Find Your People
w.217 | Charlie Munger, Podcasting, Duolingo, TTD & IA, Expectations v Agreement, Prediction Machines
Dear Friends,
I hope you’ve enjoyed the whirlwind around the “end of the year” as much as I have.
This edition of Declarative Statements is dedicated to Charlie Munger, a true American icon. I’m grateful for having made the pilgrimage to Omaha in May this year for his last act on stage. He’ll be missed.
Today's Contents:
Good Reads: Sensible Investing
Recent Recommended Media
Song of the Week: Find Your People
Good Reads: Sensible Investing
The Rise and Fall of Podcasting. TL/DR: For those trying to make money off of podcasting, advertising business models are challenging now - but maybe charging subscriptions for content and building a community is next.
The Marketing Formula that Propelled Duolingo to 500M Users interview with Luis Von Ahn. Pair that with the 2023 Duolingo Language Report.
The TTD Investment and IA Ventures Model. Despite being seven years old, Roger Ehrenberg’s blog that he re-shared rings true today. It offers transparency into what it looks like to generate spectacular venture returns from the inside.
The greatest venture funds - and firms - in history started small. They started investing very early in a company’s life, owned a lot, and continued investing over time. In short, they identified great founders playing in large markets, took significant early risk, continued to lean in when risk/reward appeared attractive and ended up owning a lot for a *little*.
Jamie Dimon’s $4 Trillion Machine. He made JPMorgan Chase the biggest bank in the world. What is it, exactly?
Well-written and informative feature.
Recent media I enjoyed:
Expectation vs Agreement. Audio file recommendation from Danny Stedman.
Virgil Abloh - Free Game. An introduction and an attempt to provide a mass form of mentorship to give information and access to all interested: Giving all the ability to consider a step-by-step guide to building their brand based on the experience of a creative genius.
Prediction Machines: The Simple Economics of Artificial Intelligence. Book recommendation from Chris Neilson, as mentioned on our recent OTF podcast on school matching algorithms.
nothing, except everything. A viral sensation and award-winning coming-of-age film by Wesley Wang, a high school filmmaker prodigy Arvind and I interviewed last week.
Song of the Week: Find Your People
Video on YouTube.
Between friends visiting Austin, the Avalanche holiday party, Santarchy Ball by 1517 Fund, supporting founders, and Nick’s Scenius events, this is the perfect tune for the moment.
Personally. Professionally. The blurry line between. Thanks to all my people for a great end of the year!
“Find Your People” by Drew Holcomb & The Neighbors
You gotta find your people
The ones that make you feel alright
The kind you want to stay up with all night
That won't leave your side when you lose control
The ones that don't let you lose your soul
You gotta find your people
The ones that get the joke
Who understand what you're saying before a word is spoke
You gotta find your people
That put the needle in the groove
When you're together, you got nothing to prove
When you're together, you got nothing to lose
Selfie of the Week
Congrats to my friend Suzanne Fletcher for the launch of Zelda Ventures this week! See the TechCrunch article here. We’re proud LPs, and this is the only hoodie I own.
Thanks for reading, friends. Please always be in touch.
As always,
Katelyn