Elephant Gun
w.185 | Adani, Carson Block, Extinction Event for Startups, Nathan Schneider
Dear Friends,
I’m going to be short and sweet with Declarative Statements this week. I am mid-stream on another writing project, which I will share soon.
For a laugh, I received the message below this week from a well-intentioned someone who I’m pretty sure if you asked, “Who is Katelyn Donnelly?” or showed him a picture of my face, would be hard-pressed to provide an answer:
Somewhere in the notion of ‘consciousness’ for many technologists the importance of meaning has been lost entirely. I’d rather have 37 years of a few people who are highly conscious of my existence wishing me well over the consciousness of an army of bots representing people’s best intentions sending me wishes for the next 1,000 years.
Today's Contents:
Good Reads: Sensible Investing
Song of the Week: Elephant Gun
Good Reads: Sensible Investing
The Man Who Moves Markets. Carson Block uses covert techniques to uncover fraud for profit. Now he’s under investigation himself. Is he the hero of Wall Street, or the villain?
This was a balanced take on the dynamics and key players of short-selling the past few years.
Adani Group: How The World’s 3rd Richest Man Is Pulling The Largest Con In Corporate History. The short seller report from Hindenburg Research.
This is an interesting, evolving story as it shows the global links between research in the U.S., the Indian government and infrastructure development, and capital markets. I invested in at least five EdTech companies in India from 2013-2015 when I was at Pearson, and people used to joke that in India everyone has three sets of accounting records: One for your investors. One for the government. One for yourself to manage the business.
It’s not unique to most emerging markets that are dominated by family-controlled businesses with tight links to the government. This report should remind people of the risks associated with opaque businesses.
The Tweet Thread Most of the Venture Ecosystem is Talking About. The All-In Podcast episode had a good discussion about it this week. Recommend checking it out.
Relatedly, my pet issue of the week is the continued pitching of SAFEs for companies or businesses that are not building technology and/or don’t have plans to raise a priced round in 18-24 months.
Nathan Schneider’s Writing. Not investing but an interesting trove of writing on governance, decentralization, and cooperatives. H/T to Adam Delehanty.
Song of the Week: Elephant Gun
Here on YouTube.
Beirut was one of the few Indie bands that played at the Duke Coffeehouse when I was in college that was actually good. The use of the brass instruments and Zach Condon’s voice were distinctive.
I’ve been enjoying re-listening this week.
“Elephant Gun” by Beirut
If I was young, I'd flee this town
I'd burn my dreams underground
As did I, we drink to die, we drink tonight
Far from home, elephant guns
Let's take them down one by one
We'll lay it down, it's not been found, it's not around
Selfie of the Week
I didn’t take any selfies this week. It’s a good reminder for next week, though!
Thanks for reading, friends. Please always be in touch.
As always,
Katelyn