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  • Pricing Strategy

    Pricing Strategy
    2024/06/01
    with @jasonrosenthal @skominers @meigga @rhhackettWelcome to web3 with a16z, I’m Robert Hackett and today, we discuss pricing strategy for startups — from traditional businesses to web2 to web3.Topics we cover include:unit economicsunderstanding consumer psychologyusing onchain data to inform pricing decisionsCommon mistakes and how to avoid themHow to navigate a pricing pivotAnd lessons from real world pricing case studies, including Tesla, Nvidia, and othersOur experts include a16z crypto's Maggie Hsu, head of our go-to-market team; research partner and Harvard Business School professor of economics Scott Kominers; and head of our CSX startup accelerator Jason Rosenthal, who is a tech veteran having spent the last 25 years at various internet companies — the three combine all their different expertise around the theme of this episode.Resources for references in this episode:When is decentralizing on a blockchain valuable? by Marco Reuter (a16z crypto, January 2023)The Value of Decentralization Using the Blockchain: An Economic Analysis by Marco Reuter (a16z crypto, January 2023)"The single most important decision in evaluating a business is pricing power..." — Warren Buffett (Bloomberg, February 2011)Network Effects, Moats, & the Business of Web3 (Episode 25) (web3 with a16z podcast, May 2023)6 questions every founder should ask about pricing by Jason Rosenthal and Maggie Hsu (a16z crypto, May 2023)Zipcar: Refining the business model by Myra M. Hart, Michael J. Roberts and Julia Stevens (Harvard Business School Case Collection, May 2005)Ning CEO: Building a Better Website by Adam Lashinsky (Fortune, September 2010)On the best business advice Disney CEO Bob Iger ever received by Jeff Haden (Inc., December 2020)Predictably Irrational: The Hidden Forces that Shape Our Decisions by Dan Ariely (HarperCollins, February 2008)On the Bored Ape Kennel Club donating secondary sale proceeds to charity (Twitter, June 2021)Chief's Silicon Valley Stardom Quickly Clashed at J.C. Penney by Stephanie Clifford (New York Times, April 2013)Tesla turns up heat on rivals with global price cuts by (Reuters, January 2023)As a reminder none of the following should be taken as tax, business, legal, or investment advice. See a16zcrypto.com/disclosures for more important information, including a link to a list of our investments.
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    1 時間 11 分
  • Open Sourcing the Superchain (with Optimism)

    Open Sourcing the Superchain (with Optimism)
    2024/05/23
    with @jinglejamOP @eddylazzarin @rhhackettHello and welcome to web3 with a16z, a show about building the next era of the internet by the team at a16z crypto, that includes me, host Robert Hackett.Today’s episode features Jing Wang, CEO and executive director of the Optimism Foundation, along with a16z crypto CTO Eddy Lazzarin. We discuss the peculiarities of open source software — including the incentives that bind contributors together, tradeoffs between the freedom to customize versus sticking to standards, and the challenges in setting up and running a foundationWe also cover the nuances of governance and accountability, the importance of vibes, the indispensability of shipping products (versus debating roadmaps), and, the vision behind the so-called “superchain”.As head of the Optimism Foundation, Wang helps stewards the Optimism collective — a band of decentralized companies, communities, contributors, and others who are using a suite of open source software – called the OP Stack — to scale the Ethereum blockchain network. The OP Stack also powers a number of popular "layer two" rollups — including Base, which we covered in last week's episode with its creator and lead, Coinbase’s head of protocols Jesse Pollak.Be sure also to check out the a16z crypto YouTube channel for video podcast episodes, as well as talks from our recent startup accelerator programs CSX featuring Jing, Optimism co-founder Karl Floersch, and more.Resources for references in this episode:More on Optimism: open source code software licensesthe OP StackMore on the Optimism superchain collective, including:Coinbase's BaseRedstoneWorldcoin"Understanding Dencun, the biggest upgrade to Ethereum since The Merge" by Noah Citron and Valeria Nikolaenko (a16z crypto, March 2024)More on Ethereum upgrade EIP-4844 (Github)"Layer 2, rollups, and building onchain (with Base)" by Jesse Pollak, Eddy Lazzarin, and Robert Hackett (a16z crypto, May 2024)"Composability is to software as compound interest is to finance" by Chris Dixon (a16z crypto, October 2021)"The Nature of the Firm" by Ronald Coase (Economica, November 1937)"Weaknesses in the Articles of Confederation" [Intro 6.2 footnote] (Congress.gov)As a reminder none of the following should be taken as tax, business, legal, or investment advice. See a16zcrypto.com/disclosures for more important information, including a link to a list of our investments.
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    1 時間 26 分
  • Layer 2, Rollups, and Building Onchain (with Base)

