Author Archives: Hervé Lebret

Progress and Innovation according to Arthur Lochmann

Magnificent book again, La Vie solide (The Solid Life) by Arthur Lochmann that comes at the right moment when France asks the question of repairing the frame of Notre Dame. Starting on page 182, he makes a brilliant analysis of heritage and innovation. He talks about duration and time, which immediately made me think of all the activities I took years to master (venture capital, research on startups, more personal hobbies on Street Art). Without duration, no mastering. Here are my last (translated) excerpts from this beautiful book.

At the other end of the spectrum wriggles innovation. In a few decades, this has replaced the idea of progress in public discourse. The success of the rhetoric of innovation is one of the most palpable expressions of the phenomenon of acceleration of time in modern space. Today we speak of disruption to denote radical innovations that have the effect of breaking existing social structures. As Bernard Stiegler puts it in a recent work [1], this disruption has as an operating principle going faster than society without giving it time to adapt. […] As the author summarizes, for the “lords of the economic war […] it is a question of going faster than societies to impose on them models that destroy their social structures”. How not to go crazy: this is the subtitle of this book which focuses on the effects on individuals and social groups in the nihilist desert that is born of these constant mutations.
The physicist and philosopher Etienne Klein compared the conceptions of time that underlie notions of progress and innovation respectively. Progress, a structuring perspective since the Enlightenment, is based on the idea of a constructing time, “an accomplice of our freedom”. The future is credible and desirable; it is this that allows us to make sacrifices of personal time now to make possible a better collective future. Innovation, on the other hand, projects a completely different conception of time: it is corruptible, it damages things. This was already the case before the Enlightenment, especially for Bacon, for whom the notion of innovation meant the small modifications necessary to preserve the situation as it is. This is again the case today, in a slightly different way: facing the ongoing climate catastrophe, who is still able to imagine any future? In short, innovation is the notion that has taken the place of progress when it has become impossible to think of a future. Like heritage, but in an inverted way, it’s a form of immobilization in the present. In short, heritage conservation and the cult of innovation are two aspects of one and the same thing: the abolition of duration by the advent of a time that has been left out. [Pages 185-7]

“A liquid society is one in which the contexts of action of its members change in less time than it takes for the modes of action to freeze in habits and routines,” wrote Zygmunt Bauman in La Vie liquide (The Liquid Life) [2]. In the capitalism of innovation, every day brings new changes. Social structures, as well as friendly and loving bonds, have lost their former rigidity to become fluid. Everything is always going on and time is running out to be a present without perspective. The paradoxical effect of acceleration is the petrification of time and the erasure of duration. [Page 191]

It is no coincidence that the figure of the craftsman has seen in recent years a return to grace, both on the side of social criticism by a Richard Sennett or by a Matthew B. Crawford and with enthusiasts that are the makers of the fablabs or the “firsts of the class” in reconversion. First of all, because the craftsmanship is very alive and constantly shatters the apparent opposition between tradition and modernity. On a construction site, there is no choice between old techniques and new ones. There is always a clever mix of each other. The practice of the frame, in particular, teaches us that being at the forefront of modernity does not mean giving up centuries-old techniques. The knowledge of the past is not outdated; it is enriched by new methods of work, and sometimes even by older ones that are rediscovered. [Pages 193-4]

[1] Bernard Stiegler, Dans la disruption : Comment ne pas devenir fou ? Paris, Les liens qui libèrent, 2016.
[2] Zygmunt Bauman, La Vie liquide, translated by Christophe Rosson, Paris, Albin Michel, 2013, p. 7 (modified translation)

The analysis of 500+ startups

Following my traditional analysis of startups through their IPO filings documents (you can check my 2017 analysis on 400+ documents here or the tag #equity on this blog), here is an updated analysis with 500+ start-ups.

You can have a look at the full 500 cap. tables on scribd or look at a shorter synthesis which follows.I hope this is self-explanatory enough.

Crafts vs industry, the meaning of work according to Arthur Lochmann

Following my recent posts about the meaning and values of work through Crawford’s Shop Class as Soulcraft, here are a few lines translated from the magnificent book by Arthur Lochmann La Vie Solide. I say magnificient because the writing is beautiful, precise, aerial.

