The No Cap Newsletter (006)

DATE POSTED
December 17, 2021
Welcome to Edition 006 of the No Cap Newsletter ! We’ll cover industry news, key program learnings, and of course, spotlight a RippleX Fellow doing awesome things! 📜 WEB3 BLOG SERIES  📜 We don’t need to repeat why crypto and web3 are going to be at the forefront of the next generation’s companies. We believe in it, and text our frens “gm” and “wagmi” every morning. We’ll cut the bullsh*t and get straight to the point. It’s hard for the average person to understand what this noise is all about, so we took the initiative to write up a series of posts that dive into what’s actually inside the rabbit hole. We just launched our second edition of the seven-part series that covers: What is Web 1, 2, 3? The Benefits and Drawbacks of Web 2 Why Does Web 3 Matter? What’s the Metaverse? What the Crypto Market Looks Like A Simplified View into the Web3 Ecosystem Web 3 Dictionary Resource Interested to learn more? Click here ! 📝 Due Diligence Whether you’re a VC or a founder, diligence is a fundamental part of any process where assumptions are thrown out the window and the facts are put to the test. There will always be glamour surrounding a company from the team, product, or market - however, it’s important to recognize the truth behind it all. Through the lens of the VC, here are a few questions that will need to be answered: What needs to happen for the company to be successful? What could go wrong with the company, and can it be mitigated? How could this company grow into something much bigger than what they’re doing today? Through the lens of the founder, here’s why the diligence process matters: You’re going to have to put on an investor hat when you’re fundraising and putting together your data room when you get to that point Understand what investors are looking for, how they evaluate companies, so that you can evaluate your own company from that lens So you can successfully fundraise and speak the same lingo as the investors The diligence process consisting of testing out the product, reviewing company/market metrics, assessing the founders - will all oftentimes provide clarity of the company and provide an opportunity to discover methods of improvement. Let’s Dive into Web3 Unless you’ve been hiding out in a cave for the past few months, you may have come across crypto or web3 on any social media platform, heard about it at coffee shops, or simply while walking your dog. The hype behind it all roots from the pivot we are currently making towards a decentralized internet. The opportunity to share content and govern it collectively - a new approach to read, write and own. Don’t scroll away. Not a believer in web3? Let’s follow the money trail. All eyes are on investors betting on new startups which are creating innovative solutions based on web3 technologies. As of late November 2021, VCs have invested over $27 billion globally and investors are increasingly allocating assets or developing new funds only directed towards web3 technologies. Notable VC firms Andreessen Horowitz and Paradigm have both shown their interest by creating funds valued at $2.2 billion and $2.5 billion respectively. Without a doubt, this transformative technology is community-driven and currently, you’ll find massive web3 communities living primarily on Twitter and Discord. As an entirely new ecosystem is being built and emerging from the ground up, it is often said that we are still in the early stages of everything that is to come. Here are examples of Web3 platforms inspired by Web2: 💡 Fellow Spotlight Akshay Maharaj - Co-Founder & COO at Avybe As the creator economy continues to gain tremendous momentum, creators are on the lookout for new opportunities to monetize their brand and develop new methods of engagement with their supporters. This is exactly why we are excited to introduce Avybe co-led by Akshay Maharaj from Cohort #8. Avybe is the new hub to watch authentic content from your favorite social media stars. This media platform enables fans to be rewarded for supporting their favorite content creator. By merging and connecting to social media platforms, users are able to earn Avybe points by watching their favorite creators on any linked media platform or by completing daily challenges. This driving incentive of earning points allows fans to redeem two-way personalized interactions with any Avybe creator. By optimizing towards a gamified experience, creators are able to monetize their fan base and engage through live video calls, personalized chats, and much more. See what Akshay said about his experience with the fellowship program 👇 “RippleX Fellowship has taught me multiple items, from the importance of networking to how to get a venture capital job. However, the most valuable component of the fellowship for me is the educational component of the venture capital industry. Ripple has equipped me with the knowledge of fundraising, which is extremely rare to acquire. To finally have this understanding, fundraising for my own venture has become less daunting and I am more confident than ever to go after venture capital.” Interested in being featured? Looking to share exciting news? Please reach out to Dominic at dom@rippleventures.com. Authored by Turja Chowdhury (Cohort #9).
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