    Layer 2, Rollups, and Building Onchain (with Base)
    2024/05/11
    with @jessepollak @NoahCitron @rhhackettWelcome to web3 with a16z, a show about building the next era of the internet by the team at a16z crypto, that includes me, host Robert Hackett. Today’s episode covers the bustling area of “layer 2” rollups, a technology for scaling “layer 1” blockchains such as Ethereum. Joining us is Jesse Pollak, who previously led engineering for Coinbase’s retail side and who now is the company’s head of protocols where he founded and leads the popular layer 2 rollup Base.We’re also joined by Noah Citron, an engineer at a16z crypto who works on many open source projects and protocols, and who closely tracks developments in this area.Our conversation digs into the shifting history and future of Ethereum, the arrival of upgrades like EIP-4844, experiments in futarchy, and the difference between leading — and innovating — inside companies versus within decentralized communities. We also discuss the challenges of winning developer mindshare, how to refine business metrics and measures, understanding the tangled interactions between rollups and bridges, and whether you should ever hyphenate the word “onchain.”Resources for references in this episode:jessepollak.com — Jesse Pollak's personal website"A rollup-centric Ethereum roadmap" by Vitalik Buterin (Fellowship of Ethereum Magicians, October 2020)"The Coinbase Secret Master Plan" by Brian Armstrong (Coinbase, September 2016)"Proposed milestones for rollups taking off training wheels" by VItalik Buterin (Fellowship of Ethereum Magicians, November 2022)L2Beat — dashboard of the state of the layer 2sDefiLlama — dashboard of the state of DeFiRelevant Dune dashboards relating to layer 2sEthereum blobsEthereum blob fee marketDEX cross-chain metricsFarcasters users transactions by chain"How rollups *actually* work" by Kelvin Fichter (ETHGlobal Scaling Ethereum Summit, March 2023)"Rollups are L1s (& L2s) a.k.a. how rollups *actually actually actually* work" by Jon Charbonneau (Mirror.xyz, May 2023)"Rollups, Rigor, and Reality" by Kevlin Fichter (kelvinfichter.com)"Futarchy: Vote Values, But Bet Beliefs" by Robin Hanson (George Mason University, August 2000)"Ethereum Rollup Improvement Proposals (RIP)" (Github)Ethereum EIP-4844 (Github, March 2023)As a reminder none of the following should be taken as tax, business, legal, or investment advice. See a16zcrypto.com/disclosures for more important information, including a link to a list of our investments.
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    1 時間 3 分
  • Theory to Code: Building the Breakthrough zkVM Jolt

