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Twenty Thousand Leagues under the Sea by Jules Verne, is part of the HackerNoon Books Series. You can jump to any chapter in this book . AT A VENTURE here CHAPTER V: AT A VENTURE The voyage of the was for a long time marked by no special incident. But one circumstance happened which showed the wonderful dexterity of Ned Land, and proved what confidence we might place in him. Abraham Lincoln The 30th of June, the frigate spoke some American whalers, from whom we learned that they knew nothing about the narwhal. But one of them, the captain of the , knowing that Ned Land had shipped on board the , begged for his help in chasing a whale they had in sight. Commander Farragut, desirous of seeing Ned Land at work, gave him permission to go on board the . And fate served our Canadian so well that, instead of one whale, he harpooned two with a double blow, striking one straight to the heart, and catching the other after some minutes’ pursuit. Monroe Abraham Lincoln Monroe Decidedly, if the monster ever had to do with Ned Land’s harpoon, I would not bet in its favour. The frigate skirted the south-east coast of America with great rapidity. The 3rd of July we were at the opening of the Straits of Magellan, level with Cape Vierges. But Commander Farragut would not take a tortuous passage, but doubled Cape Horn. The ship’s crew agreed with him. And certainly it was possible that they might meet the narwhal in this narrow pass. Many of the sailors affirmed that the monster could not pass there, “that he was too big for that!” The 6th of July, about three o’clock in the afternoon, the , at fifteen miles to the south, doubled the solitary island, this lost rock at the extremity of the American continent, to which some Dutch sailors gave the name of their native town, Cape Horn. The course was taken towards the north-west, and the next day the screw of the frigate was at last beating the waters of the Pacific. Abraham Lincoln “Keep your eyes open!” called out the sailors. And they were opened widely. Both eyes and glasses, a little dazzled, it is true, by the prospect of two thousand dollars, had not an instant’s repose. Day and night they watched the surface of the ocean, and even nyctalopes, whose faculty of seeing in the darkness multiplies their chances a hundredfold, would have had enough to do to gain the prize. I myself, for whom money had no charms, was not the least attentive on board. Giving but few minutes to my meals, but a few hours to sleep, indifferent to either rain or sunshine, I did not leave the poop of the vessel. Now leaning on the netting of the forecastle, now on the taffrail, I devoured with eagerness the soft foam which whitened the sea as far as the eye could reach; and how often have I shared the emotion of the majority of the crew, when some capricious whale raised its black back above the waves! The poop of the vessel was crowded in a moment. The cabins poured forth a torrent of sailors and officers, each with heaving breast and troubled eye watching the course of the cetacean. I looked and looked, till I was nearly blind, whilst Conseil, always phlegmatic, kept repeating in a calm voice: “If, sir, you would not squint so much, you would see better!” But vain excitement! The checked its speed and made for the animal signalled, a simple whale, or common cachalot, which soon disappeared amidst a storm of execration. Abraham Lincoln But the weather was good. The voyage was being accomplished under the most favourable auspices. It was then the bad season in Australia, the July of that zone corresponding to our January in Europe, but the sea was beautiful and easily scanned round a vast circumference. The 20th of July, the tropic of Capricorn was cut by 105° of longitude, and the 27th of the same month we crossed the equator on the 110th meridian. This passed, the frigate took a more decided westerly direction, and scoured the central waters of the Pacific. Commander Farragut thought, and with reason, that it was better to remain in deep water, and keep clear of continents or islands, which the beast itself seemed to shun (perhaps because there was not enough water for him! suggested the greater part of the crew). The frigate passed at some distance from the Marquesas and the Sandwich Islands, crossed the tropic of Cancer, and made for the China Seas. We were on the theatre of the last diversions of the monster: and, to say truth, we no longer on board. Hearts palpitated, fearfully preparing themselves for future incurable aneurism. The entire ship’s crew were undergoing a nervous excitement, of which I can give no idea: they could not eat, they could not sleep—twenty times a day, a misconception or an optical illusion of some sailor seated on the taffrail, would cause dreadful perspirations, and these emotions, twenty times repeated, kept us in a state of excitement so violent that a reaction was unavoidable. lived And truly, reaction soon showed itself. For three months, during which a day seemed an age, the furrowed all the waters of the Northern Pacific, running at whales, making sharp deviations from her course, veering suddenly from one tack to another, stopping suddenly, putting on steam, and backing ever and anon at the risk of deranging her machinery, and not one point of the Japanese or American coast was left unexplored. Abraham Lincoln The warmest partisans of the enterprise now became its most ardent detractors. Reaction mounted from the crew to the captain himself, and certainly, had it not been for resolute determination on the part of Captain Farragut, the frigate would have headed due southward. This useless search could not last much longer. The had nothing to reproach herself with, she had done her best to succeed. Never had an American ship’s crew shown more zeal or patience; its failure could not be placed to their charge—there remained nothing but to return. Abraham Lincoln This was represented to the commander. The sailors could not hide their discontent, and the service suffered. I will not say there was a mutiny on board, but after a reasonable period of obstinacy, Captain Farragut (as Columbus did) asked for three days’ patience. If in three days the monster did not appear, the man at the helm should give three turns of the wheel, and the would make for the European seas. Abraham Lincoln This promise was made on the 2nd of November. It had the effect of rallying the ship’s crew. The ocean was watched with renewed attention. Each one wished for a last glance in which to sum up his remembrance. Glasses were used with feverish activity. It was a grand defiance given to the giant narwhal, and he could scarcely fail to answer the summons and “appear.” Two days passed, the steam was at half pressure; a thousand schemes were tried to attract the attention and stimulate the apathy of the animal in case it should be met in those parts. Large quantities of bacon were trailed in the wake of the ship, to the great satisfaction (I must say) of the sharks. Small craft radiated in all directions round the as she lay to, and did not leave a spot of the sea unexplored. But the night of the 4th of November arrived without the unveiling of this submarine mystery. Abraham Lincoln The next day, the 5th of November, at twelve, the delay would (morally speaking) expire; after that time, Commander Farragut, faithful to his promise, was to turn the course to the south-east and abandon for ever the northern regions of the Pacific. The frigate was then in 31° 15′ north latitude and 136° 42′ east longitude. The coast of Japan still remained less than two hundred miles to leeward. Night was approaching. They had just struck eight bells; large clouds veiled the face of the moon, then in its first quarter. The sea undulated peaceably under the stern of the vessel. At that moment I was leaning forward on the starboard netting. Conseil, standing near me, was looking straight before him. The crew, perched in the ratlines, examined the horizon, which contracted and darkened by degrees. Officers with their night glasses scoured the growing darkness; sometimes the ocean sparkled under the rays of the moon, which darted between two clouds, then all trace of light was lost in the darkness. In looking at Conseil, I could see he was undergoing a little of the general influence. At least I thought so. Perhaps for the first time his nerves vibrated to a sentiment of curiosity. “Come, Conseil,” said I, “this is the last chance of pocketing the two thousand dollars.” “May I be permitted to say, sir,” replied Conseil, “that I never reckoned on getting the prize; and, had the government of the Union offered a hundred thousand dollars, it would have been none the poorer.” “You are right, Conseil. It is a foolish affair after all, and one upon which we entered too lightly. What time lost, what useless emotions! We should have been back in France six months ago.” “In your little room, sir,” replied Conseil, “and in your museum, sir, and I should have already classed all your fossils, sir. And the Babiroussa would have been installed in its cage in the Jardin des Plantes, and have drawn all the curious people of the capital!” “As you say, Conseil. I fancy we shall run a fair chance of being laughed at for our pains.” “That’s tolerably certain,” replied Conseil, quietly; “I think they will make fun of you, sir. And, must I say it?” “Go on, my good friend.” “Well, sir, you will only get your deserts.” “ Indeed!” “When one has the honour of being a savant as you are, sir, one should not expose one’s self to——” Conseil had not time to finish his compliment. In the midst of general silence a voice had just been heard. It was the voice of Ned Land shouting— “Look out there! The very thing we are looking for—on our weather beam!” About HackerNoon Book Series: We bring you the most important technical, scientific, and insightful public domain books. This book is part of the public domain. Jules Verne (1994). Twenty Thousand Leagues under the Sea. Urbana, Illinois: Project Gutenberg. Retrieved October 2022 https://www.gutenberg.org/files/164/164-h/164-h.htm This eBook is for the use of anyone anywhere at no cost and with almost no restrictions whatsoever. You may copy it, give it away or re-use it under the terms of the Project Gutenberg License included with this eBook or online at , located at . www.gutenberg.org https://www.gutenberg.org/policy/license.html

AT A VENTURE

The following is adapted from Viva the Entrepreneur . When you are searching for the right venture capital fund, there are a lot of factors that can go into deciding which fund to choose. Naturally, most first-time founders are dying to get any investor on board, let alone vetting multiple options. They feel like they can’t be too picky or aggressive. But that is not necessarily the case. Even if it’s not a particularly competitive situation, the founder must remember that it’s not just the investor interviewing them—but that they’re interviewing the investor as well. In order to feel confident that you are choosing the right partner, you'll need to have the confidence to ask questions and get to know them on a personal level. You will need to recognize your own personal business style and what you will need from them. And lastly, you have to feel empowered by the VC you are working with so you both can reap the benefits of a successful endeavor. Let’s dive a little deeper into each of these points. Getting to Know You How can you know if your investor is a person of real, genuine character? Simple. By spending time getting to know them. You can have lunch or Zoom. You can swap stories. You can ask for references. You do your research by getting to know them as a person and seeing how you get along together. The quality of the person you’re going to be working with is important. After all, it is highly likely that they could be sitting on your board for years to come! It’s also a good idea to do your research on the fund itself. Prepare and ask questions based on your research. It shows investors that you’re engaged and serious about the process. Yes, it can be easier to grill your VC with questions when you’re in a competitive position with your fundraising. But no matter what your situation, you can still benefit from the way you position yourself in your communications with VCs. Have confidence and know exactly what you want to find out during this getting to know you stage. When you ask, “How big is your fund? How much dry powder do you have left in the fund? What’s your thesis?” it sends a powerful message to the investors: this person knows what they are doing. Know Yourself When you confidently ask the VC your questions, pay attention to how the investors respond—not just in terms of the answers but the way they respond. You have to possess a real self-awareness about who you work well with and who you don’t. For example, some people really can’t handle the fist-pounding type; they just know they won’t mesh well with an investor who’s particularly aggressive. Then again, some founders are the opposite: they know they’re going to need a hands-on investor who will give them that extra push. There’s no right or wrong here. It’s all about having self-awareness around your own working style and what dynamic suits you best in a founder/investor relationship. Aggressive can be okay but watch out for those early-stage VCs who are very nitpicky about the terms in the term sheet and all the granular details of your business. If you see that behavior in a prospective investor, it should raise an eyebrow—no matter what your work style may be—because it’s a predictor of how they’re going to act as a board member and investor. The Good Ones A good investor will want to empower the founder, not control them. If your VC is out for power, it can create the wrong dynamic. The investor should want to embolden the founder. Yes, they should express their opinion if they feel strongly about something. But they should never force anything on the entrepreneur. Especially if you’re an early-stage company and you’ve just got a basic product, and now an investor is trying to rigorously evaluate your business and grill you on all the details, my advice would be to get out ASAP! There’s just no reason for them to perform that kind of due diligence around an early-stage company—and if they’re already so difficult to work with, you know it’s only going to get worse! Similarly, a good investor also won’t tranche their investment in early-stage financings over many payments. When a pre-seed or seed deal is tied to future KPIs, that’s a big red flag because it can misalign interests (the investor may be rooting against you to meet the KPIs to have more leverage in the relationship). If you’re like many startups, you’re still figuring out what you want to be when you grow up. If your investors determine a narrow path for you, you don’t have the flexibility to pivot into new opportunities that you come across. If you find yourself in a position where you don’t agree with something an existing investor wants, the investor really has to just let go and accept. Otherwise, it’s going to create unnecessary conflict. This is common sense but it takes confidence to stand your ground. It’s the same philosophy I bring to hiring: I want to give my people the autonomy and freedom to make their own decisions rather than telling them what to do. I know that I can’t work well with an investor who tries to control or micromanage because I know myself. And you need to know yourself, too. Let’s Make a Deal By the time you have asked all your questions, assessed their character, looked into their other holdings, and are getting good vibes from the VC you should be ready to make the deal. Determining the character of the VC can be very simple but it takes due diligence and the wherewithal to stand by your findings. You’ll be happy that you did. Because no matter the relationship or business potential, you’ll find yourself going through turbulent times with these investors. The going can and will get rough, and for better or worse, you’ll be in the thick together and you wanna know you have the right VC by your side. About The Author - Brian Requarth is the co-founder and former CEO of Viva Real, a leading proptech business in Brazil. Brian raised $74 million in venture capital funding for Viva Real, which sold for $550 million dollars.

