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CDIXON | BLOG | 1
NFTs and A Thousand True Fans. 2021-02-27. In his classic 2008 essay “1000 True Fans,” Kevin Kelly predicted that the internet would transform the economics of creative activities: To. CDIXON | NFTS AND A THOUSAND TRUE FANS The thousand true fans thesis builds on the original ideals of the internet: users and creators globally connected, unconstrained by intermediaries, sharing ideas and economic upside. Incumbent social media platforms sidetracked this vision by locking creators into a bundle of distribution and monetization. There are, correspondingly,two ways
CDIXON | THE COMPUTING DEPLOYMENT PHASE In the deployment phase, the action shifted to the app layer: the highway system, shipping, suburbanization, big box retail, etc. This pattern is repeating itself in the computing/internet revolution. Most of the successful startups in the 90s built core infrastructure (e.g. optical switching) whereas most of the successful startups since then CDIXON | THE IDEA MAZE Good startup ideas are well developed, multi-year plans that contemplate many possible paths according to how the world changes. Balaji Srinivasan calls this the idea maze: A good founder is capable of anticipating which turns lead to treasure and which lead to certain death. A bad founder is just running to the entrance of (say) the“movies
CDIXON | WHY DECENTRALIZATION MATTERS Decentralization is a commonly misunderstood concept. For example, it is sometimes said that the reason cryptonetwork advocates favor decentralization is to resist government censorship, or because of libertarian political views. These are not the main reasons decentralization is important. CDIXON | EMBRACE THE MEDIUM An obvious but surprisingly under-practiced design principle is to “embrace the medium.” Applied to software, this means building applications that take advantage of the strengths of the platform instead of trying to mimic the strengths of another platform. CDIXON | THE PROBLEM WITH TRANCHED VC INVESTMENTS 2009-08-15. In venture capital, tranching refers to investments where portions of the money are released over time when certain pre-negotiated milestones are hit. Usually it will all be part of one Series of investment, so a company might raise, say, $5M in the Series A but actually only receive, say, half up front and half whenthey’ve hit
CDIXON | HOW BUNDLING BENEFITS SELLERS AND BUYERS The cable company would get $18 in revenue. By bundling channels, the cable company can charge each customer $11.70 ($13 discounted 10%) for the bundle, yielding combined revenue of $23.40. The consumer surplus would be $2 in the non-bundle and $2.60 in the bundle. Thus both buyers and sellers benefit from bundling. CDIXON | THE NEXT BIG THING WILL START OUT LOOKING LIKE A TOY The reason big new things sneak by incumbents is that the next big thing always starts out being dismissed as a “toy.”. This is one of the main insights of Clay Christensen’s “disruptive technology” theory. This theory starts with the observation that technologies tend to get better at a faster rate than users’ needsincrease.
CDIXON | HOMEBLOGABOUTWHY DECENTRALIZATION MATTERSTHE IDEA MAZECLIMBING THE WRONG HILL The idea maze (2013) What the smartest people do on the weekend is what everyone else will do during the week in ten years (2013) The next big thing will start out looking like a toy (2010) If you aren’t getting rejected on a daily basis, your goals aren’t ambitious enough (2010) Climbing the wrong hill (2009)CDIXON | BLOG | 1
NFTs and A Thousand True Fans. 2021-02-27. In his classic 2008 essay “1000 True Fans,” Kevin Kelly predicted that the internet would transform the economics of creative activities: To. CDIXON | NFTS AND A THOUSAND TRUE FANS The thousand true fans thesis builds on the original ideals of the internet: users and creators globally connected, unconstrained by intermediaries, sharing ideas and economic upside. Incumbent social media platforms sidetracked this vision by locking creators into a bundle of distribution and monetization. There are, correspondingly,two ways
CDIXON | THE COMPUTING DEPLOYMENT PHASE In the deployment phase, the action shifted to the app layer: the highway system, shipping, suburbanization, big box retail, etc. This pattern is repeating itself in the computing/internet revolution. Most of the successful startups in the 90s built core infrastructure (e.g. optical switching) whereas most of the successful startups since then CDIXON | THE IDEA MAZE Good startup ideas are well developed, multi-year plans that contemplate many possible paths according to how the world changes. Balaji Srinivasan calls this the idea maze: A good founder is capable of anticipating which turns lead to treasure and which lead to certain death. A bad founder is just running to the entrance of (say) the“movies
CDIXON | WHY DECENTRALIZATION MATTERS Decentralization is a commonly misunderstood concept. For example, it is sometimes said that the reason cryptonetwork advocates favor decentralization is to resist government censorship, or because of libertarian political views. These are not the main reasons decentralization is important. CDIXON | EMBRACE THE MEDIUM An obvious but surprisingly under-practiced design principle is to “embrace the medium.” Applied to software, this means building applications that take advantage of the strengths of the platform instead of trying to mimic the strengths of another platform. CDIXON | THE PROBLEM WITH TRANCHED VC INVESTMENTS 2009-08-15. In venture capital, tranching refers to investments where portions of the money are released over time when certain pre-negotiated milestones are hit. Usually it will all be part of one Series of investment, so a company might raise, say, $5M in the Series A but actually only receive, say, half up front and half whenthey’ve hit
CDIXON | HOW BUNDLING BENEFITS SELLERS AND BUYERS The cable company would get $18 in revenue. By bundling channels, the cable company can charge each customer $11.70 ($13 discounted 10%) for the bundle, yielding combined revenue of $23.40. The consumer surplus would be $2 in the non-bundle and $2.60 in the bundle. Thus both buyers and sellers benefit from bundling. CDIXON | THE NEXT BIG THING WILL START OUT LOOKING LIKE A TOY The reason big new things sneak by incumbents is that the next big thing always starts out being dismissed as a “toy.”. This is one of the main insights of Clay Christensen’s “disruptive technology” theory. This theory starts with the observation that technologies tend to get better at a faster rate than users’ needsincrease.
