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AustenAllred's profile
Austen Allred
Austen Allred
Austen Allred
Verified account
@AustenAllred

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Austen AllredVerified account

@AustenAllred

CEO @LambdaSchool (YC S17): A CS education that's free until you get a job. I have made remarks that I do not agree with.

San Francisco, CA
lambdaschool.com
Joined December 2010

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    Austen Allred‏Verified account @AustenAllred Jul 26

    If you think about it venture capital is really just a bunch of future failed companies being subsidized by the few incredibly successful ones

    9:22 AM - 26 Jul 2018
    • 43 Retweets
    • 338 Likes
    • compiledwrong CJ Black Jonathan Van Kyle Russell 🚀 Calvin Chu Alid Castano Heath Andreasen Break Up PG&E Perini Luis Revilla
    25 replies 43 retweets 338 likes
      1. New conversation
      2. Nikhil Krishnan‏Verified account @nikillinit Jul 26
        Replying to @AustenAllred

        Phew, it's been at least 5 minutes since someone has written about VC and power laws

        1 reply 0 retweets 33 likes
      3. Austen Allred‏Verified account @AustenAllred Jul 26
        Replying to @nikillinit

        I'm here for u

        0 replies 0 retweets 8 likes
      4. End of conversation
      1. JJ 「cιtιƶεɳƒιvε」  🏴‍☠️‏ @CTZN5 Jul 26
        Replying to @AustenAllred

        JJ 「cιtιƶεɳƒιvε」  🏴‍☠️ Retweeted JJ 「cιtιƶεɳƒιvε」  🏴‍☠️

        as above, so belowhttps://twitter.com/ctzn5/status/1022541842594844672?s=21 …

        JJ 「cιtιƶεɳƒιvε」  🏴‍☠️ added,

        JJ 「cιtιƶεɳƒιvε」  🏴‍☠️ @CTZN5
        it's okay that's how biological evolution works too https://twitter.com/austenallred/status/1022517616550838272 …
        0 replies 0 retweets 3 likes
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      1. Luca Dellanna‏ @DellAnnaLuca Jul 26
        Replying to @AustenAllred

        VC is also a transfer of emotional value. The broad population acquires the emotional value (they enjoy the benefits of the new techs) from the entrepreneurs (who put in the hard work and the failures).

        0 replies 0 retweets 3 likes
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      1. Graeham Douglas‏ @Graeham Jul 26
        Replying to @AustenAllred

        Schrodinger's startup

        0 replies 0 retweets 2 likes
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      1. Jonathan Van‏ @JohnnyHVan Jul 26
        Replying to @AustenAllred

        The Great Experimentation. True of all R&D.

        0 replies 0 retweets 2 likes
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      1. New conversation
      2. Erik Fernandez‏ @eefernandez Jul 26
        Replying to @AustenAllred

        Venture socialism???

        1 reply 0 retweets 2 likes
      3. 1 more reply
      1. New conversation
      2. Jake Chapman‏Verified account @runvc Jul 26
        Replying to @AustenAllred

        Sort of.... it is also a tool for helping to find the a subset of the few incredibly successful ones that likely would not have made it without the infusion of capital.

        1 reply 0 retweets 2 likes
      3. 1 more reply
      1. Grant Nelson‏ @Grantimus9 Jul 26
        Replying to @AustenAllred

        Even better: it's mostly rich people almost directly paying the salaries of people willing to work hard to create their own wealth. Tough to invent a better wealth transfer & generation mechanism.

        0 replies 0 retweets 1 like
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      1. JLu‏ @JiffyLu Jul 26
        Replying to @AustenAllred

        That’s basically the mental model for everything in life

        0 replies 0 retweets 1 like
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      1. Will Bickford‏ @wbic16 Jul 26
        Replying to @AustenAllred

        Time travel is hard, yo.

        0 replies 0 retweets 1 like
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      1. Jake Huneycutt‏ @jakehuneycutt Jul 26
        Replying to @AustenAllred

        It's true. And a lot of very successful VCs are only right about 1 out of 10 times. But when they're right, they are *REALLY* right!

        0 replies 0 retweets 1 like
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      1. ryan millennials‏ @fakeryanmills Jul 26
        Replying to @AustenAllred

        or put another way, future successful companies which are subsidized by the foundational failures of others

        0 replies 0 retweets 1 like
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      1. Chris Best‏ @cjgbest Jul 26
        Replying to @AustenAllred

        Brilliant. You should start a VC firm that just finds the latter

        0 replies 0 retweets 1 like
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      1. Evelyn of tummy.com‏ @tummycom Jul 27
        Replying to @AustenAllred

        It's risk shedding, and success bundling.

        0 replies 0 retweets 0 likes
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      1. Alison Emily‏ @aalexis1234 Jul 27
        Replying to @AustenAllred

        Pretty much. It’s called spray and pray my PM ex told me.

        0 replies 0 retweets 0 likes
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      1. Dror Sharon‏ @dror_sharon Jul 27
        Replying to @AustenAllred

        It is called experiments....

        0 replies 0 retweets 0 likes
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      1. Russell Collins‏ @VancouverRuss Jul 27
        Replying to @AustenAllred

        .Hollywood studios...

        0 replies 0 retweets 0 likes
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