The Tim Ferriss Show

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#550: Andrew Chen — Metaverse, Metrics, and Meerkats

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Nov 30, 2021

Guest

Andrew Chen

In this engaging conversation, Andrew Chen, a general partner at Andreessen Horowitz, dives deep into consumer technology and innovation. He shares insights on startup strategies, including the infamous 'cold start problem.' The discussion touches on the evolution of Twitch, gaming metaverse, and the impact of Web3 technologies. Andrew emphasizes the importance of choosing meaningful metrics for success and reflects on the transformative potential of NFTs for creators. He also critiques traditional education methods while advocating for innovative learning approaches.

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ANECDOTE

Origin of Coupons

Andrew Chen recommends Claude C. Hopkins' book "My Life in Advertising".
Hopkins invented coupons and other direct marketing tactics in the early 1900s to solve the cold start problem for new products.

insights

INSIGHT

Crossing the Chasm

Sharing an office with Jeffrey Moore, author of "Crossing the Chasm," gave Andrew Chen valuable insights into technology adoption.
Moore's framework highlighted the challenge of bridging the gap between early adopters and the mainstream market.

question_answer

ANECDOTE

Birth of Growth Hacking

Sean Ellis, while working with startups like Dropbox, coined the term "growth hacking".
Frustrated with founders' misinterpretations of "marketing," he emphasized data-driven product growth.

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Exploring Consumer Technology and Innovation

04:12 • 2min

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Marketing Evolution and Content Creation

06:27 • 22min

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The PayPal Mafia and Startup Strategies

28:13 • 14min

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Navigating the Startup Reality: Challenges and Misconceptions

42:21 • 2min

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The Evolution of Twitch and the Gaming Metaverse

44:45 • 32min

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Navigating Startup Metrics and Investment Dynamics

01:16:41 • 28min

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Navigating the Podcasting Landscape: Opportunities and Ownership

01:44:28 • 5min

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Empowering Creators in the Web3 Landscape

01:49:33 • 9min

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Reflections and Resources

01:58:40 • 7min

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Doing Good Better

Will MacAskill

Crossing the Chasm

Geoffrey Moore

In 'Crossing the Chasm', Geoffrey A. Moore explores the Technology Adoption Life Cycle, which includes innovators, early adopters, early majority, late majority, and laggards. He highlights the significant gap or 'chasm' between early adopters and the early majority, where early adopters are willing to sacrifice for the advantage of being first, while the early majority waits for evidence of productivity improvements. The book provides strategies for narrowing this chasm, including choosing a target market, understanding the whole product concept, positioning the product, building a marketing strategy, and selecting the most appropriate distribution channels and pricing. The third edition includes new examples, strategies for digital marketing, and connections to Moore's subsequent works like 'Inside the Tornado'.

The Cold Start Problem

Andrew Chen

My Life in Advertising

Claude Hopkins

In 'My Life in Advertising,' Claude C. Hopkins shares his extensive experience and insights gained from over three decades in the advertising industry. The book is a blend of autobiography and practical guide, offering timeless principles on effective advertising. Hopkins emphasizes the importance of understanding the consumer, using specific and definite claims, and testing advertising strategies. He also discusses his methods for creating successful ad campaigns, including the use of free samples, the appeal of personalities over corporations, and the necessity of focusing on the consumer's needs rather than the advertiser's pride in their products. Despite being written in 1927, the book's principles remain relevant today, making it a valuable resource for anyone in the advertising and marketing fields.

Andrew Chen — Metaverse, Metrics, and Meerkats | Brought to you by 80,000 Hours free career advice for high impact and doing good in the world, Wealthfront automated investing, and Helix Sleep premium mattresses. More on all three below.

Andrew Chen (@andrewchen) is a general partner at Andreessen Horowitz, where he invests in consumer technology, including social, marketplace, entertainment, and gaming experiences. Today, Andrew serves on the boards of All Day Kitchens, Clubhouse, Envoy, Hipcamp, Maven, Reforge, Sandbox VR, Singularity 6, Sleeper, Snackpass, and Substack.

Andrew is a prolific writer and leading voice on mobile, metrics, and user growth. For the past decade, he’s covered the topic on AndrewChen.com. He is the author of The Cold Start Problem, a book exploring how new startups are launched. He is also a board member and instructor at Reforge, which offers selective, growth-focused programs for experienced professionals in marketing, product, data, and engineering.

Please enjoy!

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