Ventures

In this episode of Ventures, my guest Jonathan Hung (https://www.linkedin.com/in/jonathanhung/) and I discuss all-things venture building/investing, his work as a venture capitalist, and the story of his startup, Kitchen Data Systems (https://kitchdata.com/). We talk about advice for emerging fund managers, how founders and startup investors should be thinking about the current state of the market, the potential for Web3, interesting startup markets for investing, and general advice for entrepreneurs today. Visit https://satchel.works/@wclittle/ventures-episode-119 for detailed notes and links to resources (videos, articles, etc…) mentioned. You can watch this episode via video here.  0:56 - Tee-up for the episode, venture building/investing1:19 - Jonathan’s background and story, taking over the family business, investing, then becoming a founder (Kitchen Data Systems)4:03 - What sparked Jonathan’s interest in getting into the startup game himself?7:40 - For emerging fund managers listening in - first time fund managers - what advice does Jonathan have for them?10:35 - What’s Jonathan’s take on the current state of the market? How should we (founders/investors) be thinking about it?12:24 - How does Web3 change the game regarding community and customer acquisition?14:19 - How disruptive does Jonathan think that blockchains will be to change the game?15:47 - Is Jonathan thinking about a Web3 angle for his B2B kitchen business? See: https://www.harmony.one/ 17:22 - Are merchants allowed to extract customer data from credit cards? 19:03 - What areas/markets are Jonathan interested in from an investor perspective?21:23 - Where should people go to learn more about Jonathan and Kitchen Data Systems. https://jonathanhung.com/ // https://kitchdata.com/ 21:53 - What advice does Jonathan have for entrepreneurs starting out their journey?24:14 - Best way to get a hold of Jonathan: https://www.linkedin.com/in/jonathanhung/ 

In this episode of Ventures, I (https://www.linkedin.com/in/wclittle/) share a short monologue about Web3, product management, and leadership in Web3 startups, especially in Decentralized Autonomous Organizations (DAOs). I talk briefly about the history of Web1/2/3, Balaji Srinivasan’s book The Network State, a call-to-action for Web3 product managers and leaders, and how to distribute key CEO-like responsibilities in DAOs. Visit https://satchel.works/@wclittle/ventures-episode-118 for detailed notes and links to resources (videos, articles, etc…) mentioned. You can watch this episode via video here.  0:03 - Setup for the episode, a call to action0:39 - What is/was Web1? 1:05 - What is/was Web2? 1:42 - What is Web3? “Read/write/own” reference → https://eshita.mirror.xyz/H5bNIXATsWUv_QbbEz6lckYcgAa2rhXEPDRkecOlCOI 3:00 - Network State → https://thenetworkstate.com/ 3:18 - Product management/leadership from Web2 to Web34:17 - A call-to-action about Web3 product management from about a year ago (https://www.youtube.com/watch?v=5lru1_vZmXQ) // BanyanDAO → https://banyandao.xyz // Incubator → https://www.protaventures.com/labs 5:03 - Highly interested in helping to train Web3 product managers. A monologue about leadership as a combination of storytelling and management 6:03 - The three main things that any CEO has to do. In a DAO, this has to be shared. 6:56 - A call to action to join DAOs. Email will at will@wclittle.com // Twitter https://twitter.com/wclittle // Linkedin: https://linkedin.com/in/wclittle 

