$COIN partners with $BLK, $AMZN acquires iRobot for $1.7B, Jay Trading update + OK Boomer | E1527

Aug 6, 2022

Marcus Milione, founder of Minted and TikTok influencer, shares insights on building a personal brand and monetizing passion projects. He discusses the challenges and realities of entrepreneurship, emphasizing authenticity and balancing personal life with business. The conversation touches on the evolution of influencer culture and how social media impacts brand growth. Milione also hints at upcoming clothing releases and production strategies that reflect a shift towards flexibility in the fashion industry.

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INSIGHT

Coinbase's Volatile Ride

Coinbase's stock price has been highly volatile since its direct listing in April 2021, reaching a $77B market cap before plummeting to $10.9B.
This highlights the challenges of investing in hyped-up markets and the importance of understanding when to liquidate.

ADVICE

Bottom-Feeding Strategy

Consider bottom-feeding during market downturns, as prices may be undervalued.
Jason Calacanis started "J Trading" in July based on his belief that the summer would be a bottom moment for the market.

INSIGHT

Coinbase's Existential Crisis

Coinbase faces an "existential crisis" due to SEC investigations into selling unregulated securities.
The core question is whether cryptocurrencies are utilities like airline miles or securities like stocks, impacting regulation.

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Zero to One

Notes on Startups, or How to Build the Future

Peter Thiel

In 'Zero to One,' Peter Thiel argues that true innovation comes from creating something entirely new, going from 'zero to one,' rather than incrementally improving existing ideas. He emphasizes the importance of vertical progress through technology and the benefits of monopoly in driving innovation. Thiel also discusses the need for long-term planning, the importance of finding the right co-founders, and the power law in startup success. The book challenges conventional wisdom and encourages readers to think critically and aim big to build the future[2][3][5].

The Lean Startup

Eric Ries

The Lean Startup introduces a revolutionary approach to building and scaling businesses, emphasizing continuous innovation, customer feedback, and scientific experimentation. Eric Ries defines a startup as an organization dedicated to creating something new under conditions of extreme uncertainty. The book advocates for 'validated learning,' rapid experimentation, and the Build-Measure-Learn feedback loop to shorten product development cycles and measure actual progress. It also stresses the importance of pivoting or persevering based on data and customer needs, making it an essential read for anyone involved in starting or growing a business[1][2][5].

The E-myth revisited

why most small businesses don't work and what to do about it

Michael E. Gerber

The E-Myth Revisited challenges the common assumption that most businesses are started by entrepreneurs. Instead, Gerber argues that most businesses are started by technicians who understand the technical work but not the business itself. The book introduces the concept of the E-Myth and explains that successful business owners must balance three roles: the Entrepreneur (the visionary), the Manager (the planner and organizer), and the Technician (the one who performs the technical work). Gerber emphasizes the distinction between working 'in' your business and working 'on' your business, and he provides strategies for systemizing and scaling businesses, including the concept of the Franchise Prototype.