    Theory to Code: Building the Breakthrough zkVM Jolt
    2024/05/01
    with @SuccinctJT @samrags_ @moodlezoup @rhhackettWelcome to web3 with a16z, a show about building the next era of the internet by the team at a16z crypto. That includes me, host Robert Hackett. Today's all new episode covers a very important and now fast developing area of technology that can help scale blockchains, but that also has many uses beyond blockchains as well.That category of technology is verifiable computing, and specifically, SNARKs. So today we dig into zkVMs, or "zero knowledge virtual machines," which use SNARKs, and we discuss a new design for them that the guests on this episode helped develop — work that resulted in Jolt, the most performant, easy-for-developers-to-use zkVM to date.The conversation that follows covers the history and evolution of the field, the surprising similarities between SNARK design and computer chip architecture, the tensions between general purpose versus application specific programming, and the challenges of turning abstract research theory into concrete engineering practice.Our guests include Justin Thaler, research partner at a16z crypto and associate professor of computer science at Georgetown University, who came up with the insights underpinning Jolt, along with collaborators from Microsoft Research, Carnegie Mellon, and New York Universities. His is the first voice you'll hear after mine, followed by Sam Ragsdale, investment engineer at a16z crypto, and Michael Zhu, research engineer at a16Z crypto, both of whom brought Jolt from concept to code.Resources for references in this episode:"Jolt: SNARKs for Virtual Machines via Lookups" by Arasu Arun, Srinath Setty & Justin Thaler (Cryptology ePrint Archive, 2023)the Jolt Github pageMichael Zhu and Sam Ragsdale’s post on the open source implementationJustin Thaler’s post on the ideas behind Joltan FAQ untangling this new SNARK design paradigmour Lasso + Jolt archives▶️📹 Jolt, zkVMs, and speeding up blockchains by Justin Thaler — a quick (five minute) explanation of what Jolt is and why it's important▶️📹 Correcting some SNARK misconceptions by Justin Thaler — a deeper dive into some of the common misconceptions behind Lasso (the theoretical foundation of Jolt) and how this new paradigm works"Zero Knowledge Canon, Part 1 & 2" by Elena Burger et al. (a16z crypto, September 2022)Computational Complexity: A Modern Approach by Sanjeev Arora and Boaz Barak (Princeton University, January 2007)As a reminder, none of the following should be taken as tax, business, legal, or investment advice. See a16zcrypto.com/disclosures for more important information, including a link to a list of our investments.
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    1 時間 15 分
  • Let's Get Digi-Physical: From 'Tap' Chips to Taylor Swift

    Let's Get Digi-Physical: From 'Tap' Chips to Taylor Swift
    2024/04/13
    with @creeefs @blauyourmind @rhhackettWelcome to web3 with a16z, a show about building the next generation of the internet from the team at a16z crypto — that includes me, Robert Hackett, your cohost and an editor here. Today's episode explores the merging of the physical and digital worlds, as well as what that means for the future of our interactions and identities.Our guests today are Chris Lee, cofounder of IYK, a startup that's bringing the physical closer together to the digital through NFC chips, and joining us is Michael Blau, a deal partner at a16z crypto who creates generative art in his spare time.In the conversation ahead, we cover new consumer experiences in everything from concert-going to commerce, the intersection of high tech and high fashion, and differences between building in web2 versus web3. We also dig into the power of open standards, the challenges of posed by bots and counterfeiting, and debates over terminology, including whether 'phygital' should be a thing.Resources for references in this episode:"After Taylor Swift Ticket Chaos, Senators Question FTC Over Bot Law Enforcement" (Rolling Stone, November 2022)"Pearl Jam: Taking on Ticketmaster" (Rolling Stone, December 1995)IYK FAQ (Notion)"Tap to pay your fare with OMNY" (MTA)"Introducing Stories Highlights and Stories Archive" (Instagram, December 2017)Taylor Swift | The Eras TourQueen - Bohemian Rhapsody (Live Aid 1985) (Youtube)"Queen win greatest live gig poll" (BBC News, November 2005)"The tech behind Taylor Swift concert wristbands" (Wired, June 2023)"Finally, The P.J. Tucker x D&G Collab is Here" (GQ, July 2021)On different models for linking NFTs to physical items (Mirror.xyz, February 2023)"Lessons from 2023's fashion and beauty NFTs" (Vogue Business, December 2023)"Singer Vérité’s fan-first approach to Web3, music NFTs and community building" (Cointelegraph, October 2023)"How to Spot a Real Moncler Jacket" (TheRealReal, November 2019)"Why Knockoffs Can Help Build a Strong Brand" (Freakonomics, September 2012)On the verification process at StockX (StockX)"I Returned to Webkinz So You Wouldn’t Have To" (Yale News, January 2019)"A Wine-Soaked True Crime Doc with ‘Fraud, Deception and Intrigue’" (Wine Enthusiast, May 2023)Sour Grapes (2016) documentary (Amazon Prime)"I Love the Blockchain, Just Not Bitcoin" (Coindesk, November 2014)"Timeline: Causes of the global semiconductor chip shortage" (Supply Chain Digital, January 2023)"ERC-721 Non-fungible Token Standard" (Ethereum Foundation, November 2023)Read Write Own by Chris Dixon book, bookmark, and NFT (Random House, January 2024)On Duolingo outfits (Duolingo Wiki)Ready Player One (Netflix, 2018)On "phygital" (Collectid, March 2023)As a reminder none of the following should be taken as business, legal, tax, or investment advice. Please see a16z.com/disclosures for more important information including a link to a list of our investments.
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    1 時間 17 分
  • The Art of Technology, The Technology of Art