CDIXON | DOING OLD THINGS BETTER VS DOING BRAND NEW THINGS 2020-10-19. New technologies enable activities that fall into one of two categories: 1) doing things you could already do but can now do better because they are faster, cheaper, easier, higher quality, etc. 2) doing brand new things that you simply couldn’t do before. Early in the development of new technologies, the first category tends to CDIXON | COME FOR THE TOOL, STAY FOR THE NETWORK The idea is to initially attract users with a single-player tool and then, over time, get them to participate in a network. The tool helps get to initial critical mass. The network creates the long term value for users, and defensibility for the company. Here are two historical examples: 1) Delicious. The single-player tool was a cloud service CDIXON | HOW ARISTOTLE CREATED THE COMPUTER The philosophers he influenced set the stage for the technological revolution that remade our world. Originally published by The Atlantic. The history of computers is often told as a history of objects, from the abacus to the Babbage engine up through the code-breaking machines of World War II. In fact, it is better understood as a history of CDIXON | THREE TYPES OF ACQUISITIONS Three types of acquisitions. There are three types of technology acquisitions: - Talent. When the acquirer just wants the team (generally just engineers and sometimes designers). As a rule of thumb, these acquisitions are priced at approximately $1M/engineer. - Tech: When the acquirer wants the technology along with the team. CDIXON | STRONG AND WEAK TECHNOLOGIES Strong and weak technologies. 2019-01-08. During a media tour in 2007 in which Steve Jobs showed the device to reporters, there was one instance in which a journalist criticized the iPhone’s touch-screen keyboard. “It doesn’t work,” the reporter said. Jobs stopped for a moment and tilted his head. The reporter said he or she kept making CDIXON | PRICING TO THE DEMAND CURVE The teacher takes the notecards and graphs the bids. Here’s how the graph might look: The y-axis is the students’ “willingness-to-pay” and the x-axis is the students sorted from highest to lowest bids. The line is known as the demand curve. Now imagine you’re the company selling these trips. CDIXON | WHAT THE SMARTEST PEOPLE DO ON THE WEEKEND IS Views expressed in “content” (including posts, podcasts, videos) linked on this website or posted in social media and other platforms (collectively, “content distribution outlets”) are my own and are not the views of AH Capital Management, L.L.C. (“a16z”) or its respective affiliates. CDIXON | THE NEXT BIG THING WILL START OUT LOOKING LIKE A TOY The reason big new things sneak by incumbents is that the next big thing always starts out being dismissed as a “toy.”. This is one of the main insights of Clay Christensen’s “disruptive technology” theory. This theory starts with the observation that technologies tend to get better at a faster rate than users’ needsincrease.
CDIXON | WHY I’M INTERESTED IN BITCOIN Why I’m interested in Bitcoin. 2013-12-31. Some people assume that all Bitcoin advocates are motivated by a libertarian political agenda. That is certainly not my agenda. I’m a lifelong Democrat who supported Obama in the last two elections. I think the Federal Reserve plays an important function, and I don’t agree with people who think CDIXON | WHAT’S STRATEGIC FOR GOOGLE? Views expressed in “content” (including posts, podcasts, videos) linked on this website or posted in social media and other platforms (collectively, “content distribution outlets”) are my own and are not the views of AH Capital Management, L.L.C. (“a16z”) or its respective affiliates. CDIXON | HOMEBLOGABOUTWHY DECENTRALIZATION MATTERSTHE IDEA MAZECLIMBING THE WRONG HILL I'm a partner at a16z, interested in programming, philosophy, history, internet, startups, and investing.. Sign up to receive new blog posts by email. Selected blog posts: NFTs and a Thousand True Fans (2021). Why decentralization matters (2018). How Aristotle created theCDIXON | BLOG | 1
Chris Dixon's blog. In his classic 2008 essay “1000 True Fans,” Kevin Kelly predicted that the internet would transform the economics of creative activities: To CDIXON | NFTS AND A THOUSAND TRUE FANS In his classic 2008 essay “1000 True Fans,” Kevin Kelly predicted that the internet would transform the economics of creative activities: To be a successful creator you don’t need millions. You don’t need millions of dollars or millions of customers, millions of clients or millions of fans. CDIXON | THE COMPUTING DEPLOYMENT PHASE Technological revolutions happen in two main phases: the installation phase and the deployment phase. Here’s a chart (from this excellent book by Carlota Perez via Fred Wilson) showing the four previous technological revolutions and the first part of the current one: Each revolution begins with a financial bubble that propels the (irrationally) rapid “installation” of the new technology. CDIXON | THREE TYPES OF ACQUISITIONS Views expressed in “content” (including posts, podcasts, videos) linked on this website or posted in social media and other platforms (collectively, “content distribution outlets”) are my own and are not the views of AH Capital Management, L.L.C. (“a16z”) or its respective affiliates. CDIXON | THE IDEA MAZE Views expressed in “content” (including posts, podcasts, videos) linked on this website or posted in social media and other platforms (collectively, “content distribution outlets”) are my own and are not the views of AH Capital Management, L.L.C. (“a16z”) or its respective affiliates. CDIXON | WHY DECENTRALIZATION MATTERS Views expressed in “content” (including posts, podcasts, videos) linked on this website or posted in social media and other platforms (collectively, “content distribution outlets”) are my own and are not the views of AH Capital Management, L.L.C. (“a16z”) or its respective affiliates. CDIXON | EMBRACE THE MEDIUM An obvious but surprisingly under-practiced design principle is to “embrace the medium.” Applied to software, this means building applications that take advantage of the strengths of the platform instead of trying to mimic the strengths of another platform. CDIXON | THE PROBLEM WITH TRANCHED VC INVESTMENTS Views expressed in “content” (including posts, podcasts, videos) linked on this website or posted in social media and other platforms (collectively, “content distribution outlets”) are my own and are not the views of AH Capital Management, L.L.C. (“a16z”) or its respective affiliates. CDIXON | THE NEXT BIG THING WILL START OUT LOOKING LIKE A TOY Views expressed in “content” (including posts, podcasts, videos) linked on this website or posted in social media and other platforms (collectively, “content distribution outlets”) are my own and are not the views of AH Capital Management, L.L.C. (“a16z”) or its respective affiliates. CDIXON | HOMEBLOGABOUTWHY DECENTRALIZATION MATTERSTHE IDEA MAZECLIMBING THE WRONG HILL I'm a partner at a16z, interested in programming, philosophy, history, internet, startups, and investing.. Sign up to receive new blog posts by email. Selected blog posts: NFTs and a Thousand True Fans (2021). Why decentralization matters (2018). How Aristotle created theCDIXON | BLOG | 1
Chris Dixon's blog. In his classic 2008 essay “1000 True Fans,” Kevin Kelly predicted that the internet would transform the economics of creative activities: To CDIXON | NFTS AND A THOUSAND TRUE FANS In his classic 2008 essay “1000 True Fans,” Kevin Kelly predicted that the internet would transform the economics of creative activities: To be a successful creator you don’t need millions. You don’t need millions of dollars or millions of customers, millions of clients or millions of fans. CDIXON | THE COMPUTING DEPLOYMENT PHASE Technological revolutions happen in two main phases: the installation phase and the deployment phase. Here’s a chart (from this excellent book by Carlota Perez via Fred Wilson) showing the four previous technological revolutions and the first part of the current one: Each revolution begins with a financial bubble that propels the (irrationally) rapid “installation” of the new technology. CDIXON | THREE TYPES OF ACQUISITIONS Views expressed in “content” (including posts, podcasts, videos) linked on this website or posted in social media and other platforms (collectively, “content distribution outlets”) are my own and are not the views of AH Capital Management, L.L.C. (“a16z”) or its respective affiliates. CDIXON | THE IDEA MAZE Views expressed in “content” (including posts, podcasts, videos) linked on this website or posted in social media and other platforms (collectively, “content distribution outlets”) are my own and are not the views of AH Capital Management, L.L.C. (“a16z”) or its respective affiliates. CDIXON | WHY DECENTRALIZATION MATTERS Views expressed in “content” (including posts, podcasts, videos) linked on this website or posted in social media and other platforms (collectively, “content distribution outlets”) are my own and are not the views of AH Capital Management, L.L.C. (“a16z”) or its respective affiliates. CDIXON | EMBRACE THE MEDIUM An obvious but surprisingly under-practiced design principle is to “embrace the medium.” Applied to software, this means building applications that take advantage of the strengths of the platform instead of trying to mimic the strengths of another platform. CDIXON | THE PROBLEM WITH TRANCHED VC INVESTMENTS Views expressed in “content” (including posts, podcasts, videos) linked on this website or posted in social media and other platforms (collectively, “content distribution outlets”) are my own and are not the views of AH Capital Management, L.L.C. (“a16z”) or its respective affiliates. CDIXON | THE NEXT BIG THING WILL START OUT LOOKING LIKE A TOY Views expressed in “content” (including posts, podcasts, videos) linked on this website or posted in social media and other platforms (collectively, “content distribution outlets”) are my own and are not the views of AH Capital Management, L.L.C. (“a16z”) or its respective affiliates.CDIXON | ABOUT
Chris Dixon's blog.
