📶 things that made me stop the scroll

The best things I found on X this week, digging your moat through typing a sequence of keys, and the importance of sales rep math

March 28, 2025 • Estimated Reading Time: 4 minutes

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Good morning 👋

And happy Friday to those who celebrate.

Slow news day, so I’m taking a play out of Shaan Puri’s playbook and sharing the best tweets that made me stop the scroll and think this week.

Here goes:

TOP
#1

When 2 founders are 50/50, it's wild to me when VCs invest in the company without meeting the CTO-cf. This person represents half the cap table youre buying, half the work, and half the risk.
(Adding to my list of odd things I observe during my transition from founder to VC)
— Liz Wessel (@lizwessel)
4:25 PM • Mar 26, 2025

“Diligence” is a subjective term.

If anybody wants to create a list of weird diligence practices, we’ll be the first to feature it.

#2

Most capital markets theory is on the premise that markets are efficient
Most VC dogma (“plow into your winners”) is on the premise that markets are inefficient
The best returns come from inefficient markets, so need to ask “what access/information do I have that others don’t?”
— Rick Zullo (@Rick_Zullo)
12:03 PM • Mar 26, 2025

The less efficient the market = the more money to be made.

I wish somebody would have taught me this earlier in life.

#3

Tech changes first
Products change second
People change third
(good mental model heard over the years)
— Matt Turck (@mattturck)
12:27 AM • Mar 26, 2025

Countless examples of this throughout history.

If you want to get ahead as a business owner, find people that have mastered the products in the second step, give them autonomy to build, and watch your business start to grow.

#4

The role of VC analysts & associates has permanently changed
Access > Analysis
AI can now handle majority of market research & memo writing
The next generation will primarily win by bringing elite founder & talent networks to the firm
— Jonathan Lacoste (@lacostejonathan)
4:44 PM • Mar 24, 2025

I’ve been saying this over and over again: the need for junior VCs is diminishing by the day.

It’s time for a lot of junior investors do a lot of soul searching to “future-proof” themselves.

#5

Things ppl told me about fundraising that weren't true:
1/ LPs don't like solo GPs -> not true, many LPs prefer solo GPs (focus, decision-making)
2/ After 1st close, it's easy -> not true, it's all hard
3/ Always use a deck for pitches -> not true, open convos were 10x better
— Robby (@amanda_robs)
12:00 PM • Mar 24, 2025

Most fundraising advice you read is AI-generated slop, but this is great.

#3 is especially true, and I’ve found open convos are WAY better vs. constantly pitching to people who don’t let their guard down.

COMMUNITY
The OS for private investors 🕹

Good venture investors need to have:

Good background knowledge and an understanding of how venture dynamics work
A source of good deal flow so that you see founders first
An elite investor network that you can share notes, deals, and other information with
Mental frameworks to understand company building, scale, and what makes a good vs. great investment
Connections to other high-quality people that become future co-workers or portfolio company employees

That’s why we built this.

2,500 other investors from places like Bessemer, Insight, Accel, and Founders Fund already use it, and we think you should too.

dig your moat by hitting an increasingly unpredictable sequence of keys
— jack (@jackbutcher)
2:06 PM • Mar 26, 2025

LINKS

👍 Getting Investor Onboarding Right: Insights from Galaxy’s Garima Grover on how to offer LPs a white-glove onboarding experience

⤵️ How Money Flows: Capital attracts growth, growth attracts capital

🤔 When to Expect Results, How Good Will You Be: Figure out if you’re good at logic, intent or outright sales

➕ The Importance of “Sales Rep Math”: A framework that will help you reverse-engineer quotas from actual rep capacity—ensuring targets are ambitious but not delusional

🛜 Six-Chart Sunday—Predictable Unpredictability: An attempt to find signal in the noise and what businesses should be doing to navigate the disruption

Thanks for reading this far and giving us a little bit of your attention this week.

Feel free to unsubscribe whenever this stops becoming valuable to you.

- Clay
(Founder @ Confluence.VC | GP @ Outlaw)

📶 things that made me stop the scroll

The best things I found on X this week, digging your moat through typing a sequence of keys, and the importance of sales rep math

TOP#1

#2

#3

#4

#5

COMMUNITYThe OS for private investors 🕹

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LINKS

TOP
#1

COMMUNITY
The OS for private investors 🕹

📶 things that made me stop the scroll

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