We decided that we would have a thesis, stick to it, and evolve it
- the world is going to come onchain (onchain economy: We believe in the creation of universally accessible, inclusive, free and meritocracy digital society)
- why? the world is broken, people want to immigrate, but not everyone can due to immigration restrictions. - a radically better economy that’s universally accessible to anyone
- Why do people immigrate: To give themselves a chance of a “better life”
- Economic opportunities: One of the primary drivers of immigration is the pursuit of better employment opportunities and higher wages. People often migrate to countries with stronger economies, more job prospects, and the potential for upward economic mobility.
- Better living conditions: Some individuals immigrate to escape poverty, political instability, violence, or lack of basic resources in their home countries. They seek a higher standard of living, better access to healthcare, education, and other public services in the destination country.
- “We're helping anyone, anywhere, live a radically better life by coming onchain"
- We STRIVE to create equal access to economic opportunities
“thesis” but is probably better described as a macro level view about the world – the onchain world – that we then (attempt) to focus priorities and structure capital allocation decisions around. We maintain specific principles about the onchian economy that guide our investment activities
Inspired by USV thesis:
- Large networks of engaged users, differentiated through user experience, and defensible through network effects.
- The edge of large markets being transformed by technological and societal pressures”
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💡 Onchain Network Thesis: mission-aligned network of quality builders, coordinated by meritocratic incentives, creating differentiated onchain experiences for the same large network of engaged users, defensible through network effects
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Our thesis revolves around the idea of building a mission-aligned network of high-quality builders (creators, entrepreneurs, developers) who are incentivized through a meritocratic system to create a differentiated onchain experience for a large network of engaged users. This experience would aim to be defensible through network effects, similar to the thesis of Union Square Ventures (USV) which focuses on large networks of engaged users, differentiated through user experience, and defensible through network effects.
- Mission-aligned network: The emphasis is on assembling a network of builders who are aligned with a common mission or set of goals, likely related to building and shaping the onchain economy.
- Quality builders: The network is intended to consist of creators, entrepreneurs, and developers who are of high quality, implying a selective or meritocratic process for inclusion.
- Meritocratic incentives: The incentive structure for this network is based on meritocracy, where contributions and achievements are rewarded and recognized.
- Differentiated on-chain experience: The aim is to create a unique and differentiated experience for users within the onchain (blockchain/crypto) ecosystem, potentially through the efforts and innovations of the network of builders.
- Large network of engaged users: Similar to USV's thesis, the goal is to build a large and engaged user base, leveraging network effects to create defensibility and sustainability.
- Network effects: The differentiated onchain experiences, coupled with the large user base, is expected to generate network effects that make the proposition defensible and difficult to replicate.
Overall, the thesis proposes a strategic approach to shaping the onchain world by curating and incentivizing a network of exceptional builders to create innovative and engaging experiences that can attract and retain a large user base, ultimately leveraging network effects as a competitive advantage.