CDIXON | BLOG | 1
Chris Dixon's blog. In his classic 2008 essay “1000 True Fans,” Kevin Kelly predicted that the internet would transform the economics of creative activities: To CDIXON | HOW ARISTOTLE CREATED THE COMPUTER The philosophers he influenced set the stage for the technological revolution that remade our world. Originally published by The Atlantic.. The history of computers is often told as a history of objects, from the abacus to the Babbage engine up through the code-breaking machines of World War II. CDIXON | DOING OLD THINGS BETTER VS DOING BRAND NEW THINGS New technologies enable activities that fall into one of two categories: 1) doing things you could already do but can now do better because they are faster, cheaper, easier, higher quality, etc. 2) doing brand new things that you simply couldn’t do before. CDIXON | NFTS AND A THOUSAND TRUE FANS In his classic 2008 essay “1000 True Fans,” Kevin Kelly predicted that the internet would transform the economics of creative activities: To be a successful creator you don’t need millions. You don’t need millions of dollars or millions of customers, millions of clients or millions of fans. CDIXON | STRONG AND WEAK TECHNOLOGIES Strong technologies capture the imaginations of technology enthusiasts. That is why many important technologies start out as weekend hobbies. Enthusiasts vote with their time, and, unlike most of the business world, have long-term horizons.They build from first principles, making full use of the available resources to design technologies as they ought to exist. CDIXON | COME FOR THE TOOL, STAY FOR THE NETWORK A popular strategy for bootstrapping networks is what I like to call “come for the tool, stay for the network.” The idea is to initially attract users with a single-player tool and then, over time, get them to participate in a network. The tool helps get to initialcritical mass.
CDIXON | WHAT’S NEXT IN COMPUTING? Views expressed in “content” (including posts, podcasts, videos) linked on this website or posted in social media and other platforms (collectively, “content distribution outlets”) are my own and are not the views of AH Capital Management, L.L.C. (“a16z”) or its respective affiliates. CDIXON | CRYPTO TOKENS: A BREAKTHROUGH IN OPEN NETWORK DESIGN Views expressed in “content” (including posts, podcasts, videos) linked on this website or posted in social media and other platforms (collectively, “content distribution outlets”) are my own and are not the views of AH Capital Management, L.L.C. (“a16z”) or its respective affiliates. CDIXON | WHAT THE SMARTEST PEOPLE DO ON THE WEEKEND IS Views expressed in “content” (including posts, podcasts, videos) linked on this website or posted in social media and other platforms (collectively, “content distribution outlets”) are my own and are not the views of AH Capital Management, L.L.C. (“a16z”) or its respective affiliates. CDIXON | HOMEBLOGABOUTWHY DECENTRALIZATION MATTERSTHE IDEA MAZECLIMBING THE WRONG HILL The idea maze (2013) What the smartest people do on the weekend is what everyone else will do during the week in ten years (2013) The next big thing will start out looking like a toy (2010) If you aren’t getting rejected on a daily basis, your goals aren’t ambitious enough (2010) Climbing the wrong hill (2009)CDIXON | BLOG | 1
NFTs and A Thousand True Fans. 2021-02-27. In his classic 2008 essay “1000 True Fans,” Kevin Kelly predicted that the internet would transform the economics of creative activities: To. CDIXON | NFTS AND A THOUSAND TRUE FANS The thousand true fans thesis builds on the original ideals of the internet: users and creators globally connected, unconstrained by intermediaries, sharing ideas and economic upside. Incumbent social media platforms sidetracked this vision by locking creators into a bundle of distribution and monetization. There are, correspondingly,two ways
CDIXON | THE COMPUTING DEPLOYMENT PHASE In the deployment phase, the action shifted to the app layer: the highway system, shipping, suburbanization, big box retail, etc. This pattern is repeating itself in the computing/internet revolution. Most of the successful startups in the 90s built core infrastructure (e.g. optical switching) whereas most of the successful startups since then CDIXON | THE IDEA MAZE Good startup ideas are well developed, multi-year plans that contemplate many possible paths according to how the world changes. Balaji Srinivasan calls this the idea maze: A good founder is capable of anticipating which turns lead to treasure and which lead to certain death. A bad founder is just running to the entrance of (say) the“movies
CDIXON | THREE TYPES OF ACQUISITIONS Three types of acquisitions. There are three types of technology acquisitions: - Talent. When the acquirer just wants the team (generally just engineers and sometimes designers). As a rule of thumb, these acquisitions are priced at approximately $1M/engineer. - Tech: When the acquirer wants the technology along with the team. CDIXON | EMBRACE THE MEDIUM An obvious but surprisingly under-practiced design principle is to “embrace the medium.” Applied to software, this means building applications that take advantage of the strengths of the platform instead of trying to mimic the strengths of another platform. CDIXON | THE PROBLEM WITH TRANCHED VC INVESTMENTS 2009-08-15. In venture capital, tranching refers to investments where portions of the money are released over time when certain pre-negotiated milestones are hit. Usually it will all be part of one Series of investment, so a company might raise, say, $5M in the Series A but actually only receive, say, half up front and half whenthey’ve hit
CDIXON | HOW BUNDLING BENEFITS SELLERS AND BUYERS The cable company would get $18 in revenue. By bundling channels, the cable company can charge each customer $11.70 ($13 discounted 10%) for the bundle, yielding combined revenue of $23.40. The consumer surplus would be $2 in the non-bundle and $2.60 in the bundle. Thus both buyers and sellers benefit from bundling. CDIXON | WHAT THE SMARTEST PEOPLE DO ON THE WEEKEND IS Views expressed in “content” (including posts, podcasts, videos) linked on this website or posted in social media and other platforms (collectively, “content distribution outlets”) are my own and are not the views of AH Capital Management, L.L.C. (“a16z”) or its respective affiliates. CDIXON | HOMEBLOGABOUTWHY DECENTRALIZATION MATTERSTHE IDEA MAZECLIMBING THE WRONG HILL The idea maze (2013) What the smartest people do on the weekend is what everyone else will do during the week in ten years (2013) The next big thing will start out looking like a toy (2010) If you aren’t getting rejected on a daily basis, your goals aren’t ambitious enough (2010) Climbing the wrong hill (2009)CDIXON | BLOG | 1
