🚀 Is getting an MBA worth it?
Plus, a new feature to unsend texts...
🍎 WWDC updates. Apple hosted its annual developer conference this week, bringing a slate of new product announcements! The highlights?
A new operating system, iOS 16, is coming - and it will have the ability to edit or recall texts 👀
Apple Pay is adding BNPL, allowing shoppers to pay for purchases in four installments with no interest
New MacBooks, which will come with a M2 chipset that is 18% faster (on a CPU basis) than the M1
🚢 Flexport gets a new CEO. Ryan Petersen, CEO of global logistics co Flexport, is transitioning into an executive chairman role - and welcoming a new chief executive, Dave Clark. Clark was formerly the head of Amazon’s worldwide consumer division. Petersen tweeted that the only fear he has for Flexport is “that we’re not living up to our potential,” and he feels bringing in Clark’s skillset can “make Flexport the best supply chain company in the world.” Flexport has raised $2.3B in VC funding.
👮 Identity theft marketplace gets shut down. The FBI, DoJ, and IRS teamed up this week to take down SSNDOB, a marketplace for trading Social Security numbers, credit card numbers, and other personal information taken from over 24 million Americans. The site has reportedly been active since 2013, and had generated $19M in revenue. A report from security company Chainalysis estimated the marketplace had received $22M in bitcoin since 2015, across 100k+ transactions.
👗 StitchFix and RTR report earnings. This week brought earnings from two fashion tech companies - StitchFix and Rent the Runway. StitchFix reported a 5% drop in active clients and an 8% drop in revenue YoY, and is laying off 15% of its salaried workforce. The decline is largely attributed to a return to in-store shopping that has depressed user growth, as well as rising expenses. Rent the Runway, on the other hand, outperformed expectations - subscribers grew 82% YoY and revenue doubled as consumers return to IRL events.
what we’re following 👀
YC announced that it will be returning to an IRL program.
Sound Ventures launched a Father’s Day Shop (with Canal!) for last minute gifts.
Spotify is getting into the audiobook business.
LA founders & investors - fill out this form to join IRL events with the a16z team!
I’m a business school graduate! Now that I’m officially done with the degree, I’m ready to answer a question I get all the time: “Is an MBA really worth it?”
I understand the skepticism - MBA programs are expensive, in both the actual money you pay and the opportunity cost of your time. Taking two years off of full-time work isn’t a decision you should make lightly. And the value of an MBA seems increasingly unclear when many careers no longer require it to move up the ranks.
There are countless resources on all of the reasons why getting an MBA isn’t worth it - and for some people, that may be true! However, after two years at the Stanford GSB, I’ve seen a number of classmates recognize massive benefits from coming to business school. Here’s a few scenarios in which getting an MBA might pay off:
🔀 You’re looking to make a pivot. I’ve tweeted about this before - I think business school is one of the best possible places to make a career pivot. You get two years to talk to people with experience in every industry (classmates, guest speakers, alums), hear about what they do on a daily basis, and leverage their connections to explore new roles. Depending on the extent to which you pay attention in class, you may even learn new skills 😂. It’s also a valuable opportunity to be an intern again and try a new role without a FT commitment.
🚀 You want to start a company. This one is truly a ~hot take~, but I think that business school can be very useful for future founders! Again, it gives you time and space to explore future ideas without committing to one thing. You can leverage your “.edu” email to get access to experts, tap into grants or other resources that your school provides, and may even find a co-founder among your classmates. It’s also hard to deny that going to a top business school may give you a leg up in fundraising (similar to going through a program like YC).
🌟 You’d benefit from a “signal of quality.” Like it or hate it, people make pre-existing judgments about others based on where they’ve worked and went to school. If you didn’t go to a prestigious undergrad or spent your career in a non-traditional industry (or geography), the “signal” an MBA provides may help you. It’s not only about getting admitted to a competitive program, it’s also about what you gain there - employers will assume you’re graduating with a baseline knowledge about business and a valuable network.
🌴 You want a break. Business school is as intense as you make it, which means that it can be a two-year vacation if that’s what you’re looking for! I see this quite frequently among people who are coming from PE, banking, or consulting - they want some time to rest and recharge before deciding what to do next. Business school also provides a great opportunity to meet new friends and travel internationally.
That’s it from me! I hope you enjoyed my unsolicited rant about business school. It’s certainly not for everyone, but I don’t think it deserves the bad rap it has in many circles today. If you have particularly strong feelings about MBAs, feel free to tweet me @venturetwins (I may regret this…)
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puppy of the week 🐶
Meet Luna and Nali, two Eurasier sisters who live in Wisconsin. Eurasiers are a spitz type breed of dog that originated in Germany.
They enjoy playing at the beach, helping plant things in their garden, and watching birds and squirrels.
Follow them on Instagram @luna.nali_the.eurasiers!
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