Raphael Kappeler (@KAPPRJ) header
Raphael Kappeler (@KAPPRJ) profile picture

Swiss entrepreneur. Building Reworth in LatAm 🇲🇽🇦🇷🇨🇴🇧🇷. Exploring boring businesses in DACH 🇩🇪🇦🇹🇨🇭. Less state, + freedom, + entrepreneurship 🚀

México
Joined January 2013
Photo by Raphael Kappeler (@KAPPRJ)Photo by Raphael Kappeler (@KAPPRJ)Photo by Raphael Kappeler (@KAPPRJ)Photo by Raphael Kappeler (@KAPPRJ)Photo by Raphael Kappeler (@KAPPRJ)
Raphael Kappeler retweeted
My AI agents found an unmapped Maya site in Mexico, using LiDAR data from a NASA dataset. 72 hours from a random thought on vacation to a reply from Mexico's national archaeology institute. What a time to be alive…
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Raphael Kappeler retweeted
Consumer founders in LatAm: let me take hundreds of millions out of terrible healthcare, poor education and absolute lack of credit. hyper-hyped Consumer companies in SF: behold I’ll let you book restaurants faster
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Raphael Kappeler retweeted
No sé si es percepción mía, pero la verdadera brecha hoy es esta: de un lado, los que producen, emprenden y quieren comerciar en libertad. Del otro, los que quieren cobrar un cheque financiado por los primeros. Ese es el debate hoy. En Brasil, en Argentina, en Europa, US, etc. For dummies.
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Raphael Kappeler retweeted
Suppose that once a week, ten men go out for beer and the bill for all ten comes to £100. If they paid their bill the way we pay our taxes, it would go something like this: The first four men (the poorest) would pay nothing. The fifth would pay £1. The sixth would pay £3. The seventh would pay £7. The eighth would pay £12. The ninth would pay £18. And the tenth man (the richest) would pay £59.  So, that’s what they decided to do. The ten men drank in the bar every week and seemed quite happy with the arrangement until, one day, the owner caused them a little problem. “Since you are all such good customers,” he said, “I’m going to reduce the cost of your weekly beer by £20.” Drinks for the ten men would now cost just £80. The group still wanted to pay their bill the way we pay our taxes. So the first four men were unaffected. They would still drink for free but what about the other six men? The paying customers? How could they divide the £20 windfall so that everyone would get his fair share? They realized that £20 divided by six is £3.33, but if they subtracted that from everybody’s share then not only would the first four men still be drinking for free but the fifth and sixth man would each end up being paid to drink his beer.  So, the bar owner suggested that it would be fairer to reduce each man’s bill by a higher percentage. They decided to follow the principle of the tax system they had been using and he proceeded to work out the amounts he suggested that each should now pay. And so, the fifth man, like the first four, now paid nothing (a 100% saving). The sixth man now paid £2 instead of £3 (a 33% saving). The seventh man now paid £5 instead of £7 (a 28% saving). The eighth man now paid £9 instead of £12 (a 25% saving). The ninth man now paid £14 instead of £18 (a 22% saving). And the tenth man now paid £49 instead of £59 (a 16% saving).  Each of the last six was better off than before with the first four continuing to drink for free.  But, once outside the bar, the men began to compare their savings. “I only got £1 out of the £20 saving,” declared the sixth man. He pointed to the tenth man, “but he got £10!“  “Yeah, that’s right,” exclaimed the fifth man. “I only saved a £1 too. It’s unfair that he got ten times more benefit than me!”  “That’s true!” shouted the seventh man. “Why should he get £10 back, when I only got £2? The wealthy get all the breaks!”  “Wait a minute,” yelled the first four men in unison, “we didn’t get anything at all. This new tax system exploits the poor!” The nine men surrounded the tenth and beat him up.  The next week the tenth man didn’t show up for drinks, so the nine sat down and had their beers without him. But when it came time to pay the bill, they discovered something important – they didn’t have enough money between all of them to pay for even half of the bill!  And that’s how it works. Tax them too much, attack them for being wealthy and they just might not show up anymore. In fact, they might start drinking overseas, where the atmosphere is somewhat friendlier.  For those who understand, no explanation is needed. For those who do not understand, no explanation is possible.