Here are pages 99-102

Certainly, all intellectual knowledge, even the most abstract, involves a make, is realized in an action: the knowledge of a theorem of mathematics includes knowing how to apply it. But know-how is distinguished from intellectual knowledge in that the latter can just be available, actionable when needed, and stored in the meantime on external technical supports. The movement of outsourcing knowledge, initiated by writing, – this is the whole topic of Plato’s Phaedrus; writing, at the same time as it preserves knowledge, is also what exempts us from retaining it and making it truly our own – is today exacerbated by the development of new technologies and the permanent accessibility of knowledge offered by these. The relation to knowledge is modified. Knowledge becomes peripheral, whereas what one makes one’s own, what one interiorizes is the capacity to find it again and, above all, to process it. Probably this relationship to knowledge will experience deeper transformations in the coming years with the development of artificial intelligence, which allows to outsource not only the storage of knowledge, but also part of its analytical processing.

Know-how, on the other hand, is characterized by being internalized, incorporated. It involves an intuitive dimension that allows us to recognize the salient features of a situation and to identify the rules of action. You do not consult a video on Youtube to know how to pass a beam of five meters in length in a stairwell, you must have acquired an intuition of space. It alone will allow us to orient the beam to best use the diagonals of space, it alone will have anchored in us the continuous perception of both ends of the beam. However, it is not magic or innate ability. On the contrary, this intuition is an intellectual conquest. Intuition is developed with work. And in this elaboration, which is called experience, the repetition of operations plays a decisive role in making it possible to establish cumulative links between the experienced situations and the chosen solutions. Experience thus consists of a process of appropriation of life.

Several critics of modernity have diagnosed, even found, a gradual destruction of experience. First, because the lifespan of skills, and therefore the experience of their practice, tends to be reduced. In certain areas of activity that are particularly geared to change – as in the case of consulting, the function of which is to change institutions – experience is even ruled out in favor of innovative talent. More deeply, some thinkers of modernity consider that the very possibility of experience is called into question by the acceleration of social and professional rhythms. The appropriation of the “shocks” of everyday life and their transformation into experience requires stable narrative models to establish links between the past and the future. Like the analysis by Hartmut Rosa, when waiting horizons are constantly changing and “spaces of experience are constantly rebuilding” [1], we can only witness a gradual loss of experience.

In the craft trades, however, the techniques evolve slowly, and the skills retain a long life span. Experience therefore remains absolutely crucial. With time and situations, we acquire a whole repertoire of methods and tips that enrich, clarify and complicate material thinking. It is estimated that it takes about ten thousand hours of practice [2] to learn a trade in medicine, music or crafts. In terms of structure, it is indeed the time it takes to acquire an overview of the various situations that may arise and to master all the details. This duration also corresponds to the seven or so years of training (apprenticeship and then the tour de France) which are traditionally necessary to be granted companion by a companionship guild.

[1] Hartmut Rosa, Accélération, Paris, La Découverte, 2010, p.179
[2] In the venture capital world, one says that it reqiures five years and ten million to be come a good investor. Another illustration that experience matters there too and that VC is more about skills and crafts than about an industry of knowledge.

Then pages 153-155:

This knowledge, because it has been developed over time by and for the community, is similar to what we now call common goods, that is to say goods that are intended to be universal and that privatization can destroy or diminish – and which therefore require specific care. In contrast to the “professional secrecy” claimed by certain corporations to grant their knowledge only to those who would have been worth it, in contrast also to the idea of patenting techniques and methods, the will of transmission of knowledge that I have encountered on most sites is in my view of the same logic: know-how is an intangible treasure that belongs to all of society. Each worker is the temporary custodian. As such, her or his responsibility is to make it alive by transmitting it. “Any received word that you have not transmitted is a stolen word,” say the companions.

It is in such a conception of know-how as common goods that the attitude of computer developers working according to the principles of free software and open source is placed. The Linux operating system or Mozilla Firefox web browser is developed and constantly improved by a community of developers who produce their own software. They work first for themselves, making the tools they need, but also for the common good. This is the pattern followed by most free software: first developed to meet the specific need and not yet satisfied by a private community, they are then made public and made available to all, so that everyone can use them and, eventually, adapt them to their own use. Better still, the principle of collective intelligence on which this work is organized consists in considering that the best software will be obtained thanks to the collaboration of the greatest number.

