bread 🥪

capital markets, deep-tech, culture 🦆. researching intersectionality here:: @strats_pro

[bread 🥪 @breadsandwoch]

We're building a decentralized system using blockchain, smart contracts, and community decision-making to make economic, political, and social systems better for everyone, everywhere.

This setup lets people and communities control their own rules, assets, and destiny, paving the way for decentralized apps, businesses, and even new kinds of networked communities.

Our mission is to create sustaining abundance for all.

It's a grassroots movement, scaling rapidly with coordination and high-impact outcomes.

This is what decentralization is all about.

[Mike Bird @Birdyword]

If I hadn't been to California I would think it was an invented place, a cautionary tale about how you poorly you can possibly govern a genuine physical paradise that's proved to be one of the most dynamic and desirable places on earth.

[bread 🥪 @breadsandwoch]

@ThinkingUSD Is that right

[bread 🥪 @breadsandwoch]

You should never change yourself for others. The world should have to change for you

[bread 🥪 @breadsandwoch]

@arbitrageadam2 📉📈

[bread 🥪 @breadsandwoch]

Learn your tools

[John Loeber 🎢 @johnloeber]

Notes on 100+ Recent Technical Interviews

I interview a ton of engineers. Recruiting is the single most important technical CEO activity. Here are a bunch of impressions

1. There is a severe ZIRP engineering overhang that is currently washing out. They're getting laid off, managed out, etc. after having been massively overhired around 2020-2022. This is worst for Tier-2 big tech (think PayPal, Bill, etc.) but also FAANGs. These are overwhelmingly bad engineers.

2. This flood of unqualified but good-on-paper candidates makes this the hardest SF hiring market I have ever seen, due to the amount of nominally strong-looking candidates that you need to grind through.

3. I am highly skeptical of "AI as a cause for engineering layoffs". I think this is a large-scale polite fiction -- the companies don't want to admit they overhired, the engineers don't want to admit they are bad at their jobs. Everyone's blaming AI when it's really just the market rectifying itself.

4. Many of these engineers appear never to have had a real engineering function at their corporations. They're sitting in meetings, "making decisions about technology" but are unable to write software. I leave many interviews baffled by what exactly they were doing for so many years, let alone what their manager was doing.

5. I have interviewed some engineers from FAANG companies so shockingly nontechnical that I am forced to conclude that there is either (1) a lot of resume fraud going on or (2) that there are kickback grifts within those organizations -- people hiring their cousins and splitting the pay, that kind of thing. I have no other explanation.

6. There's a fun side-effect where after interviewing 20+ people from certain small but public companies, I actually feel like I am gaining a short sellers' advantage: there are financial technology companies out there that, knowing what I now know, I would never deposit a single dollar into.

8. Based on this "exhaust" data, and extrapolating a little bit, maybe aggressively so: I think folks like @pmarca are basically right when they say that ~every tech company is overstaffed by a factor of 2-4x. Whatever the reason -- staffing ahead of need, monopolizing certain engineer types (Google-style), headcount-driven promotion incentives, the reality is that a lot of these companies are not being run for the shareholders. The aggregate SBC expense is insane, and I expect this is going to get rectified eventually.

I'm sure that AI will play a role in rectifying this -- but I fear that people are going to blame AI for taking people's jobs when the reality is that the jobs were already long-gone, possibly always useless, but the highly-paid butts-in-seats remained. People will be mad at AI for taking away their lucrative sinecures. Maybe that's the same effect from a public policy perspective, but it feels different morally.

[bread 🥪 @breadsandwoch]

The two party system in the US is the reason why the country is in a beaurocratic standstill and divided as it is

[bread 🥪 @breadsandwoch]

@craigweiss in it for the vibes

[bread 🥪 @breadsandwoch]

@brutal_gardener cutie

[bread 🥪 @breadsandwoch]

@alexandraandnyc gambling on stocks will never be the same

[bread 🥪 @breadsandwoch]

billion percent agree hahahaha

[Miss G @Miss_G_1]

Egocentric people

Not everything is about u ,get a grip.

[bread 🥪 @breadsandwoch]

@Miss_G_1 billion percent agree hahahaha

[bread 🥪 @breadsandwoch]

@blueyurx @strats_pro

[bread 🥪 @breadsandwoch]

@neharedy All of em

[bread 🥪 @breadsandwoch]

The issue is we should probably all move back to our hometowns and run for mayor and tweet about it

[bread 🥪 @breadsandwoch]

@Atitty Cinema

[bread 🥪 @breadsandwoch]

You can do anything if you put your mind to it

[Luke Metro @luke_metro]

From a young age, I have always wanted to be the exit liquidity for shareholders of artificial intelligence companies

[bread 🥪 @breadsandwoch]

@alexandraandnyc Amazing

[bread 🥪 @breadsandwoch]

@Bonecondor Go off king

[LindyMan @PaulSkallas]

everyone knows the value of envy. It tells you what you really want in life. And when you stop envying anyone, you can finally call yourself happy.

but envy also has another feature. It purifies status. Status without envy is just hierarchy.