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Raphael Kappeler retweeted
Macron's former Prime Minister, who is candidate at France's next presidential elections, proposes to "build the United States of Europe" 👇 I've been hearing this discourse ever since I was a child, that we cannot compete with the US and China without a strong Europe. Which, granted, makes a lot of sense on paper: if you're to compete against giants, you've got to be a giant yourself. Logical, right? Except, in practice, the exact opposite occurred. Just look at the evolution of relative share of global GDP (visualcapitalist.com/ranked-…): in 1992, the year of the Maastricht treaty (which officially created the EU), the countries making up the EU used to have 28.8% of global GDP which was actually more than the US (25.7%) and China (1.9%) combined! Fast forward to today and both the US and China's shares have grown - in the case of China it's grown considerably - but Europe's share has shrunk to around 17%, the same share as China, losing about 40% of its economic weight in a mere 3 decades. Which means that, very concretely, more Europe - and there has been, treaty after treaty, more and more Europe - has so far meant more and more economic irrelevance. The more we built Europe - this supposed economic giant on paper - the smaller we got economically. And it's not a China story, it's not that simple: if it were, the US's global share of GDP would have shrunk alongside Europe, but it just didn't. Which means it's really a Europe problem. And, unfortunately, it's not just the economy. More Europe has meant more irrelevance and weakness in just about all fields that matter. Take foreign affairs for instance. There used to be a time when Europe's voice mattered in the world - or at least that of the countries making up Europe. When, say, De Gaulle could, in the space of a single year, pull France out of NATO (adst.org/2014/06/france-has-…), ask American troops to leave French soil (humanite.fr/histoire/general…), and then fly to Phnom Penh to tell a packed stadium that the US had no business waging war in Vietnam (en.wikipedia.org/wiki/Phnom_…). Try to picture a single European leader doing even one of those three things today. Heck, in 2009 France got **back** in NATO, a sad illustration that the "strong Europe" we were promised as a counterweight to the US has in practice meant ever deeper subordination to it. It's even written in black and white in the Lisbon Treaty itself (eur-lex.europa.eu/resource.h…), which states that NATO "remains the foundation" of its members' collective defence. So much for the independent giant... Or take another critical dimension of power: technology. The countries of Europe used to sit at the technological frontier: Concorde, Ariane, the TGV, the World Wide Web invented at CERN, etc. A reminder that as late as 2007 a single European company, namely Nokia, sold 4 out of every 10 mobile phones on the planet. Today look at the ASPI Critical Technology Tracker (aspi.org.au/programs/critica…): out of the 74 critical technologies of the future, in how many is any European country in the lead? Answer: not a single one of them. And I'm not even speaking about energy, culture, and a dozen other fields where the story is identical. On energy alone: European companies now pay 2 to 3 times more for their electricity than their American and Chinese competitors, and just last year Brussels pledged to buy $750 billion worth of American energy as part of a trade "deal" for which it received, in exchange, 15% tariffs on its exports. Some giant... Long story short, there is the logic on paper and then there is the logic in practice: when you see that the patient has been getting steadily sicker for 3 decades, and that the doctor's only answer, year after year, is to increase the dose of the very same medicine, at some point you have to question the medicine. Or the doctor. De Gaulle, coming back to him because he was in my view one of the most prescient statesmen we ever produced, saw it coming clear as day: as early as 1962 he warned that a supranational Europe, having dissolved the only entities capable of having a will and a policy of their own - nations - would have no policy at all, and would end up following someone else's. He warned that "there would perhaps be a federator, but he would not be European" (fresques.ina.fr/de-gaulle/fi…). In the same 1962 press conference he also beautifully said that "Dante, Goethe, Chateaubriand belong to all of Europe to the very extent that they were respectively and eminently Italian, German and French. They would not have served Europe much had they been stateless men and had they thought, written in some integrated Esperanto or Volapük." That was his conviction: that Europe's genius is really the sum of its singular geniuses, and that you cannot add them up by melting them down. If you make some sort of soup out of French, Italian, Greek, and Spanish cuisine, all thrown in the same pot, you don't get all the flavors at once. Instead, you've destroyed four of the world's great culinary traditions to produce something no one wants to eat. I'm not anti-European, by the way, and neither was De Gaulle. I do believe - and so did he - that Europe should be a power in its own right. What De Gaulle called a "European Europe": independent of Washington, speaking with its own voice, master of its own destiny. He simply understood that only nations can carry such an ambition, because only nations have a will. Which is the great irony of this whole story: those who claim to want a strong Europe are busy dismantling the only thing that could ever make it one - the sovereignty of nations.
Je propose de bâtir les États-Unis d’Europe.
