There aren’t many brands where the mere mention of their name evokes joy. Whose customers love the brand so much they display the product in their homes and post about it on social media. Especially if that product is toilet paper. My first substack post in January 2020 described how…

What a crazy few years. To join the partnership at a fund like AirTree is a dream come true. To do it alongside Elicia and know I’ll get to learn from her for the rest of my career is too lucky to imagine. I feel so grateful for the trust…

In September 2020 we announced our Diversity Pledge alongside the launch of our Explorer Program. In this pledge, we commit that for every investment we lead, we will bring at least one investor from an underrepresented group on to the cap table, provided the founder is ok with it. Our…

How Square cracked the fintech playbook and positioned itself with an accumulating advantage at the centre of commerce — Published 13th June 2020 on jax.substack.com. Subscribe to receive new posts in your inbox. If you spend enough time in fintech a playbook emerges: Get Unit Economics Working (this is very hard in fintech) Become a Daily Habit Bundle Proprietary data + ML = New Lending Opportunities

Published 13th June 2020 on jax.substack.com. Subscribe to receive new posts in your inbox. With all the news, I decided to do my own work on Spotify I’m not the first to write the bull case for Spotify, but I wanted to do the work on whether to invest and…

We all know that diversity of thought leads to better decision-making. Diverse thinking happens when you bring people together from a range of backgrounds and experiences, which is why we include an inclusion clause in our standard term sheet. We know that engaging with diverse networks outside of our own…

This blog was originally posted on my Substack newsletter, to read more of my writing, sign up here “Customers don’t want a bank. They want services that minimize their time on financial management so they can maximize their time running their business” 11:FS The Problem The average micro business spends 15 hours…

An edited version of this post was published in StartupSmart on January 15th 2020. As investors, we look for waves of change that startups can ride. When the world changes and startups are early to a new, fast-growing market they will be pulled by customer demand. Within Healthcare there is…

For startups to grow fast, the founder needs to grow faster. But sometimes you don’t know what you’re doing wrong, and your position of power in the company means no one will give you objective feedback. Recently several of the founders in our portfolio have asked us to recommend a…