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Kamui Whisky K.K. Newsletter

Drawing the Perfect Owl

Or: why Japanese startups continue to fail expectations.

Casey Wahl's avatar
Casey Wahl
Jan 31, 2026
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There’s a meme that made the rounds in startup circles more than a decade ago, closer to when I first became a founder1:

Step one: Draw two circles.

Step two: Draw the rest of the fucking owl.

It resonates because it’s absurd - the gap between those two steps contains everything that matters - and it’s funny because it is so true. But here in Japan, especially out here on Rishiri Island, that gap isn’t a punchline. It’s where startups stop growing, and, occasionally, die.

The Japanese government wants startups to become unicorns. Tokyo VCs want founders to build global companies. Everyone’s gathered around, waiting for you to draw a beautiful owl. And all you know how to do is make two circles.

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