Day: July 1, 2022

Executive Director, The Garage – Northwestern University

Northwestern University seeks a dynamic and visionary Executive Director to drive an exciting next chapter for The Garage, putting bold ideas into action and fostering the evolution of student entrepreneurship on campus. Strategically positioned under the umbrella of the Provost’s Office, the next Executive Director will bolster The Garage as an intellectual nexus within Northwestern for holistic interdisciplinary student experiences and education. The Garage’s focus is on equipping and inspiring billion-dollar people, not necessarily billion-dollar companies.

The next leader will inherit a driven team of 6, a strong operational foundation, and extensive network for raising funds to underwrite ongoing and new programs. With a strong mandate to uphold the quality of each student’s learning experience and enhance organizational innovation, the successful candidate will create a plan for continued programmatic development and financial support. This individual will develop short- and long-term goals and metrics for The Garage’s next chapter. By embracing emerging trends and innovation around entrepreneurship, workforce, and technology, the definition of success for The Garage lies in its ability to develop critical thinkers and inspire young entrepreneurs. Through engagement with the broader Chicago entrepreneurship ecosystem, alums of The Garage and Northwestern broadly, and thought leaders in entrepreneurship education, The Garage will continue to provide a distinctive and inspiring experience for students while enhancing and amplifying its external reputation.

The Garage at Northwestern University is an interdisciplinary innovation and entrepreneurship space and community for Northwestern students. Since its inception in 2015, The Garage has offered (Read more...)

Risk Capital and Markets: A Temporary Retreat or Long Term Pull Back?

As inflation has taken center stage, markets have gone into retreat globally, and across asset classes. In 2022, as bond rates have risen, stock prices have fallen, and crypto has imploded, even true believers are questioning what the bottom for markets might be, and when we will get there. While it is easy to call the market movement in 2022 a correction and to argue that it is overdue, it is facile, and it fails to address the question of why it is happening now, and whether the correction is overdone or has more to go. In this post, I will argue that almost everything that we are observing in markets, across asset classes, can be explained by a pull back on risk capital, and that understanding the magnitude of the pull back, and putting in historical perspective, is key to gauging what is coming next.

Risk Capital: What is it?

To put risk capital in perspective, it is best to start with a definition of risk that is comprehensive and all-inclusive, and that is to think of risk as a combination of danger (downside) and opportunity (upside) and to consider how investments vary in terms of exposure to both. In every asset class, there is a range of investment choices, with some being safer (or even guaranteed) and others being riskier.

Risk capital is the portion of capital that is invested in the riskiest segments of each market and safety capital is that portion that finds its way to (Read more...)

A Logarithmic Map of the Entire Observable Universe

This post is by Carmen Ang from Visual Capitalist

Logarithmic map of the Observable Universe

For a full-size option or to inquire about posters, please visit Pablo Carlos Budassi’s website.

A Logarithmic Map of the Entire Observable Universe

Among the scientific community, it’s widely believed that so far humans have only discovered about 5% of the universe.

Yet, despite knowing about just a fraction of what’s out there, we’ve still managed to discover galaxies billions of light-years away from Earth.

This graphic by Pablo Carlos Budassi provides a logarithmic map of the entire known universe, using data by researchers at Princeton University and updated as of May 2022.

How Does the Map Work?

Before diving in, it’s worth touching on a few key details about the map.

First off, it’s important to note that the celestial objects shown on this map are not shown to scale. If it was made to scale with sizes relative to how we see them from Earth, nearly all of the objects would be miniscule dots (except the Moon, the Sun, and some nebulae and galaxies).

Secondly, each object’s distance from the Earth is measured on a logarithmic scale, which increases exponentially, in order to fit in all the data.

Within our Solar System, the map’s scale spans astronomical units (AU), roughly the distance from the Earth to the Sun. Beyond, it grows to measure millions of parsecs, with each one of those equal to 3.26 light-years, or 206,000 AU.

Exploring the Map

The map highlights a number of different celestial objects, including:

Valuation Compression…The Opportunity

This post is by Howard Lindzon from Howard Lindzon

Hello July.

Good riddance to the first half of 2022.

It was the worst first half of the year for the S&P since 1970.

Our supreme court celebrated the first half of the year by taking us back pre 1970 with Roe vs. Wade.

I guess the good news is we all can shoot our robo advisors with AR-15’s and claim mental anguish to avoid punishment.

My gut is a lot more valuation compression lies ahead for us.

With high inflation and rising interest rates come valuation compression. Sure rates and inflation can reverse, but people and therefore markets, have recency bias so we will not get to the heights of 2021 even if a financial miracle were to happen.

There is not much I can do as valuations compress in the public markets.

In the seed stage markets I am looking for teams and ideas that can get started in this era of valuation compression with all this in mind.

I said this on Twitter yesterday which started a lot of conversations:

Smaller teams, engineering light, unique wedges and plans to get to revenue/even profitability fast (capital efficiency) and a valuation that allows for optionality along the way.

As valuations compress it is most important that founders and investors honor the power of momentum by holding it close. That means lower valuations early so that there is more optionality as the company builds momentum and more optionality if momentum is slow to take hold. I believe it is (Read more...)

Things could always be worse…

No connection to any to any of our ongoing threads, but if you're interested in sketch comedy, you really need to see this series from That Mitchell and Webb Look. I'm at a loss for something else like it.

You can find find darker sketches (though "mummy won't wake up" does set the bar rather high), but few where the characters in the increasingly horrifying situations are so sympathetic. In that way, they remind me a bit of the Carol Burnett Show's Eunice sketches, which grew remarkably cruel toward the end, but those were long form pieces that could alternate between comedy and drama (and eventually go purely with the latter). The Quiz Broadcast is an exercise in world-building in 3-minute bites, and one that's become a bit more relevant recently.

Starting with agreement

This post is by Seth Godin from Seth's Blog

Resilient systems are better than fragile ones.

Leave the campsite better than you found it.

Clean air is better than dirty air.

It’s more reliable to invest in things that produce positive impacts over time.

When the numbers add up, believe them

People who show their work are more likely to be right.

Important work is better done now, not later.

Talking about our problems makes the solutions more robust.

It’s better to make up your mind after you see the data, not before.

If we begin with what we agree on, it’s easier to move forward.

Of course, there’s always this alternative: