1/ In any fast growing organization – one of the best feelings as a manager or CEO is having someone who works for you that I call “Safe Hands.”
2/ It’s this implicit sense that you can delegate a task, project, or line of business and trust that the person is going to execute with quality.
3/ “Safe Hands” isn’t just about competence – it’s about proactively communicating when issues arise, acting as an owner when problem solving, and operating independently (without the need for micromanagement).
4/ Importantly, “Safe Hands” isn’t tied to seniority. And it’s remarkable how inconsistent it is across an organization...
5/ Whenever I found someone who was “Safe Hands” at my prior company (especially junior folks) – I’d pour responsibility on them. Many of these individuals stretched far beyond their original roles and became leaders at the company (with several now successful entrepreneurs).
6/ It’s one of the most common conversations I have with the founders I work with. Especially in the Series B+ stage as they’re beginning to bring on executive leadership for the first time.
7/ Do you feel like you have “Safe Hands” across every functional unit of the business? How much leverage do you feel like you’re getting from your team in those areas?
8/ Every CEO instinctively knows the answer to these questions (and finding your “Safe Hands” is a key step towards scaling yourself and the company)!
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1/ Millions of small businesses, from law firms to medical practices, still spend hours manually processing unstructured data—faxes, emails, PDFs—to enter into industry-specific systems of record.
We call this the "messy inbox problem" and AI is stepping in to fix it. A 🧵:
2/ Replacing this historically judgment-intensive work with LLMs is quickly becoming one of the most effective wedge strategies when building AI-native applications. Why is that the case?
3/ This “messy inbox problem” typically sits at the top of the funnel for most white-collar work. By being able to replace human labor with LLMs, you’re effectively stepping in front of any existing downstream software systems.
1/ Excited to share our latest @a16z piece on the biggest prize yet to be claimed at the intersection of Healthcare x Fintech!
2/ Most healthcare providers are flying blind when it comes to their finances. Once a provider treats a patient - many don't know how much they'll be paid, when they'll get paid, and if that payment is more or less than they're owed... this is true for providers large and small
3/ Ultimately, this issue stems from a complicated flow of funds and the lack of healthcare-specific software that bridges the medical records (EHR) + revenue cycle (RCM). We see a massive opportunity to fix this gap and build a Financial Operating System for Healthcare.
1) A new generation of private market exchanges will bootstrap liquidity through software. I expand upon this thesis "Come for the Tool, Stay for the Exchange" in a new essay that just dropped on @future. future.a16z.com/liquidity-priv…
2) We've seen dramatic growth in private market assets (up over 10X to $6T) in the last 20 years. This has been driven by low interest rates, companies staying private longer, the need for diversification post GFC, and a general outperformance of private assets vs. public markets
3) But while institutions have shifted their investments towards the private markets, retail investors have been largely left behind. The number of public companies have shrunk and much of the appreciation in the private markets have happened outside of retail portfolios.
The most common issue with "innovation" at big companies is the belief that anything new needs to address a very large TAM. 1/
This comes from recognition that for a new initiative to move the needle it ultimately needs to be able to achieve very significant ($1B+) revenue scale. 2/
This isn't wrong, but it often informs the wrong starting point and strategy. Typically, big companies will justify new initiatives by saying something like "if we can get just 1% of the [insert massive global market] we can generate $1B+ in revenue." 3/
I am thrilled to share that I am joining @a16z as a General Partner based here in NYC!
It’s been over a decade since @pmarca coined his famous phrase - “Software is Eating the World” and this couldn’t be more true in financial services.
Having spent the past 10+ years in fintech as an investor, entrepreneur and operator -- I’m incredibly bullish on the future of NYC as a center of fintech innovation and talent and I’m thrilled to have the opportunity to help @a16z expand our presence in the city.
Schwartzman's three tests for starting a business:
1)"It’s as hard to start and run a small business as it is to start a big one... If you’re going to dedicate your life to a business, which is the only way it will ever work, you should choose one with the potential to be huge.”
2) "Second, it should be unique. When people see what you are offering, they should say to themselves, “My gosh, I need this. I’ve been waiting for this. This really appeals to me.” Without that “aha!” you are wasting your time."
3) "Third, your timing must be right. The world actually doesn’t like pioneers, so if you are too early, your risk of failure is high. The market you are targeting should be lifting off with enough momentum to help make you successful."