    The Art of Technology, The Technology of Art
    2024/04/02

    with @dennnnnnnnny @smc90

    We know that technology has changed art, and that artists have evolved with every new technology — it’s a tale as old as humanity, moving from cave paintings to computers. Underlying these movements are endless debates around inventing versus remixing; between commercialism and art; between mainstream canon and fringe art; whether we’re living in an artistic monoculture now (the answer may surprise you); and much much more.

    So in this new episode featuring Berlin-based contemporary artist Simon Denny -- in conversation with a16z crypto editor in chief Sonal Chokshi -- we discuss all of the above debates. We also cover how artists experimented with the emergence of new technology platforms like the web browser, the iPhone, Instagram and social media; to how generative art found its “native” medium on blockchains, why NFTs; and other art movements.

    Denny also thinks of entrepreneurial ideas -- from Peter Thiel's to Chris Dixon's Read Write Own -- as an "aesthetic"; and thinks of technology artifacts (like NSA sketches!) as art -- reflecting all of these in his works across various mediums and contexts. How has technology changed art, and more importantly, how have artists changed with technology? How does art change our place in the world, or span beyond space? It's about optimism, and seeing things anew... all this and more in this episode.

    As a reminder: none of this is investment, business, legal, or tax advice; please see a16z.com/disclosures for more important information, including a link to a list of our investments.

    SHOW NOTES:
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    1 時間 6 分
  • Leading through uncertainty (with Coinbase CEO)

    Leading through uncertainty (with Coinbase CEO)
    2024/03/28

    with @brian_armstrong @cdixon

    Welcome to web3 with a16z, a show about building the next generation of the internet from the team at a16z crypto. This episode features Brian Armstrong, CEO and cofounder of Coinbase, in conversation with a16z crypto founder and managing partner Chris Dixon.

    The conversation was originally recorded at our Founders Summit in November. It covers the aftermath of FTX and the rise of crypto in politics — but it also goes into company building at scale, lessons for directing product development, how to balance core business with disruptive innovation, and more.

    As a reminder none of the following should be taken as business, legal, tax, or investment advice. Please see a16z.com/disclosures for more important information including a link to a list of our investments.
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    37 分
  • Snowboards, software, and scaling (with Shopify CEO)

    Snowboards, software, and scaling (with Shopify CEO)
    2024/03/28

    with @tobi @bhorowitz

    Welcome to the web3 with a16z podcast. Today's episode features a conversation between Tobias Lütke, CEO and cofounder of the ecommerce platform Shopify, and Ben Horowitz, cofounder of a16z, which took place at our second annual Founders Summit in November. They discuss what it takes to build a breakout startup in a crowded category; the changing face of retail; how to effect change in the workplace; and how to handle individual emotions and corporate culture — including dealing with calls for activism as well as the value of embracing negativity. They also touch on the moral imperative behind creating quality software, the symbiosis between AI and crypto, and more.

    As a reminder, none of the following should be taken as business, legal, tax, or investment advice. Please see a16z.com/disclosures for more important information, including a link to a list of our investments.
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    44 分