Tremendous

An angel investor's take on life and business

  • How Often Do Founders Actually Send Updates?

    Founders often tell you they’re going to send monthly updates, but how often do they really do it? Today, I did a review of my entire portfolio to answer that question. Here’s what I found…

    A Peak Inside My Portfolio

    • 31 names in the portfolio total
    • 28 of those investments are active (the others have exited)
    • 2 founders said upfront that they are not doing updates. I invested knowing that, so I am not expecting anything from them.
    • 2 investments were made in the last 3 months. Those rounds are still closing, so I don’t expect an update yet.

    That leaves 24 active investments that should be sending updates. So, did they do it?

    • 20 of 24 have sent an update in September or October
    • 2 sent updates in August
    • 1 sent an update in April
    • Only 1 company has not sent an update this entire year. I just contacted them to see what’s new.

    Amazing job, founders! 20/24, or 83% of companies are right on time with their updates. Most of those that are behind are pretty close.

    Given how much work it is to run a company, that’s incredibly impressive!

    Do Frequent Updates Correlate with Success?

    I’ve heard a ton of investors say that the more frequent the updates, the more successful the company. But from what I’ve seen, that is not true.

    The results are bimodal. If you aren’t hearing from a company, it’s either a likely 0 or a huge success.

    My most successful investment is a SaaS startup I backed at pre-seed that hit $17 million ARR in less than two years. I rarely hear from them.

    And guess what — I don’t care! I’m never going to bother these guys for an update.

    By contrast, the company I have yet to hear from this year is probably about to go out of business, if it hasn’t already.

    What Should You Do if You Don’t Get an Update?

    “You are 11 hours late on your update! How dare you?! I gave you money!” Yeah, not that.

    I never contact a company for an update unless I have not heard from them in 9 months or more. Running a company is hard. If a founder commits to monthly updates, I’m happy if I get 4 a year.

    After 9 months, I send a very polite message:

    “Hi Jim!

    Did I miss your monthly update? I’m not seeing one since December 2023.

    Hope all’s well with you!

    Best,

    F”

    Notice how I put the blame on myself. Maybe my spam filter zapped their message or it got lost in an avalanche of ads.

    If I still don’t hear for another few weeks, I’ll send another message.
    The key is to be nice. These folks are working hard for you, and they don’t always have time to get the update in.

    What Should Be in My Update?

    Some founders miss updates because they think an update has to be an elaborate presentation. Not so.

    Here’s what an investor update should look like:

    “Dear Uber Investors,

    We had another great month! Big increase in sign-ups is driving revenue.

    Sept Revenue: $42,000 (+ 35%)
    Burn: $30,000
    Cash in Bank: $1,200,000
    Runway: 40 months

    Highlights:

    • Signups doubled this month to 5,200
    • NYC launched!

    Lowlights:

    • Key engineer left, working on replacement

    Asks:

    • Intros to excellent engineers for our open position
    • Intros to growth hackers with marketplace experience

    Shoutouts:

    • Francis Santora for introducing us to Sequoia, Mike Michaels for intro to growth hacker

    See you next month!

    Travis”

    It really is that simple. Your update should be brief and mostly numbers.

    You will want these key figures for your own use anyway. You may as well share them with your investors too.

    And if they’re bad, don’t worry. Your investors may be able to help!

    Wrap-Up

    I’m surprised at how founders are so on top of their updates! I’m also really impressed.

    These are some of the busiest people in the world. And let’s be honest, sending the investor update isn’t their highest priority task.

    If you’re running a little (or a lot) late on your update, write up a little note today! Your investors will love to hear from you.

    And if you’re an investor, reply to the updates! Most investors don’t, and it’s an easy way to encourage a founder and show you care.

    What do you think…do updates correlate with success?

    More on tech:

    Small Investors Lead to Big Investors

    How I Make Sure I’m Never Late to Meet a Founder

    Talking Investment Red Flags on the Mr. Bray Labs Podcast

    Save Money on Stuff I Use:

    Fundrise

    This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 with great returns.

