Apple Sucks?


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Apple Sucks?
By Keith Teare • Issue #300 • View online
Apple held one of its 3-4 annual launch days this week and showed us the M1-Ultra. And a new 27" Screen. @Om has a top end Apple display but still lusts after the less expensive new one. What gives?

The biggest development in my world this week (assuming we do not want to talk about the Russian massacre of innocents in Ukraine) is that Tiger Global partners Scott Shleifer and Chase Coleman announced that they were planning to put $1 billion of their own capital into Seed Funds as Limited Partners. $300 million or so every year.
But, in Om Malik’s world, it was the announcement of the new Apple Display. Once I read his piece I put my Apple XDR Display up for sale on eBay and ordered the new display plus the M1-Ultra version of the Apple Studio. I could not resist. And that is the thing about Apple. It is streets ahead and can reliably release new innovations every year that leaves you unwilling to resist. Read Om’s piece. It leads this week’s newsletter. And try to resist :-)
But back to seed funds. It is a very big deal that Tiger’s partners are investing in seed funds. A far smaller operation is also investing in Micro-VCs as they are also called. The seed stage of the venture value chain is fundamentally important. If anybody asks where Unicorns come from, they come from the best seed managers. And getting ahead of the game by being an investor in the best funds is very smart compared to fishing only at the B round or later.
On a personal note, this is close to what we did at ADV in 2016–20. Lee Straford, David Carr, Michael Dimelow, and the rest of the team set out to partner with the UK’s leading seed investors. We focused on twenty-one funds and invested as an LP in seven of them. We soon realized that LP investments were only a good plan B. Our product offerings to seed funds soon grew and the best performing product was able to grow far faster than the seed fund investments themselves and return more value to the fund managers than a simple LP investment would have done alone. I think Tiger may have 3–4 years of learning in this space before they arrive at their final offering for seed managers. But it is great that they are starting that learning process.
As for the rest of the venture space, it seems the organization of a DAO-like structure is being embraced by Bessemer Ventures and also by Bain Capital (but as an investor into them). This is the same week that Joe Biden announced a deep dive by the government into the role crypto might play for the US Dollar and Jack Dorsey predicted the end of the US Dollar as a reserve currency for the world, replaced not by China but by Bitcoin.
A lot to discuss in this week’s video
Apple Sucks?
Apple Sucks?
Apple Sucks?
Om Wants One, Do You Want One?
Om Wants One, Do You Want One?
More Crypto More of the Time
How a New Digital Dollar Could Shake the US Financial System
Mitch Klee⚡
Hey @RayDalio, in your "Changing world order" you note the new rising power and future currency is within China.

I think you have a blind spot, and that is much like the printing press, and the internet, decentralized money changes the entire game. #Bitcoin will win.
Credit Suisse Strategist Says We're Witnessing Birth of a New World Monetary Order
Stripe is getting into the crypto payments business
Reality Intrudes on a Utopian Crypto Vision
Venture DAOs and Seed Fund Investing
Venture Firm Bessemer Creates DAO, Earmarks $250 Million for Crypto Deals — The Information
Bain Capital Crypto execs explain why they’re setting their sights on DAO services
Tiger Global Partners Commit $1 Billion for Early-Stage Tech Funds — The Information
AngelList is a Miracle of A Company and Getting Better With Age…And Vertical Remains a Great Way to Go Horizontal
Maren Bannon
Founders- be careful not to take too much dilution in early rounds.

A general rule of thumb is that you'll take 10-20% dilution per round. You should own >50% before raising Series A.

Many startups raise angel, pre-seed, seed & seed+ rounds. 4 rounds can mean a lot of dilution
Seven Seven Six Seeds A Cohort Of New Micro Funds - Forbes
Big Tech is Sanctioning Nation States
More Tech Companies Are Imposing Their Own ‘Sanctions’ On Russia
Facebook will now allow posts calling for violence against Russian soldiers
Startup of the Week
Amazon board approves 20-for-1 stock split, its first since before the dot-com bust - GeekWire
Tweet of the Week
Keith Teare
A new post in 'That Was The Week'
You’re Overlooking a Source of Diversity: Age
You’re Overlooking a Source of Diversity: Age
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Keith Teare, Palo Alto, California