eusden

Ex-Product @altopharmacy, @faire_wholesale, @Pinterest, @Hulu.

[Casey Winters @onecaseman]

Today, we’re pulling the curtain back to unveil SuperMe 1.0: the AI-native professional network, launch Perspective Search, and announce that we’ve raised a $6.8M seed round.

How @SuperMeAI works:
- Ask a question.
- SuperMe finds the right professionals.
- Their AI profiles answer instantly, grounded in their real work.

It’s how advice really works in business. We’ve just built it into the network.

Search is changing. But it has gaps. AI assistants answer without revealing the humans behind the knowledge. Perspectives are lost as blue links turn into one-size-fits-all answers.

Perspective Search is our answer to that. We show multiple answers to your questions, from people who have solved your problem before. You can also go deeper by engaging with individual profiles.

We’re also excited to share that we’ve raised a $6.8M seed round led by @mduboe at @GreylockVC , joined by some of the most thoughtful builders and operators in tech (see list below).

Read the full story in Alex Konrad’s Upstarts and our full launch post in the comment below.

We’ve brought on a large group of amazing angels to help bootstrap the network with fantastic insights:

Product Leaders:
@aparnacd , CPO for AI Experiences at Microsoft
@nikhyl , Founder of the Skip and Former VP Product at Meta
@archieabrams , VP Product at Shopify
@omarseyal , Head of Product, AI Search at Instagram
@ngavini , former CPO at Pinterest
@makavy , former CPO at Lyft
@ShaunMClowes , CPO at Confluent
@eugenewei , former CPO at Oculus, Hulu, Flipboard
@jasoncosta , Sr. Director Product at Reddit

Founders:
@shishirmehrotra , CEO of Superhuman
@bbalfour , Founder/CEO of Reforge
@VanjaJosifovski , Founder/CEO of KumoAI, former CTO at Pinterest
@catleecatlee & @smallchou , former bosses of mine at Pinterest and co-founders of Pace
@rob, Co-founder of Ro
@PameVls , Founder/CEO of Musa
@IAmBrandonTerry Founder/CEO of Village
@dmccartney Co-founder of ScoutFM

Growth Leaders:
@ElenaVerna , Growth at Lovable
@brianhale, Chief Growth Officer at Doordash
@fishmanaf , Growth and Product Advisor
Darius Contractor, Chief Growth Officer at Otter
@luclevesque , former Chief Growth Officer at Shopify
@dannieb , Head of Growth Engineering at Coinbase
@micahmoreau , SVP Growth at Hims & Hers
@sri_batchu , former CMO at The Real Real
@HilaQu , Former VP Growth at Gitlab
@eusden , formerly Growth at Pinterest, Alto, Faire
Operators:
@danhockenmaier , Chief Strategy Officer at Faire
@jluan , Head of AGI SF Lab at Amazon

@lieber, former COO Postmates, CBO Shippo
Morgan Hughes, former CFO at Cambly, VP Finance at Airbnb and Grubhub
@mckenzielock , GM Content Platform at Netflix
Ali Behnam and Michael Morell at Riviera
Eddie Hsu, Head of TPM, Android at Google
Jeffrey Chang, Product at Adobe
Benjamin Huh, Assistant General Counsel at Crowdstrike

Investors:
@lennysan , Author of Lenny’s Newsletter & Lenny’s Podcast
@HarryStebbings and @Kieranleehill at20VC
@kevinakwok , Partner at Sutter Hill
@mercebent , Co-founder at Premise
@Chengdavid923 , GP at Coreline Ventures
@tkendall, founder at Common Metal and former President at Pinterest
@NikkiFarb , Founder at Power of N
@ngoel & Amr Al-Shihabi at Karman Ventures
Mei Z.
@ikirigin , Founder at Tango VC

We’re just getting started.

[David Cheng @Chengdavid923]

EvenUp, one of the fastest-growing Vertical AI companies, announced their $2B+ Series E last week.

They were rejected by YC three times.

When I led their seed in 2020, few investors saw what they could become.

Today, they’re the poster child for the “sell the work” thesis.

[eusden @eusden]

@cperruna Can you share your % cash position as well?

Great talk on "When to Sell", thank you for sharing that publicly.

[eusden @eusden]

@cperruna Of all the billionaires to hate on, Cuban's pretty low on my list. https://t.co/fAJtVvZ6wc is tackling a pretty messed up industry.