    More on Fundrise in this post.

    If you decide to invest in Fundrise, you can use this link to get $100 in free bonus shares!

    Misfits Market

    I’ve used Misfits for years, and it never disappoints! Every fruit and vegetable is organic, super fresh, and packed with flavor!

    I wrote a detailed review of Misfits here.

    Use this link to sign up and you’ll save $15 on your first order. 

  • Eternal Life in a Pill: Juan Carlos Belmonte at the All-In Summit

    https://twitter.com/theallinpod/status/1841226529277399184

    “Can we rejuvenate an organism?”

    No one knows for sure, but Juan Carlos Belmonte is getting close.

    In a fascinating talk at the All-In Summit, Belmonte explains how he’s using cellular reprogramming to reverse aging in mice and, perhaps one day, us.

    Why We Age

    After age 40, the likelihood of death skyrockets.

    It barely matters what cause of death we look at. All the curves slope upward violently around that age — which is right around the age I am now.

    As we age, our cells become less able to repair themselves. Eventually, the damage becomes more than we can bear, and we die.

    But Belmonte, a researcher at the Salk Institute and Altos Labs, thinks he has the solution.

    How Yamanaka Factors Could Reverse Aging

    Belmonte gives short pulses of Yamanaka factors to cells. These pulses change the epigenome, or the way genes express themselves. They don’t change our actual DNA.

    These short pulses can rejuvenate cells.

    So far, Altos Labs has succeeded in reversing aging in countless mouse models: liver, kidneys, brain, muscle tissue, and skin. They’re also studying the use of metformin in monkeys to restore cognitive function in elderly animals and increase lifespan.

    Rejuvenating Humans

    Helping mice live longer is impressive. But when you get to monkeys, you’re incredibly close to being able to treat a human.

    Human beings are where Belmonte is headed next. His team is working on rejuvenating human cells in vitro, or in a petri dish.

    Next, he plans to work on rejuvenating organs that have been donated. Sometimes, those organs aren’t in good enough condition to be transplanted. But if Belmonte can reprogram them, surgeons may be able to use them.

    In vitro studies and rejuvenating organs for transplant will be incredible proofs of concept. And since they pose no danger to humans, they’re a clever way to test Altos’ technology.

    When Is the Pill Coming?

    But of course, we all have one question: how long until I can take a pill and be young again?

    Belmonte’s answer shocked me:

    “I feel the next decade probably many of these discoveries, with the caveat that it’s a mouse and a mouse is not a human, might be translated to humans.”

    Ten years. That’s nothing!

    In a decade, we could be taking pills to live longer and healthier. Even if he’s wrong and it takes 20 or 30, it will still be the greatest achievement ever made by human beings.

    And If You Don’t Want to Wait…

    In the mean time, there are ways we can rejuvenate our own cells. And they don’t take a scientific breakthrough.

    Exercise causes cellular changes very similar to short pulses of Yamanaka factors. You can bet I’ll be hopping on my exercise bike in a bit.

    Yamanaka here I come!

    Wrap-Up

    I think it’s wonderful that we have a society that will give billions of dollars to a guy like Belmonte and say “Give it a shot!” Even if he fails, one of the many other teams working on longevity will surely crack the code.

    We might live much longer than we ever imagined. 120 years, 180, who knows.

    I’m here for it!

    What did you think of Belmonte’s talk?

    More on tech:

    Elon at the All-In Summit

    Small Investors Lead to Big Investors

    Climb, Crawl, Fly, Swim: Jake Loosararian at the All-In Summit

    Save Money on Stuff I Use:

    Fundrise

    This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 with great returns.

    More on Fundrise in this post.

    If you decide to invest in Fundrise, you can use this link to get $100 in free bonus shares!

    Misfits Market

    I’ve used Misfits for years, and it never disappoints! Every fruit and vegetable is organic, super fresh, and packed with flavor!

