From the Investors

Angel Investor Jason Calacanis publishes his letter to syndicates on the pace of the market and sets expectations for the next 18 months in “Private Email to My AngelList Syndicates”

Brad Feld of Foundry Group knows that success is the best revenge in “What Should You Do When Someone Rips Off Your Site Design”

Tren Griffin of Microsoft expands on lessons on product-market fit, disruptive tech, and Groucho Marx in “A Dozen Things I’ve Learned from Andy Rachleff” — “Instead of starting with the market and then finding the product, the really big winners start with a product and find a market.”

Zack Mansfield of Square 1 Bank reflects on his year as a board member and wonders what happened to his once-detailed note-taking in “Looking Back and Learning”

Sam Altman of Y Combinator grows his team with some familiar and soon-to-be familiar faces in “Welcome Scott, Dalton, Adora, Brett, Nicole, Alexis, and Qasar”

Fred Wilson of Union Square Ventures delivers a talk at NYU on how bitcoin and crowdfunding could revolutionize philanthropy in “My Talk on Bitcoin, Crowdfunding, and Charitable Giving”

From the Operators

Rohin Dhar of Priceonomics evaluates Sequoia’s willingness to double down on investments as one reason for its success in “The Big Winner from Y Combinator’s Success? Sequoia Capital”

Sacha Greif of Folyo plots out the biggest leaps one can take to get into startups in “The Product Spectrum”

Fred Stevens-Smith of Rainforest doesn’t give a hoot what you think about the market in “What a Bubble Isn’t”

Paul Ferrett of AIMS Pro begs you not to sacrifice basic UI functionality for clicks in “Designers: Don’t Cover What I’m Looking At!”