Plans vs. Routines

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Sunday night over dinner, my son, parents and I were discussing the saving / investing system we set up for our kids in the spring. The idea was/is: set a monthly budget for purchases (in their case, mostly online movies, tv shows and games), and include a really healthy interest rate (20% monthly) to encourage savings. What a great idea! I got lots of really nice feedback on the post back in March.

My son described the system to my parents, but instead of describing the concept, as I just did, he described the reality: we set the budget, did it for a few months, and then basically forgot about it. So, rather than teach my kids a valuable lesson about saving and investing, I thought them how weak my own follow-through can be. Ouch.

It reminds me of a psychology study that found that announcing a plan is, in fact, detrimental to seeing the plan through — because, you get a nice dose of good feeling by announcing the plan, so much so that you lose the motivation to actually do it. This is, of course, problematic, and to be avoided.

If I’m honest, I can think of plenty of times where this has happened to me. I’ll refrain from listing them all out here, but trust me, there are more than a few examples. Looking back, the times I have been the most successful at seeing something hard and long-term all the way through are the times when I have just done it and not said anything about it. Show, don’t tell.

The holy grail is when something goes from being a plan to being a routine. Routine is so powerful, and yet somehow, sometimes, so elusive. At USV, we have built-in routine in some very useful ways — most notably, around our Monday team meeting (similar to most investment teams). The cadence is valuable and sets the tone for a lot of our work.

I have personally found it harder to get good routines going when it comes to writing, exercise, and a bunch of other things I think are important. Generally speaking, I find myself to be more bursty than reliably consistent. It is something to work on (but not talk about until it’s done…)

The Adjacent Possible

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Dani and I have been spending a bunch of time recently thinking about the relationship between applications and infrastructure.  It’s a little bit of a chicken and egg situation.  You need infrastructure to build apps, but often times you don’t really know what kind of infrastructure is needed until you build some apps. For example, we… Read more »

Getting the Chills

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One of the greatest things Frannie and I have in common is that we get the chills from music — typically at the exact same time, triggered by the same musical… something. For me it starts  at the back of my neck, and if it’s really good, it spreads all over my back, head, and… Read more »

The Utility Infielder

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My favorite baseball player is Brock Holt, and has been since his first season with the Red Sox back in 2013.  Here is me last month wearing my Holt jersey that I wear to every game (note the #26 that he started out with, before it was retired for Wade Boggs a few years ago… Read more »

Fear

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I have been helping my son, who is in 4th grade, with his math — specifically, multiplication.  He feels like he is a little bit behind, so we are working on it so he can get more comfortable.  It is going well now — we have gotten into a routine of spending 15 minutes per… Read more »

Form factor

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Over the past few weeks, I have varied up my computing habits a bit.  For a laptop, I have been using a Pixelbook, and I have also been spending more timing using an iPad Pro for work (vs my default of using a Mac laptop for everything). What I have discovered is that the form… Read more »

A little, and then a little more

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Back in May, I had what ended up being a major hand surgery — repairing a torn tendon and in the process reconstructing the end of my pinkie by grafting tendons borrowed from my ring finger.  As a result, I am now recovering from two injuries — the pinkie itself and the ring finger that… Read more »

Layers

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A central concept on the internet is Layering.  Each of the protocols in the internet stack talks to the layer directly above and below it — new protocols can be added as long as they speak the language of their layer.  Protocols at one layer can be upgraded so long as they don’t break compatibility… Read more »

Minimum Viable Economy

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One of my favorite things about the cryptocurrency / blockchain space is that our conception of “what it all means” is still very much in flux. Nic Carter just published a nice analysis of how the functional narrative around bitcoin has changed over time – (roughly) from e-cash, to e-gold, to private currency, to a… Read more »

The path to decentralization: self-destructing companies

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In June, the SEC gave some of its most concrete guidance to date that cryptoassets can start out as centralized projects, possibly initially sold under securities laws, and eventually become “decentralized” and thus no longer sponsor-controlled, and no longer sold or transferred under securities laws. It makes sense that a decentralized protocol does not fit… Read more »

Trust and fairness

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I was at an event last night, where the moderator, Preeti Varathan from QZ observed that there seemed to be a lot of cynicism in the blockchain / crypto space — in other words, that the whole thing was essentially premised on a distrust of existing systems (fiat currencies, large internet companies, etc). It’s an… Read more »

Compound interest goes in both directions

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There is no shortage of writing and punditry about the power of compound interest. As usual Naval has a pithy tweet about it: Play iterated games. All the returns in life, whether in wealth, relationships, or knowledge, come from compound interest. — Naval (@naval) May 31, 2018 I have been thinking about this a lot… Read more »

just_work = true

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One of my former colleagues, Rob Marianski, and I used to have a running joke — we would be building and debugging something, and he’d finally say, “Oh, so you just want me to set just_work = true?”.  That was over 10 years ago, but it still gets me every time for some reason.  (as… Read more »

Focus

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Ryan Caldbeck is on fire on Twitter right now.  Ryan is the CEO of our portfolio company CircleUp, and he just joined Twitter for the first time earlier this year and is, I may say, feeling very comfortable in the medium.  Over the weekend he put up a great diagram-oriented tweetstorm with a bunch of gems… Read more »

Digital scarcity

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As readers of this blog can tell, I’ve been spending a lot of my time recently focused on cryptonetworks and blockchains, and in particular, working through the complex legal and regulatory issues involved. Explaining what cryptocurrencies, cryptonetworks and blockchains are is hard to do.  As Naval recently said on twitter: It is the mark of… Read more »

Zombies eating kitties

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On Tuesday we announced our investment in Cryptokitties, and, as you might expect, received a combination of enthusiasm and skepticism in response.  Bitcoin and cryptocurrencies already sound ridiculous to most people, and virtual “real” kittens made out of cryptocurrency take it a step further. But, as with many new technologies, these first use cases just… Read more »

A bigger container

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An idea I like from Zen Buddhism is becoming a Bigger Container.  My understanding of the idea is this: There are a lot of difficult/bad/sad/scary things going on in the world, ranging from serious global issues, war, famine, terrorism, etc; to things in your city like homelessness or joblessnes; to things in your family, like… Read more »

Cryptonetworks and why tokens are fundamental

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“Cryptonetworks” can help us build a more competitive, innovative, secure and decentralized Internet.  “Tokens” (also known as cryptocurrencies or cryptoassets) are integral to the operation of cryptonetworks.  As we design new laws and regulations in this emerging space, we should keep these concepts in mind, beyond the financial aspects that are today’s primary focus. In… Read more »