4th of July Special: Insights on Getting Customers, Coach K, Baby Boomers, Drugs, and CP3
Stretch Four Volume 60
🎉 Happy 4th of July! 🎉
Hello everyone,
Welcome to the 60th edition of the Stretch Four Weekly Newsletter. We've got a special edition for you this week, so make sure to sit back, relax, and enjoy the holiday weekend with some good reads.
In this edition, we cover a range of topics, including time management, startups and venture capital news recaps, and the latest trends in the venture capital world. We also have a special tweet (we cannot take these for granted these days ;)) and a quote of the week from Ian O'Connor’s book on Mike Krzyzewski that I finished this week.
Thank you for your continued support, and have a happy and safe 4th of July. Let’s get to it.
My work
Episode 015: Time Management and Building Relationships with Yoni Rubin (MRGN) (Link)
In last week's episode, the author shared insights on time management as it relates to industry events and an impromptu interview with a guest at an event in Minneapolis.
What to listen with — Four Thousand Weeks: Time Management for Mortals by Oliver Burkman (link)
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Tweet of the Week
I enjoyed a tweetstorm by James Hawkins, a previous guest on Stretch Four and member of the PostHog community, about getting customers. For more great insights, check out our episode and his company blog. This tweet is also well worth reading, even if it cuts into your rate limit.
Quote of the week
Everybody can pick out a reason for losing. Sometimes you pick out a reason without looking in the mirror. — Roy Williams
Roy Williams emphasizes self-reflection and responsibility for one's own failures. We often blame external factors for our shortcomings, but identifying areas for improvement takes courage. Although I was never a huge fan of Coach K, Coach K: The Rise and Reign of Mike Krzyzewski showed me his greatness. In sports, where success is paramount, perseverance and self-reflection are crucial. Coach K's success, despite not winning a title until his 5th appearance in the Final Four, is a testament to this mindset.
Chart of the week
The chart of the week shows that $16 trillion is projected to be transferred within the next decade from older Americans to millennial and Gen X heirs out of an estimated $84 trillion. The author suggests that a one-time estate tax exemption could be used, where any dollar "donated" to a fund that pays down student loans gets the donor X dollars passed through to their heirs free of inheritance tax. This could wipe out all student debt and create goodwill among the few estates that pay a larger share on behalf of everyone else. (Source)
Founder-related news recaps
Databricks Strikes $1.3 Billion Deal for Generative AI Startup MosaicML (Link)
MosaicML is an AI startup that reportedly ramped up revenue from $0 to $20 million ARR in just six months. Databricks recently purchased the company for $1.3 billion in stock, although the valuation is likely inflated as Databricks is using its 2021 valuation to make the purchase. Interestingly, college students chose MosaicML as their first job out of college, as highlighted by Jan Crisostomo and the folks at Neo in their newsletter.
The Super Connector Who Built Sam Bankman-Fried’s Celebrity World (link)
The author discusses the correlation between venture capitalists and founder fraud, citing K5 Global as an example of how connections to the rich and famous can help raise money and get into hot deals. The author doubts that K5 will have to pay any money back, but questions how many more instances of this kind will be exposed in the future.
Silicon Valley Is On Drugs (link)
Matt Levine's Bloomberg opinion piece discusses the growing trend of drug use in Silicon Valley, particularly the rise in ketamine usage among high-ranking individuals. Although the use of drugs may be more acceptable in the startup culture, the author emphasizes the importance of creating a culture where individuals can succeed without relying on drugs.
Health and Fitness Highlights
Vegan Diet TRANSFORMS NBA Performance & Success Secrets | Chris Paul x Rich Roll Podcast (link)
The author shares that Chris Paul has been on a massive media/press run promoting his new book "61". They also mention checking out the Rich Roll interview with CP3, where he discusses his thoughts on longevity and topics such as family, diet, nutrition, and fitness.
Final Thoughts
In conclusion, cash flow-positive companies are likely to be the big winners when the markets open back up. While AI companies are on the rise, not all of them will turn out well. There are currently three types of founder and company archetypes, including those that raised large amounts of capital in the past three years, those that are cash flow positive or profitable but only grow 1-2X a year, and ultra-hot AI companies raising big rounds.