Nobody Trusts Facebook. Twitter Is a Hot Mess. What Is Snap’s Evan Spiegel Doing? – Bloomberg

Read the whole thing.

But I would just love to work at a place where you don’t know what your goals are.

Nobody Trusts Facebook. Twitter Is a Hot Mess. What Is Snap’s Evan Spiegel Doing? – Bloomberg:

That same month, workers were told they wouldn’t be receiving cash bonuses because the company didn’t meet its goals. They hadn’t been told what the goals were.

Benchmark’s Sarah Tavel: Startup Mega-Rounds Are ‘Double-Edged Sword’ | Fortune

Interesting interview.

I like this answer to this question.

Benchmark’s Sarah Tavel: Startup Mega-Rounds Are ‘Double-Edged Sword’ | Fortune:

Do you think your operating experience has made you a better investor?

TAVEL: Without a question. One, you have an immediate level of empathy for the founders because it’s so freaking hard. Two, I’m much more interested than I used to be in the thought process that got to the metric they’re focused on today because that reflects how they’re running their company.

It’s important to remember that no company that goes through hyper-growth is always up and to the right. There are always these moments where you’re asking, “Are we going to lose this?”

I remember by the end of my time at the Pinterest, I joked that I felt like one of these veterans that you see in World War II movies. They would be sitting there, smoking their cigarettes when a little bomb goes off. All the new recruits run for their guns or jump for cover, while the veterans are still smoking their cigarettes. By the end of your experience at a high-growth company, you’re the veteran smoking the cigarette. And that’s who you want on your board. You don’t want the person who is going to be jumping for their gun or running for cover when there’s a little bump in the road because there will always be bumps. You want the person who isn’t frazzled by it and is always focused on the long-term. You can get that from 20 years of being a venture investor or from a few years of being an operator.

Data Room Hacks

From time to time I get impressed by a startup and how they work during fundraising.

Fundraising is a process and anything the start-up can do that helps the VC move faster – both parties will greatly benefit.

First off – when a startup has a great data room things always go smoother.

Usually startups are using google drive or box or dropbox.

One nice hack we saw recently was using a google sheet to build the index to the data room with comments and links to the specific docs in the drive. Pure gold. Made it so much easier to work.

Another one that I am loving is the constantly evolving FAQ. The startup has taken all the questions they have been asked and put the question and answers in the doc. As we have been working on the deal they have added our questions with answers and we have seen new ones added as we go. Super helpful.

I know none of this is rocket science but sure makes it easier to get shit done.

Carry on.

Sea’s E-Commerce Success Will Depend on a Juggling Act – Bloomberg

Great to see some writing that actually digs into the numbers and teases the truth apart. Versus a – SEA increased revenue post.

I am rooting for these guys – we need to take some pride in a homegrown player going all the way.

Trimming marketing costs while stoking revenue growth won’t come easy.

— Read on www.bloomberg.com/view/articles/2018-08-22/sea-s-e-commerce-success-will-depend-on-a-juggling-act