Sending a $250k uncapped SAFE to founders you’ve never met isn’t investing. Investing would mean weighing risk against reward and pesky things like portfolio math. In this case, you're basically just gambling.

End state of a perfectly run process (stats from the company). Lots of loose ends, mostly from investors not pushing the ball forward (or forward on a reasonable timeline), even after IC.

Listening to a founder fumble a coffee meeting in the last minutes with “I’ll be in touch when we raise. I dunno when. Maybe soon, probably, I dunno”

Claude's view on the most interesting startup of the week, Positron: This is the largest deal in the batch, and Positron is building custom hardware specifically for AI inference - a critical infrastructure play as AI models become more demanding. Located in Lovelock, Nevada (an

Founders love to pitch act 1 and act 2 and act 3 during a Series A. It feels bigger and more interesting. But most companies never get past act 1. Investors know that and tend to discount elaborate stories. Make sure that act 1 is interesting enough for the next 10 years of

Never let an investor think they control your fundraise.

Fastest investor across the line and best investor across the line are rarely highly correlated.

I don’t need a round A VC said she wants to pre-empt Maybe I do need that round The investor is slow to respond Now I’m sad because I think I need the round The terms aren’t as good as I thought Better take it because my competitor raised

People who routinely compare cofounder relationships to marriages either haven’t been married or have deeply strange marriages.

VC is the only job I know where you "do" mostly nothing for years, are wrong on most of things you do actually do, and can then return hundreds of millions of dollars seemingly by accident.

I like texting my friends silly pictures when I know they’re pitching VCs in the hopes that they forgot to turn off imessage

Memecorn – startup rapidly raising massive uprounds on little additional business progress.

Got a light? #leica #bwphotography #nyc

Find a market so big that you can achieve greatness even if you screw it all up.

Founder just referred to Stripe as a legacy product. Wasn't even part of a pitch. Just casual. Barbarians are at the gates.

Over produced product launch videos are like overly long investor updates. Takes a lot of effort, unlikely to create lasting value, makes me wonder why you have so much time for cinematography.

“Co-chief” is nearly always a gigantic red flag. But then sometimes it is the obviously right choice. Startups are funny that way.

Touch sky. #leica #blackandwhite #jenkinsons