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Joined 1 year ago
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Cake day: June 30th, 2023

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  • Others have touched on this, but isn’t this a good thing? You should NEVER quit without recourse - it makes you ineligible for unemployment. Scenarios:

    • you want to leave, you tell your manager, they resolve the issue, you stay and are happier

    • you want to leave, you tell your manager, they don’t resolve the issue, you engage in getting fired, you get fired, you file for unemployment

    • you want to leave, you tell your manager, they don’t resolve the issue, you engage in getting fired, you don’t get fired, you collect wages for little/no work while job hunting

    • you want to leave, you don’t tell your manager, you engage in getting fired, you get fired, you file for unemployment

    • you want to leave, you don’t tell your manager, you engage in getting fired, you don’t get fired, you collect wages for little/no work while job hunting

    • you quit, you get nothing

    It’s like a weird game theory problem, but IMO quitting is the WORST choice. Sure, the employer could challenge the unemployment claim, but many don’t, and those who do don’t typically win.







  • Others have basically captured it, but my read is a massive change in the overall risk profile held by venture capital firms. The time of reckoning has come, and it’s time for everyone’s (or at least VCs’) favourite three letters: ARR (Annual Recurring Revenue).

    The last twenty years, we’ve seen this sort of spray-and-pray model, where 99 bad investments could be offset by 1 “unicorn”. The risk appetite seems to have shifted largely because 1.) there’s a higher volume of early stage concepts (so there’s more bad ideas), and 2.) there’s either fewer unicorns, or the unicorns that mature are ultimately less valuable.

    Crunchbase put out a good analysis of the current trend of global venture dollar flow:

    The Party’s Still Over: The VC Downturn In 6 Charts

    You can read news from various outlets - some say it’s a post-pandemic correction. Some say it’s because labour is too expensive. But the bottom line is that VCs aren’t willing to spend money on “users-in-lieu-of-revenue” like they once were, and I honestly don’t blame them. There were a lot of really, egregiously stupid ideas coming out of SV, and their wax wings melted. sad_trombone.mp4

    Adam Kotsko summed this entire phenomena up nicely: