April & May ‘24 recap

April and May were busy months, so I combined the monthly recaps here:

Articles:

1. How Mexico’s cartels infiltrated the tortilla business | Washington Post

   • Long, but good read, especially ahead of the Mexican elections this weekend. Some stats that caught my eye:

     • Latin America is producing more than twice as much cocaine as it did a decade ago. Nearly every one of its mainland nations has become a major producer or mover of the drug, feeding booming markets in the United States, Europe and South America.

     • At least 15 percent of tortillerías — about 20,000 storefront businesses — are regularly extorted, according to the National Tortilla Council

     • While solid data is scarce, revenue from the array of illicit activities could rival the estimated $12 billion Mexican cartels rake in every year from drug sales. In one area alone — stolen and contraband fuel — the government estimates it’s losing about $5 billion a year.

2. Big Winners and Bold Concentration: Unveiling the Secret Portfolio Returns of Leading Venture Funds | Jason Shuman

   • A study on good vs. great VC funds and why following on to your biggest winners is so important

3. OpenLP thread on first time managers raising a second fund

   • It’s never been harder for sophomore fund managers to raise their second fund. Only 13% of first time fund managers are able to raise a second fund today, versus a historical average of 60%+

4. How a global seafood giant broke Red Lobster | Nathaniel Meyersohn

   • The story of the fall of Red Lobster almost seems like it’s fiction. This thread gives a short version of the story

5. What can we do about water | Chris Dowd

   • 40% of the global population lives in water-stressed areas. Collab fund talks about the problems and opportunities to invest in water globally.

6. Donald Trump Found Guilty on All 34 Counts in New York Hush-Money Case | WSJ

   • On May 30, Trump was found guilty of all 34 counts in his New York case. While he’s now a felon, and could face jail time, he’s still leading the polls ahead of this years November election.

Podcasts:

1. The three body problem of venture capital w/ Frank Rotman | Origins

   • QED’s Frank Rotman talking about the venture ecosystem today and what makes an efficient ecosystem

2. México: las elecciones más grandes, la campaña más letal | El hilo (in spanish)

   • Mexican elections are this weekend Claudia Sheinbaum of the Morena party is leading in most polls. In addition to the presidential vote, voters across Mexico are also voting on 20,000+ local and state positions. This podcast talks about how deadly this year’s elections have been, where 30+ candidates have been assassinated to date.

3. Matt Oberhardt on Backchannels, MOC interviews, and exec recruiting in 2024 | HR Heretics

   • Matt Oberhardt, partner at a16z, talks about a bunch of different People topics, and how he runs a16z’s Talent group.