More on Entrepreneurship/Creators

Nik Nicholas
3 years ago
A simple go-to-market formula
“Poor distribution, not poor goods, is the main reason for failure” — Peter Thiel.
Here's an easy way to conceptualize "go-to-market" for your distribution plan.
One equation captures the concept:
Distribution = Ecosystem Participants + Incentives
Draw your customers' ecosystem. Set aside your goods and consider your consumer's environment. Who do they deal with daily?
First, list each participant. You want an exhaustive list, but here are some broad categories.
In-person media services
Websites
Events\Networks
Financial education and banking
Shops
Staff
Advertisers
Twitter influencers
Draw influence arrows. Who's affected? I'm not just talking about Instagram selfie-posters. Who has access to your consumer and could promote your product if motivated?
The thicker the arrow, the stronger the relationship. Include more "influencers" if needed. Customer ecosystems are complex.
3. Incentivize ecosystem players. “Show me the incentive and I will show you the result.“, says Warren Buffet's business partner Charlie Munger.
Strong distribution strategies encourage others to promote your product to your target market by incentivizing the most prominent players. Incentives can be financial or non-financial.
Financial rewards
Usually, there's money. If you pay Facebook, they'll run your ad. Salespeople close deals for commission. Giving customers bonus credits will encourage referrals.
Most businesses underuse non-financial incentives.
Non-cash incentives
Motivate key influencers without spending money to expand quickly and cheaply. What can you give a client-connector for free?
Here are some ideas:
Are there any other features or services available?
Titles or status? Tinder paid college "ambassadors" for parties to promote its dating service.
Can I get early/free access? Facebook gave a select group of developers "exclusive" early access to their AR platform.
Are you a good host? Pharell performed at YPlan's New York launch party.
Distribution? Apple's iPod earphones are white so others can see them.
Have an interesting story? PR rewards journalists by giving them a compelling story to boost page views.
Prioritize distribution.
More time spent on distribution means more room in your product design and business plan. Once you've identified the key players in your customer's ecosystem, talk to them.
Money isn't your only resource. Creative non-monetary incentives may be more effective and scalable. Give people something useful and easy to deliver.

Nick Nolan
3 years ago
In five years, starting a business won't be hip.
People are slowly recognizing entrepreneurship's downside.
Growing up, entrepreneurship wasn't common. High school class of 2012 had no entrepreneurs.
Businesses were different.
They had staff and a lengthy history of achievement.
I never wanted a business. It felt unattainable. My friends didn't care.
Weird.
People desired degrees to attain good jobs at big companies.
When graduated high school:
9 out of 10 people attend college
Earn minimum wage (7%) working in a restaurant or retail establishment
Or join the military (3%)
Later, entrepreneurship became a thing.
2014-ish
I was in the military and most of my high school friends were in college, so I didn't hear anything.
Entrepreneurship soared in 2015, according to Google Trends.
Then more individuals were interested. Entrepreneurship went from unusual to cool.
In 2015, it was easier than ever to build a website, run Facebook advertisements, and achieve organic social media reach.
There were several online business tools.
You didn't need to spend years or money figuring it out. Most entry barriers were gone.
Everyone wanted a side gig to escape the 95.
Small company applications have increased during the previous 10 years.
2011-2014 trend continues.
2015 adds 150,000 applications. 2016 adds 200,000. Plus 300,000 in 2017.
The graph makes it look little, but that's a considerable annual spike with no indications of stopping.
By 2021, new business apps had doubled.
Entrepreneurship will return to its early 2010s level.
I think we'll go backward in 5 years.
Entrepreneurship is half as popular as it was in 2015.
In the late 2020s and 30s, entrepreneurship will again be obscure.
Entrepreneurship's decade-long splendor is fading. People will cease escaping 9-5 and launch fewer companies.
That’s not a bad thing.
I think people have a rose-colored vision of entrepreneurship. It's fashionable. People feel that they're missing out if they're not entrepreneurial.
Reality is showing up.
People say on social media, "I knew starting a business would be hard, but not this hard."
