The Ying and Yang of Love and Hate

I’ve read a lot about love and hate these past few days, as if one is good and the other is bad. Love and hate, however, are two sides of the same coin.

If you hate globalization, you probably love your country. If you love Hillary, you probably hate Trump. If you love love, you probably hate hate.

Hate has a place in this world though. I hate intolerance, you probably won’t judge me for that. I hate unfairness. I also hate when people hate the people who hate the things they love, because that’s intolerance.

We all have different backgrounds that lead us to love and hate different things. I have my opinions on what is good and bad. What I love is good and what I hate is bad.

Are you any different? Is anyone any different?

Stand for what you believe in. Lead by example. But don’t forget to be tolerant, especially of those who believe in different things than yourself.

The Role of Algorithms in Venture Capital

We first saw program trading, where computers were preprogrammed to execute a stock trade based on predetermined conditions, in the 1980s. Today, over 1/3 of stock trades worldwide and well over 1/2 of stock trades in the US are executed by algorithms.

Algorithmic venture capital investing is far from common place today, and many argue it never will be. However, it would be hard to argue that data does not play an important role in the industry.

Pioneers in this space already use algorithms to make decisions. Matt Oguz at Palo Alto Venture Science ($200M fund) looks at 13 different variables for each prospective company, like technology, IP, people/team, location, and competition (source). WR Hambrecht Ventures works closely with Thomas Thurton of Growth Science and combined predictive modeling with Clayton Christensen’s disruption theory (source). David Koatz and David Kienzle at Correlation Venture ($166M fund) weighs the track record of the entrepreneurs, investors, and advisors heavily (source). Google Ventures ($1.5B under management) looks at data from academic literature, past experience and due diligence of founders and startup. (source).

Looking at survivorship of companies after a 10-year period, Thurston says his algorithm has a 66% hit rate, but it’s still too early to know if these algorithms can consistently out perform humans, and if so, in which areas. It would make sense that this algorithmic approach works better for later stage investing where there are more consistent and comparable metrics to feed into the algorithm, as opposed to early stage companies where there are fewer metrics to feed into the algorithm.

Some might suggest that this algorithmic approach would work best for niche categories, allowing the algorithm to specialize. Circle Up a crowdfunding site for consumer packaged goods employs an algorithm to help help evaluate over 500 deals a month (source). Deep Knowledge Ventures appointed an algorithm to it’s board, capable of making investment recommendations of age-related disease drugs and regenerative medicine companies based on a companies’ financing, clinical trials, intellectual property, and past funding rounds (source).

While these algorithms can process more information and deliver results quicker, most (if not all) funds still employ some human element to screen results before making final investment decisions (source).

By making enough investments, it’s not difficult to see how an algorithm might help a fund outperform the average venture fund. It seems difficult, however, for an algorithm based fund to be a top-performing fund, whose returns come from outliers – which are by definition the most difficult to identify via an algorithm.

Perhaps the role of algorithms in venture capital investing is not to replace human decision making, but merely augment it.

Working with corporates as a startup

Many startups seek to disrupt existing industries. Some of them seek to disrupt them by competing with large companies. Others seek to disrupt industries by collaborating with, or selling to large companies. This article is for the latter.

As a startup, here are some tips on doing business with large companies.

Learn how the company has worked with technology and startups in the past.

A little research will go a long way. Look up what kind of technological innovations the company has implemented in the past. Were these technologies built internally or did they work with an outside vendor? Have they worked with or invested in startups in the past? What kind of startups are they? Who are the people mentioned and quoted in the articles that discuss technological innovations this company has explored? What other notable projects have people in this company explored relevant to the value you are seeking to provide them?

Google it. Google News it.

As you start engaging with this company, try to understand the “politics”.

Whomever you start to engage with within a company, they report to somebody. That person reports to someone else. All three of those people have slightly different “goals” within the company. As a startup looking to do business with a large company, part of your job is to assess what role different people and departments have within the organization and how they interact with each other. How you navigate this can determine how fast or slow your deal might proceed.

Seek a champion.

As you do the above, your goal is to seek a champion. For a large company to start working with a startup, it often takes a champion to sell this idea internally. This champion may have to bring you up multiple times in various meetings. Look for the individual or department in the organization whose goals align closely with the value you seek to provide for the organization. As you engage with any company early on, your goal should be to identify, meet, and provide value to this champion. As you start to engage with many companies, you will likely find patterns that help you seek the champion quickly (often times a specific title or department).

Provide tools for the champion to sell you internally.

Once you’ve identified this champion, your job is to provide tools to help this champion sell you internally. Provide language that resonates internally. You need to provide a simple pitch the champion can remember and repeat. This will likely be slightly or significantly different from the elevator pitch you use with investors. Decks and other material they can pass around or present can help.

Don’t put all your eggs in one basket.

Large companies move slow and take time. A deal may suddenly fall through for reasons out of your control. Don’t spend so much time on making one deal happen that you have to shut down your startup if it doesn’t go through. It’s happened before and will happen again to somebody – but not you.

Why did you start this company?

“Why did you start this company?”

“Why are you working on this idea?”

We investors love asking these questions. We’re assessing your passion for the idea. Starting a company is difficult, and we want to know that you are going to persevere when times get tough.

It’s not a simple question.

Usually, the reason you’re working on your startup is more confusing than a simple story. It’s a mix of consequences and coincidences. You should be aware of all the reasons that led you to you working on your idea.

