Sometimes quick execution can create gaps. Like 2 weeks ago I thought I was literally the only one using this app, but now everyone talks about it 😂
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Gamma literally does what MS PPT will do in the near future, but it rapidly became popular by word of mouth. Try Gamma at — https://gamma.app/

Elon Musk: Advice for Young People | Lex Fridman Podcast Clips

Try to be useful, read a lot and learn a lot, have a grow the pie mindset, create more than you consume
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One of the best <10min video to spend for the mental model

Wallet Security: The ‘Non-Custodial’ Fallacy

A good breakdown of what 'non-custodial' means. The distinction between custodial and non-custodial wallets is not a binary like what the phrase "not your keys, not your crypto" suggests. Wallet security and key management involve complexities in 1) key generation, 2) key storage, and 3) key usage.
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1) Key generation: Use audited libraries, properly integrated software, and wallets that keep secrets
2) Key storage: Choose between hot and cold wallets based on risk tolerance, and implement backup and recovery mechanisms
3) Key usage: Follow guidelines for authentication, use established cryptography libraries, avoid nonce reuse, and separate keys for different purposes
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Future developments should concentrate on shared and open-source solutions (such as key generation & txn signing libraries and txn approval frameworks). These improvements aim to address the complexities of key possession and management, moving beyond the simplistic notion of "not your keys, not your crypto.

Our Questions About Web 2.5 Gaming by Maverick

And quite good questions (and framework as a whole) on how crypto could influence gaming in general. 작년에 Web 2.5 gaming 딜들 보면서 했던 ambiguous assumptions, high-level misconceptions 다 여기에 있네...ㅎㅎ 조금 일찍 나왔었으면 좋으련만...

Anyway interesting approach; identifying underexplored areas in gaming today that may be more conducive to meaningful crypto experiments:
- Categories: Crypto-economic (and social) experiments of "games" that do not require impeccable artwork and gameplay as a prior industry standard. (Fully on-chain, casino, strategy, casual, board games, sports, simulation games, etc.)
- Stack layers: Even in these categories, we are more interested in projects that don't focus singularly on gameplay, but rather broadly on how crypto may reimagine other stages of the gaming lifecycle.

VC에게도 똑같이 해당하는 내용인 것 같다.

https://n.news.naver.com/article/015/0004829513?sid=101

Fake it till you break it by Nami

Fixed supply FTs have flaws due to constantly fluctuating circulating supply and challenges in forecasting future needs. And fixed supply NFTs can create issues if they limit the availability of essential gameplay assets.
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Constraining supply through demand can lead to more sustainable game economies. The focus should be on creating authentic game economies using regulations and frameworks, rather than relying on artificial limitations.
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Highly agree that fixed token supply hinders potentials what tokens could do. BTC has its own way, but tokens for gaming are not equivalent to those utilities BTC has.

2 ways you can look at this chart:

- it’s completely over
- it’s a great chance to be early

https://twitter.com/Loopifyyy/status/1649084374275485697?s=20

+ Blur is dying

And one of the core competency of VC became creating libraries for those networks.

a16zcrypto's engineering team has released open-source tooling to serve devs, builders, and users in the crypto ecosystem. Six of our freshest libraries relate to:

- Symbolic testing
- Light clients
- Auction design
- Private airdrops
- New social networks
- Trusted setups

https://twitter.com/eddylazzarin/status/1645524017720467456?s=20

"How Venture Capitalists Make Decisions"
An inside look at an opaque process by Paul Gompers, Will Gornall, Steven N. Kaplan, and Ilya A. Strebulaev

Hunting for Deals
- more than 30% of deals: leads from VCs’ former colleagues or work acquaintances
- 20% of deals come from referrals by other investors
- 8% from referrals by existing portfolio companies
- 10% result from cold email pitches by company management

-> But almost 30% are generated by VCs initiating contact with entrepreneurs.

Narrowing the Funnel
101 opportunities are considered on average for each a deal to be closed
- 28 of those oppotunities will lead to meeting with management
- 10 will be reviewed at partner meetings
- 4.8 will be on Due Dilligence
- 1.7 will be on negotiation of termsheet
-> only 1 would be funded

After the Handshake
- Relatively inflexible on pro rata investment rights, liquidation preferences, and antidilution rights as well as vesting of the founders' equity, the company's valuation, and board control
-- Pro rata rights, 'Biggest source of our returns is ability to doube down on our winners'
- More flexible on the option pool, participation rights, investment amount, redemption rights, and dividends

Finding Alpha
- Post-investment services: strategic guidence(to 87% of their port-cos), connections to other investors(72%), connections to customers(69%), operational guidance(65%), hiring board members and employees(58, 46% each)

How VCs deliver "alpha"?
- Deal sourcing, deal selection, post-investment action were all keys -> but deal selection was the most critical

Most important factor of deciding success of their port-cos
- Management team, 'kick-ass team'

Interactions with their limited partners
- cared more about absolute performance than relative performance
-- 2007 to 2016 in the Burgiss Manager Universe had outperformed the Russell 2000 (a small-cap index) by 7% a year, on average, and the S&P 500 by nearly 5% a year. Almost 75% of those funds had beaten the Russell 2000, and roughly 60% had beaten the S&P 500

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A Venture Capital Glossary
Antidilution rights
allow the number of shares that current investors hold to be adjusted if future financing rounds are done at a lower price than the current round.

Liquidation rights
ensure that if a company is sold, the venture capitalists get paid before the founders do. They typically guarantee the amount invested or some multiple of it (for example, double).

Option pool
refers to an amount of equity set aside for grants to compensate current and future employees of the start-up. Usually it’s a percentage of the company’s total value.

Participation rights
allow venture capitalists to get back the face value of their investment (or a multiple of it) and then to share in the value created above that level at the time of a company exit.

Pro rata investment rights
give venture capitalists the right to invest in a company’s subsequent investment rounds and preserve their initial percentage of ownership.

Redemption rights
give venture capitalists the ability to return stock to the company—that is, force it to pay back the amount of the investment.

RTF Analysis
https://medium.com/@mhdempsey/why-your-startup-idea-isnt-big-enough-for-some-vcs-2440b61f6d36