There's always more someone can do, regardless of wealth level. Advocating good should be celebrated, not disparaged.

[eusden @eusden]

must read from @LynAldenContact .

- "4% of all stocks accounted for basically all stock market returns in excess of T-bills"
- "leverage improves a mediocre investment [because] their fiat currency short is a good investment"

https://t.co/ELgsHgyDm9

[eusden @eusden]

@TXMCtrades @MichaelAArouet How would the government juice revenue aside from increasing taxes? Stimulating corporate earnings would just add to the debt burden.

[eusden @eusden]

@crypto_div @LynAldenContact Right, this is the base case if no external shocks like Covid or international conflicts happen. The likely scenarios only affect the budget in one direction.

[eusden @eusden]

@TXMCtrades The PE ratio for SP500 is elevated but not quite at historic highs. The price slope is increasing but so is earnings slope. The asset inflation due to liquidity is likely a major contributor to this slope phenomenon. https://t.co/Ka2ZgE1kXI

[Dylan LeClair @DylanLeClair]

General $BTC market outlook update:

Supply distribution has started. Here's what I'm looking at and how it compares to previous cycles, and what might come next:

First off, the biggest story is obviously the ETFs. $IBIT has been the most succesful ETF launch in history by a wide variety of metrics, and just looking at BlackRock + Fidelity alone, they've bought 284k BTC since launch, greater than 1% of total #bitcoin supply that will ever exist.

On a net basis, including $GBTC outflows, ETFs have hoovered up ~160k BTC since launch in early January. Just massive numbers. Demand has surpassed most all initial expectations, with increasing strength into the rally ($788m of inflows from $IBIT alone yesterday amidst a -8% close from ATHs). While the bitcoin market has boomed post ETFs, nothing exists in a vacuum.

For those that have been following since before the ETF, it was clear the ground work for this rally was laid over the past couple years of bear market purgatory.

Various on-chain HODL metrics clearly showed all time levels of supply constraint. From the most simple to understand (i.e. '% of supply last moved in N+ years' most all hitting all time highs) or more advanced quantifications of HODL strength using the UTXO set, despite the +100% bounce from 2022 lows, net accumulation was on-going for much of 2023.

However, as is tradition with the ever-cyclical $BTC market, with the rise to new heights comes the distribution of coins to new entrants from the old guard.

This can clearly be seen by the change in long-term holders over the recent months. For those interested in a deeper dive on the quantification of LTHs, you can take a deeper dive here: https://t.co/9FbZj1JY6M

However, at this stage, I'd say its far from worrisome, nor by any means a red alert for bulls. New distribution (on a 30d change basis) began to occur at ~$1k in 2017 and ~$13k in 2020 during the run up to new highs, and started in early January this time around.

Here's a visual of the distribution that has begun to occur. Below displays the drawdown in supply held by long-term holders from its local two peak as a percent of circulating supply. Just the start, and likely to increase as new highs are set (if current rally is sustained).

A clear takeaway should be just how strong distribution can become during a raging bull market while price is still going parabolic.

As new forms of demand unlock from new classes of investors that realize bitcoin did not indeed die during the previous bear, while fundamentals such as liquidity and adoption have improved, unlocked supply can be overwhelmed by newfound demand for quite a while. A local peak is reached once an increasing overhang of supply exceeds newfound demand at exceedingly high prices, the exchange rate crashes, and we repeat the whole cycle of accumulation all over again.

In terms of catalyst on the horizon I am watching, there are a few obvious ones. First, it's still the early innings of ETF allocations. These passive flows from the world's largest financial institutions will continue, and are likely to grow given the immediate success of the products. Here are some of my thoughts from back in November on the impact of ETFs. All still hold true today, and admittedly my initial expectations have been far surpassed. Crazy bullish.
https://t.co/gshlNVqGtZ

Portfolio managers and financial advisors have zero excuse to ignore the best performing asset in absolute and risk adjusted returns after the BlackRock stamp of approval and subsequent ETF rollout. You especially can't afford to ignore it when your direct industry competitors aren't ( $IBIT is currently +25% above its average volume weighted price ). There will be chasing.

