Month: December 2017

152. Cram Session, Episodes 96-103 (Nick Moran)



Welcome back to TFR for another Cram Session. In these special releases, we have aggregated the takeaways and tips from previous episodes. In this installment, we will be recapping the following episodes:

  • 96. Student-Focused VC Funds, Part 1 (Peter Boyce II)
  • 97. Student-Focused VC Funds, Part 2 (Peter Boyce II)
  • 98. Public Policy for Angel Investors, Part 1 (David Verrill)
  • 99. Public Policy for Angel Investors, Part 2 (David Verrill)
  • 102. The Limited Partner, Part 1 (Lindel Eakman)
  • 103. The Limited Partner, Part 2 (Lindel Eakman)

To listen more, please visit http://fullratchet.net/podcast-episodes/ for all of our other episodes.

Also, follow us on twitter  for updates and more information.

152. Cram Session, Episodes 96-103 (Nick Moran)



Welcome back to TFR for another Cram Session. In these special releases, we have aggregated the takeaways and tips from previous episodes. In this installment, we will be recapping the following episodes:

  • 96. Student-Focused VC Funds, Part 1 (Peter Boyce II)
  • 97. Student-Focused VC Funds, Part 2 (Peter Boyce II)
  • 98. Public Policy for Angel Investors, Part 1 (David Verrill)
  • 99. Public Policy for Angel Investors, Part 2 (David Verrill)
  • 102. The Limited Partner, Part 1 (Lindel Eakman)
  • 103. The Limited Partner, Part 2 (Lindel Eakman)

To listen more, please visit http://fullratchet.net/podcast-episodes/ for all of our other episodes.

Also, follow us on twitter  for updates and more information.

Investor Stories 75: Lessons Learned (Buttrick, Shah, Paley)



On this special segment of The Full Ratchet, the following Investors are featured:

  • John Buttrick
  • Semil Shah
  • Eric Paley

Each investor illustrates a critical lesson learned about startup investing and how it's changed their approach.

 

To listen more, please visit http://fullratchet.net/podcast-episodes/ for all of our other episodes.

Also, follow us on twitter  for updates and more information.

Investor Stories 75: Lessons Learned (Buttrick, Shah, Paley)



On this special segment of The Full Ratchet, the following Investors are featured:

  • John Buttrick
  • Semil Shah
  • Eric Paley

Each investor illustrates a critical lesson learned about startup investing and how it's changed their approach.

 

To listen more, please visit http://fullratchet.net/podcast-episodes/ for all of our other episodes.

Also, follow us on twitter  for updates and more information.

A Clarification


This post is by Sam Altman from Sam Altman


I made a point in this post inelegantly in a way that was easy to misunderstand, so I’d like to clarify it.

I didn’t mean that we need to tolerate brilliant homophobic jerks in the lab so that we can have scientific progress.  Although there are famous counterexamples, most of the best scientists I’ve met are unusually nice, open-minded people.  Generally I expect that labs that don’t tolerate jerks will produce more impressive results than the ones that do, and choosing not to employ jerks is a good idea—jerks usually reduce the net output of organizations.

What I meant is simply that we need, as a society, to tolerate controversial ideas.  The biggest new scientific ideas, and the most important changes to society, both start as extremely unpopular ideas.

It was literally heretical, not so long ago, to say that it was ok to be gay—the Bible has a different viewpoint.  In a society where we don’t allow challenges to the orthodoxy, gay rights would not have happened.

We need to allow free speech because sometimes society is wrong—we needed people to be able to say “gay people are ok” at a time when “gay people are evil” was the consensus opinion.

It’s probably impossible to design a simple set of rules that will always allow the right speech and not the wrong speech (although I am sure that in this particular case, it is wrong that gay people in some places still fear for their safety.) 

So we agree (Read more...)

A Clarification


This post is by Sam Altman from Sam Altman


I made a point in this post inelegantly in a way that was easy to misunderstand, so I’d like to clarify it.

I didn’t mean that we need to tolerate brilliant homophobic jerks in the lab so that we can have scientific progress.  Although there are famous counterexamples, most of the best scientists I’ve met are unusually nice, open-minded people.  Generally I expect that labs that don’t tolerate jerks will produce more impressive results than the ones that do, and choosing not to employ jerks is a good idea—jerks usually reduce the net output of organizations.

What I meant is simply that we need, as a society, to tolerate controversial ideas.  The biggest new scientific ideas, and the most important changes to society, both start as extremely unpopular ideas.

It was literally heretical, not so long ago, to say that it was ok to be gay—the Bible has a different viewpoint.  In a society where we don’t allow challenges to the orthodoxy, gay rights would not have happened.

We need to allow free speech because sometimes society is wrong—we needed people to be able to say “gay people are ok” at a time when “gay people are evil” was the consensus opinion.

It’s probably impossible to design a simple set of rules that will always allow the right speech and not the wrong speech (although I am sure that in this particular case, it is wrong that gay people in some places still fear for their safety.) 

