A quick test on hiring for early stage start-ups is to ask potential hires to put together a half-page work plan to manage a defined project.
Work plan has
- Date
- Task/actionable
- Status (complete, ongoing)
- Outcome
If you cannot communicate a projects, (any project for that matter) in this fashion you are too much work to manage / you require handholding / not cut out for startups
😐
If you cannot communicate (anything) in
- 1 page
- double spaced
- Arial 12
- 275 words or less.
You are not cut out for startups.
😐
- No one has time to manage you
- No one has time to teach you
- No one has time to do it for you
You should be able to manage your own time, teach yourself/learn on the job and DIY (do it yourself)
If this is too much too ask of you, please don't quit your (corporate) day job for a fast growing startup.
/End
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Today I purchased a newspaper for the first time in 5 years to read about the @CBKKenya plans to issue Kenya shillings backed Central Bank digital currency
ICYMI ⬇️
Call me a cynic, but, I don't see the point of a CBDC for a country with real time payments (mobile money and bank payments)
Also I'm wondering how an account with the Central Bank versus an account with a commercial bank makes a difference when both are plagued with inflation risks (of the KES) and even worse, heightened surveillance risk.
⚡️Crypto regulations are coming to key African markets THREAD
⬇️ What follows explains why I expect a shift in balance in crypto transactions - from decentralized 🔜 centralized - backed by findings
❌ In the past 5 - 7 years, banking and mobile money gateway restrictions stifled certain crypto business models at the benefit of others
🚀 P2p emerged the winner, reaping all the benefits of Central Bank sanctions. Volumes for Africa moved to Paxful, localbitcoins, binance p2p and others as a gateway into bitcoin and stablecoins.
✅ Bonafide a wallet that lets you save and win prizes weekly in dollars
Great spin on fintech savings/investments/yield products. weaving games and fun/ social with financial instruments. Crypto natively enables fun programming
How much funding is going into African Crypto & Blockchain startups?
Looks like crazy volumes of VC capital is flowing into Crypto blockchain startups in the rest of the world apart from Africa...
My guess is financial services related use cases rank high on the list: payments, cross border, trading & speculation etc
Central Banking regulations is still the bottleneck b/c of formal fiat rails which caps possible products and impedes onboarding
Some options
1) old fintechs pivot into crypto products eg Chipper Cash, Stax, Eversend 2) new crypto/blockchain startups emerge w/ fresh rounds of funding 3) old African crypto startups raise more money for new products/expansion/scaling 4) African banks join crypto hype train
“A recent NielsenIQ study revealed that nearly 7 in 10 consumers around the world have changed the way they buy categories and brands as a result of the COVID 19 pandemic.”
“A majority of consumers now find themselves with less money to spend and an abundance of caution around spending it. the study highlights that 73% of consumers have experienced a recent shift in their personal financial situations, to varying degrees, since September of 2020”
“consumer groups are reevaluating what’s essential to them and their families. They are making tough decisions about what categories can be abandoned and what compromises can be made even within a category.”