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Reflecting On YC, 2 Years On
Reflecting On YC, 2 Years On
Y Combinator (YC) is seen as the world's best, and most prolific, three-month accelerator program. Upwards of 7,000 founders have taken part. Yet, no…
·posthog.com·
Reflecting On YC, 2 Years On
Understanding Jane Street
Understanding Jane Street
Plus! Pensions; Customer-Facing; Use Cases; Making a Market; Reflexive Energy Politics; Diff Jobs ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌Open in browserWelcome to the weekly free edition of The Diff.
·feedly.com·
Understanding Jane Street
Is Everything Getting Old?
Is Everything Getting Old?
Plus! Parity; Work from Home; Surgery; Buffett and Energy; Splinternet Update ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌Open in browserWelcome to the weekly free edition of The Diff.
·feedly.com·
Is Everything Getting Old?
Moderna's Bets: Moonshots and Platforms
Moderna's Bets: Moonshots and Platforms
Plus! The China AI Stack; Closing the Loop; Ads and Addiction; The Second-Order Costs of Inflation; Fraud and Transaction Costs ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌Open in browserWelcome to the weekly free edition of The Diff.
·feedly.com·
Moderna's Bets: Moonshots and Platforms
I can't save you, nobody can
I can't save you, nobody can
In the two decades I've been managing people, there's never been a termination that didn't sting. Acting on the knowledge that someone isn't working out is probably the hardest task for any conscientious manager. It's only natural to meet that difficulty and that sting with regret: I could have done more. But the hard truth is often a ...
·world.hey.com·
I can't save you, nobody can
Stay with the pain, don't shut this out
Stay with the pain, don't shut this out
"Without pain, without sacrifice, we would have nothing", intones Tyler Durden in Fight Club, as his alter-ego is screaming from the chemical burn. It's a profound scene that taps into a well of philosophical thought that humans have been struggling with forever. And it's applicable to more mundane affairs too. I like to think of this ...
·world.hey.com·
Stay with the pain, don't shut this out
Priority Should Have No Plural Form
Priority Should Have No Plural Form
Lately I’ve been studying Andrew McConnell’s new book Get Out of My Head: Creating Modern Clarity With Stoic Wisdom and listening to his interview on The Atlanta Story podcast. With a n…
·davidcummings.org·
Priority Should Have No Plural Form
Braess's paradox
Braess's paradox
In 1990, the New York City Transporation Commissioner closed 42nd Street for Earth Day. Everyone expected that closing a major cross-town artery would cause historic traffic jams. Instead, traffic flow improved. One of Seoul's busiest freeways, the Cheonggyecheon Freeway, was built over the Cheonggyecheon River and ran through the heart of the city. It carried 168,000 cars per day. In an effort to restore the river, the city demolished it and built a 5-mile public park. Travel times improved, a
·matt-rickard.com·
Braess's paradox
Will v8 Isolates Coexist With Containers?
Will v8 Isolates Coexist With Containers?
Long term, will v8 Isolates become the basis of a generalized computing platform, or will containers1 (or some other type of software container)? Or will there continue to be separate infrastructure, application, and edge runtimes? The isolation technologies are complementary today – they make different trade-offs with cold starts, security boundaries, and resource profiles. You'll find v8 Isolates powering edge functions like Cloudflare Workers (but not Lambda@Edge). However, there are many pu
·matt-rickard.com·
Will v8 Isolates Coexist With Containers?