    I wrote a detailed review of Misfits here.

    Use this link to sign up and you’ll save $15 on your first order. 

  • Elon in Butler, PA

    https://youtu.be/Asoq00GQ3BA?feature=shared”

    “The true test of someone’s character is how they behave under fire.”

    Elon Musk

    Exactly 12 weeks before Elon’s speech, a deranged man shot President Trump. In the same spot in Butler, PA, Elon told us why he’s supporting Trump in his bid to return to the White House.

    “This is no ordinary election. The other side wants to take away your freedom of speech. They want to take away your right to bear arms. They want to take away your right to vote, effectively.” – Elon Musk

    Musk’s words might sound like an exaggeration. But keep in mind that Kamala Harris’ running mate, Tim Walz, has said “there’s no guarantee to free speech on misinformation or hate speech…”

    Who decides what is hate speech? And if misinformation were illegal, who decides what is true?

    Perhaps a Ministry of Truth can tell us. That’s how it worked in Orwell’s 1984.

    I thought that was just fiction. But maybe it’s about to become a reality.

    The extreme left has also tried hard to keep Trump off the ballot, denying Americans a choice in who governs us. It’s only because of the brave Supreme Court that Trump is even on the ballot in Colorado, Illinois, Maine and several other states.

    Whichever candidate we prefer, I hope we can all agree that Americans should be free to speak their mind and free to vote for who they choose. At the most basic level, that’s what America is about.

    But despite appearing at a Trump rally, most of Elon’s speech wasn’t about supporting Donald Trump. It was about making sure to vote, and making sure others do as well.

    “Be a pest to everyone you know, people on the street, everywhere.” – Elon Musk

    Although his speech lasted a mere six minutes, Elon repeated this point over and over. It’s clear how important he thinks this election is.

    “This is a must-win situation.” – Elon Musk

    Trump is clearly delighted to see Elon. He connects Elon’s success to his plans for the country:

    “We’re going to have the American dream so every kid in your family is gonna grow up and say ‘I wanna be like Elon Musk. I wanna have $200 billion in cash.’” – Donald Trump

    It makes me happy to see a candidate who celebrates success in business. Whenever Harris mentions the successful, all she ever talks about is the need for them to “pay their fair share,” whatever that is.

    It was wonderful to see President Trump return to Butler. He returned full of life, the best possible repudiation of that cowardly assassin.

    And he returned with a clear message:

    “We will make America great again!”

    Donald Trump

    What did you think of the return to Butler?

    More on the election:

    Kamala’s Extreme Agenda

    How Kamala’s Unrealized Gains Tax Will Destroy the Economy

    Vance at the All-In Summit

    Save Money on Stuff I Use:

    Fundrise

    This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 with great returns.

    More on Fundrise in this post.

    If you decide to invest in Fundrise, you can use this link to get $100 in free bonus shares!

    Misfits Market

    I’ve used Misfits for years, and it never disappoints! Every fruit and vegetable is organic, super fresh, and packed with flavor!

    I wrote a detailed review of Misfits here.

    Use this link to sign up and you’ll save $15 on your first order. 

  • Climb, Crawl, Fly, Swim: Jake Loosararian at the All-In Summit

    How do you think the Air Force inspects nuclear missile silos? A cool green laser, or maybe some infrared goggles?

    Well, until recently, they did it like this:

    “…Joe on a rope with a hammer, he was listening to the sound that the silos made when he hit it.”

    That’s Jake Loosararian, Founder & CEO of Gecko Robotics. At the All-In Summit, Jake tells the story of how Gecko Robotics went from his dorm room to managing over 500,000 pieces of infrastructure around the world.

    Founding Gecko Robotics

    Jake started building robots in his dorm room. In 2016, he founded Gecko Robotics.

    For 3 years, he bootstrapped the company. He spent every penny he had and slept on his friend’s floor to save on rent.