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Raphael Kappeler retweeted
Sit on any UK commuter train at 7:43am on a Monday and you'll see something that should be more uncomfortable than it is. A carriage of adults in their thirties and forties, standing up shoulder to shoulder, headphones in, eyes locked on the floor or their phones, completely silent. Some of them have been doing this exact journey for 6, 8, 12 years. Nobody is talking, nobody is making eye contact, and everyone has already rehearsed the next 12 hours in their head before the train has even left the station. This is what the country quietly calls 'a good job in the city.'
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Raphael Kappeler retweeted
Bob McGrew has a framework I keep thinking about: in the AI future there are only two jobs. The Lone Genius and the Manager. That's it. Everything else gets absorbed. The Lone Genius is the person sitting alone at a computer, amplified 1000x by AI. One person with taste, vision, and relentless focus who can now do what used to take a team of 50. The Manager is the person who becomes CEO of their own "firm" where most of the employees are AI agents. They define the goals. They decide what matters. They coordinate. The AI does the execution. The Marxists will hear "two jobs" and panic. "What about everyone else?!" But here's what they're missing: AI doesn't shrink these two categories. It explodes them open. More people get to be geniuses. More people get to be managers. The barrier to entry for both just collapsed. What actually gets eliminated? David Graeber called them "bullshit jobs." Graeber was no libertarian! He inspired Occupy Wall Street. His words: "Huge swaths of people spend their entire working lives performing tasks they secretly believe don't really need to be performed. The moral and spiritual damage that comes from this situation is profound. It is a scar across our collective soul." Graeber said bullshit jobs are "a form of spiritual violence directed at the essence of what it means to be a human being." They induce "hopelessness, depression, and self-loathing." This is who the left should be fighting for. Not to preserve those jobs. To liberate people from them and give them better ones. The dirty secret of the modern economy: millions of people sit in roles so pointless that even they can't justify their existence. Compliance layers. Reporting layers. Coordination layers. Meeting-about-the-meeting layers. They know it's meaningless. It eats them alive. AI eats those layers. Good. That's a jailbreak. What I love about Bob's framework is where it points. The Lone Genius used to require a PhD, a lab, institutional backing. Now a 19-year-old with taste and Codex can ship what took a research team a year. The genius bottleneck was never talent. It was access. The Manager used to mean you needed to hire 50 people, raise money, build an org chart. Now you can orchestrate a fleet of AI agents from your laptop. The management bottleneck was never skill. It was capital. AI doesn't concentrate genius and management into fewer hands. It distributes them into more hands. The working class kid in West Virginia. The single mom in Ohio. The 55-year-old who got laid off and now builds software for the first time. Those are some of Bob's future geniuses and managers. The best founders I see at YC are already living this. They toggle between both modes in the same day. Morning: lone genius, creative insight, the thing nobody else sees. Afternoon: manager, spinning up agents, steering, shipping. The cycle time between genius and manager IS the new productivity metric. So when someone tells you AI means "only two jobs and everyone else starves," quote Graeber to them, they’ll get it. Graeber knew the real violence was making people do meaningless work and pretending it was dignity. AI ends that. More genius. More agency. Fewer spiritual prisons.
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Raphael Kappeler retweeted
Kaszek + Anthropic en CDMX, este Jueves. Si estás construyendo algo serio con IA, este es el evento. El equipo de Anthropic va a compartir sus productos, APIs y casos de uso reales, con espacio para Q&A. Cupos muy limitados. Apliquen ahora! luma.com/lralyqn0
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Raphael Kappeler retweeted
Voluntary commitments to AI slowdowns were a nice idea in 2024 when it was plausible that they could be baby steps toward a multilateral agreement that would contain the intelligence explosion. For a variety of reasons this is no longer plausible. Anthropic is doing good here.
