startups.

I know…*such an interesting topic*…but actually it’s *extremely important* with the current market for founders.

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1) First, what is an VC audit?

Many VC firms hire a 3rd party auditor to analyze their funds annually. This gives their investors (LPs) confidence that fraud is not being committed, capital in the fund is being deployed into legit companies, and performance is not fabricated.
2) Auditors charge *tens of thousands of dollars* per yr to audit a fund.

As an aside, if anyone is thinking about creating a tech-enabled audit firm for microfunds, I’m extremely interested.

There are very few auditors for VC funds on the market.
Read 23 tweets
Sep 29, 2023
End of the week tweet thread on advisory shares in startups. Who should get them? How much? Why? And pitfalls

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1) First, why have an advisor?

Someone
-Has strong domain knowledge to help you level up?
-Can intro to key ppl?
-Can help with distribution?
-Can help with fundraising?
2) So to achieve this, loosely speaking, there are 2 categories of advisors who can be helpful to your company in these realms:

-"Famous" people (whose name will go far)
-"Hands on" advisors

But like in finding a co-founder, it's impt to make sure you're aligned with an advisor
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Jul 19, 2023
It's been about a year since the markets crashed for startups and VC funds. In the past year, it's been incredibly hard for both funds & startups to raise $$.

I'm no crystal ball, but here's what is happening from my standpoint & where I think the mkts are going.

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1) First, what am I seeing now?

For startups, there are basically 3 categories of companies who need to raise somewhat soon:

-doing great
-doing fine
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If you don't need to raise for another yr or more, then you're in good shape.
2) In the last category, this is where most cos are getting wiped out.

2021 prolonged the lifetime of startups that would've ordinarily died in a "normal" market. Companies w no product-market fit.

Many of these companies were given an extended lifeline with valuation markups.
Read 20 tweets

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