I love getting a solid cold email or DM from founders! No need for an intro to 1517. Some things will make your message standout and get a response (faster than others)🧵:
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"If you want to build a ship, don't drum up the men to gather wood, divide the work and give orders. Instead, teach them to yearn for the vast and endless sea." - Antoine de Saint-Exupery
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Entitlement is unbecoming in fundraising and dating. I can’t tell you how many times I want to tell someone that they clearly don’t understand consent and that they are coming off as predatory. This is a cold text pitch from this morning.
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Building a startup is really really hard. Don’t do it because you’re running away from something (like school or a corporate job) but because you are pulled towards the mission of serving something else. This is what sustains motivation.
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Used to test for this when I ran the Thiel Fellowship. Him: What do you do? Me: I run a non-profit program for teens in STEM. Him: *Clearly looking for capital and looks like he's smelled a fart* Ends conversation and moves onto the next target. Anyone who actually inquired and engaged in conversation was an easy keeper and someone I'd disclose the full work to. Relational > transactional.
If someone asks you “what do you do?” within seconds of meeting you — don’t be annoyed. Smile. You’ve just identified a transactional player. Instead, give them the lowest status answer. Then drop your highest IQ insights for the rest of the conversation. This breaks brains.
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Had to go to SVB today next to Kleiner on Sand Hill. Saw the uniform in the wild. Nature is healing🪴
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Was 7 years into a relationship when my bf asked for an open relationship. Should have played it like this wife — instead I cried daily for a year. Silly me!
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Pro tip: Don’t assume that women in an e-mail thread are EAs — especially don’t do this when they are your investors.
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“Leadership is not about controlling people, it’s about supporting people” - Prince Harry #UpfrontSummit
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Why are Americans allergic to WhatsApp?
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“deck pics?” Definitely the worst email title ever to send to a woman VC.
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As the founding director of the Thiel Fellowship, it's incredible to see that our program, spearheading massive cultural change about what it takes to succeeded, has gone from being scoffed at by the masses to honored as one of the best accelerators in the world.
Thiel Fellowship may be the greatest startup accelerator ever
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Or we will pay your team $50K to work on a startup. Choices choices.
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As an example, someone who cheated during a Thiel Fellowship finalist round (on a scavenger hunt of all things) is now facing potential time in prison for fraud. It was an automatic out for us at the fellowship but others spent hundreds of millions of dollars to learn the same lesson.
It’s pretty well documented that small infractions lead to larger infractions over time. Agency without virtue is soulless.
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YC’s batten down the hatches email has 10 bullet points on handling the downturn. But no word apologizing for advising founders to over value their companies in what was an insane previous market. It’s not just limited cash that kills companies, it’s impossible caps to grow into.
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It’s pretty well documented that small infractions lead to larger infractions over time. Agency without virtue is soulless.
i learned something about agency when, on my second date with my now-girlfriend, i mentioned feeling cold and she about-faced into the nearest hotel, said she left a scarf in a room last week, and handed me the nicest one out of the hotel’s lost & found drawer
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Huge congrats to the @loom team! 8 years ago we had Chipotle burritos with these 3 amigos, shortly after this photo, we sent a text to make the first institutional investment in the company 🎉🎂🌯
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I tutored a child many years ago who loved learning and our sessions together. She was engaged and moving ahead rapidly. Around 3rd grade she burst into tears telling me that she “didn’t want to be ahead of the other kids anymore.”
Given a child like this who loves learning, most school districts will prevent them from learning for the next five years so that their classmates can catch up
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Conversation with a prospective LP: LP: What’s your LP program? Me: LP program? LP: You know, skiing, meditation, retreats… Me: Our LP program is that we make you money.
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Office hours last week with students wanting to open a boba shop: “Ok, where’s the boba?” “We haven’t sold any but we have these spreadshe…” “You haven’t sold any boba?!” “No” “Y’all are too smart for your own good. You need a table and boba. Not a spreadsheet!” Today:
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Gonna lose my mind: Two female founders with over $1M in ARR, fabulous traction, full year contracts with big players and they're being told it's too early to raise a Series A and have even been asked if maybe their traction to date is "lucky" -- seriously?!?!
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Correct, don’t send her DMs. Send them to me! Belief capital is on the way.
