Founders

focusing too much on current market size is always a mistake. The best companies create or significantly expand their market

imo friction is a major reason why more ~companies don't yet operate on the new open, global financial system

securing your money, fundraising, earning yield on idle cash, accepting payments, analyzing your customer base, even complying w local regulation (e.g. accounting, taxes) -- these things all have the potential to be 10+x better onchain than offchain, but they just aren't today. Working on it though

Tobi Lutke explains what the VCs who passed on Shopify got wrong

Tobi recounts pitching Shopify to VCs on Sand Hill Road a few years after founding Shopify.

Investors passed because they thought the addressable market was too small. At the time, there were about 40,000-50,000… https://t.co/OZSnXhtVFL

Startup Archive

focusing too much on current market size is always a mistake. The best companies create or significantly expand their market

imo friction is a major reason why more ~companies don't yet operate on the new open, global financial system

securing your money, fundraising, earning yield on idle cash, accepting payments, analyzing your customer base, even complying w local regulation (e.g. accounting, taxes) -- these things all have the potential to be 10+x better onchain than offchain, but they just aren't today. Working on it though

https://x.com/StartupArchive_/status/1779477221788561734

People are way too glum about lack of crypto adoption. We've actually come a long way in a short time.

Let me share our story.

We're a media company with a simple business model - subscriptions and sponsorships. 

We now run 70% of Bankless onchain and i actually love it. That's up from probably 20% when we started.

THINGS WE DO IN CRYPTO

Ethereum is our primary bank.

Safe is our bank vault - access controls, limits. I can't understate how much safe has improved over the past few years - 10x better than any bank interface.

Etherscan for bank statements - all our balances - all our transactions - I can't understate the value of etherscan - we've been DAUs since forever

Metamask, Rabby, Uniswap wallet as our checkbooks - our finance ppl use these to sign transactions from our vault or make payments

USDC for cash - we pay salaries, bills, and taxes in fiat so keep short-term treasury in stablecoins

[Continued in thread]

splits

sign up for Teams here: https://splits.org/teams/

https://warpcast.com/rsa.eth/0xe2b388b6 Bankless today is like tobi, willing to jump through the many existing hoops to live in the new paradigm. For everyone else, Teams will make meeting all of these needs frictionless

https://warpcast.com/rsa.eth/0xe2b388b6 Bankless today is like tobi, willing to jump through the many existing hoops to live in the new paradigm. For everyone else, Teams will make meeting all of these needs frictionless

https://warpcast.com/w/0xa445cecf

I wish there was a product for founders that was simply called "money"

- banking, payroll, frontend payments, accounting, etc etc

Have everything rolled into one service - and make it crypto native

Sounds like you're building this 👇 https://warpcast.com/vinayvasanji.eth/0x62130290

If so, count me in

everyname (acq. Q4 '23)

editor [redacted]