NFTs and A Thousand True Fans. 2021-02-27. In his classic 2008 essay “1000 True Fans,” Kevin Kelly predicted that the internet would transform the economics of creative activities: To. CDIXON | NFTS AND A THOUSAND TRUE FANS The thousand true fans thesis builds on the original ideals of the internet: users and creators globally connected, unconstrained by intermediaries, sharing ideas and economic upside. Incumbent social media platforms sidetracked this vision by locking creators into a bundle of distribution and monetization. There are, correspondingly,two ways
CDIXON | THE COMPUTING DEPLOYMENT PHASE In the deployment phase, the action shifted to the app layer: the highway system, shipping, suburbanization, big box retail, etc. This pattern is repeating itself in the computing/internet revolution. Most of the successful startups in the 90s built core infrastructure (e.g. optical switching) whereas most of the successful startups since then CDIXON | THE IDEA MAZE Good startup ideas are well developed, multi-year plans that contemplate many possible paths according to how the world changes. Balaji Srinivasan calls this the idea maze: A good founder is capable of anticipating which turns lead to treasure and which lead to certain death. A bad founder is just running to the entrance of (say) the“movies
CDIXON | THREE TYPES OF ACQUISITIONS Three types of acquisitions. There are three types of technology acquisitions: - Talent. When the acquirer just wants the team (generally just engineers and sometimes designers). As a rule of thumb, these acquisitions are priced at approximately $1M/engineer. - Tech: When the acquirer wants the technology along with the team. CDIXON | EMBRACE THE MEDIUM An obvious but surprisingly under-practiced design principle is to “embrace the medium.” Applied to software, this means building applications that take advantage of the strengths of the platform instead of trying to mimic the strengths of another platform. CDIXON | THE PROBLEM WITH TRANCHED VC INVESTMENTS 2009-08-15. In venture capital, tranching refers to investments where portions of the money are released over time when certain pre-negotiated milestones are hit. Usually it will all be part of one Series of investment, so a company might raise, say, $5M in the Series A but actually only receive, say, half up front and half whenthey’ve hit
CDIXON | HOW BUNDLING BENEFITS SELLERS AND BUYERS The cable company would get $18 in revenue. By bundling channels, the cable company can charge each customer $11.70 ($13 discounted 10%) for the bundle, yielding combined revenue of $23.40. The consumer surplus would be $2 in the non-bundle and $2.60 in the bundle. Thus both buyers and sellers benefit from bundling. CDIXON | WHAT THE SMARTEST PEOPLE DO ON THE WEEKEND IS Views expressed in “content” (including posts, podcasts, videos) linked on this website or posted in social media and other platforms (collectively, “content distribution outlets”) are my own and are not the views of AH Capital Management, L.L.C. (“a16z”) or its respective affiliates.CDIXON | ABOUT
Previously: Personal investor in technology startups, including Kickstarter, Stripe, Flatiron Health, Warby Parker, Zipline, Pinterest, and Stack Overflow. Co-founder of Hunch (acquired by eBay). Co-founder of Founder Collective. Co-founder of SiteAdvisor (acquired by McAfee). Software developer working on high-speed trading systems. CDIXON | COME FOR THE TOOL, STAY FOR THE NETWORK The idea is to initially attract users with a single-player tool and then, over time, get them to participate in a network. The tool helps get to initial critical mass. The network creates the long term value for users, and defensibility for the company. Here are two historical examples: 1) Delicious. The single-player tool was a cloud service CDIXON | HOW ARISTOTLE CREATED THE COMPUTER The philosophers he influenced set the stage for the technological revolution that remade our world. Originally published by The Atlantic. The history of computers is often told as a history of objects, from the abacus to the Babbage engine up through the code-breaking machines of World War II. In fact, it is better understood as a history of CDIXON | THREE TYPES OF ACQUISITIONS Three types of acquisitions. There are three types of technology acquisitions: - Talent. When the acquirer just wants the team (generally just engineers and sometimes designers). As a rule of thumb, these acquisitions are priced at approximately $1M/engineer. - Tech: When the acquirer wants the technology along with the team. CDIXON | SOME THOUGHTS ON STARTUP CROWDFUNDING Like a lot of people, I’m excited about crowdfunding, and specifically the crowdfunding of startups now that’s it’s legal in the US. Based on my own experience investing in startups, here are some thoughts and issues that come to mind regarding startupcrowdfunding.
CDIXON | PRICING TO THE DEMAND CURVE The teacher takes the notecards and graphs the bids. Here’s how the graph might look: The y-axis is the students’ “willingness-to-pay” and the x-axis is the students sorted from highest to lowest bids. The line is known as the demand curve. Now imagine you’re the company selling these trips. CDIXON | THE CREDENTIALS TRAP Views expressed in “content” (including posts, podcasts, videos) linked on this website or posted in social media and other platforms (collectively, “content distribution outlets”) are my own and are not the views of AH Capital Management, L.L.C. (“a16z”) or its respective affiliates. CDIXON | WHY I’M INTERESTED IN BITCOIN Why I’m interested in Bitcoin. 2013-12-31. Some people assume that all Bitcoin advocates are motivated by a libertarian political agenda. That is certainly not my agenda. I’m a lifelong Democrat who supported Obama in the last two elections. I think the Federal Reserve plays an important function, and I don’t agree with people who think CDIXON | WHAT’S THE RIGHT AMOUNT OF SEED MONEY TO RAISE? As a rule of thumb, I would say a successful Series A is one where good VCs invest at a pre-money that is at least twice the post-money of the seed round. So if for your seed round you raised $1M at $2M pre ($3M post-money valuation), for the Series A you should be shooting for a minimum of $6M pre (but hopefully you’ll get significantlyhigher).