More negative posts on entrepreneurship:
Luke adds:
Is being an entrepreneur ‘healthy’? I don’t really think so. Many like Gary V, are not role models for a well-balanced life. Despite what feel-good LinkedIn tells you the odds are against you as an entrepreneur. You have to work your face off. It’s a tough but rewarding lifestyle. So maybe let’s stop glorifying it because it takes a lot of (bleepin) work to survive a pandemic, mental health battles, and a competitive market.
Entrepreneurship is no longer a pipe dream.
It’s hard.
I went full-time in March 2020. I was done by April 2021. I had a good-paying job with perks.
When that fell through (on my start date), I had to continue my entrepreneurial path. I needed money by May 1 to pay rent.
Entrepreneurship isn't as great as many think.
Entrepreneurship is a serious business.
If you have a 9-5, the grass isn't greener here. Most people aren't telling the whole story when they post on social media or quote successful entrepreneurs.
People prefer to communicate their victories than their defeats.
Is this a bad thing?
I don’t think so.
Over the previous decade, entrepreneurship went from impossible to the finest thing ever.
It peaked in 2020-21 and is returning to reality.
Startups aren't for everyone.
If you like your job, don't quit.
Entrepreneurship won't amaze people if you quit your job.
It's irrelevant.
You're doomed.
And you'll probably make less money.
If you hate your job, quit. Change jobs and bosses. Changing jobs could net you a greater pay or better perks.
When you go solo, your paycheck and perks vanish. Did I mention you'll fail, sleep less, and stress more?
Nobody will stop you from pursuing entrepreneurship. You'll face several challenges.
Possibly.
Entrepreneurship may be romanticized for years.
Based on what I see from entrepreneurs on social media and trends, entrepreneurship is challenging and few will succeed.

Tim Denning
3 years ago
Bills are paid by your 9 to 5. 6 through 12 help you build money.
40 years pass. After 14 years of retirement, you die. Am I the only one who sees the problem?
I’m the Jedi master of escaping the rat race.
Not to impress. I know this works since I've tried it. Quitting a job to make money online is worse than Kim Kardashian's internet-burning advice.
Let me help you rethink the move from a career to online income to f*ck you money.
To understand why a job is a joke, do some life math.
Without a solid why, nothing makes sense.
The retirement age is 65. Our processed food consumption could shorten our 79-year average lifespan.
You spend 40 years working.
After 14 years of retirement, you die.
Am I alone in seeing the problem?
Life is too short to work a job forever, especially since most people hate theirs. After-hours skills are vital.
Money equals unrestricted power, f*ck you.
F*ck you money is the answer.
Jack Raines said it first. He says we can do anything with the money. Jack, a young rebel straight out of college, can travel and try new foods.
F*ck you money signifies not checking your bank account before buying.
F*ck you” money is pure, unadulterated freedom with no strings attached.
Jack claims you're rich when you rarely think about money.
Avoid confusion.
This doesn't imply you can buy a Lamborghini. It indicates your costs, income, lifestyle, and bank account are balanced.
Jack established an online portfolio while working for UPS in Atlanta, Georgia. So he gained boundless power.
The portion that many erroneously believe
Yes, you need internet abilities to make money, but they're not different from 9-5 talents.
Sahil Lavingia, Gumroad's creator, explains.
A job is a way to get paid to learn.
Mistreat your boss 9-5. Drain his skills. Defuse him. Love and leave him (eventually).
Find another employment if yours is hazardous. Pick an easy job. Make sure nothing sneaks into your 6-12 time slot.
The dumb game that makes you a sheep
A 9-5 job requires many job interviews throughout life.
You email your résumé to employers and apply for jobs through advertisements. This game makes you a sheep.
You're competing globally. Work-from-home makes the competition tougher. If you're not the cheapest, employers won't hire you.
After-hours online talents (say, 6 pm-12 pm) change the game. This graphic explains it better:
Online talents boost after-hours opportunities.
You go from wanting to be picked to picking yourself. More chances equal more money. Your f*ck you fund gets the extra cash.
A novel method of learning is essential.
College costs six figures and takes a lifetime to repay.
Informal learning is distinct. 6-12pm:
Observe the carefully controlled Twitter newsfeed.
Make use of Teachable and Gumroad's online courses.
Watch instructional YouTube videos
Look through the top Substack newsletters.
Informal learning is more effective because it's not obvious. It's fun to follow your curiosity and hobbies.
