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.
Personal update: I've joined Anthropic. I think the next few years at the frontier of LLMs will be especially formative. I am very excited to join the team here and get back to R&D. I remain deeply passionate about education and plan to resume my work on it in time.
Rick Rubin reveals the three completely different creative processes used by Eminem, Jay-Z, and Anthony Kiedis
"Eminem will always be writing in a book, always writing all the time. I asked him, are all these rhymes used? He's like no, 99% of what I write I'll never use, just to stay engaged in the process of writing"
"Jay-Z doesn't write anything down. He listens to the beat, hums, then goes on the mic 20 minutes later and just says a whole complicated verse. No paper, no writing, nothing"
"Anthony Kiedis sings along with an idea of a melody but he doesn't yet have words, just nonsense words automatically real time, then listens back and says this phrase sounds good. It's like a puzzle"
1/ Cool paper from @drmichaellevin + @BenjaminLy61243
Prices in an economy do the same job that bioelectric signals do in your body
they're the "GLUE" that turns billions of independent agents into a single coordinated intelligence (or CI)...