stewThe Power of Storytelling
07.09.2021 The initial days of building a company are messy and complicated. Often more of a tactical exercise than a strategic one. Rather than trying to boil the ocean, the pragmatic move is to focus on a single wedge into a market, defining a use case that you can solve better than competitors. At this phase of building many aspects of a company are still being defined. One of these that is too often overlooked is defining the core concepts of your approach—crafting a narrative of the basi...
stewEl Cap Founders' Letter
The Power of CollisionsIntroducing El Cap Collision theory states that when suitable particles hit each other, only a certain percentage of them will result in a change. These collisions are the ones with enough energy at the moment of impact to break existing connections and form new bonds. In many ways, El Cap’s story is one of collisions—where people, companies, and technologies combine in powerful new ways. This is how our partnership came to be, and it’s a core concept of our investment ...
stewGaming crews hit different
Growing up, I loved video games; from real-time strategy (RTS) and role-playing games (RPG), to puzzlers and first-person shooters (FPS)—games like Halo, Call of Duty, and GoldenEye were formative in my childhood. Going to LAN parties with friends, where people get together in the same place to play video games, was a favorite way to spend our weekends. But after college the responsibilities of adulthood pulled me away from gaming. And it wasn’t until an old gaming friend shot me a text over ...
Pursuing things money can't buy. GP at El Cap. Used to play sports
stewThe Power of Storytelling
07.09.2021 The initial days of building a company are messy and complicated. Often more of a tactical exercise than a strategic one. Rather than trying to boil the ocean, the pragmatic move is to focus on a single wedge into a market, defining a use case that you can solve better than competitors. At this phase of building many aspects of a company are still being defined. One of these that is too often overlooked is defining the core concepts of your approach—crafting a narrative of the basi...
stewEl Cap Founders' Letter
The Power of CollisionsIntroducing El Cap Collision theory states that when suitable particles hit each other, only a certain percentage of them will result in a change. These collisions are the ones with enough energy at the moment of impact to break existing connections and form new bonds. In many ways, El Cap’s story is one of collisions—where people, companies, and technologies combine in powerful new ways. This is how our partnership came to be, and it’s a core concept of our investment ...
stewGaming crews hit different
Growing up, I loved video games; from real-time strategy (RTS) and role-playing games (RPG), to puzzlers and first-person shooters (FPS)—games like Halo, Call of Duty, and GoldenEye were formative in my childhood. Going to LAN parties with friends, where people get together in the same place to play video games, was a favorite way to spend our weekends. But after college the responsibilities of adulthood pulled me away from gaming. And it wasn’t until an old gaming friend shot me a text over ...
Pursuing things money can't buy. GP at El Cap. Used to play sports
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04.28.2021
The NFL draft is happening this weekend and having gone through that process myself, I can't help but look for parallels in the business world. The draft is a confined hiring game. A slightly warped microcosm of the broader labor market. And while the draft has rules in place specifically to give each team a fair shake, there are organizations that persistently outperform and others that consistently struggle—no need to name names… I see you Jets fans.
Throughout his career, Andy Reid, the head coach of the Kansas City Chiefs, has been one of those coaches that have persistently drafted well. Picking up Patrick Mahomes, the future league MVP, after nine other teams passed on him being a great example. I played for Andy in Philadelphia and he had a framework for navigating the NFL draft that has stuck with me. Don't draft for need, pick the best player available. It doesn't matter if you already have an all-pro quarterback and the current NFL leader in passer rating, as the Chiefs did in 2017 when they drafted Mahomes. If the best available player is a quarterback, that is who you should draft. This strategy boils down to a simple axiom: you can't coach talent, and ultimately, it is talent that wins games.
Clearly, there are practical limitations to this strategy for a business. Hiring a talented salesperson when you need a front-end engineer would be foolhardy. But there is still an important lesson here. To the degree you can, put the resume on the shelf and look for talent. Too many times I have seen a hiring process whittled down to a few candidates and the final decision is made based on prior experience. A choice that often proves to be short-sighted, particularly for startups where things can change quickly and the ability to adapt and learn is paramount.
Putting less weight on experience and more weight on talent also enables a company to expand the pool of potential candidates. And with lines that previously separated different labor markets quickly evaporating as a result of the pandemic, it's also pragmatic. Hiring is a challenge for every business, whether it's Amazon or a two-person startup. And it's no secret that the quality of talent inside an organization is the primary determinant of future success. Whenever possible, pick the best player available.
04.28.2021
The NFL draft is happening this weekend and having gone through that process myself, I can't help but look for parallels in the business world. The draft is a confined hiring game. A slightly warped microcosm of the broader labor market. And while the draft has rules in place specifically to give each team a fair shake, there are organizations that persistently outperform and others that consistently struggle—no need to name names… I see you Jets fans.
Throughout his career, Andy Reid, the head coach of the Kansas City Chiefs, has been one of those coaches that have persistently drafted well. Picking up Patrick Mahomes, the future league MVP, after nine other teams passed on him being a great example. I played for Andy in Philadelphia and he had a framework for navigating the NFL draft that has stuck with me. Don't draft for need, pick the best player available. It doesn't matter if you already have an all-pro quarterback and the current NFL leader in passer rating, as the Chiefs did in 2017 when they drafted Mahomes. If the best available player is a quarterback, that is who you should draft. This strategy boils down to a simple axiom: you can't coach talent, and ultimately, it is talent that wins games.
Clearly, there are practical limitations to this strategy for a business. Hiring a talented salesperson when you need a front-end engineer would be foolhardy. But there is still an important lesson here. To the degree you can, put the resume on the shelf and look for talent. Too many times I have seen a hiring process whittled down to a few candidates and the final decision is made based on prior experience. A choice that often proves to be short-sighted, particularly for startups where things can change quickly and the ability to adapt and learn is paramount.
Putting less weight on experience and more weight on talent also enables a company to expand the pool of potential candidates. And with lines that previously separated different labor markets quickly evaporating as a result of the pandemic, it's also pragmatic. Hiring is a challenge for every business, whether it's Amazon or a two-person startup. And it's no secret that the quality of talent inside an organization is the primary determinant of future success. Whenever possible, pick the best player available.
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