    Not many founders care this much about what they’re doing. When you meet one that does, you want to give him money and get out of his way!

    That’s exactly what Y Combinator did. Today, Gecko is valued at $600 million.

    Investors worried that hardware would be difficult to scale and capital intensive. But as the robots came together, they provided a moat against competition. No one else had the data those robots could provide.

    Fixing the Built World

    Gecko’s robots specialize in inspecting infrastructure. Jake’s robots crawl over oil tanks and fly under bridges, looking for defects.

    Jake’s robots can walk, climb, fly or swim anywhere. Wherever they go, they gather data.

    Then, Gecko’s software crunches those numbers to determine what maintenance is needed and when.

    Sending humans to inspect infrastructure is dangerous. This is a job best left to the bots.

    Defending America

    Some of the most exciting applications for Gecko are in defense. The military has untold billions of dollars worth of assets, many of them aging and desperately in need of maintenance.

    The procedures before Gecko were laughable.

    Men laying on skateboards inspected ships for corrosion. A man with a hammer checked our nuclear missile silos.

    How did we ever allow things to get so messed up?

    Today, Jake’s robots are inspecting these silos and ships. There will be countless more defense applications, from tanks to aircraft.

    In order to defend ourselves, our equipment has to be in ship shape. Jake’s robots are making sure we’re ready at all times.

    What Else Can These Robots Do?

    The port strike seems to be resolved — for now. But we’re vulnerable to another strike at any time. And our ports remain way behind the rest of the world, totally reliant on human labor.

    I’d love to see these robots unleashed on the ports. They could inspect infrastructure to make sure it’s working properly. Perhaps they could even move cargo.

    Jake confirms that Gecko’s robots could be used in ports, and I’m excited to see it happen!

    Wrap-Up

    As an investor, Jake is exactly the kind of founder I want to back. He cares so much about what he’s doing that he was willing to live on next to nothing for years to make it happen.

    I hope to see Gecko’s robots everywhere in the future, making sure our towns are safe and our military is ready for anything.

    What did you think of Jake’s talk?

    Have a great weekend, everybody!

    More on tech:

    How to End the Port Strike
    From $50 Million to $50 Billion: Thomas Laffont at the All-In Summit

    Talking Investment Red Flags on the Mr. Bray Labs Podcast

    Save Money on Stuff I Use:

    Fundrise

    This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 with great returns.

    More on Fundrise in this post.

    If you decide to invest in Fundrise, you can use this link to get $100 in free bonus shares!

    Misfits Market

    I’ve used Misfits for years, and it never disappoints! Every fruit and vegetable is organic, super fresh, and packed with flavor!

    I wrote a detailed review of Misfits here.

    Use this link to sign up and you’ll save $15 on your first order. 

  • How to End the Port Strike

    A Bentley driving thug with possible mafia ties is holding America hostage with a port strike. We can automate our ports within 5 years and solve this problem once and for all. Here’s how to do it…

    How Ports Work

    Today, our ports require a ton of labor.

    Humans onsite move containers (also known as TEU’s) off ships using giant gantry cranes. Cranes put the TEU’s onto trucks or trains. If they’re not ready to go yet, they stack them onsite temporarily.

    Each crane has multiple operators. Every truck has a human driver.

    At American ports, little has changed since I was a boy. But in the rest of the world, ports look very different.

    Getting to Rotterdam

    The Port of Rotterdam in the Netherlands is one of the largest ports on earth. It’s also one of the most highly automated.

    Nearly everything at the port is done by machines. Some humans are required to operate the port, but they sit comfortably in offices offsite.

    The labor savings are considerable. The port can also handle more cargo faster.

    Cost and Timeline

    It took about 5 years to automate the Port of Rotterdam.

    The project began in 2010 and was largely complete by 2015. It cost around $500 million.

    The biggest port affected by the current strike is the Port of New York and New Jersey, just a few miles from where I sit. It handles around 8 million TEU’s a year versus about 13 million at Rotterdam.

