Founder Mafias, Christianity, & More Books
Hello friends. I’m writing you from Brooklyn. Life has been intense lately. I’m evaluating some big personal decisions, which has lead to a bit of existential angst. Actively practicing gratitude has been really helpful on that front. It’s kind of funny to reflect on how easily we humans can work ourselves up over things.
While having dinner with an old college friend on Friday, I was reminded of how much the Andrew from a few years ago would have killed (just a metaphor) for my current problems. Perspective is everything.
In other news, I’m hiring two people for my team at On Deck Angels. If you know any great folks, send them my way.
Internet Reads That Caught My Attention 🔗
“The best predictor of having a strong founder alumni network is a company that:
(1) had a successful outcome but not crazy successful -- likely had an exit between $300 million and $2 billion
(2) the company went through a bunch of trying times (and almost went out of business)
(3) the employees built a company that was super enduring and even prospered post-exit.
Pretty much all successful mafias have those three characteristics.”
An interesting take on why some companies have excellent founder/alumni mafias and others don't by Auren Hoffman.
Owning the Online: What are NFTs?
An excellent read at the intersection of NFTs, crypto, art, history, community, and human behavior by my friend Kyla.
There’s a strong argument to be made that we are living in the early days of a modern Renaissance/Enlightenment. The internet fundamentally creates new ways to behave, organize, interact, work, own, etc.
I don’t know where all of this goes, but it’s an exciting time to be alive.
David Perell published a fascinating article discussing Christianity’s pervasive influence on our modern beliefs. Despite the increasing prevalence of atheism and agnosticism, the moral fabric of our society is still fundamentally Christian.
“Human equality is self-evident only if you assume, as Locke did, that God has given us the natural rights that modern Americans take for granted…. In other words: If you believe in human rights but don’t believe in God, you need a logical explanation for why they’re self-evident….
We are desensitized to Christianity’s influence on Western thought not because it’s irrelevant, but because it’s so all-consuming. Consider this: the coordinates of time and space are both measured in reference to Christ. The year at the top of every calendar denotes the number of years since Christ was born. When it comes to space, “The West” is any place to the West of where Christ was crucified.”
Perell goes on to conclude:
“They [his secular friends] don’t believe in God because there’s no empirical reason to believe in him. But at the same time, they believe in human rights, which can be justified only by the very God they don’t believe in.”
I recommend reading the entirely article. It’s extremely thought provoking regardless of your religious beliefs.
Deals, Funding Rounds, & Market Moves 💰
Understanding China’s Recent Moves in Its Capital Markets
“To understand what’s going on you need to understand that China is a state capitalist system which means that the state runs capitalism to serve the interests of most people and that policy makers won’t let the sensitivities of those in the capital markets and rich capitalists stand in the way of doing what they believe is best for the most people of the country. Rather, those in the capital markets and capitalists have to understand their subordinate places in the system or they will suffer the consequences of their mistakes. For example, they need to not mistake their having riches for having power for determining how things will go.”
Ray Dalio is one of the most informed economic and geopolitical thinkers on China. Though I don’t always agree with his takes, his commentary on China is worth listening to.
Product Hunt Adjacent VC Fund Hyper
A month ago, Product Hunt CEO and prolific investor Josh Buckley announced a new $60M early-stage fund that would exist as a sister company to Product Hunt. Now Hyper is adding Loom co-founder Shahed Khan to the team as a co-founder and GP.
A few interesting things that stand out about Hyper:
Fractionalized teams: Most of the Hyper team has significant other professional commitments. Josh Buckley was already a CEO and solo capitalist. Shahed is building a billion dollar company at Loom.
Operator Investors: Hyper’s founding team is stacked with former and current operators. It’s hard to imagine a group of VCs that have never operated being able to build this fund.
Bundling Venture Capital: Hyper is doing a lot of things all at once. They’re launching an 8-week founder program that bares similarities to several existing founder programs such as On Deck Founders. There will also be a demo day, office hours, and an advisory network.
Distribution as Value Add: Ultimately, one of the biggest pieces of value that Hyper has to offer is distribution. Product Hunt is still one of the best platforms to launch a new product and acquire early users. They’ve also built a strong advisory network of folks with big online followings.
In the midst of trends like the unbundling of venture capital, the rise of solo capitalists, and operator angels, Hyper stands out as a new bundle of venture capital. The fund has the potential to add more value than 90%+ of VC firms. I’m bullish. 🐂
Startup Ideas💡- DAOs & Homeschooling
DAO Experiment
Not a true startup idea (yet), but I’m working on spinning up a DAO. IMO, one of the best ways to learn is by doing.
If you want to get your hands dirty or just follow along, fill out this ~20 second form to stay in the loop. 👉DAO Form
If you’re wondering wtf a DAO is, check out this article.
Homeschool Startup Idea
Previous readers of this newsletter know that I’ve been exploring a startup idea in the homeschool space. Since the last letter, I’ve started meeting with founders working on interesting ideas in the home/hybrid schooling industries. I’m especially excited about a founder I met on Friday.
No other major updates yet, but I remain excited about this idea. The thread pulling continues. 🧵
Intellectual Rabbit Holes 🐇
Books I'm Reading 📚
Yesterday, I threw together a thread on Twitter sharing a few of the best book’s I’ve read so far this year (including links).
A phenomenal read on the years directly preceding Julius Caesar's rise and the subsequent fall of the Roman Republic.
We live in a period of significant uncertainty about the future. In some circles, folks are incredibly optimistic. In others, folks are incredibly pessimistic. I find history to be an incredible antidote to such uncertainty. Human’s have pretty much always been anticipating “the end” throughout history. So far, it hasn’t happened.
Content from me 👋
I’m currently working on a guide to getting started for tiny check operator angels. While there’s a lot of great content about angel investing, there are important nuances that aren’t discussed. If you have suggestions for what this piece should cover, lmk.
Nomadic Adventures ✈️🚗
My phone camera broke so no great photos to share right now, but I’m in NYC for at least the next 2-3 months. Hit me me up if you have tips or recommendations for stuff to do while I’m here.
Live is for the living. I hope you’re living yours fully.
With love, ❤️
Andrew