Jeff Harbach

1/ VCs consistently bet on some of the world’s most innovative, and implicitly riskiest, companies in the pursuit of 10x-100x exits. In this week’s KF journal, we share the VC framework for optimizing success through the Kauffman Fellows Four Pillars. ➡️ bit.ly/kfpillars

In 20+ years of building @firstround, I’ve never hired for this specific role before. I’m kicking off a search to hire an Investor who will work directly alongside me. They will share my obsession to meet with the highest potential founders as early as possible, often before they even have a clear “imagine if” yet. Although the role itself is still being defined, my commitment is to work closely with this person to help them build the foundation of their investing career. Here’s what’s probably true about you if you’re the right fit: - You’re enthusiastic and obsessive. Following your curiosity has taken you down often weird and winding paths. - You already know a lot of brilliant builders — and more importantly, they enjoy spending time with you. You have a unique ability to generate followership, likely because you give more than you take. - You actually enjoy the work of building relationships from scratch: the cold emails, the endless events, the persistent follow-ups, the months of coffee chats. It requires relentless execution, and that excites you. You go about this work in an authentic way that isn’t conventional “networking.” If you’re looking for a role where the title does all the heavy lifting for you, this isn’t it. - You don’t find it difficult to put unreasonable hours into your work because it doesn’t feel like work to you. You’d call yourself a “work enthusiast.” - You’ve been immersed in the startup world long enough to have real context. What matters most is you’ve been close enough to startups to understand how they actually work and what great looks like. - You obsess over markets, customers, and why some businesses work while others don’t, but you can also hang when a conversation goes deep into technical choices. - You’re an exceptional communicator who tends to be more of a “simplifier” than a “complexifier.” - We’ll work together incredibly closely, but you aren’t someone who needs to be managed. You learn best by watching, by doing, by asking well-calibrated questions — preferring to “take the wheel” instead of being a passenger. You’d rather shape a role than fill one. If you want to spend your time with builders at the very beginning — and learn this craft of early-stage investing alongside someone who’s been at it for two decades and still thinks it’s the best job in the world — I’d love to meet you. SF or NYC only, with long days and lots of travel in both directions. Apply below. jobs.ashbyhq.com/firstround/…

So after all these hours talking about AI, in these last five minutes I am going to talk about: Horses. Engines, steam engines, were invented in 1700. And what followed was 200 years of steady improvement, with engines getting 20% better a decade. For the first 120 years of that steady improvement, horses didn't notice at all. Then, between 1930 and 1950, 90% of the horses in the US disappeared. Progress in engines was steady. Equivalence to horses was sudden.