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@mikekarnj newsletter - oct '19

@mikekarnj newsletter - oct '19
By Michael Karnjanaprakorn • Issue #66 • View online
Our new space for Otis opens in a few weeks. You can RSVP here.

✍️ Tweets
Michael Karnjanaprakorn
Aligning incentives = one of the most important skills I've learned as a CEO
Michael Karnjanaprakorn
Ideas I'm excited about:
- Vertical labor mktplace that focus on quality & high $
- Knowledge sharing for companies (e.g. forum to replace internal email)
- Group homeschooling
- Personal CRM
- Candidate personality quizzes
- Marketplace for data / algos
- Cloud kitchens
Michael Karnjanaprakorn
- Early childhood edu
- Vocational edu
- RTR for men / streetwear
- ITAs (Income talent agreements)
- Non-alcoholic wine
- Marketplace for trusted, quality babysitters
- Spotify for non-label artists
- Celebrity/influencer DTC
- Co-owning vaca homes

DM for 👼💰
Michael Karnjanaprakorn
Entrepreneurs are not huge risk takers. They're actually risk averse and experts at reducing risk.
Balaji S. Srinivasan
India has dramatically reduced the number of citizens living in extreme poverty over the last few years.
Alex Taussig
One observation after reviewing 10,000+ pitch decks over 10+ years:

If your numbers are awesome, you lead with them. Usually in the first 3 slides. 📈
Jeff Morris Jr.
Fundraising rounds in 2019:

Friends & Family: $1M on $8M post
Pre-Seed: $2M on $12M post
Seed: $4M on $18M post
A: $10M on $40M post

If you have a fund, it’s okay to slow down your investments.

Time diversification for portfolios matters & prices won’t stay this high forever.
Chad Dickerson
Always, ALWAYS say yes to the friend from out-of-town who asks you to lunch at the last minute. Cancel whatever dumb meeting you had and just do it. Years from now, you'll remember the lunch and have no idea what the meeting you cancelled was about.
Auren Hoffman
One of the rarest things is to find people that simply to do what they say they will do.

Just doing this one step puts you in the top 10% of people.
"you didn't return my email, but you had time to send a tweet!!!"

bro, if you want me to reply to that 1000 word nonsense email with two sentences and a gif, i'd be mf'in INBOX ZERO
Steve Schlafman 🌎
One day Picasso was sitting at a cafe. He drew a sketch on a napkin.

A lady recognized him and asked how much she could pay for the napkin.

Picasso said $20,000.

The lady was shocked, “But it only took you two minutes to draw.”

Picasso replied, “No, it took me my whole life.”
Elad Gil
Types of intelligence:
1. Deep memory (remember everything)
2. Clarity of thought / logic (crisp logical chain)
3. Creativity (coming up with range of ideas)
4. Synthesis (combining ideas)
5. Intuition / Pattern matching (sparse data -> insights)

What is missing?
Andrew Yang🧢
Art broadens the mind. We could use a lot more of it.
Talent joining a company is a leading indicator of good things to come.

And talent leaving a company is a leading indicator of bad things to come.

But yet Board meetings rarely go deep on talent KPIs.
Jeff Morris Jr.
Most startup pitches underweight on distribution strategy.

You can build the best product - but if you distribute through the same channels as everyone else, you aren’t being creative enough.

Create a distribution strategy that surprises the people you pitch.

You’ll stand out.
Sara Mauskopf
My only super power as a CEO is my ability to hire people who are smarter, more skilled, more efficient and just generally better than me in every possible way.
🔖 Articles
Three Big Things: The Most Important Forces Shaping the World · Collaborative Fund
How Emily Weiss’s Glossier Grew From Millennial Catnip to Billion-Dollar Juggernaut
The Hedge Fund Billionaire’s Guide to Buying Your Kids a Better Shot at Not Just One Elite College, but Lots of Them — ProPublica
Why grandmasters like Magnus Carlsen and Fabiano Caruana lose weight playing chess
🕵️ Recommendations
Did you enjoy this issue?
Michael Karnjanaprakorn

I'm the founder of Otis. Every month, I share my favorite links from the web and share an inside look of our company.

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