How to Choose the Right Partners in a Venture Capital Fund

As an increasing number of venture studios break into the entrepreneurial scene, it’s time to analyze what makes this model so competitive. The venture studio isn’t a new idea, so what explains its sudden popularity? According to GSSN, there’s been more than 625% growth in the number of active venture studios working across the entrepreneurial ecosystem over the last seven years. For comparison, that means that studios are growing faster than funds, accelerators, and incubators. Simply put, venture studios have become such a formidable presence in the venture market because they’re so successful. Take Idealab, for instance — the very first venture studio founded back in 1996. Of the 100+ companies that Idealab has created, 70% have been successful, 35% of those have exited, and 5% of them became unicorns. Those are startlingly competitive metrics compared with . the traditional venture capital funnel As the stakes get higher for entrepreneurs and investors competing with platform giants and their internal innovation arms, the venture studio’s track record offers a reliable and repeatable way to build competitive startups. To really understand what’s drawing the attention of VC veterans, let’s discuss what makes the studio model so successful. Early Intervention and Market Validation To get a new business off the ground, founders have to build resilient teams, secure ample funding, and get their core business functions up and running. If startup teams fail to hit these milestones at just the right time, they’re liable to fail — as 90% of all startups do . But that’s actually not the main reason why most startups crash and burn. In fact, most startups fail because for what they’re trying to sell. It may sound surprising, but a lot of founding teams don’t take the time to ensure that people actually want their product. This means that they invest their money — and their investors’ money — on a product and a business that hasn’t been adequately validated. there’s no market need This is where venture studios excel. Because , they make sure there’s before they do anything else. By getting involved earlier than funds and accelerators, studios can invest time and capital on startups that are more likely to succeed while meeting proven market demand. studios ideate their own startups, validate their own products, and invest their own resources sufficient market need Streamlined Startup Services and Repeatable Processes Once venture studios validate a startup concept and move forward with it, they can to get that startup ready for launch. These include legal services, HR tools, software development, executive leadership, and more. Because all of these resources are at the ready, studio-based startups can move faster than their competitors and beat them to new market niches. leverage established in-house services And, since studios put a premium on repeatable processes, their startups are more likely to get these things right. While independent startups put the plane together while flying it — and risk making critical mistakes along the way — studio-based startups rely on proven infrastructure that’s built successful startups again and again. Taken together, these pre-existing, repeatable processes help studio startups move more quickly and more confidently. Research shows that the studio model helps startups get to seed round in an average of 10.7 months and to series A in an average of 14.5 months. In short, these startups are getting to a seed round 25.3 months faster than traditional startups. Experienced Founders and Established VC Networks Finally, studios benefit from . Creating and funding a studio requires considerable experience, with principals usually having built, grown, and launched several startups already. This means that studio leadership will , prioritize the most promising opportunities, and assemble the right teams. experienced leadership have the skillset needed to validate startup ideas When studios attach executive leadership to internal startups, they’ll also be tapping into their own VC networks. While this kind of network is essential when it comes to funding, it’s also critical for sourcing talent as startups prepare to launch. to connect experienced founders with internally validated concepts, ensuring that their startups are in safe hands. Studios can draw on contacts from across the venture ecosystem Venture studios aren’t without their own challenges, but they’re a welcome addition to the startup market nonetheless. By emphasizing market validation, iterative development, and founder experience, they solve for consistent obstacles throughout the traditional venture capital funnel — all while offering higher returns on smaller and safer VC investments.

What Makes A Venture Studio So Successful at Building Startups?

Justin Caldbeck of Binary Capital explains similarities between basketball game and running a venture capital. The world often works in microcosms, and I find frequently when I am stuck on something that’s giving me trouble, that if I can shrink the problem, and understand a smaller version of the dilemma, I can overcome it. I can work backwards from my simple solution, expanding it and growing it, until it fits the problem at hand. So, while the two worlds of venture capitalism and college basketball may seem to have nothing to do with each other, the problems that one must face and overcome in each field are very similar, if one just shrinks those problems down to the lowest common denominator. This is all just a roundabout way of saying the same lessons and techniques I learned from my time on the men’s basketball team at Duke University, are the same ones I rely on most as a businessman in the corporate world. The values of the two are completely interchangeable, and can be transferable to any workplace or setting where a group is working towards a common goal. Be a Good Leader. If you can’t Be One, Find One. Every project needs a leader. It’s a simple fact that the world falls simply into hierarchies, so whether a hierarchy is implemented or not, it will always exist, either formally or informally. Of course, the best thing to do is to take control by creating a hierarchy of your own choosing, before one can form on its own. A hierarchy without a strong leader will have ineptitude and confusion spread throughout it from the top down. As the creator and owner of your business, you are the natural choice for the position at the top of the hierarchy. Rise to the challenge and lead your team with confidence and conviction! A strong leader who acts with integrity and gumption will always garner more respect than a leader who tries to please everyone (an impossible task with inevitable failure.) However, if you are not a born leader, or your role in the project is one of pupil, as mine was in the Duke basketball program, it’s possible to find someone to be that leader for you. Luckily for me, my first leader was the legendary Coach Mike Krzyzewski AKA Coach K, and it was from him that I learned the characteristics of a great leader. Confidence, sympathy, honesty, positivity, creativity: the list goes on, but these are some of the main pillars which, measuredly balanced against each other, form the foundation of strong leadership. Be a Team Player While the generalization of “being a team player” may seem to abstract to be meaningful, the concepts that make up the contents captured under the umbrella term “teamwork” are important ones. Humbleness is essential to working cohesively as part of a team, where the overall, grand goal set by the team is truly the only goal. Within the context of a team, individual accomplishments mean nothing if the group goal is not accomplished. The best, most humble athletes are quick to admit that a career day of points scoring means nothing if their team didn’t win. The next quality a team player must have is the ability to listen and communicate well with others. No successful team exists without communication; without it, every team member would feel responsible for every aspect of the project. Instead, delegation must occur, and all members of the efficient team work on something different. Lastly, a team player must have awareness, both of himself and those working around him. Negligence of one’s responsibilities within the team is no better than blatant malpractice within the team, and may actually be worse, depending on the situation. Being aware of the team means knowing your responsibilities as well as knowing the responsibilities of everyone else on the team, so as to facilitate maximum coordination. A team leader who likes to keep his team members partly in the dark, only releasing to them the information necessary for their own role in the project, is a bad leader, and is doing an injustice to the success of his team and their goals. Be Active In a basketball game, if Coach K ever caught us on the court not moving, he would instantly take that player out of the game. Sure it was part punishment for laziness, but it was also Coach K letting that person know to change their attitude. Coach K knew an unmoving player didn’t have the right mentality needed for success. A player who is standing still is waiting for the action to come to him; a moving player is saying, “Gimme some of that action!” Which one do you think a coach/leader wants to see? Even when it seems like there is nothing to be done, like all tasks are completed and the only thing to possibly do is to sit and wait, one can always keep preparing! Coach K would tell us that even if our feet weren’t moving, we should wave our hands and keep our heads on a swivel, increasing our awareness and visibility, effectively inserting ourselves into the action of the game. There is no room for spectators on a team. Every team member is expected to put in as much energy as the next person, and if your work is done, assisting the person next to you will only accelerate the team towards its communal goal. Be Positive and Stay Positive Simply adding positivity to a situation will never make that situation worse. Negativity, on the other hand, will destroy any situation it gets it hands on. Nothing will cause a team to break apart and shatter like negative attitudes (especially those that come from massive egos!) A positive attitude is essential to any team project, and it becomes even more essential when the odds are stacked against that team’s success. Every comeback begins with someone believing and saying it can be done. Never lose your positivity and optimism, and even the big defeats will feel miniscule.

How Running a Venture Capital Firm is Similar to Playing Basketball

Part I : Traditional VC landscape A note about how VC firms raise & invest capital Entities involved in a VC fund Traditional (VC) funding is an . There are early stage funds, Late stage funds, Specific technology focussed funds, Fund of Funds, Funds which are Super Giant sized, Funds which are vintage (#oldmoney), Funds that are fairly nascent. KPMG published an of Venture Funding Venture Capital interesting landscape interesting global analysis It is a competitive environment for VC fund managers to raise funds in the first place Source: File: Startup Financing Cycle.png — https://en.wikipedia.org Limited Partners provide Capital Contribution while General Partners invest the fund pool into multiple companies on the basis of a defined investment strategy. These invested companies are collectively termed as that VC fund’s portfolio Invested companies are expected to perform well over time (usually 5–7 years) and provide an appreciation on the invested capital by way of up rounds. The appreciated returns, after realisation by way of exits, are passed back to Limited Partners as the Fund’s Income Distribution The job of Sourcing, Investment Analysis, Due Diligence, Portfolio management is challenging and involves a mixture of soft skills, patience, network effects in the industry and financial juggling. General Partners are paid for these challenges by Limited Partners as (typically about 2% of funds under management) Annual Management Fee If a return of investment is realised in a Liquidity event (successful exit from a company), then a profit distribution of aprox 20% net of promised fund performance (carry) is paid to the General partners. If a Tech startup company founder is looking for funding, It is not dissimilar to the situation of a VC looking to raise funds for their vehicle. The similarities ends there as founders of tech companies have only one chance to succeed / fail in that company. A fund manager (VC) on the other hand deploys the fund across multiple companies taking calculated risks. This has a distributing effect of high risk & playing to the fact that mathematically, the probability of at least one of the portfolio companies performs in a stellar fashion, it may pay off to average out the other failures A VC firm may have multiple funds with different goals. This is an Example. Challenges faced by GPs & LP’s (this list will be discussed in detail in an upcoming blog post) 1. Unreasonably long Time horizons to realise Returns. The time horizon for a company to return appreciation, if at all, is about 5–7 years. This leads to the next challenge some 2. Low Liquidity for LPs. Limited partners are briefed by the GP’s at the time of a fund raising effort that their investments are unlikely to yield any returns prior to year 7. A clause sometimes restricts LPs from trading/selling their investments to other parties. Therefore, a LP may have to wait it out up to year 5 to even see a hope of an exit 3. Very high uncertainty / Challenging ROI: Most start-ups fail! Many studies say upwards of 95% of all start-ups fail. When a start-up fails after investment, it is a zero ROI on the money & negative ROI on the time invested 4. Information Asymmetry: exists in LP-GP relationships as well as VC-portfolio company relationships 5. Portfolio effect to mitigate the high risk: Both LPs and VCs build a portfolio to spread the risk. But in both cases, the portfolios are more or less illiquid 6. Raising another Fund: How will LP’s trust the GP if they haven’t yet returned any cash let alone profits? It is a serious problem for the majority of the VC firms. According to a deep dive by , Crunchbase When it comes to investing in private companies, putting money into a venture is often the easy part. It’s getting the money out — and hopefully more than at the start — that is the stickiest wicket in the whole process. An “exit” by way of merger or acquisition is among the most common ways startup investors are able to liquidate their long-held stock positions. The Liquidity comes from being able to sell the tokens Part II: Tokens & Tokenised funds : What are they & how are they beneficial Tokens are programmable. Underlying assets can be linked to tokens using . They are lines of code that can execute automatically to deliver outcomes based on logical triggers that are pre-programmed at the time of coding. Blockchain The business logic can be pre-programmed into the code itself. Therefore, the tokens can be programmed to: 1. Stay put in a wallet for a certain amount of time (Minimum commitment time) 2. Only be sold in the secondary market to entities who had undergone fixed (can be programmed to follow KYC/AML/CTF laws) KYC procedures 3. Only be sold to people who are Accredited investors (in certain jurisdictions) 4. Include the governance of the LP-GP management terms agreed at closing of the fund A tokenised fund can be viewed as equity crowdfunding of a VC fund. The token sale raises capital in exchange for either equity of the VC fund or promise of income distribution from the token fund vehicle. These tokens are termed as Equity tokens or Security Tokens. The fund raising token sale is termed as a Security token offering. The governance and application of legal oversight still remains the same if the token sale is conducted in the same jurisdiction that the fund normally operates from. The fund will still need to comply with any reporting, auditing, notification and filing formalities that are normally associated with the operation of funds in that jurisdiction. The token sale plays the role of replacing a handful of institutional investors with a larger number of institutional investors / accredited investors. NB: Tokenised funds may in some cases invest in tokenised firms seeking investments. The liquidity of those investments in such cases is much higher as their portfolio is itself tokenised & tradable. How tokens can solve the challenges / provide new benefits (a) Providing liquidity for LPs: Since the LP’s are at the most limited from trading/selling their tokens for 12months, in a tokenised fund, they gain radically more freedom in liquidating their positions in the secondary market. This benefits the LPs in deploying capital elsewhere as they see fit. The freedom that is gained will increase the likelihood of LPs investing in funds they would not have otherwise. This would lead to a cascading effect of entrepreneurs receiving funds for their ideas quickly as VC’s themselves can raise funds far more easily. (b) Solving alignment issues: Extensions at the end of a Fund are common misalignment between LPs and GPs. A GP may be minded to wait it out for a portfolio company to take its time to perform well & may request an extension beyond the agreed 10year fund life. Typically, extensions are for a 1 or 2 year period to allow for the portfolio position to be wound down. They are usually pre-written in the fund agreement However, an LP may have to agree to such an extension even if their preference is not to. Faced with a similar situation in a tokenised fund, LPs have an option to sell their tokens / positions in the secondaries market ( c) Tokens are Globally tradable By design, tokens are easily tradable worldwide on crypto exchanges. Yes, a secondary market for LP positions exists in the traditional world. However, it is very illiquid and can be a very slow process. By design in a tokenised fund, an LP may exit and re-enter a fund multiple number of time if it suits them. In a , LPs who liquidate their positions can only do so in the fund’s native jurisdiction. Such restrictions do not apply to tokens as they can be traded globally. traditional VC landscape (d) LPs are getting more risk savvy. Tokens are a way of quick feedback Tokens provide a convenient avenue for LPs that have an enhanced risk appetite to invest directly in early stage start-ups. (e) Shorten Feedback Loops & increase IRRs for GPs Liquidity in a tokenised environment may provide GPs in a VC firm a shorter feedback loop. This removes the problem of not being able to raise a new fund in traditional VC landscape with long feedback loops. Those GPs who realise a better IRR in a shorter feedback loop will be better positioned to raise a new fund. (f) Sidestep the issue of Preferred return hurdle (PRH) This is a contentious issue in the LP-GP relationship. Most GPs 20% carry does not consider the time value of money — the GP’s carry is solely based on the cash-on-cash return of the fund. A preferred return hurdle (PRH) changes that dynamic in the LPs favour. A PRH of 6% simply means that the LP’s must preferentially receive a 6% annual appreciation on the capital invested first before GPs earn any carry. This is an issue that is created in the traditional illiquid setup. However, in the tokenised environment, fewer LPs will remain invested long enough for the time value of money to be significant. This is a side stepping of a sticky subject in a tokenised environment Note: Yes, a VC fund can be IPO’d but it is highly expensive and a friction filled process Closing remarks: Tokenising provides opportunities to let go of the rigid positions of GP’s & LPs in traditional finance. It allows LPs and GPs to map investment efforts collaboratively. The change in dynamic between GPs and LPs also cascades down to the start-up ecosystem. Easier access to capital will result in far more entrepreneurs chasing their dream. Written by: & Suraz Kottakki Dr. Joel Palathinkal Finally, a word about Genesis Block Holdings : Genesis Block Holdings is a blockchain venture capital firm, crypto quant hedge fund, and mining company focused on investing in blockchain projects within the ecosystem. We are laser focused on bringing the power of capital, network, and expertise to frontier technology teams to solve the world’s biggest problems Under no circumstances should any material on this post be considered as an offer to sell or a solicitation of any offer to buy an interest, token or coin in any individual company or investment fund. Any such offer or solicitation will be separately made only by means of the Confidential Private Offering Memorandum relating to the particular fund or persons who, among other requirements, meet certain qualifications under U.S. federal or other international securities laws and generally are sophisticated in financial matters, such that they are capable of evaluating the merits and risks of prospective investments If you felt this was helpful, please clap for us, share it amongst your friends and feel free to send us a note anytime at . Checkout our telegram channel and follow our blog genbvc.com here> here>

