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Li Jin Profile picture
@ljin18
Jul 2, 2020 • 4 tweets • 2 min read • Read on X
The solution to cancel culture is the Passion Economy.

Being directly supported by 1000 or 100 true fans is far less risky than having a single employer.
After I wrote 100 True Fans, lots of folks asked, "Isn't this model risky? Losing 1 fan is a huge portion of income."

But traditional employment is like having only 1 true fan. People can lose 100% of income w/ recession, cancellation, or for any reason!
a16z.com/2020/02/06/100…
We're moving from the traditional single-employer model to the passion economy model. Having multiple income streams & side hustles is preferable because, as cancel culture and covid have shown, a single employer leaves one exposed. A traditional job is reliable... until it's not

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More from @ljin18

Li Jin Profile picture
May 21
In my last tweetstorm on crypto and AI’s intersection, I described projects that are applying crypto to solve AI problems.

Today, I’ll outline the second category: companies that are applying AI to crypto.
AI's application to crypto parallels the broader impact we’re already seeing AI and LLMs have on the non-crypto world:

Creating a new user interface for computing; helping content creators in their creative processes; helping enterprises enhance their operations
The category of projects applying AI to crypto can be segmented by GTM: consumer, creator, or developer-facing.

On the consumer side, projects are building:
- AI interfaces for users (e.g. a natural language interface for wallets to do things onchain)
- AI trading agents and strategies
- Valuation models (e.g. Upshot with NFTs)
- User-owned AI DAOs (e.g. @hollyplusp_ voice model, @BottoDAO)
- Onchain AI games (e.g. @ModulusLabs’ Leela)
Read 8 tweets
Li Jin Profile picture
May 15
I've been spending a lot of time at the intersection of AI and crypto. We believe the coupling of the two is critical to making AI more equitable and user-owned.

Sharing quick thoughts about what we’re seeing:
Projects at the intersection of AI x crypto fall into two broad categories:

1) Applying crypto to solve AI problems
2) Applying AI to solve crypto problems
Because the market for AI overall is larger today than the world of crypto, most companies are focused on (1) applying crypto to AI.

That said, applying AI to crypto (2) can help expand the pie by making crypto easier to use and interact with.
Read 10 tweets
Li Jin Profile picture
Sep 26, 2023
A metric that I like to ground convos about crypto in is that Ethereum just crossed 245m cumulative unique addresses. Meanwhile, the internet had 248m users in December 1999.

We're at December 1999 levels in terms of onchain activity
December '99 was just months before the dot-com bubble burst, and many well-funded, hyped businesses failed and shut down

Many of those businesses actually had great ideas, but were just too early: drkoop -> WebMD; Webvan -> Instacart; -> ChewyPets.com
1999 was also years before we got the major companies of the web2 era -- FB in 2004, MySpace in 2003, YT in 2005 -- that gave users lots of reasons to spend time online
Read 4 tweets
Li Jin Profile picture
Apr 4, 2023
Psychological ownership -- or making users feel like owners -- is the missing ingredient to unlock retention and sustainability for web3 projects.

My new piece is out with @HarvardBiz

li.substack.com/p/building-psy…
Psychological ownership is the feeling of possession or "mineness" over a product/service. It’s distinct from legal ownership: you can *feel* like an owner without actually owning something (my sports team, my social media profile), and vice versa.
Psychological ownership is important for product builders because it changes behavior. It can increase loyalty, word-of-mouth growth, and willingness to pay. In digital communities, feeling ownership leads to increases in satisfaction, self-esteem, and contribution quality.
Read 20 tweets
Li Jin Profile picture
Mar 27, 2023
Lots of thoughts about the TikTok hearing last week:

- it's horrifying to see the level of knowledge that lawmakers have about the internet/tech ("Does TikTok access users' home wifi networks?" was a real q that was asked)
- a ban of TikTok will leave 150m users orphaned, as well as 5m SMBs that use it to grow organically

- less competition among social media companies -> worse for creators & users. e.g. TikTok pioneered the Creator Fund and sparked a slew of competitors (Reels, Snap, Pinterest)
- users spend on average 95 mins/day on TT. that's a huge vacuum of time. lots of opportunity for new social media entrants

- TikTok's algo provided "universal basic distribution," or the chance for any video to be discovered, which was much harder on legacy social media
Read 4 tweets
Li Jin Profile picture
Mar 24, 2023
NEWS!

We’re excited to announce the inaugural Variant Founder Fellowship: a three-month cohort-based program for web3 founders at the earliest stages of their journey:

variant.fund/variant-founde…
Variant is proud to support some of the top projects in the ecosystem, which are part of our Variant Network, a peer learning community comprised of the founders and leaders across our portfolio.
We’ve found that a network-based learning model is the most effective way to elucidate emerging playbooks and best practices for building in web3.

The Variant Founder Fellowship invites a cohort of emerging founders to build & learn alongside Variant’s portfolio founders.
Read 7 tweets

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