General Catalyst just co-led a $31.5 million seed round into a blatant rip-off of my company, Kled. (skip to 40 seconds if you want to skip context) I would typically not speak on things like this, but this level of blatant copycatting is egregious and completely unacceptable, and needs to be made an example of. This is one of hundreds of YC startups who have conducted this disgusting behavior. Unimaginative slop that continues to get rewarded due to nepotism.
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1205@avipat_ I have no moat and I must scream
So here’s an interesting bit I learned from reading @AgustinLebron3 ‘The Laws of Trading’: In his chapter on costs and capacity, he talks about how in the hedge fund industry profitable trades/strategies don’t stay profitable for long as others catch whiff of alpha. It’s not something one can protect with IP - once the idea behind the trade becomes known, others copy it and the edge disappears. Agustin says that the only way to keep the trade profitable is to keep it low-key, though eventually
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