And having the powerful in the city, like Mike, stand up and take action is great. For too many years, the powerful class (especially in tech) has mostly been asleep at the switch of helping the city.
Oct 26, 2022 • 17 tweets • 4 min read
Realized: many VCs are now quiet quitting. ⤵️
Some of the last generation of VCs feel tired.
Their colleagues' codephrase is "no longer doing new deals."
Dec 13, 2021 • 24 tweets • 4 min read
The differences between New York and Silicon Valley business culture continue to astonish me, almost 15 years after moving to San Francisco.
I've seen the game in both places, and, to caricature a few differences, with as much truth as possible...
In New York, having a relationship means the person will look out for you — be loyal, even — and treat you the way they'd expect to be treated.
In Silicon Valley, having a relationship means the person will answer your email — and treat you the way they'd expect to be treated.
Sep 7, 2021 • 25 tweets • 5 min read
Thought experiment: let’s say you believe that tech companies, in general, do everything basically right. “Why are all these people in tech talking about ethics??”
Today's a day you can find out ⤵️
For the last couple of years, we’ve been hosting three Stanford professors teaching a class, for 300 people in tech, founders, execs, etc. on ethics -- and we now know why. You can read their new book -- out today -- and find out for yourself.
Why do founders often own so little of the companies they create?
It's often because of the incentives of their investors, pressing them to raise ever more money.
Consider a Tale of Two Startups, VC edition:
⤵️
Here's the riddle:
Company #1: A VC invests $1, and 10 years later, receives $1,000. Great investment!
Company #2: A VC invests $1 in an identical company, and 10 years later, receives $800. (Still great, if a lower return.)
Still, many VCs would prefer company #2. Why??
May 10, 2021 • 24 tweets • 7 min read
Been thinking about labor organizing, in tech etc., and what it means now.
TLDR: Many CEOs have been able to ignore the skill of working with organized labor for a long time. No more.
And labor organizations will have to get better at being a boon to a company’s performance. ⤵️
Why labor organizing matters: It’s hard to see a good way for working people to get better outcomes (like turning bad jobs into good ones) without organizing.
It’s also hard to see how we provoke people to be more engaged in elections without organizing.
May 7, 2021 • 4 tweets • 3 min read
Q: Which comes first, the angel pitch or the VC pitch?
On what I’m learning working on a get-out-the-vote project, as a tech person...
71 days ago, a friend and I who have already been active in work on this election were talking about what else we could do…
The season for fundraising is mostly over, and of course we’d phone bank and such…
Was there more?
Jan 29, 2020 • 8 tweets • 2 min read
I once believed, when I got screwed in a negotiation, it was because I was powerless. Small. Not important enough to be respected.
Then I learned from some powerful people that they feel screwed a lot, too! A respected angel said "one out of three deals."
On getting rolled⤵️
I myself get screwed now and again, and always try to speak up. (The first step is paying attention! most people miss it when others take from them.)
I then hold the line — until it would cause more harm than good. (When investing, "does it serve the founder" is my byphrase.)
Dec 9, 2019 • 7 tweets • 2 min read
The oxygen for getting a deal done is momentum.
Whether it's M&A, a legislative compromise, a sales deal, an investment, any transaction at all... the faster it goes the faster it goes.
Specifically:
Oct 10, 2019 • 56 tweets • 27 min read
Gonna be live-narrating the California Future of Work Commission today, and you can watch the stream here...
Everyone on the Commission now sharing their first influences on how they work -- a person who influenced htem. And again the only word I keep hearing is "immigrant immigrant immigrant immigrant immigrant"...
Having worked in government and with governments, I want to share a point of view on how government works -- apparently very different than what some other leaders in our industry believe.
(Already responded to him separately, so this is more to share my thoughts.)
I worked in NYC government once upon a time, and have worked over the years with many elected officials (e.g., on our fund's visits to small cities with VCs and members of Congress, to which Paul, you'd be welcome to join). Based on personal experience...
Many suffer from lack of work, while others suffer *from* work -- its inability to provide, its effect on their personal lives, their health. We can do something about it!
Thread on what we've learned in six years at Bloomberg Beta. ⤵️
From our first day, we've focused on the future of work -- investing in founders who use technology to make work more humane and more productive.
If we learn from communities outside the technology industry, we might not have to choose!
Jul 9, 2019 • 4 tweets • 1 min read
Every day I see more how rigged things are... in favor of people like us, and mostly like me.
Yeah, I still have to bust my ass, but I've also had this breeze at my back, now a gale force wind -- getting stronger with time and the climb.
Doing something about it is what's what.
I've sometimes felt guilt about this; guilt is a comfortable place for me. Totally unhelpful. I feel it less and less.
These days I more just see that things need to work for all of us to work for any of us. I want that. I want my kids to live in a world more that.
May 9, 2019 • 32 tweets • 6 min read
Thinking more that scientists might make the best CEOs, and the best CEOs might study how scientists do their work. Thread 👇
There are many models for leaders -- military generals, captains of sports teams, politicians, parents of a big family. Management books pick those metaphors to help people learn to lead.
Jan 26, 2019 • 10 tweets • 2 min read
I would be thrilled if American exceptionalism meant:
America was the only country on Earth where zero people live in poverty -- because we can afford that.
Dec 6, 2018 • 7 tweets • 1 min read
My favorite co-investors, in order, are:
1. Revenue
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