Prasanna S
@myprasanna
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Co-Founder @Rippling @0xPPL_ ; Angel Investor:
Singapore
Joined May 2009
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Today, dishonest
@Reuters
journalists
@AABerwick
and
@e_howcroft
published a hit piece on my dear friend
@MetaKovan
-- fellow self-made billionaire from my home town of Chennai. As
@balajis
has highlighted time and again, this is a caution story of how reporters are unethical./1
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Guys, tbh, I never expected what we see today from GPT. Civilization altering.
@sama
broke the world.
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I know what the distractions ahead are MF.
@elonmusk
is coming for your head. 🤣
Elon has decided not to join our board. I sent a brief note to the company, sharing with you all here.
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I came to the valley 10y ago, to make $1m so i never have to work in a big co again. Never imagined $1B.. Thank you
@parkerconrad
-- He said on day one,
@Rippling
was going to be worth $100B one day. Had a 10 year roadmap, that we are still executing against to this day..
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If you build a product that so far out of imagination - revenues takes care of itself. Stuff that legends are made out of.
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Yeah Modi made a few phone calls it looks like. The who's who of India are last minute investing in Adani FPO. Jeez. Ambani. Bhartis. UAE prince. When public cries about LIC investing - Modi shows he can tap pools of capital you can't cry about. Incredible.
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Where did the first time founder get the $400m to be able invest in his own company at these high prices? Any idea?
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Next stop is IPO. Congrats to the amazing team!
Rippling has raised a $500M Series E. Here’s an update on our fundraising round, along with our response to the recent SVB closure: . Read on for more… 🧵1/4
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What problem does crypto solve? I was at lunch recently with a group of accomplished entrepreneurs - with many crypto skeptics.
My tl;dr is decentralization.
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Cancelled the Dubai trip. Walked out of my checked-in flight. Airport staff was confused. Seems like the right call so far, with friends stuck in the airport etc.
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The YC run by
@sama
was opposite of the one run by
@paulg
and I noticed this when I went through YC twice.
@paulg
worries what will go wrong but
@sama
worries what if things do go right and the foundations aren't there.
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The fascinating part here is
@sama
chose OpenAI. He could have forever appeared a legend being a YC CEO. But OpenAI was failing -
@elonmusk
withdrew funding. The baby needed all he got. He did not let the baby die. Real legends are forged by sacrifice.
I got tired of hearing that YC fired Sam, so here's what actually happened:
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Congrats to everyone
@Rippling
and especially to
@parkerconrad
-- looking fwd to the party this weekend! ☺️
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@Reuters
@AABerwick
@e_howcroft
@MetaKovan
@balajis
I have seen this before with attacks on my co-founder
@parkerconrad
; tech founders are usually very open and want to freely tell their side of the story, because wtf is there to hide? and then they meet reporters for the first time in their life. On a hit piece. Too late. /2
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Thanks NIT Trichy guys for coordinating a huge last minute meet up. And that’s my son. 😊
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If enough people do it, reporters do not have any power. They are losing credibility with their audience fast. And in the age of social media, audience can go direct for news instead of relying on these downright sketchy intermediaries. /16
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These are not your friends. Even after knowing all this, they refuse to include
@MetaKovan
's verbatim statement. US was once a place where journalists wanted to really know the truth. Now as FB/Twitter is putting them out of jobs, they are forced to chase page views. /9
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Bought $OPEN for $500k; Trading below cash ($4/share); they have dumped most of the underwater inventory this quarter. Not going bankrupt anymore. Making $400m/yr contribution margin and growing >3x y/y. For $1.8B market cap.
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2B from consumers just paying with credit card was not my top guess. Thought APIs would be the majority. Wrong by a lot. We live in a crazy new world.
The report on OpenAI's revenue by futureresearch is out, showing:
$1.9B for ChatGPT Plus (7.7M subscribers at $20/mo),
$714M from ChatGPT Enterprise (1.2M at $50/mo),
$510M from the API, and
$290M from ChatGPT Team ( 80k at $25/mo)
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I grew up having india as a secular and democratic country. With a free press and judiciary. Not anymore.
