Over the years, I have tried to share learnings from my startups and seed investing. Decided to combine my startup tweets+tweetstorms into a tweethurricane. Here are my learnings + advice, from pitching investors to getting through the journey:

“If you need encouraging words, don’t do a startup” - best Elon Musk quote on Clubhouse.

Respond to this tweet with a startup idea. I will tell you whether I would take a investor meeting or not and why for that idea, assuming it came in from a strong warm intro. I can tell in 280 chars whether an idea is interesting to me and why. Maybe it will be useful feedback.

Hear me out here @elonmusk: What if Twitter launched an Instagram competitor? 🤣 The basically have no competitor.

There is some cognitive dissonance in using 🧵 (the new meta app) It’s currently a bad copy of Twitter. The only reason to use it is if you are anti-@elonmusk. But it’s hard to believe someone is anti-Elon but pro Meta having a full social monopoly. Am I missing something?

We are hiring an US-educated engineer who didn’t get an H1b and instead is going to work for us in Canada. He is now going to build a life and pay taxes in Canada. In the remote world talent can be anywhere. Our bad immigration policy is directly leading to lower US GDP!

Google Calendar has trained me to think that a Google Meet link on the invite is probably a mistake. That one decision has completely ruined the GMeet brand. Doing bad/dark UI patterns to pump up usage numbers might be good short term but an awful long term decision.

Founders should take weekends+vacations off: 1. Time to think high level outside the daily grind 2. The last 10% of time is the least productive 3. Avoid burn out I used to feel guilty about it, but now I see it as essential. Startups are a 10+ yr marathon not a 3 month sprint

I am constantly flipping between: 1. We are in a huge asset bubble that will crash soon 2. US printed so much money which will result in a lot more inflation and assets will appreciate more Where do you think we are?

Emmett Shear should next broker peace between Israel and Palestine. His new found skills must be put to good use.

Something that blew in mind when I heard it: 2% management fees on VC funds are not one off but every year for 10 years. The 2% management fee is 20% of all LP funds! Even if the fund has negative returns the fund managers get 20% of the fund. That’s $200m on a $1bn fund!

US Series I Bonds seem like a great deal: - $10k/yr/family member - 1 year lock-in - 9.62% (adjust every 6 months with inflation) - compounds - no state tax - US govt backed issued by the treasury Mostly a no-brainer. You can get them here: treasurydirect.gov/indiv/res…

My first ever “venture” round was a $500k raise at $2m valuation. It cost $35k in legal fees! We just launched ability to do SAFE for free using your Mercury bank account. It’s smooth too, every SAFE gets a new account number, no more wondering which investor sent the $10k.

1/ Today, @Mercury announced a $300 million Series C in a mix of primary & secondary funding at a $3.5B valuation, led by @Sequoia, with participation from @sparkcapital, @MarathonMP, @coatuemgmt, @CRV, & @a16z. I’m deeply humbled by the growth we’ve experienced. 🧵

Still crazy to me that almost 2 years after ChatGPT launch none of the home speakers have great LLMs. When will Amazon Echo/Google Home/Apple HomePods ship with modern AI?

Respond to this tweet with a startup idea. I will tell you whether I would take a investor meeting or not and why for that idea, assuming it came in from a strong warm intro. I can tell in 280 chars whether an idea is interesting to me and why. Maybe it will be useful feedback.

1/ Every 2 months I do detailed investor updates. It allows me to get out of a tactical day to day mindset and think at a high level. An entrepreneur asked me what format they should use so I thought I would share mine here with wider community.

A surprising thing I learnt recently is that the Bangladesh GDP per capita is higher than India (and almost 2x Pakistan). 10 years ago the Bangladesh GDP per capita was almost 2x lower than India. Incredible achievement from an often underestimated country. How did they do it?

Bankers won’t reinvent banking. I spent 6 months at the start of Mercury trying to find a “banker” as a cofounder or early employee, and couldn’t find anyone that had the right entrepreneurial+product mindset.

It took 4.5 years and ~$1bn raised for OpenAI to launch GPT-3, which was their first PMF product. That breaks every “rule” in the startup world, around mvp and being capital light pre-pmf. Goes to show you that you have to define your own rules to get outsized success.

We hired someone great recently and one of the primary reasons he left his company was that they were returning to the office in a few months and he had moved. Feels like remote friendly companies will win a lot of talent in the coming months.

