chase
345 posts
chase
@ChaseLittle
Head of Credit @Mercury
Boulder, CO Katılım Aralık 2010
218 Takip Edilen199 Takipçiler
10 commandments of excellent communication:
1. think complex, speak simple
2. lead with your point (answer directly)
3. structure your thoughts (3 bullets)
4. speak confidently (avoid uptalk)
5. never ramble
6. cut all filler words ("umm")
7. guidepost
8. avoid weak words ("just")
9. check for understanding
10. take responsibility (if they dont understand, its my fault)
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I'm very excited that we now have results from an almost two-year randomized controlled trial that we ran across thousands of businesses on Stripe: those that accepted a loan from @Stripe Capital grew annual revenue around 27% faster.
(Two years isn't that long in the scheme of things, but it is when you're waiting for the results of an experiment you're interested in.)
We had two kinds of controls: businesses to whom we offered loans but didn't accept them, and a holdout group of businesses to whom we randomly did not offer loans but which were otherwise identical to those to which we did. As such, we feel confident in the causal nature of this conclusion.
While this might not sound like news ("capital increases growth"), I think the finding is a good reminder that many businesses are still quite capital-starved (this effect is on top of all of the other sources of capital that businesses have access to), and it is consistent with what we hear directly from businesses in surveys. Beyond Stripe, inefficient capital allocation at economy-wide scale is likely a major bottleneck to growth around the world.
We have an ambitious roadmap planned and we're very much looking forward to expanding worldwide access to growth capital.
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Raleigh hit his 60th on the night the Mariners clinched the AL West. He and Judge are deserving of MVP but very tough to argue against Raleigh now
Jon Heyman@JonHeyman
Raleigh is up to 59 HRs, Judge up to 51. Fantastic MVP duel!
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*Mercury’s Venture Debt and Working Capital loans are originated by Mercury Lending, LLC (NMLS: 2606284) and serviced by Mercury Servicing, LLC (NMLS: 2606285). Mercury Lending and Mercury Servicing are wholly-owned, separately managed subsidiaries of Mercury Technologies, Inc. At this time, we are unable to offer working capital loans to businesses operating in California.
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Cash flow is the heartbeat of any ecommerce business.
At Mercury, I get to work on products that help founders stay ahead — from accessible credit cards to working capital designed for the way ecommerce actually runs.
This video shares a look at how we’re building financial products that move at the same pace as the businesses we serve.
Mercury@mercury
You’re ready to scale for the holidays. But your cash flow says: “Not yet.” 💸 We’re here to help with Mercury Working Capital ⤵️
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Such a fun film genre gets one of the best directors - can’t wait to see this
DiscussingFilm@DiscussingFilm
Denis Villeneuve is set to direct the next James Bond film.
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@willy_mitch Top Gun 3 confirmed - maybe he flies into an asteroid to save the planet
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@ChaseLittle I just hope there's a Tomcat still out there, flying happily ever after
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This is not easy work, but such an incredibly important message for leaders and managers out there.
Garry Tan@garrytan
When I was younger I didn't think I could be a leader, though I felt drawn to and envious to those who were exactly that. That was in my shadow, which I had to consciously bring out to real life before I too could become the leader I wanted to be. youtube.com/watch?v=ftJ9cy…
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Search @WHOOP on this app. The amount of backlash over its new device upgrade fee of $49 is an interesting case study in price sensitivity.
The company has historically provided free device upgrades as part of a paid subscription for health data- a brilliant GTM strategy against Apple and Garmin.
Plenty of product comparisons have shown their data to be less reliable than competitors recently, but the change in pricing model is what upsets loyal customers, despite the quality improvements promised.
Disclaimer: I am a customer of over 5 years and also have Apple and Garmin devices. Was considering dropping Whoop before the new device announcement finding it less valuable for me over time and still unsure if I’ll renew.
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@TheDanJimenez @chatbooks Congrats on 10 years Dan! Such a great company and team.
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10 years ago today, Nate Quigley and I walked down the Provo River trail to grab a bite at Bajio’s (GOATed Mexican fast casual btw) to talk about his startup, @chatbooks
The next day I was at the office with my personal laptop helping close the Seed II round. Two weeks later I returned my signing bonus to Accenture and cancelled the moving truck that was set to take my family out to the Bay Area. And now 10 years later, we’ve scaled from that first million into the high 8 figures, grown from 10 to 150 team members, and helped strengthen and connect millions of families globally. It truly has been a once-in-a-lifetime experience to build something meaningful with so many people I admire and respect.
Without putting too much thought into it, here are 10 things I’ve learned these last 10 years. In no particular order...
1. Working with experienced, smart people is great. But working with people who match your level of obsession is amazing.
2. That idea for improving the business that’s been eating away at you for years — just do it. No one has thought about this problem as long as you, so don’t discount your instincts.
3. Focus on the fewest efforts of highest leverage. The smaller stuff, if it really matters, will find a way to still get done.
4. Loose Reigns. Controlled Chaos. Strong opinions loosely held.
5. Action over Accuracy. Cycle time above all else. If you try something today, you’ll at least have data tomorrow.
6. In startups, Market is a 1st order input, and Execution is 2nd order.
7. Product over Distribution in the early stages, but Distribution over Product in the late stages.
8. Operate uncomfortably transparent with the team.
9. Careers are long and networks are small. Treat everyone with abundant fairness.
10. And finally, as much as you may try to do all these things, you’re going to screw stuff up on a regular basis. Self-deprecate by default and point out your shortcomings and mistakes before others need to.
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Southwest is ditching "bags fly free”
Unbundling bags lets airlines skip the 7.5% federal excise tax on air tickets for the baggage portion, so it makes sense to unbundle.
First open seating went, then economy-plus and basic economy arrived. SWA is becoming just another ✈️
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SELL TO FAST GROWING COMPANIES
One thing that many startups (or larger cos) don't pay attention to is the growth rate of their customers.
There are two awesome benefits to selling to fast growing companies:
1. Rapid sales cycles: A big advantage of targeting fast growing customers is that your sales cycle will be really fast. As long as you offer a solution that meets their pain point, they won't have time to haggle too much - they will want to implement the solution as quickly as possible.
2. High Net Revenue Retention: NRR is arguably the top metric to gauge the health of a business. There are many tactics that companies use to grow their NRR, including usage-based pricing, new products, setting up customer success teams, etc. But the simplest way to increase your NRR is to target customers whose business is growing.
The company that best epitomizes this is Stripe. Their product is awesome but one of the smartest things they did early on was target young, exceptionally fast growing companies like Shopify and DoorDash. They just grew along with their customers.
So -- qualify your targets by THEIR growth rate, and prioritize the fastest growing among them. You'll reap massive rewards.
Addendum: don't let your fast growing customers outgrow you. That's one of the worst sin you can commit. They will dump you if your product and scale cannot keep up. Do whatever it takes to retain them, otherwise your virtuous cycle will become a vicious cycle if they churn.
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Atop eagle’s nest in honor of the eagles protecting TB12 GOAT status
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