Week 41
2 min read

Week 41

Hi Readers,

Thanks to everyone who filled out the survey last time. I'll share some of the interesting responses.

We have 0% product market fit

About 70% of people would be "Somewhat disappointed to see this go", and 30% would be "Not disappointed."

You value interesting insights, productivity tips

Links to high quality thoughtful content were also mentioned.

How to improve this

Almost universally people wanted deeper analyses. Some of you mentioned later that you would like to read blog posts. In terms of more analysis, it's an easy switch to make, the danger is that unless the newsletter would fill a more precise "niche", this ultimately won't lead to product market fit.

Different formats

60% of you mentioned blog posts, 40% of you mentioned video or podcasts and 20% mentioned Instagram. I feel mixed about blog posts - it's really hard to make good content there and hard to market it. I'm really intrigued by the higher-end formats, however, so will be doing an experiment soon. Stay tuned.

In summary:
- more original content & opinions
- deeper formats
- still long way to go for PMF

Thanks again for the responses, these are very helpful.

🐬 Start-ups

The path to $20 M by Joel Gascoigne where he talks about the road to hitting that milestone for Buffer, the need for SaaS Founders to "strap in". I personally have a 20-year horizon in mind and think this is one of the biggest advantages you can still have as a Founder.

Early stage Founders shouldn't focus on late-stage metrics comments Michael Seibel.

Moats compiled by Jerry Neumann.

Can tech die?

Credit Suisse research on estimating TAM. I'd like to move this into a principle of its own.

Why product innovation slows after Series A by Tom Tungusz.

🤔 Mindset

"Don't settle and don't struggle" says Naval. This actually corresponds well to my tenure at McKinsey where initially I had to push a lot to perform well (don't settle) and then equally work on clawing back working hours to have a better work-life balance (don't struggle). Both are crucial for peak performance.

Riva Tez hates on stoicism in this thread. It's a good debate, but I disagree. The sad thing about this thread is that the anti-stoics both 1) introduce an intentionally extreme version of stoicism 2) exclude all successful stoics from being stoics... 2) making an axiomatic assumption that life needs to have bigger meaning.

I agree with Arjun Balaji that stoicism is actually a superpower and is compatible with other systems of meaning. There is really no defending of excessive consumption, greed, etc. even though we all have it.

📈 Investing

Justin Kan's secrets of Angel investing. I'm forming a whole sequence of thoughts around venture investing and different forms of it. The short version is quite pessimistic. Access to reasonably valued deals is limited for all but 1) the best Angel's 2) the best VC funds 3) the best syndicates. Syndicates probably offer the best way to invest in venture right now to someone who isn't uber-rich/uber-connected.

Alcohol replacement as an asset class.

With Otis launches providing alternative investments in culture capital.

🎮 Gaming

FFVII is being remade. If the MCU and Star Wars haven't convinced you that the true shelf life of a successful media property is extending, this should.

💸 Crypto

Facebook Coin's launch partner's revealed by The Block. A centralized company trying to build a decentralized process is an exciting one to watch.