Overjoyed to share I’m raising a $2m+ Rolling Fund for investing in startups.

I’ve got two partners, @drbillnye and @bowman, both great investors, friends, and sandwich eaters.

Rolling.fun @drbillnye @bowman This journey started 6 months ago with a conversation at @CapitalCamp (fitting!) with Al, who has also been investing most of his career too.

We shared a ton of values on founders we support and investors we want to be: long-term and founder-first!

A Deep Dive (pun extremely intended) to understand @SquidDAO was my mission this week.

It's like a crypto-native hedge fund, run by a group of anonymous volunteers (which could include you!) @SquidDAO "A friendly conspiracy for mutual enrichment."

Podcast Episode #022: @timhwang is the most interesting man on the internet.

In this hilarious 60-min episode:

- Trade Journals as industrial anthropology
- Bots to waging Information War on social media
- Going to Law School *Secretly*
- Legal Services for internet creators - Academic Journals studying Images of Mark Zuckerberg
- Tim’s book predicting a bubble in targeted digital advertising
- Authoring Conspiracy Theories

Very excited to see @TripleBlindAI raising another round and growing quickly.

This technology will truly change the world. Tripleblind enables private algorithms to run on private datasets (like medical records) and return valid results without ever moving or exposing the data or the algorithm.

Digital Scarcity in web3 🌐 3️⃣

Types of scarcity, applications, and how the world might change.

This keeps coming up in conversations trying to grok web3 and play out the scenarios, so I tried to flesh out digital scarcity here.

🧵 (with pictures!) Using Blockchains, computers can create scarcity in ways only humans have been able to do reliably before, but at the near-zero cost levels of other digital media.

@cdixon calls this "computers that can make commitments"

Cheap digital storage + GPT-3 means we may be the first generation to achieve a new level of immortality.

At least like a Hogwarts-portrait level of immortality. I relish the idea that making a podcast and blogging + AI tech will enable me to heckle my decedents from beyond the grave.

Episode 012: Mitchell Baldridge (@baldridgecpa) -- Defeating Taxes, Financial Planning, and Flipping A Bored Ape NFT for $250k

Anarchist, Libertarian, Crypto-Degen... Accountant and Financial Planner.

kite.link/jsoundbox12t Here's a sample of what we dig into in the episode:

- Crypto plays in the public markets
- Wealth-building and preservation strategies
- 101 resources to self-educate on financial planning and taxes
- How Mitchell built his business
- Differences of a partnership vs solo LLC

Podcast Episode 009: "TRACK ZACH #1" with @_zach_marshall, former Navy SEAL and founder of Conterra.

A new experiment -- quarterly check-ins with Zach as he builds his new startup, a marketplace for private security.

kite.link/jsoundbox9t First, we talk through Zach's unique background. Where he's from, why he joined the SEALs, and his training.

Then, his transition to civilian life, time in Silicon Valley, and how Zach built an incredible network and working experience in only 2-3 years.

Web1 = Costless Publication
Web2 = Costless Communication
Web3 = Costless Transactions (Drafting a full post on this idea)

Published a new post today, inspired by @CapitalCamp @AboveAvgOdds @mjmauboussin

"Accounting is Descriptivist"

ejorgenson.com/blog/accountin… "Descriptivists try to describe (“write down”). They believe people make the language to suit them, and linguists try to learn and understand how that language works."

Analogies are like sporks: useful, but imperfect.

They are a little clumsy, but way better than nothing.

Today, I use analogies to try to explain the possible future of Ethereum.

Clumsy... but hopefully better than nothing. Here's a link to the full post: ejorgenson.com/blog/future-of…

More jokes and nuance in the post, but here are key points:

Ethereum is used by developers to build and deploy apps. In this way, it is kind of like AWS.

In our post-show afterglow of the @sweatystartup episode of Jorgenson's Soundbox, @jmikolay and I break down Nick's Mountain of Levers, and how he grew from broke college kid to running a $100m Real Estate Portfolio. This uses frameworks, images, and ideas from our course, Building a Mountain of Leverage.

Learn more and subscribe at ejorgenson.com/leverage

[Art by @andrewcyu]

Ever thought about your Personal Value Capture?

I'm thinking about it as "Personal Proximity to Profits" and it's an interesting idea...

“Value Creation vs. Value Capture” at an individual level rather than a company level. This is more like Gross-Margin-compared-to-profit-personally-accrued.

For example, owning 100% of a small business is a much higher Proximity to Profits than owning shares of a public company.

Higher personal value capture.

Welcome to my new Podcast -- Jorgenson's Soundbox.

A mega-thread of threads that thread together every episode of my podcast, every guest, and insight.

If it pleases your ears... First, we (@scribemediaco + @consumersky) published a free version of the audiobook of the Almanack of Naval Ravikant.

https://twitter.com/EricJorgenson/status/1379462734169968647?s=20

Today, I can finally share a conversation I had months ago with @awilkinson about Leverage for the course.

kite.link/JSoundbox02t I've always loved Andrew's story -- an internet kid who started blogging and building at a young age...

As his agency became successful, he looked for more leverage by reinvesting cash, building new products, and hiring leaders, not just employees.

STOCK OPTIONS aren't what you think.

Some people have built wealth with stock options in startups, but it’s less than you think.

Stock options are limited in subtle ways. I didn’t understand early in my career, and many still overvalue options in their comp.

Here's why: [VESTING]

Options are earned over time, not immediately.

You get zero options until you work for a year, then get the first year all at once. If you quit/get fired < 12 months, no stock options for you. After the first year, you get a new chunk of options each month.

Recorded a very fun podcast yesterday with bootstrap hero and @ConvertKit founder @nathanbarry.

I've been following him for years as he grew from blogging to books, to courses, to building Convertkit into a $100m beast of a saas company. One thing I really admire is profit-sharing at his company, very much in the ethos of Nucor, Glenair, and more.

Ethereum 101 —

I’ve been exploring Ethereum (and buying, for full disclosure).

This is a plain-english recap of the very basics, to test my learning! (and maybe a frustrating oversimplification for the experts) Bitcoin was the first blockchain. Every blockchain has a cryptocurrency. Bitcoin’s cryptocurrency is named bitcoin. (Lowercase) or $BTC

L E V E R A G E — Thread #5: Product Leverage (been waiting for this one!)

#1 - Introducing Leverage
#2 - Tool Leverage
#3 - People Leverage
#4 - Capital Leverage

Levers are force multipliers people use to do 10x, 100x, or 1,000,000x what others can. Creating Products is leverage because it preserves your effort or judgment.

When your judgment is preserved, it can be used by people or machines to execute your judgment at scale, in parallel, well into the future.

My next big project is going to be an evergreen course about building Leverage.

Focus is application, decision-making, and small steps toward a big vision.

Much work to do, and many details to come in this thread. Basic landing page so far: ejorgenson.com/leverage Diving into this for two huge reasons:

1) The #1 question I get from readers of the @Navalmanack is "I know leverage is important but I don't know how to apply it."

2) My deepest curiosity and biggest struggle in the past year are about leverage -- doing more w/ time we have.

Love this from @fortelabs @ChrisWillx

(It's not always true, but it's true often enough, and counterintuitive enough that it's good to internalize this.) Returns to perfectism are high for permanent works. Books, sculptures, paintings. Perfection becomes legend, and lives for generations.