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The Blockchain’s Magical Million Users Club
Source: http://startupmanagement.org/2018/11/20/the-blockchains-magical-million-users-club/ Numerous blockchain naysayers keep harping on a lack of users. But the fact is there are signs of real traction with a few dozen projects, protocols and applications that are breaking through the magical 1 million milestone across a number of usage related metrics. I have compiled a list of million+ users in various areas of blockchain activity. Reaching 1 million is not always a true measure of success, but it is an indication that the growth trajectory may be on the right path. For each of these listed below, 1 Million is a significant achievement, but as a whole the blockchain space hasn’t reached a significant critical mass in the scale of 50 Million+ active users from a single type of application or use case. Here’s the list below, and the accompanying Google Sheets where updates and corrections can be added by anyone. I’m sure that I missed a few, but this Sheet will be continuously updated. Infrastructure Ethereum Bitcoin Number of mining computers Development Tools Infura Metamask Truffle Apps and Services Blockchain.info wallets MyEtherWallet MyCrypto Exchanges with over 1 Million Accounts * ICO participants Ledger wallets Brave browser CryptoKitties Jaxx ShapeShift Kin Changelly Blockfolio Steem There are additional projects that I suspect have million-mark metrics, but I wasn’t able to find it: Dogecoin, Monero, Dash, SafeWallet, LoomX, ZCash, Coinomi, Litecoin, IPFS. If you have something to add or correct, please enter a comment on the Google Sheet or in the Disqus comments below.
On November 26th, a mole will land on Mars
The Kickstarter 2017 Public Benefit Statement
Our portfolio company Kickstarter is a Public Benefit Corporation. One of the requirements of a Public Benefit Corporation is that they publish an annual benefit statement outlining how they are doing living up to their PBC charter. This is Kickstarter’s PBC Charter. And this is their 2017 Public Benefit Statement, which was published yesterday. Here is a page from the 2017 statement, which shows how much funding they provided to creative projects across the categories they support. That is a lot of economic activity, almost 20,000 creative projects were brought to life by Kickstarter PBC and its creator and backer communities. Innovation takes many forms. Innovation in governance and business model is particularly important right now. And Kickstarter PBC is exploring a new way of running a for profit business and showing the way for others who might want to do the same. https://avc.com/2018/11/the-kickstarter-2017-public-benefit-statement/
The Overpay Critique
It is so easy to look at a headline announcing a deal and say “they overpaid.” I have done that myself plenty of times. It’s a natural emotional reaction. But what I have learned is that you can’t really critique an investment until you know how it plays out. Some things that look so expensive turn out to have been bargains in hindsight. And, of course, some overpays are just that. Prices that nobody can make money on. The current debate raging in NYC about the Amazon deal that the Governor and Mayor made reminds me of that. Everyone is saying “they paid billions of taxpayer dollars to the richest company in the world” as an argument that they overpaid for the deal. But this line in the Mayor’s OpEd yesterday in the Daily News got my attention: New York City alone will net $13.5 billion in tax revenue from the new headquarters, and the state another $14 billion. That’s a nine-fold return on our investment If these numbers are correct, the billions NYC and NYS spent to incentivize Amazon to come to NYC, will have been a great investment. We would take 9x on our money any day at USV. It is easy and natural to critique an investment on the headline number. But the headline number is only half the story. You really need to see how it pans out to know if it was an overpay. https://avc.com/2018/11/the-overpay-critique/