The End-to-End Principle in System Design
The End-to-End Principle in System Design
The end-to-end principle is a design pattern used in the early Internet that suggests that Specific application-level functions usually cannot, and preferably should not, be built into the lower levels of the system – the core of the network. It was formalized in a 1984 paper, End-to-End Arguments in System Design, by Saltzer, Reed, and Clark. The paper uses an example of securing a file transfer between two computers. There are many steps during the transfer where the file could get corrupted
·matt-rickard.com·
The End-to-End Principle in System Design
Sufficiently Decentralized
Sufficiently Decentralized
Most web3 applications will probably be more off-chain than on-chain. And I think that's OK. Sufficiently decentralized technologies have a reasonably low cost of participation, a reasonably low level of censorship, and a reasonably low level of trust among actors. What's reasonably low? It depends. Take a look at how the web works today. Sufficiently decentralized – it may be difficult to become a domain registrar, start an ISP, or run your own DNS infrastructure (that others use), but anyon
·matt-rickard.com·
Sufficiently Decentralized
Open-Source and Quadratic Funding
Open-Source and Quadratic Funding
Open-source developers are rarely compensated relative to the impact that their code has. So how should we fund code that might be considered a public good? Gitcoin is a platform that funds open-source development, mostly in web3. It's funded about $64m in open-source development since 2017. Fund are allocated through grants, bounties, and contests. The funding model is unique as it relies on something called Quadratic funding0. Quadratic funding is where the amount received by a project is pr
·matt-rickard.com·
Open-Source and Quadratic Funding
The New Wave Frontend Toolchain
The New Wave Frontend Toolchain
A new wave frontend toolchain is emerging, and it's extremely performance-driven. I'm talking about Deno and bun (runtimes),  esbuild, swc, and Rome (bundlers), to name a few. These tools were built as a response to the slowness and complexity of Webpack. Some traits that separate them from the pack * Written in compiled systems languages like Rust, Go, C++, or other languages like Zig that expose low-level constructs. * Maximize parallelism * Take advantage of cache locality * Edge native
·matt-rickard.com·
The New Wave Frontend Toolchain
Brooks in Reverse
Brooks in Reverse
Fred Brooks observed in Mythical Man Month that adding more programmers to a project often slowed it down. The effect works in reverse, as Paul Graham noted in a 2001 essay, The Other Road Ahead: as groups get smaller, software development gets exponentially more efficient Graham was observing the early effects of SaaS and web programming. No need for porting applications to different operating systems or physical releases (floppies, CDs, or software appliances). SaaS removed the dependency h
·matt-rickard.com·
Brooks in Reverse
Don't Be Scared of Cloud Lock-in
Don't Be Scared of Cloud Lock-in
Technology companies were right to care so much about vendor lock-in in the last two decades. In the past, developers were burned by IBM, Microsoft, and Oracle services, often with few alternatives and price gouging. But to align your strategy so vehemently against the same type of lock-in in the cloud era would be wrong. Vendor lock-in still exists (switching costs will always be one core driver of competitive advantage), but the calculation is much different. Lock-in is a trade-off between po
·matt-rickard.com·
Don't Be Scared of Cloud Lock-in
Lisp and Spreadsheets
Lisp and Spreadsheets
Functional and event-driven programming – for the masses. Or how I once wrote a Kubernetes-based CI/CD system in Excel0. Functional programming has been around forever. Lisp is the second oldest programming language1. Now that Excel is Turing Complete with the LAMBDA function, it might finally be the time that Excel and spreadsheet languages might be the trojan horse for introducing full lambda calculus to the masses. Visual Basic and Excel built-in functions are limited in their expressivenes
·matt-rickard.com·
Lisp and Spreadsheets
Adverse Selection Examples
Adverse Selection Examples
Adverse selection happens when there is information asymmetry between buyers and sellers. One side takes advantage of information that isn't known to the counterparty. It's one of the most important economic ideas to think about when starting a company or buying or selling anything. A few examples of adverse selection in technology markets: * SaaS. Complicated technology can be difficult to evaluate ahead of time. For decades, companies dealt with shelfware – enterprise software that was purc
·matt-rickard.com·
Adverse Selection Examples
YC Startup Library | Y Combinator
YC Startup Library | Y Combinator
YC's library of startup advice: essays and videos that teach you how to start a company.
·ycombinator.com·
YC Startup Library | Y Combinator
Political Chips
Political Chips
Chips are the clearest example that economic efficiencies will not be the ultimate decider of technology’s end state: politics will play an important role.
·stratechery.com·
Political Chips
The FTC versus tech M&A
The FTC versus tech M&A
The US is fundamentally rethinking its approach to regulating competition, and M&A, and tech, and big tech buying startups. The FTC’s attempt to block Meta from buying Within is a test case for all of this. So, how many interesting problems can we count?
·ben-evans.com·
The FTC versus tech M&A
Breaking Points
Breaking Points
Two weeks ago, Mitt Romney wrote an opinion piece in The Atlantic titled, “America Is in Denial”.
·collaborativefund.com·
Breaking Points