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Saturday founder conversation: Product Market Fit.
I was thinking about @pmarca’s legendary post, “The Only Thing that Matters,” so I re-read the post and called @BobBodily to chat about it.
It’s easy to get distracted, but in the end PMF is the only thing that matters. I’m probably going to create some visual reminder of this to keep near my desk.
One key PMF observation regarding Bioniq — we saw a real spark of user engagement with our Op_kitten collection. It’s a collection we launched in Feb where you could level up your kitten across 21 levels, but with every level there was a chance your kitten could die.
Not only did we sign up 10,000 new users in 10 hours with Op_kitten, but we had many examples of users playing with their kids, screen recording the game, and generally just loving the mechanics of the game.
There was a real spark of user delight, so we’re going to double down on that feedback to see if we can ignite the PMF fire. 🔥
If you played with op_kitten, what did you think?? How can we level up the nft game experience?
I still have a few kittens left — you’re interested, send me a message and I’ll hook you up with a kitten so you can try it out.
It’s happening. If you’re in Utah, come join us.
Guys I'm going to do something fun! Those of you who know I expect to be signing up, better be signing up. donutstoprunning.com
I've been thinking back to when I worked full-time in crypto. In 2021, we raised $1.3m in about 3 weeks in an oversubscribed round off of some early traction.
But startups are hard, and crypto startups are ESPECIALLY hard; the normal startup whiplash is magnified by market volatility and consumer sentiment.
ChatGPT recently dug up this interview that I did in 2022. The "web3" label is long gone, but I actually stand by what I said then. I still believe in the core fundamentals of blockchain: decentralization, composability, accountability.
In fact, I think AI only makes all of these principles that much more urgent. With more bots/agents acting on behalf of humans, we'll need layers of decentralization, composability, and accountability for things to run smoothly.
Here’s how I use AI for fitness. I’ve been running seriously for about 5 years, but my biggest improvements have come in the past 12 months. So what changed?
1) I collect more data than ever: pace, distance, elevation, heart rate, power, and everything else you can track with Garmin + Stryd (power pod). Stryd especially helps me dial in workouts at the exact levels I need for improvement.
2) I stopped coaching myself, and now I let ChatGPT coach me. Because I give ChatGPT all the data, it has everything it needs as a baseline. Then my own thoughts, ideas, concerns, etc. are all weighed alongside the data the coaching can be very specific and responsive.
3) I manage all parts of running in a project with shared context: training schedule, specific workouts, nutrition, equipment, injuries — basically anything I can think of related to running. ChatGPT has everything.
At the end of the day, I still own my fitness decisions and progress. But it’s nice to rely on AI data and insights to make informed decisions, and I think that ultimately has led to the progress.
I’m going for a personal record in the Marathon on Nov. 7 in Indianapolis — will report back how it goes!
p.s. Despite the em dashes, I wrote this entire post by myself with no AI. Every keystroke. 🤷♂️
Should I test this? I am the exact target audience.
- I have 5 workouts left, plus 2-week taper, until Indy Monumental on Nov 7
- I currently have 15+ weeks training between 50-75 miles (uninjured)
- I do easy runs at 9:15-9:30 pace, at 4500ft elevation in Utah
I am very tempted to try the workouts (I think they are achievable), but I genuinely don’t think it’s the right stimulus for the last few weeks prepping for this marathon.
Who thinks I should do it?
“these workouts are too easy” 🤣😂
no brother, your brain is just warped into believing you need to race every rep and go to the well during every work out
stack 10-12 healthy weeks of 50-70 mpw with 2 workouts per week
then run these six workouts in the final 3-4 weeks
taper for 2 weeks
the runner will be 2:59 marathon shape
What a weird space Bending Spoons is in. It's like they're buying up 2010-2016 tech nostalgia.
Can we get them to spin back up Pocket and Wunderlist?? What else???
Another brutal M&A. Miro, founded in 2011 and valued at $17.5B 4yrs ago, is getting acquired by Bending Spoons, founded 2013, at ~2.3x ARR.
After Airtable, another unfortunate victim of the SaaS bust at ~10x down from peak. It raised $476M only to be sold for $1.355B EV ($1.79B equity value), clearing its preference stack.
Any employees who joined 2021 onwards are likely underwater on their options in the company.
Max Ogles retweeted
Happy Fathers Day to the best and most involved generation of dads in recorded history
It's summer time for my kids, so it's time to share one of my best summer parenting wins.
I noticed a couple years ago that my kids do well on the year-end core math tests, then regress after the summer when they start the new school year.