Amazon’s usage of gen AI to summarize reviews is really well executed.

I am surprised how many people are into startups but don't read/watch sci-fi. If you want to invent the future then I highly recommend reading a lot of sci-fi. Sci-fi authors have spent a lot of time imagining and writing out potential futures.

1/ Early founder who are not already wealthy should probably take early acquisition offers. In my last startup we started in 2009 and could have sold in 2011. Instead we decided to go for a “home run”. Took us another 5 grueling years to get an exit only 2x bigger.

Y Combinator valuations are up from 1 year ago. Rest of seed market will prob follow This YC batch: Pre-revenue in non hot market: ~$15m (was $8m) 2nd time founder and pre-traction: ~$20m (was $12m) $30k+/month/revenue or hot market: $25m+ (was $15m)

1/ Before writing a startup deck or pitching investors you should identify the nucleus of your story and how it could be a $1b+ company. This should be a two sentence story that you then build the rest of your pitch around. And you should truly believe in your story.

What are the chances that @elonmusk becomes a trillionaire in the next 10 years? Currently:: 42% of SpaceX $350bn 20% of Tesla $1.37tn Large percentage in X, xAI, Neuralink. Currently he is worth $400bn. Seems almost inevitable.

1/ MERCURY PERSONAL is finally here! Get all the power of Mercury — now for your personal account. Up to 5.00% APY savings*, $5M FDIC insurance**, free domestic wires, for a flat $240/yr fee. Get on the waitlist: mercury dot com/personal-banking

Presumably the carriers are making money from this. Same reason USPS instead of solving junk mail, it is the main cause of it.

We worked all weekend to launch Mercury Vault: * $3m in FDIC insurance via partner banks * Short term US govt t-bills for >$3m deposits via Mercury Treasury * Dashboard to help you understand and automate where your money is Will be improving it all week!

1/ After 2 years of hard work we are finally launching Mercury and opening signups to everyone: mercury.co thread..

1/ Doing startups is hard! @mercury is my fourth startup, my first two startups failed and I continuously faced roadblocks along my startup journey. That’s why I’m excited to introduce the new Mercury Raise: one platform to help founders fundraise, network, and get answers.

My 11yo daughter made this sick stop motion video. Proud of her :)

Having a successful startup doesn’t mean you can’t have a family. When my wife and I decided to have a kid, our situation wasn’t ideal. Here’s what I mean: 1) We lived in a one-bedroom apartment. 2) I’d launched 3 startups but hadn’t made it big. While I’d just raised $3m, I was paying myself the bare minimum to survive. 3) None of our friends had kids. People in our circle thought having a family was a negative thing. But we did it anyway. Even though everyone thought we were crazy. Some parts of it were hard. Not having a community around the experience of parenthood was trying. Lonely, even. But even given our extreme circumstances, at no point did I regret having a child. Just like in entrepreneurship, being a parent has had its ups and downs, but at the end of the day, it’s a continuous source of joy and meaning.

1/ Today we're announcing @BankMercury's Series B We raised $120m @ $1.62b led by Coatue @a16z, @crv, @sapphirevc participated as did incredible entrepreneurs like @typesfast, @mathildecollin, @jaltma +we are including a $5m crowdfund for our customers

Startups with <20 people wondering what management practices to follow? Should you do OKRs, DACI, single threaded leadership, QBRs, leveling etc? The answer is: NO You need that stuff when you are too big for founders to have full context. Just ship and listen to customers.

$13.00 a week. At my lowest startup point (2009), that’s how much money I was spending on food and life (excluding rent). Each week, I would have the same rice, lentils, vegetables, and chicken (and it definitely wasn’t organic). I’d get invited to parties in San Francisco, and while I’d go to connect with others, I’d also go for the free pizza. The financial strain is real. I’m lucky in that I don't need too many things. I don't need to go on holiday, and I don’t require a Tesla. But watching your company’s bank account go down as your own account goes to zero is exhausting. Here’s what I did to stay sane: Make a timeline. Establish how long you’re going to keep at it. Determine your next milestone and how to get there, then avoid worrying about it day to day. Stay focused. I’ve never thought side-gigs were a good idea. It’s better to maximize the success of what you’re trying to build. If it's not working, then do something else. But don’t get distracted. Seek out your support systems. Whoever it is—family, friends, spouses, or partners—go to the people who give you support and be authentic with them about your struggles.

