And *this* is precisely why you can’t tax people on unrealized capital gains.
Those products were often technically sound, and broadly useful, just unviable economically (often just at the time). Web3 is generally technically unsound, not broadly useful, and not economically viable.
The exact best time to launch a company is when you have a great idea that solves a super real problem for people, usually much better than how it was solved before.
It’s counterintuitive but raising less money will often lead to building a better business. It forces you to have constraints, which leads to more focus and higher quality decisions, which results in better products and more sustainable business models.
A subtle asymmetry between being a VC vs. being an operator is as a VC you get to place multiple bets, and as an operator you have one shot. This is why it’s vastly more important for operators to assess which trends will go mainstream than for VCs.
What seems like a crazy market is actually an increasingly sane one. The lesson is to build businesses that don’t require hype to drive your conviction, ensure you always have money in the bank, and if possible use cash flow to fuel growth vs. unending investment rounds.
Over a long enough time arc, markets function by investors paying for the likelihood of an asset generating a certain amount of cash in the future. High valuations can temporarily be fun, but eventually the market remembers why they invest in things. Plan accordingly!
We are committed to creating a safe, equitable and inclusive workplace for all Boxers.
Sorry this took 100 years, but now every file type in Box can have an edit permission shared link. Rolling out now!
Oh to have the self-confidence of your third most used browser asking if you’d like to make it the default browser.
Elon Musk has decided he’d like to be the only human that can be called to congress for up to 63 different topics.
Eventually we’re all going to work for Musk, Twitter is just an early beta tester.
Elon’s inbox will now consist of updates on how traveling to mars is going, how soon we can link our brains to computers, the state of self-driving AI, and requests for an edit tweet button.
Imagine having $130B and then still spending time day trading stocks.
No matter what Twitter does, we’re going to complain about it. Twitter is just all the most opinionated people on the internet in one giant chat room. Good luck with that 🤪
If you’re the richest person in the world and *not* doing hostile takeovers, what’s even the point
Who knew so many people who don’t like moderation on social media were also M&A and hostile takeover experts.
I mean who hasn’t worked multiple jobs just to save up enough money so they could splurge on their favorite app.
Dropping some product news tomorrow that a lot of customers have been asking for 😎🤐.
After a few years of being in place, taxing unrealized capital gains would begin to hurt everyone: investors will prefer low growth liquid assets, or short term investments so they can sell to cover taxes. This is unequivocally bad for the economy, job creation, and innovation.
Just remember: at scale, consumers will generally choose the simpler software to successfully perform the task at hand. If your technical complexity isn’t sufficiently abstracted from the user, best of luck.
I have to admit, when we started Box we didn’t imagine one of the use cases would be Cardi B using it to come with receipts.
Honestly congrats to the web3 crowd for utterly confusing politicians 👏x
Remember: customers rarely care about how novel your technology is, only what problems it solves for them. Never lose sight of that as a startup.
The challenge with taxing unrealized gains is you can force selling or borrowing against assets at inopportune times, which can easily lead to systemic risk, volatility, or lack of long-term investing in the markets over time. Only bad scenarios. There must be another way.