(This article was originally published in English. Translations are available in Spanish and Portuguese) I’m not sure who needs to hear this but here goes – now is the time to be ambitious when others are fearful. Just keep building things your customers want. I’ve spent the last few years as a venture capitalist, and…
Category: Economics
The Disciplined Startup in an Undisciplined Market
What does it mean to run a disciplined startup in an undisciplined market? A famous quote (often credited to Buffett) comes to mind: “In the short-run, the stock market is a voting machine. Yet, in the long-run, it is a weighing machine.” Today’s market for startup financing is operating like a voting machine. Why is…
Robinhood: Elon Musk, bad incentives, and the solve (and ok, let’s throw in blockchain)
Ok, Elon Musk was right Robinhood has always had to thread the needle between a populous mission to upend the establishment ($0 trades for everyone!) and running a real business (enough revenue and growth to successfully take the company public). So what’s the answer? Unfortunately, it’s what Elon Musk was alluding to on Sunday night…