For software startup you should almost never get a patent. In my 2nd startup we spent months applying for 1, the startup failed because we didn’t make money and the patent was useless. As an investor patents are often a red flag as they show you are focusing on the wrong thing.

1/ Excited to unveil Mercury Raise today - a program to directly connect our early-stage startups with top investors. We have 40+ investors in the program including @eladgil, @alisonbarrallen, @shl, @ryanhoover, @a16z, @sequoia and @crv. mercury.com/raise

Although we compete with SVB, I have always had a lot of respect for them. They gave my previous company a loan that helped us survive and took me to my first and last Gaga concert. It’s sad to see them go through this difficult time and hope they make it to the other side.

Me in @mercury slack today...

Completed our 2nd board meeting where we did a 6-page memo rather than a deck. Has worked so much better than I expected. I highly recommend it. Here is the rough outline for our board memo: 1. Top 3 things going well 2. Top 3 things to improve/watch 3. Main business/user KPI charts 4. 2-3 deep dive topics 5. At the end of each deep dive topic have open ended discussion questions 6. Appendix (pages 7+) - full of the more usual status updates that the board needs to be aware of. Send it out 3 days before and everyone reads it before the board meeting. Spend all the time in the board meeting focused on the most important discussions. Unexpected benefit: I am a lot more proud of the board memo than I was of any of our board decks. The memo is well thought out and structured and explains all our thoughts without needing to be talked over.

Imagine you could drag an invoice into your business bank account and have it OCRd and then just click pay to pay it. No need to imagine it, Mercury just shipped that:

Mercury is going to setup a Canada office, partly because the US no longer has a visa for skilled labor: - sends money out of the US to CA. - pays taxes in CA. - talent may found future companies in CA, compounding the advantage. It’s a huge loss to the US and gain to CA.

For distribution startups have 3 main choices: 1. Give away your margins to Fb+Goog with Ads. 2. Build a big sales team and go enterprise. 3. Create a community and own your own “media” to get free distro. I prefer the 3rd option, it’s most aligned with customers + product.

I learned recently that every time someone walks into a bank branch it costs the bank $300 to serve them (amortized). Neobanks fundamentally change the economics of banking, it’s going to be impossible for incumbent banks to compete.

1/ Is your burn too high? As the 2022 fundraising market is turbulent I have heard a lot of founders asking this question. Here are some frameworks I use: A. Runway B. The Rule of 40% B. The Burn Multiple

Don’t give away startup equity to advisors. A. successful people will advise for free to give back B. successful people can invest C. If A/B fails: hire them as contractor with defined deliverables and pay equity monthly. Some rare exceptions - eg. branded scientists.

1/ Excited to share I’ve raised a $26M venture fund to back early-stage founders. @Mercury is still my 100% focus but I’m formalizing my angel investing in this fund.🧵

Prepping for @Mecury’s first board meeting of the year this week and reflecting on 2023. Feeling thankful for the team's hard work and our customers' trust in us. In 2023 we: * Grew net revenues 180% YoY * Grew customers 60% YoY * Grew trx volume by 90% YoY to $95B in ‘23 * Grew team from 440 to 565, and planning 100+ more hires in ‘24 * Had 6 consecutive quarters of cash flow and EBITDA profitability @Mercury’s growing, we're profitable, and we’re continuously delivering great new products/features. Excited for 2024!

Pretty crazy that Y Combinator funded Airbnb (W09), Doordash (S13) and Instacart (S12) all when yc batch sizes were less than 100. Now the batch sizes are consistently >200 we will probably be seeing monthly YC IPOs 2025 onwards.

Have many ex-Amazonians made big startups? Seems like Amazon’s leadership principles and organizational structures are the best at cultivating internal new products among big tech. Wondering if that extends outwards.

Just had someone hit a fun bug in @mercury onboarding: They needed to set an incorporation date in the 1800s and we didn’t allow that!

Sometimes founders don't realize that coming into a market with fresh eyes can be your greatest advantage. When building Mercury, I found that people who knew too much about fintech were less likely to invest. I've experienced this from both sides. As an investor, when I see fintech companies, it's hard not to immediately see all the problems they'll face. You try to be optimistic, but if you know too much, it's definitely harder to see past the obstacles. This pattern extends beyond fintech. A successful hedge fund manager recently shared that he was excited about a startup trying to disrupt hedge funds precisely because "they know nothing about hedge funds." Otherwise, they'd just apply the conventional approaches. Sometimes the most transformative products come from founders who aren't constrained by industry assumptions about what's possible or "how things are done." Our latest Founders In Arms episode explores this paradox of expertise - how knowing "too much" can blind us to the very opportunities that outsiders can see with perfect clarity. Link to full episode in bio.