Dear “15-18 yo founder”s sending me DMs, don’t. Go and hug your parents, fall in love, eat chocolate cereal for breakfast, read poetry. Nobody will give you back these years. And sure, do your homework and learn math and code if that feels fun. But stop building SaaS and hustling. Even if career is what you are optimizing for, this is not the way. You need deep education that will withstand automation. You need to sit with linear algebra and probability theory and philosophy and literature. It won’t get you go viral on X but it’ll make you whole. And mute all the SF performative assholes. Oooops sorry this last one was a note to self.
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Prince Harry’s deadpan is gold: “You’re plugging my book? Shameful.” 😆 #upfrontsummit
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If you want to raise a Thiel Fellow, have them participate in a Montessori program, many of the fellows went through Montessori schools as children.
The CFO of Pixar once asked how our middle schoolers learned to self-direct. The answer was not what he expected. This was years before I founded The Socratic Experience, when I created Montessori middle school programs in Palo Alto twenty-five years ago. Half the students had been in Montessori since birth, and the other half came from public schools. No matter how intelligent and well-behaved the public school kids were, they could not be as self-directed as the Montessori kids, at least for the first semester, and sometimes it took a full year. The CFO of Pixar visited as a prospective parent. Seeing the functioning middle school in its second year, he asked, “How do you do this? This is exactly what I want my employees to be doing.” The “secret” was to raise children with the level of agency you see in Montessori videos and then surround them with a substantially influential peer group that incoming students could learn from. One of the most remarkable things about the Montessori middle school children: • They initiated, organized, and played games together • They resolved conflicts and disagreements on their own • Many girls from public schools arrived jaded and guarded, but gradually became warm, open, and authentic after a semester All of these were cultural transformations, a set of norms that transferred from the Montessori-native kids to newcomers as they became enculturated. How much of a student’s long-term success do you think depends on the school culture they grow up in?
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What it’s like to walk past my cofounder in first class on my way to economy.
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Was at a party meeting a friend's new bf. I could tell he was a signal maximizer so I danced around what I do when my friend blurted out "Danielle ran the Thiel Fellowship!" Bright eyed, he said, "Why didn't you lead with that?!" "Because I'd prefer you to know me for me rather than a signal."
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"You don't need fuck you money, you need fuck you essence" ~ a savvy founder
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Super disturbing to watch a lower tier VC try to upend one of their best founders who is *headlining their site* to put another board member in the CEO spot and threaten to sue the founder personally for not meeting the metrics they projected in their Series A deck and gaslighting them into submission.
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Unleashed the spicy today: Me: Yes, X team is amazing to work with, we invested 2 years ago and just followed on with $1M. Early stage investor: Oh yeah, I've been talking to them for two years too [no check yet]. Why do you think other investors haven't gone in yet? What do you think is the team's achilles heal? We didn't invest earlier because PMF wasn't there yet. 👀 🤯 Me: Preseed is about experimentation. Are you expecting perfection right out of the gate? The team executes like crazy and are in paid pilots. Who cares what other investors think, aren't you an early stage investor? ESI: Yes. Me: Ha! **Aggravated tone** Sounds like we've been derisking this investment for you for two years! It's time for you to make a decision about this team. They're incredible and you're going to be kicking yourself when they skyrocket their ARR and you missed the boat. ESI: Right right. Me: Sorry for the spiciness but you gotta make your own decisions! -- I called the founder to tell them that I didn't know if I did them a solid or tanked their chances. 2 minutes later the investor emailed them to offer a term sheet on a priced round. Wonders never cease!
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I want to host a dinner in SF where no one's allowed to talk.
I want to host a dinner in SF where no ones allowed to talk about AI
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If you want to catch an important or busy person's attention, send them a personalized email on a Sunday. Works almost 100% of the time.
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Saying that cofounders have cumulative years of experience is like saying that your household can bench 1K pounds.
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Huge congrats to Dylan and the Figma team! When Dylan started his Thiel Fellowship in 2012, he used the $100K no strings attached grant to get bunk beds for him and Evan to get cranking in San Fransisco. Today, announcing the Figma IPO!!
Sharing an update on @figma: we publicly filed our S-1 with the SEC today, and have applied to list on the New York Stock Exchange under the symbol “FIG.” figma.com/blog/s1-public
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A teacher, a philosopher, and two dropouts just finished raising $80M for 1517 Fund III! We are so excited for what's next! Onward and upward (and with a lot more capital to head in that direction)! Here is how we're excited to grow into an institution and continue our mission:
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Big win for the dropouts today! Huge congrats to @zoink and @VitalikButerin! Kudos to Thiel Fellows, mentors, and @thielfellowship who supported these two on their atypical path from the start. An extraordinary life and career can be created w/o college.
