If you are late to the blockchain/crypto party like I am -- you might find my notes here useful..
We are in an era of "crypto-driven" business model disruption; liquidity events have inverted with ICOs ($ -> build value; from build value -> $); there has been almost a trillion $ in wealth created through cryptocurrencies; a lot of ups and downs.
In this I make the case for learning the key long-term lesson from bitcoin: design well-structured, self-supporting incentive system for your product/service. The concepts around how cryptography is used and decentralization are tangential to the underlying message.
Overall, blockchain is best used sparingly, and best used with reward tokens. It is an extremely inefficient system compared to a regular relational database and a huge distraction from building out the product's core value proposition.
Julie HachéI've been a member for a few years. I haven't found a place where I can be more productive than here. It's also great for meetings, but not being able to make calls could be a pain. I travel a lot so the multi-city membership is worth it for me.
Erin BuryI’m a member! I don’t use it like the cool kids (evenings & weekends) - I go for a lot of breakfast and lunch meetings. I find it’s worth it if you want a spot to take meetings/clients that’s a cool, with a good vibe and good drinks/food. It’s also a great place to work remotely (aside from not being able to take phone calls except in the halls/reception are). We’ve also hosted events there & they have great spaces to leverage. I actually know two companies who use Soho as their office - they get each employee a membership instead of paying office rent - employees are jazzed that they get a membership, and Soho likes it because they get more people in on weekdays (their slow time) - they can receive your mail, do printing/mailing/etc, and book spaces for boardrooms. They also do a ton of events, movie screenings, parties, etc. But I have to admit I don’t use it for that often. And I’ve been to NYC and Miami houses but that’s it - but only for parties, not for work. With a Toronto membership you get access to Chicago - otherwise you have to get the all-house membership (more expensive) - I don’t travel enough to need it, but I imagine it’s handy if you do travel a lot since most of the global houses have hotels attached to them. Hope this helps & happy to answer any more questions!!
Chris HamoenAyhan K. Isaacs is a member and says it’s worthwhile depending
9 hours ago
Alex De BoldJulie Haché, Pete Forde, Erin Bury are 100% right. If you were in Miami just half a day longer I could have shown you Soho Beach house. It's our second year visiting and it really can't be beat. We were hanging out the pool or beach and a cool Cuban trio was playing during Sunday brunch. I've also been to NYC's Soho House which is 5x the size and impressive. Food is awesome, people are awesome. If it's about combing a great work space and a place to hang out with other like minded folks it can't be beat. Starbucks and Wework be dammed. It's kind of my unofficial mission to visit as many of the houses I can - Barcelona and Berlin are high on the list!
WhereUniversity of Toronto WhenFriday, January 19 at 5:30 PMAboutJoin YC partners and alumni for a talk at the University of Toronto, on Friday, January 19, hosted by The Hatchery's Accelerator Weekend. We'll talk about how to structure a great pitch, what YC looks for in companies and what it's lik...
May be a silly question...but what are the disadvantages to having a dissimilar 'legal name' and 'trade name' (i.e. "doing business as" name)? Currently our trade name sounds nothing like our legal name and we're considering making that change. However, Snap Inc. charges about a grand to register that name change across Canadian provinces, so just seeing if it's worth it. ... See MoreSee Less
Derek JohnIf you want to protect your brand, look to registering a trademark rather than a trade name. Much better use of your money and you'll get actual protection. Trade names really don't do much other than tell the world you're using a different name than your legal name.
Tony Abou-AssalehOther than some inconveniences and confusions with billing and what not here and there, the important thing in the early days of a startup is to have only one brand. To that effect, you want your company name and product name to be the same. Otherwise you'd be spreading yourself too thin and diluting the brand unnecessarily.
2 days ago
Rubsun HoFirst question needs to be why you have a different legal name and trade name. If, as the others have noted, you are trying to build an operating brand with your trade name and your legal name has no meaningful purpose, then it is probably worth changing the legal name of the company. All of your legal contracts, payroll, leases, registrations, etc. need to be under your legal name and having the trade name can confuse matters and may screw things up when someone inadvertently uses the trade name in an agreement. A note about trademarks as well: you get "common law" trademark rights by virtue of usage of the trademark in the places where it is used. ie you can assert trademark rights without spending the money to register it. However, spending the money to register the mark in different jurisdictions will put others on notice and allow you to enforce the mark across that geography.
1 day ago · 1
Bob VaezThe sooner you change your legal name to be the tradename you like to operate under, the better :) Less hassle, lower cost down the line.
What are all the cool kids using to stay up to date on events in the Toronto and KWC area? I am subscribed to Startup Digest for those areas, but there is now radio silence there. The mailing lists no longer come and the calendars are blank. That said, they seemed to collbaorting with tech stars and have all these great reading lists they send now, but those aren’t about events. ... See MoreSee Less
Alexander NormanJoin our mailing list at TechToronto.org we will be starting to curate a list of events in Toronto/KW on a monthly basis and yes it will include events other than our own. Likewise if you want your event to be included in our list email as at [email protected]
2 days ago · 5
Jaxson KhanOneEleven Newsletter
and the indelible Iskender Piyale-Sheard
Hi Everyone, I'm wondering if theres anyone here who can answer some questions I have about executive compensation packages at the seed stage. I'm creating our HR plan, I've done a bunch of reading and feel that I need to compliment it with real world perspective. ... See MoreSee Less
Paul MarekBest post in this group (for early stagers) so far. This has to be the huge concern for all of us. I know my tech. I know my market. I know my culture, customers and community. But HR baffles me.