Why & How to tokenize a Venture Capital Fund?

How to pitch in a venture capital meeting

Dear Hacker Noon Readers, The mindful VC, , . And took the liberty of : Steve Schlafman decoded the qualities of a great VC on Hacker Noon AngelList translating it into emojis 🤔 Curiosity 👩‍🔬 Expertise 🚀 Passion 👩‍💻 Focus 🌐 Network 💵 Sales ✌️ Emotional intelligence 🦄 Conviction What do you think? Are those the 8 qualities that determine a venture capitalist’s success? Join in on or email Stories @ AMIpublications.com about contributing a response on . this twitter thread Hacker Noon In other , argued that the industry is about to be disrupted as the print magazine industry was in the late 1990s / early 2000s. In “ ” he writes, “When the world is able to vote with their clicking fingers and money is as fluid as ether, we will find ourselves in a world where the long tail knows more and does more than the establishment ever could.” venture capital news John Biggs The Coming VC Storm When it comes to communicating with investors, the has got you covered with “ .” Any backed founder could use this time saver. Founder Collective A Fill-In-The-Blank Investor Update Template for Busy Founders Now onto the week’s next best 17 tech stories: - R. David Dixon Jr. - Daniel van Flymen -John Cutler Live in NYC and keep up with tech trends like robotics or bitcoin? Help shape the future of banking on 10/24 and earn $500. If you live in the Palo Alto, there’s a similar event on 10/19. to learn more_._ Interested? Take this survey. Email - Caroline McCarthy - Adnan Rahić - Guillaume Montard - . Read more about AI. Febin John James - Stefan Wolpers - David Gilbertson - Erik P.M. Vermeulen - George Krasadakis - Mitchel Lewis - Sean Johnson — Lou Kerner - Ash Rust - Juan Buis - The Byte Until next time, don’t take the realities of the world for granted. Kind Regards, , David Smooke AMI P.S. Read more in latest , trending , and the archive .

What Makes a Venture Capitalist Tick?

I’ve said it before, and I’ll say it again, I see too many blog posts by VCs on what founders should do better, blogs they read, books they say they have read, deals, etc. (I’m guilty of it too) What we don’t have is an understanding of the music your favorite (or least favorite) is cranking as they burn the midnight oil (yes VCs work late too). If you’re not into music at all, then it’s cool to go ahead and block me on social media. VC For me, . I can sit here for hours digging into an artist, researching their history, their music, lyrics, style, how their songs tie together to tell a story over the course of an album, a decade, a career. Who the artist is, what they have to say, how they say it, all means so much to me. In fact, I can’t really get interested in an artist unless there is enough depth to satisfy a search to the extent that it would result in finding those things. music is a passion Investigating a song or an artist is the same process for me as digging into a potential seed investment. Often the story of the founder, his/her life story, the path to discovering the problem, the problem itself, the market, and so many other qualitative factors that add color and texture to a story, matter to me. Falling in love with an artist or a song is the same as falling for an idea, a founder, or a business as an investor. Why does this matter with respect to VC investing? So anyway, for both of the people out there that care, here are my favorite bands and why with links to my favorite album of theirs, and favorite songs (on spotify). 1. Billy Joel As someone who loves NYC, and went to college in NY, I had to go with a guy who grew up in Queens, struggled with his own success, battled demons, found unparalleled success and can tell a story like no other in 3:05 — I love this guy. I remember seeing him play the last concert ever at , what a night. After graduating West Point (was there during 9/11), and having had a life-long dream of living in NYC, then doing that for almost 4 years, my love for NYC resonates with his music. Oh, and probably one of the best voices of all time, but no big deal. Shea Stadium Favorite Album by Billy Joel: Twelve Gardens Live Favorite Songs by Billy Joel: , and Angry Young Man Big Shot Adam Duritz — Counting Crows 2. Counting Crows Adam Duritz is probably the one guy I’d pick if you said I could have dinner with any artist. This guy! Quick rise to fame, intense struggle with said popularity, and a catalogue of passionate, life experiences detailing his struggles along the way. Again, an artist who loves NYC, and feels passionate about the energy of that city. Nobody makes you forget the outside world for 90 minutes at a concert like Adam does. He is an intensely passionate human being, and you can feel that when you dig into his music. Favorite Album by Counting Crows: Saturday Nights and Sunday Mornings Favorite Songs by Counting Crows: and Have You Seen Me Lately? Washington Square If you have ever seen this image before, then you rock! 3. Alkaline Trio Who? Exactly. If you actually know who they are, or if you have been to one of their shows, we are going to be friends. In fact, if you have made your way to this blog, and you have heard of them before, then I want to hear from you. They are dark, yet happy about it. They are intense, yet chill, They are angry, yet, not really. “All of my favorite singers have stolen all of my best lines” is a lyric of theirs that kind of encapsulates them — whiney, but funny and somewhat dark. They have the best one-liners scattered throughout their songs. I love the raw sound. The intensity of the topics they cover is incredible. I’m waiting for them to go on another tour, but the lead singer is too busy playing guitar for Blink-182 this summer. Oh well. Favorite Album by Alkaline Trio: Goddamnit Favorite Songs by Alkaline Trio: , and San Francisco My Friend Peter Photo I took at a Weezer show in Dallas (July, 2016) 4. Weezer Yeah, the sweater song guys. That Blue album, rocks! I have the fondest memories of high school when I hear “In the Garage!” Rivers Cuomo may be one of the most intelligent song writers of all time. The variety of themes, sounds, intensities, and topics in his music make it really diverse. I fell in love with the sound, but then started to learn about Rivers, and the behind a lot of what he has written and it just makes so much sense to me. I followed them around during the summer of 2016 and saw a few shows, they still sound great. Back in the day, I heard a few lives shows where I came away thinking Rivers’ voice may be one of the best I’ve heard. Maybe it isn’t as strong as it once was, but that guy could BELT IT back in the day. Also, any band who rocked me in high school (90s), and still puts out new content that also is badass, is gonna make my list. meaning Favorite Album by Weezer: Blue Album Favorite Song by Weezer: Say it Ain’t So Photo I took of Fat Mike in a Bush-Quayle shirt at a Dallas show (November, 2016) 5. NOFX I love punk rock. I love aggression and anger coupled with satire and political commentary. I appreciate their self awareness and self deprecating approach to discussing their own music. When I go to a punk rock show and tweet the singer after the show saying how much it sucked, the right singer (Fat Mike) reacts by liking my comment because that is a compliment if you know anything about these guys. The irony, the passion, the anger, make me think. The pain they express about a lack of empathy in the world, resonates with me. Favorite Album by NOFX: (go ahead, give it a listen, it won’t bite) The War on Errorism Favorite Song by NOFX: Freedom Like a Shopping Cart Photo credit 6. Against Me! More punk rock. A lot of what they are singing talks about how the punk rock scene and the apparent “anarchists” within that scene had become a trendy, groupthink laden, bunch of followers who can’t think for themselves. They talk a lot about how the two party system has failed us, as well a lot of social issues. The lead singer made the transition to being a woman a few years ago and has written an entire album about gender dysphoria. Much of the songs before and after her transition about are about being true to yourself, having your own original thoughts, expressing yourself, freedom of thought, etc. Just about every song really makes me thing. Raging against the machine for the sake of following others who are angry, is stupid, but seeking to change an oppressive system and doing so with original thought, that’s where it’s at according to . Laura Jane Grace Favorite Album by Against Me!: 23 Live Sex Acts Favorite Song by Against Me!: I Was a Teenage Anarchist Photo credit 7. Panic! at the Disco Ok, I’ve seen them in concert three times in the last 12 months (no big deal). Average age at each concert, 14 years. I’m not ashamed. Have you heard this guy sing? Best voice I’ve ever heard live. One of the best performers I’ve ever seen. Love the music, and really dig . I can’t get enough of this guy. Brendon Urie Favorite Album by Panic!: Death of a Bachelor Favorite Songs by Panic!: , and Don’t Threaten Me With a Good Time LA Devotee Ok, well, I guess it’s time to get back to work. But when I do get back to work I’ll be jamming one of these playlists: (created by my good buddy, another VC) Bro Bra Playlist (mix of punk rock songs I like — always a work in progress) Punker Than Me (all EDM and House — great winter sports playlist) Electronic Haze (one of the best movies ever) The Art of Flight Soundtrack (made this playlist to ease some friends into Against Me, but what you should really listen to is this live Album: ) Totally Against Me! 23 Live Sex Acts (songs that remind me of sneaking out to festivals in 1999) Sneaking Out 1999 Follow Stephen on Twitter Contact Deep Space Ventures

