Today’s hiring process is broken In the future, you'll be able to apply for a job and start working 60 seconds later Thread: How NFTs will change hiring forever:
The future of startups: - Privacy-first - Community-first - Sustainability-first - Creator-first - Decentralized-first - Digital-first Bookmark this list. Print it out This is where the world is going
Mental models are the secret to making the best out of the world around you But there is a million of them... A guide to my favorite mental models:
Group chats are the most fun part of the internet right now - Be yourself, no need to perform - Competing for likes is getting old - Real-time *private* feedback on whatever is on your mind 2019 is the year of the group chat
Social apps are beginning to look more like video games, and video games are starting to look more like social apps Houseparty adds gaming and Fortnite is double-downing on group chat and voice There is a convergence happening and it's happening fast
Today’s social internet: - Broadcast - Ad-driven - Small # of incumbents - Highly curated Tomorrow’s social internet: - Group chat, multiple identities - Paid monthly sub - Audio, video, avatar first - Successful mid-size apps - Highly raw The future couldn't come sooner
Tools for the remote workforce are still in the early days One nascent area: how do you build camaraderie in a remote team? - How do you welcome new employees? - What's the equivalent of "team outings"? Camaraderie builds trust and trust is the foundation of any great team
Some keys to building a big company: 1. Unique point of view on the world 2. Clear product north star 3. Team has a true sense of purpose (the greatest multiplying motivator) 4. Ample runway 5. Great timing 6. Efficient product builders 7. Brand resonates
IRL > URL It's now cool to be off Instagram, on do-no-disturb mode etc. The next generation of popular social apps will be socially engineered to connect you quickly in person, instead of glued to your phone Finally 🎉
Whoever figures out how to recreate the social dynamics of a club in a mobile/web app (avatar, 3D interface etc), will have just built a new major consumer social company The time is now
Some MAJOR opportunities in social right now: - Virtual gatherings - Livestreaming apps with built-in monetization - New internet communities that are designed to earn or learn - Games as social platforms (ie: Animal Crossing) Pick a vertical & build a minimum VIRTUAL product
If you want to reduce churn, build a vertical social network If you're at a great party with all your best friends, you don't want to leave Stronger the community, lower the churn
It's the golden age of the friend-of-friend social network (ie: Houseparty, Clubhouse, Roblox): - Spontaneous - Fluid, less permanent - Intimate - Your people - Want to be seen, be heard, hang out Lots to be built here
The future of social is: - Group-first, broadcast-second (ie: Discord, Clubhouse) - Has "opening hours:" app changes based on time of day (ie: HQTrivia) - Pseudonymous - Elements of surprise - Status and reputation even more important - Come for tool, stay for vertical network
A few founder superpowers: - Knowing which questions to ask - Listening before talking - Speaking in analogies - Being able to take feedback - Uninterested in what competition is doing
The 3 steps to build an internet community: 1) Start by building an audience (Instagram, newsletter etc) 2) Convert your audience into a community 3) Serve your community
Large communities = not always monetizable Loyal communities = highly monetizable When you get to minimum loyal community (MLC), very sustainable businesses are created
How to beat Amazon with your e-commerce startup: - Allow customers to monetize - Add live group classes to promote connections - Compete on community, not price - No sponsored ads - Offer high-quality courses - Extra niche, highly curated - Make it feel like a video game
The future of building startups is: - MVP speed (multiple per year) - Community first, software second - Bootstrapped to begin, VC maybe - Remote-first - Build-in-public (if it makes sense) - Mental health priority, hustle second - Diverse teams
The startup founder cheat sheet: - Get an executive coach - Get lots of rest - Be generous with equity - Don't over optimize on valuation - Over optimize on team - Great design pays in spades - Stay positive - Remember it's all an adventure - etc.
🚨 THREAD M&A 101: M&A is such a crucial part of startups, yet it is so taboo to talk bout the ins and outs of this process Sharing some lessons I’ve learned here selling multiple companies Let’s talk M&A!
The future of winning startups are: - Privacy-first - Community-first - Sustainability-first - Creator-first - Digital-first If you bet against these trends, you'll probably lose
The internet is having a renaissance moment: - Decentralization - Communities galore - New financial infrastructure - Social startups are back Anything is possible. It's incredible Who else is excited?
2 criteria for success: 1) you’re happy 2) you’re making other lives better
When dealing with someone upset, think: Have they slept, eaten, or been bothered by someone? Sensitivity to people is a superpower
How to build relationships: - Don’t dismiss people - Don’t be a jerk - Don’t rush - Don’t interrupt Be positive & kind
Good questions to ask yourself everyday before bed: - What have you done today to help someone - What is something nice that someone has done for you - What did you learn - What can I do to be better tomorrow?
How to generate great startup ideas: 1. Start a community 2. Grow the community 3. Let the community inspire you with ideas 4. Notice the ideas My point: communities are the "secret weapon" to startup ideas that people want
Build a double-sided referral program 1. Reward current customers ($10 off your next purchase) 2. Reward prospects ($10 when you sign up) Everybody wins
What would Y-Combinator look like if it was created today? If YC was created today, it would be: - Remote-first - A tokenized community for founder support - Partnered with creators - Cohort-based courses for learning - DAO - Beautiful spaces all over the world to collaborate