I was at dinner with my friend Stephen a month or so ago and he was bending my ear about a provision in last year’s tax bill that provides very significant tax incentives to invest in businesses or real estate in certain locations around the US that have been underinvested in.
It all sounded way to good to be true and I kind of ignored him. This sort of thing has been part of so many economic development plans over the years that it sounded like more of the same to me.
We had dinner again last week and he started in again, but this time we were with some other friends and they chimed in.
It turns out the tax incentives are as generous as my friend said and what seemed to me to be too good to be true is in fact true.
When my life gets crazy, which it is right now, it helps me to internalize what is most important and triage around that.
And I’m not just talking about what tasks to do and what not to do.
I’m also talking about prioritizing friends and family, exercise, eating right, communicating, and all the things that at one time or another in my life I have let slide in favor of work.
The triage is visible to people, of course, and saying no can be challenging.
I saw some friends last night and they invited me to a thing they are doing in a couple weeks. They said “would you like to come?” I said “No”. My friend said, “do you mean you can’t?” And I said “I just mean I won’t.” He got a chuckle out of it but when I’m in triage mode, I can be
I am not reading Bad Blood, the book about Theranos, but many of my friends and colleagues are.
One of the many “tells” that Theranos was not a good company was the board chock full of trophy board members.
A “trophy” board member is someone with a big name who, in theory, brings credibility and connections to your company. They are often out of the world of politics, or a Fortune 500 CEO job, or Wall Street.
I dislike trophy board members and advise our portfolio companies to avoid them. But they don’t always take our advice.
One good example is Lending Club, a very good company run by a very good entrepreneur, who got thrown under the bus, in my view, by his trophy board.
USV is an investor in that entrepreneur’s new company which says all you need to know about where we come out on that one.
Web 3 is the next generation of the web in which decentralized apps (dApps) operate on top of a shared data layer and users have control of their data and the ability to move between dApps with little to no switching costs.
Think about the way domains and email addresses work. We (individuals and/or companies) own these identifying data elements and we can provision them in any app we want (I provision my email addresses in gmail and my domains in wordpress but I could choose many other options). In Web 3, this is how all of our data will work.
But we have a long way to go to get there. The infrastructure for Web 3 is immature and at least a few years away from being mature and stable enough to build mission-critical dApps on. We can see glimpses of Web 3 in games and collectibles, where the stakes are
My son told me he wanted to learn Japanese. I told him to check out our portfolio company Duolingo‘s awesome language learning product of the same name.
He told me that he has used Duolingo and likes it, particularly the ability to generate streaks. He told me that once you have a streak going, you really want to keep it going and that keeps you at the language learning exercises that are the heart of Duolingo.
Yesterday, I kicked off my weekly game of Swarm (from our portfolio company Foursquare) with some big point generating check-ins. My daughter, who I play the game each week with (among others) also had a quick start.
I texted her and she texted me back:
Streaks are a terrific game mechanic and can be used to motivate user behavior.
I am excited by the potential of cryptocurrencies and cryptogoods to change, and hopefully improve, the way we raise funds for charity.
Cryptogoods are particularly interesting as they are scarce and unique digital goods.
AVC community member Arnold Waldstein tipped me off to a really good example of this:
Little Honu (Hawaiian for turtle) is part kitten, part sea turtle. Honu is the first of a lineage of CryptoKittens ‘hatched’ to both raise funds and be ambassadors for their causes and to be bought, sold, and bred within the game itself.
What is particularly galling about this place we all find ourselves in is that none of us chose to be customers of these credit bureaus. They simply collected the info on us from third parties, built up credit info on us, which they sell to banks and other lenders, and now, because they are unable to protect our data, we need to be customers of their lock and lift services.
TransUnion charged me $5 today to put a temporary lift on my credit report lock. It’s not really the money that bugs me, it’s the entire absurdity of how we got here that galls me.
Last night I picked up my phone after a long and fun dinner party and saw that the Golden State Warriors had signed Boogie Cousins (one of the most talented big men in the NBA) to a one year mid level contract of $5.3mm, an incredibly low number for a perennial all-star. Granted Boogie is coming off an achilles injury and won’t be available until mid season, but it just felt like the best getting better at the expense of every other team in the league. It annoys me.
Kind of like seeing a company renting electric scooters by the minute raising $400mm in a month when you can’t get anyone to put a dime into your company.
I’m not suggesting that the electric scooter companies should be dismissed. I don’t have a point of view on them other than as a user and I posted that here this
This seems right to me: “In post-industrial environments where foods are abundant and readily available, our cravings for fat and sugar sculpted by distant evolutionary pressures can easily go into insatiable overdrive and lead to obesity, diabetes, and heart disease (…) the pro-social needs and rewards [of smartphone use as a means to connect] can similarly be hijacked to produce a manic theatre of hyper-social monitoring,”