In this episode of Ventures, my guest Mike Anderson (https://www.linkedin.com/in/mikeandersonjr/) and I discuss all-things startup ideation in the modern era. In light of this being the topic of Week 1 of Prota’s new incubator (https://www.protaventures.com/labs), we dive into what makes a good idea, what makes a bad idea, how and why to integrate your idea with your own skills and knowledge of a market, how to reverse-engineer ideas based on what investors and consumers want, why finding startup ideas has changed over the years, and the importance of maintaining vision and grit through challenging seasons of startup life.Visit https://satchel.works/@wclittle/ventures-episode-117 for detailed notes and links to resources (videos, articles, etc…) mentioned. You can watch this episode via video here.  1:24 - Tee-up for the episode, start of the new incubator program 1:39 - Is it too late for people who are just hearing about this incubator to apply?2:13 - Where can people to go sign-up? https://www.protaventures.com/labs 2:30 - Startup Ideation. What is a good startup idea? How has that changed? 3:00 - Question for Mike: What makes a good startup idea? 4:05 - Will’s talking point about founder-market fit and solving market needs. Don’t solve other people’s theoretical problems.6:14 - VCs will publish their request for startups / areas they are looking to invest in. See, for example, https://www.ycombinator.com/rfs  6:48 - How has the startup game changed in light of evolving technology? What hasn’t changed?8:21 - “Why now” changes in light of Web3 and various decentralization technologies and approaches.9:15 - If you can “theoretically” need it vs. “I need it right now and would pay for it” 10:34 - When thinking about ideas, you can’t reduce it to its component parts.11:10 - What are the ideas that are more compelling to Mike when he gets pitched ideas? (see the wave coming)12:52 - New technology (like a blockchain) allows new ways to disrupt common Web2 companies like Uber/Amazon/etc… 13:50 - “Your margin is my opportunity” 14:10 - Your idea never stops15:08 - It’s important to “go” and “ship” and provide value for your customers. Speed of shipping is highly correlated with success.16:50 - The importance of making the startup building process “fun” 

In this episode of Ventures, my guest Joe De Pinto (Co-Founder of https://www.HasteArcade.com) and I discuss his entrepreneurial journey from being a professional baseball player to starting a Web3 company. We talk about his choice to build on BSV, what that experience has been like, the types of games that are available in the arcade, the marketing strategies his team has used, entrepreneurial lessons learned, Web3 features deployed, and overall thoughts about the promise of Web3.  Visit https://satchel.works/@wclittle/ventures-episode-116 for detailed notes and links to resources (videos, articles, etc…) mentioned. You can watch this episode via video here.  1:08 - Tee-up for the episode 1:19 - Joe’s background and how he got into Web3 (not the typical journey), starting BarPay, 6:27 - BTC forking into BCH and BSV8:50 - Launching Haste Arcade9:34 - What is Haste Arcade? What is its value proposition? 11:42 - What kind of games are in Haste Arcade?13:22 - What has it been like building on BSV? 15:53 - What has the marketing strategy for Haste Arcade been? How is it going? // Play to earn strategies. 19:20 - How is Mike thinking about Web3 in general? What is he most excited about? (a discussion about micropayments)23:13 - Entrepreneurial lessons learned. What advice does Mike have for fellow entrepreneurs out there?25:49 - How can people play in the HasteArcade? Go to HasteArcade.com 26:18 - How can people get a hold of Mike to continue the conversation? @HasteArcade on Twitter and on Discord 

In this episode of Ventures, my guest Mike Sorgenfrei (https://www.linkedin.com/in/msorgenfrei/) and I discuss his web3 startup, Encore (https://encore.fans). We talk about its origin story, where Encore fits in the marketing software stack for an athlete/influencer, self-sovereign identity for fans, how Verified Credentials are being used, how to build a profile of a fan by allowing them to opt-in their data directly, and the entrepreneurial journey that Mike and his team have taken to get a web3 startup off the ground. Visit https://satchel.works/@wclittle/ventures-episode-115 for detailed notes and links to resources (videos, articles, etc…) mentioned. You can watch this episode via video here.  1:19 - Setup for the episode, enjoying hearing web3 entrepreneurial stories and learning about practical applications and startups in the space.1:37 - Mike’s background and story into Web3 and starting Encore4:16 - The Encore origin story and more details.7:19 - What is a Verified Credential? For homework, see: https://tykn.tech/verifiable-credentials/ 8:30 - Verified Credential as matching centralized data to web3 data9:08 - How is Encore using Verified Credentials? 10:40 - If I’m on Katy Perry’s staff (hypothetically speaking), how am I using Encore? Where is the data? How is it used?13:29 - Where does Encore fit in the software stack of someone working with an influencer? With a fan?16:25 - Will Encore be an app on a fan’s phone? Or integrated into an influencer / athlete’s app?17:00 - Right out of the gate, what apps would I have on my phone that would have Encore? What is Encore’s go-to-market strategy?17:57 - If an influencer doesn’t have their own website or app, they can use their own page on Encore.18:27 - What does the Encore roadmap look like over the next year?20:33 - As a superfan of some athlete, what are examples of the kinds of perks I would be receiving by engaging with Encore?23:35 - How have college athletes connected with their fans before Encore?26:03 - Extending Encore to podcasters and other influencers over time28:16 - What are Mike's reflections and commentary on the Web3 space in general?31:38 - Learn more about Encore at https://encore.fans and @encore_fans on all the socials. 