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First, let's talk about the dishonest claims in the article. It claims
@lendroidproject
funds were depleted or missing. This is AFTER, they were shared a fin stmt that shows the token sale funds as "accounts receivable"; No mention in the article. Dishonest or incompetent? /3
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Creating a new category is extremely hard. But nothing else is worth doing with your life.
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Finally, hours before the hit piece, it's a good idea (like
@elonmusk
/
@brian_armstrong
/ zuck) does to go direct to your social media followers and tell them this is coming. Also talk about the dishonest motivations of reporters. /15
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I'm visiting Bangalore and planning to host a meetup / talk in HSR - Aug 3rd at 6 PM. Would love to meet interesting people. Pizzas will be served. :)
Hit me up if interested:
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Bro, you don't think so? 😊 C'mon, you know this. You're a founder.
It's one disaster after another every day. Lots telling you to stop. Precisely because -- often, we don't have to. Yet, you touch some grass and realize whatever truly gives you meaning, has lots of struggle.
I feel so sorry for founders like this.
Really successful, rich beyond belief, privileged in every possible sense and yet they believe that life as an entrepreneur "sucks" because they hear a lot of no's...
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Now one might think they were just incompetent and might be a honest mistake. No - They are thorough as your worst enemy and only feign incompetence when there is lot of public personal heat against the dishonest journalists
@AABerwick
and
@e_howcroft
. /6
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Adani Enterprises: Bad day for the bears today. Great defense by team Adani / Ketan Parekh. A thread about what happened on the markets today play by play from reading the tape. First, All time high delivery volumes - 600 Cr. 1/
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@AABerwick
spoke with lots of users and KNEW this fact -- can be easily figured out from dates of the complaints. But Saif a shady loser is not a good target.
@MetaKovan
is a succesful YC founder and billionaire who can get page views. /5
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I want a tool, which streams a daily summary of all my developers activity into slack. How much code have they shipped? Which asana tasks did they close?
Is anyone building this or any such tool I can try?
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My hotel news paper this AM. Ran out of cash to hold the stock price so let me just run a big ad. Gg sir.
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It’s amazing how few people see the world as is, without their biases and politics. Independent thought is rare.
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Game over - lower circuit; gg
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It's incredible that just when i thought
@elonmusk
was once in a 100 year event,
@sama
's web of companies break out and create entirely new categories. The YC mafia has come a long way but
@sama
has set the bar so high. Also incredible that
@paulg
called it, when
@sama
was 20.
❗Sam Altman's opening statement from the AI hearing today.
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Second, Coins-E users lost money. It is an exchange
@MetaKovan
started and sold to Saif Altimimi - a shady character. Easily googleable Sale doc here in 2014: ; After the acq, Saif scammed the users in the exchange in 2016. Saif should go to jail. /4
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And the title of the report: "How an Indian metaverse king made his fortune" was the only thing missing from the article. I'll do their job and provide the real answer here: /11
Congrats
@MetaKovan
— the defining crypto visionary of our time, that I’ve had the fortune to know for 10y now... the best crypto investor I know.
1/ I laughed when he put 50% of his BTC (net worth) on ETH ICO (100000x). I laughed when he put 33% of his net worth on DOT.
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Sophisticated Founders who are receipient of these hit pieces know in advance that is coming. There is a motivated journalist calling all your friends for dirt, months at a time. And should usually never speak with these journalists.
@MetaKovan
initially tried that. /7
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First, if a hit piece is coming, hire a crisis management PR firm. They will help stall the offense by coaching all your friends not to talk. /13
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One of those podcasts where you need to pause and really think, almost all the time. And yet, it's a 6h podcast!
@balajis
is a treasure. Well read and highly connected ideas. Navigating them effortlessly - huge amounts of effort to the listener. 🤣
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Is this news? -- "A spokesman for the Monetary Authority of Singapore said it does not regulate Lendroid and referred Reuters to the Singapore Police Force. The police said they had not received any reports regarding Sundaresan or Lendroid." WTF? /10
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How much does one stoop for sensationalism? Mouths to feed, brings out the ugliest of humans. So how to deal with parasites like this?
