Joseph Benson-Aruna

Pinned post from November 3, 2023

On opinions and sharing them

I've often refrained from expressing strong opinions, despite having them. With age, I’ve realized that most people struggle to accept differing strong opinions, perhaps due to their definitive nature, which can resemble religious beliefs. Instead of engaging in constructive discussion, many immediately adopt a defensive stance, attack...

October 13, 2024

Investor Updates Are Good For You

Every one of the best founders I’ve worked with or invested in sends regular updates. The cadence doesn’t matter—whether it’s monthly, quarterly, or something else—they make it a habit. Of course, this doesn’t mean those who don’t send updates are bad founders. Many are doing just fine, but they often hesitate to send updates because t...

September 16, 2024

Everyone is doing better than you, and that's okay.

Everyone seems to be doing better than you, and that's okay. As the year wraps up, we’re bombarded with everyone’s highlights and “year in review” posts that can make us feel like our own year was lackluster. I’ll probably do it to you too with my Spotify Wrapped, making it seem like my music taste is superior, and thanks to social med...

June 11, 2024

Some Random Rant on Roads

One of Stephen's favorite icebreakers is the "roads vs electricity" question: which is more important for a developing society? From my observation, it takes most people less than two seconds to form an opinion, usually influenced by where they grew up. For me, the answer is clearly electricity. Growing up on the outskirts of Lagos, el...

May 24, 2024

Adewale Students' Conference

I’ve always hated school, and I’m pretty sure I’m not alone. Many of us just pushed through, doing the work grudgingly and waiting for it to end. Secondary school was the worst. By the time I got to Mayflower, I had all but given up. I simply went through the motions, hanging out with friends and playing five-a-side football. As you ca...

March 4, 2024

On Fintech Costs 101

If there's one thing you should take away from what you're about to read, it's this: always separate transactions from operations. I've reviewed a few fintech financials, and it's frankly astonishing that in 2024, some practises appear reminiscent of those from 2012. Seun and I spend a lot of our time together trying to understand why ...

January 26, 2024

On Not Becoming An Expert

One thing that scares me as a VC is becoming an expert. By their nature the most disruptive ideas almost always make no sense at the start and I fear that by becoming an expert, I'll become blind to the novelty of brilliant ideas when I encounter them. Sometimes the ideas make sense but one can't see how big the market potential is. Ma...

January 3, 2024

On Starting Small

I'm a big advocate for the concept of Minimum Viable Products, or MVPs. My belief is unwavering: the most effective path to success is to begin with manageable steps, to start small and build progressively. In the journey of starting something new, whether it's a business, a project, or any venture, overcoming inertia and analysis para...

December 19, 2023

On Trying to Think Critically

For the longest time, I worried that I didn’t know how to think critically. Not just thinking in the way you might be considering now, but rather making one's own reasoned judgments on a subject, based on observation, reading, and doing, and then articulating one's fundamental ideas on it. You see, critical thinking is typically someth...

December 6, 2023

On Building Regardless of Failure

In American Symphony, a documentary touching on Jon Batiste’s work and life, he says something profound about music: ““What we love about music is not that it sounds good. What we love about music is that it sounds inevitable. It’s playing the thing that we all know is unfolding. Whether we want to accept it or not…” ” Hearing those wo...

November 30, 2023

On Needing Money to Become a Founder

I won't lie to you. Well, I might if the need arises 🤭. But for now, I won’t lie and say money isn’t important. It definitely is. However, what’s even more crucial is starting. And you know what complements starting well? Selling. If I had a dollar for every time a would-be founder told me they haven't launched because they lack funds,...

November 14, 2023

On Wanting to Become a Founder

So you think you want to be a founder? Start your own business? Do things your own way? Yeah? Well, let me tell you what I tell my friends who want to get married: Don't! Like, please kill that thought now and stop reading this. Thanks. Bye. If you're still here, then you like problems, and I'm here for you. Welcome. Many people have b...

November 9, 2023

On Regrets

I've always prided myself on not having regrets. I own every decision I make and move on quite faster than most people. But over the past couple of years, I've started racking up a few—three at this point, to be precise. Two of those are related, and I'd like to touch on them a bit. I regret having to leave Wallets. I don't talk about ...

November 7, 2023

On Being Optimistic About Investing in Africa

I find myself in an increasingly uncomfortable situation at work these days. On one hand, I'm out there trying to convince folks that Africa is a great place to invest in the brilliant talent building potentially great companies that will create wealth for every participant. On the other hand, I've spent more than three decades of my l...