So we agree (Read more...)

A Clarification


This post is by Sam Altman from Sam Altman


I made a point in this post inelegantly in a way that was easy to misunderstand, so I’d like to clarify it.

I didn’t mean that we need to tolerate brilliant homophobic jerks in the lab so that we can have scientific progress.  Although there are famous counterexamples, most of the best scientists I’ve met are unusually nice, open-minded people.  Generally I expect that labs that don’t tolerate jerks will produce more impressive results than the ones that do, and choosing not to employ jerks is a good idea—jerks usually reduce the net output of organizations.

What I meant is simply that we need, as a society, to tolerate controversial ideas.  The biggest new scientific ideas, and the most important changes to society, both start as extremely unpopular ideas.

It was literally heretical, not so long ago, to say that it was ok to be gay—the Bible has a different viewpoint.  In a society where we don’t allow challenges to the orthodoxy, gay rights would not have happened.

We need to allow free speech because sometimes society is wrong—we needed people to be able to say “gay people are ok” at a time when “gay people are evil” was the consensus opinion.

It’s probably impossible to design a simple set of rules that will always allow the right speech and not the wrong speech (although I am sure that in this particular case, it is wrong that gay people in some places still fear for their safety.) 

So we agree (Read more...)

E Pur Si Muove


This post is by Sam Altman from Sam Altman


Earlier this year, I noticed something in China that really surprised me.  I realized I felt more comfortable discussing controversial ideas in Beijing than in San Francisco.  I didn’t feel completely comfortable—this was China, after all—just more comfortable than at home.

That showed me just how bad things have become, and how much things have changed since I first got started here in 2005.

It seems easier to accidentally speak heresies in San Francisco every year.  Debating a controversial idea, even if you 95% agree with the consensus side, seems ill-advised.

This will be very bad for startups in the Bay Area.

Restricting speech leads to restricting ideas and therefore restricted innovation—the most successful societies have generally been the most open ones.  Usually mainstream ideas are right and heterodox ideas are wrong, but the true and unpopular ideas are what drive the world forward.  Also, smart people tend to have an allergic reaction to the restriction of ideas, and I’m now seeing many of the smartest people I know move elsewhere.

It is bad for all of us when people can’t say that the world is a sphere, that evolution is real, or that the sun is at the center of the solar system.

More recently, I’ve seen credible people working on ideas like pharmaceuticals for intelligence augmentation, genetic engineering, and radical life extension leave San Francisco because they found the reaction to their work to be so toxic.  “If people live a lot longer it will be disastrous for (Read more...)

E Pur Si Muove


This post is by Sam Altman from Sam Altman


Earlier this year, I noticed something in China that really surprised me.  I realized I felt more comfortable discussing controversial ideas in Beijing than in San Francisco.  I didn’t feel completely comfortable—this was China, after all—just more comfortable than at home.

That showed me just how bad things have become, and how much things have changed since I first got started here in 2005.

It seems easier to accidentally speak heresies in San Francisco every year.  Debating a controversial idea, even if you 95% agree with the consensus side, seems ill-advised.

This will be very bad for startups in the Bay Area.

Restricting speech leads to restricting ideas and therefore restricted innovation—the most successful societies have generally been the most open ones.  Usually mainstream ideas are right and heterodox ideas are wrong, but the true and unpopular ideas are what drive the world forward.  Also, smart people tend to have an allergic reaction to the restriction of ideas, and I’m now seeing many of the smartest people I know move elsewhere.

It is bad for all of us when people can’t say that the world is a sphere, that evolution is real, or that the sun is at the center of the solar system.

More recently, I’ve seen credible people working on ideas like pharmaceuticals for intelligence augmentation, genetic engineering, and radical life extension leave San Francisco because they found the reaction to their work to be so toxic.  “If people live a lot longer it will be disastrous for (Read more...)

151. Kingmaking, De-Risking Every Investment & the Future of Real Estate Tech (Brendan Wallace)



Brendan Wallace of Fifth Wall Ventures joins Nick to discuss Kingmaking, De-Risking Every Investment & the Future of Real Estate Tech.  In this episode, we cover:

  • how building a fund is different from a startup
  • why fifth wall invests in real estate tech
  • why they take a different approach to workign with LPs and portcos
  • how large corporate LPs get comfortable with threatening tech that can destroy existing asset value
  • Brendan gives an overview of the real estate tech landscape and how it's segmented
  • why he thinks no other funds are focused on this sector the common demoniator he looks for in startups
  • the concept of the built world and how tech will bridge the gap between physical and digital
  • the most disruptive ideas he's come across in real estate
  • how the hot trends like AI, AV, robotics and VR/AR will effect the sector
  • and finally, what's surprised him most since raising fifth wall fund 1

 

To listen more, please visit http://fullratchet.net/podcast-episodes/ for all of our other episodes.

Also, follow us on twitter  for updates and more information.