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The founder of Twitter cries about VCs on Twitter and a $150k hack

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Let's start with the highlights this week - oh and Merry Christmas!

1/ In 6 hours from now, I will be having Live Office hours on YouTube, talking about Web3, NFTs and DAOs answering your questions! Let me know if I should be doing more Live Office hours about Startups, Crypto and other futuristic topics!

Click here and then on the "Reminder on" button! It is going to be super fun!

This Live will be recorded, edited and posted some time in future but I highly suggest you watch it live.

2/ Last week I posted about $Victory coins and that whoever posts on social media "I am Victorious" and tags me is going to get 100 $Victory coins.

I've seen you and I'll reach out in the next couple of weeks, asking for your Ethereum address to send you your coins. To the people that watched my previous videos and requested to send them a song, it is coming this week!

The rest of the people that found the "secret" messages on the videos, I've sent them a physical gift but I have NO IDEA why it takes sooo much time.

2022 will have tons of surprises. Trust me on this. It is going to be beyond epic.

3/ I found on Twitter, this AMAZING image with the 20+ Powerful Paradoxes of life. My favorite is the "Fear Paradox". Which one is yours?

A very successful Entrepreneur told me that she reads this once every week. It helps her regain focus and slow down. Maybe this is one of your New Year's Resolutions?

4/ Jack (the founder of Twitter) got trashed on Twitter while venting for web3.

It seems that he violated the first rule of Web3:

Community > VCs

For the majority of Web3 projects, no VC/Angel funding is needed. Actually it is a huge red flag. Why is that?

The most important thing that a Startup needs to do is fail. Yes, fail. It took me a lot of time to get this into my mind as I was poisoned by my European mentality.

Building Startups to Fail means to do things that are not scalable. Things that will crash because you have too many customers. And Web3 projects either have an insane amount of customers (that usually pay or can be monetized easily) or none.

The traditional funding model doesn't apply here.

Product market fit in Web3 means "printing money". Product market fit in Web2 is your first 100 (free) subscribers.

5/ In related news, the Twitch co-founder Justin Kan, after selling Twitch to Amazon for almost $1 Billion, he spent some time chilling and decided to enter the NFT space with a new Startup: Fractal.

The idea is very nice (selling NFTs as game assets) but not even a week after the launch, $150k were stolen. Why? Because blockchain development is hard.

This is why tons of executives and engineers are leaving their $500k per year jobs to jump into web3. By now I should be sounding like a broken record :)

That's all for this week, see you next week!

-- Jon V (as in Victory)

If you liked this article, you are going to love this
Learn my simple, repeatable process for transforming ideas into Startups using my free email course "Built To Fail". Enter your email in the box below and I'll send you Lesson #1.

- Fri 24 December 2021

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