- Coin Price
- Coin in Circulation
- USD Market Cap
375 days ago, March 24, 2022, I seeded and said hello. Look, it took YEARS for other social platforms to come on and make a splash - to grow exponentially. In a year, I saw the hype, the slow down, the changes, the evolution, for better and for worse. But this is a fetus. It can barely roll over, let alone crawl, walk, run, jump, and leap. I see the vision.
There's just a ton more to do.
And it's all part of business. You don't change an industry with copy, paste, and adding a feature here and there.
The grind that this team put in is admirable. 🧵
How hard is it to build a successful software company? 🧰
.58% chance that a software company will be able to bring in $4B in revenue. 💰
There’s a chance. 🎲
Having a big company is great but as you grow it gets harder to turn the battleship. 🚢
Don’t hire just because you can. 📢
When starting up and scaling teams, this is the typical process:
1/ everyone doing everything 🕸
2/ few managing, everyone still doing everything 🛰🌐
3/ few managing, the rest doing 🧭⚒️
4/ few executives, few managing, the rest doing 👥🧭⚒️
A business’ culture dramatically changes 🔺
From $0 revenue to $1M; 💰
And from 1-14 to 15-100 people. 👥
As you scale in either, 📈 processes must evolve along with it. If not, internal challenges begin to develop.
Don’t assume what previously worked will continue. ⏰
Big companies are generally better at scaling. Small companies are better at innovating.
You want both: big company structured with small teams.
🔑 Acquisitions - a key to monopolizing
🛍️ A true decentralized social doesn't acquire companies. It acquires talent to build on the platform (permissionless).
👷 It draws talent based on openness of source code (trust).
🧩 It grows not on financial power, but on innovation.
To understand likely sources of business MISALIGNMENT it’s important to distinguish 3 roles:
💰Ownership-who legally owns company equity.
🚙Possession-who actually runs the company on a daily basis.
🚦Control-who formally governs company affairs.
Characteristics of monopolies:
Proprietary technology 📦
Network effect 🕸
Economies of scale 📈
Use this to analyze your business for durability.
In physics the state of equilibrium, where all states are at rest, is the heat ‘death’ of the universe.
This is a metaphor for business.
I’m business equilibrium means stasis ie death.
When closing in on equilibrium, ease, complacency...