I Almost Died Wearing This Shirt (Insta Story)
A few years back I almost died wearing this shirt…
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Think
One Degree of Change
“She wants you to take her out.”
“Come visit me for a weekend at school.”
“Let’s go check out Exhibit Hall A.”
“But have you thought about…?”
At first glance, these statements seem small and insignificant. But every one of them changed my life in ways I could never have imagined.
Life has a way of turning the tiniest moments into the most consequential outcomes. I was reminded of this over the weekend while skiing on the hill. I watched my fellow ski patrollers respond to a code on the side of the mountain, helping someone who had made just one wrong turn. A single degree off course was all it took to change their day—or even their life—forever.
The same holds true in our everyday interactions. The impact of those small moments may not reveal itself immediately—it could take days, weeks, or even years—but they carry the potential to alter the trajectory of our lives in profound ways.
One degree.
A friend of mine, Wiley, reminded me of this recently. It only takes one degree—a single small decision, action, or moment—to change someone’s life or even your own.
Think about the ripple effect of a simple “hello” to a stranger who may have lost hope.
Or the unexpected phone call to a friend you haven’t spoken to in years.
Or the question someone poses to you—or you pose to yourself—that unlocks a new path forward.
As we step into the new year, many of us will make resolutions and promises to ourselves and others. If you’re one of those people, remember this:
It doesn’t take a monumental shift to make a difference. Sometimes, the smallest adjustments can have the biggest impact.
You might not see the effects right away, but believe me, one degree can set you on a course toward a future you never dreamed possible.
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Joining Michael Karnjanaprakorn On His Podcast
I recently had a chance to catch up with my friend Michael Karnjanaprakorn. We’ve known each other for at least a decade or so now from the early days of the New York Tech ecosystem. This was a fun one.
Full video below and here.
And, some highlights that Mike pulled out from our conversation.
Dan Reich: “Business is a video game.”
I asked Dan Reich who has sold four companies to Salesforce, Buddy Media, and Procter & Gamble:
“Why are you still building companies instead of retiring and riding off into the sunset?”
He shared a conversation with a fellow serial entrepreneur:
CEO: “Do you still play video games?
Dan: “Yeah, I do still play video games.”
CEO: “So do I. But this business is a video game, and it’s a game that other people gave me money to play. If I win, not only will I make them money, I’ll make money too. And I love the video game.”
Dan reflects on this analogy:
Dan: “He was right. The journey is the prize. I tell everyone I have a career conversation with: People who optimize for money are not happy, and people who optimize for happiness end up finding money.”
In this episode, Dan dives into:
• His transition from 4x founder to building a venture studio.
• His playbook for building companies.
• His advice for navigating a post-exit journey.
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Joe Grand hacked time to recover $3 million from a Bitcoin software wallet
In 2022, I embarked on a crazy journey to unlock a Trezor hard wallet holding over two million dollars worth of cryptocurrency. It felt like a wild goose chase, each step filled with tension, anticipation, and ridiculous commentary in my group chats. As we got closer to cracking the wallet, we realized that there were many others out there facing similar predicaments, desperately needing help to recover their lost digital fortunes.
When Joe Grand finally succeeded in freeing my coins, it was a moment of immense relief and high-fiving. But more importantly, it sparked an idea. We saw an opportunity to assist others who found themselves locked out of their cryptocurrency treasures.
Thus, OffSpec.io was born—a company dedicated to helping people recover passwords, private keys, and other crucial cryptocurrency data from hardware and software wallets. Our mission is to provide a lifeline for those navigating the complex and often unforgiving world of digital assets, ensuring that no one has to endure the anxiety and uncertainty that I experienced.
And just this week, Joe did it again, this time with some help, and a very different problem and approach.
The video and story are here. Also posted below.
And if you or anyone you know are in need of some help recovering crypto currency, please drop us a line.
