A big myth (that I once fell for) about building social platforms:

“If we make it easier to create content… reduce the barrier to entry, then we will grow huge!”

Eg clubhouse, medium, Twitter etc
It falls into a category that I call:

“You’re not wrong…it just doesn’t matter”

The only barrier that matters is the barrier of CONSUMPTION. Not creation.
Look at movies. They require professionally trained actors, and sometimes hundreds of millions of dollars to produce.

High barrier to create, low barrier to consume. It works.

Next, look at any social content networks:
TikTok content is actually very hard to create.

But it’s sooo easy to consume. Bingo. That’ll work
Twitch - live video? talking to chat while playing video games? Performing for 8 hours straight?

Hard as hell. In fact, for 10+ years they had no app or button to start streaming. You had to go download a piece of open source software to stream.

Hard to create? Doesn’t matter
Podcasts are medium hard to create. To sound good you need to buy a microphone, learn how to edit and upload audio.

But when you’re driving or running errands it’s the easiest content to consume. So it works
Anytime a startup comes out to make podcast creation easier (Eg anchor) it fails, because that’s not the important part
Reminder :

Many founders and PMs fall into the trap thinking that you need to make creation easier

Waste of time. Invest all that energy and time into making consumption easier or more juicy.

Improve consumption, you grow
Improve creation, you don’t
Not to be that guy again, but this is the problem for clubhouse. Creating audio content got easier, but consuming got harder

- live not on demand
- join late, miss parts of convo
- can’t skip or speed up

It’s amazing for making friends. Bad for entertainment
The only time to work on content creation tools/improvements is :

A) when you’re a big company and every small % improvement pays back

B) if you’re a startup, use the content creation tool to create a new format (Eg 7 sec video loops, or stories)
Social is a nightclub.

Content consumers are the women. Optimize for them

Creators are thirsty dudes. Willing to wait in line, bribe the bouncer, and buy bottle service just to reach the women inside.

Don’t make things easier for the dudes. Make it more welcoming for women
I guess I coulda just tweeted that last one and got the whole point across

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More from @ShaanVP

14 Sep
OK let's try something fun.

I just minted a new NFT called "5 Minutes of Fame" on @opensea

This is a 1 of 1.

And it's not just a picture, it has actual utility built in.

Here's how it works:
first - here's the link to the NFT opensea.io/assets/0x495f9…
The NFT gives the holder the rights to 5 minutes of airtime on the My First Million podcast (~1 million downloads a month)

That "airtime" if we sold to a sponsor would be worth a few thousand. I started the auction at 0.25 ETH

The time is yours. You can use it how you want.
Read 11 tweets
7 Sep
cryptoweek. follow this thread (learn by doing.. learn in public)
started off creating a mental map for what all there is to learn.

I just went to disneyland, so I'm thinking about it like a big amusement park, with different rides.

Token Town
the DeFi District
NFT Mountain
etc.. ImageImage
Starting in the NFT world bc that's probably the area I understand the least.

I get it intellectually... but I "don't get it" in the sense that I can't bring myself to buy an expensive ape or punk.

The most interesting thing here is "Loot"
Read 42 tweets
22 Aug
how to not f*ck up relationships (in business & life)
Most people have a "relationship scoreboard"

My Score vs. Your Score

when I do something for you, you get points.

We measure how much we're getting from the other person.

When they do less, you do less. When they do more, you do more. It's "Tit for Tat"
But the game has a twist.

1st- the scoreboard is invisible until 1 person wants something from the other.

2nd- the scores don't match. It's easy to remember what I did for you & take for granted what you did for me. So both ppl think they're losing

This kills relationships
Read 19 tweets
8 Aug
I invested in 47 startups in a year. Here's how the math shakes out:

$4m deployed , 47 companies ($85k avg check)
Median valuation I invested at = ~$16M

So... let's think out loud here..
in baseball terms:

startup investing is about slugging % (homeruns)
not batting average % (base hits)

let's call a homerun a company that exits for over $1B

According to @AngelList - funded startups have a 1/40 shot at becoming a unicorn 🦄 ($1b valuation).
Math scenarios:

avg entry valuation $16m, so a $1B exit is a 62x (not counting dilution, or sales above $1B)

let's use fuzzy math and call a 🦄 winner a 30x return

One 🦄 = 2.5M return (60% roi)
Two 🦄 = $5M return (breakeven)
Three 🦄 = $7.65M return (profitable)
Read 16 tweets
6 Aug
Paul Tudor Jones (self made billionaire & one of the greatest macro investors of all time) said this today about Bitcoin :
"I like bitcoin. Right? Bitcoin is math. And math has been around for thousands of years. And 2+2 = 4 and it will for the next 2000 years. So I like investing in something that's reliable, consistent, honest, and 100% certain. it's a way for me to invest in certainty"
Compare that to guessing what the federal reserve and biden or trump or any human is going to do..

"do I want to have faith in that same reliability of human nature?"
Read 4 tweets
24 Jul
Things that bother my OCD wife (a running list)
The Olympic are now on odd years
My unread messages
Read 6 tweets

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