Lance Poole

Building

[Lance Poole @lancepoole]

@CedarStResearch @blondesnmoney My bull scenario is they embrace AI, get more efficient and are able to push the carriers. In the world of AI, I’d rather own distribution.

[Lance Poole @lancepoole]

@ryring They could build infra and insurtech that other carriers use, but this does not seem to be their stated goal rn.

[Lance Poole @lancepoole]

@ryring Is your book worth $1B? 😅 The valuation on Corgi assumes some insane movement upmarket. Having worked with and at companies that have more than 50+ employees, I'm having a hard time seeing how they displace the larger brokers.

[Lance Poole @lancepoole]

@matthewqueen84 @CedarStResearch For me its the worst of SF grind culture + the strangeness of the use of the RRG. I'm all for taking a different approach. Also, the insurtech graveyard is full of companies that raised too much, grew too quickly, and ignored the physics of insurance.

[Lance Poole @lancepoole]

@absurdistphil @mil000 My point is that businesses need property, workers comp and auto. So I disagree - they are covering a small slice of what businesses need.

[Lance Poole @lancepoole]

This is excellent analysis from the guy that wrote the book - literally - on Captives. Thanks Matthew for sharing this!

[Matthew Queen @matthewqueen84]

So we got a multibillion dollar captive out there. Kind of. More or less. @CORGI is suddenly a massive player in the startup business insurance space. Here is a breakdown on what the company is & how its doubled its billion dollar valuation in 3 weeks.

Corgi is the program administrator for the Technology Risk Retention Group, Inc. An RRG is a member-owned liability insurance company permitted to write across state lines. It's similar to an E&S carrier but only has filings with its domicile state & has materially lower capitalization requirements. TRRG is domiciled in Arizona which has a minimum paid in capital requirement of $500k.

TRRG is, in turn, reinsured by Corgi Reinsurance, Inc. Corgi Re is also an Arizona domiciled entity and appears to be a captive.

Both TRRG & Corgi Re are managed by Dane Management, LLC.

So what is Corgi? And why is it so important?

[Lance Poole @lancepoole]

@garrytan Using the google cli makes it clear that complex EA tasks could be done with one EA supporting 10+ execs. At many big cos these are 1-1 relationships.

[sam @samdape]

you basically need to be unemployed rn to keep up

[Neet @neet_sol]

Reading 1 LinkedIn post is equivalent to unreading 5 books

[malinvestment.jpeg @malinvested]

Of course that's your contention. You're a first-time SaaS bear. You just got finished listening to some podcast, Dario on Dwarkesh, probably. Now you think it’s the end of white collar work and seat-based pricing is screwed. You're gonna be convinced of that til tomorrow when you get to “Something Big is Happening”. Then you’ll install ClawdBot on a Mac Mini, vibe code a dashboard on top of a postgres database and say we’re all just a couple ralph loops away from building a Salesforce competitor. That’s gonna last until next week when you discover context graphs, and then you're gonna be talking about how the systems of record will be disintermediated by an agentic layer and reposting OAI marketing graphics.

“Well, as a matter of fact, I won't, because ultimately the application layer is just ….”

The application layer is just business logic on top a CRUD database. You got that from Satya’s appearance on the BG2 pod, December 2024, right? Yeah, I saw that too. Were you gonna plagiarize the whole thing for us? Do you have any thoughts of your own on this matter? Or...is that your thing? You get into the replies of anyone posting a SaaS ticker. You watch some podcast and then pawn it off as your own idea just to impress some VCs and embarrass some anon who’s long SaaS? See the sad thing about a guy like you is in a couple years you're gonna start doing some thinking on your own and you're gonna come up with the fact that there are two certainties in life. One: don't do that. And two: you dropped thirty grand on Mac Minis and LLM API calls to come to the same conclusion you could’ve got for free by following a handful of VC accounts.

[Lance Poole @lancepoole]

@aaron_epstein Can someone please build the version of Twilio that is designed for agents!

[Lance Poole @lancepoole]

@weathernerdga If you had a kid at UGA and lived in ATL metro, would you advise them to spend the weekend at home vs riding it out in ATL?

[Lance Poole @lancepoole]

@KylePorterNS RIP Rory’s chances this week after being picked by Gary, Jack and Tom ☠️

[Lance Poole @lancepoole]

@tiggrtch @united Rebecca - we're in the same boat as you. Has @united help at providing a cot or place to sleep or nothing?!?

[Lance Poole @lancepoole]

@Sistadrummer @tiggrtch @united We're in the same boat Shalonda. Is he sleeping in the airport tonight? Or is united doing something to help.

[Lance Poole @lancepoole]

@united my kid is stranded overnight in Newark with no help from you. Can someone please DM me as soon as possible to help.

[Lance Poole @lancepoole]

@shanebacon Playing my 50th hole of the day, 16th at Bandon on a guys trip. Doesn't get any better than this!

[Lance Poole @lancepoole]

@joshelman @micah Is it weird that I turned yours into a pillow?

[Lance Poole @lancepoole]

@garrett_TFE For sure. Love the punch bowl on 3. The bump on 14 is so simple and good. Also jealous of your time at Ballyneal. That place is in my top 5 for sure. Not sure which I regret more. Not buying Amazon stock in 2002 or joining Ballyneal when it opened. 😅