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A Visit To The SCOTUS
Yesterday, I had the privilege to visit the Supreme Court of The United States as a guest of Chief Justice John Roberts. He’s the 17th Chief Justice of the United States and will likely, and hopefully be, the Chief Justice for the majority of my lifetime.
We had an opportunity to spend time with him in his chambers before and after the oral arguments. The two items on the docket were:
The oral arguments were undoubtedly interesting, dense in legalese and constitutional law, and dramatic in that you are sitting in the highest court in the land listening to arguments that could change history.
But the thing that left the biggest impression on me is this: it was a reminder that most people who serve our country deeply care about their work and their country.
Of course, some of our elected officials are misguided, but that’s what makes America, America. We get to support candidates we like and vote them into office.
America is not perfect. And if you spend any time on social media listening to pro-Hamas crowds screaming “death to America” you’d realize how imperfect we are.
We still have a lot of work to do, but there are indeed still great people trying to do the best they can. And these people put the country first and still fight, day in and day out, for our republic.
Thank you John, Jack and Sam for a great day.
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Supporting Feature Documentary “Primal Fear”
Story telling..
Facts and testimony..
These are powerful and mission critical to fighting any info war. And clearly, we are in one.
I remember when Steven Spielberg document testimony from my grandparents and their stories from the Holocaust, and so thankful he did.
We need more of it..
That’s what I’m excited to support Wendy Sachs and Debra Messing and the rest of their team in producing a piece that will detail and document this antisemitic disease that’s beginning to rot away our society.
In any society, antisemitism is the canary in the coal mine for a deep, uglier reality. It needs to be exposed because light is the best antidote for darkness.
Interviews will include some of the most active and vocal voices like Noa Tishby, Kirsten Gillibrand, Michael Rapaport, Dan Senor, Einat Wilf, Hillel Neuer, Sheryl Sandberg and more
There’s lots more to do but this is just another initiative of many that’s needed.
Thanks Wendy!
More about the documentary here.
EXCLUSIVE: Actress, producer, and activist, Debra Messing, has signed on to executive produce the feature documentary, Primal Fear about the explosion of antisemitism on college campuses, on social media, and in the streets since October 7, 2023, when Hamas attacked Israel. Wendy Sachs, the co-director and producer of SURGE, is directing the film and will also serve as an executive producer.
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A Post-Exit Podcast
There’s a ton of myths out there about folks who’ve started and then sold their companies, especially when it comes to what they end up doing next.
In the same vein, a lot of entrepreneurs who’ve poured their heart and soul into one big project for years suddenly find themselves lost or confused once it’s all over, wondering, “What now?”
We spoke about this and more on the “Exit Paradox” podcast.
Video here and below.
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The Startup Nation and Track Records of Truth
I recently listened to Lex Friedman’s interview with Jeff Bezos. If you want to hear someone speak with incredible clarity and wisdom, listen to Jeff. There’s a reason he is the second richest person in the world.
But there was one topic that resonated with me more than anything.
Truth.
It seems like the world doesn’t care much about it these days. Just skim through social media and you’ll know what I’m talking about.
However, Jeff reminds us that “truth” is arguably the single most important factor that leads to success and prosperity.
“Yes, challenging. They [truths] can make people defensive even if that’s not the intent. But any high performing organization, whether it’s a sports team, a business, a political organization, an activist group, I don’t care what it is, any high performing organization has to have mechanisms and a culture that supports truth-telling.” – 1:29:14
The evidence is irrefutable. As of this writing, Amazon has about a 1.6 trillion dollar market cap making it the fifth richest company in the world.
If you look at the world’s most successful companies, they all have this trait.
They consistently engage in the pursuit of truth, employing critical thinking, problem-solving, and scientific methodologies in their approach.