Developers, artisans of modern times, are therefore in the lineage of the dêmiourgos – a term that refers to the artisans, from the ancient Greek ergon, work, and dêmios, public – while renewing its registration in the community. The community here is instituted by the sole decision to take care of a common good. It is not located geographically: it is that of the users of the whole world, in other words the universal common good. It is no more historically located: the process of transmission from generation to generation of old know-how is the process of real-time sharing.

This example, far from being trivial, is a sign of the vitality and modernity of craftsmanship as a way of working, of organization and more generally as a culture and ethical model concerned with the common good through the sharing of knowledge – this while standing out from traditional communities and social structures.

Uber finally files to go public – Here’s my cap. table

Uber’s S-1 has just been released. I jumped on the opportunity to analyze the shareholding of the startup, a thing I had tried to do in 2017 (with much less information – check here). Here are the figures that I found (subject to errors related to my possible too much eagerness…)


Uber cap. table – from the SEC S-1 published on April 12, 2019

And, if you do not have the courage to read my post What is the equity structure of Uber and Airbnb?, here is what I understood in March 2017:


Uber cap. table – A speculative exercise with very little information available

The Age of Founders of Start-ups – Again!

The age of founders of start-ups is a recurrent topic on this blog. You can just check it through hashtag #age. I have just updated my cap. table database with now 500 “famous-enough” companies for which I have compiled a lot of data. You can check here the most recent update with 450+ companies in mid 2018 – Some thoughts about European Tech. IPOs or a synthesis dated 2017 with 400 companies Equity in Startups.

I just looked at the age of 850 founders from these 500 companies. I think it is interesting. I hope you will agree… I am not even sure I need to comment much. Average age is 37 overall, 45 in biotech, 37 in hardware (electronics, telecom and computers, energy) and 32 in software/internet.

The Meaning and Value of Work according to Matthew Crawford

I began to read Eloge du Carburateur – Essai sur le sens et la valeur du travail (translated from the American essay Shop Class as Soulcraft: An Inquiry into the Value of Work) by Matthew B. Crawford. I wrote a first post about why I began that book here.

Here is an interesting critique of artificial intelligence and the meaning of work (read on page 205 of the French edition & found on Google books)

“In John Searle’s famous critique of artificial intelligence, he asks us to imagine a man locked in a room, with only a slit connecting him to the outside world [1]. Through the door come pieces of paper with Chinese writing on them. The man does not know Chinese. Unbeknownst to him, the writing takes the form of questions. He is equipped with a set of instructions in English, for matching other Chinese symbols to the ones he is given. He passes these back through the slit, and they are taken to be answers to the questions. Searle’s point is that to perform the task, the man needn’t know any Chinese, and neither does a computer that does the same task as he. Some enthusiasts of artificial intelligence, insist that the system knows Chinese – somehow there is thinking without a thinker. But a less mystical position would leave it as a saying that it is the human programmer, who wrote up the instructions for matching Chinese answers to Chinses questions, who knows Chinese.

“The mechanic relying con computerized diagnostics finds himself in a position similar to that of the man in the Chinese room. The crucial stipulation in the thought experiment is that one could indeed have a set of rules that is fully adequate for matching answers to questions without any reference to the meaning of the words being trafficked in . Whether this is in fact possible is a deep question in linguistics and philosophy of midn, and there is no noncontroversial answer to it. Yet the thoughtless way in which work is often conceived seems to presume the stipulation is correct. We view human beings as inferior versions of computers.”

[1] John R. Searle, “Minds, Brains and Programs”, Behavioral and Brain Science, 3, n.3, September 1980.

