Excerpts from our Limited Partner Letter - Fund One, March 2023

January 2023

14 years after the first mention of Bitcoin, Twitter is the most important web2 social platform for crypto. But Twitter and crypto are stuck in an…
On-chain stablecoin volumes exceed volumes processed by Mastercard, American Express, and Discover. But web3 has no use cases?
1
CoinDesk published an article yesterday to little fanfare about Instagram Digital Collectibles product that caught my attention — “Top NFT Artists Are…
The App Store was released 15 years ago and revenue is slowing down, while founders are struggling to build venture scale ideas
2
OpenAI & ChatGPT have traction at the very moment when venture capitalists need a platform shift
There are reasons to be optimistic as many of the largest web2 companies and mainstream brands enter web3 in 2023
3

October 2022

Every few years, an important new platform emerges as the go-to-market strategy for consumer founders. In the crypto world, the popular GTM…
1
Since the beginning of the consumer internet, investors and builders have regarded Product Market Fit (PMF) as the north star for any startup. A startup…

July 2020

I haven’t sent this tiny list an update in awhile, but want to get back to writing more often. Hopefully you don’t mind and are still excited for…
1

January 2019

I made 10 Product Predictions for 2019 on Twitter this week and the thread had a massive response. If you want to dig deeper on any topic, I recommend…

December 2018

I watched this interview of Dara Khosrowshahi (Uber, CEO) speaking at Stanford Graduate School of Business, and it’s a very thoughtful conversation that…