The majority of people lack one attitude. It's simple to learn.
One big impediment stands in the way of f*ck you money and time independence. So often.
Too many people plan after 6-12 hours. Dreaming. Big-thinkers. Strategically. They fill their calendar with meetings.
This is after-hours masturb*tion.
Sahil Bloom reminded me that a bias towards action will determine if this approach works for you.
The key isn't knowing what to do from 6-12 a.m. Trust yourself and develop abilities as you go. It's for building the parachute after you jump.
Sounds risky. We've eliminated the risk by finishing this process after hours while you work 9-5.
With no risk, you can have an I-don't-care attitude and still be successful.
When you choose to move forward, this occurs.
Once you try 9-5/6-12, you'll tell someone.
It's bad.
Few of us hang out with problem-solvers.
It's how much of society operates. So they make reasons so they can feel better about not giving you money.
Matthew Kobach told me chasing f*ck you money is easier with like-minded folks.
Without f*ck you money friends, loneliness will take over and you'll think you've messed up when you just need to keep going.
Steal this easy guideline
Let's act. No more fluffing and caressing.
1. Learn
If you detest your 9-5 talents or don't think they'll work online, get new ones. If you're skilled enough, continue.
Easlo recommends these skills:
Designer for Figma
Designer Canva
bubble creators
editor in Photoshop
Automation consultant for Zapier
Designer of Webflow
video editor Adobe
Ghostwriter for Twitter
Idea consultant
Artist in Blender Studio
2. Develop the ability
Every night from 6-12, apply the skill.
Practicing ghostwriting? Write someone's tweets for free. Do someone's website copy to learn copywriting. Get a website to the top of Google for a keyword to understand SEO.
Free practice is crucial. Your 9-5 pays the money, so work for free.
3. Take off stealthily like a badass
Another mistake. Sell to few. Don't be the best. Don't claim expertise.
Sell your new expertise to others behind you.
Two ways:
Using a digital good
By providing a service,
Point 1 also includes digital service examples. Digital products include eBooks, communities, courses, ad-supported podcasts, and templates. It's easy. Your 9-5 job involves one of these.
Take ideas from work.
Why? They'll steal your time for profit.
4. Iterate while feeling awful
First-time launches always fail. You'll feel terrible. Okay. Remember your 9-5?
Find improvements. Ask free and paying consumers what worked.
Multiple relaunches, each 1% better.
5. Discover more
Never stop learning. Improve your skill. Add a relevant skill. Learn copywriting if you write online.
After-hours students earn the most.
6. Continue
Repetition is key.
7. Make this one small change.
Consistently. The 6-12 momentum won't make you rich in 30 days; that's success p*rn.
Consistency helps wage slaves become f*ck you money. Most people can't switch between the two.
Putting everything together
It's easy. You're probably already doing some.
This formula explains why, how, and what to do. It's a 5th-grade-friendly blueprint. Good.
Reduce financial risk with your 9-to-5. Replace Netflix with 6-12 money-making talents.
Life is short; do whatever you want. Today.
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Ryan Weeks
3 years ago
Terra fiasco raises TRON's stablecoin backstop
After Terra's algorithmic stablecoin collapsed in May, TRON announced a plan to increase the capital backing its own stablecoin.
USDD, a near-carbon copy of Terra's UST, arrived on the TRON blockchain on May 5. TRON founder Justin Sun says USDD will be overcollateralized after initially being pegged algorithmically to the US dollar.
A reserve of cryptocurrencies and stablecoins will be kept at 130 percent of total USDD issuance, he said. TRON described the collateral ratio as "guaranteed" and said it would begin publishing real-time updates on June 5.
Currently, the reserve contains 14,040 bitcoin (around $418 million), 140 million USDT, 1.9 billion TRX, and 8.29 billion TRX in a burning contract.
Sun: "We want to hybridize USDD." We have an algorithmic stablecoin and TRON DAO Reserve.
algorithmic failure
USDD was designed to incentivize arbitrageurs to keep its price pegged to the US dollar by trading TRX, TRON's token, and USDD. Like Terra, TRON signaled its intent to establish a bitcoin and cryptocurrency reserve to support USDD in extreme market conditions.
