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Should I change to web3 to fundraise? Hell n…maybe? + Fundraising Fieldnotes - 1.21.22

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Should I change to web3 to fundraise? Hell n…maybe? + Fundraising Fieldnotes - 1.21.22

Jason Yeh
Jan 21, 2022
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Should I change to web3 to fundraise? Hell n…maybe? + Fundraising Fieldnotes - 1.21.22

adamantventures.substack.com

Hey - it’s Jason Yeh 🕺🏻

This is my Friday recap of thoughts I’ve had while helping founders solve their fundraising challenges this past week (1.21.22)

If you have any questions, please reply! I try to get to every comment/question I get :)

On to the Fieldnotes for 1.21.22…

Should I change to web3 to fundraise? Hell n…maybe? 

I chat with entrepreneurs all day, everyday. They range from founders of companies my old firm invested millions in, to tiny angel investments of mine, to random internet strangers looking for feedback. 

Over the last few months the most common conversation I’ve had with each of the aforementioned founder types has been around the web3 craze and whether or not they should be adding web3 into their pitch to improve their chances of fundraising. 

I don’t blame them. If you’re in the startup world, you would have to be wildly oblivious to not wonder what this movement’s impact on your company is. 

Do I think it’s a big deal? 

When you see investors like my good friend Julia Lipton of Awesome People Ventures 100% shift their investment strategy to web3 it’s hard to ignore.

Twitter avatar for @JuliaLipton
Julia Lipton (😈,😇) @JuliaLipton
Just made a confession to my LPs 👀 I've never been so scared to press the send button on an email 😅 Big things happening at Awesome People, stay tuned🚀
Image
4:43 AM ∙ Nov 11, 2021
833Likes52Retweets

Btw - this is not a struggling investor deciding to hard pivot to save her career. Julia switching to web3 would be like a baseball player who already batted .370 right-handed switching to batting lefty because she *knew* she’d do better.  For you non-baseball fans out there, it meant she was already great and chose to change to be even greater.

That is the kind of hype you have to pay attention to. And so do I think it’s an important wave? Yes, I do.

That said, I treat this question the same way I treat any other question that asks “should I do X to increase my chances of fundraising?”

To that, my answer is “no.”

No, you shouldn’t make your company a web3 company to improve your fundraising chances.

No, you shouldn’t find a co-founder to eliminate doubts about being a solo founder during fundraising.

No, you shouldn’t first build a prototype or run an MVP test just to entice investors.

No, you shouldn’t close your first sale to enhance the outcome of your fundraise.

But those things sound good… why not?

Good thought. Here’s the catch:

(continue reading…)

Read the full post

Weekly Fieldnotes 👇


He’s not wrong

Twitter avatar for @jspujji
Jesse Pujji @jspujji
The only 3 skills you need to be a successful founder are: 1. Knowing what product to make 2. Knowing how to build it 3. Knowing how to sell it
5:38 PM ∙ Dec 11, 2021
827Likes164Retweets

Another reminder to launch fast and iterate

Twitter avatar for @shl
Sahil Lavingia @shl
99% of learning happens after launching.
2:44 PM ∙ Dec 20, 2021
5,808Likes777Retweets

Till next week. Stay adamant and be chased.

Jason

Subscribe - you won't regret it!

p.s. The Steelers had just a 9% chance to make the playoffs before the last week of the regular season. I’m proud of them for even making it even tho they got smoked by the Chiefs (wompwomp).


In case you missed it…

Last week’s post demonstrated how to overcome the anxiety of asking for help & my top tips for making an effective request.

Adamant Ventures
Founders, It’s Time to Ask for Help + Fundraising Fieldnotes - 1.14.22
Hey - it’s Jason Yeh 🕺🏻 This is my Friday recap of thoughts I’ve had while helping founders solve their fundraising challenges this past week (1.14.22) If you have any questions, please reply! I try to get to every comment/question I get :) On to the Fieldnotes for 1.14.22…
Read more
a year ago · 1 like · Jason Yeh

Small asks!

If you thought this was helpful or enjoyable in any way, I’d love for you to:

  • Forward this newsletter to others who would enjoy it

  • Follow me on Twitter where I’ve begun building in public (my course, my podcast, etc)!

  • Listen with a friend to Funded, my podcast that tells the rollercoaster stories of how founders raised millions (and subscribe🙏)

  • Ask me your fundraising questions so I can help you and cover them in a future issue

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Should I change to web3 to fundraise? Hell n…maybe? + Fundraising Fieldnotes - 1.21.22

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