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"If [college] teaches people to be productive citizens of society, On Deck is helping them become productive citizens of the internet"
— @eriktorenberg on the @NFX podcast.
What does this mean?
Why does it matter?
A quick thread exploring the @beondeck mission/vision:
— @eriktorenberg on the @NFX podcast.
What does this mean?
Why does it matter?
A quick thread exploring the @beondeck mission/vision:
First, let's wind back the clock 
Back in the 90's and early 2000's, capital and credentials were bottlenecks to starting a technology company.
Anyone can start up... so long as you can get an MBA and $10M from Sand Hill Road.
Back in the 90's and early 2000's, capital and credentials were bottlenecks to starting a technology company.
Anyone can start up... so long as you can get an MBA and $10M from Sand Hill Road.
In the mid 2000s, that all changed.
With the rise of AWS & open source software, the cost to spin up new software products plummeted.
Now, anyone can start up... so long as you can code.
Engineering skills became the new scarcity.
Enter YC: https://twitter.com/eriktorenberg/status/1208230807044640768
With the rise of AWS & open source software, the cost to spin up new software products plummeted.
Now, anyone can start up... so long as you can code.
Engineering skills became the new scarcity.
Enter YC: https://twitter.com/eriktorenberg/status/1208230807044640768
Today, it's never been easier to start up.
Knowledge & content are ubiquitous. No-code tools and dev infrastructure are powerful. Sprawling social networks help you discover and serve niche audiences.
Anyone can start a tech co, anywhere in the world. https://twitter.com/gregisenberg/status/1335629462663278599
Knowledge & content are ubiquitous. No-code tools and dev infrastructure are powerful. Sprawling social networks help you discover and serve niche audiences.
Anyone can start a tech co, anywhere in the world. https://twitter.com/gregisenberg/status/1335629462663278599
But if it's so easy, why is a lot of great talent still sitting on the sidelines? Why aren't more people building online?
The scarcity has shifted, again.
Community is the new scarcity. https://twitter.com/thisiskp_/status/1333116863430221825
The scarcity has shifted, again.
Community is the new scarcity. https://twitter.com/thisiskp_/status/1333116863430221825
Building as part of a strong community helps you lift above the noise: hire the right people, solve the right problems.
It's easier to "build something people want" when you have a network of well-connected, committed early adopters for feedback. https://twitter.com/coolnalu/status/1337965521061490690
It's easier to "build something people want" when you have a network of well-connected, committed early adopters for feedback. https://twitter.com/coolnalu/status/1337965521061490690
Those "sprawling social networks" allow unprecedented access to global audiences, but are becoming a steadily more expensive, extractive acquisition channel.
@chamath says 40% of all VC dollars now go to FANG advertising spend.
Community is the new moat.
https://twitter.com/firstround/status/1207335261685702656
@chamath says 40% of all VC dollars now go to FANG advertising spend.
Community is the new moat.
https://twitter.com/firstround/status/1207335261685702656
Founders used to have to give up substantial equity to access this resource.
@beondeck is proud to be expanding access, and unbundling community from the "accelerator" model of VC. https://twitter.com/david__booth/status/1250249585395552256
@beondeck is proud to be expanding access, and unbundling community from the "accelerator" model of VC. https://twitter.com/david__booth/status/1250249585395552256
Less obvious, but just as important is online education.
Edtech 1.0; MOOCs failed to live up to the hype.
These programs missed something critical to the learning process: the relationships, respect and perspective of *who you learn with* https://twitter.com/patrickxrivera/status/1297653426784833541
Edtech 1.0; MOOCs failed to live up to the hype.
These programs missed something critical to the learning process: the relationships, respect and perspective of *who you learn with* https://twitter.com/patrickxrivera/status/1297653426784833541
On Deck "re-bundles" community with learning.
Education at On Deck = accumulating, peer to peer knowledge transfer, facilitated through structured events, product, and resources.
Those who give the most, get the most value. https://twitter.com/beondeck/status/1309171344668467200
Education at On Deck = accumulating, peer to peer knowledge transfer, facilitated through structured events, product, and resources.
Those who give the most, get the most value. https://twitter.com/beondeck/status/1309171344668467200
So, community helps people become better citizens of the internet. Is that the take-away?