I had noticed in my French post other interesting points:

“We are used to thinking of intellectual virtue and moral virtue as two very different things, but in my opinion this distinction is erroneous. The mutual involvement of ethics and knowledge is well understood by Robert Pirsig in what remains to my mind one of the most successful (and funniest) passages of his Zen and the Art of Motorcycle Maintenance [More on wikipedia here]. (…) To be a good mechanic, it is necessary to know how to engage personally: I am a mechanic. On the other hand being a good mechanic means having a keen awareness of the fact that your task has nothing to do with the idiosyncrasies of your personality, that it has something universal. (…) The identification of this truth requires a certain disposition of the individual, a certain capacity of attention accompanied by a feeling of responsibility towards the motorcycle.” [Pages 113-115]

“Virtue is the effort to cross the veil of egocentric consciousness and to find the world as it really is. This effort is never completely successful because our own concerns constantly interfere with it. But getting out of oneself is the task of the artist, and also that of the mechanic.” [Page 117]

“So what advice should be given to young people? If you feel a natural inclination for university research, if you urgently need to read the hardest books and think you can spend four years doing it, then sign up for college. In fact, approach your university studies in a spirit of craftsmanship, immersing yourself in the world of humanities or natural sciences. But if it’s not the case, if the prospect of spending four more years sitting in a classroom gives you headaches, I have good news for you: nothing forces you to simulate the slightest interest in the student life for the simple purpose of making a decent living as an output. And if you still want to go to college, learn to do something during the holidays. You’ll have a better chance of feeling better about yourself, and possibly getting better paid, if you’re pursuing a freelance craftsman career than locked up in an open-space office (a “modular workstation” as they say elegantly ), to manipulate fragments of information or to play low quality “creatives”. Certainly, to follow this advice, perhaps it is necessary to possess a little rebellious personality, because this assumes to reject the path traced for a professional future conceived as obligatory and inevitable.” [Page 65]

“One of the principles of contemporary management is to abandon the management of details to the base and accumulate recognition of merit at the top. For leaders, the rule is to avoid making real decisions that may end up hurting their career but knowing how to cook a posteriori stories that allow them to interpret the least positive result in their favor.” [Page 61]

Augmented humans, diminished humankind – From Alzheimer’s to transhumanism, science serving a mercantile and hegemonic ideology

Following a recent post about critics of technosciences and a much older one about the failed promises of science, here is a very short post about a (very good) book written in French and not (yet) translated in English: Homme augmenté, humanité diminuéeD’Alzheimer au transhumanisme, la science au service d’une idéologie hégémonique mercantile (Augmented humans, diminished humankind – From Alzheimer’s to transhumanism, science serving a mercantile and hegemonic ideology.)

The author begins with his personal story, how his mother suffered and died from this terrible Alzheimer’s disease. Then he began to inquire about it and his doubts began to grow. We do not have to agree with everything author Philippe Baqué says, but we cannot avoid having the same doubts about where and how science and innovation drive us all. I hope these three short extracts will create the same reaction I felt:

[Page 71] Jean Maisondieu, a psychiatrist and author of Crépuscule de la Raison, la maladie d’Alzheimer en question (Sunset of reason, Alzheimer’s disease in question), often claims that Alzheimer’s disease does not exist, but the Alzheimer’s patients do exist for sure.

[Page 74] I reached the conlusion that patients are demented mostly because they were dying of fear, at the idea of death. The brains of Alzheimer’s patients might be altered, but these patients are mostly sick of fear.

[Page 260] I feel the need to ask the question again: what is transhumanism? An economic and political lobby? A technoreligion? A new eugenic ideology? The biggest science fraud of the 21st century?

Worth thinking about it… Is aging a disease? Is death a disease?

Steve Jobs in Paris in 1984

My friends at INRIA just mentioned to me a short but great interview of Steve Jobs by French Television in 1984, when he was asked if France could have similar start-ups to Silicon Valley. Here is his answer:


Even if you hear more the French translation, you can hear his voice too:
– Research level is good but concrete applications seem to be a problem, and this is an important step for innovation
– This is coming from a lack of companies ready to try
– The risk is seldom taken by large corporations, but by small ones
– You need many small firm with talented students and venture capital
– You also need champions you take as models, that enable saying “innovation is this”
– There is a more subtle problem, a cultural one: in Europe, failure is serious. If you fail in Europe right after university, it follows you for ever. In the USA, we keep failing all the time.
– What you also need is a solid software industry, because software is the new oil. You need hundreds of small firms and then you can dominate an industry.
– You need talented students, a good understanding of technology and encougare young people to create small firms.
– It’s all about private initiative. Big companies should not interfere, neither the government should. We should let entrepreneurs own it.