CDIXON.ORG
Redirecting to https://cdixon.org/2015/01/14/soylent/ CDIXON | HOMEBLOGABOUTWHY DECENTRALIZATION MATTERSTHE IDEA MAZECLIMBING THE WRONG HILL The idea maze (2013) What the smartest people do on the weekend is what everyone else will do during the week in ten years (2013) The next big thing will start out looking like a toy (2010) If you aren’t getting rejected on a daily basis, your goals aren’t ambitious enough (2010) Climbing the wrong hill (2009)CDIXON | BLOG | 1
NFTs and A Thousand True Fans. 2021-02-27. In his classic 2008 essay “1000 True Fans,” Kevin Kelly predicted that the internet would transform the economics of creative activities: To. CDIXON | NFTS AND A THOUSAND TRUE FANS The thousand true fans thesis builds on the original ideals of the internet: users and creators globally connected, unconstrained by intermediaries, sharing ideas and economic upside. Incumbent social media platforms sidetracked this vision by locking creators into a bundle of distribution and monetization. There are, correspondingly,two ways
CDIXON | THE COMPUTING DEPLOYMENT PHASE In the deployment phase, the action shifted to the app layer: the highway system, shipping, suburbanization, big box retail, etc. This pattern is repeating itself in the computing/internet revolution. Most of the successful startups in the 90s built core infrastructure (e.g. optical switching) whereas most of the successful startups since then CDIXON | THE IDEA MAZE Good startup ideas are well developed, multi-year plans that contemplate many possible paths according to how the world changes. Balaji Srinivasan calls this the idea maze: A good founder is capable of anticipating which turns lead to treasure and which lead to certain death. A bad founder is just running to the entrance of (say) the“movies
CDIXON | THREE TYPES OF ACQUISITIONS Three types of acquisitions. There are three types of technology acquisitions: - Talent. When the acquirer just wants the team (generally just engineers and sometimes designers). As a rule of thumb, these acquisitions are priced at approximately $1M/engineer. - Tech: When the acquirer wants the technology along with the team. CDIXON | EMBRACE THE MEDIUM An obvious but surprisingly under-practiced design principle is to “embrace the medium.” Applied to software, this means building applications that take advantage of the strengths of the platform instead of trying to mimic the strengths of another platform. CDIXON | THE PROBLEM WITH TRANCHED VC INVESTMENTS 2009-08-15. In venture capital, tranching refers to investments where portions of the money are released over time when certain pre-negotiated milestones are hit. Usually it will all be part of one Series of investment, so a company might raise, say, $5M in the Series A but actually only receive, say, half up front and half whenthey’ve hit
CDIXON | HOW BUNDLING BENEFITS SELLERS AND BUYERS The cable company would get $18 in revenue. By bundling channels, the cable company can charge each customer $11.70 ($13 discounted 10%) for the bundle, yielding combined revenue of $23.40. The consumer surplus would be $2 in the non-bundle and $2.60 in the bundle. Thus both buyers and sellers benefit from bundling. CDIXON | WHAT THE SMARTEST PEOPLE DO ON THE WEEKEND IS Views expressed in “content” (including posts, podcasts, videos) linked on this website or posted in social media and other platforms (collectively, “content distribution outlets”) are my own and are not the views of AH Capital Management, L.L.C. (“a16z”) or its respective affiliates. CDIXON | HOMEBLOGABOUTWHY DECENTRALIZATION MATTERSTHE IDEA MAZECLIMBING THE WRONG HILL The idea maze (2013) What the smartest people do on the weekend is what everyone else will do during the week in ten years (2013) The next big thing will start out looking like a toy (2010) If you aren’t getting rejected on a daily basis, your goals aren’t ambitious enough (2010) Climbing the wrong hill (2009)CDIXON | BLOG | 1
NFTs and A Thousand True Fans. 2021-02-27. In his classic 2008 essay “1000 True Fans,” Kevin Kelly predicted that the internet would transform the economics of creative activities: To. CDIXON | NFTS AND A THOUSAND TRUE FANS The thousand true fans thesis builds on the original ideals of the internet: users and creators globally connected, unconstrained by intermediaries, sharing ideas and economic upside. Incumbent social media platforms sidetracked this vision by locking creators into a bundle of distribution and monetization. There are, correspondingly,two ways
CDIXON | THE COMPUTING DEPLOYMENT PHASE In the deployment phase, the action shifted to the app layer: the highway system, shipping, suburbanization, big box retail, etc. This pattern is repeating itself in the computing/internet revolution. Most of the successful startups in the 90s built core infrastructure (e.g. optical switching) whereas most of the successful startups since then CDIXON | THE IDEA MAZE Good startup ideas are well developed, multi-year plans that contemplate many possible paths according to how the world changes. Balaji Srinivasan calls this the idea maze: A good founder is capable of anticipating which turns lead to treasure and which lead to certain death. A bad founder is just running to the entrance of (say) the“movies
CDIXON | THREE TYPES OF ACQUISITIONS Three types of acquisitions. There are three types of technology acquisitions: - Talent. When the acquirer just wants the team (generally just engineers and sometimes designers). As a rule of thumb, these acquisitions are priced at approximately $1M/engineer. - Tech: When the acquirer wants the technology along with the team. CDIXON | EMBRACE THE MEDIUM An obvious but surprisingly under-practiced design principle is to “embrace the medium.” Applied to software, this means building applications that take advantage of the strengths of the platform instead of trying to mimic the strengths of another platform. CDIXON | THE PROBLEM WITH TRANCHED VC INVESTMENTS 2009-08-15. In venture capital, tranching refers to investments where portions of the money are released over time when certain pre-negotiated milestones are hit. Usually it will all be part of one Series of investment, so a company might raise, say, $5M in the Series A but actually only receive, say, half up front and half whenthey’ve hit
CDIXON | HOW BUNDLING BENEFITS SELLERS AND BUYERS The cable company would get $18 in revenue. By bundling channels, the cable company can charge each customer $11.70 ($13 discounted 10%) for the bundle, yielding combined revenue of $23.40. The consumer surplus would be $2 in the non-bundle and $2.60 in the bundle. Thus both buyers and sellers benefit from bundling. CDIXON | WHAT THE SMARTEST PEOPLE DO ON THE WEEKEND IS Views expressed in “content” (including posts, podcasts, videos) linked on this website or posted in social media and other platforms (collectively, “content distribution outlets”) are my own and are not the views of AH Capital Management, L.L.C. (“a16z”) or its respective affiliates.CDIXON | ABOUT
Previously: Personal investor in technology startups, including Kickstarter, Stripe, Flatiron Health, Warby Parker, Zipline, Pinterest, and Stack Overflow. Co-founder of Hunch (acquired by eBay). Co-founder of Founder Collective. Co-founder of SiteAdvisor (acquired by McAfee). Software developer working on high-speed trading systems. CDIXON | COME FOR THE TOOL, STAY FOR THE NETWORK The idea is to initially attract users with a single-player tool and then, over time, get them to participate in a network. The tool helps get to initial critical mass. The network creates the long term value for users, and defensibility for the company. Here are two historical examples: 1) Delicious. The single-player tool was a cloud service CDIXON | HOW ARISTOTLE CREATED THE COMPUTER The philosophers he influenced set the stage for the technological revolution that remade our world. Originally published by The Atlantic. The history of computers is often told as a history of objects, from the abacus to the Babbage engine up through the code-breaking machines of World War II. In fact, it is better understood as a history of CDIXON | THREE TYPES OF ACQUISITIONS Three types of acquisitions. There are three types of technology acquisitions: - Talent. When the acquirer just wants the team (generally just engineers and sometimes designers). As a rule of thumb, these acquisitions are priced at approximately $1M/engineer. - Tech: When the acquirer wants the technology along with the team. CDIXON | SOME THOUGHTS ON STARTUP CROWDFUNDING Like a lot of people, I’m excited about crowdfunding, and specifically the crowdfunding of startups now that’s it’s legal in the US. Based on my own experience investing in startups, here are some thoughts and issues that come to mind regarding startupcrowdfunding.
