Venture Field Notes

Last updated 3 months ago Public archive

A collection of thoughts and links providing frameworks and strategies for making smarter investment decisions and building companies— largely focused on the early stage venture market where I spend most of my time.

Building Bollingen Tower
Why Stitch Fix style curation can help make distributed work actually work.
Cosmetic Verticals vs. Structural Verticals
Why debating vertical vs. horizontal go to market is a false choice and how making the right distinction between cosmetic and structural verticals can create early competitive advantage for startups.
The storytelling thesis
For companies — large and small — each day is spent telling your story over and over again to all of your key stakeholders. Hiring, selling, raising capital…the storytelling doesn’t stop, it simply changes contexts.
Resisting the institutional imperative
As traditional paths to defensibility become harder to develop and maintain, the only moat that sustains is a company's ability to consistently deliver an experience that leaves the consumer feeling like they are getting a better deal every time they walk away from an interaction.
Assets that don't earn
Why mature companies are valued on their ability to turn assets into cashflow while emerging companies are valued on what might be called "assets that don't earn".