A Quote by Brock Pierce
Before Blockchain Capital, I was cranking out startups like an incubator.
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What's really happening is that every bank in the country is experimenting with the blockchain and experimenting with bitcoin to figure out where the value is. For the first time ever, they're working hand in hand with startups. Banks are asking startups for help to build products.
Blockchain Capital was the first dedicated venture fund to invest in crypto and blockchain.
Blockchain startups are suffering from a crippling, archaic, and antiquated state regulatory system - and it's driving innovation abroad. Many blockchain start-ups trigger or may trigger money transmitter laws and regulations.
As a serial investor who has raised hundreds of millions of dollars for startups, I know that the business plans coming out of incubators tend to be vetted and more thoroughly validated. The incubator's input into your business plan will make you look far more polished and experienced - even if you have never run a business before.
Startups have finite time and resources to find product/market fit before they run out of money. Therefore startups trade off certainty for speed, adopting 'good enough decision making' and iterating and pivoting as they fail, learn, and discover their business model.
Access to capital is important for all firms, but it's particularly vital for startups and young firms, which often lack a sufficient stream of earnings to increase employment and internally finance capital spending.
Blockchain is like the new big data or AI - too many people are using it as a buzzword and not focused solving a real problem. We like to call them Blockchain tourists!
It's much easier for non-Indian companies to raise capital because they have profitable markets elsewhere. You might call it capital dumping, predatory pricing, or anti-WTO, but it's a very unfair playing field for Indian startups.
Cultivating a global incubator network would help people from all backgrounds bring creative ideas to market and launch startups that generate more jobs - and would also align to the growing interest among youth for entrepreneurship.
There's nothing wrong with raising venture capital. Many lean startups are ambitious and are able to deploy large amounts of capital. What differentiates them is their disciplined approach to determining when to spend money: after the fundamental elements of the business model have been empirically validated.
Was I going to start companies outside of Shutterstock or inside? Going public kind of meant I was going to start them inside, and I kind of thought this through and decided that if I was going to do that, I was going to continue to operate Shutterstock like it was an incubator of startups.
I'm not afraid of just cranking it out and seeing what comes out of my subconscious. Because I don't always know what I'm feeling. I do a lot of rewriting later. But that first blast feels like a spigot - like it's coming from somewhere else.
I've gotten into the habit of cranking out a set of push-ups before each show to get my blood pumping and find my focus. I worked my way up from eight to 30. That was a real accomplishment.
Before, companies and startups had to lay up all this capital for data centers and servers, and take your scarce resource, which in most companies is engineers, and have them work on the undifferentiated heavy lifting of infrastructure. What the cloud has done is completely flipped that model on its head so that you only pay for what you consume.
The thing that I often ask startups on top of Ethereum is, 'Can you please tell me why using the Ethereum blockchain is better than using Excel?' And if they can come up with a good answer, that's when you know you've got something really interesting.
t0 is blockchain-agnostic so, ultimately, we can use anybody's blockchain.
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