LinkedIn’s Series B Pitch Deck to Greylock

Reid recently published the pitch deck he used to raise money for LinkedIn in 2004, when it didn’t have a dime in revenue, from Greylock Partners. Alongside the original slides, he includes historical context and relevant pitch advice for entrepreneurs. It’s a treasure trove of information. Mandatory reading for anyone raising money from VCs, or anyone looking for context on the amazing company Reid co-founded. In a separate post, he also summarizes more briefly his top overall lessons on pitching VCs.

Special thanks to Ian Alas on our team who spent several months working on this. It will go down as a piece of Silicon Valley history.

Practice vs. Practice That Leads to Refinement

Herbert Lui writes:

As Ira Glass so famously put it, the best way to refine your craft is to create a huge volume of work. Not to create the most perfect piece you can, but to create many pieces of work.

To which the always-worth-reading Will Wilkinson responds (in a post that seems to have disappeared):

This strikes me as correct, incorrect, and boring. That practice makes perfect is not news. But perfect is unlikely to be made unless one practices toward it. It’s not possible to do or make something really well without a huge investment of time and energy, and most of that has to be spent on what amount to mundane excercises. Writing thousands of blog posts is good practice for writing generally, and I believe it has improved my prose. Yet this sort of thing is not good practice for refining one’s writing unless one tries to write with increasing refinement. Otherwise, one develops ingrained habits of shittiness. Perhaps the greatest hazard of journalism is that one accedes sooner or later to the norm of clarity, to the debased idea that the aim of style is efficient communication. The perfection of prose lies in the music, energy, and intelligence of expression, and one doesn’t approach it by hammering out volumes of airplane magazine writing.

That said, one can’t write oustanding stories or outstanding books  just by polishing sentences, or fixating on any other single element of the larger craft. One must write stories and books, and the more of them one writes, the better they’ll get. But, duh.

As he says, duh, but worth remembering. I was “practicing” my public speaking for several years, but until recently (!), wasn’t actually refining my skills in an intentional way. Probably the same with my writing — I’m ingraining whatever habits I’m ingraining. I’m not actively improving. I’d like to change that, as I’m doing with speaking.

Speaking of writing, here’s an interesting couple paragraphs on whether Updike was an artist or just an expert craftsman with words, on whether good writing is good enough:

One can open the Collected Stories to almost any page and find a surprising metaphor, a lovely description, or a wry morsel of irony without remembering much of anything about story that contains it. The stories that I’d already read and admired, the ones widely regarded as Updike’s best — “Pigeon Feathers,” “A Sense of Shelter,” “In Football Season,” “The Persistence of Desire,” “The Happiest I’ve Been,” and, of course, “A&P,” for decades a stalwart of high school curricula — now strike me as a largely comprehensive list, in little need of emendation in light of Updike’s larger corpus.

The curious paradox of Updike is that he made art into a craft, but only rarely did he transcend craft to achieve art. In a sense, then, the answer to [critic James] Wood’s question [“of whether beauty is enough”] is that beauty is not enough, at least not the beauty of finely tuned prose and vivid images that was Updike’s specialty. Art requires the wedding of aesthetics and morals, and the case might be made that the morals are more important; few people would call Dostoyevsky a beautiful writer, but even fewer would contest that he was a great artist.

San Francisco’s New Entrepreneurial Culture

My old friend Nathan Heller has a new piece in the New Yorker about how youthful go-getter entrepreneurs, and the companies they’re founding, are remaking the culture of San Francisco. I am quoted in the piece. It’s impressionistic — it gives you a feel of the place — more than it advances a single overriding thesis. This sentence caught my attention:

[San Francisco contains a] rising metropolitan generation that is creative, thoughtful, culturally charismatic, swollen with youthful generosity and dreams—and fundamentally invested in the sovereignty of private enterprise.

 Worth a read.

Nassim Taleb on Living in the City vs. Country/Nature

On Facebook, he writes:

I have a question about true vs constructed preferences, wondering if some of my personal observations are general. Feel free to share your own.
Places held to be touristically either uninteresting or unattractive (or not particularly special) are associated in my personal memory with a lot better souvenirs than places held to be attractive. These “attractive” places evoke boredom (after the first contact and “wow! how beautiful” the scenery), rich farts, gold-diggers, Saudi “princes” in convertible Italian handmade sports cars, tourists being fleeced by locals, etc. This is easily conceivable based on habituation: inside a café, trapped in conversation, you forget that you are in West Philadelphia. Kahneman had a paper indicating that people who live in California are not really happier than those in the rest of the country, but don’t know it, and live under self-sustained myths. After a brief period, you treadmill to baseline. But as with people who are in California telling themselves that they have to be happier, because that’s the prevalent belief, we end up living in a postcard-like system of constructed preferences.
I agree that being exposed to natural beauty, once in a while, brings some aesthetic contentment, or episodic visits to the country bring some relief. And I accept that it is better to have some fractal dimension (trees, nature) in one’s permanent landscape. But I wonder if, for day-to-day life, one needs much more than ample sunlight and view of trees outside the window: beyond that, no postcard life can be a tradoff for absence of trusted and warm neighbors, plenty of relaxed friends, stimulating conversation, ability to walk places, and a consuming activity.
When I look into my personal raw preferences, I feel I prefer Brooklyn to the South of France, ugly West Philadelphia to the scenic Amherst (Mass), Milan to Florence, and Clerkenwell to Kensington. Question: Do we tend to follow the current culture as punishment?

(Hat tip: Ted Gonder)

Who Today is Driving a Herd of Symbolic Bulls Through the Gardens of Convention?

The best opening paragraph to a profile of someone that I’ve read in awhile:

The most important thing about artists is that they should behave like artists. Who wants a creator who sounds like a real estate agent when you could have one who walks his pet lobster through the Palais Royal gardens on a blue silk ribbon? Responsible behavior in an artist is like modesty in a stripper: unbecoming, dispiriting and not at all what you signed up for. Today they often appear like business gurus or politicians, slick with financial nous and deep into the yoga of modern public relations, and it’s possible to forget that we once looked to the artist to ridicule our common pieties. We once had Salvador Dalí teasing his mustache and the public’s unconscious. We had Andy Warhol creating a scene, producing movies, art, fashion, offering himself as a strange and wonderful embodiment of the idea that the artist could be a work himself. Who is the Picasso of today — driving a herd of symbolic bulls through the gardens of convention and changing our idea of how to see?

His name is Not Vital.