I thought this was common knowledge but apparently its not: If you are a funded startup founder with illiquid stock then you are almost certainly an accredited investor. You just have to have an accountant or lawyer sign off on it. Now you too can invest in other startups!

Its crazy that the seed, Series A (Accel) and Series B (A16Z) investors in Slack invested in a completely different company Tiny Speck that then pivoted to Slack. A successful pivot after a series B is unheard of. There are no hard rules in entrepreneurship/investing.

To commemorate @mercury’s 5 year anniversary we took a full page ad in the Sunday NYT. Thanks to all the 615+ incredible people for their continuous dedication to the product and customers. And for making it a great place to work.

Dilution really adds up. Pre-seed: $1m @ $5m 20% Accelerator: +7% Seed: $4m @ $20m +20% Series A: $20 @ $100m with 10% options pool +30% Founders now own 42% shares. And the journey has just beginning with the A! Avoid rounds completely or do them at <10% dilution if you can.

The founder's hedonic treadmill never stops. Hit $1M ARR? Now you need $3M. Hit $3M? Time for $9M ARR. Become a unicorn? Look at those $10B companies. Reach $10B? There are $100bn-dollar companies out there. When it comes to being a founder, you're constantly planning the next thing. Each target feels more daunting than the last because it's something you've never done before. You have to remember to enjoy the journey because the destination is always further away. Maybe Elon isn't worried about the next milestone. But for most founders, success just moves the finish line further away. It’s the best. 🤣

Here is the simple “management process” we did for <20 startup: * daily 10 minute eng standup * weekly 30 minute all hands. * every 2 month investor update that sets out product + KPI goals for next 2 months and 2 month look back * monthly 1 on 1s with direct reports * week per team standing meetings for non product Everything else was building.

This is a hard day for the startup community. I’ve got a ton of respect for SVB and deeply understand how stressful this situation is for their customers and employees. We’ve been hard at work at Mercury to quickly onboard hundreds of customers and provide as much peace of mind as possible. I’ve gotten some questions today about Mercury and our partner banks that I want to address. Mercury is profitable and growing. We work with partner banks who operate sweep networks to spread deposits across other large, trusted banks (e.g. Goldman, Wells Fargo). This allows us to offer $1M in FDIC insurance, and reduces the risk of any single point of failure. Customers can also put money into Mercury Treasury to buy mutual funds, including US Gov-backed T-bills (accounts are SIPC-insured up to $500K). This is a great way to diversify where your excess funds are held. Our partner banks are diversified across multiple industries, not just startups. They've stayed disciplined on investing throughout the low-rate environment & have kept their bond portfolio with short durations, meaning there’s no big mark-to-market risk. We’re committed to giving all our customers, new and existing, an unparalleled banking experience that you can read more about here: mercury.com/how-mercury-work… DM/comment me if you have any questions or feedback.

19 years of grind across 5 startups to get to $4b acquisition with Honey. Wow

.@paulg defending @Suhail from Twitter trolls is really beautiful content. I distinctly remember in 2009 when @Suhail did the Mixpanel pitch at demo day and @paulg was enthusiastically giving him feedback. Still supporting the same entrepreneurs 12 years later.

Today, is the 5 year anniversary from when we launched Mercury! Pretty exciting to launch Mercury personal exactly 5 years later.

People say that they feel happy and euphoric after exercise. I feel generally cranky and tired. What am I doing wrong?

In the last two days @Mercury has had more signups than we would normally would in a whole week. We also have two more big product announcements coming later this week. The team is firing on all cylinders!