Thirty-five years later, is the situation different? And if he was still alive, would he say the same things? I let you judge …

Cynthia Fleury : To be Brave is sometimes to Endure, sometimes to Break up

I have already mentioned Cynthia Fleury on this blog, for example some of her books on Transhumanism is Science Fiction. I just read an interview of her on Telerama, Cynthia Fleury : “Etre courageux, c’est parfois endurer, parfois rompre”. It is so great, I just decided to translate it my way…

MesLivres-Cynthia-Fleury

Translated from Juliette Cerf. First published on Telerama on 30/08/2015, updated on 01/02/2018.

A philosopher and a psychoanalyst, she insists on how important it is for anyone to build her or his own destiny. It is a condition to protect democracy.

When she was a young doctoral student in philosophy, Cynthia Fleury dreamed of living on a back seat, to devote herself to research and writing, far from the hubbub of the city … Life decided differently and the young woman learnt with time how to live on stage. To be all round. She is now in her early 40s, used to debates and much appreciated by the media for her sharp speech and clear vision. Cynthia Fleury combines many activities: a researcher in political philosophy and a psychoanalyst, she teaches at the American University of Paris. She is a member of the advisory board of the National Ethics Committee, she is also part of Nicolas Hulot Foundation’s think tank for nature and humankind and she is contributor to the Paris medical and psychological emergency unit (Samu). From these different positions of observation, the philosopher watches the drifts and dysfunctions specific to the individual and democracy, at a time when, because of the crisis, everyone withdraws into oneself. How to cure this? How to bring back into the heart of the collective? It is these questions that she addresses in her new essay, Les irremplaçables (The Irreplaceable), which follows her reflection begun in The Pathologies of Democracy and The End of Courage.

Why this title, The Irreplaceable, which sends the reader towards a literary fiction horizon?

Literature is much more poweful than philosophy since it does not produce a doctrinaire, frozen discourse. With a title of a novel, I wanted to evoke the story of the self, the creative power of each. An irreplaceable being is indeed someone committing to a process of individuation, in other words in the construction of her or his own destiny. The book is published in the Blanche collection by Gallimard, which outside of fiction, has always been known for a tradition of philosophical existentialism, with Jean-Paul Sartre, Simone de Beauvoir, etc. It meant to invest the theme of irreplaceability in an existential and open way, while philosophical theorizing gives a sense of closure. What was at stake was to enter in a dynamic commitment and to create a responsibility for each of us: how does this individual destiny feed a more collective destiny? This is the essential question.

You enroll in the field of political philosophy; democracy is at the center of your thinking.

Yes, and the irreplaceable, at first, were for me the democrats. If I precisely talk about commitment, it’s because I do not live in the illusion of democratic durability. At a time when fundamentalisms, fascisms and populisms proliferate, how can we protect democracy? How do we make sure that individuals are concerned about preserving the rule of law? I realized that any individual who has not worked to develop a fair individuation will not care about preserving democracy. Self-care and concern for the city are intimately linked.

How?

Individuation and democracy work, I think, like a Möbius strip, as the two faces of the same reality. Of course, the rule of law produces the conditions the emergence of an individual, but it does not last if not revitalized, reinvented, reformed by free subjects. If the rule of law remains only a formal reality, it creates huge disappointments that threaten it. It is therefore necessary that it incarnates, and this body of the rule of law is that of the different individuals it gathers. But in recent years, neoliberalism has distorted the rule of law and disintigrated the subjects. The rule of law signs its death sentence: only a well-individuated subject cares about its preservation, and not the alienated subject we meet today.

“The construction of the rule of law is the adventure of this gap between principles and practice.”

You thus evoke the “entropic” drift of contemporary democracies. What is this about?

In thermodynamics, entropy measures the state of disorder of a system: it grows when it evolves towards an increased disorder. However, for thirty years, western democracies experience dynamics of disguise, delirious and unprecedented merchandising, which makes of us interchangeable, replaceable entities, servicing the “growth” idol. Everyone can experience it, whether in the world of finance, consumption, or ecology, through all these phenomena of capture, extreme rationalization, obscene profitability that do not question either their presuppositions nor their expectations. But the expression of democratic entropy is something else, it refers to the internal disorder of democracy, its dysfunctions that are of its very nature. This, Tocqueville has analyzed it perfectly when he defined democracy this way: good principles, theoretically correct and ethically acceptable, which produce perverse effects. The construction of the rule of law is the adventure of this gap between principles and practice.