Still, Terra's UST failed despite these safeguards. The stablecoin veered sharply away from its dollar peg in mid-May, bringing down Terra's LUNA and wiping out $40 billion in value in days. In a frantic attempt to restore the peg, billions of dollars in bitcoin were sold and unprecedented volumes of LUNA were issued.
Sun believes USDD, which has a total circulating supply of $667 million, can be backed up.
"Our reserve backing is diversified." Bitcoin and stablecoins are included. USDC will be a small part of Circle's reserve, he said.
TRON's news release lists the reserve's assets as bitcoin, TRX, USDC, USDT, TUSD, and USDJ.
All Bitcoin addresses will be signed so everyone knows they belong to us, Sun said.
Not giving in
Sun told that the crypto industry needs "decentralized" stablecoins that regulators can't touch.
Sun said the Luna Foundation Guard, a Singapore-based non-profit that raised billions in cryptocurrency to buttress UST, mismanaged the situation by trying to sell to panicked investors.
He said, "We must be ahead of the market." We want to stabilize the market and reduce volatility.
Currently, TRON finances most of its reserve directly, but Sun says the company hopes to add external capital soon.
Before its demise, UST holders could park the stablecoin in Terra's lending platform Anchor Protocol to earn 20% interest, which many deemed unsustainable. TRON's JustLend is similar. Sun hopes to raise annual interest rates from 17.67% to "around 30%."
This post is a summary. Read full article here

Henrique Centieiro
3 years ago
DAO 101: Everything you need to know
Maybe you'll work for a DAO next! Over $1 Billion in NFTs in the Flamingo DAO Another DAO tried to buy the NFL team Denver Broncos. The UkraineDAO raised over $7 Million for Ukraine. The PleasrDAO paid $4m for a Wu-Tang Clan album that belonged to the “pharma bro.”
DAOs move billions and employ thousands. So learn what a DAO is, how it works, and how to create one!
DAO? So, what? Why is it better?
A Decentralized Autonomous Organization (DAO). Some people like to also refer to it as Digital Autonomous Organization, but I prefer the former.
They are virtual organizations. In the real world, you have organizations or companies right? These firms have shareholders and a board. Usually, anyone with authority makes decisions. It could be the CEO, the Board, or the HIPPO. If you own stock in that company, you may also be able to influence decisions. It's now possible to do something similar but much better and more equitable in the cryptocurrency world.
This article informs you:
DAOs- What are the most common DAOs, their advantages and disadvantages over traditional companies? What are they if any?
Is a DAO legally recognized?
How secure is a DAO?
I’m ready whenever you are!
A DAO is a type of company that is operated by smart contracts on the blockchain. Smart contracts are computer code that self-executes our commands. Those contracts can be any. Most second-generation blockchains support smart contracts. Examples are Ethereum, Solana, Polygon, Binance Smart Chain, EOS, etc. I think I've gone off topic. Back on track. Now let's go!
Unlike traditional corporations, DAOs are governed by smart contracts. Unlike traditional company governance, DAO governance is fully transparent and auditable. That's one of the things that sets it apart. The clarity!
A DAO, like a traditional company, has one major difference. In other words, it is decentralized. DAOs are more ‘democratic' than traditional companies because anyone can vote on decisions. Anyone! In a DAO, we (you and I) make the decisions, not the top-shots. We are the CEO and investors. A DAO gives its community members power. We get to decide.
As long as you are a stakeholder, i.e. own a portion of the DAO tokens, you can participate in the DAO. Tokens are open to all. It's just a matter of exchanging it. Ownership of DAO tokens entitles you to exclusive benefits such as governance, voting, and so on. You can vote for a move, a plan, or the DAO's next investment. You can even pitch for funding. Any ‘big' decision in a DAO requires a vote from all stakeholders. In this case, ‘token-holders'! In other words, they function like stock.
What are the 5 DAO types?
Different DAOs exist. We will categorize decentralized autonomous organizations based on their mode of operation, structure, and even technology. Here are a few. You've probably heard of them:
1. DeFi DAO
These DAOs offer DeFi (decentralized financial) services via smart contract protocols. They use tokens to vote protocol and financial changes. Uniswap, Aave, Maker DAO, and Olympus DAO are some examples. Most DAOs manage billions.