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Raphael Kappeler retweeted
I wanted to say a few words about @Tesla and @elonmusk regarding their decision, announced during yesterday's earnings call, to end the production of the Model S and X in Q2 this year. From the start, I have been a giant fan, investor and supporter of Tesla. I was the happy purchaser of the 2008 Roadster and 2012 Model S, both VIN #003. I continue to hold them in pristine condition until one day they go into either the (hopeful!) Tesla Museum or another tech or automotive museum. I still drive my 2010 Roadster and I have owned a number of Model S's and Model X's over the years. As I once told Elon, the Model S (Motortrend's Car of the Year for 2012) goes alongside the PC, Mac, iPad and iPhone as the greatest consumer tech products ever created, in my opinion. I recently upgraded my personal, older Tesla's with 2026 Model S's (Plaid and Long Range) and a 2026 Model X Plaid. They are all the best cars I have ever owned. I did this even knowing that the writing was on the wall that they would be discontinued as the sales numbers were a rounding error compared to the Model 3 and Y. I did buy a 2026 Model Y as well when it came out...it is an excellent car and at the price, a very good value. Over the years, I also subsidized employees across my various organizations with a $7500 credit towards the purchase of a Tesla...and that was on top of the Federal EV credits when they existed. I am proud to have introduced 100s of people to owning Tesla vehicles, especially in the early days when the sales mattered. While I will miss future versions of the S and X, I have no doubt that Tesla will continue to make great cars and the FSD is now amazing, so I have little doubt that whatever package the FSD is wrapped inside, it will be a great experience. Elon always said that Tesla was intended to be more than a car company and today it is already a major player in renewable energy, manufacturing, software and well on its way to being a winner in robotics and whatever future areas of tech hold the most promise. So farewell to the Model S and X, with gratitude for the many years of enjoyment and hello to the future!
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Raphael Kappeler retweeted
1/ El futuro de la tecnología en LatAm tiene retos únicos, pero también oportunidades enormes. 💡 El LatAm Tech Report 2024 de @latitudlatam destaca tendencias clave en fintech, SaaS, e-commerce y AI. Aquí mis reflexiones más importantes para emprendedores e inversores. 🧵👇🏻 latitud.com/latam-tech-repor…
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Raphael Kappeler retweeted
INVESTORS OF LAST RESORT The revelation that Character.ai is speaking with Google about their new financing round, is not surprising in the least. Despite an incredibly engaging product (4M DAUs, with the average user spending 2 hours per day in the product), the company has extremely high burn since they are building their own models (competitive advantage in the long run), monetization is non-existent today (though obviously lots of promising future avenues) and competition is on the horizon as modes switch from text to images and video, and Meta readies its own avatars. It’s impossible for VCs to underwrite a $5B valuation for the company. The only viable investors at this stage for Character are Alphabet, Amazon, Microsoft, NVIDIA (and a handful of other large corporates). They are price insensitive and are driven by completely different considerations (GPU / Cloud / Enterprise customer lock-in) than VCs. As we’ve seen with OpenAI (Microsoft), Anthropic (Google / Amazon), StabilityAI (Intel) , Cohere (NVIDIA / Salesforce), and other cases, any company building their own foundation models will ultimately need to go this route. It’s just far too expensive to train these models, and the ROI / revenue from inference is too far out, for the venture model to support. The OpenAI-Microsoft partnership seems to have paid dividends for both parties, With the proliferation of this model, curious to see the implications of this on exits, future financing rounds, strategic flexibility, and of course, long term commercial success.
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Martes: Los founders de nuestra comunidad aprendieron sobre las mejores prácticas de #fundraising con Helena Polyblank de @SomosMendel, @AgustinF de @fintual y Raphael J. Kappeler @KAPPRJ de Reworth. Estuvo buenísimo! ✨
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La saturación de las comunicaciones es un problema moderno. Es increíble el correo, whatsapp, slack, etc de algunas personas. Esto se resuelve con LLMs. Si alguien está trabajando en un producto para este problema encantado de platicar.
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Raphael Kappeler retweeted
"Life is Short" by Paul Graham. Beautifully written.
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Ayer fue un día apasionante en el foro de #ciencia y #tecnología organizado por la @sremx. Como país invitado, nos unimos a las conversaciones sobre #innovación con 9 #startups y aceleradoras suizas. ¡Una gran oportunidad para conocer nuevas tendencias tecnológicas! #Swisstech
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Raphael Kappeler retweeted
History tells us that even if every company relies on AI, there will be almost no big/successful/important "AI companies"
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Raphael Kappeler retweeted
Many people are comparing today’s market correction to the dot-com collapse in 2000.🤯 I’ve talked to numerous Investors, LPs and Founders who successfully navigated the dot-com collapse and are still around today. Great nuggets of wisdom they shared: 🧵👇
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Raphael Kappeler retweeted
Good summary of why I love building in Latin America. There is a real sense of community. #VamosLatam
VC is *such* an exclusive club in the US - exhibits worst symptoms of aristocracy and incumbency (recent e.g.: Rabois calling hustler solo VC a "third tier VC") This behavior doesn't seem to happen as much in other geos, because everyone wants the whole ecosystem to grow/thrive
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