Let's go deeper
Let's go deeper
The internet is a technological revolution, which is entering what @CarlotaPrzPerez calls its "deployment phase".
h/t @ganeumann for the excellent blog, and @tylertringas for putting it on my radar: http://reactionwheel.net/2015/10/the-deployment-age.html
h/t @ganeumann for the excellent blog, and @tylertringas for putting it on my radar: http://reactionwheel.net/2015/10/the-deployment-age.html
"The past ~250 years have seen four such great technological revolutions and the first half of a fifth".
Each is characterized by a critical factor of production suddenly becoming very cheap; new infrastructure being built; and widespread gains in productivity from the new tech.
Each is characterized by a critical factor of production suddenly becoming very cheap; new infrastructure being built; and widespread gains in productivity from the new tech.
In the “deployment phase”, what was new is now the “new normal”
Technology infiltrates every aspect of the economy, but becomes invisible.
Software eats the world, and everybody stops noticing it.
Where do you go, to learn to thrive in this world? Probably not college.
Technology infiltrates every aspect of the economy, but becomes invisible.
Software eats the world, and everybody stops noticing it.Where do you go, to learn to thrive in this world? Probably not college.
The top U.S. colleges were all founded 200+ years ago, established to train citizens to be productive members of industrial-era society.
Coasting on institutional momentum and credentialism — most have long since detached from reality. https://twitter.com/eriktorenberg/status/1306131099358081024
Coasting on institutional momentum and credentialism — most have long since detached from reality. https://twitter.com/eriktorenberg/status/1306131099358081024
Worse, most were in big trouble before the pandemic — with declining enrolment, heavy student debt, and a misaligned value proposition for many learners.
COVID accelerated this decline.
H/t @tylercowen, @Noahpinion with an excellent summary: https://www.bloomberg.com/opinion/articles/2020-06-11/coronavirus-shutdowns-may-change-u-s-universities-forever
COVID accelerated this decline.
H/t @tylercowen, @Noahpinion with an excellent summary: https://www.bloomberg.com/opinion/articles/2020-06-11/coronavirus-shutdowns-may-change-u-s-universities-forever
Meanwhile, the half-life of a professional skill has fallen to 5 years.
The only constant throughout your career will be *change*
Today, most people finish school at 18 - 22, and never go back. Does that make sense?
https://twitter.com/tommycollison/status/1337516222645092353?s=21
The only constant throughout your career will be *change*
Today, most people finish school at 18 - 22, and never go back. Does that make sense?
https://twitter.com/tommycollison/status/1337516222645092353?s=21
@ByrneHobart says accelerators like YC are already quasi-education institutions. I agree with a lot of this.
But VC is ultimately a feature of the past "installation" cycle. Many will continue to create immense value, but their best years are behind them. https://medium.com/swlh/y-combinator-not-lambda-school-is-unbundling-education-bd6fdf0c78d7
But VC is ultimately a feature of the past "installation" cycle. Many will continue to create immense value, but their best years are behind them. https://medium.com/swlh/y-combinator-not-lambda-school-is-unbundling-education-bd6fdf0c78d7
If you follow the "innovation S-Curve" theory to its conclusion, the opportunity for becomes obvious.
On Deck is building a modern education institution — a lifelong learning community for "citizens of the internet".
An "OS for ambition".
On Deck is building a modern education institution — a lifelong learning community for "citizens of the internet".
An "OS for ambition".
Here's the podcast from the first tweet, worth a listen if you're interested in learning more! s/o @JamesCurrier for hosting Erik. https://www.nfx.com/post/erik-torenberg-podcast/
If this vision resonates — come help us build it! We're hiring. *Future founders wanted.* My DM's are open. https://twitter.com/david__booth/status/1277348588985520129
Want to learn more about On Deck?
Here's a thread of all our communities & programs: https://twitter.com/beondeck/status/1343711606337720320
Here's a thread of all our communities & programs: https://twitter.com/beondeck/status/1343711606337720320
Here's what we've been up to over the past 12 months https://twitter.com/beondeck/status/1343723704505667584
Here's what our Fellows/community members say about their experience: https://www.beondeck.com/wall-of-love
Here's where you can learn more and apply to join a program: http://beondeck.com/apply