CDIXON | PRICING TO THE DEMAND CURVE The teacher takes the notecards and graphs the bids. Here’s how the graph might look: The y-axis is the students’ “willingness-to-pay” and the x-axis is the students sorted from highest to lowest bids. The line is known as the demand curve. Now imagine you’re the company selling these trips. CDIXON | THE CREDENTIALS TRAP Views expressed in “content” (including posts, podcasts, videos) linked on this website or posted in social media and other platforms (collectively, “content distribution outlets”) are my own and are not the views of AH Capital Management, L.L.C. (“a16z”) or its respective affiliates. CDIXON | WHY I’M INTERESTED IN BITCOIN Why I’m interested in Bitcoin. 2013-12-31. Some people assume that all Bitcoin advocates are motivated by a libertarian political agenda. That is certainly not my agenda. I’m a lifelong Democrat who supported Obama in the last two elections. I think the Federal Reserve plays an important function, and I don’t agree with people who think CDIXON | WHAT’S THE RIGHT AMOUNT OF SEED MONEY TO RAISE? As a rule of thumb, I would say a successful Series A is one where good VCs invest at a pre-money that is at least twice the post-money of the seed round. So if for your seed round you raised $1M at $2M pre ($3M post-money valuation), for the Series A you should be shooting for a minimum of $6M pre (but hopefully you’ll get significantlyhigher).
CDIXON.ORG
Redirecting to https://cdixon.org/2015/01/14/soylent/ CDIXON | HOMEBLOGABOUTWHY DECENTRALIZATION MATTERSTHE IDEA MAZECLIMBING THE WRONG HILL The idea maze (2013) What the smartest people do on the weekend is what everyone else will do during the week in ten years (2013) The next big thing will start out looking like a toy (2010) If you aren’t getting rejected on a daily basis, your goals aren’t ambitious enough (2010) Climbing the wrong hill (2009)CDIXON | BLOG | 1
NFTs and A Thousand True Fans. 2021-02-27. In his classic 2008 essay “1000 True Fans,” Kevin Kelly predicted that the internet would transform the economics of creative activities: To. CDIXON | NFTS AND A THOUSAND TRUE FANS The thousand true fans thesis builds on the original ideals of the internet: users and creators globally connected, unconstrained by intermediaries, sharing ideas and economic upside. Incumbent social media platforms sidetracked this vision by locking creators into a bundle of distribution and monetization. There are, correspondingly,two ways
CDIXON | THE COMPUTING DEPLOYMENT PHASE In the deployment phase, the action shifted to the app layer: the highway system, shipping, suburbanization, big box retail, etc. This pattern is repeating itself in the computing/internet revolution. Most of the successful startups in the 90s built core infrastructure (e.g. optical switching) whereas most of the successful startups since then CDIXON | THE IDEA MAZE Good startup ideas are well developed, multi-year plans that contemplate many possible paths according to how the world changes. Balaji Srinivasan calls this the idea maze: A good founder is capable of anticipating which turns lead to treasure and which lead to certain death. A bad founder is just running to the entrance of (say) the“movies
CDIXON | THREE TYPES OF ACQUISITIONS Three types of acquisitions. There are three types of technology acquisitions: - Talent. When the acquirer just wants the team (generally just engineers and sometimes designers). As a rule of thumb, these acquisitions are priced at approximately $1M/engineer. - Tech: When the acquirer wants the technology along with the team. CDIXON | HOW ARISTOTLE CREATED THE COMPUTER The philosophers he influenced set the stage for the technological revolution that remade our world. Originally published by The Atlantic. The history of computers is often told as a history of objects, from the abacus to the Babbage engine up through the code-breaking machines of World War II. In fact, it is better understood as a history of CDIXON | EMBRACE THE MEDIUM An obvious but surprisingly under-practiced design principle is to “embrace the medium.” Applied to software, this means building applications that take advantage of the strengths of the platform instead of trying to mimic the strengths of another platform. CDIXON | THE PROBLEM WITH TRANCHED VC INVESTMENTS 2009-08-15. In venture capital, tranching refers to investments where portions of the money are released over time when certain pre-negotiated milestones are hit. Usually it will all be part of one Series of investment, so a company might raise, say, $5M in the Series A but actually only receive, say, half up front and half whenthey’ve hit
CDIXON | THE NEXT BIG THING WILL START OUT LOOKING LIKE A TOY The reason big new things sneak by incumbents is that the next big thing always starts out being dismissed as a “toy.”. This is one of the main insights of Clay Christensen’s “disruptive technology” theory. This theory starts with the observation that technologies tend to get better at a faster rate than users’ needsincrease.
CDIXON | HOMEBLOGABOUTWHY DECENTRALIZATION MATTERSTHE IDEA MAZECLIMBING THE WRONG HILL The idea maze (2013) What the smartest people do on the weekend is what everyone else will do during the week in ten years (2013) The next big thing will start out looking like a toy (2010) If you aren’t getting rejected on a daily basis, your goals aren’t ambitious enough (2010) Climbing the wrong hill (2009)CDIXON | BLOG | 1
NFTs and A Thousand True Fans. 2021-02-27. In his classic 2008 essay “1000 True Fans,” Kevin Kelly predicted that the internet would transform the economics of creative activities: To. CDIXON | NFTS AND A THOUSAND TRUE FANS The thousand true fans thesis builds on the original ideals of the internet: users and creators globally connected, unconstrained by intermediaries, sharing ideas and economic upside. Incumbent social media platforms sidetracked this vision by locking creators into a bundle of distribution and monetization. There are, correspondingly,two ways
CDIXON | THE COMPUTING DEPLOYMENT PHASE In the deployment phase, the action shifted to the app layer: the highway system, shipping, suburbanization, big box retail, etc. This pattern is repeating itself in the computing/internet revolution. Most of the successful startups in the 90s built core infrastructure (e.g. optical switching) whereas most of the successful startups since then CDIXON | THE IDEA MAZE Good startup ideas are well developed, multi-year plans that contemplate many possible paths according to how the world changes. Balaji Srinivasan calls this the idea maze: A good founder is capable of anticipating which turns lead to treasure and which lead to certain death. A bad founder is just running to the entrance of (say) the“movies
CDIXON | THREE TYPES OF ACQUISITIONS Three types of acquisitions. There are three types of technology acquisitions: - Talent. When the acquirer just wants the team (generally just engineers and sometimes designers). As a rule of thumb, these acquisitions are priced at approximately $1M/engineer. - Tech: When the acquirer wants the technology along with the team. CDIXON | HOW ARISTOTLE CREATED THE COMPUTER The philosophers he influenced set the stage for the technological revolution that remade our world. Originally published by The Atlantic. The history of computers is often told as a history of objects, from the abacus to the Babbage engine up through the code-breaking machines of World War II. In fact, it is better understood as a history of CDIXON | EMBRACE THE MEDIUM An obvious but surprisingly under-practiced design principle is to “embrace the medium.” Applied to software, this means building applications that take advantage of the strengths of the platform instead of trying to mimic the strengths of another platform. CDIXON | THE PROBLEM WITH TRANCHED VC INVESTMENTS 2009-08-15. In venture capital, tranching refers to investments where portions of the money are released over time when certain pre-negotiated milestones are hit. Usually it will all be part of one Series of investment, so a company might raise, say, $5M in the Series A but actually only receive, say, half up front and half whenthey’ve hit
CDIXON | THE NEXT BIG THING WILL START OUT LOOKING LIKE A TOY The reason big new things sneak by incumbents is that the next big thing always starts out being dismissed as a “toy.”. This is one of the main insights of Clay Christensen’s “disruptive technology” theory. This theory starts with the observation that technologies tend to get better at a faster rate than users’ needsincrease.
