Diego

@d1ego

1044 Following

1168 Followers

Diego pfp

Better late than never 😅 Just joined the league — sitting in 6th place, so I’ve got some catching up to do!

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Diego pfp

Couldn’t agree more. Small funds carving out follow-on capital is a double-edged sword — every marginal dollar at that stage should carry the same risk/return profile. Reserves often distort that. One addendum to your solution: “raise less for Fund I and recycle up to 150% if needed.” It shows LPs you can generate distributions while still having room to take conviction bets when warranted.

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Diego pfp

Disagree. I do think they have ambitious bets. Early in SpaceX when it was non-obvious and investments like Varda (manufacturing in space) are rarely backed by traditional VCs...

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Diego pfp

You think they are better than the EVO SLs?

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Diego pfp

I swear by my Vaporflys for race day too. Best shoes I've had. I still haven't found a daily trainer that convinces me. Have recently tried Pegasus, On Cloudmonster 1st gen (really liked them, not convinced about the new ones) and Rebel V4s. Hopefully the SL goes on sale next!

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Diego pfp

This is great, thanks! The NB V4s lost their bounce super fast for me—honestly not giving the V5s a shot. Also really like the look of the EVO SLs. Seems like a great all-around trainer :)

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Diego pfp

Really recommend Gurley’s latest pod with Patrick O’Shaughnessy. One of the few who speaks clearly and cuts the BS. Loved the shoutout to crypto as a way to break the cycle of companies staying private forever. https://open.spotify.com/episode/3coA5PwQ1iz7mMxjctLNCA?si=imbTMieiQh23-Dmmnl29-w

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Diego pfp

Thoughts on Adizero EVO SLs as daily trainers? I’ve been disappointed with the NB Rebel V4—too soft and unstable for me. Looking for something light, but with better snap and support

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Chris Dixon pfp

I’m excited to announce that we’re co-leading the $10M seed round in Merit Systems, which is building a new economic model for open source. Open source software is the lifeblood of the internet, but it’s poorly funded and too reliant on volunteer contributions. Merit is building a protocol that attributes and rewards contributors proportionally to the value they create. The goal is to enable code repositories to become the organizing unit for protocol networks, in the same way that companies are the organizing units for corporate networks. Merit was founded by @samrags and @rfs. As an @a16zcrypto investor and engineer, Sam developed Jolt, one of the fastest and most promising zkVMs. Similarly, Ryan excelled at Blockchain Capital as an investor and engineer. @mason, a gifted technologist and investor also from a16z, joined the Merit team to help them scale. We are excited to back the Merit team and support them with their ambitious mission.

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Diego pfp

Agreed. Gotcha, thanks. Flexibility is good but can be a distraction

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Diego pfp

My daughter is starting to crawl. So far, it's 1 inch forward, 3 yards backwards. So fun to watch 😆

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Diego pfp

What's your take on early crypto investors doing venture and also having active liquid strategies? IMO, different skillset & time horizon but some managers like the flexibility to act on arbitrage/valuation opportunities between equities/tokens in each cycle. Thoughts?

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Diego pfp

I think it's stage and sector specific. Given increased valuations and deal activity I'd say activity has mainly recovered. But growth stage remains uncertain imo, less investors underwriting downstream so not everything has been flushed out the system yet

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Diego pfp

Carta just dropped its Fall fundraising data (software). Valuations closing-in 2021 levels driven by AI (75th percentiles look rich). No deal count specified for Series B and C but growth rounds continue to be scarce

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Diego pfp

Impressive, but not surprised. Stock markets in Latam are kind of a joke. Low float, low liquidity, corporate governance, high concentration, etc. and it's not trivial for local folks to access global equities markets. Monetary use cases in crypto have natural PMF in regions like Latam - just a matter of time before adoption becomes parabolic imo

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Diego pfp

Tricky. LPs don't love cross-fund investing, that's why Continuity funds re preferred over Growth funds (cleaner structure, less conflict of interest). Growth funds are also trickier to raise in current cycle (bloated valuations in late stage). That's why CRV gave money back to LPs https://techcrunch.com/2024/10/02/venture-firm-crv-returns-275-million-citing-overvaluation-of-mature-startups/

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Diego pfp

That's why Sequoia bought back Stripe shares from it's LPs: https://www.axios.com/2024/09/09/sequoia-capital-stripe

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