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david__booth's profile
David Booth
David Booth
David Booth
@david__booth

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David Booth

@david__booth

CEO @beondeck | Past lives: @Cartainc, @AngelList @CoinList | 3x Founder, Former VC | Kiwi abroad 🇳🇿

San Francisco, CA
beondeck.com
Joined June 2009

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    David Booth‏ @david__booth Jan 15
    • Report Tweet

    David Booth Retweeted Erik Torenberg

    I've been working on a theory. I call it "community is the new scarcity", or "the unbundling of venture capital" Let's try this, hive-mind.https://twitter.com/eriktorenberg/status/1217522724077109248 …

    David Booth added,

    Erik TorenbergVerified account @eriktorenberg
    We also should decrease cultural friction to starting companies: - celebrate starting cos as a thing for ambitious ppl to do globally - see startup failures on resumes as badges of honor instead of blemishes - create communities to find co-founders & founder support(@beondeck)
    Show this thread
    6:00 PM - 15 Jan 2020
    • 18 Retweets
    • 83 Likes
    • Sagun Garg (1.01³⁶⁵ = 37.2x) Nikita Voloboev Daniel Zahler 🧑🏻‍💻☕️ Paul Jonathan Mitchell whitelighght Wes Wagner Michael DeMaria
    3 replies 18 retweets 83 likes
      1. New conversation
      2. David Booth‏ @david__booth Jan 15
        • Report Tweet

        1/ in the 90's and 2000's, capital was the bottleneck to starting up. You needed $5-10M from Sand Hill to build all that infrastructure.

        1 reply 0 retweets 8 likes
        Show this thread
      3. David Booth‏ @david__booth Jan 15
        • Report Tweet

        David Booth Retweeted Erik Torenberg

        2/ In the mid 2000s — mid 2010's, that changed. Engineering became the new scarcity. Anyone can start up... so long as you can code. Enter YC:https://twitter.com/eriktorenberg/status/1208230807044640768 …

        David Booth added,

        Erik TorenbergVerified account @eriktorenberg
        in 2005, @paulg discovered an arbitrage opportunity by identifying that young technical founders were being overlooked in 2019, with the rise of no-code & the intense focus on technical founders, perhaps the pendulum has swung + a new arbitrage opp is biz&product minded founders
        Show this thread
        1 reply 0 retweets 9 likes
        Show this thread
      4. David Booth‏ @david__booth Jan 15
        • Report Tweet

        3/ Today, it's never been easier to start up. You can no-code your way to MVP with @webflow, @airtable... you can learn to code online with @LambdaSchool or figure it out on your own... build a brand/distribution on Instagram, YouTube, Twitter.

        1 reply 0 retweets 19 likes
        Show this thread
      5. David Booth‏ @david__booth Jan 15
        • Report Tweet

        4/ But while anyone can now start building a company, lots of great people are still sitting on the sidelines. Why? The scarcity has shifted. To what?

        1 reply 1 retweet 9 likes
        Show this thread
      6. David Booth‏ @david__booth Jan 15
        • Report Tweet

        4(a)/ Access to talent and co-founders: conventional wisdom holds that founders should know each other or have worked together prior to starting a startup. We believe this to be false: founders can be matched or meet randomly, and we engineer this serendipity at @beondeck.

        1 reply 0 retweets 22 likes
        Show this thread
      7. David Booth‏ @david__booth Jan 15
        • Report Tweet

        4(b) User attention and distribution: in an industry driven to “build something people want”, attention has never been more scarce. Getting buy-in from a network of well-connected, committed early adopters can be the difference between life or death for a new product.‍‍

        1 reply 0 retweets 13 likes
        Show this thread
      8. David Booth‏ @david__booth Jan 15
        • Report Tweet

        5/ The best founders know this, and lean into it. Building as part of a strong community helps you lift above the noise.. hire the right people, build the right product. Last week @seanlinehan told me this:pic.twitter.com/knXBtgFm0g

        1 reply 0 retweets 13 likes
        Show this thread
      9. David Booth‏ @david__booth Jan 15
        • Report Tweet

        David Booth Retweeted Erik Torenberg

        6/ Let's go deeper. College is a bundle of three things: curriculum, credential, and community. You leave with a credential, but community is often overlooked. Most great opportunities come from who you met, not what you learned.https://twitter.com/eriktorenberg/status/1217590443468185600 …

        David Booth added,

        Erik TorenbergVerified account @eriktorenberg
        The credential is the last element to be unbundled from college: - education (MOOCs) - networks (accelerators) - credentials (stay tuned) My bet: P2P credentials If I trust you & you say X is the best young person you've worked with, that means more to me than a Harvard degree
        Show this thread
        2 replies 1 retweet 15 likes
        Show this thread
      10. David Booth‏ @david__booth Jan 15
        • Report Tweet

        7/ Venture capital — and particularly the accelerator model of VC — is a bundle of three things: capital, credential, and community. They all give you capital. The best ones also give you a credential ("backed by X"). Many talk about building community... some do it well.

        1 reply 0 retweets 9 likes
        Show this thread
      11. David Booth‏ @david__booth Jan 15
        • Report Tweet

        David Booth Retweeted Mike Raab

        8/ This venture capital bundle has proven lucrative, resulting in some of the best investment returns of all time. But over the course of history, value accrues at the transition between unbundling, and re-bundling of products and services.https://twitter.com/hithereimmike/status/1149481029138173953 …

        David Booth added,

        Mike Raab @hithereimmike
        Replying to @benedictevans
        "I said, well, gentlemen, there’s only two ways I know of to make money– bundling, and unbundling." - Jim Barksdale https://hbr.org/2014/07/marc-andreessen-and-jim-barksdale-on-how-to-make-money …
        1 reply 1 retweet 7 likes
        Show this thread
      12. David Booth‏ @david__booth Jan 15
        • Report Tweet

        9/ But something's different here. Community — almost by definition — must be scarce. If it gets too big, if just anyone can get in, it's less intimate. Less valuable. Figuring out how to thoughtfully scale community is probably 90% of my job at @beondeck. Story for another day.

        5 replies 1 retweet 17 likes
        Show this thread
      13. David Booth‏ @david__booth Jan 15
        • Report Tweet

        David Booth Retweeted Brandon R. Hill

        10/ When demand for components of a bundle become unbalanced, opportunity arises. We believe entrepreneurs deserve a better community, without giving up big chunks of their cap tables. h/t @IamBrandonHill for my new favorite catch-phrase...https://twitter.com/IamBrandonHill/status/1151134181616783366 …

        David Booth added,

        Brandon R. Hill @IamBrandonHill
        Calling it now, @daveboothy @eriktorenberg and @julianweisser are building the next great connective force in tech. Shout out to them and the whole @beondeck team 🔥
        2 replies 0 retweets 14 likes
        Show this thread
      14. End of conversation

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