“And so science is all about truth-telling. It’s actually a very formal mechanism for trying to tell the truth. And even in science, you find that it’s hard to tell the truth. Even you’re supposed to have a hypothesis and test it and find data and reject the hypothesis and so on, it’s not easy.” – Jeff Bezos, 1:30:10
Elon Musk also famously refers to “truths” and first principles:
“Boil things down to the most fundamental truths and say, ‘OK, what are we sure is true, or as sure as possible is true? ‘ And then reason up from there.” – Behind Elon Musk’s Management Philosophy: First Principles, Wall Street Journal
As of this writing, Elon Musk is the number one richest person in the world, with companies that launch rockets into space (SpaceX), produce self-driving cars (Tesla), and let humans transmit information electronically with just their brains (Neuralink). You only do that with capable leadership and truth-seeking.
There is another place where this truth-seeking discipline has taken shape over the past few decades leading to some incredible human achievements and prosperity, including, but not limited to the development of things like:
The list goes on.
This country also ranks #7 in the world for creating the most unicorns, has more than 100 companies listed on US exchanges, with a combined market cap of more than $150 billion, and has the fourth most companies listed on the Nasdaq after the United States, Canada, and China.
There is a reason Israel is called the Startup Nation.
And if that wasn’t enough, Israelis have among the world’s highest life expectancies and lower rates of “deaths of despair” from suicide and substance abuse. It’s also one of the few populations that are young and growing while all other wealthy democracies are aging and shrinking. According to a recent UN report, it is also the fourth happiest nation in the world behind Finland, Denmark, and Iceland.
These achievements would not have been possible without dedicated hard work and a relentless quest for truth.
But, truth is hard.
“You have just asked a million-dollar question. So if I generalize what you’re asking, you are talking in general about truth-telling and we humans are not really truth-seeking animals. We are social animals.” – Jeff Bezos, 01:28:21
This brings us to today.
War.
There is a hot war in the Middle East and an information war online.
Both sides understand the importance of truth or lack thereof.
Iran and their proxies, like Hamas, understand that “we are social animals” and so the more death, destruction, and oppression they can inflict on their people (look what Israel did to us!), the more sympathy they can create for their cause.
It’s why they use human shields. It’s why they hide bombs in children’s classrooms. It’s why they build terror tunnels under children’s bedrooms. It’s why they steal humanitarian aid. It’s why they use hospitals as terror bases. It’s why they scream “apartheid”. It’s why they bankrupt their community but make their leaders rich (with our taxpayer dollars).
It’s why they lie over and over again.
In short, they can prevent “truth-seeking animals” by pulling on the strings of our most animalistic tendencies and emotions, using social media megaphones we all have in our pockets. Who wouldn’t get upset when they see the photos coming out of Gaza? I know I do. It’s horrible and tragic. But that’s the point. They recognize that “truth-telling” for most people is hard, and so they prey on the ignorance and lazy thinking that many people have.
But ultimately, truth will prevail.
And the truth is this:
One side wants dead Jews.
The other side does not want to die.
And if you don’t believe this, then just look at the track records of truth.
Or just take their word for it.
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The Treadmill of Life
The first CEO I worked for (Andy Monfried) survived a suicide bombing in Tel Aviv. When he got home he quit his company doing door-to-door paper sales to join two brothers on their startup. That company was acquired and years later Andy launched his own.
The second CEO I worked for (Michael Lazerow) was 19 years old when his heart valve stopped working. His blood pressure dropped to zero and had 3 hours to live. He did indeed survive and later that year started his first company. It would be the first of many. Most of those companies were acquired.
The Uber driver I had this morning told me a story… “I used to work as a sales rep hitting quota. I was always working for the next president’s club, over and over again, stuck on the hamster wheel.” He then told me about how he survived 9/11 and how all he wanted to do was get home to see his one-year-old son who was beginning to walk. He made it home that day. And the day after that? He quit his job and became a pasture.
Many of us coast through life stuck on a treadmill we never realized we got on in the first place. The conveyor belt of life loops around again and again, year after year, and we don’t jump off in search of better use and meaning with our time.