In this episode of Ventures, my guest Mike Anderson (https://twitter.com/MikeyAnderson) and I discuss in much greater detail the syllabus, ideal candidates, and time commitment of the new ideation incubator (https://www.protaventures.com/labs) that we introduced in episode 112 (https://satchel.works/@wclittle/ventures-episode-112). We talk in depth about the range of founders who should apply (from “pre-idea” to “pre-seed” teams), the outcomes of the incubator, info sessions on Fridays leading up to Oct 4th start, the minimal time commitment required, and a short synopsis of each of the 16 sessions of the program in October, November, and December of 2022. As a quick reminder, this incubator is free and 100% remote; we are happy to serve and welcome founders at the idea stage from all over the world.Visit https://satchel.works/@wclittle/ventures-episode-114 for detailed notes and links to resources (videos, articles, etc…) mentioned. You can watch this episode via video here.  2:08 - Quick recap of episode 112 (https://satchel.works/@wclittle/ventures-episode-112). What we’re doing, what the incubator is, who is it for, etc..2:46 - Also applicable for people who want to be a CEO of an existing idea being incubated, good resume building experience, etc… 3:30 - What are the outcomes of the ideation incubator? 4:25 - You’ll have a clickable prototype in figma, market validation (or not, requiring a pivot), and you’ll have a community of people. 5:12 - Overview of the next part of this podcast: info sessions, time exceptions, who should apply, and course syllabus information.6:06 - More information about the info sessions. 8:15 - More details about who should apply? What stage should they be at with their idea?9:41 - If you have done a lot of ideation work already with your startup idea.11:24 - There will be some exciting guest speakers that we’ll be revealing soon. 11:34 - Time requirements details for people considering applying to the program. (screen sharing). Tuesdays and Thursdays at 12pm Pacific US Time will be the sessions. Plus office hours available in the mornings those days.14:37 - Walking through the program syllabus15:10 - Session 1 - The Idea16:49 - Session 2 - The Market18:03 - Session 3 - The Team (more than just your co-founders)18:42 - Session 4 - Surveys19:36 - Session 5 - Interviews21:30 - Session 6 - Vision (https://www.amazon.com/BE-2-0-Beyond-Entrepreneurship-Business/dp/0399564233) 22:49 - Session 7 - Branding23:20 - Session 9-10 - Writing/Designing/Creating a Landing Page25:07 - Session 11 - Marketing26:03 - Session 12 - Designing the Prototype26:25 - Session 13 - Internal showcase27:00 - Session 14-15 - Pitch Deck (even at idea stage)28:26 - Session 16 - Demo day29:00 - Schedule of sessions in Oct / Nov / Dec of 202229:57 - Final thoughts from Mike about why this incubator / startup society matters.30:49 - To learn more - go to https://www.protaventures.com/labs and Twitter (https://twitter.com/ProtaVentures) - and follow Mike on Twitter: https://twitter.com/MikeyAnderson) 

