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Michael Dempsey
25,593 Twitter followers
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Dreaming about the future, romanticizing the past | MP @compoundvc investing in former science projects & crypto with a thesis-driven approach at seed
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Michael Dempsey
03-16
fwiw the tweet below almost perfectly coincided with the top of the 2021 tech bubble. feel similarly today with amount of vc existentialism/complaining around price, what to do, etc. can pile up a few other things like chamath running a software company, pmarca saying introspection is useless, obviously AI-written essays with useless preambles taking off, levandowski coming back, etc. excited about the next few years but should just dump the spacex shares at $1.7T and get this over with.
Michael Dempsey
@mhdempsey
07-02
Tbh I’m so tired of VCs complaining about seed valuations on twitter. Some real suggestions: - Educate founders why it can be bad - Win a deal w/o pricing highest - Slow investment pace (if a bubble) - Own less & pray for larger exits What IMO won’t work long-term: - Go earlier
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Michael Dempsey
02-26
It's a bit alarmist/conspiracy theorist but the amount of volatility and aggressive moves that historically lowish vol assets have experienced over the past 6-12 months would suggest the confluence of leverage + new behaviors from scaled players is some material driver. Some of this is macro (many pulling out of US treasuries) and perhaps some sector specific (software nuking on headlines, which again, if you can spot momentum you could exacerbate to arb) but the fact that this comes as frontier model performance inflects *and* many of the firms have scaled up their LLM teams over past 24 months...it just feels highly unlikely there isn't some correlation here, especially because to my understanding, so much of the strategy comes down to specific asset/market selection to point the systems at, and that asset selection alpha typically erodes after some <1.5 year timeline at these firms as people move between firms (Jane St. noticeably being the firm that has lowest attrition). twitter.com/mhdempsey/status/2...
ARB
0.87%
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