Where did you notice the problem you’re solving? Why do you care about this problem so much? Why does it have to be you solving the problem? Why not just help guide someone else already working to solve it? How much are you risking to start a company? Who else might lose if this doesn’t go well? Why risk so much? Why not risk more? What’s your ultimate goal here?

Those are just some questions you should be able to answer.

“What’s the ‘Why?'”

Balance

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100+ Practical Cognitive Exercises

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I use the term cognitive exercise to encompass all activities that “exercise” the brain, including meditation, self-hypnosis, and diary-writing.

The brain is a like a muscle, or a collection of muscles, just like your body. Similarly, you have to train these different muscles with exercise. There are many parallels between physical and cognitive exercise. You have to do it often. You want to hit all the muscles. There are a variety of ways to do it, some will work better for you, others will not. You need to consider your goals and choose the appropriate exercises. There’s a difference between doing it alone and with other people. The list goes on.

I’d like to share with you 100 practical cognitive exercises to strengthen your brain.

Some are quick and easy, some will take a little more time and effort. Some are specifically designed to exercise parts of your brain. Some are things you already do, and for these, just approaching it as a cognitive exercise and tuning into how it effects you amplifies it’s effect. Sounds simple, but it works.

  1. List out things that help you de-stress.
  2. Think about what you want your life to look at in 5 to 10 years.
  3. Think about things you have that others don’t and say thank you.
  4. Exercise
  5. Meditate
  6. Listen to music
  7. Breathing exercises
  8. Stretch
  9. Yoga
  10. Eat. Are you hungry? Feeding your brain is just as important as using it.
  11. Eat indulgently. Something that makes you happy. Ignore health.
  12. Talk to someone you love.
  13. Talk to a family member (you don’t have to love them).
  14. Talk to a relative. (not parent, child, or sibling)
  15. Talk to a semi-close friend.
  16. Think about how when you’re stressed, it’s a chemical reaction. You can mentally separate the feeling of stress from the problem if you practice this.
  17. Sing
  18. Dance
  19. Think about something completely random.
  20. Watch tv. One that’s familiar, that you used to watch a lot.
  21. Watch a movie. One with a main character that inspires you.
  22. Clean your room.
  23. Organize your closet.
  24. Clean around the house.
  25. Draw or paint something.
  26. Sculpt something.
  27. Send a thank you letter.
  28. Take a nap.
  29. Look at old photos.
  30. Write down the names of people you love.
  31. Write an email to yourself one year from now.
  32. Read your diary, or old social media photos.
  33. Visit family.
  34. Take a long bath.
  35. Create a bucket list.
  36. Create an anti-bucket list. That’s a list of things you’ve done that would be on your bucket list if you hadn’t.
  37. Do a body scan. Look it up, it’s a meditation technique.
  38. Cook food for yourself.
  39. Take a walk.
  40. Free write. Don’t stop writing for 5 minutes. Keep moving your hand.
  41. Write down your favorite dishes.
  42. Imagine a perfect future.
  43. Throw things away.
  44. Buy something for yourself.
  45. Buy something for someone else.
  46. People watch. Notice demographics, personality, clothes, mood, emotion.
  47. Approach and talk to a random stranger.
  48. Toss a ball with someone.
  49. Clear your desktop.
  50. Clear your email.
  51. Organize old photos.
  52. Play a board game.
  53. Organize files on your computer.
  54. Measure your heart rate.
  55. Do a color scan. Think “red, red, red…” with your eyes open to notice all red things in sight. Then do orange, yellow, etc.
  56. Read Wikipedia articles.
  57. Watch TED videos.
  58. Learn something new.
  59. Play a game.
  60. Wash your car.
  61. Read a book.
  62. Hang out with friends.
  63. Grab a drink with friends.
  64. Dance with somebody
  65. Dance by yourself.
  66. Discuss politics with a friend
  67. Give to a charity.
  68. Host a game night.
  69. Hug someone
  70. Draw your golden circle (Why, How What).
  71. Drive a different route to work.
  72. Eat alone at a restaurant.
  73. Go on a solo road trip.
  74. Write down a to-do list.
  75. Scan book titles you’ve read and think about them.
  76. Take an artistic picture of something in your house and post it.
  77. Regularly attend a weekly gathering.
  78. Write down the names of people who can make you smile.
  79. Have sex.
  80. Masturbate.
  81. Take a personality test.
  82. Ask people what they think of you.
  83. Tell people what you think of them.
  84. “You are who you’ve met” exercise. Write down a list of all the people who’ve influenced who you are and the most important lesson you’ve learned from them. Include friends, family, and even movie or tv show characters.
  85. Stare at one thing for a really long time.
  86. Volunteer
  87. Pick someone and imagine what it’s like to be them.
  88. Do something for someone.
  89. Get someone to do something for you.
  90. Build an IKEA table.
  91. Build an IKEA table with someone.
  92. Turn off your phone for a day.
  93. Go camping.
  94. Attend a music festival.
  95. Go to a concert.
  96. Watch a musical or play.
  97. Volunteer at an event
  98. Organize a group dinner or happy hour.
  99. Do a “silent night”. Only communicate in hand-written notes.
  100. Cook with someone.
  101. Reconnect with an old friend.
  102. Play or learn an instrument.
  103. Write your own obituary.
  104. Read about the brain.
  105. Do something embarrassing.
  106. Write down your strengths.
  107. Create a vision board.

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