Superfluid is a newsletter focusing on the intersection of technology and business strategy, emphasizing startup growth, investment insights, and the evolving dynamics of venture capital. It covers strategic decision-making related to pivoting, fundraising, managing cap tables, developing defensible products, understanding market dynamics, balancing growth with profitability, the intricacies of clinical trials, the impact of NFT policies, and advances in gene therapy and Foundation Model startups.

Startup Growth and Strategy Venture Capital and Funding Market Dynamics and Product Development Profitability and Financial Management Technological Advancements in Business NFT Market Policies Gene Therapy and Biotech Innovations

The hottest Substack posts of Superfluid

And their main takeaways
106 implied HN points 20 Feb 24
  1. Rampersand is backing Hatch, a company changing how the next generation finds work. Hatch uses AI to match candidates with jobs based on core values and aspirations.
  2. Hatch redefines job searching with its AI-driven platform for Gen Z professionals, saving time for both job seekers and employers.
  3. Gen Z professionals seek fulfilling roles, leading to a transformation in company cultures and employment nature. Companies like Hatch are adapting to meet the demands of this new workforce.
13 implied HN points 06 Mar 24
  1. In the startup world, founders must balance irrationality and rationality for success. It's about believing in big ideas but also making data-driven decisions.
  2. As a startup evolves, founders need to shift from irrationality to rationality, showing a clear path to profitability.
  3. Recognizing when to embrace irrationality and when to be rational is key for successful founders. It's a valuable skill that can build trust and credibility.
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79 implied HN points 29 Mar 23
  1. Moats are evolving rapidly in the business world, fueled by technological advancements like GPT-4.
  2. Founders need to articulate their product's defensibility to VCs and focus on long-term moat building strategies.
  3. VCs may need to be more selective in their investments, considering competition, data as a moat, and the importance of long-term product vision.
39 implied HN points 02 Aug 23
  1. Changing consumer behavior is hard for startups, and it takes more than just a good product to do it.
  2. Before building a product, understand the market deeply, including the barriers to change and existing strategies.
  3. To succeed, focus on what you're really selling, craft a smart GTM strategy, and work progressively to change the market.
39 implied HN points 28 Jun 23
  1. In the past, startups received large amounts of capital at early stages like Pre-Seed, which led to a funding freeze at Series B stage.
  2. Decrease in later-stage technology funding and changing market dynamics have implications for the entire startup ecosystem.
  3. Founders are facing pressure to survive with short runways, need to focus on revenue generation, cost control, and strategic decision making.
39 implied HN points 01 Mar 23
  1. In the world of venture capital, patience is key for both founders and investors.
  2. Technological revolutions take around 50 years to fully proliferate through society.
  3. Investors should be cautious about backing startups in trendy spaces and focus on patient and sensible deployments of capital.
13 implied HN points 15 Mar 23
  1. Gene therapy has the potential to treat and cure genetic diseases, but it is a complex process requiring expertise in biology and manufacturing.
  2. The gene therapy value chain involves steps like target identification, payload design, delivery vehicle design, translation development, manufacturing, and clinical trials.
  3. Companies are working on breakthroughs in gene therapy technology, such as improving AAV vectors and refining CRISPR-Cas9 systems, but face challenges in experimental processes and data availability.
13 implied HN points 08 Feb 23
  1. OpenSea's move to enforce creator royalties sparked a battle with competitors like Blur in the NFT market.
  2. Centralization concerns arose as marketplaces shifted policies to maintain profit, leading to anti-competitive behaviors.
  3. Enforcing royalties on-chain and adopting NFT standards could balance decentralization with commercial competition in the NFT ecosystem.
2 HN points 12 Jul 23
  1. Foundation Models are like the shovels in a gold rush, essential but overlooked.
  2. Investing in a Foundation Model startup can be a high-risk, high-reward venture due to the need for huge resources like data and GPUs.
  3. Financially, investing in a Foundation Model startup might not make sense for smaller funds, but for larger ones, maintaining ownership and predicting outcomes are crucial.
2 HN points 14 Jun 23
  1. The current venture capital model is flawed with oversupply of capital leading to inflated early-stage valuations.
  2. There is a need for a rethinking of venture capital funding model to balance fund size, number of investments, and ownership stake.
  3. Smaller seed rounds focused on hitting milestones may be more rewarding than accepting large cheques with high valuations.