Could you give an example?

According to Tocqueville, principles change into passions; thus, the passion of the principle of individuation is individualism. The individualistic subject is passionate about himself, self-centered, withdrawn, intoxicated by the intoxication of the self, while the individuated subject sets up a look at the outside world, unfolds and ensures a base, a foundation, which allows her or him to enter into a relationship with what is surrounding. The adventure of irreplaceability, the path to individuation, thus looks like, in many features, that of depersonalization. It’s not about becoming a personality, to put the ego on stage. On the contrary, the challenge is relational: it is a matter of decentering oneself to bind oneself to others, to the world, to meaning.

How to access this individuation?

To give time for oneself is not easily guaranteed. It is a never-ending requirement. To know oneself and to access the quality of being that one owes to the world, the subject must go through three dynamics of knowledge and behavior, which are as many fire tests: imagination, pain and humor. With the first one, the imaginatio vera, the subject produces a true imagination, which is an “agent”, which creates reality. This faculty of soul and heart, at the border of the sensible world and the intellectual world, has an unheard-of power of creation. In this respect, the imaginary, literary space is really the configuration space of reality; it is in no way avoiding reality, as we sometimes think. The imaginary, literary space allows us to verbalize and understand what reality is. The second faculty, pretium doloris, the price of pain, teaches us that the act of thought has a price and that access to the truth can be a painful experience. The trial of Socrates is the very symbol: knowing and knowing oneself mean being at risk.

What about humor?

The vis comica, the comic force, operates an effect of decentering, of distancing which makes the reflexive consciousness arise. The power of humor allows us to grasp the absurdity of reality, as well as our own inadequacy and shortage. While one discovers the absolute inanity, vanity, stupidity of the subject, one manages nevertheless to do something about it. This is essential for the process of individuation, which is primarily a consciousness of shortage, while individualism, infatuated by its pseudo-omnipotence, has totally forgotten that it was short. Individuation is a test of reality, an access to the truth. It is a saying that is obligatory and does not force, and thus renders the subject faithful to herself or himself, irreplaceable. It is a given word, an effort that the individual deploys to bind oneself to the discourse one states.

The brave, at the center of your essay The End of Courage, was already an irreplaceable subject for you?

Yes, irreducible to others, since the brave does not delegate to others the task of doing what is to be done. In The End of Courage, the reconquest of a democratic virtue, I show how ethics of courage are a way to fight against democratic entropy. This virtue, which brings together ethics and politics, is at the same time a tool for protecting the subject and for regulating societies. In the deep intimacy that the brave subject has with his conscience, there is the quality of a public commitment, for others. One can be alone, even against others, when one makes a courageous act, but this gesture always preserves a quality of connection with the community. In everyday life, to be brave is sometimes to endure, sometimes to break up; it may be leaving a job when you are entangled in a perverse situation. On a more historical level, the spectrum goes from political leaders like Nelson Mandela to whistleblowers today.

“There is no democratic project without an educational project”

Individuation, courage: your research intersects with the individual and the collective, psychoanalysis and political philosophy. How did you become a psychoanalyst?

I first started a psychoanalysis at a rather young age, around the age of 17. I did not think about becoming an analyst at all! Then my work as a teacher-researcher in political philosophy focused on the issue of dysfunctions, especially when I wrote Pretium doloris and The Pathologies of Democracy. Reflecting on the suffering at work and on the actions that sometimes accompany it, I have had to collaborate with occupational physicians and clinicians. I wanted to probe more directly the word of the individual. That’s how I became a psychoanalyst. I started my clinical activity in 2007 and have been receiving patients on a regular basis since 2009. I soon realized that the sessions were dedicated to a discourse about reality, society: work, globalization, terrorism, religions, etc. It was necessary to dig to find a discourse about parents, family.

What role does this activity play in your daily life?

I consult every late afternoons as well as weekends. It’s a decisive part of my work today, and it will come even deeper into my writing in the future. I have the feeling that the research I do in the morning or the teaching in the afternoon, in the evening, I hear it formulated in another way, more clinical, as if philosophy suddenly was endowed of a piece of land, while it usually does not. The democratic entropy we were speaking of, I measure its effects every day as a psychoanalyst: individuals feel discouraged, crushed by the rule of law that would be supposed to protect them. To become aware of it is already to extract oneself from it.

