“With [account-based marketing], you still need content, but that content needs to be calibrated for lower in the funnel. Or at least written in such a way that the goal isn’t to attract a massive audience form which you’re going to have to use software to filter the good [leads] from the bad…and instead focus on content that brings in a smaller audience, but the right audience. It’s a different way to think about content.”
In the complex domain, expertise doesn’t concentrate: under organic reality, things work in a distributed way, as Hayek has convincingly demonstrated. But Hayek used the notion of distributed knowledge. Well, it looks like we do not even need that thing called knowledge for things to work well. Nor do we need individual rationality. All we need is structure.
And since absolutely everyone but you knows that Steve Bannon is still pulling at your puppet springs, let me briefly comment on that festering hog. This guy is such a lowlife he has to look up to see hell and so crooked that if he swallowed a nail he’d spit up a corkscrew. I have never had one conversation with that conniving dog where I didn’t walk away scratching fleas. If you were even one twig smarter than that barn swallow’s nest sitting on your head, you’d see that Old Stevie is playing you like a fiddler at a West Texas kicker dance.
Despite the opportunity for early liquidity and the better economic case, we have a strong preference for buying equity. The core thesis of our fund is alignment with entrepreneurs and we continue to believe that buying equity is the best way to achieve this goal. It is hard enough to build a valuable company when everyone is pulling in the same direction, why would we want to enter a structure that could put us at odds with founders and employees. This is particularly important where the situation is fluid — the future is uncertain and companies may have to evolve due to changing regulatory, market or technical reasons. That pretty much defines today’s crypto market.