He set a clear, understandable definition of the metaverse:
The metaverse is a time, not a place.
It’s when our digital life is more important than our physical life.
Hot Take:
The metaverse is going to make everything more extreme.
Here’s how the world is about to go on tilt and what it means for you 👇👇👇
He set a clear, understandable definition of the metaverse:
The metaverse is a time, not a place.
It’s when our digital life is more important than our physical life.
What happens when that shift occurs?
I think everything gets a lot more extreme.
Why?
We have more insight and visibility into everything that’s going on.
This will put more pressure on the proverbial pressure cooker.
Here are 10 examples:
As more economic activity moves online, constraints and barriers go away.
You can be 10,000 miles away and considered as a candidate for a job.
Measurement pushes away from inputs (politics, facetime) to outputs (deliverables).
More opportunity brings more competition.
Tasks will get "re-rated" to their global economic value.
- Growth Assistants in the Philippines (shoutout @jspujji)
- Developers in Eastern Europe
- Bookkeepers in India
Business will now truly be a global sport.
Software allows for infinite leverage and (theoretically) infinite upside.
A lot of people in tech think we’re in a bubble.
I think we’re just getting started.
We’re going to see more companies that are started by fewer people with bigger results.
More stimuli at our fingertips - notifications, tweets, messages, information - creates short consideration spans.
We either engage with short form content - e.g. TikTok - or long form content - e.g. 2 hour podcasts / binge TV.
The middle is no man's land.
@DaveChappelle has a great quote: "When you see everything, it’s hard to care about anything."
Again the middle drops out.
Pro - there's less friction to engage on things that matter to us
Con - there's zero mindshare to engage on things that don't matter to us
When friction reduces, decision making becomes faster.
We're seeing this play out live in many areas right now (most notably crypto).
Faster decisions = faster outcomes = faster iterations.
A virtuous cycle on the way up or a vicious cycle on the way down.
More and more perspectives will come online with increased connectivity.
This will lead to an increase in bottom up analysis + more ground truth discovery.
It'll also lead to a lot of noise.
Curating the right information diet will be key.
As more of my life is spent in the digital world, I've noticed I get agitated over the smallest things.
- Phone not connecting? Annoying.
- TV not streaming? Annoying.
- Browser not loading? Annoying
Subconscious, but we'll all continue to push in this direction.
We get to see a curated sliver of everyone's life in real time now.
In the future, it'll get even more curated and dynamic with faster feedback loops.
If you’re not careful this can create serious cognitive distortion.
The comparison game can be infinite.
Most people feel isolated because their viewpoints don't resonate.
But what happens when you take that viewpoint and extend it to 8B people worldwide?
Tribalism increases.
Why change your position if you can find people online that sympathize and agree?
1. Opportunities
2. Competition
3. Outcomes
4. Engagement
5. Empathy
6. Impulses
7. Voiced Opinions
8. Agitation
9. Comparison
10. Polarization
I don't know how that plays out, but I do know there will be lots of disruption and innovation.
More from Romeen Sheth
I love Twitter.
It’s truly the Town Square of the Internet.
But finding the diamond in the rough voices can be tough.
Here are 20 of my favorite people to follow:
1. Alex Lieberman - @businessbarista
Alex writes extensively about the Founder journey.
The cool part is he’s lived everything he talks about - starting from $0 and selling for $75M with hardly any outside capital raised.
My favorite piece:
2. Ryan Breslow - @ryantakesoff
Ryan is a Top 1% founder.
This guy is a machine - he’s built 2 unicorns before the age of 27.
Ryan spells out lessons on fundraising, operating and scaling.
My favorite piece:
3. Jesse Pujji - @jspujji
Jesse is who I think of when I think “bootstrapping.”
He bootstrapped his company to an 8-figure exit and now shares stories about other awesome bootstrappers.
He’s also got great insight into all things growth marketing:
4. Post Market - @Post_Market
Post puts out some of the most thoughtful investment insights on this platform.
It’s refreshing because Post cuts through the hype and goes deep into the business model.
Idk who he/she/it is, but the insights are 💣.
It’s truly the Town Square of the Internet.
But finding the diamond in the rough voices can be tough.
Here are 20 of my favorite people to follow:
1. Alex Lieberman - @businessbarista
Alex writes extensively about the Founder journey.
The cool part is he’s lived everything he talks about - starting from $0 and selling for $75M with hardly any outside capital raised.
My favorite piece:
A life well-lived is a life-well planned.
— Alex Lieberman \u2615\ufe0f (@businessbarista) July 14, 2021
5 steps to build your own "Life Map" \U0001f9f5
2. Ryan Breslow - @ryantakesoff
Ryan is a Top 1% founder.