    Given its smaller size, we should be able to automate the Port of NY/NJ in under 5 years for under a billion dollars. Since other US ports are almost all smaller, we should be able to do those even faster and cheaper.

    And since the humans in automated ports are all in offices, we can just as easily hire people in Manila. This could save even more money.

    What’s more, new technologies are available today that didn’t exist in 2010. Robotics companies like Gecko Robotics could create systems to make us even more efficient than Rotterdam.

    I spoke with Founder & CEO Jake Loosararian on Twitter yesterday. He confirmed that Gecko’s robots could be used at the ports.

    These robots are incredible. Here’s a video of some of them at work:

    Busting a Thuggish Union

    But what about the union? To hell with them.

    These people make six figures and they want to hold Americans hostage for more? If they get the giant wage increases they want, the public will pay more for everything. Most people already make far less money than these dock workers.

    Ronald Reagan busted the air traffic controllers union in 1981. The situation was similar — highly paid workers controlling critical infrastructure were holding the nation hostage.

    The President should tell the dock workers to return to work within 24 hours. If they do not, their resignation is accepted.

    While we work on automating the ports, we can hire replacement workers to staff them. We can also call on our military to fill jobs as necessary.

    Wrap-Up

    No one gets to hold America hostage. Not dock workers, not anyone.

    For too long, we’ve let our ports fall behind technologically. The union is against automation, and we’ve caved every step of the way.

    No more. Throw them off the property, automate it, and solve this problem once and for all.

    What do you think of the port strike?

    More on tech:

    Elon at the All-In Summit

    How AI Will Gut Call Centers

    Request for Startups

    Save Money on Stuff I Use:

    Fundrise

    This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 with great returns.

    More on Fundrise in this post.

    If you decide to invest in Fundrise, you can use this link to get $100 in free bonus shares!

    Misfits Market

    I’ve used Misfits for years, and it never disappoints! Every fruit and vegetable is organic, super fresh, and packed with flavor!

    I wrote a detailed review of Misfits here.

    Use this link to sign up and you’ll save $15 on your first order. 

  • Talking Investment Red Flags on the Mr. Bray Labs Podcast

    I once met a founder who went into $700,000 of debt for his startup. On the Mr. Bray Labs podcast, I dug into that and other crazy stories I’ve seen in my 3.5 years investing in startups.

    Here are some of my favorite moments from the Part 2 with Jesse:

    5:23: Why a technical team is a must.

    10:22: Why I’m not interested in ‘early exits’.

    13:57: How to incorporate your startup properly.

    17:25: The biggest mistake I’ve made as an angel.

    24:30: When a founder went over $700,000 into debt for his startup.

    30:50: How new angels lose a fortune.

    38:34: The startups I want to meet.

    What are the wildest things you’ve seen in startupland?

    More on tech:

    Backing One of the World’s Fastest Growing Startups | The Mr. Bray Labs Podcast

    How I Make Sure I’m Never Late to Meet a Founder

    From $50 Million to $50 Billion: Thomas Laffont at the All-In Summit

    Save Money on Stuff I Use:

    Fundrise

    This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 with great returns.

    More on Fundrise in this post.

    If you decide to invest in Fundrise, you can use this link to get $100 in free bonus shares!

    Misfits Market

    I’ve used Misfits for years, and it never disappoints! Every fruit and vegetable is organic, super fresh, and packed with flavor!

    I wrote a detailed review of Misfits here.

    Use this link to sign up and you’ll save $15 on your first order. 

  • The Hollywood Superagent: Michael Ovitz at the All-In Summit

    “One doesn’t get to a place of success without having made mistakes.”

    That’s CAA founder Michael Ovitz at the All-In Summit. In a conversation with the besties, Ovitz tells us how he built CAA from nothing and where Hollywood goes in the era of AI.