A Venture Capitalist and His Music

Foundry’s Brad Feld #Connect17 Interview (5/8) Venture capitalists follow many different paths. What’s it like fully transitioning from operational role to investor? David Smooke: I’m trying to imagine in your shoes now, it’s a little difficult… Was there a moment when you were like “Okay, I’m a Venture Capitalist?” ’Cause it seems like a chicken and an egg, where like, get the money, figure out what was successful, and people come in and out of the game — it seems a little more like you’re there, and this is who you are — so was there a moment where you’re like that’s my job? Brad Feld: Yeah, there was definitely a transition for me that was pretty substantial. I started in 1994, investing my own money as an Angel Investor. Between 94 and 96 I did 40 investments, 25 to 50 thousand dollars in the shot. This is after I sold my first company. David Smooke: Yep. Brad Feld: I made a lot of investments, but they were very small. Then I stumbled into working with a group from a company called Softbank, which then became the first Venture firm I was part of. We ended up creating a firm called Mobius Venture Capital. It wasn’t until 2001, somewhere between 2000 and 2001, where I started to identify as a Venture Capitalist. Up to that point I co-founded a number of companies after I sold my first company. I was chairman of a number of companies, so I straddled this investor role, and operator role. But where I wasn’t really running the company, but I had an operating engagement with the company. Or I was identified as a co-founder at the company. And in the internet bubble, when it finally blew up, I had a lot of things going on, and it was a total shit show. And I realized I couldn’t be an investor and an operator. I just couldn’t … I had been chairman of a company, it was a public company. We fired the CEO, as chairman I was the acting CEO. Plus I was on 20 boards of startups. It just didn’t work. David Smooke: Yeah. You couldn’t switch between the two. That’s the point at which I decided I’m on the investor side now, I’m a VC. But in that context I really had a view of how I wanted to interact with the founders, coming from the operating perspective. David Smooke: That’s cool. Brad Feld: I do feel, by the way, that question makes me feel old. That was 17 years ago now. David Smooke: Was it? Brad Feld: It was a long time ago. David Smooke: Yeah. Brad Feld: I’ve been doing this, in this modality for a long time. Read The Rest of Foundry’s Brad Feld #Connect17 Interview Writer / Publisher Relations on Medium Who’s a Venture Capitalist’s Customer? The Venture Capitalist’s Writing Process The Venture Capitalist at His Investment’s First Conference How Brad Feld Realized He Was a Venture Capitalist What Venture Capitalists Can Bring to Product Development The Nearly 30 Year Quest To Solve The Business Address Book Problem How Venture Capitalists Market Their Stories

How Brad Feld Realized He Was a Venture Capitalist

Foundry’s Brad Feld #Connect17 Interview (2/8) It’s not as simple as just serving who invests in the fund David Smooke: So today you talked a lot about customer centric. I wanted to start with who’s your customer? : , there’s a long standing debate about who your customer is. Because, we have on one side an investor of ours who gives us money. Brad Feld For Venture Capitalists David Smooke: Yup. Brad Feld: Theoretically, they’re a customer. On the other side, you have the founder who we give money to. So theoretically, they’re a customer. The frame of reference of how you interact with them should be relatively consistent. But then, there’s another dynamic, which is, there’s a whole bunch of people that are, you’re not an investor in, and that you have some kind of relationship with. Whether their co-investors, or strategic partners, or people who are interested in what you’re doing, or prospective investees and entrepreneurs you want to get to know, and need. Or just people in your network. I tend to think of it similar to what I described when I was talking today. I’m less interested in the ridged definition. I think of it as just a bunch of different entities. And my engagement with each of the entities, whether it’s an LP or a portfolio company, a Founder, a CEO, a co-investor. Any of those entities I try to treat as a customer, in terms of my dynamic with them. David Smooke: Pretty long winded. So what are you serving everybody now? Brad Feld: No it’s from my frame of reference, I try to stay in the head space of: I have one to one relationships with lots of different people. I need to make sure those one to one relationships are really one to one. David Smooke: Yeah. Coming to an event like this for- Brad Feld: You don’t like long winded answers? They’re the best kind. David Smooke: No, I do like them- Brad Feld: You have to edit them, you have to work on it. David Smooke: Yeah. I’m thinking about the framing, and what it is. Brad Feld: Or you can just decide not to, you know, ‘fuck it this is too hard.’ I’m not gonna bother with this one. Read The Rest of Foundry’s Brad Feld #Connect17 Interview Writer / Publisher Relations on Medium Who’s a Venture Capitalist’s Customer? The Venture Capitalist’s Writing Process The Venture Capitalist at His Investment’s First Conference How Brad Feld Realized He Was a Venture Capitalist What Venture Capitalists Can Bring to Product Development The Nearly 30 Year Quest To Solve The Business Address Book Problem How Venture Capitalists Market Their Stories

Who’s a Venture Capitalist’s Customer?

As a new VC, I often ponder the investment theses that drive other, more established investors. I look at their clear focus, specific direction, and well-articulated investment goals with a bit of envy. I’m not sure how other investors were able to develop their strategies. However, I wanted to share my thoughts on why has thus far primarily focused where we have. We are a seed and series-A investor and we started out with a B2B focus (which we still have) and we have recently started building a portfolio, and a thesis around the Esports space as well. If you’re a founder in one of these spaces with a seed stage business, then we want to meet you. Deep Space Ventures Hopefully, this blog post is helpful to some other aspiring early-stage investors out there and maybe even helpful to some founders who are curious about why some investors are focused on “this” or “that.” Bottom line up front: We and will find our third thesis the same way. invested our way into both focus areas I’m just as curious as you may be, to figure out what our third focus area will be and when we will know it! Frankly, we didn’t call them focus areas until we had completed 2–3 deals in each space. Below is an explanation of how we got here, and a few anecdotes from my experiences as a first-time early stage investor on my way to developing multiple investment theses. B2B Enterprise Software and Services — Our First Thesis When I first started seed investing in late 2015, I sought direction, even if it was fabricated or maybe even not the perfect direction. My intent was to avoid drowning in a sea of opportunities. Combining my investment banking experience (working with large cap public companies) and my location (I’m in Texas, , second only to NY and that gap is miniscule — 55 versus 54), I rationalized that investing in startups that sell B2B software and services could make a lot of sense. home to the 2nd most Fortune 500 Companies in America Fortune 500 Companies by State in 2015 ( ) https://www.geolounge.com/fortune-500-list-by-state-for-2015/ When you consider the cost of living in Texas (lower burn rate), the proximity to corporate B2B customers, and the vast amount of talent in the area that knows how to sell into these companies, it seemed reasonable that investing in capital efficient, local B2B startups made sense. Our B2B focus has expanded outside of the region lately, but our access to local large cap customers as a value-add for our portfolio companies remains, regardless of where the startups are located. In fact, often times, during diligence I like to make an introduction to a potential large B2B customer, and then get their on the . feedback startup There you have it, our first thesis. I couldn’t tell you. At the end of the day, I learn by trial and error. I’m alright with running in a direction, the wrong direction sometimes, and banging my head against a wall to find out I need to go the other direction. That’s how I learn. That’s how I find my way in the world. People with more intellectual horsepower probably avoid doing it that way, but those people aren’t me. Is that how everyone else comes up with their investment focus? I’m not sure if that was the right formula to start investing with or not, but I’ll let you know when the feedback loop closes in about 6 more years (or longer). We recently added our second “thesis” or “focus area” which is Esports. Seems kind of random when you consider we started off as a B2B SaaS investor — I’m thinking the explanation below will be helpful for some new early stage investors. Esports — Our Second Thesis In September 2016, I attended the conference. I had only been an early stage investor for half a year at this time. Conferences like this give me (and other new investors) a great opportunity to gain market awareness. Often as a micro-VC living in a “ ” you have blind spots in terms of market awareness. Going to conferences helps with that issue as it gives you in-roads to other ecosystems where you can learn about the problems those founders are solving and maintain more situational awareness. Tech Crunch Disrupt flyover city I met the founders of mid-way through the conference and really loved their business. They ended up . After the conference, I called one of the founders, not sure if they would even remember me after they had , , , and others lined up to invest. Mobalytics winning the Disrupt Battlefield pitch competition Founders Fund General Catalyst GGV Capital Almaz Capital That phone call went great. In fact, I later asked the founders why we even got into the deal (considering how strong the cap table is with top tier investors), and he told me that it was a genuine approach and a sense of hustle, as well as a personal connection that made him go back to his partners and ask for us to get an allocation. That right there, is how new early stage investors (micro-VCs), can get into the best deals. Hustle alongside founders, be authentic and let them know you that empathize with their hustle because you too, are a startup trying to get traction. Time to step away from the Xbox man! Back to the Esports thesis: I grew up playing video games, and being told by my parents to not play too much or my eyes would be permanently damaged (I would stay up playing Zelda, and Kung Fu on NES at all hours of the night). While I’ve never been a great gamer, I do love gaming and use it as a way to decompress after a long day. On top of my personal interest in the space, I realized really quickly how big this market is ( ), how early we are in the evolution of the market, how fast it is growing, and how intensely passionate the individuals who comprise this market are about playing, improving, and following the space. This drives a level of engagement with the end user, that I can’t find in most other markets. The ability to play the game, be in the game, watch others, and play against anyone in the world, at any time, is unlike any other hobby, sport or pastime. I don’t think anyone will argue about the market dynamics from an early stage investment point of view, so the focus now is on where exactly to put money to work within the sector. This is a chicken or the egg situation, so our approach, is to put money to work, then find our way and put more money to work. more people watch League of Legends world finals than the NBA Finals The level of insight gained from being invested in a business in this space, was far greater than if I had just done some reading on the space, asked an intern to research the sector, or taken another investor at their word about Esports. This was the birth of a thesis. An observation born out of personal experience, personal interests, and visibility into the inner workings of one of the hottest startups in one of the largest, fastest growing markets out there. As I said in the intro, I invested my way into this space, and the requisite knowledge to build a thesis around Esports came as a dependent variable in that equation. Couple of major takeaways here for aspiring early stage investors: Learn by doing — try, fail, and change directions. Don’t be paralyzed by over analyzing and slow decision making processes. Avoid . You’re going to make some bad investments, so go make them, and start learning from them. Go explore, invest, learn and see what happens. analysis paralysis Hustle your ass off — you want founders to say things to you like “you really get us and what we are going through” when they see how you operate. That’s what will get you into great deals. Do it differently — for so many reasons, do not copy the way someone else does it (unless your fund strategy is to just invest alongside other successful investors, in which case, have at it), rather go find your own way and don’t let anyone tell you you’re doing this wrong, because even the most successful investors have more losers than winners. Focus on learning and meeting people. Those are the most important things you can do every day. It’s similar to Thermodynamics, in that the more you know, the more you know (the faster you go the faster you go — increase airflow to a compression ignition engine, and it goes faster, and thus increases airflow, and thus goes faster, just had to toss in some engineering nerd talk there). In conclusion, I think the interesting thing will be the answer to this question: What will be our third focus area? When will we know what it is? I’m just as much in the dark on that as anyone reading this! Follow Stephen on Twitter Contact Deep Space Ventures

The Birth of a Venture Capital Investment Thesis

The ability to understand and develop an MVP is a crucial skill in almost any company or organization. The Minimum Viable Product is a aimed at testing the core assumption(s) behind an idea, a concept or a new service that a venture is aiming to launch. A great deal of effort is especially required to understand what the core assumption of the product actually is, for it is very common (especially for technical people) to start tinkering and coding when a faster and easier solution could have proven the viability of the venture without the need for a single line of code. working product Technodytes In the eyes of marketers, product managers and strategists, tech people are very trigger-happy around solving specific tech problems and not really interested in the bigger picture. As I definitely belong in this group, the best epithet that I’ve heard in describing techno-happy people is Techno-Troglodyte: but since I don’t like composed words, let’s refine it a bit and voilà, we have Technodyte (literally “she-he who dives in tech” ). Nice. A typical MVP out of a team of Technodytes is usually very unbalanced on the medium for delivering the solution (be it an app, a bot, a drone) rather than on the solution itself. In other words, if we look at the Lean Cycle, not a lot of thought is put into the “Should we do it”. “Sony seem to be totally focused on technology invention and product innovation, rather than thinking across all three parts of the Lean Startup cycle. They are favoring ‘can we do it’ over ‘will customers want it’ and ‘can we make money out of it’. Considering all three parts together is vital in order to launch successful products rather than mere trinkets.” — Matthew Guest , Sony, agents, projectors and Lean Startup On the other hand, it is very common for non-technical people to make specific assumptions and draw conclusions about the technical side of a venture without a clear understanding of the actual requirements and implications. In this case, when finally approaching a dev (or engineering) team they tend to give a set of requirements based on their technical experience and understanding and if the Dev Lead is not proactive enough to challenge the given requirements, the success of the venture could be definitely jeopardized. Intermezzo: obligatory media rant The landscape of news media from where tech-curious people tend to gather their information is often polluted by click-baity pieces written by journalists lacking the skills to challenge a company’s marketing-y press release. Recent examples can be found in the buzz and distraction around quantum computing, artificial intelligence, delivery drones, robo-taxes and the lot. Agencies and Boutiques When a company lacks internal skills to build an MVP, agencies and boutiques tend to see more value in Waterfall solutions (aimed at building a final — yet unproven — product) than in Agile since the latter could be killed after almost every sprint. This is a crucial point for agencies, consultants and boutiques: the adoption of LEAN and Agile should not be seen as a threat to their revenue (just at their fixed-fee business model). At what stage should we build the MVP? It is easy for both technical and non-technical people to overestimate or underestimate a product’s requirements. This is of course not to say that tech-savy managers, marketers or consultants shouldn’t have a say on the requirements, but that there is the need of a figure with a little bit of both backgrounds to understand the bigger picture and manage expectations with an eye for technical feasibility. Even in a LEAN environment, it’s vital to have a clear-enough understanding of several points, following the “Playing to win” methodology, at the MVP stage we should have already cleared the following: 1. What is our winning aspiration?2. Where will we play?3. How will we win?4. What capabilities must we have?5. What management systems do we need? — Alan G. Lafley and Roger Martin, Playing to Win: How Strategy Really Works (Harvard Business Review Press, 2013) Also, the line between a POC (proof of concept) and an MVP can be blurred. For some the POC comes after the MVP and is a way to test the value proposition by gathering real-world usage metrics that shows traction with customers. For some it’s the opposite, and the difference is: validate “something people need” can be built. validate that “something people need” should be built. Customers don’t see the POC’s. That kind of thing is done in-house. They do see the MVPs and that is what they are willing to buy. Remember this: , . Proofs of Concept Minimum Viable Products POC’s test feature validity MVP’s test market viability — Jason Thomas , Proof Of Concept Vs. Minimum Viable Product (And When To Use Each) I tend to follow Jason’s distinction. Another great resource to understand why an MVP is required in the first place is the mighty : steve blank A minimum viable product (MVP) is not always a smaller/cheaper version of your final product.[…] The team confused the goal of the MVP with the process of getting to the goal. — Steve Blank , An MVP is not a cheaper product, it’s about smart learning An example: the shoe-ticket Let’s assume that, following the strategy defined by a public transportation provider we now have the following user story: “As a tube commuter I want to quickly catch the train so that I can arrive on time at my destination”. In order to speed up the journey there are several areas of focus, but let’s assume that our team is exploring different ways to optimize the ticket barriers. Here’s a couple of ideas: We could augment the speed at which the barriers open We could augment the speed at which the tickets are read (e.g. by using contactless) If it’s proven to be faster, we could eliminate tickets and use biometrics (e.g. fingerprint readers) If it’s proven to be faster, we could eliminate the barriers and use image-recognition to bill the customer We could propose a ticket that sticks to the bottom of a shoe and is read by a contactless reader on the floor We could eliminate the need of payment by envisioning a public tax to support transportation, etc… Granted, some solutions are rather extreme: but let’s say that the shoe-ticket looks promising and that the business wants to test it. The POC Since the contactless technology is quite proven, we may be tempted to buy two off-the-shelf components like an RFI tag and an RFI reader and stick it under a shoe to test the concept. However, I would suggest that we should instead focus the efforts on the glue and the shape of the RFID tag since it’ll need to withstand enormous stress. In this case, a POC could be a combination of material and glue that can fit on almost any shoe in any condition (what happens when the tag is wet? what happens when there’s mud? what happens when the person is running?). The proof of concept proves that the solution is viable and the technology exists. The MVP The MVP will therefore look like a metal stripe or panel able to read RFIDs (possibly a repurposed off-the-shelf device) and a set of tags to be given to the customers. The MVP will then gather data and assess, through insights about its usage, whether or not customers prefers that solution over the normal ticket barrier. At any point, we will be able to kill the venture based on evidence of usage or of unforeseen problems (like high heels or tennis shoes). Right. Granted, our venture is likely to fail. However, thanks to our MVP we will have failed fast and cheap and we’ll still have resources to explore another, better solution.

