It’s only January and it’s already obvious DTC is going to be huge for game developers in 2024.
Excited to introduce Stash. We’re building your next direct-to-player platform so you can finally own the relationships with your users.
Check us out:
My first company
@twitch
sold for a billion dollars.
My second one lost $75 million in 36 months.
People love talking about success, but today I'm going to talk about failure.
It's time to be honest about Atrium:
In every startup, you need:
- Someone who always wants to get shit done
- Someone who obsesses over numbers
- Someone who is honest about shit that doesn't work
- Someone who is eternally optimistic
SEC should investigate the following:
1. Did Citadel’s hedge funds (Citadel Global Equities and Citadel Wellington) hold any short positions in stocks heavily owned by Robinhood users? And did they increase them in the past few days?
3. Subpoena all emails and phone calls between the Wall Street banks and Robinhood (Robinhood gives its shares to Wall Street banks to lend out to hedge fund clients to short through prime brokerage).
10 months ago we shut down Atrium after raising $75m in venture capital. Anyone hearing that knows I made tons of mistakes along the way. Someone asked me today what my biggest lessons learned were. Here they are:
NFTs are a better business model for games.
Many gamers seem to be raging hard against game studios selling NFTs.
But NFTs are also better for players.
Here’s why I think blockchain games will be the predominant business model in gaming in ten years.
You are sabotaging your own personal and professional growth if you're not finding time to read.
These are the books that changed my life, and what I learned from them:
I’ve decided to quit drinking alcohol permanently. This will be a tough challenge for me: drinking has been a big part of my identity since I was in high school. Unfortunately it's also been an unhealthy way to avoid being fully in touch with my emotions & my experience of life.
Buddha once said everyone would experience 10,000 joys and 10,000 sorrows in their lifetime. Start a startup to get the 10,000 sorrows out of the way first.
Everyone says they love learning, but learning is mostly struggling and failing until you finally figure something out.
If you want to grow you have to accept pain.
When you have something you want to do in your life: Just fucking do it. Don’t second guess yourself, don’t overthink it. Go with your instincts and have a bias to action.
Here’s how to build a company (or really do anything challenging) while being happy:
1/ Realize that if you achieve your goal, you actually won’t be any happier than you are right now. This is easy to say but hard to do. Set a reminder to meditate on this every day.
It’s almost 3 p.m. Time to turn off major appliances, set the thermostat to 78 degrees (or use a fan instead), turn off excess lights and unplug any appliances you’re not using.
We need every Californian to help conserve energy. Please do your part.
#FlexAlert
4. Subpoena all emails and communications between the hedge funds who were taking huge losses who are investors in Robinhood (example: D1 Capital. D1 was down $4bn on its shorts and only has $200mn investment in Robinhood.
During today's short ladder...
•There was 443k shares sold in a single batch at $120 at 11:24:36 AM EST.
• There was 347k shares sold in a single batch at $140 at 11:19:09 AM EST.
Someone took a total loss of $300M from the price an hour prior OR that is a $100M short sale.
It’s 2013.
I’m running a failing services company into the ground, binge-drinking daily, and suffering from severe anxiety and depression.
If you have ever felt like you’re drowning, keep reading:
It took me a long time to learn that happiness is something you can train yourself to become better at it. It just takes some dedication, practice and persistence.
These habits have helped me become a much happier person:
Thank you to all the clients, investors, and Atrium team members who took a swing. Things didn't work out as planned and that is my responsibility. We took a swing at something big and you all have my admiration and gratitude.
At the end of every meeting, create a feedback google doc. Use this template:
[name]
Like:
Wish That:
Share with every attendee and have them spend the last 5 minutes of the meeting filling it out live together. You will learn a lot.
Make this part of your company culture.
There’s no hack to being happy. Happiness isn’t an on/off switch. “If I finally get X, I’ll be happy” is a lie.
Like fitness, happiness is built over time through practice. Practice is gratitude, connection to people around you, compassion. You can change your baseline.
If you quit because you found a new passion or purpose, fine. But don’t quit because you are scared or stressed and running away. And don’t lie to yourself about the reason either.
The two most important qualities in a founder are self-awareness and a growth mindset.
Self-awareness = knowing what you need to improve
Growth mindset = you can improve anything
One of the reasons people have told me they’ve quit their daily gratitude journal is because it feels repetitive after a while.
It’s a fallacy of our modern society that we only value the new and exciting. It’s great to be thankful for the same things every day.
1/ If you don’t have product-market fit, your startup is fucked. You probably don’t have it if:
You aren’t growing
You have high churn
Your product is hard to sell
Customers don’t seem to care that much
Here are some simple steps to find product-market fit
I never thought that I would ever be a founder again.
Well...l'm back.
I’ve spent a lot of my career connecting games, creators, and gamers.
@Twitch
is already a big part of the metaverse.
@fractalwagmi
is the next step.
[thread]
If true, actions like these should be a financial crime. SEC/Congress should be investigating. Everyone fighting against brokerages restricting stocks to help hedge funds is on the right side of justice.
1/ Actually I’ve learned a lot from
@ROWGHANI
that’s worth sharing.
First, your job as CEO is to: make sure there’s $ in the bank, define the company’s mission, hire the senior team, and do maybe one thing you enjoy (sales, product, etc)
It’s been a wild ten years for me. Here’s a bunch of things I’ve learned in the last decade:
Things that seem disastrous at the time can happen for a reason.
Some of my most important learnings came from failures that I thought were the end of the world in the moment.
Someone should create an institute that publishes postmortems on laws passed. I.e. 5 years in, here is what the legislators promised would happen, and here is what happened. And then ruthlessly call out lawmakers that passed laws with negative unintended consequences.
If something is important to you, make time for it. If you don't make time for it, it probably isn't important to you. Your actions are your prioritization.
Stop excusing yourself for being bad at things. You can be good at anything you are willing to set your mind to and practice (a lot).
“I’m just not good at X” means “I don’t care enough to become good at X”.
A few weeks I wrote out what I've been doing to improve my baseline happiness. I originally wrote it to send only to personal friends. Some of them encouraged me to share it publicly. I hope its useful to some of you!
Today is my 101st day alcohol free, which is officially the longest stretch since high school.
I’ve been feeling great - I’ve been able to meditate and workout every day, have more energy during the day, and been able to get in touch with my full range of emotions.
The 5% Rule:
Most people out there probably only know a little bit more than you.
You only need to know 5% more than someone on a topic to sound like an expert.
Adopt an attitude of taking 100% responsibility for your life at home and at work. Not for others’ sake but for your own: feeling like things are happening *to* you and not because of your choices will make you miserable.
I used to think as an entrepreneur everything I’d got I’d earned.
More recently I’ve realized there was a huge amount of infrastructure set up for me to make it (educated workforce, execs, the internet) and I really controlled a much smaller % of the outcome than I’d thought.
What is the point of keeping the Bay Area locked down until June? What are we going to get in another month?
Unless we are willing to lockdown until there is a vaccine (18 months), it seems to me that we are continuing to put economic hardship on people for nothing...
Habits can be brutal. I’ve spent the majority of life battling bad ones: including wrestling with alcohol addition for 20+ years.
I learned how to hack habits with help from
@JamesClear
’s book Atomic Habits. Here’s a summary of what worked for me:
I thought I was invincible but the truth is we are all just fragile bags of water. Life is a passing dream. You can wake up at any time. Be grateful for every moment you have.