Texas Sun
w.221 | Startup Growth, Layoffs, China, SaaS Predictions, Viral Charts, "Write the Right Stuff"
Dear Friends,
Welcome to February! Time marches on.
It’s been a busy week with Meta’s mega dividend, the Vision Pro release, an atmospheric river headed for California, and so forth. We won’t cover those things this week.
I’ve done my best to curate good reads and enjoyed the Texas sun. On to the next!
Today's Contents:
Good Reads: Sensible Investing
Viral Charts
Song of the Week: Texas Sun
Good Reads: Sensible Investing
Cool Startup Growth Calculator to determine when a company hits breakeven, how fast it needs to grow, and what benchmarks to use to manage expenses.
Indexing vs. Investing: Good reminder on Twitter about very online active managers:
These charts are crazy. $1,000,000 invested in funds led by Cathie Woods & Bill Ackman versus just putting into an S&P500 index fund over the last 8 years. No clue why anyone would trust these funds versus just betting on the market.
Layoffs Are Still Happening. 122 tech companies have laid off 31,751 employees so far in 2024 according to Layoffs. FYI.
The State of the SaaS Capital Markets: A Look Back at 2023 and Look Forward to 2024. Predictions on the Trends Shaping the SaaS Industry. From Sapphire Ventures.
They Write the Right Stuff. “As the 120-ton space shuttle sits surrounded by almost four million pounds of rocket fuel, exhaling noxious fumes, visibly impatient to defy gravity, its on-board computers take command.” Well-written essay on the importance of software.
‘Uninvestable’: China’s $2tn stock rout leaves investors scarred. Some global fund managers fear government efforts to stabilize the market are too little, too late. In the FT.
Venture Capital: Shedding the "Access Class" Label. Paper and industry analysis by Stepstone, leading Fund of Funds.
Viral Charts
And a nuanced response here.
Song of the Week: Texas Sun
Video on YouTube.
I’ve never lived anywhere before where it was legitimately warm during the winter months. And it’s so…nice. Except for a few days, it’s been in the 60s and 70s here in Austin, and the air often feels warm because of the Texas sun. I’ve been having walking coffees, outdoor lunches, and long walks around the lake in a short sleeve shirt. For the first time, I don’t feel the need to travel somewhere in the winter to escape a tinge of seasonal depression.
The weather shapes the attitudes and behaviors of a place. The sun is an energizer and brings positive optimism. (And, yes, I’ll see respite elsewhere in the summer!).
“Texas Sun” by Khruangbin & Leon Bridges
You say you like the wind blowin' through your hair
Well, come on roll with me 'til the sun goes down
Texas sun
Say you wanna hit the highway while the engine roars
Well, come on, roll with me 'til the sun goes down
Selfie of the Week
This week, I got lunch with Zac Solomon, the CEO of Startup Social, a community of startup founders and investors. This is the Austin equivalent of Lunch with the FT, one of my favorite newspaper columns.
He rated it a 10/10 and gave me a lovely review on Twitter. Things he referenced that we chatted about in case you are interested - How to Be Cool (or Not) and The Bartender at Whistlers (the ONE).
Thanks for reading, friends. Please always be in touch.
As always,
Katelyn