About the MVP or the case for de-risking a venture

Ready to Invest — Where do I Go From Here? You just raised a small fund, or recently became an Angel investor, great! What do you do now? If, you’re like me, then you’re not an institutionally backed mega-fund, you’re not a founder who exited who already knows the ropes, you’re just a person with a small fund behind you and you want to start sourcing, vetting and executing some deals. The big funds you read about, boast 100:1 pitch to deal ratios and talk about their unicorn exits, and how they add value to their portfolio companies. You hear about how cut-throat it can be to get in the best deals, but your war chest doesn’t compare with some of the big funds. This intimidated me when I first began too. The angel/seed stage investing world is fairly collegial from what I’ve seen. You can get into just about any deal, if you go about it the right way. I’ve learned enough to be dangerous in the last year or so, and am hoping this can point a new investor in the right direction a little bit. 1) Time to learn I’ve mentioned this in , it is really important to start learning. You can’t possibly know what you don’t know, but you can start identifying unknowns and that is a key focus for me on a daily basis. another blog post Go to this , and realize what you’re not reading, that you should be reading, then add those blogs and newsletters to your routine. epic blog post by Ramen Profitable _A few weeks ago, I wrote a post showing the most recommended books of guests on The Twenty Minute VC, the terrific…_www.ramenprofitable.co What do Elite Venture Investors Read Every Morning? Also go listen to this interview of conducted by : Peter Thiel Tim Ferris _"Freedom lies in being bold." - Robert Frost This episode's guest is the incredible Peter Thiel. Peter is a serial…_tim.blog The Tim Ferriss Show: Interview with Peter Thiel, Billionaire Investor and Company Creator Listen to the podcasts as they come out weekly. The topics covered will help you to start identifying the unknowns as I mentioned above. So many of Harry’s episodes are interviews with first time fund managers. Those episodes are golden for us new-comers to the space. Twenty Minute VC _Tim was referred to me by many other VCs as 'the fittest man in silicon Valley', notable tech publications even write…_www.thetwentyminutevc.com The Twenty Minute VC - Venture Capital, Startup Funding, The Pitch 2) Develop a thesis (or several) I see all these big funds, they have strict policies on how they invest in this and that, but not those things over there. That’s great, but as a first time investor, I’m not that set in stone about it so I developed “guideposts” of sorts. Directionally, I’m always aiming to stay between those left and right limits, but frequently, I find myself slightly outside of them, and I think that is ok. Frankly, I think you will develop more than one thesis and it will happen over time. You will likely have one or two investments that begin to go well, you find that you can add a lot of value, then you begin to learn the industry and find your way onto an industry conference board of governors and all of a sudden, you have a thesis around a space that seems to be a fit for you. Good outcome. On the other hand, don’t let your guideposts prevent you from seeing good founders and learning about their businesses. Who knows, you may find a high growth market, that you really like and can add value in, that you had not really thought was a fit for you when you first started out (this happened to me at when I found my way into the . TC Disrupt SF 2016 Mobalytics deal You want to have a “lighthouse” of sorts in the distance guiding your boat, but you may tack left and right and at times appear to be way off course, and that is fine, as you are finding your way. I hate using Navy analogies, because well , but this one just made sense. Army just BEAT NAVY 3) Know where you add value, and where you don’t Identify the areas where you can add value to founders. For someone with my background, that happens to be finance. I try to help founders by taking some of the CFO load off of their shoulders, and helping them think through positioning for the next round and how operational decisions will impact their P&L and balance sheet. Maybe you are a former CTO, or a former VP of sales, or some other background — all of those are great, just identify where you can help, offer help, and don’t overstep your bounds by giving advice on things you aren’t up to speed on. You will find that your experiences working with founders will create new areas of expertise and you can help in more areas in the future. So, this all goes back to — learn as much as you can along the way. number 1 4) Spend time with local founders Go spend time with founders in your area. Let them tell you their struggle and learn about their successes. Understand your local ecosystem, who the players are, and what are the dynamics you need to consider. startup The first ten pitches I took were referrals from the founder of my first deal. These were “friendly pitches” with founders who understood that I’m a startup too that is just finding my way. There is a lot to learn, you need to figure out how to listen to a pitch, how to come up with good questions, how to take note of the important things during the meeting and how to identify who you will work well with. This all comes with practice. 5) Don’t be in a hurry to do deals — be in a hurry to learn Coming full circle from number 1 above, don’t be in a hurry to do deals. I felt a bit of pressure early on to do deals and I felt like a kid in a candy store with the number of deals I was seeing. Slow down, take your time, learn a lot, invest a little and the rest will come to you in time. 6) Find a good VC attorney — use them as your psychologist A solid VC attorney who can help you learn, assist you in reviewing terms and documents, and can be there for you to stop you from doing anything stupid is worth far more than his/her weight in gold. In fact, more than one is ideal. I’ve worked with a few and they have all been great. While they have helped me do legal diligence, evaluate deals, get market knowledge and even drive deal flow, the greatest service my attorneys have provided me is psychological. I get a lot of great feedback on how I’m going to market, and how to handle certain dynamics in the startup ecosystem from my attorney. I actually think he is underpaid, but don’t tell him that. 7) Go invest in a local accelerator Go meet with a local accelerator or two, put some money in (small % of your invest-able assets) and use it as a learning experience. You get to see how they source and vet entrants to their program, how other investors and mentors critique startups at pitch practice, host office hours and meet a lot of entrepreneurs, and you get to invest alongside them in some of their deals. Regardless of how good or bad they are at picking winners, you get to learn, go see point 1 above. 8) Go to startup conferences Go see what people are doing in other markets, gain some market awareness, figure out who the guys in SF are that are 12 months ahead of the guys in Tulsa doing the same thing. You can spend quality time with a large number of founders, see a lot of deals and network with other investors at conferences. Here are the conferences I’m going to in 2017: _SXSW dedicates itself to helping creative people achieve their goals. Founded in 1987 in Austin, Texas, SXSW is best…_www.sxsw.com Startup Village - SXSW _It's been called 'the best technology conference on the planet'. But we just think it's different. And that difference…_collisionconf.com Collision _TechCrunch Disrupt is the world's leading authority in debuting revolutionary startups, introducing game-changing…_techcrunch.com Disrupt NY 2017 _VETCON is the veteran entrepreneur [vetrepreneur] conference, an annual gathering of visionaries, hustlers, and game…_www.veteranconference.com Welcome _We are excited to announce the arrival of Dallas Startup Week 2017. With a record breaking inaugural year, we are…_www.dallasstartupweek.com Dallas Startup Week 9) Write some relationship checks Get into some deals with established investors, preferably ones who can write follow-on checks (and who you can learn from). Some of the more well-established investors out there may think this is a waste of time, but I think getting access to partners at top funds to see my portfolio companies as they advance from seed to later stages is worth it. Plus you never know, that relationship check deal may turn out to be your unicorn. 10) Spend time with local startup community advocates Go find the 2–3 folks in your local startup community that are the cornerstones, the advocates for the community, the people that seem to be the most supportive and helpful to all founders. This can be bloggers in the startup ecosystem, or the CEO/owner of a co-working space, or an established founder/investor in the area. Spend time with those people, let them be deal flow sources for you, and let them tell you how you can help. 11) Go meet the dev shops Your local development shops are full of smart people, who have probably started businesses, invested in startups, held board seats, run businesses, helped struggling businesses along, and have a ton of insight into who is who in your local startup community. See #1 above, good relationships here are key to learning as much as you can. 12) Become an LP in a larger, later stage fund This relates to #1 a bit. Great learning tool. Also gives you increased exposure and lets you learn from watching more experienced investors from a front row seat. Most of these $50mm — $100mm funds will let you invest alongside in deals they lead so they can even end up helping you source some opportunities. New investors in the space often discuss how they can eventually get into deals with this famous investor or that fund. Frankly, the way to do it is partner with the generation of great investors early (be an LP in some first time fund managers’ funds). future We are in the game of identifying winners, so invest with, and in, the funds you think may be the future and . Then one day people will be wondering how you got into the club of folks who get all the best deals. You were early — shocker, that’s the name of the game! Andreessens Saccas 13) Spend time with other local investors There are inevitably a few angel investors in your market, and hopefully an institutional investor or two focus on early stage investing. At a minimum, there are some family offices that invest in early stage opportunities. These people can help you avoid the local zombie companies (startups that have been surviving, not thriving, for years). They can also help you with deal flow as well, considering they have developed their own deal flow funnels. Learn how they source, and what they look for, then pick and choose which parts of their process may work for you. In summary, this business (VC investing) is all about meeting people and learning. I think those are the independent variables in the equation of VC investing. Most everything else is a dependent variable (deal flow, deals done, returns, etc.). Follow Stephen on Twitter Contact Deep Space Ventures

I Raised A Venture Capital/Angel Fund, So Now What?

