Happy Sunday,
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Check out the first two episodes of the Stretch Four Podcast. Episode 1 & Episode 2. Thanks to all who tuned in!
Let’s get to this week’s newsletter.
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Recapping January with Future
I use the Future app to get the above two primary reports every day. One tracks my all-time usage of the app and the other my last 30 days. This helps me track my training progress, view my monthly activity and receive updates from my trainer. I'm currently training for a half marathon, so my goal is to increase endurance and lose weight. If you're looking to start 2023 with a fitness focus, a personal trainer from Future can help you get off to a good start. The first three months are 50% off.
Quote of the Week:
“Never let people forget that you are untouchable.” - Hanif Abdurraqib
Chart of the Week:
This week layoffs were announced not only in the technology sector but also in companies like FedEx. The above chart illustrates the productivity of S&P 500 companies since 1990. It is remarkable to observe the influence of technology, both in the number of technology companies included in the S&P 500 and in the jobs that technology has made obsolete.
Tweet of the Week:
Amidst the horror stories in the startup ecosystem right now it is always important to prioritize customers and revenue. This tweet echoes that sentiment.
Health & Performance
I enjoyed this week's episode of The Exam Room. My most important takeaway was the question asked about why humans have color vision, whereas cats do not. The answer was that we are specifically designed to detect antioxidants. Our senses are designed to see the full spectrum of colors, as it is part of how we were created to identify edible items.
Personal Finance
Chad Johnson went viral when he appeared on Shannon Sharpe's podcast, sharing that he buys fake jewelry, flies Spirit Airlines, and considers himself the cheapest celebrity athlete and former pro athlete. The internet is still trying to prove the validity of his statements (Chad then tweeted a picture of him traveling with Goyard's luggage, causing an uproar), but it shed light on his frugality.
My take:
Frugality is having a significant effect on many technology founders and their businesses currently. Raising funds for startups has become challenging, sales are more difficult to acquire, and secondary rounds are scarce for later-stage companies. The glamour of the past two years is coming to an end, and this kind of frugality has numerous implications. The only place to spend money now is on things that will bring value to your company — the tweet below succinctly outlines where money and expenses should be directed for founders who are selling to businesses.
Founder Reads
Venture Capital Isn’t the Problem—It’s Venture Capitalists (The Information)
Thrive Capital Said to Lead Potential Investment in Stripe (New York Times)
Announcing Moov’s $45M Series B funding (Moov Website)
VC funding to Black web3 founders popped last year, bucking trends (Techcrunch+)
Other Learnings
This tweet was a refreshing change in the current venture capital startup environment focused on AI. I recall interviewing Dennis Mortensen about his Amy.ai AI assistant a while ago when I was running my now-defunct startup GradX. It was ahead of its time, but it was the first real use case for AI that I had seen become a reality. Interviewing Dennis six years ago was an eye-opening experience. Check out that interview below.
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Final Thoughts
Last week I mentioned a talk I am doing here in San Francisco. The event is hosted by Finix which is a big partner to the CapTable Coalition. If you’re in SF, I would love for you to come out for the discussion on a highly critical area within the venture and technology ecosystem. Makes sure to register for the event that takes place this Friday, February 10th at 5:00 pm.
Back to the trenches.
Best, Matt