@nickgrossman's latest posts

Continuations : What’s Next?

Earlier this week at WebSummit in Lisbon I gave a talk about my favorite topic: our need to get past the Industrial Age. The result of the US Presidential Election is the strongest evidence yet how urgently we need to come up with a more coherent view of the future, or we will have demagogues lead us back into the past.

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Proof Of Stake – AVC

I am hopeful that we will see a large public project, like Ethereum, attempt to implement a proof of stake consensus algorithm in the next year or two. Mining works. It has validated blockchain technology and allowed it to be commercialized. But my gut tells me that mining is not the best consensus system out there and that we can do better. And so we should see if we can. That’s what forward progress is all about.

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Founder Dilution – AVC

Raising round after round of venture capital is expensive. There are some entrepreneurs who figure out how to get profitable and not raise round after round (or avoid VC altogether), there are some entrepreneurs who are able to raise a very high valuations and avoid a lot of dilution, and there are many entrepreneurs who choose to sell the business before they take a lot of dilution. But for the entrepreneurs who raise four to six rounds of VC before going public, the math is the math. If you end up owning more than 20% at IPO, you are beating the averages.

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