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What's the next big thing that no one is paying attention to?
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One big takeaway from running the Thiel Fellowship and 1517 is that though capital isn’t scalable, granting permission is. To someone starting out, being taken seriously by engaging and offering ideas, intros, and encouragement can give them energy to keep going.
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Michael and I would love to be on bigger podcasts about this, but honestly, have no idea how to get noticed by those players. Help?
Replying to @DStrachman
Why haven't you been on every single important podcast in the world as one of the world's leading experts for ultra-high potential talent recognition? I would listen to every episode!
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Their entrepreneurship class had them working on a business plan (for a couple of months!!) instead of working on the actual business. Your business — 👏MUST👏MEET👏REALITY👏 They sold out in 45 min and had a line of 70 students. We need entrepreneurship lab not class!!!
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Replying to @rorowonders @sama
This is one of the clearest, most honest, and actionable no’s I’ve seen. Investors take note, this is how it’s done.
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Times are changing. I’m at a deep tech company investor meeting and over half the investors are women!
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New album drop!!! First close of 1517 Fund IV! Less than 15% of funds make it to Fund IV so this is a huge milestone for 1517 as we grow from being emerging managers to an emerging firm. Watch out world, we're in this for another ten years!
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Judging by our Flux applications -- biotech is the biggest new tech wave. Bigger than space, bigger than AI, bigger than robotics.
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Replying to @ScottHickle
I mean, maybe this is testing for novelty though. I’d have no problem sitting by myself with my own thoughts but given the option to try something novel, I pick novel here. My eyes lit up “hmm how shocking is it?”
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Holy moly! Just crested 20K followers. All organic, have never hit the promote button.
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For the low cost of $1295, I too can be selected for Inc’s Founder-Friendly investor list. Yo! I’m very founder friendly. No board seat, I trust you to operate your company, and I won’t text you asking when the markup is coming. Email is danielle@1517fund.com Tweet cost $0.
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1517 is interested!!!
Who wants to go in on buying this 57-bedroom seminary in Cupertino? It's got amazing bones!
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Replying to @moonandmouth
Can we have a chat group where only your mom posts pics and we just get to emoji them and say how amazing they are?
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Most people aren't given the freedom and encouragement to dive as deep as they want in their passions, nor to develop themselves as a near eccentric in that space.
Could someone who is a professional talent picker (VC, scout, etc) Give a sincere answer to why are exceptional people so rare to find? I feel like when you find someone who’s good, they are so much better than the next marginal person it’s crazy!!
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How it Started vs How it's Going Dylan's 2014 Thiel Fellowship update ➡️ Today at the NYSE
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Excited to launch 1517 Medici Project! We believe that patronage is a great way to get young people started on their work with a no strings attached $1K grant and community. We don't own you, your projects, or any part of your future. Let's go! 🚀 1517fund.com/post/1517-medic…
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"My property and wealth will pass on to my kids long before I die. It’s much better to give them a head start than to have them be middle aged before inheriting." This meme needs to come back in full force. Institutions would have you believe that you are better off donating your money to them instead of setting up your family and friends for better futures.
Things I am changing generationally: My kids will stay at home and save $ while working until they have a really good reason to leave home. My property and wealth will pass on to my kids long before I die. It’s much better to give them a head start than to have them be middle aged before inheriting. All of my kids will be forced to invest X/week. Non-negotiable. This may require a two hour conversation with a calculator. The emphasis is on dynasty. They are working together as family to get ahead. I help them, they help each other. Money, prospects, network, etc. Potential marriage partners must be vetted b me and my wife. Nobody is going to rent property, ever.
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Replying to @VCBrags
LI profile says it all: "Proving the person who told me 'You will never amount to anything' wrong, 1 business at a time." Spite is great motivation for building businesses and ruining families. Also sounds like intergenerational trauma too. Feeling sad for this whole family.
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Feeling proud of what we've built today at @1517fund! Just reached over 5000 community members, 200+ portfolio teams (that's over 500 founders!), and 850+ coinvestors. All hand curated and relationship driven 🥰
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People need to be Montessori maxxing
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An investor is attempting to jump on "angel" investing in one of our grantees. The offer is $100K for 20% of the company (far too high) and is asking the founder, among other questions, to answer: "How do you think about me and the fund playing the role in your autobiography?" ⛳️ red flags galore
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“The most underrated competitive advantage is not genetics, money, or talent. It’s action.” - Arnold Schwarzenegger
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Investors don’t like to hear this but our best companies don’t write updates 🤷‍♀️ We have checkins with our founders so we don’t need a written form from them. When they are doing well we “surprise attack” them with more capital. Do things that don’t scale with your founders. Huge upside.