We hear about people who completely change their lives after being faced with a life-or-death situation. We hear and read about how they’ve found new meaning and a new calling. Or as Andy put it, how they are “playing on house money.” Yet most of us still carry on like zombies…
Most of us should be so thankful that we haven’t had to live through such a dire moment, but most of also us need a wake-up call to make the most out of this game called life.
If we look around we can find moments and stories like these that can act as a mirror and help us ask the hard question…
“What am I doing with my life?”
My Uber ride this morning was a good reminder of that. We’re all playing on house money and once you internalize this idea it’s a little bit easier to jump off the treadmill.
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B2B SaaS vs CPG: A Comparative Analysis
After recently building companies in both the B2B SaaS and CPG sectors, a common question I encounter is, “Which one do you prefer?” Both have their merits, but here are the key distinctions that have stood out to me over the past year or so:
1. Acquisition Path: Build or Buy?
When it comes to Mergers and Acquisitions (M&A), a recurrent question to potential acquires is whether to construct a new product or feature in-house or to acquire a company that already offers it. Here’s how this unfolds:
- Technology & B2B SaaS: Major tech companies often possess the means and innovation drive to build new products and services in-house. An M&A prospect prompts teams internally to perform a ‘build vs. buy’ analysis, weighing the benefits and drawbacks of internal development against those of acquisition. This creates more internal debate and friction, which can impede the ability to get a deal done.
- Consumer & CPG: Conversely, in the consumer space, most strategic acquirers rarely construct new brands from scratch. The challenge of distinguishing a new brand in a crowded market and the associated capital expenditure makes it a daunting endeavor, compared to allocating more capital to winning brands with existing distribution. Consequently, consumer companies have a more predictable acquisition trajectory than their tech counterparts.
2. Business Model Dynamics
- CPG Companies: The business model for consumer goods is remarkably linear: design a product, package it, and sell it. Although challenges arise in marketing and pricing, the general model and contours for the business remain consistent across the board.
- B2B SaaS: The business model here is multifaceted, and can often feel like a game of four-dimensional chess. I know it has for me. Founders must consider product-market fit, define target customer profiles, understand pricing dynamics, deal with platform risk, and stay on top of an ever-shifting competitive environment. This landscape is populated by well-established players, emerging and well-funded startups, and copycats, all vying for market dominance. Yes, all of these things are true in the CPG world, but I think they are much messier and elevated in the software world especially since you can, and have to, iterate on the products every day.
3. Profitability Profile: Understanding the Costs
- Consumer World: The financial framework for physical products has established rules that are easily comprehensible.
- Technology World: At Salesforce years ago, I would hear people talk about the beauty of SaaS because it is an annuity business. You build the software, sell it, and your gross margins are high because your marginal cost to build the product again is zero. You’re just provisioning a new account. However, what sometimes gets lost here is that software companies have to keep innovating and investing in R&D to stay ahead, which can mean more people and more expense. Not to mention adding customer success people to ensure the customers are happy and using the software correctly and successfully. Add to the fact that the most talented engineers are expensive, in terms of cash and stock-based compensation, and you quickly realize that your COGs for software development may get out of hand very quickly in order just to compete and stay ahead. We saw this happen this past few years which resulted in mass layoffs from larger tech companies.
4. Brand Awareness: Social Media’s Role
- CPG Companies: The world of social media has no shortage of discussions about beloved brands and products. This kind of visibility can boost brand awareness, making it exhilarating for those involved when their products become household names.
- B2B SaaS: In contrast, enterprise software seldom garners the same kind of public enthusiasm. People rarely give the same amount of love to a workplace tool or solution in the same way they’d rave about their new favorite snack, shoe, beauty product, or piece of clothing. This translates to a subtler brand awareness for B2B companies.
In summary, we’re really comparing apples and oranges here and one is not better than the other, however, these are just some of the categories that have been most top of mind for me the past year or so when asked about the differences of running a CPG companies vs a B2B Software company.
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