Content
@
1 reply
0 recast
2 reactions
Scott Kominers
@skominers
I had a fantastic time talking with this year's @a16zcrypto Crypto Startup Accelerator (๐๐ฆ๐ซ) cohort as part of the Research Team sessions on Tuesday! Here are three ๐บ๐ฎ๐ฟ๐ธ๐ฒ๐ ๐ฑ๐ฒ๐๐ถ๐ด๐ป ๐๐ฎ๐ธ๐ฒ๐ฎ๐๐ฎ๐๐ from my part of the conversation: ๐๐งต
4 replies
2 recasts
12 reactions
Scott Kominers
@skominers
1โฃ ๐ช๐ถ๐๐ต ๐บ๐ฎ๐ฟ๐ธ๐ฒ๐๐ฝ๐น๐ฎ๐ฐ๐ฒ๐ ๐ฎ๐ป๐ฑ ๐ฝ๐ฟ๐ผ๐๐ผ๐ฐ๐ผ๐น๐ ๐ฎ๐น๐ถ๐ธ๐ฒ, ๐๐ต๐ฒ ๐ผ๐ฝ๐๐ถ๐บ๐ฎ๐น ๐๐๐ฟ๐ฎ๐๐ฒ๐ด๐ ๐ถ๐ ๐ผ๐ณ๐๐ฒ๐ป ๐๐ผ ๐๐๐ฎ๐ฟ๐ ๐ฏ๐ฟ๐ผ๐ฎ๐ฑ, ๐๐ต๐ฒ๐ป ๐ป๐ฎ๐ฟ๐ฟ๐ผ๐, ๐ฎ๐ป๐ฑ ๐๐ต๐ฒ๐ป ๐ฏ๐ฟ๐ผ๐ฎ๐ฑ๐ฒ๐ป ๐ฎ๐ด๐ฎ๐ถ๐ป. Starting broad gives you the space to find product-market fit โ identifying the users who have the strongest demand for the category of transaction you enable (measured in terms of value creation). But then once you find those early adopters, focusing on them lets you optimize the business model, after which you can scale by expanding scope to adjacent use cases.
2 replies
0 recast
1 reaction
Scott Kominers
@skominers
2โฃ ๐ช๐ฒ๐ฏ ๐ฎ ๐ฝ๐น๐ฎ๐๐ณ๐ผ๐ฟ๐บ๐ ๐ฎ๐ป๐ฑ ๐๐ฒ๐ฏ๐ฏ ๐ฝ๐ฟ๐ผ๐๐ผ๐ฐ๐ผ๐น๐ ๐น๐ฒ๐๐ฒ๐ฟ๐ฎ๐ด๐ฒ ๐ป๐ฒ๐๐๐ผ๐ฟ๐ธ ๐ฒ๐ณ๐ณ๐ฒ๐ฐ๐๐ ๐ถ๐ป ๐ฑ๐ถ๐ณ๐ณ๐ฒ๐ฟ๐ฒ๐ป๐ ๐๐ฎ๐๐. Platforms have historically benefited from creating "walled gardens" to lock in their advantage over competitors. Protocols, by contrast, establish competitive advantage by becoming embedded in as many applications as possible โ and that means they should explicitly support third-party development.
1 reply
0 recast
0 reaction
Biji
@biji
Do you have an example?
0 reply
0 recast
0 reaction