This guy is a machine - he’s built 2 unicorns before the age of 27.
Ryan spells out lessons on fundraising, operating and scaling.
My favorite piece:
The biggest lesson I\u2019ve learned in building a $4B company:
— Ryan Breslow \U0001f57a (@ryantakesoff) September 23, 2021
It\u2019s all about the people.
I\u2019m thrilled to announce today that Bolt is the first tech unicorn to officially shift to a 4 day work week.
Here\u2019s why we did it and how we came to the decision \U0001f447\U0001f447\U0001f447
3. Jesse Pujji - @jspujji
Jesse is who I think of when I think “bootstrapping.”
He bootstrapped his company to an 8-figure exit and now shares stories about other awesome bootstrappers.
He’s also got great insight into all things growth marketing:
Welcome new followers!!
— Jesse Pujji (@jspujji) September 16, 2021
Thanks for joining my entrepreneurial community.
To learn more about my journey, listen 2 my convo with @patrick_oshag.
I tell my story about bootstrapping, marketing, DTC and building a culture with conscious leadership. https://t.co/BSg6hCEE0L pic.twitter.com/gH4tAjfFBx
4. Post Market - @Post_Market
Post puts out some of the most thoughtful investment insights on this platform.
It’s refreshing because Post cuts through the hype and goes deep into the business model.
Idk who he/she/it is, but the insights are 💣.
Sweetgreen, ~$400M run-rate in sales (RLM% of 16% in 2019) and 140 units (+20-25 per year).
— Post M. (@Post_Market) October 25, 2021
Lets say 400 units by 2030 @ $3.5M AUV ($2.5M today) and 21.5% RLM. $300M RL EBITDA less $200M in G&A less $25M in maint. capex. is $75M in 'owners' EBIT
Last round at $1.6B. Yikes.
The cold hard truth:
Why do companies like Quibi raise billions, while companies like Peloton get nothing?
Because fundraising is a GAME
And the insiders keep the rules to themselves.
Here are 100 tips the insiders don’t want you to see but will help you win the game:
1. You can’t play the game without nailing the basics.
There are 5 core ingredients to a startup pitch.
Most have 2.
Good ones have 4.
The best have all 5.
2. Now that you have a grasp of the basics, it’s time to level up.
Good news - most founders make the same mistakes as each other.
Bad news - these mistakes are really easy to make.
Here's what not to do:
3. Ok so you told me what not to do.
So what should I do?
Read below.
4. We’re in a really unique fundraising environment right now.
It’s important to contextualize all these tips in the “here and now” of what’s going on in the landscape.
Why do companies like Quibi raise billions, while companies like Peloton get nothing?
Because fundraising is a GAME
And the insiders keep the rules to themselves.
Here are 100 tips the insiders don’t want you to see but will help you win the game:
1. You can’t play the game without nailing the basics.
There are 5 core ingredients to a startup pitch.
Most have 2.
Good ones have 4.
The best have all 5.
There\u2019s a lot of bad advice out there on how to pitch your startup.
— Romeen Sheth (@RomeenSheth) April 10, 2021
Last year, I invested $1M+ and heard 200 companies pitch.
Every great pitch I've heard nails 5 ingredients.
In this thread, we'll go through each to help maximize your chances when fundraising
Let's dig in\U0001f447 pic.twitter.com/FBaUUWHz8L
2. Now that you have a grasp of the basics, it’s time to level up.
Good news - most founders make the same mistakes as each other.
Bad news - these mistakes are really easy to make.
Here's what not to do:
0/ After evaluating 200+ startups this year, I've been in some awesome and not so awesome pitches.
— Romeen Sheth (@RomeenSheth) December 28, 2020
Here are the top 10 mistakes I see Founders make that routinely derail fundraising \U0001f447\U0001f447\U0001f447
3. Ok so you told me what not to do.
So what should I do?
Read below.
0/ Last night I tweeted about the top 10 things Founders do that derail fundraising. It struck a chord. 2,500+ liked the tweet.
— Romeen Sheth (@RomeenSheth) December 30, 2020
I got a ton of DMs asking the opposite question: \u201cWhat are the top things Founders do well when fundraising?\u201d
Here's my top 10 \U0001f447\U0001f447\U0001f447
4. We’re in a really unique fundraising environment right now.
It’s important to contextualize all these tips in the “here and now” of what’s going on in the landscape.
Raising money for startups is wild right now. I\u2019ve never seen anything like it.
— Romeen Sheth (@RomeenSheth) May 5, 2021
Lots of Founders are wondering how to approach it and who they should partner with.
Here are 10 observations / practical tips I've shared with 100+ Founders in the last few months \U0001f447\U0001f447\U0001f447
You May Also Like
1/“What would need to be true for you to….X”
Why is this the most powerful question you can ask when attempting to reach an agreement with another human being or organization?
