Jonathan Fung

jonathanfung.eth

[Jordi Hays @jordihays]

Making a pre-seed bet is like a 10 leg parlay.

You’re betting the company:

1) makes a product people want
2) captures a meaningful part of a big market
3) attracts great talent
4) doesn’t run out of money
5) maintains an insane growth rate
6) founders don’t break up
7) doesn’t get beat by another team
6) successfully launches second product
8) successfully launches more products
9) finds a buyer or IPO
10) exits at a decent multiple

And that’s why we love venture.

[Jonathan Fung @JonFung]

Best detail in the story is that the forged resume featuring a degree from @uhmanoa landed jobs paying $970k of salary over 3 years.
https://t.co/lLPabkindB

[Jonathan Fung @JonFung]

@TechCrunch with their contender to break the internet record for number of "CHEEHOOs" in a single serious news article. https://t.co/q0ePQ3fRjm

[Jonathan Fung @JonFung]

@jkwade @Shift4 @rookisaacman Very timely piece this morning, Jareau, especially with "buy overlooked companies!"

[Jared Sleeper @JaredSleeper]

At Avenir, we’re optimistic about the future of software- but keenly aware that the sector has struggled lately.

This 45-page deck is our answer to a question echoing through the venture ecosystem and beyond: “What’s Wrong with SaaS?!”

https://t.co/8sMVHLpGte

[Jonathan Fung @JonFung]

@morganhousel Scottrade > TD Ameritrade > Schwab
All had human advisors and branches, but the product seemed to get better with each acquisition.

[Jonathan Fung @JonFung]

Great Verge article on the history of Google Reader. I spent hours on that site every single day until it closed. Glad @feedly came to fill the gap with even better features!

https://t.co/MwoccdhP5G

[gaut @0xgaut]

SEO game too strong

[Jonathan Fung @JonFung]

Paul Allen's $1.6bn sale may show that art returns may not necessarily be that much better than simple index investing.

[Chad Aldeman @ChadAldeman]

Yeesh, look at these chronic absenteeism rates in San Francisco: https://t.co/gLCXoZu3EV

[Matt H 🇺🇦 @mdharrisnyc]

Biggest Fintech lesson I’ve learned in the last 5 years.

Incumbent financial institutions are slow, not stupid. If your main advantage is acquiring consumers banks don’t want, there’s probably a good reason they didn’t want them.

Your biz model should account for that reason.

[Jonathan Fung @JonFung]

@heysamir_ Gemini is a good one too. Three card color options with names revealed when you flip them over: Rose Gold = Satoshi Nakamoto, Black = Cameron Winklevoss, Silver = Tyler Winklevoss.
https://t.co/Vptp5qaeW1

[Jonathan Fung @JonFung]

@packyM Reddit Collectible Avatars is the best DeFi mullet and experience to date. Wallet setup, fiat on-ramp, gas fees are all in the background and seamless.

[Jonathan Fung @JonFung]

@iankar_ Galileo has enabled round ups out of box for a while now--this blog post cites March 2021.
https://t.co/VGr1BdeEJ4

[Jonathan Fung @JonFung]

Illustration of what is unpopular in public markets for crypto today (Source: first page of Bitcoin Depot SPAC Investor Presentation)

[Jonathan Fung @JonFung]

Buyers' remorse in higher education from the 2021 Fed Report on Economic Well-being

[Jonathan Fung @JonFung]

Spooky chart from Upstart's Q1 earnings: stimulus helped loan portfolio outperform their credit models...but only temporarily.

[Orlando Bravo @OrlandoBravoTB]

It amazes me how tech cos' get really worried about their ability to give debtholders a 3% aft-tax return but are so confident they can give equity a 30% return.

[Orlando Bravo @OrlandoBravoTB]

As much as I respect & admire @WarrenBuffett, I don’t understand why he hangs on to the idea that #Bitcoin is not money because money is what the govt says it is. He’s leaving out something more important than the govt — money is what people in the free market say it is.

[Jonathan Fung @JonFung]

@mansourtarek_ By [knowing why the question is being asked and] buying binary options on Nasdaq [using Kalshi] with known binary P&L if held until expiry—thus the magnitude of return is uncorrelated w underlying returns.