Kyle Samani

I have been doing the same thing for over a year now I agree with Walt's assessment In terms of UX, Apple > Google In terms of data and search, Google > apple Using Apple is like going back 5 years in time. It's def worse, but G Maps in 2015 was still greathttps://twitter.com/waltmossberg/status/1223387529484914690 …

12/ in summary, writing via documents is the glue for *everything* It’s the only way we keep everyone in sync Tips welcome! {fin}

11/ given timezones, we have to do it this way Also forces us to be far more concise in our thinking, and to make sure we are debating the most important issues

10/ writing is the key to everything. Not just for documenting decisions, but pre-meetings as well. Before IC, all slides and docs go out the day before. Everyone comments in line using google apps In IC, we just focus on questions and points of disagreement

9/ and ultimately summarize all of this and share with team broadly via all hands meetings monthly, and our LPs as decisions become public

8/ We then use this to Review our decisions on a quarterly cadence. This is an incredibly painful and enlightening process Figure out how to best help portfolio cos (eg see what they asked for a quarter ago, and if we did it)

7/ why? To keep ourselves honest. We are reviewing 200-300 opportunities / year It’s very easy to think “We passed on X because of Y” when actually it was because of Z

6/ new investments go through at least 4 rounds of internal documents now (initial notes, investment memo, DD, decision memo) It’s extensive. And we always produce decision memo. Even when we pass. We document why we passed

5/ the biggest change since inception - basically everything goes in writing now. And it’s much more structured and formalized This helps with time zones, bias minimization, and providing a history

4/ As we’ve grown internally - investment team, marketing, portfolio services, back office, data science, investor relations - we’ve had to evolve our processes a lot to make sure everyone can stay on the same page

3/ We communicate *a lot* And for those who know me, I’m pretty responsive As an individual, it’s hard to keep up. Disseminating to our team internally, and to relevant external parties makes it even more challenging

2/ Our challenge is unique because we cross so many organizational borders: Internal (slack) Portfolio (tg, signal) OTC counterparties (tg) other investors (signal, tg, WeChat) Cos in DD (email, tg) Randos (twitter, tg) LPs (email, signal, WhatsApp, twitter) Potential LP (email)

1/ We have 13 FTEs across 4 time zones (and people are frequently traveling) we’ve made about 25 private market investment decisions since inception And we have a liquid portfolio of about a dozen positions And more than 100 LPs So communicating is a real challenge

How do we get a private venmo? Either as a full stack approach Or each of these wallets implements Aztec + ENS Anyone have strong views on what happens first, and why?https://twitter.com/KyleSamani/status/1223408496437276672 …

Layer 2 is finally happening on Ethereum. Skale is on the verge of launching. Learn more belowhttps://twitter.com/SkaleNetwork/status/1222234076733566976 …

Disclosure: Multicoin Capital is long MKR

The @MakerDAO MCD stability fee is 8% The DSR is 7.75% So MKR holders are netting .25% ~$100M DAI, ~$250K USD of fees to MKR, ~$500M MKR market cap... so a yield of ~5 basis points Are MKR holders concerned here? This is not a good precedent to set in the early days of MCD