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KYCombinator - Thoroughbred Framework
Deep Work Enclave
Hello Fellow Explorers!
Louisville needs more entrepreneurship (and economic growth). The answer is not more rhetoric but strategy and action. The Thoroughbred Framework is a way of modeling the landscape. The Deep Work Enclave is an alternative solution (there are no silver bullets).
We model the Deep Work Enclave after Brickyard in Chattanooga. I just spoke with Matt, GP at Brickyard. A lot of struggles of Chattanooga are similar to the challenges of Louisville. Similarly we can copy the solution. Matt gave a great 30 min recap of his thesis, business model and framework. You can view the interview here.
The Thoroughbred Framework
Thoroughbred are high function startup founders. They have a “higher” probability of a unicorn startup. They are the ones creating “unicorns”, vs “small businesses”. They scale quickly.
This is self explanatory
Current Situation
Louisville (and Kentucky) targets “entrepreneurship”. This vague term lumps both Lifestyle Founders and Thoroughbreds together. There are an order of magnitude more lifestyle founders than thoroughbreds. Metrics of success are early funnel and therefore select for lifestyle founders. Metrics include: “number of businesses started”, “number of workshop attendees”, “size of e-mail list”, “number of engagements”.
We (Louisville & Kentucky), think that if we optimize early funnel metrics, this will increase our likelihood of later funnel (i.e. Series A & IPO etc..). This is flawed thinking. This optimizes for a local maxima. The results speak for themselves…how has the last 10/20/40 years been?
“This is not working”
Alternative Strategy
Given the framework, an alternative strategy is to focus on Thoroughbreds. There are two methods for getting Thoroughbreds.
Create - we train more thoroughbred (via skills)
Import - we import them from other geographies
Put differently, if this were the UofL football team do we recruit only Louisville area football players or do we attract and recruit the best football players?
The alternative strategy is to:
Focus on thoroughbreds
Import thoroughbreds
Focus on surrounding thoroughbreds with their needs:
high skill individuals to work at their startup and
high work ethic individuals to work at their startup
The shaded area is the new ecosystem
Write up here
Deep Work Enclave
The Deep Work Enclave is one of our proposed solutions for importing talent. Check out my interview with Brickyard or look at their Fund and portfolio….THEY have had 10 YCombinator companies in the last 4 years….
Conclusion
I’m reading Why Nations Fail. The authors won the 2024 Nobel Prize in Economics. A theme in the book is that countries were aware of innovations and technological progress…but did not have the incentives or desire to implement.
Similarly for Louisville, we need to attract talent. Other places have shown us the way. Let’s start executing.
LOUIE AL GAIB!
Best of Luck Fellow Explorers!