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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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    1. Austen Allred‏Verified account @AustenAllred Mar 17

      But what I think is interesting, as @patrickc points out, is the next layer where there may be the likes of Uber or Airbnb that just got squashed by regulation that we never heard about, or we conclude they killed some “unsafe” practice

      1 reply 1 retweet 10 likes
      Show this thread
    2. Austen Allred‏Verified account @AustenAllred Mar 17

      Yet if we go even deeper (call it galaxy brain if you must) there are companies that aren’t started or invested in for fear of regulation

      1 reply 2 retweets 13 likes
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    3. Austen Allred‏Verified account @AustenAllred Mar 17

      Some of those are obvious, e.g. a company doing something that needs FDA approval requires $100m in investment when the actual tech might require $10m, but we even see it at Lambda School, in a relatively less-regulated space

      2 replies 0 retweets 10 likes
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    4. Austen Allred‏Verified account @AustenAllred Mar 17

      In fact I suspect the net effect of regulation is actually greater when the regulations aren’t well-defined, because it stops people from trying. It’s awfully difficult to build around something that doesn’t have clear precedent, which is almost everything interesting

      2 replies 2 retweets 29 likes
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    5. Austen Allred‏Verified account @AustenAllred Mar 17

      The risk there is company-ending, and causes an odd scenario: well established companies are unwilling to take such risks, which leaves only newer and more relatively shady companies doing those things

      2 replies 0 retweets 7 likes
      Show this thread
    6. Austen Allred‏Verified account @AustenAllred Mar 17

      I think we’re seeing this to some degree in ICOs. Legit companies aren’t going to act without precedent and existing case law from the SEC, so we’re left with new companies and sheisters hawking 99% bullshit, to the point that almost everyone says “ya just shut out down”

      3 replies 0 retweets 11 likes
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    7. Austen Allred‏Verified account @AustenAllred Mar 17

      Interestingly some of the most impressive startups I see nowadays are entering heavily regulated spaces. There’s such an enormous moat when you make it through that it’s worth a shot, but it takes a founder willing to spend 80% of effort dealing w regulators and 20% w tech

      1 reply 0 retweets 16 likes
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    8. Austen Allred‏Verified account @AustenAllred Mar 17

      It may be to some degree that all the easy stuff has been done, but in my YC group at least 50% of the companies we’re going up against serious regulatory risk; the kind that’s difficult to define, understand, prepare for, or hedge against

      3 replies 0 retweets 15 likes
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    9. Austen Allred‏Verified account @AustenAllred Mar 17

      I know this would never happen in a billion years, but if you wanted to truly unlock innovation you would have to have regulators more frequently *bless* some practices, not just condemn them. A stamp of approval, not “they haven’t killed x yet so let’s assume it’s safe”

      4 replies 2 retweets 23 likes
      Show this thread
    10. runako‏ @runako Mar 18
      Replying to @AustenAllred

      2 counterpoints: 1) nobody who owns a condo wants all the other units to be Airbnbs (reg is good here). 2) Hollywood routinely raises $100mm+ for a single movie; if a startup is powerful, should a $100mm requirement be a barrier?

      2 replies 0 retweets 0 likes
      Austen Allred‏Verified account @AustenAllred Mar 18
      Replying to @runako

      Most Hollywood movies don’t have a 50%+ chance of being worth $0

      12:08 AM - 18 Mar 2018
      • 4 Likes
      • Bryan Kehl Rangefinder Keith Wasserman Ran Reichman
      1 reply 0 retweets 4 likes
        1. New conversation
        2. runako‏ @runako Mar 18
          Replying to @AustenAllred

          And zero have a shot at a trillion.

          1 reply 0 retweets 0 likes
        3. runako‏ @runako Mar 18
          Replying to @runako @AustenAllred

          Just saying this stuff isn’t obvious, especially when you compare across industries. Tech is especially capital-light. Not obvious $$$ threshold should be defined by (essentially) customary software VC round sizes.

          1 reply 0 retweets 0 likes
        4. Austen Allred‏Verified account @AustenAllred Mar 18
          Replying to @runako

          Try to raise $100m for a company that wants to seek FDA approval and let me know how it goes

          1 reply 0 retweets 0 likes
        5. runako‏ @runako Mar 18
          Replying to @AustenAllred

          Not my thing. Just saying it’s not as clear as you make it. It probably should be easier to raise money for bio startups, though. This is arguably a defect of VC more than “regulations are broken” though.

          1 reply 0 retweets 0 likes
        6. Austen Allred‏Verified account @AustenAllred Mar 18
          Replying to @runako

          It’s ridiculously, ridiculously hard for a company that needs FDA approval to win toneven raise a seed round

          1 reply 0 retweets 0 likes
        7. runako‏ @runako Mar 18
          Replying to @AustenAllred

          And yet folks manage to do so. Maybe the bar is higher for hacking bodies than web startups? Maybe that’s not obviously a bad thing? Anyway, just food for thought.

          1 reply 0 retweets 0 likes
        8. runako‏ @runako Mar 18
          Replying to @runako @AustenAllred

          The difficulty raising capital for bio startups could also be a problem of impatient capital in inherently slower (vs web) industries. Not arguing either way, just offering something to consider.

          0 replies 0 retweets 0 likes
        9. End of conversation

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