growth. startups.
Chicago, IL
Joined November 2019
- Tweets332
- Following291
- Followers1.2K
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Jack Chen retweeted
happening now: sam’s back in the building, satya mediating with board on new board members (presumably over microsoft teams), bret taylor is on new board, by 5pm the board must capitulate or sam’s walking.
sam’s holding all the cards. only one way this will end.
Jack Chen retweeted
Interest Rates on Deposits, by Bank:
1. Wells Fargo: 0.15%
2. Citibank: 0.05%
3. Chase: 0.01%
4. Bank of America: 0.01%
5. US Bank: 0.01%
Rates on Alternatives to Bank Deposits:
1. CDs: 5.0%
2. Money Market: 4.5%
3. Treasury Bonds: 3.0%
This is the real reason why a record $1 trillion has left banks over the last year.
The era of "free" money for large US banks is coming to an end.
They must raise interest paid on deposits or capital will continue to leave.
Jack Chen retweeted
🚀 Latest podcast talking better decisions, career strategy, and values with @lennysan 🐐
- Curiosity loops to make better decisions
- Values and how to map them
* "Explore and exploit" strategy for careers
* "Eating your vegetables"
& more
Here: lennyspodcast.com/how-to-mak…
Jack Chen retweeted
2023 tech reality check:
1. Nobody owes you $2 million for having an idea
2. DCFs are easy when interest rates are 0
3. Value creation != valuation capture
4. Stock based compensation is still compensation; dilution isn’t free
5. Margins matter
6. Narratives create 5% of long term value; cash flow does the rest
7. Playing musical chairs work; until the chairs evaporate
8. Blitzscaling doesn’t mean you can Facebook advertise your way to growth
9. Giving away money to customers is great for getting customers; not for keeping them
10. Topline growth isn’t a substitute for bottomline endurance
11. Hope doesn’t translate to terminal value
12. 4 hour work week never made sense
13. Series A startups having a “corporate venture fund” didn’t either
14. Title inflation is toxic and breeds entitlement
15. $20M preseed SAFEs are dead
16. You can’t meme your way to (long term) success.
17. Loss ratio discussions are coming back
18. Sometimes a tech-enabled disruptive bank…is just a bank.
19. Every (tech) business you love is going to hike prices
20. Tokens are not equity. Tokens are also not not equity.
Jack Chen retweeted
Midjourney v5 is here! (for real this time, lol)
Here are some side-by-sides of my prompts, v4 vs v5, as well as some new prompts and crowd shots. I'll add more to this as I experiment.
🧵
Jack Chen retweeted
It’s incredible that all of us on Twitter created and successfully defused a bank run, all in 72 hours.
Jack Chen retweeted
Holy crap.
Bloomberg reporting SVB closed by regulator - deposits will be moved to protected accounts by regulators.
Jack Chen retweeted
The GPT playground didn’t go viral, chatGPT did.
The UX is what allowed the masses to understand the power of AI.
Goes to show that even when the underlying technology is the same, the best AI products will be the ones that are overly-focused on the user experience.
Jack Chen retweeted
Over $700K from the two coffee robots that we run at SFO in 2022. Fully automated and unattended 24/7. The *only* proven system in the world. Adopt your own coffee robot baby today at getcafex.com 🥳
Jack Chen retweeted
uncomfortable realization as Quora, Notion, GitHub, and other legendary stores of content launch their own AI-powered chat experiences:
in the age of AI, if you don’t own the query interface, you’re just assembling training data for those who do.
Jack Chen retweeted
First #recession as a #creator? Don’t panic; read this article (#5 in 2022) where @saayanath and @jackchenchi broke down what creators can expect, share predictions and advice: bit.ly/3PS4Ii0
Jack Chen retweeted
Inspired by the success of @MrBeastBurger (& many others), more #creators are considering extending their online presence offline by offering products to their audiences.
@saayanath and @jackchenchi explore the pros & cons: bit.ly/3UCxmV6
#creatoreconomy
Jack Chen retweeted
This is what structural, institutionalized racism actually looks like: nytimes.com/2022/12/02/us/as… – at Cupertino, CA
Jack Chen retweeted
Founders know to expect the unexpected, but it's challenging to plan for what 2023 will have in store.
To help, we pulled this advanced scenario planning template from The Review archives to help teams think about responding curveballs.
More advice here: review.firstround.com/annual…
ALT Scenario responses example chart. Chart's columns are worst case, middle case, and best case scenarios. The rows are game plan, product direction, headcount, revenue target and runway.
Jack Chen retweeted
The FTC's case against Kevin David (resulting in a $53M judgment) announced today may be of interest for anyone advertising masterminds or coaching/courses.
Particularly if you advertise potential earnings:
