@asmith
In my last experience interviewing around, I would have liked to have joined the early stage startups even with less salary but none of them were willing to make up for the salary difference with sufficient equity. If youβre under 20 people you need to offer more than .2%
I'm humbled to share I've made Forbes 30 under 30!
Quitting my job at Facebook to starting Meow was a major decision. I canβt believe how far weβve come in these 2 years.
Our goal at Meow is to become the leanest team in history to become worth $100b. And weβre just getting
@MakerDAO
and
@maplefinance
are going to power DeFi this decade.
Both are stand apart as a bridge between the real world and crypto world. Both enable highly efficient credit facilities
Great thread! By delegating credit underwriting to other DeFi protocols specialised in undercollateralized lending and RWA,
@MakerDAO
can position itself as central bank of crypto
@arvanaghi
So many mission statements are approximations of what it takes to serve customers well
Jeff Bezos strips all the BS away to get at what really matters most
@aditishekar
Investors think ghosting preserves more optionality than rejecting
If they ghost and your round gets hot they can hit you with the βsorry I mustβve missed this!β and try to get an allocation
If they reject a co then they lose that option
@paulg
So the answer to your question: google would likely lose very little in revenue since ad spend on branded keyword search would be replaced by competitors.
@paulg
Itβs extremely cheap to bid on ads where you are the top result and basically necessary to make bidding expensive for your would be competitors to snipe clicks
Pro-tip to any new founders
Set up your backoffice webapp with
@theappsmith
* easy to build useful admin tools
* support is excellent
* a fraction of the cost of Retool
@packyM
Not being EVM compatible represents a major headwind for any chain since developing the supporting tooling and software requires much more work
EVM compatible alt-L1s can draft off Ethereum ecosystem support in contrast
@paulg
Iβm convinced that the popularity of real estate as an investment is at least partially driven by the fact that itβs the only leveraged investment the average person will ever make
Thereβs 2.84B of stETH deposited in AAVE with a good amount of that probably leveraged for borrows
With only 309M of ETH in the Curve ETH-stETH pool there is a serious risk of a bank run on stETH to trigger some juicy liquidations
@APompliano
The system Amazon describes is not a crypto currency. But rather a service that requires clients to compute a proof of work in order to use the service. This would disincentivize denial of service attacks, since clients need to burn π° to execute the attack
@twobitidiot
The hardest thing Iβve run into is not actually working nights and weekends but deciding what to work on during that time
Putting that effort into your job is the obvious one but are there better alternatives? Writing, reading, side projects and online classes come to mind
Brandon laid out this exact vision of his career to me almost 10 years ago. His ability to see the future and tenacity to realize it are what sets him apart from anyone else Iβve ever met.
Iβm proud that heβs my co-founder and best friend.
When I graduated college, my plan was:
- Start at a big company (~5,000)
- Then work at a smaller one (~50)
- Then join as an early employee (~8)
- Then start my own
Hereβs why and what I learned along the way:
βYea so you see I bought this digital shoe NFT from a move to earn project called STEPN. As long as I dance to like 20 songs tonight I pay for my table. You here for the bitcoin conference?β
^^ live look at the Miami clubs tonight
Founders think about spending money like itβs their own money
Big businesses think about spending money like itβs their budget
And that's how DocuSign has 30,000 employees
Thinking of raising money?
Make sure your business model is the kind a venture capitalist loves
Here are 3 business models VCs love (and why they love them)
@sarthakgh
Chesa: my department doesnβt have enough resources, other departments have tremendous challenges, police wonβt arrest criminals
Other person: so youβre saying the system is broken
Chesa: thatβs a gross mischaracterization of what I just said
A major reason Facebook shops failed.
When I was building it, I tried to talk to the customer support team and was told engineers were explicitly banned from doing direct customer support or working on improvements to the customer support process.
Was dumbfounding.
No one at a company is too senior to care about individual customers or product details. Those are the things that make a company work, and if leaders stop caring everyone else will too.
@packyM
Not impossible to overcome, just requires more capital investment by supportive VCs.
Solana ecosystem has major VC support for example so could stay competitive tooling wise
@ErikVoorhees
A fractional reserve bank converts its reserves into assets in the form of loaning that money. It sounds like Bitfinex drained itβs reaerves to cover expenses, that makes a HUGE difference on their balance sheet
@cz_binance
For those that are curious as to how Binance is offering such a high yield, they are basically using the crypto you lend them as collateral in their margin pools which they can lend back out at an even higher interest rate
@auren
What's interesting to me is that an outsider can more easily trick an insider with surface level traits (credentials, clothes)
Whereas an insider will almost always appear phony when trying to signal to true outsiders (burning man, canned counterculture)
@sweatystartup
Seems more efficient than individuals driving their car (since most neighborhood arenβt walkable) to the store for a one off item.