CDIXON | ABOUT
Previously: Personal investor in technology startups, including Kickstarter, Stripe, Flatiron Health, Warby Parker, Zipline, Pinterest, and Stack Overflow. Co-founder of Hunch (acquired by eBay). Co-founder of Founder Collective. Co-founder of SiteAdvisor (acquired by McAfee). Software developer working on high-speed trading systems. CDIXON | NFTS AND A THOUSAND TRUE FANS The thousand true fans thesis builds on the original ideals of the internet: users and creators globally connected, unconstrained by intermediaries, sharing ideas and economic upside. Incumbent social media platforms sidetracked this vision by locking creators into a bundle of distribution and monetization. There are, correspondingly,two ways
CDIXON | HOW ARISTOTLE CREATED THE COMPUTER The philosophers he influenced set the stage for the technological revolution that remade our world. Originally published by The Atlantic. The history of computers is often told as a history of objects, from the abacus to the Babbage engine up through the code-breaking machines of World War II. In fact, it is better understood as a history of CDIXON | COME FOR THE TOOL, STAY FOR THE NETWORK The idea is to initially attract users with a single-player tool and then, over time, get them to participate in a network. The tool helps get to initial critical mass. The network creates the long term value for users, and defensibility for the company. Here are two historical examples: 1) Delicious. The single-player tool was a cloud service CDIXON | WHAT’S NEXT IN COMPUTING? Raspberry Pi Zero: 1 GHz Linux computer for $5. This new architecture has dropped the price of basic computing systems from about $100 to about $10. The Raspberry Pi Zero is a 1 GHz Linux computer that you can buy for $5. For a similar price you can buy a wifi-enabled microcontroller that runs a version of Python. CDIXON | CRYPTO TOKENS: A BREAKTHROUGH IN OPEN NETWORK DESIGN Tokens are a breakthrough in open network design that enable: 1) the creation of open, decentralized networks that combine the best architectural properties of open and proprietary networks, and 2) new ways to incentivize open network participants, including users, developers, investors, and service providers. By enabling thedevelopment of new
CDIXON | TWO ERAS OF THE INTERNET: PULL AND PUSH One simplifying pattern comes from the two types of actions internet users take: pull and push. Pull is when you are seeking information, usually an answer to a question. You want to know the closing time of a restaurant, the description of a hotel where you are thinking about staying, the details of an historical event you heard about, etc CDIXON | FOUNDER VESTING 2009-04-21. The most important term in a startup term sheet that no one seems to think carefully about is founder vesting. There are two key points about vesting: All startup employees – including founders! – should vest over 4 years from their start date (with a one year “cliff”). When I used to work in VC I can’t tell youhow many
CDIXON | WHAT THE SMARTEST PEOPLE DO ON THE WEEKEND IS Views expressed in “content” (including posts, podcasts, videos) linked on this website or posted in social media and other platforms (collectively, “content distribution outlets”) are my own and are not the views of AH Capital Management, L.L.C. (“a16z”) or its respective affiliates.CDIXON.ORG
Redirecting to https://cdixon.org/2015/01/14/soylent/ CDIXON | HOMEBLOGABOUTWHY DECENTRALIZATION MATTERSTHE IDEA MAZECLIMBING THE WRONG HILL The idea maze (2013) What the smartest people do on the weekend is what everyone else will do during the week in ten years (2013) The next big thing will start out looking like a toy (2010) If you aren’t getting rejected on a daily basis, your goals aren’t ambitious enough (2010) Climbing the wrong hill (2009)CDIXON | BLOG | 1
NFTs and A Thousand True Fans. 2021-02-27. In his classic 2008 essay “1000 True Fans,” Kevin Kelly predicted that the internet would transform the economics of creative activities: To. CDIXON | THE COMPUTING DEPLOYMENT PHASE In the deployment phase, the action shifted to the app layer: the highway system, shipping, suburbanization, big box retail, etc. This pattern is repeating itself in the computing/internet revolution. Most of the successful startups in the 90s built core infrastructure (e.g. optical switching) whereas most of the successful startups since then CDIXON | THE IDEA MAZE Good startup ideas are well developed, multi-year plans that contemplate many possible paths according to how the world changes. Balaji Srinivasan calls this the idea maze: A good founder is capable of anticipating which turns lead to treasure and which lead to certain death. A bad founder is just running to the entrance of (say) the“movies
CDIXON | HOW ARISTOTLE CREATED THE COMPUTERDATE COMPUTER CREATED The philosophers he influenced set the stage for the technological revolution that remade our world. Originally published by The Atlantic. The history of computers is often told as a history of objects, from the abacus to the Babbage engine up through the code-breaking machines of World War II. In fact, it is better understood as a history of CDIXON | STRONG AND WEAK TECHNOLOGIES Strong and weak technologies. 2019-01-08. During a media tour in 2007 in which Steve Jobs showed the device to reporters, there was one instance in which a journalist criticized the iPhone’s touch-screen keyboard. “It doesn’t work,” the reporter said. Jobs stopped for a moment and tilted his head. The reporter said he or she kept making CDIXON | THREE TYPES OF ACQUISITIONSTHREE BASIC TYPES OF ACQUISITIONSTYPES OF COMPANY ACQUISITIONSTYPES OF GOVERNMENT ACQUISITIONSTYPES OF ACQUISITION METHODS Three types of acquisitions. There are three types of technology acquisitions: - Talent. When the acquirer just wants the team (generally just engineers and sometimes designers). As a rule of thumb, these acquisitions are priced at approximately $1M/engineer. - Tech: When the acquirer wants the technology along with the team. CDIXON | EMBRACE THE MEDIUM An obvious but surprisingly under-practiced design principle is to “embrace the medium.” Applied to software, this means building applications that take advantage of the strengths of the platform instead of trying to mimic the strengths of another platform. CDIXON | HOW BUNDLING BENEFITS SELLERS AND BUYERSBENEFITS OF PRODUCT BUNDLINGPRODUCT BUNDLING MARKETINGPRODUCT BUNDLING MEANING The cable company would get $18 in revenue. By bundling channels, the cable company can charge each customer $11.70 ($13 discounted 10%) for the bundle, yielding combined revenue of $23.40. The consumer surplus would be $2 in the non-bundle and $2.60 in the bundle. Thus both buyers and sellers benefit from bundling. CDIXON | THE PROBLEM WITH TRANCHED VC INVESTMENTS 2009-08-15. In venture capital, tranching refers to investments where portions of the money are released over time when certain pre-negotiated milestones are hit. Usually it will all be part of one Series of investment, so a company might raise, say, $5M in the Series A but actually only receive, say, half up front and half whenthey’ve hit
CDIXON | HOMEBLOGABOUTWHY DECENTRALIZATION MATTERSTHE IDEA MAZECLIMBING THE WRONG HILL The idea maze (2013) What the smartest people do on the weekend is what everyone else will do during the week in ten years (2013) The next big thing will start out looking like a toy (2010) If you aren’t getting rejected on a daily basis, your goals aren’t ambitious enough (2010) Climbing the wrong hill (2009)CDIXON | BLOG | 1