I am having another baby in a few months. What are cool gadgets that have been made in the last 5-10 years that are a must get? (I love baby gadgets)

This was one of those weeks that is hard as a founder, and it was harder on some of our customers. We made the difficult decision to add to the list of countries Mercury can’t support if founders reside or their businesses are headquartered there, including: Ukraine, Nigeria, Pakistan, Croatia, and the Philippines. Impacted customers were notified on Monday that they would be offboarded. To give more context: the number of customers in these countries is very small (<1% of Mercury deposits), but it was putting a lot of strain on our operational teams and all of our financial partners (partner banks, treasury, payments, etc). We’ve seen the regulatory environment become stricter recently, which has made us change our approach to certain situations. Ukraine in particular was a tough one. There are a lot of great startups in Ukraine, but about 20% of Ukraine is sanctioned. Verifying and monitoring which part of a country someone lives in to a high standard becomes highly complex at scale and the penalty for making even one mistake is large. While this week’s decision was hard, we also know that this is a decision which will help Mercury move our compliance program forward and enable us to better support founders in these regions in the future. As an immigrant from Pakistan myself, I have a lot of empathy for international founders and sincerely apologize to the founders impacted by this decision. While we aim to eventually solve all complex problems related to banking, this is unfortunately not one we can solve overnight. We will continue to revisit this policy and hope that we can change this in the future.

Gitlab IPO values it at $11bn, hard to believe GitHub sold for “only” $7.5bn in 2018. Presumably GitHub would be worth ~5x more today. Just got to HODL.

Over 50% of unicorn founders are immigrants. That's a massive skew compared to the general population. Here’s why I think this might be: 1. Selection bias: It takes a lot of courage for people to move to a different country. The types of people who do this are likely the same ones who become entrepreneurs and try big things. 2. Outsider perspective: You need to be able to see what's broken to know what to change. Immigrants bring fresh eyes to old problems. 3. Trained for struggle: If you've already struggled as an immigrant, you're okay with struggling more. You've been trained for it. It hardens you in a way. 4. All in, no safety net: There's pressure to make the immigration journey worthwhile. It’s not like you can just say “Well, I tried” and move back home. You have to make it work. This drive seems baked into the immigrant experience. Anyone else feel this way?

The Elon Musk book by Isaacson was a good read: * Elon is very focused on broad visions for his companies: like SpaceX going to Mars or carbon independence at Tesla * portrays Elon as super intense and action hungry * A lot of his work at these companies seems to be focused on “surges” where there is intense activity around a (often arbitrary) deadline * These companies are successful partly because the top execs at them have learned to manage around Elon and ignore him when he is wrong * at his companies there is a culture of saying yes to everything Elon wants. Which sounds bad but also leads to accomplishing amazing things at times * He is continuously thinking about his companies and basically never stops even when he is at parties * He has a strong superhero complex and feels like he needs to save humanity via technology * He always (recklessly) goes all in. Even after selling two companies and being a hundred millionaire he almost goes bankrupt with betting it all on Tesla and SoaceX. He later pushes his finances (somewhat) to the brink with Twitter * It makes some parallels between Steve Jobs and Elon Musk around there intensity and how they were both sometimes unliked. Incredible how much Elon has achieved and he is only 52.

Respond to this tweet with a startup idea. I will tell you whether I would take a investor meeting or not and why for that idea, assuming it came in from a strong warm intro. Hopefully it will be useful feedback!

In 2016, when I started investing, it was understood that seed startups are illiquid for 10+ years. In reality, every company I invested in that’s is now worth >$200m has had secondaries for early investors. This increased liquidity makes this asset class a lot more attractive.

There are almost 7.8b people in the world. My mental model was still anchored to 7b, but we are almost at 8!

Last week, we had 70 leaders at @Mercury in our new SF office. Feeling pretty excited about what we have accomplished and our plans this year: * 8 quarters of profitability with more money on the balance sheet than we have ever raised (>$163m) * Q1 was our best quarter in customer growth and revenue (and Q2 trending stronger). March 2024 beat the SVB surge of March 2023 * 200k+ customers and 640 employees * Talked a lot about becoming a multi-product company with the launch of Mercury Personal, bill pay, invoicing and reimbursements * Thanks to @gokulr and @tarstarr on giving great talks on building multi-product companies at scale

B2B startup: its better to build for self-service from day 0 a) Forces you to make UX intuitive b) Allows you to get bottoms up growth c) You can access lower ACV use cases. Its harder than it seems to build out self-service post launch when you have live user demands.

1/ A counter intuitive thing about fundraising is that you should always optimize for the medium success case. Upside scenario: you have sick growth, it’s a bull market. You will be fine no matter what. Downside scenario: you have no traction/product. You will have to quit/sell

A seed investor told me that >30% of the investments he does are to companies using Mercury bank accounts. Pretty crazy considering we launched less than 2 years ago. But still have at least 70% (and probably more) to get!