@balajis
has spoken a lot about this. /12
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And then they bumped him at
@Dreamverse_life
conference which he was organizing. First pretended they were impressed by the conf and wanted to take pics. And asked friendly questions. Then the dirty ones. By then you think, you could just clarify the truth like friends. Oops. /8
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Then, they will engage with the reporters and ask about the accusations. They'll respond with facts and will threaten to escalate to journalist's manager if dishonest, before publishing. They'll demand a 1-2 line verbatim rebuttal to be included. /14
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The most eligible bachelor I know no longer is. Congrats to
@MetaKovan
on his amazing wedding! The girl is very very lucky and I'm truly happy for the couple.
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Midwit meme:
0 Iq: crypto is the future of money.
Midwits: crypto is a ponzi.
Infinite IQ: crypto is the future of money. All human progress is a ponzi.
do you think the people still in crypto know it's a ponzi scheme but can't help themselves
or are they actually just delusional
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~10 years of doing startups. And when things work, they work really well/fast. When they don't, they take forever. Super lucky to be a part.
Very exciting day at Rippling, with a lot to celebrate and be grateful for. Thank you to the customers, investors, and colleagues who have gotten us this far.
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This has been
@parkerconrad
's dream from day one. This is the core of why
@Rippling
is way better than anything else out there. No one is even trying...
Today is our biggest product launch ever: Rippling Unity. Unity is a collection of five new products built on top of our Unified Workforce Directory, each of which unlocks completely new capabilities for your company. Read about it in our CEO’s blog post:
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The Bhagavad Gita
you have a right to your actions,
but never to your actions' fruits.
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In chennai for the next month. If you are around and want to meet near Anna Nagar lmk 😊
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You see a smile on
@0xppl_
user retention chart. If you've used it twice, you are coming back again and again. We are going to blow up this bull run! To billions and beyond. 🍷
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Congrats
@MetaKovan
— the defining crypto visionary of our time, that I’ve had the fortune to know for 10y now... the best crypto investor I know.
1/ I laughed when he put 50% of his BTC (net worth) on ETH ICO (100000x). I laughed when he put 33% of his net worth on DOT.
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Excited to launch Solana support on 0xPPL!
@0xppl_
The guestlist for the next Solana Ecosystem Call is stacked! 🏴☠️
Farcaster x Solana with
@dwr
Crypto x Longevity with
@bryan_johnson
DePIN Deep Dive:
@getgrass_io
Jupuary Review with
@weremeow
Launch of the Month:
@myprasanna
👀
Sign up now:
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$COIN coin baby!
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Vinod closed minded khosla
Billionaire venture capitalist
@vkhosla
says the 2024 Presidential election isn’t about Republicans vs Democrats.
“It’s about Republicans and Democrats vs Assholes (people supporting Trump).”
Khosla also says “we have to absolutely at any cost make sure that that donkey’s
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The absolute counts here are too low 😂I feel I personally know more billionaires in Singapore haha
I find it fascinating that New Delhi has more billionaires than San Francisco.
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The Indian population has spoken against the consolidation of the 4 pillars of democracy (judiciary, media, legislature & executive). Next stop US elections. Populism has gone out of season. The censurers are getting a pushback. Very pro crypto.
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In an apartment complex in chennai — these guys are running a fraud I suppose:
@police_chennai
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Will be in Bangalore and hosting a crypto meetup, on 1st August! Would love to meet.
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Reporters conveniently cut off moments like these when they broadcast in their channel. Only retain what embarrasses the other party. Tables have turned haven't they?
@elonmusk
knows their game and can out think them.
BBC reporter arrives unannounced at Twitter HQ.
Elon grants them an on-the-spot interview.
Big mistake, BBC.
Watch
@elonmusk
end this reporters career in 27 seconds flat.
This is what instant regret looks like:
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If you have done bat shit for the Uyghur genocide, you don't care. Don't cancel the guy who happens to just say it loud. i.e.,
@chamath
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Valley outsider trivia: What do you think are the odds, Khosla and Thiel actually said these things? 😊😂
Ramp is completing a $150 million Series D-2 funding round, raising the company’s valuation to $7.65 billion.
This round was co-led by
@khoslaventures
and
@foundersfund
, with additional new investors
@sequoia
,
@GreylockVC
, and
@8vc
. Our existing investors
@ThriveCapital
,
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There’s a time to buy and a time to sell and a long time to do absolutely nothing.
