When I graduated college, my plan was:
- Start at a big company (~5,000)
- Then work at a smaller one (~50)
- Then join as an early employee (~8)
- Then start my own
Here’s why and what I learned along the way:
BIG COMPANY
A big company is a multi-billion dollar company for a reason.
They do one thing better than everyone else.
Find what that thing is. Study it. Master it.
Now *you* carry that billion dollar competency with you.
At the big company, make sure you learn that thing.
MEDIUM-SIZED COMPANY
A growing company with 50 people is onto something. It may be a rocketship. 🚀
Your equity is quite exciting. When they hit $1b, you’ll be a millionaire!
This motivates you daily. You’re even OK with less pay...
In truth, there's a long road before you'll ever see a penny.
Your real opportunity is something different.
The first 10 hires at this company are rockstars. They're the best at what they do.
YOU LIKELY GET TO WORK DIRECTLY UNDER ONE!
Do right by them. Learn from them.
TINY COMPANY (~10)
This is the danger zone. It's the hardest one to nail.
You're an early employee. The vision is grand.
If what the founders say is true, you will be worth tens to hundreds of millions.
But there's zero data points suggesting the company is competent.
At a tiny company, it’s all a bet on the founders.
When the boat's small, it's easy to steer. That's why even one bad decision from a small company founder can steer the boat off course.
Pick right, and it's the best thing in the world. Pick wrong, and you've wasted your time.
At a tiny company, you may get to level up a title. You may learn how to manage a small team.
You'll *definitely* learn how important the first 10 people are to determining a company’s success
Bring that mindset with you when you start a company
FOUNDING A COMPANY
You've ideally been in the same industry, or similar ones, this whole time
You have an aerial view of that industry
You have a network of people who have worked with you
You know directionally what to build
Charlie Songhurst said every employee before 10 has a compounding positive or negative effect on that company.
I believe in that fully.
@JoinMeow is almost 10 people now. We've thought about that with every person we've let through the door.
I stuck to my plan and it has worked for me–so far.
It’s not for everyone, but the learning from each stage has been critical for my continued progress.
Follow me @arvanaghi as I share more perspectives on startups and company building from building @JoinMeow.
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1. A hardware wallet is a 3rd-party custody solution.
2. You feel like you #OwnYourKeys because you can physically hold it.
3. Point 2. is a fallacy from your fiat brain. 💵🧠
4. Purchasing a hardware wallet involves trusting:
• The firmware authors
• The code signers
• Everyone in the supply chain
5. There are entire categories of vulnerabilities hardware wallet producers admit they can’t fix, namely physical attacks. ledger-donjon.github.io/Unfixable-Key-…
6. Since some physical attacks can’t be patched, physical security is now a meaningful part of your life.
7. The firmware on hardware wallets can be extracted and audited. But you haven’t done this. And there’s a lot of code: I’ve only looked at chunks. medium.com/@brandonarvana…
"Mastering Bitcoin" by Andreas Antonopoulos (@aantonop) is a pillar of our industry.
Here are 10 lines I picked out to give you a glimpse of what's inside, and to encourage you to read it. (Thread)
"The key innovation was to use a distributed computation system (called a 'Proof-of-Work' algorithm) to conduct a global 'election' every 10 minutes, allowing the decentralized network to arrive at consensus about the state of transactions." -@aantonop, 4
"Bitcoin's block interval of 10 minutes is a design compromise between fast confirmation times (settlement of transactions) and the probability of a fork." -@aantonop, 247