I wonder if views should just replace likes and bookmarks should resume the place of likes. And that would prob make Twitter better because likes are basically just kudos to someone and may actually incentivize the wrong behavior. What do you think
@elonmusk
?
Spent time with a few VC firms last week. Let me be blunt, most of them care more about being great and competing with other VC's than actually helping founders. And yes, some of the "good ones" too.
I am launching a (small) $10M fund focused on LA startups and I am looking for a venture partner. Equal carry. DM me if interested. Maybe we call if WTF as in What The Fund!
I went to a few stores today to see how the CA reopening in SF is coming along. Every single staff member told me they are not comfortable with customers without a mask. Well done CA and SF politicians. People don't believe in science any longer.
Nine years ago we created
@Postmates
to empower local commerce and bring the best of your city to your home. Today we are proud and excited to join
@dkhos
and the
@UberEats
team to continue this mission across the US.
I don't think we are giving
@mlevchin
enough credit for building all these amazing companies. He once told me he is considering investing between $0 and $1M into Postmates. It was $0 in the end, so don't even think for a second I am tweeting this because we are friends.
VC Twitter telling everyone how to run companies so it fits their bullshit cookie cutters best is just so fucking annoying. I hope no one is listening.
1/ We at
@GreylockVC
are excited to announce we’ve raised $500M dedicated to seed investing. This is the industry’s largest pool of venture capital dedicated to backing founders at day one.
@paulg
I am sharing anther thing here that
@paulg
may like and that I think can be associated with being successful. Elon (
@elonmusk
) replies to most emails / texts within 10mins! I have known him for I think 8 years and while we are not friends by any means this is true for me.
I came close to take
@Postmates
public via a SPAC. In the end though, it didn't feel right. It's not that it is inferior to an IPO. It just feels dirty. Anyhow.
@bgurley
is prob right. Direct listing is the absolute best way to do it - and I don't even like Bill much. ¯\_(ツ)_/¯
@chrisfralic
@Nithin
I miss him every single day. Apple is using Postmates for every single same day delivery for almost 10 years now. My dream is to have Apple using TipTop as well. ✨
This is from the Postmates Series B (December 2013) deck. I am sure all of Silicon Valley has seen this by now but the slide holds true and is still the blueprint for almost every on-demand delivery company.
I have to admit that despite Postmates being a household name in LA, I do not know much about the startup community there. Whom are great people to connect with now that I move there?
Huge congrats to
@Basti
and his
@Postmates
team. True pioneers. Also will go down as one of the greatest pivots of all time... (can you even guess which one they were a decade ago?) 🚲🚀
When
@Postmates
integrated Stripe in 2011, Stripe had fewer than 100 other customers (and hadn't yet launched). It's been a fun voyage scaling with them over the past nine years. Congratulations to
@Basti
and the whole team!
So what was SVB selling? As far as I can tell, it was just unusually good at cultivating relationships with, um, Silicon Valley, specifically VC. Maybe it should have been called Schmoozing and Vibes Bank 4/
Your bank account might be frozen by the feds but when you get home your kids still scream dada dada and someone has to take the dogs out in the rain. ¯\_(ツ)_/¯
After about a year in stealth it's time build in public. So what does TipTop do? Well, it gives you instant cash for the things you own, which means you don't have to try to sell them. Buy something, redeem our instant cash offer, buy something new. It's ambient ownership - or
Starting today
@Postmates
will observe Juneteenth as a permanent company holiday. Not just in response to the moment—but to allow all of us time to reflect on the Black American experience (from 1619 to today) & the actions required to move forward together.
@lexfridman
Death is very likely the single best invention of life. It is Life’s change agent. It clears out the old to make way for the new. - Steve Jobs probably
Fundraising advice: Whenever you feel like you have to work really hard to convince someone to believe in what you are doing -stop and walk away. Just walk. No need to be polite.