Amazon at least batches the activity
@MacaesBruno
βUnthinkableβ because they donβt have freedom of speech. Dissident journalism intrinsically proves the existence of US core values and has been a staple of American life for anyone that knows history
Good founders typically have competencies across 2 or 3 major facets of business be it product, sales, engineering, recruiting etc.
The reason we have co-founders is so those 2-3 competencies turn into 4-5
Outsized marketing spend is a big red flag for crypto exchanges.
Insinuates the goal isn't to drive trading volume, but deposit volume (keep the ponzi alive)
FTX followed this pattern, obviously. Some others seem to as well...
Online ads are the internet's way of supporting micropayments without legacy payment rails
Many would pay $.03 to avoid watching an ad before a youtube video but current technology can't support such a solution
A number of founders getting into AI will probably underestimate how strong one needs to be at math to make it effective
Dalle-2 and other deep learning based models (read ez to tune) require insane amounts of data and >$100k in compute costs to train. Not viable for small cos
@AriDavidPaul
Coding shrinking as a profession necessarily means that there is a cap on productive software that can exist
Building software has only gotten easier over time and yet there is more software now than ever. AI aided development will simply enable more people to become engineers
NEW: Ramp x
@JoinMeow
π€
Proud to announce our new partnership with Meow.
We're both here to save you money, whether that's killing duplicate spend or finding untapped yield & interest for the cash in your bank account:
Gemini is proud to now offer Stop-Limit orders β
You can place buy or sell Stop-Limit orders on all order books using the Gemini ActiveTraderβ’οΈ interface, as well as our REST and FIX order entry APIs.
Read all about how Stop-Limits work on our blog:
Something really interesting is happening on
@AaveAave
right now.
The utilization rate for the Ampleforth $AMPL has hit 100%
This means depositors of aAMPL can no longer redeem deposit tokens for the underlying AMPL (1/n)
ChatGPT has been extremely useful as a tool to navigate technical documentation.
For example I prompted it to "Imagine you are an expert in Appsmith and understand all of their documentation"
and subsequently can query summaries of various workflows without having to read docs
Debt markets for startups is as clear as mud.
β’ Why do startups use debt?
β’ What are common terms?
β’ How is the market different post-SVB?
Well, we got the answers.
July 19th. 2 pm EST.
Join us for a workshop with Upper90:
@hosseeb
This issue exposes a major vulnerability for a DEX. DEX traders assume all counterparts risk of a double spend attack. Centralized exchange users are shielded by counterparty risk via they exchange they use
Pretty much convinced that company's pace of customer learning drops 10x the day a management layer is inserted between ICs and the founders
Software and AI are going to extend the time companies can spend in learning mode before scale gets away from them
Startups are obviously not the same as the military, but I believe this new era of building companies will feature CEOs who want to change the world with "Seal Team 6" (tight, small, elite company) rather than "The Navy" (lots of headcount, bureaucracy).
AI and other tools will
@brandon
@meow
Donβt be too humble
@brandon
youβve put together a masterclass in building a scale up in my absence.
Wouldnβt want to found a company with anybody else
Guessing strategy is
1. Finance tender offer, buy back GBTC at 20-40% discount to NAV
2. File for Reg-M relief and open redemptions.
3. Sell off GBTC bought with tender offer for quick gain and plug the Genesis hole
@ecgenc
@packyM
Ease of development leads to more efficient development so if Near is simple to build on then that helps it.
Still Near must build all its own tooling separate from the EVM ecosystem. Major headwind compared to AVAX or FTM or rollups that get Ethereum ecosystem tooling for free
Pretty huge. Overcollateralized borrowers are net creditors to their counterparty. Dropping rehypothecation goes a long way to reducing risk for borrowers
@tottinge
If these are the kind of rabbit holes your dev team is going down to add a feature then STOP π you have too much tech debt to continue effectively
Make an effort to decouple and isolate components, create more robust interfaces. Itβs not supposed to be this hard
#1
most important thing for startups has to be product velocity and listening to feedback from the customers.
Today:
10:46am - Me: Feedback
10:53am -
@JoinMeow
: We will look into this and get back to you
10:58am -
@JoinMeow
/
@arvanaghi
: We will deploy before EOD
Me: π€―