Co-Founder of the Austin Baseball Commission and Founder/CEO of https://xitter.cf/t.co/I0N8rTiAWd
Austin, TX
Joined August 2009
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A major league city deserves a major league team!
You can access the link to our article in the Austin American Statesman here:
lnkd.in/g6chhTjc
And if you get paywalled here is the text:
lnkd.in/gt3ZzsHR
Dustin_Byington retweeted
→ The wage reversal is already happening.
Skills ranked by current wages vs. future human agency needs show a massive shift:
• "Analyzing data" dropping down
• "Training others" rising up
• "Interpersonal skills" becoming premium
Dustin_Byington retweeted
MLB Viewership is on the rise BIG TIME
This year vs Last year
FOX = +10%
ESPN = +22%
TBS = +16%
(Up 69%‼️ in the 18-34 demographic)
@MLB Network = +13%
MLB TV = +27%
NHK (🇯🇵) = +22%
Been saying it for years…..
Baseball 📈📈📈
Dustin_Byington retweeted
What Musk did with the Twitter files, he’s now going to do to the entire federal government. What’s coming is a witch hunt on steroids
New morning routine: wake up, red light, cold plunge, watch Michigan walk into the Horseshoe. @hubermanlab
Dustin_Byington retweeted
Amazing. Federal government officials in roles like these have spent 30 years trying to sabotage, destroy, and outlaw exactly this kind of encryption. Are they finally going to stop doing that?
Michigan just landed the number 1 overall recruit - the highest rated recruit in Michigan history.
We’re going to just forget this season ever happened.
Breaking: Bryce Underwood, ESPN’s No. 1 overall recruit in the Class of 2025, is flipping his commitment to the Michigan Wolverines, he told school officials today.
It’s a big day for @umichfootball, HC Sherrone Moore and @champcircleuofm as they land the highest-rated recruit in school history.
Dustin_Byington retweeted
“We have a model that assumes that by 2050 #Bitcoin becomes a reserve asset that is held by central banks at a 2% weight. In that model we arrive at a $3M price target for Bitcoin.”
- VanEck 🚀
🇺🇸
- culture that celebrates risk-taking
- ingrained hatred of bureaucracy
- robust capital markets
- Starbucks nitro cold brew
- cheap and abundant oil
- “you can just do stuff”
- investment bankers that work until 2 AM
- low barriers to entry for entrepreneurship
- cheap and abundant Zyn
- manifest destiny
- private equity
- Delaware C corporations
- freedom of speech
- air conditioning
- M&A markets
- interstate highway system
- meritocracy
- low capital gains taxes + QSBS exemption
- McDonalds
- incentives for getting shit done
- university Greek life system
- the Commerce Clause of the US Constitution
- New York City
- grocery stores that literally made Soviet politicians cry
- at-will employment
- Walmart
- everyone in the world speaks our language
- Mississippi River barge traffic
- GPU clusters
- ability to get filthy rich even if born poor
- pickup trucks
- state-school engineering programs
- SBA 7a loans
- Sand Hill Road
- Michael Jordan
- 50 states competing for business
- significantly more sunlight than Europe
- the Homestead Act of 1862
- old-school DARPA
- no union reps on corporate boards
- risk of dying poor even if born rich
- we don’t take the month of August off
- the entire state of Texas
- the smartest people in the world move here
- did I mention we despise bureaucracy?
Keep an eye on this one:
Glad to announce @OpenLedgerHQ - The sovereign data blockchain’s $8 million seed round led by @polychaincap & @borderless_cap .
OpenLedger addresses the bottleneck of data in AI by making the infrastructure for data lifecycle verifiable, permissionless, and censorship-free!
We’re working to reach over 100,000 TPS on OpenLedger devnet utilizing cutting-edge hardware!
Here are the milestones of our journey that led to the creation of OpenLedger… 👇
Let’s bring the ‘venture’ back to venture capital.
When I was just starting out in venture, a very experienced VC gave me the this advice:
"Our best investments are the ones that don't squarely fit our model. They're too high priced, or low ownership, or off thesis, or maybe the founder doesn't reference well. The fact that we were willing to break our rules to invest was a signal that it was a special company. We put rules in place not to follow them, but to know when something is an extreme outlier"
I think about that all the time.
Dustin_Byington retweeted
Team 144
National Champions
#GoBlue
Angels who don’t invest in SAFEs are like crypto founders who aren’t on telegram.
West Coast investor: “nice, love it, I’ll wire $50k later today.”
East Coast investor: “but you need a detailed financial plan!!! Can I see it? What about a data room? You call yourself a pre-seed! I’d love to speak with your co-founders. ASAP. Sorry I don’t do SAFEs, how about a convertible note? Yeah, not sure if AI is a fad or not. Leaning toward fad. Can you meet in person in 3 weeks? I’m sure the round will still be open.”
Great post from @chamath on how defensiveness in poker ♠️ ♦️ applies to business 💰🧳. Here is my recent experience:
Monday was my 39th birthday and I spent it playing poker with some friends.
It got down to 4 people; 3 paid.
I was the small stack and got into super defensive mode as I tried to barely stay alive. This is referred to as “bubble” strategy.
I was hoping my opponents would take each other out and I would make the money and return home to my wife who I know has little tolerance for bad cards.