We (startups) need to create a system that tries to find people who do this: A) KYC everyone B) have some automated AI way of doing reference check C) keep private records of people trying to work multiple jobs. Wondering if Mercury should build this and give it away for free.

I have a few lessons about “how I CEO”. I mostly don’t share them because Mercury is still relatively young and not obviously true that the way I CEO is the “right” way. Would people still find these lessons useful?

New front page for @Mercury is live to everyone now. Check it out and tell us what you think!

When pre-product market fit avoid growing team above 10 people (unless you are hardtech). With huge seeds you may be tempted to grow the team but small teams can adapt/iterate quicker. @BankMercury we raised a $6m seed but didn’t grow above 9 till be launched 1.5 years later.

Mercury.com is now 7th in the search result for a Google search for "Mercury". Pretty good considering we have to compete against a planet, element and a God.

1/ Back in Feb @naval pitched me AngelList Rolling Funds. Initially I was skeptical, but over time I have realized that this opens up a new class of LPs and GPs. We will see a rise of active founders like @shl and simultaneously running rolling funds.

There are fundamentally 2 types of startups: 1. Existing market with lots of incumbents 2. Emerging market with little or no solutions. You MVP in 2 and build for 2 years in 1. Lots of examples of both

1/ Mercury 2025 Annual Letter: Our vision is that banking* should do more than hold your money. It should include the cards and software you need to actually use your money. In 2024, we took huge strides to bring that vision to life: * Grew transaction volume to $156bn. * Launched 4 new major products – bill pay, invoicing, accounting automations and expense mgmt * Expanded into the consumer space with Mercury Personal* * Invested in our core banking infrastructure and experience Here’s how we got here and what we learned along the way 🧵

Respond to this tweet with a startup idea. I will tell you whether I would take a investor meeting or not and why for that idea, assuming it came in from a strong warm intro. I can tell in 280 chars whether an idea is interesting to me and why. Maybe it will be useful feedback.

1/ From this summer, all you will needed is a @Mercury account for all your business financial workflows. Today, we are launching: 1. Bill pay 2. Advanced accounting integrations And coming this summer: invoicing and employee reimbursement.

Recently, I have talked to several bubble unicorns or near unicorns that are basically going to zero. Main themes: 1. Strong Covid lockdown growth that’s disappeared. 2. Bad unit economics startups have no capital available. Next 12 months are going to be rough.

3 years from launching Mercury and we are profitable and almost 400 employees! Set up to build a long term sustainable company. Here is how we work with partner bank and keep deposits safe.

Looks like people are using a new term for pre seed: micro seed. Now: Seeds = $3m-$10m Pre seed = $1m-$3m Micro seed = <$1m Just 3 years ago this was the exact definition of A, seed, pre seed respectively.

1/ Excited today to be announcing @BankMercury’s $20m series A investment led by @CRV. medium.com/mercury-hq/mercur… Since our launch we have been working insanely hard keeping up with the growth and building new features

From Monday everyone on Mercury will get $5m of FDIC insurance via our partner bank sweep networks. For >$5m you can use our Mercury Treasury to get access to US govt t-bills MMFs. We also did a huge UX revamp to Mercury Vault. You should check it out if you are a user already.

Back when we had 10 people working at @BankMercury I could not imagine what 100 people would do here. Now that we are almost at 100 people, I can easily imagine what 1,000 people would do here. So much to be built!

2025 is going to have huge AI fulled productivity gains. At @Mercury we are: 1. Rolling out AI SDR agents 2. Rolling out AI CS agents 3. Rolling out AI document validation Between improvements in AI and mature startups productizing it, feels like an exciting time!

raising too much money and a corollary to that: hiring too many people before PMF

I read “Why we sleep?” a year ago and since have been taking sleep more seriously. I now try to be in bed 8.5-9hrs a day. Before I did 7.5-8hrs. Some people find that really surprising and think 6 hours in bed is normal. I was shocked they only do 6. What’s normal?

1/ As an investor you are often making very quick decisions about startups. Here are some questions I think about: Team: - have they built something impressive before - have they thought about the problems deeply - have they shown perseverance - do they care about the problem

1/ We shared stats with TC on @Mercury growth post-SVB: * 26k new customers since March growing twice as fast as before * 4x net revenue end of may 2023 vs may 22 * 95% of ex-svb Mercury customers retained 90 days in * 30% of Kruze Consulting clients using Mercury vs 17% in Feb