In other words, they forget how to do math over the summer. 🤷♂️
So here's what we did to get them 20 hours of math practice last summer:
- Signed them up for IXL
- Make sure they take the grade-level diagnostic exam
- Now I can see where they are strong/deficient
- I gave them 2 goals -- 600 minutes, and 1200 minutes
- At 600min, I gave them a small reward. (Most chose some form of ice cream like Cold Stone 🍦)
- At the 1200-min mark, they earned a bigger prize. This varied by age. My 14-yo got a $150 admission to a fantasy author conference. My 7-yo got a $30 monogrammed bag on Amazon. 😂
- All 4 of my school-age kids started the school year with math proficiency at least slightly above where they ended the previous year. 🔥
**Worth noting that this year I have my older kids signed up for Math Academy. Already seeing great results and a variety of reasons why I prefer this to IXL:
- More adaptive
- More precise in deficiency areas
- More prescriptive about curriculum fit
- etc etc.
I “designed” this. 😂
But yes it is pretty epic, I would definitely plan a trip to go see it.
I think we need to build this.
I designed this below image, representing Lewis and Clark on the Mississippi in the style of Argonath.
At $1 Billion or more, I think it can be done.
Video tries to prove a point about etiquette…while bringing a camera guy to the track to film at a fast pace at the busiest possible time. 🤦
Solid gold.
My wife mentioned a nice private school over dinner this week
She said the campus was beautiful
I asked what's the tuition
She said we should look at it as an investment in him not a cost
I made a note
She said don't make a note
I said I always make notes
She said this isn't a deal
I said everything is a deal
She closed her eyes
She said we'd discuss it Saturday
I agreed
Saturday 7:02am
She came downstairs in her Saturday robe
Coffee in hand
I had my cargo shorts on
The dining room had been cleared
The projector was on
The analyst was at the head of the table
Quarter zip on, three iced coffees, a legal pad, and two laptops
He had been there since 6:44am
I texted him at 11:14pm Friday
The text said dining room 6:45am bring the model
He sent a thumbs up
My wife stopped in the doorway
She said what is this
I said you said you wanted to discuss it
She said this is not a discussion
I did not respond
She sat down anyway
The analyst stood
He said good morning ma'am
She did not respond
He sat back down
A printed deck in front of each seat
A fourth copy in case
Slide 1 Tuition Schedule
$38,500 per year
Thirteen years
$500,500 nominal
Before escalators
The school has raised tuition 4.2% per year for a decade
With escalators $648,000
My wife said okay
I said I'm not done
Slide 2 Opportunity Cost
Even before escalators
$38,500 invested annually
10% nominal return
S&P long-run average since 1928
By his eighteenth birthday $944,000
My wife said we can afford it
I said I know that's not the slide
Slide 3 Terminal Value at Age 65
$83 million
She was quiet
The analyst slid the sensitivity tables across the table
8% return $31 million
10% return $83 million
12% return $222 million
She did not look
She said this isn't about money
I said it's always about money
She said no it isn't
I said then what is it about
She did not answer
She said you can't put a dollar value on his teachers his classmates his environment
I said I can the analyst already did slide 6
He flipped to slide 6
She did not look
She said the school is the best in the city
I said best is a feeling
She said it produces the best students
I said the students were already the best before they got there
She said our son deserves it
I said our son deserves $83 million
My son walked in
He is five
Dinosaur pajamas
He looked at the projector
He looked at the open deck on the table
He looked at slide 3
He said are we modeling pre-tax or after-tax
The analyst opened a new tab
My wife looked at the ceiling
He said what's the discount rate
The analyst set down his pen
She closed her eyes
He said is this the same return assumption from the 529 conversation
The analyst stopped typing
He looked at me
I did not say anything
She stood up
Sat back down
He said dad can I help
I said yes
He pulled up a chair
The analyst handed him a printout
He started reading
My wife watched him read
She watched him for a long time
She said his name
He looked up
She said do you like school
He said the work is too easy and the kids don't ask questions
She did not respond
She looked at the ceiling
She walked out of the room
The analyst started packing up
He said should I follow up Monday sir
I said no follow up needed
He'll be fine
Sent from my iPhone
People are freaking out about this, but:
1) I didn't mind the video at all. He's a nerdy guy not usually on camera, but so what?
2) Everyone debating this was the best possible outcome for the video. I probably wouldn't have heard about this burger otherwise...now I have.
Does anybody remember the viral "You Are My Friend" site from the early 2000s? I decided to recreate it!
youaremyfriend.cc/

