Founders who share monthly updates with full metrics gain the most trust from their investors, and certainly have higher likelihood to get more capital later. It’s amazing how few do this.
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“I know a guy” is an endlessly powerful resource.
the real measure of wealth is how many problems you can solve by calling one of your friends
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Flux applications are open! Due by May 11th! Send us your wily, your weird, your renegade scientists reaching for glory. We offer $100K investment, a cohort of peers, and $1M in follow on capital for those making fast progress to bring us back to the future! (1/2)
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Moving into our vintage garage days at 1517
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Why is a pitch deck sent in PowerPoint almost always a bad sign?
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The best Thiel Fellows and 1517 founders haven't gone through YC or any other accelerator. Keep going!
Rejected from @ycombinator - good time to reflect on those who believed in me. Thank you @Meta, @localhostHQ, @Lvlupvc and @1517fund for pushing education forward 🤝
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Bought my mom a house when @luminartech had their IPO in 2020. Nothing feels as good as housing security for her. I'm forever grateful to have been able to do that.
Vinay wired $1.7M to his parents just before selling Loom. said it’s the coolest thing money has ever bought him.
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Talked to an aggressive founder pitching today, exasperated I cut him off, “You’re just really abrasive and I don’t see wanting to work together.” And then he did the best ninja move ever, “Mmmm how can I do better?” And his tone was genuine. We have another call next week 💗
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Fundraising rounds are crazy -- but in both directions. The majority of crazy you'll see on Twitter is full of survivorship bias. There are founders out there with great companies struggling to raise. If you're one of them, keep on keepin' on. You're not alone.
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What do Larry Page, Beyonce, Sergey Bring, Jeff Bezos, Taylor Swift, George Clooney, and Prince Harry have in common? They all attended Montessori schools. You need to be Montessori Maxxing!
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We've got millions to deploy. If you're working on something cutting edge, something crazy, something deep... Flux is for you. 4 months, surround yourself with likeminded peers, and receive $100K in funding with the opportunity for $1M more. 1517 Fund is opening up applications for Flux! Applications close May 11th. 1517.smapply.us/prog/flux_ca…
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I'm done... Bro VC: "Hey, could I ask for your help on something? For my fund, I recognize content is part of the game now. So I wrote a pretty extensive research report I’m going to share on LinkedIn. I plan on posting it next week. Would you be open to sharing it (would love a little quote if you don't mind :) It would help me a ton." Me: [Opens report to see that yet again they are leaving their amazing female hire off of the report -- this is a 4 person team and they have already done her wrong by giving her a very junior title] "As much as the content is good, I have no idea why you all can’t wrap your heads around including [female team member] in your work. I can’t reshare/promote while you won’t promote a woman on your team."
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Replying to @Adam198110
I didn't want dates, I wanted the relationship I had...but had I to do it over again, at the "let's open" I would have started dating that same day.
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If you want to better understand how a teacher, a philosopher, and a small team were able to create the Thiel Fellowship, read Michael's book "Paper Belt on Fire."
Thiel Fellowship may be the greatest startup accelerator ever
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Twitter fam, the impossible is happening — I’m adopting a puppy on Tuesday! Meet Maui the chiweenie (likely, he’s a rescue). I have done a bunch of reading and also have no idea what I’m doing (I am a cat person). Pro tips?! How do I think like a pack leader?
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Wily young maker? You need resources, we have answers! See the tabs for grants, cohousing opportunities, and lab spaces for cracked weirdos. Share with those you want to see build the future! docs.google.com/spreadsheets…
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Proud to announce that 1517 has been selected to present at the 2024 @RAISE Global Summit! Only 17% of funds make it to Fund IV -- and we'll be officially launching our fourth fundraise with some wily slides! You gotta be there to see them (made by a 1517 grantee too!). Exciting times ahead! Let's GOO00oooooooo! raiseglobal.co/raise-select-… #RAISEGlobalSummit #EmergingManagers #VentureCapital
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Undergrad, high school, and dropouts -- I want to fund you with $50K to work on getting started on research and development for the deep tech, science, and technology plays of your dreams. Send me your geekiest ambitions! 1517fund.com/post/invisible-…
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We don’t talk enough about the lost lives from elite universities. MIT is responsible for Aaron Swartz’ death and elite universities are responsible for the death and grueling depression, anxiety, and suicide attempts of some of our brightest minds.
