Thought Leadership Threads

VCs didn’t know what fintech was until giants emerged like Stripe, Credit Karma and NuBank.

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Then every VC wanted fintech exposure. But these “fintech tourists” have exited the building.

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What follows is advice 8 VCs who stayed the course are giving their fintech companies.🧵👇

Over 100 startups in our portfolio have refactored their operating plans in the past year.

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Some have become profitable with as little as $5MM of revenue while others have found ways to do more with less.

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Can you guess the four most common levers they pulled?🧵👇

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Memecoin trading is back with marketcaps for select coins exploding by 5X, 10X and sometimes even 100X+.

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Over the past few days I talked to traders who hold anywhere from $500 to $20MM+ of memecoins.

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Their views are eye opening! 🧵👇

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A disturbing change to society over the past few decades is the number of people addicted to “unearned dopamine”.

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Having spent countless hours with high stakes poker players and professional day-traders, I’ve seen the fallout. It can be ugly!

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A few thoughts:🧵👇

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The biggest fallacy in the Startup world is to believe that the entry price for a great investment is irrelevant.

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While great investments generate great returns, being indifferent to price is a function of sloppy thinking.

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A useful mental model that great Investors use:🧵👇

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There’s a major structural flaw in how the VC ecosystem works that we don’t talk about enough.

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It’s a flaw that creates confusion and bad advice for Founders.

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And it’s a flaw that makes no sense when you dissect it. 🧵👇

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People constantly wonder why the US has so many Banks compared to other countries!

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Are you wondering if the US system makes sense?

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Do you want to know where it's heading?

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Here's some history, charts, and thoughts: 🧵👇

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SVB’s biggest mistake was creating a balance sheet that wasn’t resilient in a rising rate environment.

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Correctly calculating the Beta of their deposits would have led them to construct a short duration investment portfolio.

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A primer on Deposit Beta and Deposit Stability:🧵👇

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Every business has a core function. Some businesses make athletic shoes while others make wide screen televisions.

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What’s become clear over the past week is that many people don’t understand what Banks actually do.

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A simplified explanation if you're interested:🧵👇

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