In this episode of Ventures, my guest Jesse Bryan (https://twitter.com/jessebryan) and I discuss his new project, Alphi (https://twitter.com/alphixyz). Alphi’s vision is to be a source of trusted and transparent information in the NFT community to help collectors “do their own research” effectively. We talk about the background and motivation for the project, why trusted information is so hard to find, analogies to information being shared from public companies, and more details about Alphi’s product roadmap and timeline. Visit https://satchel.works/@wclittle/ventures-episode-113 for detailed notes and links to resources (videos, articles, etc…) mentioned. You can watch this episode via video here. 1:31 - Episode tee-up from Will, commentary on the NFT space, people who are actually building are shipping new projects daily….it’s hard to keep up.2:06 - Background of the idea where Alphi came from, information silos, unfair access to information, etc..3:07 - “Do your own research” // How do you do that? // How did Jesse do this with some of his own research on projects5:02 - Functional community journalists in projects5:51 - Building a wikipedia / glassdoor / IMDB style platform for the NFT community6:30 - Watching out for rug pulls / creating transparency8:15 - The second piece of Alphi - a daily ticker / feed of more information8:30 - Why does the NFT space matter? Why does paying attention to it matter?12:35 - Alphi helps protect non-Web3 native people… it’s a source of trust.13:31 - Commentary about the amount of alpha buried within Twitter Spaces, discords, etc.. very small number, not falling into the same traps of Web 215:00 - “The more you give, the more you have” // Helping people who are working a normal job swinging a hammer16:54 - Analogy to information being presented at a stockholder meeting for a public company; in the NFT space, that happens in a random Twitter Space and doesn’t even get dropped on an official channel until later (if ever). 19:25 - Generous people who help onboard people into NFT communities. Alphi can help save time since information can be centralized.20:26 - Alphi product timeline, features to expect. Looking to find community journalists from the different projects. Looking for people to join the Alphi team.22:26 - Alphi lore / artwork / mechanical hints 23:39 - Is Alphi doing its own NFT drop? More information about the Alphi Genesis drop. 24:53 - Final thoughts - need for Alphi - vision and call-to-action. https://twitter.com/alphixyz 

In this episode of Ventures, my guest Mike Anderson (https://www.linkedin.com/in/mikeandersonjr/) and I discuss the launch of a new startup incubator program hosted by Prota Ventures (learn more and apply here →  https://www.protaventures.com/labs). We talk about the program’s background, motivation, vision, details, mentorship and investor opportunities, cohort model, and more. Prota has an enormously successful track record of incubating and investing in startups at their earliest stages. This new incubator is for those who either want to work as a startup CEO on an existing idea, bring their own idea to the table, and/or propose a general market area for us to incubate a new startup idea together within.Visit https://satchel.works/@wclittle/ventures-episode-112 for detailed notes and links to resources (videos, articles, etc…) mentioned. You can watch this episode via video here. 1:29 - Setup for the new incubator, in light of the internet era and Web3 2:02 - Mike intro, background, DAOs, and tee-up for the new cohort coming Oct 4th3:10 - More information about the new incubator with the labs division of Prota Ventures: https://www.protaventures.com/labs 5:05 - Clarity about the definition of what an “incubator” is, the types of founders that should apply to Prota’s new incubator...7:00 - Web2, to Web2.5, to Web3…and the various types of companies can leverage the changing internet. 7:30 - Mike’s story of back in high school he thought that all the good startup ideas were already taken…but new technology brings new innovation and entrepreneurial opportunities. 8:30 - How would Will advise entrepreneurs to think about starting and validating their new venture idea: link to apply: https://www.protaventures.com/labs // How to determine if people actually want your new product. 10:45 - You can also apply to this incubator if you want to work on an existing idea. 11:26 - More information about the “Plate” idea that you could be CEO of. 12:31 - More about the structure of the incubator in Q414:30 - The Figment story and Will’s background in Web3, different segments in Web3, the power of DAOs. 16:34 - Mike’s commentary on why he’s sending his friends to Prota’s incubator. // “Best path I can imagine for starting a company”17:33 - More information about the “Startup Rocket” idea that needs a CEO. https://www.startuprocket.com/ 19:41 - More information about “Satchel” that needs a CEO → https://satchel.works/20:40 - Info about “Connect Hero”, its need for a CEO, and its promise for the future.22:35 - Info about “Research and Me” and its need for a CEO → https://www.researchandme.com/23:35 - Info about 80 West Labs / CEO need → https://www.getvessi.com/24:49 - Info about the “Workstreams” app / CEO need.26:28 - Summarizing the community based support and cohort model for the incubator that begins Oct 4th. Mike is hosting welcome meetings between now and when the cohort starts. First meeting is this coming Thursday at 11am PDT. 27:27 - Concluding thoughts from Will, also summarizing what the incubator is and how to apply. Go to → https://www.protaventures.com/labs 