When I raised my first fund a year ago, there was no way I could have told you what I would learn during the first 12 months. This is an apprenticeship business, to some extent. You learn by doing, and from doing alongside experts. This helps to refine your judgment and taste when it comes to picking winners. You can gain the apprenticeship experience by working for an experienced VC, or by investing along-side them in my opinion. I didn’t have the chance to go work for a VC, so I raised my own fund and am learning from the best by investing with them. Venture Capital I’ve learned so much during the first 12 months of deploying capital at . Mostly I learned from mistakes, and from some great mentors that took time to show me the way. Some mentors were individuals I randomly bumped into at a bar and spoke with for 15 minutes (Chris Sacca at in NOLA), and some were investors who have taken an interest in helping me along. Below is a summary of just a few of the lessons learned during my first year. Deep Space Ventures Collision 7 Key Lessons Learned in My First-Year Investing in Startups: 1) You can learn a lot about how to be a good investor/partner/board member from founders. Founders have been the best resource for me in the last year. There is a therapeutic conversation that happens when founders and investors get together to share what they expect from each other in a relationship. Founders can teach you what they are looking for in a partner, and when you get into a competitive investing situation, that becomes very important. 2) Be obsessed with learning from everyone, about everything. If you stop learning, even for a second, you are going to get hurt by your blind spots. What are your blind spots? You can’t know yet. I constant identify new ones, and the rate at which I identify things I don’t know, far exceeds the rate at which I learn (maybe that’s a personal problem?). But I’m ok with the delta between those two frontiers (thinking of a line graph), because I can ask experts for help. I’m absolutely terrified of what I call “unidentified unknowns” and you should be too. 3) It’s ok to say “no”, and do it quickly. Nothing wastes more time for founders (or investors) than lingering around and not saying “no” efficiently and effectively. If you string founders along, then bad things happen. Think about it from their perspective, if 30–40 investors string them along just a little bit, it can waste weeks and months of time for a founder. That’s just not fair. 4) Don’t hesitate to admit inexperience or lack of knowledge. The ecosystem, and certainly at the seed stage, is a very open-sourced environment. Many people around you want to help you succeed including founders, other investors, accelerators, mentors, lawyers, etc. Their incentive to help comes from their need to see the ecosystem grow, so leverage that. Lean on them for advice and ask a lot of questions. startup 5) Trust your gut, before it gets colored by those around you. Hopefully you have good taste, and trusting your gut, is good advice. If you have bad taste, then I guess you will figure it out, eventually, and hopefully not at a high price, but likely so. I can’t say I have good or bad taste yet, because I haven’t had any proof (no exits — one year in). I’ll report back when I get a sense of how good or bad I am at picking winners. 6) Build relationships with other investors, even if you must buy your way in at first (in deals). I learned so much from other great investors and I would recommend to anyone, to get access to a few deals that great investors are in, so you can have a chance to learn from them first hand. Spending a fractional percentage of investment capital to get access to more deals, with better investment groups, could pay off in the long run. 7) You must become efficient with everything you do. Early on, I tried to take face to face intro meetings with almost everyone. Not efficient, obviously. I want to learn as much as I can about a business meeting them, with the intent of not wasting their time, or mine. Inefficiency leads to missing winners. Missing one winner, can be the difference between raising your next fund or being a one-time fund manager! before Follow me on Twitter @hazesyah Contact Deep Space Ventures

7 Lessons Learned in My First Year as a Venture Capital Fund Manager

GAINS Associates has announced the launch of GainsPad, heralding a new era in Web3 fundraising. With a legacy spanning six years, a fully transparent team, and an unrivaled track record exemplified by the success of Gains Private, the inaugural launchpad, the new platform is poised to redefine the landscape of Initial Decentralized Offerings (IDOs). As the team embarks on this journey, they invite individuals worldwide to join them in shaping the future of crypto fundraising. GainsPad presents a monumental opportunity, magnitudes larger than anything witnessed before in the IDO market. The team is not just offering a platform; they are fostering a community where participants can partake in life-changing deals, embodying the spirit of empowerment and inclusivity. What Are The Key Highlights? GainsPad introduces a novel approach to IDOs, focusing on accessibility and fairness while maintaining the highest standards of transparency and security. The platform boasts several key components designed to enhance the investor experience. Firstly, there is the ‘Refund Policy,’ which helps safeguard investors against unforeseen circumstances. The policy ensures peace of mind during the token launch phase. Next, there is the ‘Tiered System.’ With varying tiers tailored to different levels of engagement, participants can maximize their investment potential and increase their chances of securing allocations. Finally, there is the ‘Whitelist Process.’ Through engaging educational content and quizzes, the team streamlines the whitelisting process, ensuring that only knowledgeable and committed community members gain access to exclusive opportunities. Alongside maintaining strong foundational principles, the team’s approach entails a dual strategy: seizing opportunities within burgeoning trends ahead of their peak and investing in emerging narratives and ecosystems preemptively. They also possess the capability to transparently raise funds on-chain by leveraging a consortium of angel investors under one unified entity. Moreover, GAINS offers comprehensive support to various projects, including in-house marketing initiatives and facilitation of introductions to the platform’s expansive network encompassing over 250 Key Opinion Leaders (KOLs), different launchpads, venture capitalists (VCs), marketing agencies, news platforms, exchanges, and market makers (MMs). Strategic Partnerships GainsPad is proud to collaborate with industry-leading partners such as ETHDubai, Polygon, BNB Chain, and Trust Wallet. These partnerships underscore the team’s commitment to excellence and their dedication to providing unparalleled value to the community. GAINS also boasts distinguished advisors such as Walid Benothman, known for his role in driving growth at 1INCH, Evan Luthra, a prominent Indian influencer, and Jonathan Faye, whose extensive experience includes a decade at the $125B AUM ODDO BHF, where he transitioned from a legal background to lead Open Innovation initiatives. Additionally, $GAINS has recently secured a listing on a premier centralized exchange. Key Figures: Evan Luthra Evan Luthra, a renowned figure within the cryptocurrency and tech world, has been named twice by Forbes as part of their esteemed 30 under 30 list. His expertise spans across multiple domains, from his prolific work in tech entrepreneurship to his passion for nonfungible tokens. Evan has been recognised by prestigious platforms like Forbes and Entrepreneur Magazine, thereby highlighting his impact as both an angel investor as well as a tech influencer. He is also a tech visionary with an impressive track record of creating more than 30 applications by the age of 17, in addition to fueling the growth of over 500 Web3 companies. As a tech visionary, Evan’s influence extends to a market cap exceeding a whopping $100 billion. Evans has also been actively involved in the crypto space for years, successfully managing a cryptocurrency investment bank, as well as investing in projects such as Ripple and Hashgraph. Evan has also shared his knowledge globally through platforms like TEDx alongside various institutions, educating audiences on topics ranging from cryptocurrencies and blockchain to the future of decentralized autonomous organizations. Walid Benothman Walid's Leadership roles in companies like 1inch and Curv demonstrate his expertise in driving growth and strategy operations. Walid was also an early employee at Ripple. His strategic initiatives at both Curv and Ripple played a significant role in advancing the mainstream adoption of blockchain technology and cryptocurrencies, thereby culminating in the acquisition of Curv by PayPal. Furthermore, from management consulting to creating the inaugural digitally managed semi-professional football club in Paris, Walid’s entrepreneurial spirit and foresight have also led to groundbreaking ventures at a consistent level.\ Jonathan Faye Jonathan has over ten years of relevant experience within the world of finance, as proven by his work at the aforementioned ODDO BHF, a French-German investment bank with €150b AUM. Although he began as a lawyer, Jonathan nevertheless played an important part in M&A, regulatory affairs, and private equity as well as VC. Eventually progressing to Global Head of Open Innovation, Jonathan concentrated on shaping corporate VC strategy while simultaneously pioneering blockchain technology for a modern age, supporting ventures such as Coinhouse and Ledger. Presently, Jonathan is in charge of JonVenture, his own advisory firm, providing key guidance to early-stage startups by utilizing his passion and experience for both angel investment and Web3. Investment Opportunity As a decentralized community VC established six years ago, GAINS operates a launchpad for private sales. Notably, the platform has deployed over $35 million for more than 300 projects, featuring notable successes such as Bloktopia (x1000), Quant Network (x500), Avalanche (x300), and Hashgraph (x50). GAINS CEO, Alexandre Raffin, stated that “At GAINS, we are driven by a relentless pursuit of excellence and a steadfast commitment to our community. With the launch of GainsPad, we are democratizing access to groundbreaking projects and revolutionizing the way individuals participate in Web3 fundraising.” To participate in GainsPad's IDOs, individuals are required to stake a minimum of 1,000 $GAINS, with additional tickets awarded for every 250 $GAINS staked. The aforementioned tiered system offers varying levels of bonuses and incentives, ensuring that each participant is rewarded according to their level of engagement and commitment. About GAINS GAINS Associates is the world's first decentralized venture capital firm, providing individuals holding $GAINS with access to the most promising crypto projects. With over six years of experience and a history of ultra-high return deals, GAINS is shaping the future of DeFi. GAINS stands for ‘Group Action Is Never Small’, symbolizing the collaborative spirit that is the essence of blockchain and decentralization. For individuals seeking to invest in the next generation of crypto unicorns, GainsPad represents the ultimate destination. GAINS remains steadfast in its mission to remove entry barriers to investing and empower individuals to seize opportunities in the crypto space. With a proven track record and a commitment to excellence, there is no better time than now to get started with GAINS as they have a fully doxxed team, an impressive track record for their first platform, Gains Private, that was launched back in 2021, and the fact that the team is finally ready to tap into the IDO market, which is a 10-20x bigger opportunity with potentially massive returns up for grabs. Visit the official website for further information and join GAINS’ Telegram channel to engage with the team members who are dedicated to assisting customers every step of the way. For regular updates, check out the X, LinkedIn, Discord, Facebook, Instagram, Medium, TikTok, and YouTube channels as well. This story was distributed as a release by Btcwire under HackerNoon’s Business Blogging Program. Learn more about the program here. GAINS Associates has announced the launch of GainsPad, heralding a new era in Web3 fundraising. With a legacy spanning six years, a fully transparent team, and an unrivaled track record exemplified by the success of Gains Private, the inaugural launchpad, the new platform is poised to redefine the landscape of Initial Decentralized Offerings (IDOs). GAINS Associates As the team embarks on this journey, they invite individuals worldwide to join them in shaping the future of crypto fundraising. GainsPad presents a monumental opportunity, magnitudes larger than anything witnessed before in the IDO market. The team is not just offering a platform; they are fostering a community where participants can partake in life-changing deals, embodying the spirit of empowerment and inclusivity. What Are The Key Highlights? GainsPad introduces a novel approach to IDOs, focusing on accessibility and fairness while maintaining the highest standards of transparency and security. The platform boasts several key components designed to enhance the investor experience. Firstly, there is the ‘ Refund Policy ,’ which helps safeguard investors against unforeseen circumstances. The policy ensures peace of mind during the token launch phase. Next, there is the ‘ Tiered System .’ With varying tiers tailored to different levels of engagement, participants can maximize their investment potential and increase their chances of securing allocations. Refund Policy Refund Policy Tiered System Tiered System Finally, there is the ‘Whitelist Process.’ Through engaging educational content and quizzes, the team streamlines the whitelisting process, ensuring that only knowledgeable and committed community members gain access to exclusive opportunities. Alongside maintaining strong foundational principles, the team’s approach entails a dual strategy: seizing opportunities within burgeoning trends ahead of their peak and investing in emerging narratives and ecosystems preemptively. They also possess the capability to transparently raise funds on-chain by leveraging a consortium of angel investors under one unified entity. Moreover, GAINS offers comprehensive support to various projects, including in-house marketing initiatives and facilitation of introductions to the platform’s expansive network encompassing over 250 Key Opinion Leaders (KOLs), different launchpads, venture capitalists (VCs), marketing agencies, news platforms, exchanges, and market makers (MMs). Strategic Partnerships GainsPad is proud to collaborate with industry-leading partners such as ETHDubai, Polygon, BNB Chain, and Trust Wallet. These partnerships underscore the team’s commitment to excellence and their dedication to providing unparalleled value to the community. GAINS also boasts distinguished advisors such as Walid Benothman, known for his role in driving growth at 1INCH, Evan Luthra, a prominent Indian influencer, and Jonathan Faye, whose extensive experience includes a decade at the $125B AUM ODDO BHF, where he transitioned from a legal background to lead Open Innovation initiatives. Additionally, $GAINS has recently secured a listing on a premier centralized exchange. Key Figures: Evan Luthra Evan Luthra Evan Luthra Evan Luthra, a renowned figure within the cryptocurrency and tech world, has been named twice by Forbes as part of their esteemed 30 under 30 list. His expertise spans across multiple domains, from his prolific work in tech entrepreneurship to his passion for nonfungible tokens. Evan has been recognised by prestigious platforms like Forbes and Entrepreneur Magazine, thereby highlighting his impact as both an angel investor as well as a tech influencer. He is also a tech visionary with an impressive track record of creating more than 30 applications by the age of 17, in addition to fueling the growth of over 500 Web3 companies. As a tech visionary, Evan’s influence extends to a market cap exceeding a whopping $100 billion. Evans has also been actively involved in the crypto space for years, successfully managing a cryptocurrency investment bank, as well as investing in projects such as Ripple and Hashgraph. Evan has also shared his knowledge globally through platforms like TEDx alongside various institutions, educating audiences on topics ranging from cryptocurrencies and blockchain to the future of decentralized autonomous organizations. Walid Benothman Walid Benothman Walid Benothman Walid's Leadership roles in companies like 1inch and Curv demonstrate his expertise in driving growth and strategy operations. Walid was also an early employee at Ripple. His strategic initiatives at both Curv and Ripple played a significant role in advancing the mainstream adoption of blockchain technology and cryptocurrencies, thereby culminating in the acquisition of Curv by PayPal. Furthermore, from management consulting to creating the inaugural digitally managed semi-professional football club in Paris, Walid’s entrepreneurial spirit and foresight have also led to groundbreaking ventures at a consistent level.\ Jonathan Faye Jonathan Faye Jonathan Faye Jonathan has over ten years of relevant experience within the world of finance, as proven by his work at the aforementioned ODDO BHF, a French-German investment bank with €150b AUM. Although he began as a lawyer, Jonathan nevertheless played an important part in M&A, regulatory affairs, and private equity as well as VC. Eventually progressing to Global Head of Open Innovation, Jonathan concentrated on shaping corporate VC strategy while simultaneously pioneering blockchain technology for a modern age, supporting ventures such as Coinhouse and Ledger. Presently, Jonathan is in charge of JonVenture, his own advisory firm, providing key guidance to early-stage startups by utilizing his passion and experience for both angel investment and Web3. Investment Opportunity As a decentralized community VC established six years ago, GAINS operates a launchpad for private sales. Notably, the platform has deployed over $35 million for more than 300 projects, featuring notable successes such as Bloktopia (x1000), Quant Network (x500), Avalanche (x300), and Hashgraph (x50). GAINS CEO, Alexandre Raffin, stated that “At GAINS, we are driven by a relentless pursuit of excellence and a steadfast commitment to our community. With the launch of GainsPad, we are democratizing access to groundbreaking projects and revolutionizing the way individuals participate in Web3 fundraising.” GAINS CEO, Alexandre Raffin, stated that “At GAINS, we are driven by a relentless pursuit of excellence and a steadfast commitment to our community. With the launch of GainsPad, we are democratizing access to groundbreaking projects and revolutionizing the way individuals participate in Web3 fundraising.” To participate in GainsPad's IDOs, individuals are required to stake a minimum of 1,000 $GAINS, with additional tickets awarded for every 250 $GAINS staked. The aforementioned tiered system offers varying levels of bonuses and incentives, ensuring that each participant is rewarded according to their level of engagement and commitment. About GAINS GAINS Associates is the world's first decentralized venture capital firm, providing individuals holding $GAINS with access to the most promising crypto projects. With over six years of experience and a history of ultra-high return deals, GAINS is shaping the future of DeFi. GAINS stands for ‘Group Action Is Never Small’, symbolizing the collaborative spirit that is the essence of blockchain and decentralization. For individuals seeking to invest in the next generation of crypto unicorns, GainsPad represents the ultimate destination. GAINS remains steadfast in its mission to remove entry barriers to investing and empower individuals to seize opportunities in the crypto space. With a proven track record and a commitment to excellence, there is no better time than now to get started with GAINS as they have a fully doxxed team, an impressive track record for their first platform, Gains Private, that was launched back in 2021, and the fact that the team is finally ready to tap into the IDO market, which is a 10-20x bigger opportunity with potentially massive returns up for grabs. Visit the official website for further information and join GAINS’ Telegram channel to engage with the team members who are dedicated to assisting customers every step of the way. For regular updates, check out the X , LinkedIn , Discord , Facebook , Instagram , Medium , TikTok , and YouTube channels as well. official website official website Telegram channel Telegram channel X X LinkedIn LinkedIn Discord Discord Facebook Facebook Instagram Instagram Medium Medium TikTok TikTok YouTube YouTube This story was distributed as a release by Btcwire under HackerNoon’s Business Blogging Program. Learn more about the program here. This story was distributed as a release by Btcwire under HackerNoon’s Business Blogging Program. Learn more about the program here . here here

