A thread on @theBlockcrunch's backstory.

Figured there may be a lesson for young people without highly differentiable skills trying to get their start in crypto.

For anyone interested...
1/ I grew up in local schools in Hong Kong - that means everyone wanted to be a doctor or lawyer.

There was 0 startup culture, no one talks about tech, no one's building the next unicorn.
2/ So when I got to the US for college, I was completely blown away by the startup fever.

Everyone was trying to become the next Zuck, and virtually everyone had a startup idea lol
3/ I wanted desperately to get into "startups" (whatever that meant), but there wasn't any defined path or coursework.

So I started cold emailing busy startup CEOs for "coffee chats". Obviously no one said yes...
4/ I realized I had to offer something before asking for someone's time.

I wasn't rich so couldn't offer capital. Wasn't connected so couldn't offer access. Didn't have a work visa so couldn't offer labor.

All I had was maybe being semi-literate...so I started a blog
5/ After googling "startup blog" I realized there's probably more blogs about startups than actual startups.

I had to differentiate...so I thought, "instead of starting my own thing, why don't I leverage someone else's platform?"

I decided to cold email every publication.
6/ To my surprise, a direct email to @ariannahuff (whose email I guessed lol) actually got a response.

I still cringe at this email, but Arianna was kind enough to offer me a spot as a columnist on the HuffPost blog.
7/ So armed with the "I can write about your startup on the HuffPost" card, I started interviewing all the interesting founders I come across.

Eventually, I bumped into @etarczynski. Eric was starting a Dorm Room Fund competitor (@contrarycapital), and needed partners.
8/ At that time, I was interning at Bridgewater, where I deepened my interest in a career in investing.

When Eric asked if I wanted to help start Contrary on the phone one night after work, I said yes on the spot

(I swear this is related to @theBlockcrunch, just hang on)
9/ The next year, I learnt the basics of venture investing, and fell in love with the idea of a career where you spend most of your time learning from people smarter than you.

To come full circle, we even invested in a company I first interviewed for HuffPost 😄
10/ Somewhere along the way, I discovered crypto and it had me hooked completely.

After reading @cburniske's book, and seeing my fellow Contrary partner @bennybitcoins yolo into crypto (and absolutely crushing it), I knew I had to get involved somehow.
11/ I went to every event I could on weekends, got to meet some interesting people in the NYC crypto scene, and almost everyone was welcoming.

But crypto can also be "clique-y". If you're not a dev nor an investor, people may not want to waste time speaking with you.
12/ So, I decided to do the same thing I did back in college - offer people a platform.

But around the same time, HuffPost rugged pulled all of its bloggers when rebranding the site, and I no longer had access to the platform as a columnist.
13/ Back then, I listened to @HarryStebbings's podcast a lot (one of the best shows on venture investing).

I realized there wasn't an investing focused show on crypto, and decided to start @theBlockcrunch.
14/ I did the same thing I did before: cold-emailed every fund manager I could find on Twitter (mostly by guessing their emails).

@AdamDraper was kind enough to not be creeped out, said yes, and I'll forever be grateful to Adam for being the first guest!
15/ In the 3 years that followed, the show grew to one of the largest shows in crypto.

Thanks to the generous support from friends like @bonkat, I was able to travel and interview cutting edge projects (like @solana @aeyakovenko back in 2018!)

16/ Even though the show was taking up all my time and brought in $0, the hundreds of hours in researching and meeting people did not go to waste.

It gave me the confidence in jump into investing full time when I met @SpartanBlack_1 at the depths of the bear market in 2018.
17/ To this day, @theBlockcrunch has been an amazing pipeline for hiring, potential investments, even raising capital.

Regardless of where the market goes, Blockcrunch will continue to be a free resource for anyone who wants to learn about crypto in depth.
18/ For young people hoping to break into crypto - the takeaway here is that you don't really *need* anything to break into the industry.

I'm not an engineer, not a designer and didn't have a decade long track record in investing or finance - all I wanted to do was learn.
ps/ To *really* come full circle, @sanlsrni recently joined me and started contributing to @theBlockcrunch in our bi-weekly news recap. I found out later that Saneel was also part of @contrarycapital but a few years after me 🤯

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with Jason Choi

Jason Choi Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @mrjasonchoi

23 Jun
Fixed income: the next big opportunity in DeFi?

A thread 👇
1/ While a nascent vertical in DeFi, fixed income is a *massive* market in legacy finance.

The estimated size of global fixed income instruments today is more than $120 TRILLION.
2/ Fixed income is a broad term referring to everything from treasury bills and corporate bonds.

The basic idea is financial instruments that generate a fixed interest to holders.

Contrast this with lending on @AaveAave, where your interest is variable.
Read 9 tweets
20 May
Are whales cashing out of $BTC?

What about $ETH?

Let's take a look at the data.
1/ From the run up from $17K - $60K, addresses with more than 10K $BTC have been falling.

From January to April when $BTC almost doubled in price, there was a roughly 10% reduction in mega whales.

Because the number is so low and may contain exchange addresses it's a bit fuzzy.
2/ Addresses with >1K $BTC ($40M currently) is likely more representative of "whale"/ long term believers.

This was a sharper bunch and basically started selling around $38K, all the way to the top.
Read 13 tweets
16 May
Risk appetite for young full time traders/investors in crypto
1/ I remember reading about a prominent tradfi HF who would give greener analysts more discretion in sizing, since they had no fear vs. grizzled PMs

Fearlessness came from not having lived through extended bear markets and not almost losing your job.
2/ In crypto, I used to think the insane risk appetite investors in their 20s have is because greener investors don’t have the experience of handling big crashes (eg 90s tech bust, 08 crisis).

But crypto had 4 cycles already, with more -60%+ mini cycles for specific sectors!
Read 10 tweets
13 May
Thoughts on DeFi prices
1/ While the dog coins, fancy launch videos and Tiktok memers are finding new and creative ways to bankrupt retails...

Crypto's MOST used projects have been growing at an exponential pace.
2/ Some of the DeFi protocols now generate more fees in a day than #Bitcoin - an almost trillion dollar asset.

These fees are paid by genuine users - NOT staking rewards paid to maintain empty blocks.
Read 9 tweets
1 Apr
It's been a fun few years running the @DegenSpartan account, but I'm officially retiring it.

Some hints I've dropped along the way...
1/ I created the DS handle as a satirical alter-ego of my main account...hence a "degen" version of Spartan, as in Spartan Capital.

I thought it was a dead giveaway but no one caught it, so I ran with it...
2/ Over time I started tweeting about projects like Synthetix, often within minutes of posting on my main and on @DegenSpartan.

Some people started to notice...
Read 7 tweets
30 Mar
Everything seems to be converging towards DAOs.

Last cycle, governance barely advanced beyond intellectual masturbation. This time round it's a dire necessity given the value locked in DeFi alone!

Some names I'm reading up on...
$ANT @AragonProject - the OG. Token is too rich relative to main use case around courts imho though

$EGT @ElasticDAO - like that it ties token value directly to treasury creatively, but min minting size likely prices out a lot of people now
$GEN @daostack - token has an actual use case around proposal vetting. However liquidity is virtually non-existent

$HAUS @nowdaoit - concept of UberHaus is compelling and likely increasingly important when DAOS proliferate. Token on xDAI, not much liquidity
Read 5 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!

:(