    A Man Who Spots Opportunities

    What struck me most about Ovitz is how good he is at spotting opportunities.

    Ovitz was a poor kid who got his first job in the mailroom at William Morris, the preeminent talent agency of his day. He quickly moved up the ranks, and left to start his own agency in 1975.

    Creative Artists Agency (CAA) was a new type of agency. It didn’t just represent clients. CAA put together teams of people to create movies and TV shows together.

    It’s called “packaging,” and Ovitz invented it. Ovitz could sell you everyone you need to make a film, all at once.

    This gave Ovitz and his clients extraordinary leverage. Either take the whole package at the price Ovitz said, or nothing.

    But Ovitz didn’t just spot opportunities in Hollywood. In 1992, he began to visit Silicon Valley.

    Who in LA cared about Silicon Valley in ’92? Practically nobody. But Ovitz could see where the future was headed.

    He helped create Tele-TV, an interactive television service, in 1995. It was basically Netflix, 10 years too early. It didn’t make it, but you have to admire how innovative it was.

    Will AI Put Hollywood Out of Work?

    “250,000 people in Los Angeles make their living in the media business. They are all afraid of one thing, and that’s are they going to have a job…”

    AI tools can create realistic videos of anything you want in seconds. With tools like that, is there still a place for humans in entertainment?

    Ovitz thinks that AI could replace some technical tasks, but not the human’s creative vision. I agree with him there.

    I think AI could replace some people, like extras or CGI designers. I’ve done some extra work myself as a hobby, and I doubt that job will exist in 10 years.

    But I don’t think AI will ever completely replace humans in entertainment.

    Give me an AI tool that can generate any video, and I’ll still never come up with The Sopranos. I just don’t have any ideas that good!

    What AI will do is lower the cost of making a movie or TV show. That will result in more content.

    But we still need humans to tell the AI tools what to make.

    Wrap-Up

    Even though entertainment isn’t my main profession, I find Ovitz fascinating. He’s a guy who came from nothing to completely take over an industry. And even today, you can tell he’s still excited to go to work.

    I’m looking forward to reading his autobiograhy, Who Is Michael Ovitz? Regardless of the business we’re in, we can all learn something from this special man.

    What did you think of Ovitz’s talk?

    More from the All-In Summit:

    Elon at the All-In Summit

    Ukraine, China and the Deep State: Mearsheimer and Sachs at the All-In Summit

    From $50 Million to $50 Billion: Thomas Laffont at the All-In Summit

    Save Money on Stuff I Use:

    Fundrise

    This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 with great returns.

    More on Fundrise in this post.

    If you decide to invest in Fundrise, you can use this link to get $100 in free bonus shares!

    Misfits Market

    I’ve used Misfits for years, and it never disappoints! Every fruit and vegetable is organic, super fresh, and packed with flavor!

    I wrote a detailed review of Misfits here.

    Use this link to sign up and you’ll save $15 on your first order. 

  • From $50 Million to $50 Billion: Thomas Laffont at the All-In Summit

    He started with $50 million. Today, Thomas Laffont manages $50 billion.

    At the All-In Summit, the Coatue Management co-founder explains what has gone wrong in the venture market and how we get back on track.

    Fake Unicorns

    There are 1,440 private tech companies valued at over $1 billion. This is by far the most ever.

    In 2019, there were only 470.

    A majority of all tech companies valued above $1 billion are private.

    The thing is, most of those valuations are fake. A huge percentage of them were priced by a single firm, Tiger Global Management.

    I saw Tiger in deals in 2021. They ripped $100 million checks into anything and everything.

    Most of those companies will never exit above $1 billion.

    No Exit

    Laffont gives a great overview of the three ways unicorns exit. All three are blocked:

    1) IPO’s. 2022-4 has seen the fewest tech IPO’s since the mid 90’s — even fewer than in the financial crisis.
    2) M&A. Most significant M&A is blocked by the FTC.
    3) PE. High interest rates have meant that few PE buyouts are happening. After all, those buyouts are funded by debt.