GainsPad Finally Launches And Ushers In A New Era Of Web3 Fundraising

Artisanal Power: How to Avert a Threatened Mass Casualty Event

Logos to onboard supporters to its network state technology stack with Bitcoin Ordinals collection and record-breaking block inscription. Bitcoin showed the world that an exit from state-monopolised institutions is possible even in hostile environments, proving that ‘exit’ is an effective catalyst for change. The Logos technology stack is designed to extend Bitcoin’s properties to enable the deployment of other governing institutions while preserving privacy across the design. To demonstrate our commitment to our principles and mission, we have inscribed our manifesto on the Bitcoin blockchain. Bitcoin validated the cypherpunk dream and inspired Logos. It is fitting that it will safeguard our vision for generations to come. Symbolically, our Declaration of Independence in Cyberspace is inscribed on a Nakamoto satoshi that was created in 2009 in block 3,479. Our inscription occupies the largest block to date — 3.969430 MB. Our homage extends to a collection of Bitcoin ordinals for our supporters. The collection of inscriptions, called the Logos operators, will serve as an entry point to the ecosystem that will enable people to exit the existing internet system and legacy governance institutions. The Logos stack's building blocks are intended to be live by the end of the year, including the basic functionalities of the Nomos Layer 1 on testnet. The Logos Exit Operator will deliver more information about the operator inscriptions over the coming weeks and months. Those interested in shaping the coming sovereign virtual territory can start here: exit.logos.co. The Logos technology stack Building sovereign digital communities such as network states requires architecting a scalable infrastructure and its core components. This infrastructure consists of a base-layer stack of technologies, which engineers can build on top of, adjacently to, and around. The technology stack includes — but is not limited to — a blockchain or consensus layer, a communication layer, and decentralised file storage. This article provides a high-level overview of each layer and how it contributes to network state development. Before unpacking those pieces, everyone must understand the critical considerations of network state infrastructure, especially for the Logos stack. These considerations include political neutrality and public goods development. Political neutrality in network states means the tech infrastructure fosters the development of network states that satisfy users' political or philosophical goals. In other words, a politically neutral stack permits engineers to build values directly into their network state vision, no matter the value. Principled development requires that the infrastructure remain private (where appropriate), decentralised, permissionless, open source, and accessible.
Public goods development means creating open-source technology that everyone can view, copy, augment, or modify — depending on if the community agrees via consensus on the network. The technology is nonproprietary and does not belong to any individual or group. This open development ethos creates an environment where it is unfeasible to build exploits, backdoors, or harmful algorithms into the tech. This public goods focus keeps the technology and all the actors involved honest. Anyone can quickly review the code, make changes, or blow the whistle on sketchy behaviour. Let us dive into the three main vital network state infrastructure pieces, starting with the blockchain layer. Blockchain layer The blockchain layer consists of the consensus and financial layers of the network state. A blockchain is a decentralised ledger that allows for private and trust-minimised transactions. This blockchain should also be adaptable and modularised, meaning engineers and developers can build network state institutions using the technology. The blockchain should easily interact with other blockchains and applications, creating a web of connectivity via the emergent web3 ecosystem. But what is web3? Chris Dixon of venture capital firm a16z says, "Web3 is the internet owned by the builders and users, orchestrated with tokens." In other words, web3 is the internet extended and amplified by blockchain technology, especially by using decentralised applications or "dapps" for short. But why do network states even need a blockchain layer? The purpose of a blockchain layer for network states is to finalise group decisions and generate proof of transactions. These transactions can include votes for network state membership, allocated shares, or a token for transacting within that network state. However, since the blockchain layer is a base layer, it is feasible for network states to mint their own unique tokens, shares, or other transactional instruments relevant to the tokenomics and governance of that particular network state. Furthermore, with the assistance of smart contracts, a blockchain can also be used to help build societal rules and execute certain agreements based on the network state's particular constitution or rulesets. Communication layer A network state also requires various communication efforts, especially between its members. This communication can be private or transparent, dependent on the aims and motivations of the users. For instance, members may need to interact with each other as a collective organisation and organise their activities in a way that leverages modern online messaging systems with additional privacy-preserving guarantees. The communication layer must also be peer-to-peer or fully decentralised to strengthen its censorship resistance and remain politically neutral. The communication layer should allow for human-machine or machine-to-machine communication. For instance, whenever someone interacts with the network state blockchain or their dapps, they need to make a 'handshake' and sign a transaction with that app to access it. This communication layer will enable all these types of communications and interactions with the network state web3 environment. Decentralised file storage Durable decentralised storage is another critical component of developing politically neutral public goods infrastructure. Currently, almost all data on the internet is stored via centralised servers and is prone to hacks and data leaks. These servers harbour a single point of failure. For network states to remain feasible and resistant to attackers, any files or data they contain must maintain adequate decentralisation. Decentralised file storage systems will use novel zero-knowledge encryption techniques for remote auditing purposes and novel bandwidth optimisations that make this type of node-based storage a reality. In a way, decentralised storage applications represent the infrastructure for a new kind of internet, where data does not accumulate in easily compromisable honey pots. Logos infrastructure and scalability design The team at the Logos collective are actively building the infrastructure for network states, including the blockchain layer, communication layer, and decentralised storage. They are called: Nomos: Private, sovereign, and modular blockchain
Waku: Private, censorship-resistant, scalable messaging
Codex: Censorship-resistant data storage offering data persistence The communication layer, Waku, is already functioning and used by various projects. However, scaling it remains a central challenge, along with the other layers that are currently in active development as part of the proof of concept. Currently, Waku cannot quickly scale to millions of people while preserving privacy. The same problem applies to the decentralised storage protocol, Codex, and the modularised blockchain layer, Nomos. However, once engineers resolve issues and make tradeoffs related to scalability for all infrastructure layers, entrepreneurs can freely build the network state of their vision on top of the Logos network state infrastructure. Want to learn more about Logos? Visit the website and follow us on X. Interested in the Logos ordinals collection? Visit the Exit Game. Logos to onboard supporters to its network state technology stack with Bitcoin Ordinals collection and record-breaking block inscription. Logos to onboard supporters to its network state technology stack with Bitcoin Ordinals collection and record-breaking block inscription. Bitcoin showed the world that an exit from state-monopolised institutions is possible even in hostile environments, proving that ‘exit’ is an effective catalyst for change. The Logos technology stack is designed to extend Bitcoin’s properties to enable the deployment of other governing institutions while preserving privacy across the design. Bitcoin showed the world that an exit from state-monopolised institutions is possible even in hostile environments, proving that ‘exit’ is an effective catalyst for change. The Logos technology stack is designed to extend Bitcoin’s properties to enable the deployment of other governing institutions while preserving privacy across the design. To demonstrate our commitment to our principles and mission, we have inscribed our manifesto on the Bitcoin blockchain. Bitcoin validated the cypherpunk dream and inspired Logos. It is fitting that it will safeguard our vision for generations to come. Symbolically, our Declaration of Independence in Cyberspace is inscribed on a Nakamoto satoshi that was created in 2009 in block 3,479. Our inscription occupies the largest block to date — 3.969430 MB. To demonstrate our commitment to our principles and mission, we have inscribed our manifesto on the Bitcoin blockchain. Bitcoin validated the cypherpunk dream and inspired Logos. It is fitting that it will safeguard our vision for generations to come. Symbolically, our Declaration of Independence in Cyberspace is inscribed on a Nakamoto satoshi that was created in 2009 in block 3,479. Our inscription occupies the largest block to date — 3.969430 MB. our manifesto inscribed Our homage extends to a collection of Bitcoin ordinals for our supporters. The collection of inscriptions, called the Logos operators, will serve as an entry point to the ecosystem that will enable people to exit the existing internet system and legacy governance institutions. The Logos stack's building blocks are intended to be live by the end of the year, including the basic functionalities of the Nomos Layer 1 on testnet. Our homage extends to a collection of Bitcoin ordinals for our supporters. The collection of inscriptions, called the Logos operators, will serve as an entry point to the ecosystem that will enable people to exit the existing internet system and legacy governance institutions. The Logos stack's building blocks are intended to be live by the end of the year, including the basic functionalities of the Nomos Layer 1 on testnet. Nomos The Logos Exit Operator will deliver more information about the operator inscriptions over the coming weeks and months. Those interested in shaping the coming sovereign virtual territory can start here: exit.logos.co. The Logos Exit Operator will deliver more information about the operator inscriptions over the coming weeks and months. Those interested in shaping the coming sovereign virtual territory can start here: exit.logos.co . Exit Operator exit.logos.co The Logos technology stack Building sovereign digital communities such as network states requires architecting a scalable infrastructure and its core components. This infrastructure consists of a base-layer stack of technologies, which engineers can build on top of, adjacently to, and around. The technology stack includes — but is not limited to — a blockchain or consensus layer, a communication layer, and decentralised file storage. This article provides a high-level overview of each layer and how it contributes to network state development. Before unpacking those pieces, everyone must understand the critical considerations of network state infrastructure, especially for the Logos stack. These considerations include political neutrality and public goods development. Political neutrality in network states means the tech infrastructure fosters the development of network states that satisfy users' political or philosophical goals. In other words, a politically neutral stack permits engineers to build values directly into their network state vision, no matter the value. Principled development requires that the infrastructure remain private (where appropriate), decentralised, permissionless, open source, and accessible. Public goods development means creating open-source technology that everyone can view, copy, augment, or modify — depending on if the community agrees via consensus on the network. The technology is nonproprietary and does not belong to any individual or group. This open development ethos creates an environment where it is unfeasible to build exploits, backdoors, or harmful algorithms into the tech. This public goods focus keeps the technology and all the actors involved honest. Anyone can quickly review the code, make changes, or blow the whistle on sketchy behaviour. Political neutrality in network states means the tech infrastructure fosters the development of network states that satisfy users' political or philosophical goals. In other words, a politically neutral stack permits engineers to build values directly into their network state vision, no matter the value. Principled development requires that the infrastructure remain private (where appropriate), decentralised, permissionless, open source, and accessible. Political neutrality Public goods development means creating open-source technology that everyone can view, copy, augment, or modify — depending on if the community agrees via consensus on the network. The technology is nonproprietary and does not belong to any individual or group. This open development ethos creates an environment where it is unfeasible to build exploits, backdoors, or harmful algorithms into the tech. This public goods focus keeps the technology and all the actors involved honest. Anyone can quickly review the code, make changes, or blow the whistle on sketchy behaviour. Public goods development public goods focus Let us dive into the three main vital network state infrastructure pieces, starting with the blockchain layer. Blockchain layer The blockchain layer consists of the consensus and financial layers of the network state. A blockchain is a decentralised ledger that allows for private and trust-minimised transactions. This blockchain should also be adaptable and modularised, meaning engineers and developers can build network state institutions using the technology. The blockchain should easily interact with other blockchains and applications, creating a web of connectivity via the emergent web3 ecosystem. But what is web3? Chris Dixon of venture capital firm a16z says, "Web3 is the internet owned by the builders and users, orchestrated with tokens." In other words, web3 is the internet extended and amplified by blockchain technology, especially by using decentralised applications or "dapps" for short. But why do network states even need a blockchain layer? blockchain Chris Dixon The purpose of a blockchain layer for network states is to finalise group decisions and generate proof of transactions. These transactions can include votes for network state membership, allocated shares, or a token for transacting within that network state. However, since the blockchain layer is a base layer, it is feasible for network states to mint their own unique tokens, shares, or other transactional instruments relevant to the tokenomics and governance of that particular network state. Furthermore, with the assistance of smart contracts , a blockchain can also be used to help build societal rules and execute certain agreements based on the network state's particular constitution or rulesets. smart contracts Communication layer A network state also requires various communication efforts, especially between its members. This communication can be private or transparent, dependent on the aims and motivations of the users. For instance, members may need to interact with each other as a collective organisation and organise their activities in a way that leverages modern online messaging systems with additional privacy-preserving guarantees. The communication layer must also be peer-to-peer or fully decentralised to strengthen its censorship resistance and remain politically neutral. The communication layer should allow for human-machine or machine-to-machine communication. For instance, whenever someone interacts with the network state blockchain or their dapps, they need to make a 'handshake' and sign a transaction with that app to access it. This communication layer will enable all these types of communications and interactions with the network state web3 environment. Decentralised file storage Durable decentralised storage is another critical component of developing politically neutral public goods infrastructure. Currently, almost all data on the internet is stored via centralised servers and is prone to hacks and data leaks. These servers harbour a single point of failure. For network states to remain feasible and resistant to attackers, any files or data they contain must maintain adequate decentralisation. any files or data Decentralised file storage systems will use novel zero-knowledge encryption techniques for remote auditing purposes and novel bandwidth optimisations that make this type of node-based storage a reality. In a way, decentralised storage applications represent the infrastructure for a new kind of internet, where data does not accumulate in easily compromisable honey pots. zero-knowledge encryption Logos infrastructure and scalability design The team at the Logos collective are actively building the infrastructure for network states, including the blockchain layer, communication layer, and decentralised storage. They are called: Logos collective Nomos: Private, sovereign, and modular blockchain Waku: Private, censorship-resistant, scalable messaging Codex: Censorship-resistant data storage offering data persistence Nomos : Private, sovereign, and modular blockchain Nomos Waku : Private, censorship-resistant, scalable messaging Waku Codex : Censorship-resistant data storage offering data persistence Codex The communication layer, Waku, is already functioning and used by various projects. However, scaling it remains a central challenge, along with the other layers that are currently in active development as part of the proof of concept. Currently, Waku cannot quickly scale to millions of people while preserving privacy. The same problem applies to the decentralised storage protocol, Codex, and the modularised blockchain layer, Nomos. However, once engineers resolve issues and make tradeoffs related to scalability for all infrastructure layers, entrepreneurs can freely build the network state of their vision on top of the Logos network state infrastructure. Want to learn more about Logos? Visit the website and follow us on X . website follow us on X Interested in the Logos ordinals collection? Visit the Exit Game . Exit Game