Maker DAO was one of the first protocols ever created. It is a decentralized organization on the Ethereum blockchain that allows cryptocurrency lending and borrowing without a middleman.
Maker DAO issues DAI, a stable coin. DAI is a top-rated USD-pegged stable coin.
Maker DAO has an MKR token. These token holders are in charge of adjusting the Dai stable coin policy. Simply put, MKR tokens represent DAO “shares”.
2. Investment DAO
Investors pool their funds and make investment decisions. Investing in new businesses or art is one example. Investment DAOs help DeFi operations pool capital. The Meta Cartel DAO is a community of people who want to invest in new projects built on the Ethereum blockchain. Instead of investing one by one, they want to pool their resources and share ideas on how to make better financial decisions.
Other investment DAOs include the LAO and Friends with Benefits.
3. DAO Grant/Launchpad
In a grant DAO, community members contribute funds to a grant pool and vote on how to allocate and distribute them. These DAOs fund new DeFi projects. Those in need only need to apply. The Moloch DAO is a great Grant DAO. The tokens are used to allocate capital. Also see Gitcoin and Seedify.
4. DAO Collector
I debated whether to put it under ‘Investment DAO' or leave it alone. It's a subset of investment DAOs. This group buys non-fungible tokens, artwork, and collectibles. The market for NFTs has recently exploded, and it's time to investigate. The Pleasr DAO is a collector DAO. One copy of Wu-Tang Clan's "Once Upon a Time in Shaolin" cost the Pleasr DAO $4 million. Pleasr DAO is known for buying Doge meme NFT. Collector DAOs include the Flamingo, Mutant Cats DAO, and Constitution DAOs. Don't underestimate their websites' "childish" style. They have millions.
5. Social DAO
These are social networking and interaction platforms. For example, Decentraland DAO and Friends With Benefits DAO.
What are the DAO Benefits?
Here are some of the benefits of a decentralized autonomous organization:
- They are trustless. You don’t need to trust a CEO or management team
- It can’t be shut down unless a majority of the token holders agree. The government can't shut - It down because it isn't centralized.
- It's fully democratic
- It is open-source and fully transparent.
What about DAO drawbacks?
We've been saying DAOs are the bomb? But are they really the shit? What could go wrong with DAO?
DAOs may contain bugs. If they are hacked, the results can be catastrophic.
No trade secrets exist. Because the smart contract is transparent and coded on the blockchain, it can be copied. It may be used by another organization without credit. Maybe DAOs should use Secret, Oasis, or Horizen blockchain networks.
Are DAOs legally recognized??
In most counties, DAO regulation is inexistent. It's unclear. Most DAOs don’t have a legal personality. The Howey Test and the Securities Act of 1933 determine whether DAO tokens are securities. Although most countries follow the US, this is only considered for the US. Wyoming became the first state to recognize DAOs as legal entities in July 2021 after passing a DAO bill. DAOs registered in Wyoming are thus legally recognized as business entities in the US and thus receive the same legal protections as a Limited Liability Company.
In terms of cyber-security, how secure is a DAO?
Blockchains are secure. However, smart contracts may have security flaws or bugs. This can be avoided by third-party smart contract reviews, testing, and auditing
Finally, Decentralized Autonomous Organizations are timeless. Let us examine the current situation: Ukraine's invasion. A DAO was formed to help Ukrainian troops fighting the Russians. It was named Ukraine DAO. Pleasr DAO, NFT studio Trippy Labs, and Russian art collective Pussy Riot organized this fundraiser. Coindesk reports that over $3 million has been raised in Ethereum-based tokens. AidForUkraine, a DAO aimed at supporting Ukraine's defense efforts, has launched. Accepting Solana token donations. They are fully transparent, uncensorable, and can’t be shut down or sanctioned.
DAOs are undeniably the future of blockchain. Everyone is paying attention. Personally, I believe traditional companies will soon have to choose between adapting or being left behind.
Long version of this post: https://medium.datadriveninvestor.com/dao-101-all-you-need-to-know-about-daos-275060016663
INTΞGRITY team
3 years ago
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YOUR CALIFORNIA PRIVACY RIGHTS
The California Consumer Privacy Act, or "CCPA" (Cal. Civ. Code 1798.100 et seq. ), grants California residents some rights regarding their personal data. If you are a California resident, you are subject to this clause.