Aaron Swartz would/should be 38 years old today.
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Young man, your future children implore you to STOP SMOKING!! ICK!!
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Hunting for the next dropout decacorns at 1517!
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Best fail I heard all week… 🗣️Founder pitches over zoom. ✅ Firm debriefs right after. 🥵 “Hey guys, whose notetaker is this?” 😆 Absolute silence
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In case you’ve felt productive today... "I have offended God and mankind because my work did not reach the quality it should have.” ~ da Vinci’s last words.
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The 1517 way isn’t just about how we work with founders…it’s about how we run our fund: We invest as much as we can in startups. This is why we have only taken 50% of our management fees (2% total) and plowed the rest into startup founders. A substantial portion of our budget goes into community events (including travel stipends), founder perks, and travel to see makers in person. While salaries are lean, all full time team members have carry in the funds and SPVs — incentivized by incredible founder outcomes. Building a firm and legacy takes focus, discipline, and strategy.
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Ethan started as a grantee with 1517 in high school and we made the first investment check into the company. Our whole thesis at 1517 is built off asking "I wonder what could happen when giving young people resources before they've 'proven' themselves?" Well, this is it...and there are many more to come.
Show. Don't tell. Mach Industries.
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How about instead of trying another social app, you call a friend?
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Leave people better than you found them
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Was at a dinner party last night where someone negatively used the term "childish" to describe highly creative and high on openness adults. 1. Denigrating children or the qualities therein points to larger systemic and memetic issues. We should all aspire to return to being more childlike. The essence of our creation. 2. The environment children (and all humans) are in matters. Environments that encourage your spirit are the key to unlocking human potential.
In 1968, George Land tested 1,600 children's creativity using a NASA-designed assessment. Results: 98% of 5-year-olds scored as creative geniuses, dropping to 30% at age 10, 12% at 15, and just 2% among adults. They were programmed out of creativity by conformity.
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He’s so blatantly bad that I don’t even need to dig a hole for him. He’s bringing his own shovel.
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We've lost the ability to pay attention to incredible futures. Marathon Fusion dropped this insane bombshell last week. They're blasting mercury into GOLD. But we're all too dopamine pilled selling our attention to cheating CEOs. Yawn. Get back to science.
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A deck is marketing material for getting a meeting - not for landing the check. Our best companies (who y'all know and love) have had some of the worst decks we've ever seen -- super rocky assumptions and terrible design. Also surprisingly, our best companies don't send regular updates -- they are busy building their companies. Investors love to go on and on about how important great updates are on the regular. Stop trying to please the Patagonia vests and go build.
One of the biggest lies in startup land is that fundraise success is directly related to how good your deck is Sure, a clear well laid out deck is great but it is very low on the ranking of most important items
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VCs acting like VCs is the worst 🤦‍♀️🤢🤮
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What a difference then years makes! 2010 Thiel Fellowship Launches: “You’re going to pay kids to leave school?! Preposterous!” 2020 The Invisible College Launches: “Wow, this is awesome and innovative. Great idea! So needed!” 1517fund.com/post/invisible-…
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I am stupid allergic to people who don't answer questions in a straightforward manner.
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Some advice that probably scales: Start aligning yourself towards a north star and start walking! May the muses of inspiration strike you greatly with clarity and your feet carry you the distance!
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Also exhausted having a male author erase my agency and hard won wins as a female founder and investor. 1517 was my idea, not Peter's.
Contrary to the libelous text below, Peter was grinning from ear to ear when we approached him to leave the foundation and start 1517 based on our indisputable success with the Thiel Fellowship. "We are going to do this! I'll be an anchor."
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Cost of booking a conference room in LA: $1K Cost of borrowing @ADoricko office and having a complete 1517 x Rainmaker crossover: Priceless!
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Flux starts by investing $100K in wily scientists to test their crazy ideas -- if all goes well, we come in for another $1M+ within the year! Applications open April 23!
On April 23, we're opening applications for our $100k investment for garage science startups. More info in the link below.
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Teens and people in their early 20s ask me how to get into VC often. Go operate something that pushes your comfort zone. You will be a much better support to your founders if you’ve had to do things that make you uncomfortable like raising money, managing others, firing, etc.
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1517 is hosting a party at the end of the month to officially launch our Fund IV, celebrate our new Flux cohort, and welcome the Atelier Missor sculptors to the Bay! If you're not on our invite list, comment or DM me about your wily ways 🥰🤪
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