Reading Time: ~ 2 min.
This massive thread is an important one for us as a community; a bit of a history lesson (our story as a community) as well as a somewhat controversial take on “Initial Coin Offering” — here you go:
To infinity & community,
This talk is everything — so, you should just watch it and that’s about it for Friday! Love you all. This was a good section re: “Category Kings” (which is what YEN is planning to do with all of your help):
Category Kings don’t just make something to sell people
Category Kings introduce the world to a new category of product or service
Category Kings replace our current point of view with a new point of view
And ultimately they change how people and businesses decide to spend their money
A few more notes:
Know your Moore’s Law, Power Law, and Metcalf’s law
Proprietary power is about avoiding the need to compete. It’s about monopoly power. Have an unfair advantage. “True” capitalism and competition are opposites. A capitalist is one who aggregates capital based on an unfair advantage. Being different is the best strategy. Perfect competition is not perfect. Mindless competition is pervasive in Silicon Valley. Can it be a monopoly if it works? Is there a structural competitive advantage, not just a first-mover advantage?
Product power is about product-market fit. Why now is a good question to ask. In a great market, a market with lots of real potential customers, the market pulls product out of the startup. Conversely, in a terrible market, you can have the best product in the world and an absolutely killer team and it doesn’t matter, you’re going to fail. The #1 company-killer is lack of market.
Company power is about preparing for rapid scaling.
Category power captures the value from changing spend.
Let’s win the internet, together.
A bunch of lawyers wrote this and it’s crazy bad (that’s just my hot-take). But, if you want a chuckle, go for it!
Have a good one folks! And a great weekend!