Secondly, the FASB accounting rule change has massive implications that have not begun to be priced in or felt by the market. Post 2020, it was only $MSTR, $SQ, $TSLA, $COIN, and some miners with $BTC exposure in public markets, which was treated as an intangible asset.

It's only a matter of time until CFOs everywhere, with improved accounting standards for $BTC, begin to wake up. Saylor's $MSTR raised another $700m this morning at 0.625% in the convertible debt market. This is on top of already tapping the corporate debt market with a 0% convert and a 6% junk offering previously.

You could've laughed and dismissed it all you wish during the mania of 2021. Laugh they did, yet MicroStrategy is +933% from the point they adopted a bitcoin standard, and every single debt instrument issued and equity sale facility utilized to buy $BTC is in the money. There will be copycats.

While maybe not as ALL IN as Saylor's $MSTR, there WILL be copycats.

Capital markets are still mispricing this transition. Corporate speculative attacks and share dilutions to acquire $BTC will occur with increasing levels of frequency and size. This is not going away. The playbook has been vindicated. After a decade+ of ZIRP financed buybacks that decapitlize corporate balance sheets that created a zombified public sector, the pendalum is going to swing back. $BTC is the new stock buyback, most companies just haven't figured it out yet.

Lastly, Russia being kicked from SWIFT sent a clear signal to any not under the umbrella of USD hegemony. Multiple sovereign are currently mining BTC. Multiple are likely accumulating in secret currently as well.

$BTC is running it back on a global stage, but this time around with pipes built out directly into the heart of TradFi.

In summary, yes, incumbent HODLers have begun to slightly distribute, but they are currently being met by an insatiable wall of money. It's going to be a wild ride ahead.

Finally, if you found any of this interesting or valuable, consider a share. 🧡🫡

[eusden @eusden]

@cperruna I routinely stop discussing politics with friends because it goes nowhere. Everyone has an idea but they don't put in time or money to affect change.

And it's hard to find and support the few people with the agency to affect change.

[eusden @eusden]

@LynAldenContact @billfour @CNBC @michaelsantoli If bitcoin and corporate adoption of bitcoin is inevitable, it reasons that there needs to be enterprise level technologies at the level of SAP, Oracle, or... Microstrategy.

$MSTR isn't just a leveraged BTC play.

[eusden @eusden]

@LynAldenContact Is this still the preferred chart for liquidity? https://t.co/CpR3moR9mv

And any ideas why it diverged with SPX from 2018-2020?

[eusden @eusden]

@Larry_Short @minenergybiz Because the projections assume increasing demand while no one knows if/when a recession will hit. In 2008 copper prices went from almost $4/lb to $1.4/lb. $FCX went from $60+ to below $10. Bulls and bears are playing chicken here.

[eusden @eusden]

@TTTTT183 @Convertbond If your deficit growth rate is slower than the rate of inflation, the debt will technically be shrinking in terms of real GDP (ignoring interest rates fluctuations and assuming GDP remains constant.)

[eusden @eusden]

@RTelford_invest 👏 Does the same exist for US micro caps? Is there something unique about TSX?

[eusden @eusden]

@jorge_utd @TheRealAdamG @OpenAI Is passing PHI to the endpoint without a BAA, even if encrypted and not retained, complaint with HIPAA?

If PHI is not involved, then there’s no concern of HIPAA violation?

[eusden @eusden]

I sent a wire from HSBC to Bank of America last week. It took 2 days, and $25 went missing. After speaking with both banks, each insisted the other deducted it and neither can offer paper trail. 🤷‍♂️

https://t.co/PVChAGMnV5

[David Marcus @davidmarcus]

Imagine if you couldn’t send an email between Gmail and Yahoo! mail. This is the sad reality of payments in 2023. There is no SMTP for money. Lightning solves this and will bring interoperability between wallets, exchanges, and financial institutions. It’ll change everything.

[David Marcus @davidmarcus]

Imagine if you couldn’t send an email between Gmail and Yahoo! mail. This is the sad reality of payments in 2023. There is no SMTP for money. Lightning solves this and will bring interoperability between wallets, exchanges, and financial institutions. It’ll change everything.

[eusden @eusden]

Best summary of the state of GPT/LLM technology today, explained in a very approachable way for non-technical folks: https://t.co/uJUxYU017w

[Wall Street Mav @WallStreetMav]

Chicago has sold their parking meter revenue in advance for 75 years and got a lousy deal.