Everything Bridget Harris said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Harris: The Venture Capital Model Is Effectively a Ponzi Scheme
“Because that VC model is, if you were, if you're being a little bit mean about it, you'd call it a Ponzi scheme. Because people have to lose.”
Founders should exploit venture capitalists for upfront capital, not seek friendship
“And they're not your friends. You know, what they're doing is they're making money from your decision to go into business as an entrepreneur and make money. And that's a different thing, and you, my view would, oh sorry, my view would be, you know, exploit the…”
Harris: Benchmarking remote global pay to San Francisco rates is anti-competitive
“I think it is anti-competitive, frankly, to say to people in Romania and Morocco and South Africa, you have to compete with people working on the west coast who need to pay a whole lot of stuff in, in terms of rent the one bit of leverage you have, which is yo…”
Harris: Most AI crypto projects are copy-paste AI with a token
“Most of the AI crypto projects we had seen had been just like not really interesting. It was more like copy paste from existing AI companies, and then they would like slap a token on top. So it would be like character AI with a token, like Langchain, but with …”
Harris: SEC under new administration will stop targeting Coinbase and Uniswap
“I don't think they'll be issuing Wells notices at random to, like, Coinbase and Uniswap, because that's just dumb, but, like, they will be actually going after, like, legit scams.”
Harris: Crypto community upset over XRP and Cardano in Strategic Reserve
“I think generally people were a little bit upset because, you know, the XRP, the Cardano inclusion, just like, there's basically two plausible explanations that I think the crypto community came to for why this could be the case. One is just like simple, like …”
Engineering is now the easiest core startup function to outsource
“Now I would say, actually, nowadays it's probably easiest to buy in tech Ironically, engineering, because there's so many fantastic agencies that do it. As long as you've got a very good, strong product desire, you can basically hire people to do that for you.”
Top startup performers grow internally from modest salaries, not expensive hires
“I've never experienced the idea that by going out and paying, you know, a huge salary, I'm gonna get a 10 X person to come in. All my 10 X, if you like, people who work for me now, who are on good salaries, they all started joining the company at fairly modest…”
VCs push founders to take excess capital just to deploy their funds
“VCs try to give you too much money because they're basically trying to run down the fund. They're trying to write big checks. If they tell you they're going to give you a million, they're going to try to make you take five million because they're just basicall…”
Harris: Hire at moderate base pay and reward high performance with raises
“Reward performance with high wages, i.e. Hire somebody on a moderate, conservative salary rate. If they do really well for you, by all means double their salary if you want to. Don't do it the other way around. A six figure salary does not necessarily bring in…”
Harris: Founders Fund has paused new deals amid high crypto valuations
“The sentiment isn't amazing, but I would say prices on new deals that we've been seeing have been, like, asymmetrically high. Like, we, the last deal we did was Prime Intellect, and that was in, I want to say October or November. So we haven't done, like, a ne…”
Harris: Regulatory risk drove many Founders Fund DeFi founders out of US
“DeFi founders had it the worst. I think the past four years, like, many of our founders just fully moved out of the United States because the risk was just, like, You know, way too high.”
Harris: Bitcoin whales will widely adopt lending protocols to avoid selling
“And, like, if you can lend against your Bitcoin and make your asset more productive, like, there's going to be so many whales that, that, that want to do that. Like, they just do not want to sell.”
Harris: B2B cross-border settlement is the most compelling stablecoin use case
“I think, like, right now, the most interesting use case for stable coins is probably in, like, B to B payments, just because that's where there's the most volume. It's, like, yeah, like, literally, like, you know, billions and billions of dollars of volume per…”
Harris: YouCanBookMe was profitable at $5M ARR before acquisition
“We've got You Can Book Me running at a really nice five million dollars a year profitable”
In-person due diligence accelerates M&A timelines and is highly recommended
“So to try to reduce the amount of time for DD, we did a face-to-face, which I'd never done before, but I a hundred percent recommend it.”
Harris: Capacity acquired YouCanBookMe in a 50/50 cash and equity split
“So it was fifty-fifty, 50 cash, 50 equity.”
Harris: Bootstrapped founders can accept hybrid M&A deals much more easily
“So for me and Keith as founders, we could take a hybrid offer much more easily than so many people who, as David says, Take on far too much complicated cap table nonsense at the very beginning. And I highly recommend it because as founders, as bootstrap founde…”
Founders without a five-year runway should seek venture capital
“If you can't afford a potential five year runway to get up to speed where you're hiring people, you're paying yourself, and you're feeling good about it, then that's the point to take on a financial partner who's gonna give you some of that upfront cash.”
Bootstrapping commits founders to a 10-20 year grind requiring strict boundaries
“And I just think it's gonna take you longer to bootstrap a company. So you're signing up for 1015, 20 years of your life. If you don't put in boundaries soon enough you know, it could, you'll burn out like anybody else.”
Harris: Tech Venture Bets Caused Over 168,000 Layoffs
“So over a 168,000 people have lost their jobs in the last couple of years from this spread bet.”
Harris: Bootstrapped SaaS companies should target 25% to 30% net profit
“If you're a SaaS bootstrapped team a company around our sort of size, you should be expecting to make 25, 30% profit, which sounds like a lot, but as I said, nobody's giving this money to you, so you need to make it yourself.”
Harris: YouCanBookMe maintains a 4.3x pay ratio vs 201x public US average
“Some incredible ratios coming out of public, publicly listed companies in America, but 201 times Is, is, is essentially the average. You can book me as 4.3”
Harris: Stock options are efficient domestically but impractical for multinational teams
“And actually, I mean, share options are quite good and tax efficient for people in one country, but for us, we had to look at a scheme that was going to apply in multiple countries.”