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Carta1


Our portfolio company eShares changed their name to Carta this week. Why? For a bunch of reasons, but mainly because the opportunity has gotten a lot bigger than “shares”. As founder/CEO Henry Ward points out in this post, the opportunity is to build the ownership graph: If you drill far enough into the ownership graph, through the pensions and real-estate trusts and all the shared ownership vehicles, you eventually get to a person. You reach their retirement plan or savings account or option grant or even a simple title representing their ownership interest. That is how our society works. The leaf nodes of the ownership graph must be individual people. This ownership graph is large and hard to quantify. We don’t know how many corporations, properties, investment vehicles, and partnerships exist in the world. But we do know if you mapped the entire graph your leaf nodes would eventually represent every person in the world. There are 7 billion people in the world. That is a lot of leaf nodes. Who knew the cap table market could be so big? If you and/or your company uses eShares (now Carta) to track your ownership table, you likely understand this. Using Carta is transformative for all parties. And that is why it is growing as fast right now as any software company I have ever been involved with. And the TAM, it turns out, is massive. A lot of our best investments at USV have gone this way. We invest early, when we like the product and the founder, and then over time the opportunity reveals itself to everyone (including the founder) to be a lot bigger than anyone thought. “Sharing what you had for lunch?”, “an API for text messages?”, “a search engine for jobs?”, “a Bitcoin wallet in the cloud?” and now we can add “cap table software?” to that list. http://avc.com/2017/11/carta/

Carta1


Our portfolio company eShares changed their name to Carta this week. Why? For a bunch of reasons, but mainly because the opportunity has gotten a lot bigger than “shares”. As founder/CEO Henry Ward points out in this post, the opportunity is to build the ownership graph: If you drill far enough into the ownership graph, through the pensions and real-estate trusts and all the shared ownership vehicles, you eventually get to a person. You reach their retirement plan or savings account or option grant or even a simple title representing their ownership interest. That is how our society works. The leaf nodes of the ownership graph must be individual people. This ownership graph is large and hard to quantify. We don’t know how many corporations, properties, investment vehicles, and partnerships exist in the world. But we do know if you mapped the entire graph your leaf nodes would eventually represent every person in the world. There are 7 billion people in the world. That is a lot of leaf nodes. Who knew the cap table market could be so big? If you and/or your company uses eShares (now Carta) to track your ownership table, you likely understand this. Using Carta is transformative for all parties. And that is why it is growing as fast right now as any software company I have ever been involved with. And the TAM, it turns out, is massive. A lot of our best investments at USV have gone this way. We invest early, when we like the product and the founder, and then over time the opportunity reveals itself to everyone (including the founder) to be a lot bigger than anyone thought. “Sharing what you had for lunch?”, “an API for text messages?”, “a search engine for jobs?”, “a Bitcoin wallet in the cloud?” and now we can add “cap table software?” to that list. http://avc.com/2017/11/carta/

Carta1


Our portfolio company eShares changed their name to Carta this week. Why? For a bunch of reasons, but mainly because the opportunity has gotten a lot bigger than “shares”. As founder/CEO Henry Ward points out in this post, the opportunity is to build the ownership graph: If you drill far enough into the ownership graph, through the pensions and real-estate trusts and all the shared ownership vehicles, you eventually get to a person. You reach their retirement plan or savings account or option grant or even a simple title representing their ownership interest. That is how our society works. The leaf nodes of the ownership graph must be individual people. This ownership graph is large and hard to quantify. We don’t know how many corporations, properties, investment vehicles, and partnerships exist in the world. But we do know if you mapped the entire graph your leaf nodes would eventually represent every person in the world. There are 7 billion people in the world. That is a lot of leaf nodes. Who knew the cap table market could be so big? If you and/or your company uses eShares (now Carta) to track your ownership table, you likely understand this. Using Carta is transformative for all parties. And that is why it is growing as fast right now as any software company I have ever been involved with. And the TAM, it turns out, is massive. A lot of our best investments at USV have gone this way. We invest early, when we like the product and the founder, and then over time the opportunity reveals itself to everyone (including the founder) to be a lot bigger than anyone thought. “Sharing what you had for lunch?”, “an API for text messages?”, “a search engine for jobs?”, “a Bitcoin wallet in the cloud?” and now we can add “cap table software?” to that list. http://avc.com/2017/11/carta/

Which lever are you going to pull today?1


In every part of your life, you get to pull two levers today. In your business, you can choose to juice up revenue or take a hit to improve customer value. At work, you can choose to put in extra effort that’ll help your next promotion or raise or invest time into learning a skill that matters. At home, you can choose to spend more time answering email to fight the fire of the day or engage with your family. On the dinner table, you’ll can choose to eat that pastry or get an extra serving of broccoli. On the exercise mat… well, you’ll first need to choose to go to the gym or to open the exercise mat over everything that’ll help in the short term. The answer is not to ignore the short term. We need all that stuff – revenues, promotions, raises, fire fighting, etc. But, to what end? Nearly every indicator and incentive we see is short term focused because the short term is easy to measure. Those levers are the brightly colored ones in front of us. The best way to fight this is to unabashedly optimize for the long term. When in doubt, pick customer value, long term learning, engagement with the people that matter and more time on the exercise mat. And, oh, you won’t go wrong with picking the broccoli more often than not. Err on optimizing for the long run. The short run becomes the long run before you know it. Share this: Facebook Twitter LinkedIn Like this: Like Loading... Related https://alearningaday.com/2017/10/18/which-lever-are-you-going-to-pull-today/

Doing the work and presenting the work1


Would the iPhone have been as successful if Apple shipped it without that presentation from Steve Jobs? Given how exceptional the device turned out to be, it just might have. But, that presentation sure helped.  A lot. In fact, years of doing those phenomenal presentations meant the iPhone was already set up for success. There are many of us who separate doing the work and presenting the work. And, I’ve heard many talk about how they feel they’re good at doing the work but not as good as presenting it. I’m definitely one of them. I’ve moaned about it in the past. And, even if I moan about it less, I often slip on giving enough thought to the presentation and narrative. But, as in the case of the iPhone, presenting that piece of genius in a way that befit it was an important part of doing the work. It is hard to separate the effect of the making and the sharing. Sure, it would be impossible to present something that isn’t built. But, once it is built, the presentation is a key part. The presentation isn’t always a presentation of course. It is about building and sharing a story that resonates with the folks who’d like to buy it. We also call this marketing. Companies that succeed do a phenomenal job marrying great R&D (research and development) and marketing. We need to do so in our work as well. Do the work first. But, don’t forget to take a step back afterward and share a story that resonates. Give your work the story it deserves. Share this: Facebook Twitter LinkedIn Like this: Like Loading... Related https://alearningaday.com/2017/10/19/doing-the-work-and-presenting-the-work/