NFTs and A Thousand True Fans. 2021-02-27. In his classic 2008 essay “1000 True Fans,” Kevin Kelly predicted that the internet would transform the economics of creative activities: To. CDIXON | THE COMPUTING DEPLOYMENT PHASE In the deployment phase, the action shifted to the app layer: the highway system, shipping, suburbanization, big box retail, etc. This pattern is repeating itself in the computing/internet revolution. Most of the successful startups in the 90s built core infrastructure (e.g. optical switching) whereas most of the successful startups since then CDIXON | THE IDEA MAZE Good startup ideas are well developed, multi-year plans that contemplate many possible paths according to how the world changes. Balaji Srinivasan calls this the idea maze: A good founder is capable of anticipating which turns lead to treasure and which lead to certain death. A bad founder is just running to the entrance of (say) the“movies
CDIXON | HOW ARISTOTLE CREATED THE COMPUTERDATE COMPUTER CREATED The philosophers he influenced set the stage for the technological revolution that remade our world. Originally published by The Atlantic. The history of computers is often told as a history of objects, from the abacus to the Babbage engine up through the code-breaking machines of World War II. In fact, it is better understood as a history of CDIXON | STRONG AND WEAK TECHNOLOGIES Strong and weak technologies. 2019-01-08. During a media tour in 2007 in which Steve Jobs showed the device to reporters, there was one instance in which a journalist criticized the iPhone’s touch-screen keyboard. “It doesn’t work,” the reporter said. Jobs stopped for a moment and tilted his head. The reporter said he or she kept making CDIXON | THREE TYPES OF ACQUISITIONSTHREE BASIC TYPES OF ACQUISITIONSTYPES OF COMPANY ACQUISITIONSTYPES OF GOVERNMENT ACQUISITIONSTYPES OF ACQUISITION METHODS Three types of acquisitions. There are three types of technology acquisitions: - Talent. When the acquirer just wants the team (generally just engineers and sometimes designers). As a rule of thumb, these acquisitions are priced at approximately $1M/engineer. - Tech: When the acquirer wants the technology along with the team. CDIXON | EMBRACE THE MEDIUM An obvious but surprisingly under-practiced design principle is to “embrace the medium.” Applied to software, this means building applications that take advantage of the strengths of the platform instead of trying to mimic the strengths of another platform. CDIXON | HOW BUNDLING BENEFITS SELLERS AND BUYERSBENEFITS OF PRODUCT BUNDLINGPRODUCT BUNDLING MARKETINGPRODUCT BUNDLING MEANING The cable company would get $18 in revenue. By bundling channels, the cable company can charge each customer $11.70 ($13 discounted 10%) for the bundle, yielding combined revenue of $23.40. The consumer surplus would be $2 in the non-bundle and $2.60 in the bundle. Thus both buyers and sellers benefit from bundling. CDIXON | THE PROBLEM WITH TRANCHED VC INVESTMENTS 2009-08-15. In venture capital, tranching refers to investments where portions of the money are released over time when certain pre-negotiated milestones are hit. Usually it will all be part of one Series of investment, so a company might raise, say, $5M in the Series A but actually only receive, say, half up front and half whenthey’ve hit
CDIXON | ABOUT
Previously: Personal investor in technology startups, including Kickstarter, Stripe, Flatiron Health, Warby Parker, Zipline, Pinterest, and Stack Overflow. Co-founder of Hunch (acquired by eBay). Co-founder of Founder Collective. Co-founder of SiteAdvisor (acquired by McAfee). Software developer working on high-speed trading systems. CDIXON | NFTS AND A THOUSAND TRUE FANS The thousand true fans thesis builds on the original ideals of the internet: users and creators globally connected, unconstrained by intermediaries, sharing ideas and economic upside. Incumbent social media platforms sidetracked this vision by locking creators into a bundle of distribution and monetization. There are, correspondingly,two ways
CDIXON | COMPUTERS THAT CAN MAKE COMMITMENTS 2020-01-26. Blockchains are computers that can make commitments. Traditional computers are ultimately controlled by people, either directly in the case of personal computers or indirectly through organizations. Blockchains invert this power relationship, putting the code in charge. A game theoretic mechanism — a so-called consensusmechanism
CDIXON | TAGS | ECONOMICS Chris Dixon's blog. 18 posts tagged with "economics" Stored Hashcash; The computing deployment phase CDIXON | HOW ARISTOTLE CREATED THE COMPUTER The philosophers he influenced set the stage for the technological revolution that remade our world. Originally published by The Atlantic. The history of computers is often told as a history of objects, from the abacus to the Babbage engine up through the code-breaking machines of World War II. In fact, it is better understood as a history of CDIXON | COME FOR THE TOOL, STAY FOR THE NETWORK The idea is to initially attract users with a single-player tool and then, over time, get them to participate in a network. The tool helps get to initial critical mass. The network creates the long term value for users, and defensibility for the company. Here are two historical examples: 1) Delicious. The single-player tool was a cloud service CDIXON | WHAT’S NEXT IN COMPUTING? Raspberry Pi Zero: 1 GHz Linux computer for $5. This new architecture has dropped the price of basic computing systems from about $100 to about $10. The Raspberry Pi Zero is a 1 GHz Linux computer that you can buy for $5. For a similar price you can buy a wifi-enabled microcontroller that runs a version of Python. CDIXON | TWO ERAS OF THE INTERNET: PULL AND PUSH One simplifying pattern comes from the two types of actions internet users take: pull and push. Pull is when you are seeking information, usually an answer to a question. You want to know the closing time of a restaurant, the description of a hotel where you are thinking about staying, the details of an historical event you heard about, etc CDIXON | CRYPTO TOKENS: A BREAKTHROUGH IN OPEN NETWORK DESIGN Tokens are a breakthrough in open network design that enable: 1) the creation of open, decentralized networks that combine the best architectural properties of open and proprietary networks, and 2) new ways to incentivize open network participants, including users, developers, investors, and service providers. By enabling thedevelopment of new
CDIXON | WHAT THE SMARTEST PEOPLE DO ON THE WEEKEND IS Views expressed in “content” (including posts, podcasts, videos) linked on this website or posted in social media and other platforms (collectively, “content distribution outlets”) are my own and are not the views of AH Capital Management, L.L.C. (“a16z”) or its respective affiliates. This app works best with JavaScript enabled.cdixon
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I'M A PARTNER AT A16Z , INTERESTED IN PROGRAMMING, PHILOSOPHY, HISTORY, INTERNET, STARTUPS, AND INVESTING. Sign up to receive new blog posts by email. _Selected blog posts:_ Why decentralization matters(2018)
How Aristotle created the computer(2017)
What's next in computing?(2016)
Come for the tool, stay for the network(2015)
Full stack startups (2014) The idea maze (2013) What the smartest people do on the weekend is what everyone else will do during the week in ten years(2013)
The next big thing will start out looking like a toy(2010)
If you aren’t getting rejected on a daily basis, your goals aren’tambitious enough
(2010)
Climbing the wrong hill (2009)Details
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