ChatGPT can help you become a world class software engineer, build companies, etc. The upside is might greater than $1M in certain situations. Of course, you still have to do the work.
STARTUPS
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Founders Attention to Detail Drives Startup Culture
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Not to toot our horn too much, but a useful takeaway for other startups: the founders demonstrating that they can drill to arbitrary detail or take a note to follow up with someone who can, and *actually doing this*, is a powerful thing for culture.
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Interview with Deep Whitman: Indie Dev, AI Models, and Side Projects
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We interviewed @deepwhitman, the creator of https://t.co/A0BKyecrDI, to talk about indie software dev, discovering new AI models, classifying model modalities, paying your rent with side projects, and more.
— Replicate (@replicate) 20 octobre 2023
Watch the full interview 🍿https://t.co/2lAFxnkYq5 pic.twitter.com/Bx0tX72U5FWe interviewed @deepwhitman
, the creator of http://
replicover.com, to talk about indie software dev, discovering new AI models, classifying model modalities, paying your rent with side projects, and more. Watch the full interview https://
youtube.com/watch?v=cKLJZ_
_DXnA
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Stripe Founders Discuss Entrepreneurship and Payments on Podcast
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There was a really good podcast episode with Patrick and John Collison on Invest Like the Best. It’s denser than most podcasts, covering (among others) differing perspectives on founder-as-auteur versus founder-as-metonym-for-tribe, how payments has gotten more complex, etc.
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NVIDIA Inception Startup Minerva Combats Financial Crime
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Catch #NVIDIAInception startup Minerva at #Money2020 for a demo on deploying deep learning models to fight financial crime. Also, stop by the 25+ Inception member booths to discover how startups are moving the needle in financial services. https://
nvda.ws/3tHiqx6 -
IRS Capital Loss Limits on Startup Investments
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You: “There is no guarantee that this company ever exits!”
IRS: “Then you can claim $3k a year of capital losses back. After you pay.”
You: “Even if we successfully exit it might take another 10 years!”
IRS: “The United States will be here and diligently pursue what it is owed.” -
Startup Founders Face Tax Obligations on Vested Equity
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And so if you are a founder of a high flying startup and own 20% in year 4 when it is worth $200 million, congratulations! IRS: “Alright you vested $8 million of equity this year.”
You: “Paper wealth only.”
IRS: “Yeah most is. You owe approximately $3.5 million.” -
Founder Equity Vesting Tax Implications and 83(b) Filing
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You’d think if the founders stick around this is consequence free. Oh no no no. Because that equity vesting over time *is income when it vests* and according to the law, unless you file an 83(b), it is valued at the fair market value *as of the time it vests.*
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Founder Equity Vesting: Why Professional Investors Require Time-Based Ownership
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At the exact moment a company is spoken into being, it’s equity is worth almost nothing. For various reasons, professional investors will not allow the founders to own it outright at a cost basis of nothing. They will want that ownership to vest over time.
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83(b) Election Tax Trap for Startup Founders Explained
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“Can you walk through, for a non-specialist, how failure to have an 83(b) election bankrupts founders?” You have to pay taxes on all income earned in a year, right? Equity compensation is a form of income, right? That sets the stage for the time bomb.