I’m extremely proud of our entire team today and very happy that our announcement today falls right into the beginning of Yom Kippur. This is a good time to reflect on life, love and everything in between.
If anyone in SF is still at the office, here is what I'm up to these days:
We still have no idea how to make it all work but feel free to join the waitlist and wait with us I guess.
¯\_(ツ)_/¯
There was a generation of founders back in 07, 08 and 09 in SF that knew each other and that started out at the same time. It would have been incredible to have enough money back then to invest in each other. Something to think about.
Welcoming
@chesaboudin
! As founding executive director of Berkeley Law’s new Criminal Law & Justice Center (
@BerkeleyLawCLJC
), Boudin sees an exciting opportunity to build on his work of transforming the criminal legal system in profound ways.
We have around $20M with SVB. I have not initiated a wire today but one is scheduled for tomorrow morning. My hope is SVB puts out a strong line of communication coming directly from Greg Becker - that will allow us to change our sentiment. It's not a good look that he is not
If you are not supporting the
@ACLU
, start tonight. If you don’t get their newsletters, read it here. Stand up for one another. You are not alone. Fight. Raise your voice. Make a difference!
Harry told me that people like this episode. This is good. I told him that it hopefully helps other people realize that it's ok to be you and don't just copy & paste in life.
The Postmates acquisition has to be one of the most insane M&A stories ever.
💵 Sold for $2.65BN to Uber.
BUT
🖊️ The deal was negotiated with no collar so by the time it closed, the acquisition price was $5BN.
Today, the full story of how the deal went down with
@Basti
My 8
Now is the time for a new American airplane manufacturer. Built from the ground up with neural networks and US chips. I am raising $1B on a YC SAFE. DM's are open.
Now is the time for a new American airplane manufacturer. Built from the ground up with neural networks and US chips. I am raising $1B on a YC SAFE. DM's are open.
Now this is a quote I can live with: We were too dumb to invest in Bastian's previous company, Postmates, so we're excited to finally fix our mistake!" Marc Andreessen 🙌
Now might be a good time to do a little more than just urge people to get vaccinated! Like, make it god damn mandatory already. Everywhere. Fuck the feelings of the idiots who don't believe in vaccines.
At Postmates we stand for the American promise, that we’re all worthy of protection, we’re all equal, and we all count. As we mark a year of partnership with the
@ACLU
to stand up against the ban, today we also stand undeterred that we are a nation of immigrants. Don’t be silent!
Look, it get it. It’s scary. It’s scary as fuck. But VC’s or even worse, smart people losing it and tweeting about the end of the world scenarios is not gonna cut it right now. So get ahold of yourself. Share what can help or better yet - do help! And stay calm.
There lies another truth here. The very best of all companies will do a direct listing. Postmates wasn't good enough. We needed money - the best ones don't.
@eldsjal
and
@tobi
are the CEO's of my generation I look up to. 🎩
I came close to take
@Postmates
public via a SPAC. In the end though, it didn't feel right. It's not that it is inferior to an IPO. It just feels dirty. Anyhow.
@bgurley
is prob right. Direct listing is the absolute best way to do it - and I don't even like Bill much. ¯\_(ツ)_/¯
Look this is all good and fun to watch but honestly it's just all too little and too late.
@LondonBreed
and all of her staff have not done enough for many years. No matter how passionate she is today. These are facts. You can only get away with complaining about what you can't do
To everyone out there tweeting all day about how bad SF is. Do something or move. Tweeting your crap ain't going to do anything. Last time you helped the homeless? Attend a council meeting? Anything? No? Move!
"Marc Andreessen pinged me after hearing I was starting something new. We agreed on a $23M series A. We are essentially doing 3-4 ideas in one startup."
This is what fundraising looks like when you sold your previous startup to Uber for $5B.👇
I pretty much owe everything I know about startups to
@venturehacks
@naval
and
@nivi
- Venturehacks truly was my bible. Here is to Townsend and everyone who knows what that means. ❤️