Austen Allred Profile picture
Nov 23 5 tweets 2 min read
Business Insider openly admitting that they don’t care (or check) whether what they’re publishing is true or not because they said “reportedly” in the headline ImageImage
News organization in which SBF is a major shareholder claims that SBF owns $100 million of Twitter.

Owner of Twitter says this isn’t true.

Headline: “SBF is reportedly a shareholder in Twitter.”

Zero attempt to actually determine what is accurate.
The Verge did 100% the same thing to us.

A student told them we plagiarized our curriculum from Medium.

Turns out someone had stolen and republished our curriculum on Medium.

We showed that clearly, with time stamps.

What was published? “Students claim curriculum was stolen.”
Here’s a screenshot of the fact-check document where we clearly showed that what had happened.

Then what was published.

Note the “seemed to” used to publish something the journalist knew was 100% false.

Then a quote that doubles down on the lie to make it seem more egregious. ImageImage
Even more fun:

The Verge went through our #mentalhealth Slack channel, contacted every student who had ever mentioned suicidal ideation, noted *could* mention that with names in their report, but implied they could provide anonymity if they’d speak out against us.

Journalism!

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More from @Austen

Nov 20
How headcount explodes in a startup:

You do a critical task. It takes 1/8 of your time, and is easy and cheap to hire for. So you hire someone to do the task.

That person does that task well. Great hire!
In fact that person is so smart and resourceful that they start doing two other tasks that, while not critical, are great. What an awesome hire!

Add those two great things to the list of things we do!
Except unknowingly, you just went from one task that takes 1/8 of a person’s time to three tasks that are a full-time job plus 1/8 of a person to manage them.

And you can’t eliminate that role, that person does three important tasks!

Now compound.
Read 4 tweets
Nov 17
Someone referenced the notion that you can't work productively for more than 5 hours/day, and I realized I had always heard that but had no idea what the notion came from.

Googling around you find and endless number of sites linking to each other, but eventually found the study.
Stanford researchers measured hours worked vs. productivity in a bunch of easily measurable (generally manual labor) jobs.

Easy to measure hours worked vs. amount of output.

I was surprised to see the results were... pretty much linear?
They take a bunch of other swipes at the data, but the "research" that everyone references seems to stem from this: a least-squared estimate in which hours are expressed as a quadratic.
Read 6 tweets
Nov 10
bullish
“Twitter doesn’t have a comms department? 😱”

The CEO already sent a <280 character message directly to 115 million people multiple times today.

There’s your comms department.
“But they need to ask for comment”

They would have sent an email to full inbox and published with no response two minutes later anyways.

At least this spares us the charade.
Read 4 tweets
Nov 1
IMO what Twitter should actually do:

Blue check for $8/month that means you're a real/legit person (ID verified). Get a bit of priority in search/replies and some premium features.

VIP "Gold check" that is free if you're a celebrity or expensive ($1k/month) if you're not.
I think most people underestimate how much value Twitter can bring to power users.

I don't even want to think about how much I would actually pay for it if I were paying for 100% of the value it provides.
Why make a gold check free for celebrities?

Because if you just charge $1k/mo for something it shows who is hungry enough for status to pay for it. Looks desperate.

You have to give it for free everybody who is "legit" in order for it to truly convey status.
Read 6 tweets
Aug 10
Some of the most frustrating times to me as a founder were budgeting, goal setting, and headcount planning, because incentives shift.

By default people ask for maximum team size, set “goals” they’ll hit automatically, and you end up planning for failure.

What I’ve seen work:
1. First, actually optimize for *net income,* (profit), not just revenue.

Yes, some VCs/analysts don’t consider the bulk of your team “COGS,” say you have 99% gross margin, and focus 100% on revenue.

But operationally that’s a fantasy.

You have to care about revenue - cost.
2. Start with long-term vision for each team, *then* goal setting (including hard monthly numbers teams sign up for), *then* assign budget/headcount to hit those.

Marrying these processes means you get resources according to the value you’ll create, not how hard you fight.
Read 10 tweets
Jul 24
Did a bunch of reading about this over this past week.

Turns out most gamblers aren’t mismanaging risk. They don’t really care at all whether they’re winning or losing.

Playing slots is addictive because it lets you escape distraction and enter an almost flow-like state.
People described slots as “entertainment” but that doesn’t really do it justice.

And the psychological phenomenon isn’t waiting for the high when you win.

In fact some prefer to lose - it gives them a bigger rush.
In fact, whether one wins or loses is less relevant than *how many chances they have to do so.*

Slots don’t make you wait, every few seconds you get another mini rush.
Read 6 tweets

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