In this episode of Ventures, my guest Drew Glover (https://www.linkedin.com/in/drewbailerglover/) and I discuss all-things FinTech, growth, venture capital, and Decentralized Finance (DeFi). We cover his background co-founding Fiat Growth (https://www.fiatgrowth.com/), raising a $15m fund w/ Fiat Ventures (https://www.fiat.vc/), the overall FinTech landscape, advice for founders leveling up their growth strategies, and the future of finance technology for entrepreneurs and the rest of the world. Visit https://satchel.works/@wclittle/ventures-episode-111 for detailed notes and links to resources (videos, articles, etc…) mentioned. You can watch this episode via video here. 1:23 - Tee up for the episode, background of the show, entrepreneurial stories, etc..1:49 - Drew intro and background5:11 - Define for the audience: What is FinTech? What isn’t FinTech? 7:39 - FinTech definition recap. Would DeFi be under FinTech? How does Drew think about Decentralized Finance?11:23 - What was it like to raise a $15m Fund for Drew? What advice would he have for first-fund VCs? 14:07 - Did they finish raising their fund before the market started tanking?15:06 - What is Drew’s take on the FinTech landscape? What is his thesis on the space? Where should entrepreneurs be looking at for opportunities?18:16 - Given Drew’s background in growth and FinTech - how should an entrepreneur who is building a FinTech company be thinking about acquiring customers in such a noisey landscape?22:17 - Book: How to Lie With Statistics (https://www.amazon.com/How-Lie-Statistics-Darrell-Huff/dp/0393310728)  // Commentary on vanity metrics23:04 - What is Drew’s advice for a founder who doesn’t have much of a budget to hire a growth team? 25:26 - What is Drew excited about regarding the future of FinTech? Learn more about Copper: https://www.getcopper.com/27:57 - Drew’s firm led Copper’s Series A. // Where can people find Drew online? LinkedIn: https://www.linkedin.com/in/drewbailerglover/ // https://twitter.com/drewbailer 

In this episode of Ventures, my guest James Bayly (https://twitter.com/jamesabayly) and I discuss SubQuery (https://subquery.network), including information that Web3 developers need to know about how to practically access data from blockchains to engineer decentralized applications. We talk about the various APIs available, where SubQuery fits in the Web3 data availability landscape, the difference between indexers and RPC nodes, SubQuery’s financial model, and what excites James about the Web3 space in general.Visit https://satchel.works/@wclittle/ventures-episode-110 for detailed notes and links to resources (videos, articles, etc…) mentioned. You can watch this episode via video here. 1:37 - Tee-up for the episode, why Web3 matters, what we talk about on this show1:43 - How did James get into Web3?3:33 - AI and blockchain as different worlds. How people start their journeys into these spaces. More information about Subquery and where it sits in the ecosystem.7:35 - What kind of APIs are available for developers with Subquery? (GraphQL, flexible)9:16 - What kind of blockchains does Subquery support?11:06 - Understanding the landscape. How is Subquery different from Infura and The Graph?12:59 - What advice does James have for developers / entrepreneurs when choosing indexers and finding data sources for your dApp?19:30 - Is Subquery just a read-only service? 21:16 - What is the “write” process for developers?22:24 - What is the difference between RPC nodes, validators, and indexers?24:27 - How is an RPC node different from the indexers that Subquery provides?25:49 - How does Subquery make money?28:35 - Securities laws concerns and considerations when generating a token.32:36 - How to evaluate projects with anons as founders. 34:56 - What excites James about Web3 in general for impacting the world for positive good?37:40 - Where can people find James and Subquery online? https://twitter.com/jamesabayly // https://subquery.network