Logos Inscribes Manifesto in Biggest Ever Bitcoin Block

লোগোগুলি সর্বকালের সবচেয়ে বড় বিটকয়েন ব্লকে ম্যানিফেস্টো খোদাই করে৷

Logos schreibt Manifest in den größten Bitcoin-Block aller Zeiten

Logos inscribe un manifiesto en el bloque de Bitcoin más grande de la historia

Logos inscrit un manifeste dans le plus gros bloc Bitcoin jamais créé

लोगो ने अब तक के सबसे बड़े बिटकॉइन ब्लॉक में घोषणापत्र अंकित किया

ロゴス、史上最大のビットコインブロックにマニフェストを刻む

Logos는 사상 최대 규모의 비트코인 블록에 선언문을 새겼습니다.

Logos inscreve manifesto no maior bloco de Bitcoin de todos os tempos

Логотипы вписывают манифест в самый большой в истории биткойн-блок

Logolar Şimdiye Kadarki En Büyük Bitcoin Bloğunda Manifesto Yazıyor

Logos ghi tuyên ngôn trong khối Bitcoin lớn nhất từ trước đến nay

Logos 在有史以来最大的比特币区块中发表宣言

The headline might be a slight exaggeration — I'm not Elon Musk. However, I am bootstrapping a venture studio called Evernomic with a focus on the media industry. Our portfolio includes several newsletters, media brands, SaaS projects, service-based startups, high-authority websites, external contracts, and more. Evernomic is also quite a unique organization when it comes to our team and how we allocate our time and resources. Our team is now comprised of over 20 people, with the oldest being 26 years old and the average age is just over 21 years old. Such a young team has its advantages, but it also comes with the drawbacks associated with the stereotypes often held against younger people in business. At the end of the day, we don't have that chronological experience behind us, which also applies to time management. In addition, one value we all share is despising a future of becoming one-dimensional. We don't just aspire to be successful at business or any other aspect of life. We exercise and take care of our health, we spend much of our time learning new things, we like to socialize and make memories, we pay attention to how we present ourselves, and we pursue hobbies such as writing and public speaking. Now, this begs the question of how we manage our time so as not to fall behind on our responsibilities. Maintenance and Expansion Framework I have developed what I call the Maintenance and Expansion Framework. I divide my workload and things that require headspace into two categories: Maintenance: ongoing commitments requiring my continued attention on a regular basis that are necessary for me to keep going in the same trajectory. In short, these are things I must do to maintain my current progress.
Expansion: one-time or open-ended tasks that improve the overall condition of my life, whether it's in business, fitness, or happiness. This may sound controversial to openly admit, but I avoid commitments, otherwise defined as Maintenance Tasks, at all costs. That's the danger zone. It takes away from my ability to expand and take on more things when I'm faced with better opportunities in the future. I always prefer to leave some free margin to try new things, waste some time, let things go wrong without detrimental consequences, and so on. Therefore, I'm very picky with the things I commit to, and I try to minimize them. Conversely, I'm unafraid of the Expansion side of things. I can take on several things simultaneously as long as I know it will be over soon. The only decisions that truly concern me are those that lock me into a certain future. A typical day for me includes my daily routine, immediately tackling my Maintenance Tasks and later tackling three or four Expansion Tasks at a time. This division gives a game-changing order to my life. I know what the bare minimum of what I should be doing is, and it lets me focus on multiple domains within my life and business simultaneously. Collaborative Portfolio In addition to how I personally approach time management, our strategy revolves around creating a system that goes "full circle." This means that every project we take on must contribute in one way or another to other projects in our portfolio as well. I wrote a post some time ago about how, with this approach, we technically have more than 24 hours in a day because every hour we spend on one project also leads to some sort of progress for our other projects. To give you an example, we are planning on launching an ad network in the following months. What's the biggest challenge with such a business? Finding sufficient creators and advertisers to make the marketplace functional — the chicken and egg problem. Looking at companies who have been most successful at growing an ad network, such as Alphabet or Meta, they have always had at least one side of the equation satisfied prior. In Meta's case, they already had access to a large audience who were using their free products before they began rolling out advertisements. Over a year prior to our scheduled launch date, we acquired FindNewsletters.com, an authority newsletter directory. We have yet to make a penny off of this acquisition. However, we now have direct contacts with most newsletter creators, which gives us an extensive creator network to start with. Our job is now much simpler; we only need to find advertisers. Within Evernomic, we try to build similar systems and frameworks through which we push our projects that give us a streamlined and efficient approach. Moreover, tasks get delegated effectively, which minimizes commitments to low-yield tasks among our more experienced members. Naturally, focusing on so many things simultaneously has its drawbacks, too. I often fail to match deadlines, I often don't end up acting on plans I've had, and I often don't reach my goals. In fact, at any given moment, I'm probably not doing too well. However, I've learned that time has a magic of its own. Whenever I've looked back at my progress over a few months, I was pleasantly surprised. Now, I trust the process and keep pushing forward regardless. The headline might be a slight exaggeration — I'm not Elon Musk. However, I am bootstrapping a venture studio called Evernomic with a focus on the media industry. Our portfolio includes several newsletters, media brands, SaaS projects, service-based startups, high-authority websites, external contracts, and more. Evernomic is also quite a unique organization when it comes to our team and how we allocate our time and resources. Our team is now comprised of over 20 people, with the oldest being 26 years old and the average age is just over 21 years old. Such a young team has its advantages, but it also comes with the drawbacks associated with the stereotypes often held against younger people in business. At the end of the day, we don't have that chronological experience behind us, which also applies to time management. In addition, one value we all share is despising a future of becoming one-dimensional. We don't just aspire to be successful at business or any other aspect of life. We exercise and take care of our health, we spend much of our time learning new things, we like to socialize and make memories, we pay attention to how we present ourselves, and we pursue hobbies such as writing and public speaking. Now, this begs the question of how we manage our time so as not to fall behind on our responsibilities. Maintenance and Expansion Framework I have developed what I call the Maintenance and Expansion Framework. I divide my workload and things that require headspace into two categories: Maintenance: ongoing commitments requiring my continued attention on a regular basis that are necessary for me to keep going in the same trajectory. In short, these are things I must do to maintain my current progress. Expansion: one-time or open-ended tasks that improve the overall condition of my life, whether it's in business, fitness, or happiness. Maintenance: ongoing commitments requiring my continued attention on a regular basis that are necessary for me to keep going in the same trajectory. In short, these are things I must do to maintain my current progress. Maintenance: Expansion: one-time or open-ended tasks that improve the overall condition of my life, whether it's in business, fitness, or happiness. Expansion: This may sound controversial to openly admit, but I avoid commitments, otherwise defined as Maintenance Tasks, at all costs. That's the danger zone. It takes away from my ability to expand and take on more things when I'm faced with better opportunities in the future. I always prefer to leave some free margin to try new things, waste some time, let things go wrong without detrimental consequences, and so on. Therefore, I'm very picky with the things I commit to, and I try to minimize them. Conversely, I'm unafraid of the Expansion side of things. I can take on several things simultaneously as long as I know it will be over soon. The only decisions that truly concern me are those that lock me into a certain future. A typical day for me includes my daily routine, immediately tackling my Maintenance Tasks and later tackling three or four Expansion Tasks at a time. This division gives a game-changing order to my life. I know what the bare minimum of what I should be doing is, and it lets me focus on multiple domains within my life and business simultaneously. Collaborative Portfolio In addition to how I personally approach time management, our strategy revolves around creating a system that goes "full circle." This means that every project we take on must contribute in one way or another to other projects in our portfolio as well. I wrote a post some time ago about how, with this approach, we technically have more than 24 hours in a day because every hour we spend on one project also leads to some sort of progress for our other projects. To give you an example, we are planning on launching an ad network in the following months. What's the biggest challenge with such a business? Finding sufficient creators and advertisers to make the marketplace functional — the chicken and egg problem. Looking at companies who have been most successful at growing an ad network, such as Alphabet or Meta, they have always had at least one side of the equation satisfied prior. In Meta's case, they already had access to a large audience who were using their free products before they began rolling out advertisements. Over a year prior to our scheduled launch date, we acquired FindNewsletters.com, an authority newsletter directory. We have yet to make a penny off of this acquisition. However, we now have direct contacts with most newsletter creators, which gives us an extensive creator network to start with. Our job is now much simpler; we only need to find advertisers. Within Evernomic, we try to build similar systems and frameworks through which we push our projects that give us a streamlined and efficient approach. Moreover, tasks get delegated effectively, which minimizes commitments to low-yield tasks among our more experienced members. Naturally, focusing on so many things simultaneously has its drawbacks, too. I often fail to match deadlines, I often don't end up acting on plans I've had, and I often don't reach my goals. In fact, at any given moment, I'm probably not doing too well. However, I've learned that time has a magic of its own. Whenever I've looked back at my progress over a few months, I was pleasantly surprised. Now, I trust the process and keep pushing forward regardless.

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