"Pedestrian walkways vanish into traffic. Flyovers slice through communities. Sidewalks and bus stops double as parking lots and garbage dumps. Crosswalks fade into oblivion. Roads keep expanding, despite evidence this only worsens congestion"
https://t.co/AxSVqBrJjp
Couple that with Jensen Huang describing the future IT department as HR managers for AI agents - hiring them, training them and deploying them into the company
LinkedIn is losing it. They are using AI-generated fake profiles to push ads, disguised as direct messages into the inboxes of everyone... including paying customers like myself who already pay ~$600/year for LinkedIn Premium.
What a low. (This is real, from my "inbox")
A brutal truth I wish I knew when I was fundraising.
I've spent the last few months on the inside, spending time with 50+ top tier investors and what they told me was shocking.
Tier 1 VCs: "90% of our investments are outbound, where we proactively reach out and chase the founder"
LPs: "majority of our fund investments are outbound, where we proactively reach out and chase the fund manager"
If you're a founder fundraising and reaching out to investors (this includes warm intros from other founders), you're in the 10% bucket.
VC is ultimately an outbound sales motion, chasing 1-2 investments a year:
- Analysts scour the market
- Associates proactively reach out and follow up
- Partners chase to convince founders to take their money
I didn't know this at the time so we ended up doing things the hard way. We ran a standard process, got intros from founders and met with every VC, but were rarely able to close in the end because we were in the 10% bucket, and not the deal that they wanted to proactively chase in the first place.
So if you're wondering why your classmate is able to raise a $30M seed but you're struggling to get a good termsheet, it's because VCs wanted to chase your classmate and not you.
Great companies are bought, not sold.
Build a company so compelling they chase you.
1/ Life expectancy calculators offer a simpler option to measure your progress
They are simple and free tools to measure your progress toward LEV. These calculators predict your remaining life expectancy using your lifestyle, genetics, and health status and choices.
Here are few for you to try:
1. John Hancock Calculator
2. UConn Healthy Life Expectancy Calculator
3. Death Clock
Poorer countries lack the education and resources to practice birth control. More wealthy countries are just filled with the post millennial generation who have the financial sense to know they either can't afford it or just don't want to deal with children
Paul Atkins has been officially nominated to be the next SEC chair, and it's virtually certain he will be confirmed in early 2025.
For years now, I've felt like the bearer of an impossible dream. Like I've been carrying the torch for an idea that, although impossible, would be so good we must give it a little brainpower just in case. Many others in the Reserve community must have felt the same.
The dream is that one day โ maybe โ we'll be allowed to bring the world's financial assets into the domain of tokens and smart contracts, providing extreme accessibility in financial markets, innovative structuring of financial arrangements, and liberty to those who want to hold their own assets for themselves.
For the past decade, crypto has been mocked for being home only to speculative, meaningless assets.
But you know what? We have not been allowed to give the assets meaning and value. The more your crypto asset provides clear economic value to its holder, the more likely you are to get sued. And if you try to register your asset with the SEC, in the unlikely chance your registration is approved, there will be nowhere for it to trade and nobody willing to touch it.
On top of that, the thought of existing financial assets like stocks and bonds freely trading on blockchains in the US has been pretty much out of the question.
So yeah, crypto has been a cesspool of speculative, often non-sensical assets, but we essentially haven't been allowed to use the technology to transact assets that have straightforward economic value!
Today feels different, it doesn't just feel like a dream anymore.
What if we will be allowed?
For years, the Reserve project has been building and improving the technology for DTFs โ like ETFs, but onchain; "decentralized token folios" โ with the assumption that all the world's financial assets will eventually be tokenized.
That's part of our multi-decade bet that the world might need an alternative to the US dollar within our lifetimes โ a nightmare I hope will never come to pass, but can't shake โ and our strategy for providing asset-backed currency to offer a backup long before it's needed.
We believe that DTFs will, like ETFs, be huge. But just as AMMs like Uniswap are very different from centralized securities exchanges like the New York Stock Exchange, DTFs will be very different from ETFs. AMMs are permissionless, so anyone can list. Assets are in your custody the entire time. DTFs are similar. Anyone can create them, issue them, or redeem them. Your assets are never held by a company that must be trusted, only by a computer program. They can be governed in a transparent, decentralized way, or static and completely ungoverned.
We believe that the free market creating any DTFs it wants will, through competition and extreme accessibility, lead to the best stores of value in the world.
And we believe that the best stores of value, represented in the form of a token that can be sent to anyone in the world, will make for the best form of money: asset-backed currency.
Since February, we've been preparing for a possible window of opportunity during this next administration, getting the pieces in place with the Digital Securities Initiative (https://t.co/F3vno9fwSu) to be ready to work with the SEC in the dream scenario where its leader is in favor of opening this new door.
When getting DSI started, I wondered who that new leader under Trump might be, and asked ChatGPT. Paul Atkins was on it's short list, and I thought "huh! that would be cool." He was an advisor to Reserve back at the start, and I knew he was a smart and open-minded person, willing to jump in and work with crypto projects like us.
We recently held interviews for DSI's main R&D position within Confusion Capital โ the person who would focus full-time on answering sticky questions we need to confront in order to make good regulations around tokenized securities โ during the week of the election.
We had many great candidates, and upon hearing the results of the election, we decided to hire two instead of one. Now is the time to take this seriously.
Now that we know Paul will be the SEC chair, I really feel we have no excuses. We must do the hard work and make the change that the industry and the world needs.
We must sort out how digital securities will register with the SEC.
We must sort out how crypto exchanges will trade digital securities.
We must sort out how companies that wish to issue equities and bonds on blockchains will be allowed to do so.
If you are another founder or lawyer out there interested in collaborating on the Digital Securities Initiative, our door is open โ it's a multi-organization effort, not something owned by any one company. If you know someone relevant, share this with them.
Now is the time.
Let's fucking build.
1. Firstly, the PM is not the โfather of the nationโ. That is a feudal concept which is not in our Constitution, and is against the spirit of reform.
2. Secondly there are good reasons why social media/ the internet exploded in anger when Anwar accepted Najibโs apology.
3. Let me speak out what is in the minds of right-thinking M'sians, which is, that the next thing will be Najibโs release from prison, whether by house arrest or otherwise.
4. Going by this governmentโs track record, it's not a baseless fear. We remember Zahidโs prosecutor suddenly removed and then his 47 corruption charges dropped. We remember the reduction of Najibโs sentence.
5. Anwar must address this concern, instead of labeling those who ask questions as โbebalโ, โnitwitโ etc.
6. Is the PM prepared to publicly state that the government will oppose through all legal means at its disposal the early release of Najib from Kajang prison, bearing in mind that the 1MDB case is the most scandalous theft of public monies since Merdeka?
@GergelyOrosz Every time I hear about Oracle I recall this legendary hacker news comment
https://t.co/ZszxdbDnC5
> โThe fact that this product even works is nothing short of a miracle!โ