    This means that VC’s are holding companies twice as long as before COVID. That cuts their return in half.

    LP’s are running out of money to invest in new funds. They’re still waiting to get their money back from the old fund!

    Over time, this will depress innovation. There will be less capital available to startups.

    The nonexistent exit market is why we need to get rid of Lina Khan ASAP. Whoever wins the election must fire her immediately.

    This is one problem we can fix with the stroke of a pen. We need M&A so that people can afford to keep creating new technology!

    What’s the Solution?

    Laffont’s solution to the problems in the venture market is simple: going public.

    Going public cleans up the cap table, ensures proper governance, and finds the right price for the company. And for all the talk of the IPO window being closed, the reality is that no one can stop you from going public.

    Laffont highlights some amazing companies that could go public soon: SpaceX, Shein, Wiz and more. These are some of the greatest companies of all time, and public investors will clamor to own them.

    I’d like to see a return to the 90’s….go public after maybe 5-7 years and let the chips fall where they may. Everyone gets liquidity, you find out the right price for the company, and then you prove yourself to the market.

    This discipline helped Zuck enormously. If Facebook were private, would he have gotten that company efficient?

    I doubt it. And if it works for Zuck, it can work for you!

    Wrap-Up

    You can tell Laffont’s experience in this talk. He sees the entire market clearly and can assess all the problems and solutions. That’s what 25 years of experience looks like!

    I hope we see more rational valuations, no matter how exciting AI is. And let’s man up and get these companies public.

    The markets are there. What are we afraid of?

    What did you think of Laffont’s talk?

    More on tech:
    Elon at the All-In Summit

    How I Make Sure I’m Never Late to Meet a Founder

    Backing One of the World’s Fastest Growing Startups | The Mr. Bray Labs Podcast

    Save Money on Stuff I Use:

    Fundrise

    This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 with great returns.

    More on Fundrise in this post.

    If you decide to invest in Fundrise, you can use this link to get $100 in free bonus shares!

    Misfits Market

    I’ve used Misfits for years, and it never disappoints! Every fruit and vegetable is organic, super fresh, and packed with flavor!

    I wrote a detailed review of Misfits here.

    Use this link to sign up and you’ll save $15 on your first order. 

  • How I Make Sure I’m Never Late to Meet a Founder

    If you’ve ever met with me, chances are I was on time. Today, I thought I’d share the little trick I use to ensure I’m never late.

    I fine myself $10 for every minute I’m late. Being late costs me $600 an hour.

    Telling myself “Don’t be late!” is one thing. Putting an actual price on it is quite another.

    To be sure I make it on time, I usually dial into the meeting 2 minutes early. Then there’s time for software slowness (I’m looking at you, Microsoft Teams).

    Where I Stole the Idea From

    I got this idea from Ben Horowitz at a16z. In his excellent book The Hard Thing About Hard Things, he mentions that at a16z, the partners are fined $10 for every minute they’re late to a founder meeting.

    Hey, maybe I’m not an a16z partner. But my attitude is that if I don’t learn how to do this job properly on a small scale now, I won’t know what to do in the future either.

    We are what we practice.

    Showing Respect

    Why is it so important to me to show up on time? It comes down to showing respect for the founders I meet with.

    I’ve heard a lot of horror stories about VC’s making founders wait for 30 minutes or longer. The VC acts like a king and treats the founder like a poor supplicant.

    Startup founders are some of the busiest people in the world. They don’t have time to sit around waiting for me to show up.

    When someone is on time to meet you, they’re showing respect for you and your time. That’s something I want to communicate each and every day.

    What Happens to the Money?

    So if I’m fining myself, where does the money go?

    I find a homeless person on the street and give it to them. So far, I’ve only paid out $10. I was late to a meeting with a great SaaS founder — sorry about that Anastasiia!