A thread, co-written by @deanmbrody:
2/ First, “X” could be lots of things. Examples: What would need to be true for you to
- “Feel it's in our best interest for me to be CMO"
- “Feel that we’re in a good place as a company”
- “Feel that we’re on the same page”
- “Feel that we both got what we wanted from this deal
3/ Normally, we aren’t that direct. Example from startup/VC land:
Founders leave VC meetings thinking that every VC will invest, but they rarely do.
Worse over, the founders don’t know what they need to do in order to be fundable.
4/ So why should you ask the magic Q?
To get clarity.
You want to know where you stand, and what it takes to get what you want in a way that also gets them what they want.
It also holds them (mentally) accountable once the thing they need becomes true.
5/ Staying in the context of soliciting investors, the question is “what would need to be true for you to want to invest (or partner with us on this journey, etc)?”
Multiple responses to this question are likely to deliver a positive result.
Why is this the most powerful question you can ask when attempting to reach an agreement with another human being or organization?
A thread, co-written by @deanmbrody:
Next level tactic when closing a sale, candidate, or investment:
— Erik Torenberg (@eriktorenberg) February 27, 2018
Ask: \u201cWhat needs to be true for you to be all in?\u201d
You'll usually get an explicit answer that you might not get otherwise. It also holds them accountable once the thing they need becomes true.
2/ First, “X” could be lots of things. Examples: What would need to be true for you to
- “Feel it's in our best interest for me to be CMO"
- “Feel that we’re in a good place as a company”
- “Feel that we’re on the same page”
- “Feel that we both got what we wanted from this deal
3/ Normally, we aren’t that direct. Example from startup/VC land:
Founders leave VC meetings thinking that every VC will invest, but they rarely do.
Worse over, the founders don’t know what they need to do in order to be fundable.
4/ So why should you ask the magic Q?
To get clarity.
You want to know where you stand, and what it takes to get what you want in a way that also gets them what they want.
It also holds them (mentally) accountable once the thing they need becomes true.
5/ Staying in the context of soliciting investors, the question is “what would need to be true for you to want to invest (or partner with us on this journey, etc)?”
Multiple responses to this question are likely to deliver a positive result.
I hate when I learn something new (to me) & stunning about the Jeff Epstein network (h/t MoodyKnowsNada.)
Where to begin?
So our new Secretary of State Anthony Blinken's stepfather, Samuel Pisar, was "longtime lawyer and confidant of...Robert Maxwell," Ghislaine Maxwell's Dad.
"Pisar was one of the last people to speak to Maxwell, by phone, probably an hour before the chairman of Mirror Group Newspapers fell off his luxury yacht the Lady Ghislaine on 5 November, 1991." https://t.co/DAEgchNyTP
OK, so that's just a coincidence. Moving on, Anthony Blinken "attended the prestigious Dalton School in New York City"...wait, what? https://t.co/DnE6AvHmJg
Dalton School...Dalton School...rings a
Oh that's right.
The dad of the U.S. Attorney General under both George W. Bush & Donald Trump, William Barr, was headmaster of the Dalton School.
Donald Barr was also quite a
I'm not going to even mention that Blinken's stepdad Sam Pisar's name was in Epstein's "black book."
Lots of names in that book. I mean, for example, Cuomo, Trump, Clinton, Prince Andrew, Bill Cosby, Woody Allen - all in that book, and their reputations are spotless.
Where to begin?
So our new Secretary of State Anthony Blinken's stepfather, Samuel Pisar, was "longtime lawyer and confidant of...Robert Maxwell," Ghislaine Maxwell's Dad.
"Pisar was one of the last people to speak to Maxwell, by phone, probably an hour before the chairman of Mirror Group Newspapers fell off his luxury yacht the Lady Ghislaine on 5 November, 1991." https://t.co/DAEgchNyTP
OK, so that's just a coincidence. Moving on, Anthony Blinken "attended the prestigious Dalton School in New York City"...wait, what? https://t.co/DnE6AvHmJg
Dalton School...Dalton School...rings a
Oh that's right.
The dad of the U.S. Attorney General under both George W. Bush & Donald Trump, William Barr, was headmaster of the Dalton School.
Donald Barr was also quite a
Donald Barr had a way with words. pic.twitter.com/JdRBwXPhJn
— Rudy Havenstein, listening to Nas all day. (@RudyHavenstein) September 17, 2020
I'm not going to even mention that Blinken's stepdad Sam Pisar's name was in Epstein's "black book."
Lots of names in that book. I mean, for example, Cuomo, Trump, Clinton, Prince Andrew, Bill Cosby, Woody Allen - all in that book, and their reputations are spotless.
