Marcelo Fujimoto

Great post. One thing I think becomes critical in a world of agents is a whole class of process & execution data. Things like “email sent,” “waiting on response,” "1 day to deadline, still no response", exceptions, escalations, approvals. In the real world/in most places, this data is all tribal / isn't recorded anywhere, yet it's required to safely deploy agents. ERPs and CRMs are systems of record for objects, but not really systems of record for work. It's impractical for ppl to record all this data. This is especially true in industries where value is created through manual coordination and exception handling rather than clean transactions (which are fertile ground for agents).

@andrewdsouza @boardyai Boardy

I want to help 100 founders raise their rounds before the end of the year. We just unlocked a version of @boardyai that we didn’t think was possible. Boardy raised his own $8M seed round earlier this year. Since then, he's introduced thousands of founders to investors who have raised millions. We’ve been testing an overpowered version internally, and the results have been wild - founders are meeting stronger investors and closing rounds in weeks instead of months. He’s not ready for public release yet (the token costs are insane), but it’s time to start introducing him to the world. I’m personally working with 100 founders who are actively raising to help them close before the end of the year. You’ll work directly with me and the Boardy team and get early access before this version rolls out next year. Comment “Boardy” below, and I’ll message you the link to apply. If you know someone who’s raising, tag them below.

@aidancramer Would love to get

I hate myself for becoming a Linkedin shitposter, but if you follow the formula it can really move the needle. Comment on this tweet and I'll DM you the LinkedIn meta game (I've got nothing to sell)

@JeanneClst Hi Jeanne, I'm the founder of a former Kima portco (Mandaê, which we exited in sale to Nuvemshop). Raising for a new startup now and wanted to know best way to send over mtl's (my contact used to be Vincent Jacobs). Would love to go on this journey with Kima again!

@dunkhippo33 Tks!!!

@celocelo1 all over the board :) but the vast majority < $10m post and of those, mostly under $6m post. to be clear these are companies with little to no revenue. geography, idea, and how notable the founder is matters a lot though.

Something is happening in pre-seed / seed that I think needs to be amplified more. The gap between pre-seed and seed is getting large. More >>

For my English-speaking friends in São Paulo, my friend and comedian @TheJackieJoyBr is producing a stand-up comedy show. Don't miss it! Get your tix here: clubedoingresso.com/evento/noitede…

@bernardofusato Vdd. “I've learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.”

@FedexSTi @Giuliano_Mana I was the cofounder / CEO until we sold to Nuvemshop. If MELI hadn’t existed we would’ve taken over the world 😛

@celocelo1 @Giuliano_Mana Yes Mandae! Remember it well. I sat in front of the team doing that deal back in the day. But yes. They really defied gravity with the logistics investments. Incredible how they pulled it off!

Can a company be capital intensive yet asset light at the same time? Capital intensity generally refers to CapEx, but could it refer to R&D?

@FedexSTi @Giuliano_Mana It’s semantics 😛 - I agree with your points on $MELI, and probably have an even greater appreciation of what they’ve done due to my time at Mandaê (of which MELI was an investor btw). They’re an amazing company with world-class execution

Indeed. In Latam nobody does it better than $MELI. Not even DHL. I saw it first hand the evolution end to end. But the secret sauce is not the assets but the tech stack that integrated this together. Specifically the Warehouse Management Systems and the Transportation Management systems which is all proprietary. They also cracked the code on invoicing and putting items of different merchants in a single box (huge complexity in Br). But what this has done is that as DCs get filled up, and they have more line hauls, middle mile, and last mile carriers, they bring down cost per parcel, delivery times, and optimization begins. A big part of the operating leverage over the last 4-5 quarters is this dynamic. The other part of the story is Mercado Credito which mints money. Mercado Envíos went from being an Achilles heel to a moat, and will enable $MELI to reach escape velocity vs. Amazon in Brazil and Mexico in no more than 4-5 quarters if execution continues. The rest of the Brazilian players are toast.

@FedexSTi @Giuliano_Mana What I meant is that the logistics operations itself is a perishable good - the empty space in a truck or van, or the excess capacity of a cross-docking operation during a shift - once it’s gone, you’ll never get it back - but you pay for all of it.

@celocelo1 @Giuliano_Mana Perishable goods is still a low % of GMV and requieres an entirely different logistics. Unit economics way more challenging but they may want to invest just to drive more frequency and size of basket.

@rosaiani @MandaeBR #BlastFromThePast !!!

1900 e mockup de USB. @MandaeBR

@FedexSTi @Giuliano_Mana That said, few do it better than $MELI

@FedexSTi @Giuliano_Mana In all fairness, many parcel logistics cos these days are relatively asset-light. Challenge is that each route, x-docking shift, etc are perishable goods - unutilized excess capacity is gone forever. Low capex but pseudo-variable costs w/ lots of operating leverage risk

@abreunotes Great overview. Tks for sharing.

6) Culturally is so different. Attended in person 17 meetings and not a single one ran even a minute late. Scheduled time was strictly adhered to, and discussions were direct and to the point. Their culture is vastly different from the Latin American way

I talked with +17 international funds in 10 days about LatAm Tech Ecosystem. Here are the main takeaways:

@drgurner Loved this program when I was a kid! Awesome memories of my dad taking me to Pizza Hut to get my pizzas.

Remember "Book it" & Pizza Hut? Used to love those personal pan pizzas for reading. We need that again.

@ankurnagpal Great thread! I'd also add: due to exclusivity clauses, seller has most leverage before the term sheet is signed and loses most of it afterwards. So try to get everything important to you into any TS prior to signing.

Thoughts on selling your startup 👇

One of the links here "How to Calculate ROIC and Handle Common Issues - by Michael J. Mauboussin & Dan Callahan (2022 update)" is really fantastic. substack.com/redirect/680f4…

@mariogabriele You’re doing phenomenal work Mario. “To avoid criticism say nothing, do nothing, be nothing.” - Elbert Hubbard

The hardest part of building The Generalist is the sheer volume of feedback. It scales as the publication scales, but your ability to ingest it doesn't. Every piece someone loves it, hates it, agrees, disagrees, is kind, is rude, and so on.

@H_Grove @MichaelBuble This is so cool. Congrats!

My hero, @MichaelBuble, gave me the most incredible moment of my life thus far. He’s been my hero for 20 years and yet continues to be more amazing every day. I’m beyond humbled and honored. God bless you, Mike. ❤️