I’m re(Thinking) @hellogenai

Last chance. See you at the show later. Get Free Tickets now: bit.ly/london-trader-… @ActivTrades @investlondon @roundtheclocktrader #activtrades #investing #financialmarkets #trading #londontradershow #financialnews #stockmarket #stocks #fintorro @FXStreetNews

I cannot seem to let go how much AI seems to help me learn. Education is going to be completely overhauled with an infinitely patient teacher. Perhaps what will matter more are whether teachers can inspire you to self-motivate than teach you.

After learning today’s news, this is the message I sent to the OpenAI team:

Sam Altman @sama

3 years ago

i loved my time at openai. it was transformative for me personally, and hopefully the world a little bit. most of all i loved working with such talented people. will have more to say about what’s next later. 🫡

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Brutally concise startup fundraising advice from someone who's been there.

Sam Altman @sama

3 years ago

i loved my time at openai. it was transformative for me personally, and hopefully the world a little bit. most of all i loved working with such talented people. will have more to say about what’s next later. 🫡

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The essay I just published called "How to Do Great Work" (paulgraham.com/greatwork.html) grew out of a single paragraph in another essay I was writing. It seemed such an important topic that I cut it out and made it into its own essay.

If someone asked me to give investing advice to a 30-year-old today who had just made their first million, I would first point them somewhere else. I’m not a financial advisor and don’t think I’m qualified to give anyone financial advice. The particulars matter too much. But if they insisted, I might say: (1) If you want to play in early-stage tech investing (or anything high-risk, high-reward), ensure you have a plan for developing an ENORMOUS informational advantage. Aim to develop new skills and relationships through portfolio companies so that you can win over time, even if you “fail” with many bets going to zero. Only bet what you are comfortable losing and what you can recoup in other ways. Though my angel investing snowballed, I began with $10K checks and advising for sweat equity. Think of this as tuition for a real-world MBA. Are you willing to move to the hub of activity to ensure the best possible information and deal flow, as I did when I moved to SF lifetimes ago? Or make commensurate commitments or sacrifices to ensure you are in a position to win? If not, I’d suggest choosing a different game. Other people will take the initiatives that you won’t, and they will beat you. Much of early-stage investing is cooperative, but let’s not kid ourselves, a lot of it is competitive, and not everyone will podium finish. (2) For the rest—which could be everything—follow Buffett’s advice. Keep it simple. One cautionary example of doing the opposite: I spotted the COVID curve ball early, and I made a lot of very “sophisticated” (complicated) decisions related to investing, and the associated research, diligence, phone calls, and so on chewed up an unbelievable amount of time and energy. Eighteen to twenty-four months later, I’d done very well but decided to look at how passive S&P 500 returns would’ve added up over the same period, and… they were roughly the same. Of course, you can’t always bank on this outcome, but beware of seeking complexity if you’ve been rewarded for problem-solving throughout your life. Looking back over the last 15+ years, the handful of investment decisions that made all the difference have been simple and were somewhat obvious to me, no major gear-grinding required. (3) Knowing when to buy isn’t enough. Have policies and rules for when you will sell, or the universe will punish you with very bad and very expensive decisions. (4) Don’t discount luck, including lucky timing. I started angel investing seriously in 2008 and hit a golden window of converging trends, cheap valuations (by today’s standards), and an uncrowded playing field. The financial crisis had culled the herd of a ton of investors and fair-weather founders. It was a target-rich environment, even for someone with very little to invest. Micro-VCs were just cracking out of their shells, and the big players hadn’t started assailing the seed stage stuff. In retrospect, it was a wildly rare combo of things. I don’t believe I could replicate what I did in 2008–2012 now. (5) Personally, I’ve largely stepped back from angel investing to double down on writing and the podcast (The Tim Ferriss Show, soon to hit 1B downloads). This comes from a desire for more predictability and less stress. I love the excitement of startups, and I’ve had some lucky wins, but I don’t find it nearly as interesting as developing creative muscles that bring in forecastable revenue year after year. For me, that has compounded more reliably than the all-or-nothing bets. Massive ups and downs in sectors like crypto also take a toll that reduces my creative batteries. In this chapter of my life, I think simplicity is the name of the game (e.g., finding one decision that removes 100 decisions). (6) Over-optimizing is just as bad, if not worse, than under-optimizing. Past a certain point, buying extra Skittles just doesn’t fucking matter. So, a note to self: stop fiddling around with your goddamn spreadsheets and get more interesting hobbies on the calendar. What hobbies? Exactly. (7) If we assume the point of investing is ultimately to improve your quality of life and the quality of life of those you most care about, investments that consistently add stress over long periods of time probably don’t make sense. Money is traded for things or experiences that catalyze certain feelings. If your investments are generating the opposite spectrum of feelings, it might be time to reassess. It’s easy to miss the forest for the trees. Money is a means, not an end. And in the end, most things matter very, very little. Do what helps you sleep at night and wake up with a low heart rate. To me, those are the hallmarks of a world-class investor who gets the big picture. tim.blog/2023/03/03/rev…