We have collected the following categories of personal information over the past year: identifiers, commercial information, internet or other electronic network activity information, and conclusions. Please refer to the section titled "Collection of Information" for specifics regarding the data points we gather and the sorts of sources from which we acquire them. We collect personal information for the business and marketing purposes outlined in the section on Use of Information. In the past 12 months, we have shared the following types of personal information to the following groups of recipients for business purposes:
Category of Personal Information: Identifiers
Categories of Recipients: Analytics Providers, Communication Providers, Custom Service Providers, Fraud Prevention and Security Providers, Infrastructure Providers, Marketing Providers, Payment Processors
Category of Personal Information: Commercial Information
Categories of Recipients: Analytics Providers, Infrastructure Providers, Payment Processors
Category of Personal Information: Internet or Other Electronic Network Activity Information
Categories of Recipients: Analytics Providers, Infrastructure Providers
Category of Personal Information: Inferences
Categories of Recipients: Analytics Providers, Infrastructure Providers
INTΞGRITY does not sell personally identifiable information.
You have the right, subject to certain limitations: (1) to request more information about the categories and specific pieces of personal information we collect, use, and disclose about you; (2) to request the deletion of your personal information; (3) to opt out of any future sales of your personal information; and (4) to not be discriminated against for exercising these rights. You may submit these requests by email to hello@int3grity.com. We shall not treat you differently if you exercise your rights under the CCPA.
If we receive your request from an authorized agent, we may request proof that you have granted the agent a valid power of attorney or that the agent otherwise possesses valid written authorization to submit requests on your behalf. This may involve requiring identity verification. Please contact us if you are an authorized agent wishing to make a request.
ADDITIONAL DISCLOSURES FOR INDIVIDUALS IN EUROPE
This section applies to you if you are based in the European Economic Area ("EEA"), the United Kingdom, or Switzerland and have specific rights and safeguards regarding the processing of your personal data under relevant law.
Legal Justification for Processing
We will process your personal information based on the following legal grounds:
To fulfill our obligations under our agreement with you (e.g., providing the products and services you requested).
When we have a legitimate interest in processing your personal information to operate our business or to safeguard our legitimate interests, we will do so (e.g., to provide, maintain, and improve our products and services, conduct data analytics, and communicate with you).
To meet our legal responsibilities (e.g., to maintain a record of your consents and track those who have opted out of non-administrative communications).
If we have your permission to do so (e.g., when you opt in to receive non-administrative communications from us). When consent is the legal basis for our processing of your personal information, you may at any time withdraw your consent.
Data Retention
We retain the personal information associated with your account so long as your account is active. If you close your account, your account information will be deleted within 14 days. We retain other personal data for as long as is required to fulfill the objectives for which it was obtained and for other legitimate business purposes, such as to meet our legal, regulatory, or other compliance responsibilities.
Data Access Requests
You have the right to request access to the personal data we hold on you and to get your data in a portable format, to request that your personal data be rectified or erased, and to object to or request that we restrict particular processing, subject to certain limitations. To assert your legal rights:
If you sign up for an INTΞGRITY account, you can request an export of your personal information at any time via the Settings website, or by visiting Settings and selecting Account from inside our app.
You can edit the information linked with your account on the Settings website, or by navigating to Settings and then Account in our app, and the Customize Your Interests page.
You may withdraw consent at any time by deleting your account via the Settings page, or by visiting Settings and then selecting Account within our app (except to the extent INTΞGRITY is prevented by law from deleting your information).
You may object to the use of your personal information at any time by contacting hello@int3grity.com.
Questions or Complaints
If we are unable to settle your concern over our processing of personal data, you have the right to file a complaint with the Data Protection Authority in your country. The links below provide access to the contact information for your Data Protection Authority.
For people in the EEA, please visit https://edpb.europa.eu/about-edpb/board/members en.
For persons in the United Kingdom, please visit https://ico.org.uk/global/contact-us.
For people in Switzerland: https://www.edoeb.admin.ch/edoeb/en/home/the-fdpic/contact.html
CONTACT US
Please contact us at hello@int3grity.com if you have any queries regarding this Privacy Statement.
