Allyn | Backpac.xyz

🇧🇿 | @backpacXYZ | PS: I love cars

[Allyn | Backpac.xyz @Coveted]

@mhxvrt @Itata_9 @Honeyjuicy_ Same. 🤣🤣🤣

[Allyn | Backpac.xyz @Coveted]

@EN0CX That guy details most of the cars in the building. Every week.

[Allyn | Backpac.xyz @Coveted]

@suraj_sharma14

[Allyn | Backpac.xyz @Coveted]

@christophersaum WTF

[Allyn | Backpac.xyz @Coveted]

@0xmesuthere @0x_Mist 🤣🤣🤣

[Allyn | Backpac.xyz @Coveted]

@0x_Mist Yup. And that’s exactly what we did.

[Allyn | Backpac.xyz @Coveted]

@davidrgoldberg Yeah, no. I’ll wait for it. Maybe a v3.

[Allyn | Backpac.xyz @Coveted]

@dara_venture Oh boy.

[Allyn | Backpac.xyz @Coveted]

@robby_mtf Well said.

[Allyn | Backpac.xyz @Coveted]

@KhananiShingan1 I listen 80% talk 15%.

[Allyn | Backpac.xyz @Coveted]

@credistick @msuster We need a source of funds that don’t do this.

[Dan Gray @credistick]

On one side, you have the VC, with a network.

On the other, the founder, without.

Just to get the attention of the VC, the founder must navigate a network of strangers to find someone who believes in their idea enough to agree to pass it on.

And then they hope the VC, hearing this idea from a second-hand source, also sees the potential.

Who does this nonsense work well for?

It works reasonably well for founders with "obvious" ideas that have some recognisable "pedigree", who are perhaps gifted with charisma.

However, none of these attributes are positively correlated with returns.

They are positively correlated with generating faster markups, so it also works well as a filter for the scaled venture platforms who sell allocation to LPs.

But, for most founders, it's a massive waste of time and a painful distraction to be forced to play this ridiculous ego-driven relationship game.

The first thing any new VC should pledge is to not waste founders' time, because it is infinitely more precious than any VC's time.

The arrogance of making founders jump through hoops for a chance at raising money is insane. Unless you believe your customers are LPs, rather than founders.

[Allyn | Backpac.xyz @Coveted]

@annhybri It be like that sometimes

[Allyn | Backpac.xyz @Coveted]

Can confirm… 🤷‍♂️

[Jake Paul @jakepaul]

Does anyone else feel like being too real has caused more problems in your life?

[Allyn | Backpac.xyz @Coveted]

@adamshuaib My question, how’d this team got 100 warm introductions?

[Allyn | Backpac.xyz @Coveted]

@Brent_Fulfer No state tax. Soon no property tax. Beach access 12 months a year VS …….. None of that 🤷‍♂️

[Allyn | Backpac.xyz @Coveted]

@LucasDickey4 @stripe @atlas Yup

[Allyn | Backpac.xyz @Coveted]

Macrohard....

[Allyn | Backpac.xyz @Coveted]

😳🙂🙂🙂

[Marshall Haas 🏎 @marshal]

Inside my garage studio:

I always wanted a workspace surrounded by cars. I have a beautiful home office, but I choose to be in here working and tinkering most days.

It’s always a bit messy, but that’s kind of the point. It’s my place to be creative.