Clujso (David)

@d

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Flying sunsets on @rodeodotclub

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Marketing at it’s finest

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“Any year that you don’t destroy one of your best loved ideas is probably a wasted year” Who said this?

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Listening to the Founders podcast by David Senra

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3/ Quality is everything They are obsessed with the book “Zen and the art of motorcycle maintenance”. All about quality of a craft. “There was something a little provocative about the whole thing: could you set up and investment outfit which is not about the money? It’s about doing everything right?” They don’t do marketing or sales, and only accept LPs they personally like, making then sign a document stating that this is only fit for investors with a 5+yrs time horizon

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2/ Roaming for value “We just read annual reports until we were blue in the face and visitors every company we could until we were sick”. They also practiced what they call destination analysis: “What is the intended destination of this business in ten or twenty years?” Great company founders are “passionate about the smallest details, improving customer experience, cutting costs, investing in distant future. They have to be almost high on being iconoclastic.” They followed the Berkshire path without knowing, they started with cigar buds, investing in underpriced assets, and then realized that it was best to find long term compounders driven by great founded. Their highest performing portfolio was driven by stocks like Amazon, Costco, and much more smaller firms that had scale economies, they ran a very concentrated strategy.

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1/ High vs. low shelf live information Most people in the business are “quarterly EPS junkies”, craving information that will be worthless in 12 weeks. “You need to be wired not to believe the bullshit, to not be listening”. A funny story, they disengaged from day to day action by minimizing their use of a Bloomberg terminal. They own a single terminal, on a short side table without a chair. “It was meant to be uncomfortable, you could only spend 5 minutes without thinking my back is killing me.”

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I’ve come across Nick and Zak story in the founders podcast, and in the book Richer Wiser Happier, and became an instant fan. As outsiders, “a failed landscape architect and frustrated meteorologist”, they would roam anywhere to find value

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Nomad Capital: The best firm you don’t know From 2009 through 2013, Nomad returned 404%. And in less than 13 years operating, the fund returned 921% before fees How?

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Listen here: https://open.spotify.com/episode/0LRCDTq51VC4vilaL9HQZm?si=Mm2z89-SR6GgN2pOkaOMJw&t=2964&context=spotify%3Acollection%3Apodcasts%3Aepisodes

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A lot to learn from Zach Abrams (Bridge cofounder) “We’re a very unique team: early Square, Coinbase. We have 50 employees and there’s no management structure. Everyone is senior enough to work independently.” Inverting this: spending time optimizing org structure is a waste of time.

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Sometimes you just need to zoom out Source: Bitwise

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It's the simple design decisions that go a long way https://x.com/2irl4u/status/1853526790070849649

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Distribution is just a channel, and in this case it worked wonders — it’s probably more about the product retention here

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Exactly — Farcaster and other protocols needs a way for me to create separate social graphs for different use cases

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Randomly stumbled upon the BranchOut story while revisiting 7 powers: June 2010. Rick Marini, 2x founder with a 100M exit, decided to tackle on LinkedIn through the open social graph Facebook had. He easily raised a 6M series A led by Accel. By that time, LinkedIn already had 70M users. BranchOut users in 11Q1 went from 10k to 500k, they raised another round totaling 49M in funding — all while LinkedIn IPOd By spring 2012, users peaked to 14M, but then, they dropped “Few of BranchOut users where truly engaged, when FB banned the spammy wall post method, BranchOut churn outpaced it’s growth” In 2014, Hearst acquired the assets and team for a fraction Morale of the story: Users don’t want to mix up social graphs. In this case, each additional user that signed up detracted value for the rest Applying a similar logic, how do web3 social protocols survive if people don’t want to mix social graphs? Multiple decentralized identities + multiple social protocols + different clients

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Listen here: https://open.spotify.com/episode/3NjHB1QtDTcl98qPpkaBdJ?si=OKizPjVER_GW6UBmYKRuMg&t=2139&context=spotify%3Acollection%3Apodcasts%3Aepisodes

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For founders struggling with growth vs. product, from Revolut’s CGO: “Product builds the machine, and growth operates it” Dissecting it, product is building internal tools with custom parameters, which the growth team is able to operate on a daily basis, measure, and test

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