If you're ever wondering what the run up to $1M in monthly recurring revenue looks like, this might help you see the ups and downs of growth in a more realistic way that I went through. I know it's been helpful for some founders. Keep in mind it's '09-'13 era $'s.

For founders who ask "are we too early to apply to YC?" here are the actual numbers. 77% of the current batch had no revenue yet when they were accepted. 52% had nothing more than an idea.

Yuri Sagalov @yuris

4 years ago

More founders applied to YC W23 than ever before. Downturns are for builders.

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This is worth going to see in person if you visit Rome. I did and I still remember it vividly.

Massimo @Rainmaker1973

4 years ago

Tucked in the residential Roman neighborhood of EUR, a sprawling 1:250 scale model displays the glory of ancient Rome. Considered one of the most important references for how the city looked, it measures 16 by 16 meters and took 35 years to be completed buff.ly/2Inh6m6

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Beyond thrilled to help bring Google's insanely powerful AI technology to developers everywhere and accelerate the adoption of AI-powered software creation, while also bringing Replit to Google Cloud customers worldwide!

Replit ⠕ @Replit

4 years ago

We're teaming up with @googlecloud. Replit's 20M+ developers will get Google Cloud services, infrastructure, and foundation models. Idea to live software on Replit just got even faster.

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we are starting our rollout of ChatGPT plugins. you can install plugins to help with a wide variety of tasks. we are excited to see what developers create! openai.com/blog/chatgpt-p…

we ❤️ 🇮🇳

OpenAI @OpenAI

4 years ago

Great news! ChatGPT Plus subscriptions are now available in India. Get early access to new features, including GPT-4 today: chat.openai.com

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here is GPT-4, our most capable and aligned model yet. it is available today in our API (with a waitlist) and in ChatGPT+. openai.com/research/gpt-4 it is still flawed, still limited, and it still seems more impressive on first use than it does after you spend more time with it.

Founders - Who are your top 3? cbinsights.com

The market is like a rollercoaster, except you don't get a cool souvenir photo at the end! Get Free VIP Ticket now: bit.ly/london-trader-… #londontradershow #LTS2023 #fintorro #crypto #trading #investing #financialmarkets #tradingview

If you had to create a $20k MRR business in 24 hours, what kind of business would you start?

We bootstrapped @CBinsights by first building a totally different business It involved hedge funds, too big too fail banks and $100,000 PDFs For nerds interested in data and information services businesses, you might enjoy this

$Cashtags, now with data 📈 👀 $SPY 👇

My office at this moment. The papers on the desk are notes for a new essay. After dropping 10 yo off at school, I go for a walk and think about what to write next. I bring a piece of paper to scribble down notes that I never read, and probably couldn't.

Win or lose, respect to @elonmusk for being the man in the arena