Is being a well-publicized philosopher influencing your work as a psychoanalyst?

This necessarily interferes, with very different results depending on the patients. With those who already know you, a phenomenon of transfer precedes you. But the transfer, the emotional projections that the analysed makes on the analyst, is almost magical … Even if this situation requires readjustments, it can be very efficient because it suddenly gives a kind of speed to the analysis, since all the work was done elsewhere. Conversely, there are those who do not know you outside the confessional field of the session and then rediscover you in a field of social and, there, the reactions are diverse. As we are living in an era in need of recognition, it seems to me rather to help; there is also a phenomenon of transfer – my psychoanalyst being recognized, I feel myself caught up in this sphere of recognition. There are misunderstandings, misapprehensions, but it does not really matter, they are always entry points into the analysis. This is very true for young patients under the age of 18, with whom it is always complicated because, if some come by themselves, others do it because their parents want it.

The end of The irreplaceable is devoted to education. Why ?

There is no democratic project without an educational project, both at family level and the social level. As intimate as it is, linked to the irreplaceable love that unites parents and children, education remains the major public enterprise. In this respect, the time of transmission is a very special time, a stretching time. The teachers are well aware of this: you only have two hours, you feel that it is ridiculous, but, in fact, you switch to another space-time which is a symbolic space. There is a click, the beginning of something; attention, empowerment, emancipation, critical awareness. It is in this space that the first fruits of individuation arise. But do not be deceived: it requires work, discipline. Discipline is not submission that transforms us into a sheep, into a link, into a follower: it is a skill, a technical gesture, a way of being, which makes us freer.

Cynthia Fleury in a few dates
1974: Birth in Paris.
2000: PhD in philosophy on the “metaphysics of the imagination”.
2005: Publishes Les Pathologies de la démocratie – the Pathologies of Democracy.
2010: Researcher at the National Museum of Natural History. Publishes La Fin du courage – The End of Courage.
2013: Member of Comité consultatif national d’éthique – Advisory board of the National Ethics Committee.
Wikipedia page (in French).

To read:
Les Irremplaçables, Gallimard, 218 p. €16,90.
La Fin du courage, Le Livre de poche, 192 p. €6,60.

Fascinating data analyses on start-ups by Sebastian Quintero

I just read about Sebastian Quintero’s data analyses on start-ups on his web site Towards Data Science. Thanks Martin H. 🙂 I was really fascinated about his original way of looking at them, their failure rate, the valuation prediction, their runway between rounds, and his Capital Concentration Index or Investor Cluster Score. You should read them.

Of course, it rang strong bells with all the data analyses I have done in the recent past 8see end of the post if you wish)

So as an appetizer to Quintero‘s work, here are a couple of figures taken from his site…

Dissecting startup failure rates by stage

Predicting a Startup Valuation with Data Science

How much runway should you target between financing rounds?

Introducing the Capital Concentration Index™

Where c is the percentage capital share held by the i-th startup, and N is the total number of startups in the defined set. In general, the CCI approaches zero when a sector consists of a large number of startups with relatively equal levels of capital, and reaches a maximum of 10,000 when a sector’s total invested capital is consolidated in a single company. The CCI increases both as the number of startups in the sector decreases and as the disparity in capital traction between those startups increases.

Introducing the Investor Cluster Score™ — a measure of the signal produced by a startup’s capitalization table

As of my own analysis, here are a couple of links…

My papers on arxiv:
– Are Biotechnology Startups Different? https://arxiv.org/abs/1805.12108
– Equity in Startups https://arxiv.org/abs/1711.00661
– Startups and Stanford University https://arxiv.org/abs/1711.00644

or on SSRN
– Age and Experience of High-tech Entrepreneurs http://dx.doi.org/10.2139/ssrn.2416888
– Serial Entrepreneurs: Are They Better? – A View from Stanford University Alumni http://dx.doi.org/10.2139/ssrn.2416888
– Start-Ups at EPFL. An Analysis of EPFL’s Spin-Offs and Its Entrepreneurial Ecosystems Over 30 Years https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3317131