    I like that at least somebody benefits from my mistake. Although at this rate, I probably ought to just start making some donations.

    Wrap-Up

    It’s amazing how little tricks can help us modify our behavior. I’ve found that putting a price on tardiness works great for me.

    Give it a try — I bet you’ll find yourself magically on time for everything!

    Have a great weekend, everybody!

    More from the blog:

    Small Investors Lead to Big Investors

    Elon at the All-In Summit

    Backing One of the World’s Fastest Growing Startups | The Mr. Bray Labs Podcast

    Save Money on Stuff I Use:

    Fundrise

    This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 with great returns.

    More on Fundrise in this post.

    If you decide to invest in Fundrise, you can use this link to get $100 in free bonus shares!

    Misfits Market

    I’ve used Misfits for years, and it never disappoints! Every fruit and vegetable is organic, super fresh, and packed with flavor!

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  • How We Get to Mars: Woody Hoburg at the All-In Summit

    Halloween of 2000 was the last time all humans were on earth. Since then, astronauts have occupied the International Space Station (ISS) at all times. In a fascinating talk at the All-In Summit, astronaut Woody Hoburg tells us about life and space and how we’ll get to Mars.

    Life in Space

    Hoburg spent 185 days in space. It’s so hard to imagine being weightless, floating in the black, for over 6 months!

    Due to its speed of orbit, astronauts see 16 sunrises and sunsets every day on the ISS. But there isn’t much time to enjoy the view.

    They’re busy with science experiments and ship maintenance. They also have to do 2.5 hours a day of exercise, split evenly between cardio and strength training. This helps them avoid losing muscle in the weightlessness of space.

    Hoburg passed the time listening to lots of podcasts and music. It’s funny to imagine astronauts doing the same things we do in such a radically different environment!

    Preventing Human Extinction

    I love seeing astronauts up in space. It is truly the final frontier for us humans.

    But space exploration isn’t just exciting. It’s the key to ensuring humans do not go extinct.

    Even if a nuclear war killed all humans on earth, there would still be humans in space.

    Right now, those humans would starve to death without regular resupply from earth. But if we created self-sustaining colonies on the ISS, the moon, or Mars, humanity could survive and rebuild.

    Getting to Mars

    The ISS is awesome, but NASA isn’t stopping there. NASA plans to return astronauts to the moon in 2026.

    I cannot wait to watch this on YouTube! I’m too young to have seen the original moon landing, and I imagine many of you are as well.

    This is our generation’s chance to see it!

    After the moon, NASA plans to go to Mars. The moon will provide a crucial testing ground for the technologies that will get us to the red planet.

    “We see the moon as our path to Mars, and that is absolutely our strategy.”

    Woody Hoburg

    Wrap-Up

    This was fun to write! I don’t know about you, but astronauts bring out my childlike enthusiasm. It’s exciting!

    Imagine the world 20 years from now, in 2044. There could be self-sustaining human colonies on the moon and Mars.

    When you look up at the night sky, you will be able to imagine them there. On that day, we will also know that humans will survive, no matter what.

    Congrats to Hoburg on his incredible mission!

    “It was, like, the thrill of a lifetime to spend 6 months living and working in space, but there’s also just nothing like returning home to the people you love.”

    Woody Hoburg

    More from the All-In Summit:

    Elon at the All-In Summit

    Ukraine, China and the Deep State: Mearsheimer and Sachs at the All-In Summit

    Two Million Miles Without a Fatality: Waymo’s CEO at the All-In Summit

    Save Money on Stuff I Use:

    Fundrise

    This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 with great returns.

    More on Fundrise in this post.

    If you decide to invest in Fundrise, you can use this link to get $100 in free bonus shares!

    Misfits Market

    I’ve used Misfits for years, and it never disappoints! Every fruit and vegetable is organic, super fresh, and packed with flavor!

    I wrote a detailed review of Misfits here.

    Use this link to sign up and you’ll save $15 on your first order.