Tweet

Shaan Puri

14 Sep, 11 tweets, 4 min read

@opensea

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.

@theSamParr

Wanna pitch your company? Use the 5 mins to talk about your co.

Wanna just hang with us? Pull up a chair and brainstorm

Wanna ask questions or get coaching from me and @theSamParr ? Go for it

The cool part is, the time is frozen. .. what does that mean?

lets say you think the show is going to keep getting bigger (we are 2.5x bigger this year than last year)

You can buy today and hold it for years, and it will age like fine wine. That "airtime" should (in theory) get more valuable over time as we grow.

we no longer take external sponsor $$$ , so this is the only way to buy airtime on the show.

This is the first time I've heard of anyone doing this - so I have no idea what's going to happen.

This is an experiment, to see what you can do with NFTs beyond pictures of animals

so let's see what happens. The bidding will go 1 week.

Then the owner can use it (burn the NFT by sending it to our wallet to get their 5 mins of fame)

OR hold it, and resell it for a potential profit later.

OK let the experiment begin opensea.io/assets/0x495f9…

ps for those who don't know - here's a link to the pod

over 1k ratings, 4.8 stars
ranked top 20 business podcast
we will do nearly ~10 million downloads this year

podcasts.apple.com/us/podcast/my-…

3 bids in. lets go!

@awilkinson

fun fact, @awilkinson made a smart move

he called us and offered to fully buy-out ~6-12 months of future sponsorship on our podcast.

we were very small. But he was betting the future value would be worth more than it is today and made us a tempting offer

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More from @ShaanVP

Shaan Puri

@ShaanVP

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..

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"

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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

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Shaan Puri

@ShaanVP

15 Aug

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:

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Shaan Puri

@ShaanVP

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..

@AngelList

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)

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Shaan Puri

@ShaanVP

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?"

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