Stakes were small but in a former life I was a pro poker player and many of the players were new to poker - we even had a rule sheet out for some of them.
So in this instance it was even more important to play defensive because a) my opponents are likely to make mistakes and b) I have the opportunity to generate huge amounts of equity with no risk (when I fold and my opponents knock each other out).
This was some of the best poker I ever played.
I made some folds that few in the room would understand if they saw my hole cards.
But from the outside looking 👀 in it didnt seem flashy/crazy/remarkable.
This is very different than I used to play.
I made my money in cash games but never did great in tournaments where I thought big/bold/win or go home was the way.
But then I flew out to Vegas to watch my friend @DWBenefield make the final table of the WSOP main event.
After the tournament (he finished 8th) I asked him about his tournament strategy.
He said one word that has always stuck with me: survivability.
David was not only betting that his opponents would make mistakes… but he knew his talent would allow him to take maximum advantage of opportunities when they presented themselves (he was/is one of the top players in the world).
Why risk all your chips on a coin flip when you can be patient, be defensive, and get it in as a huge favorite.
And you can’t do that if you’re out of the tournament.
All of this applies directly to business… especially if you think you have the talent to maximize your edge when the opportunity presents itself.
For me and my company t12.ai - survival has been the objective for many years.
I have experience building 🦄 companies but the cap table journey has been hard.
Cap tables were completely uninteresting to the market and practically un-investible as a category for years.
But I was passionate about solving problems for founders, and knew that the current solutions were under delivering value.
As far as I was concerned - no one had won the tournament yet. If I had a chip and a chair good things were possible.
And then - AI happened which opened new opportunities for us to change the way the job was done.
And then - right as we were about to relaunch our biggest competitor made a huge blunder.
And then - staying alive revealed some extraordinarily exciting complimentary problems to solve in the data room category.
None of this would the have been possible if my startup busted.
So founders. Take chamath’s advice and make small bets.
Survive until you see your opportunity… and then shove with every ounce of energy in your soul.
Even when the odds are in your favor it’ll take everything you got.
Earlier this week on Spaces, someone asked me about how poker has informed my view of business risk. In short, profoundly.
Poker is a fundamentally defensive game when played at an elite level. A defensive game doesn’t mean you can’t generate huge profits. In fact, poker can yield enormous profits but the way it happens is unintuitive to most.
Maximum profits in poker, and other defensive games for that matter, occur when your error rate is less than your opponent’s error rate.
So their errors - your errors = your profit. If you minimize your errors, you maximize your potential profit.
This simple formula forces you to learn that a lot of the time, the biggest enemy of your success is you. By managing yourself in a predictable, reliable way, you give yourself time for your opponent to self-own themselves. This is true in poker, but it is even more true in business.
As an example, suppose you have an R&D budget and you’re trying to build a product. Once you have some initial product market fit, the most important thing to do is to allocate your remaining resources in a thoughtful way.
You should have many small bets that extend the product area. If any one of these fail, it won’t be life-threatening and you will have learned something that will reduce your future error rate. These small bets can then ladder into a few medium-sized bets which ultimately lead to a few large bets. In such a process, you’ve not only taken many bets, of various sizes, you’ve also done this over a long quantum of time. In that same time, a less organized competitor will eventually do something wrong/stupid/both.
Said differently, you’ve de-risked your error rate in a thoughtful methodical way and have evidence that things are working while giving your competitor enough time to flail and eventually fail.
In so many companies that I’ve invested in and companies that I’ve worked for, I’ve seen enormous bets being made too early, and mostly out of ego. These bets are rarely rooted in data and most have eventually been rolled back.
The second thing to understand in poker is that when you make many small bets, you can play more hands - and some of these can lead to huge pots. Some of the biggest pots I’ve won have been with 2-2 and 8-6 suited while some of the biggest pots I’ve lost are with A-A!
In business, as in poker, you have to make unconventional bets if you want to win huge pots. And the no-brainer bets are rarely big winners and can sometimes come back and sting you. So as an investor, by keeping my bets small I keep my errors small while giving myself a chance to win big by doubling and tripling down at the right time.
“You get punched in the face enough you start to like the taste of your own blood”
This video was made with the not-yet-released Sora AI technology just announced from OpenAi. This changes everything. It's 27 seconds from a text prompt.
Here is their prompt:
Prompt: A white and orange tabby cat is seen happily darting through a dense garden, as if chasing something. Its eyes are wide and happy as it jogs forward, scanning the branches, flowers, and leaves as it walks. The path is narrow as it makes its way between all the plants. the scene is captured from a ground-level angle, following the cat closely, giving a low and intimate perspective. The image is cinematic with warm tones and a grainy texture. The scattered daylight between the leaves and plants above creates a warm contrast, accentuating the cat’s orange fur. The shot is clear and sharp, with a shallow depth of field.
Content creation has just changed forever. 🚨
That is not an over-exaggeration.
I’ve been in the YouTube world for 15 years, what Open AI has just showcased has left me speechless…
Immediate thoughts/predictions:
- Animators/3d artists are in trouble
- Stock footage websites will be made irrelevant
- Anyone can have great B-roll, literally immediately
- 0 barriers to entry for incredible production value
- The 'idea' and story behind content becomes even more important in a world where everyone can make beautiful videos
- Will really disrupt education/video essay/explainer niches