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Ask: I am researching how to build a version of the Stanford 2020 fund. Read more here and here. The biggest blocker I am identifying is access to a sufficiently skilled fund lawyer who can emulate what Stanford’s legal fund was able to do. Do you know a lawyer who can help? If so, drop a comment or send me a note at Prose aside, poetry below:

On calls that I have with premium subscribers, I often joke that I have the most preposterous job ever. Great people, with healthy wallets, pay me, to meet other great people, with equally healthy wallets, and give my $0.02 on outlandish proposals to build the future. Most proposals will then return pennies on the dollar back on the initial investment, while a few of these proposals’ founders will go down as the “Great People who Built America” (e.g. Cornelius Vanderbilt, John D. Rockefeller, Andrew Carnegie, J.P. Morgan and Henry Ford of the 21st century. …

Two cofounders bought a struggling farm business and are now revamping it. Strange inconsistent financials that I need clarity on.

Company Logo
Company Logo

Want to see the complete rich format deal memo? Read the original post at:

Deal Abstract

Two cofounders bought a struggling farm business and are now revamping it. Strange inconsistent financials that I need clarity on.


  1. Fundraising Target? $1070000
  2. Fundraised So Far? $376416
  3. Pre-Money Valuation? $18500000
  4. Previous Year’s Annual Revenue: $0
  5. Previous Year’s Annual Net Income (+ Profitable, — Burning Cash): $0

Six Calacanis Criteria

  1. A startup that is based in SV? False, Belvidere, NJ
  2. Has at least 2 founders? True, Two cofounders
  3. Has product in the market? False, No revenue
  4. 6 months of continuous user growth or 6 months of revenue?

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“These are the golden days, Muhan.” — Andrew Yang, Fall 2017


In my first introduction piece, How to Run for President (of the United States,) I introduced my experience with the Andrew Yang for President 2020 campaign and my goals with these writings. This piece will be the first of five to cover the starting of the campaign, what Yang called “The Golden Days,” covering September 2017 to June 2018. The structure will be covering what developments our campaign had, month by month, as well as the very human experiences and people behind it all. At the end of each major segment, I’ll try to include a keystone takeaway covering such as fundraising, launching, cash flow management, and technology. …

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Step one: register with the Federal Election Commission. (Estimated time: 48 hours.)

Pro-tip: when naming a presidential campaign, go for magnanimous, not humble e.g. no “Friends of Andrew Yang,” yes “Yang for America.”

Step two: register for an Employer Identification Number (EIN) from the IRS, start a bank account with this EIN, build an ActBlue donation page and boom, you’re in business. (Estimated: 2–4 weeks, depending on bank.)

Step three: build a nationwide movement with support from over 400,000 Americans, raise $40 million dollars, and outlast sitting senators, former governors, and other lifelong politicians. …

If you’ve ever had a job, you’ve had a manager. Assuming you’ve had multiple jobs and multiple managers, chances are good that the poor managers far outnumber the good ones. What makes a good manager, and how do you become one?

This article is for first-time managers, especially for those who have been thrown into the deep end with few role models. The goal is to give you the 80–20 of management in 10 minutes.

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Start where you are.

You Are Here

There are many ways to become an accidental manager. You may be:

  • In an organization that grew in funding or work, and suddenly needs to get more done in the same amount of time. In this case, as a competent individual contributor, you need to hire and solve your original line of work at a greater scale. …

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I am a library addict.

At the time of this writing, I have 15 books checked out, 24 books on hold, and am still wondering where my copy of Thinking, Fast and Slow and Infinite Jest are.

Besides being a hopeless biblio-hoarder, my one redemption is a surprisingly high read-to-borrow ratio. In the last three months, I’ve finished 12 books, roughly 20% of the ~60 books I’ve borrowed this quarter. With a quarter equaling 13 weeks, this comes out to 4.65 books that I have simultaneously checked out at any given time, finishing on average 1 book a week.

This is not meant to be a brag, as I can think of few gloats more inane. Statistically speaking, however, this is quite uncommon. …

This month Uber finally went public.

After a decade in business, the ridesharing tech giant gave its employees and investors a chance to cash out, among whom includes famed angel investor Jason Calacanis. Remarkably, Calacanis was able to invest a measly $25,000 to buy 0.5% of a company that now trades at a near $70 billion dollar market cap.

Welcome to the world of angel investing. The name of the game is to spot innovators early and financially back their companies that start small and grow big.

Maybe you’ve heard of the fabulous returns by early investors in Facebook, Twitter, and Google. Maybe you’re deeply enamoured by the idea of funding the next Steve Jobs. Or maybe, you like the thrill of betting on companies and seeing them fight it out in the marketplace, much like fantasy draft leagues or stock picking. …


Muhan Zhang

First employee and former COO at Yang2020. I write about startup investing and how to build the future. Subscribe at

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