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This man is making us blow up right now. Insane sign up rate!
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What IBM said to Apple in 1980s.
To be clear: I'm not criticizing OpenAI's work nor their claims.
I'm trying to correct a *perception* by the public & the media who see chatGPT as this incredibly new, innovative, & unique technological breakthrough that is far ahead of everyone else.
It's just not.
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Running a crypto degen meetup in Bangalore (HSR) today evening at 6pm. Would love to talk state of crypto markets, 0xPPL and get your thoughts & feedback. If interested, kindly RSVP:
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Surreal moment for any creator. I was at Pradeep's concert last week, with my family, where he was entertaining 10K+ ppl with his music. I'm glad, I was able to entertain him, doing what I do best. Pouring my heart building a great product. One of the best moments.
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Hosting another crypto degen meetup at our brand new bangalore office, this Wednesday, 6:00 PM (June 5); Please RSVP if interested!
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Ok looks like lots of good people going to Dubai. So next week I’d be there. Hmu if around.
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I’m max short.
NEW FROM US:
Adani Group – How The World’s 3rd Richest Man Is Pulling The Largest Con In Corporate History
(1/x)
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Congrats
@sreeramkannan
; My 0.1% of EigenLayer should be worth a lot now :)
@eigenlayer
launches on mainnet today, taking the first steps towards our vision of building the verifiable digital commons!
-----------
Ethereum is the verifiable internet.
Rollup is the verifiable web server.
AVS is verifiable SaaS.
Eigenlayer is the verifiable cloud.
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Highly recommend
@garrytan
for all the founders out there. When top tier VC firms were on the fence, led the
@Rippling
seed at a higher price. And then everyone else wanted in. Helped us close the series A. High conviction investor you want to lead your seed.
I'm very proud to announce our
@Initialized
Fund V, a $230M fund focused on seed, before the hockey-stick happens. The honeybadgers are reloaded.
There are lots of options for after product market fit. We want to be the team that helps you *before*.
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when an investor thinks he knows how to fix a startup...
An Apple investor from 1981 says Jobs almost destroyed Apple
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Great chatting with my old YC batch mate
@danielkivatinos
and co. Absolutely nothing to do with Rippling lol
This is part of a conversation with
@myprasanna
, Rippling's cofounder, and the story of how he and his cofounder built a multibillion-dollar startup Rippling.
#startups
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A screen recorder that captures and indexes everything you see, was the first idea i pitched
@paulg
and was building 10y ago when i first came to the valley. We were too naive and early. AI and OCR have advanced a lot and now we get: 🙂 Very cool product!
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It’d be incredibly idiotic in the interstellar money, if some random government of 300m people had root access to the money database. (Or speech DB)
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Even though I lost a lot of money because of this assole, I do feel a bit sorry for him.
BREAKING: FTX founder Sam Bankman-Fried (SBF) sentenced to 20 years in prison.
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It’s incredible that the worlds richest man is going all in and staking liquidation on the line for no economic benefit. Has this ever happened before? Really screams YOLO.
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If only there was an anti LinkedIn where ex managers say what someone actually did vs what their LinkedIn claims 😊
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My 80 year old grandma is very strong. She'll review her life strategy.
WATCH: "Our balance sheet is healthy and assets robust."
Gautam Adani broke his silence with a video address to investors announcing the group will review its capital market strategy as the fallout from Hindenburg's attack continues
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6/ he started with $10k to invest and now in his early 30s nearing a billionaire purely as a crypto investor. The best one I know.
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Adani trade did not work for me. Fully out. Moderate profit. Team Adani seems to have enough funds to hold the price for now. Budget tomorrow so too scared to hold overnight.
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Ok grandpa
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Excited to launch with Solana! Get ready to be mind blown.
The guestlist for the next Solana Ecosystem Call is stacked! 🏴☠️
Farcaster x Solana with
@dwr
Crypto x Longevity with
@bryan_johnson
DePIN Deep Dive:
@getgrass_io
Jupuary Review with
@weremeow
Launch of the Month:
@myprasanna
👀
Sign up now:
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Largest position 🙂
Jim Cramer warns potential investors to stay away from Coinbase stock.
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And oh the stock is going to pop like crazy in 8 hours when the market opens. 😮
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