Kevin KlimanThere isnt a lot of standardization at the seed stage. What you put together should be largely based on your situation. The profile of the people you need to support and the time frame for proving out the company / getting to the next stage of building the company.
2 days ago · 1
Chris HamoenJust be careful - #1 by far is that the exec recruit deeply believes in your mission and really wants to join. If it’s about comp 1st, opportunity second then walk away
A story which needed to be written. Kik became a crypto-driven unicorn, worth over US$1 billion, on Jan 6th 2018 based on the value of their Kin holding (Kik and related entities own 92.4% of 10 trillion Kin tokens according to Etherscan).
Diving a little deeper here shows how a few whales (holding tens of billions of Kins) and a YouTube influencer seemingly drove the surge of activity in the run from a $50 million market cap to over $1.1 billion. One such whale engaged in almost 10,000 transactions while most of others in the top 10 Kin holders averaged less than 10 each!
The good thing about the blockchain is that everything is open, and you can see which wallet traded how much/when and holds how many Kins.
Disclaimer: I own about 15000 kins which are worth about $10. I believe on the Kik app, a select set of users can buy stickers for around 8 Kin, just to put all this in perspective.
Shane StewartJust a bunch of noise. Kin has poor liquidity because it doesn't trade on any decent exchange. Any value it gained or lost was based on very little $ volume.
I'm under the impression that most exchanges charge a listing fee these days. I assume they're waiting until they switch blockchains before paying these fees or they're worried about the potential liability of doing so.
4 days ago
David KingBiggest insight gleaned here that I’m going to take away and look at myself is how you value the relative value of crypto assets to other assets.
3 days ago
Varun MathurIn crypto world, greed is not just good, it is god.
Such ERC-20 tokens (most such coins are based on ERC-20..) have value if they play a fundamental role in increasing the value of the underlying product. Say, what if Medium introduces a CLAPCOIN as a method of payment to authors; or Facebook introduces a LIKECOIN for good posts only and punishes you for spreading bad content, and so on... so crypto economics is the #1 thing today in my mind. How you design the economy of your product is what is re-defining startups today -- and other aspects of implementation (AI, etc) are less interesting and routine now.
If you don't have a product, then it is all just bullshit. In nicer words, without a real product, coins are purely speculative plays and its like betting on variable names (dentacoin, dogecoin, etc) and getting into a ponzi scheme ahead of others to cash out. Few will make money, and most will lose money -- thats exactly how ponzi schemes work: newer investors pay for the older ones until it can't sustain itself and one day the system crashes.
In the market we are in, a coin called PONZI would do really well and be worth over a $1 billion in no time. People are willing participants due to their greed and even recognize that these are ponzi schemes and still get excited about them. Charles Ponzi would have been proud of all these crypto coin launchers with no underlying value and who need a year to build a basic software product based on their "white paper".
3 days ago · 2
Varun MathurI updated the post with few more findings:
- Kik became a crypto-driven unicorn (over US$1 billion) due to the size and value of their holdings on Jan 6th 2018, for a brief period of time.
- Whales made this market. The fellow/entity with the 6th highest Kin holdings has made almost 10,000 Kin transfers while every other top Kin holder has done less than 10 apart from system accounts.
- It is weird that there are whales selling/buying Kins in billions, while on the Kik app the sticker packs sell for 8-15 Kin. What kind of "world" is that ?
3 days ago
Jonathan BegaIt's not quite a Ponzi scheme, per se. It's more like exuberant excitement + greater fool theory, which is par the course for new technology on the market. The main difference is that non-accredited investors are now starting to push tons of cash into various altcoins (read: shitcoins), and most of these investors are not what you would call savvy. This does a few things:
1) Pumps a ton of horrible, horrible shitcoins with no intrinsic value or business case through the roof. See: Tron, Cardano, Kin, and basically 95% of the market.
2) Increases the market value enormously of everything, which causes a feedback effect for a while as people rush to put more money in. We all know how it'll end.
3) Creates a situation where insider trading is par the course and whales scheme to create pump & dump schemes to bilk the average person into giving away their money (see the HODL mantra).
Anyway, it's fine when people are using money they can afford to lose, and it's very dangerous when said people start investing their life savings (see South Korean situation).
That being said, when the casino is offering 10:1 on the roulette wheel, you'd be stupid not to spin.
Melissa Shapiro Nightingale shared a link to the group: StartupNorth.
Good morning StartupNorth! Team Raw Signal Group (rawsignal.ca) is growing and we're looking for a dedicated training space. We are open to a new lease or a sublease. We want about 1500-2000 sq ft in downtown Toronto, ideally within the tech corridor. Must have: Natural light. Separate entrance. Renos/customization possible. Elevator access. Please PM me if you have ideas/leads! ... See MoreSee Less
Heather PayneWe have three classrooms (out of four) that are pretty much unused during the day - just used for evening classes. Two are in their own building with lounge below. In case you’d like a more flex solution in the meantime! HackerYou.com/bookourspace
Liz NucciHi Melissa - I specialize in securing flexible real estate solutions for growing tech companies. My partner, Byron, actually helped Heather secure space for HackerYou.
Heather - we haven't met yet, but I'd love to join Byron next time he's at your space :).
Melissa - That's great if the HackerYou space works for your team... I've heard awesome things! If not, feel free to email me at [email protected] to further discuss your space needs.
Caitlin Henry MacGregorWagepoint is amazing!! I switched from Ceridian and can’t say enough about the incredible user experience and customer experience. Works for Canadian and US payroll. Also, local!