Excited to announce that we've raised $3m in seed funding and are now launching Odin publicly!

Here's a bit about why @morty_lin and I are building @JoinOdin Over the next 20 years or so, technology is going to revolutionise energy, healthcare, education, finance, food production…basically any industry you can think of. It’s a huge opportunity, and there’s a lot to be excited about.

Running an angel syndicate has obvious direct benefits (Carry) and indirect benefits (auto-scaling, deal access and ability to perform diligence).

What you might not realise is that these benefits look pretty good even when compared to running a fund... 1. Deal Carry:

When you lead a syndicate, you are able to charge carried interest ("carry"); a share of profits on exit.

Deal carry (from syndicates) has a significant advantage vs. fund-level carry. It stacks the returns in your favour.

First a short explainer on deal carry:

My napkin calculations estimate @ycombinator's DPI (distributed to paid in capital ratio) for their 2005 - 2013 vintages at ~320x.

That’s a 31,900% fund-level return. In cash terms, they turned ~$11.2m of invested capital into ~$3.6B.

Here's a rundown of the numbers: Over the years the Y Combinator deal has evolved, but they’ve always tended to take a 6 - 7% stake.

In their very first batch, they invested ~$20,000 per company. It stayed this way until 2014, when it was increased to $120k.

Founders Fund is one of the top-performing VC firms of the last 20 years.

Launched in 2005, they are now a household name; early investors in Facebook, SpaceX, Lyft, Deepmind and Palantir. Other hits include Airbnb, Spotify, Stripe, Twilio, Asana and Figma.

How did they do it? Peter Thiel, the Don Corleone of Founders Fund, is a famed contrarian and a divisive figure in left-leaning Silicon Valley

Thiel notoriously backed Trump’s election campaigns, invests in oil and defence (weapons), and single-handedly took down Gawker Media, who outed him as gay

NATO (USA) has grown stronger at Russia’s expense in the last 30 years.
Ppl in power grew up hearing ‘USA = enemy’ as a constant narrative, and in their world view the enemy is now at their gates.

1/n

https://twitter.com/balajis/status/1484787042911342595

A look at the history of this region is useful to understand things objectively.
Kievan Rus (Ukraine + western Russia) is the original homeland of the Russians. It was taken over by the Mongols during their invasion of Europe in the 13th Century.

en.wikipedia.org/wiki/Mongol_in…

In the 21st century, social influence = capital (thread) 1/ The pace of this transformation is accelerating
2007: 50 Cent earns between $60m and $100m after the Coca-Cola Company acquires Vitamin Water