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We spent the last fifteen years working for gig money, likes, retweets, and follows. Tech platforms gave us reputation or cash, but no ownership, upside, or voice in its evolution.
This is about to change (a thread on why)
This is about to change (a thread on why)
The digital economy has radically changed the relationship between customers and corporations. Individuals have switched from being passive consumers to being an essential force in creating value, either through their actual work (Airbnb hosts, Uber drivers, etc) or their data.
Today, the user is not only the consumer. The user does the work.
Companies are recognizing the need to better align with their participants.
Companies are recognizing the need to better align with their participants.
Why?
* Cultural tailwinds support inclusive economic models > extractive models
* Software is eating the markets, giving more people knowledge of, comfort with, and access to, new investment opportunities.
* Crypto is making it possible to financialize everything.
* Cultural tailwinds support inclusive economic models > extractive models
* Software is eating the markets, giving more people knowledge of, comfort with, and access to, new investment opportunities.
* Crypto is making it possible to financialize everything.
“Crypto” has 3 main use cases in the context of the Ownership Economy:
1) Financial : Raise $ while aligning your upside with key stakeholders
2) Social : Incentivize fans to engage and become your distribution.
3) Governance : Give stakeholders a voice in business
1) Financial : Raise $ while aligning your upside with key stakeholders
2) Social : Incentivize fans to engage and become your distribution.
3) Governance : Give stakeholders a voice in business
But as much as crypto fans want to believe they’ve created something startling and revolutionary, in reality, the social tokens experience feels: unfamiliar (payments happen off-platform), overwhelming (you end up in a confusing maze of wallets), and pyramid scheme-y.
Social tokens represent one step in a progression — from traditional cap tables and employee stock option plans towards crowdfunding and social tokens 
The next step in that progression is programmable equity
@FairmintCO is Kickstarter on steroids, mixed with Carta, embedded in the products we love. They’re building the picks and shovels for founders to turn their equity into the most powerful tool to align with contributors
@FairmintCO is Kickstarter on steroids, mixed with Carta, embedded in the products we love. They’re building the picks and shovels for founders to turn their equity into the most powerful tool to align with contributors
Our heads are spinning with possibilities:
* What if Wikipedia was owned by editors?
* Shouldn’t Uber’s drivers own a piece of the biz?
* Would writers be less likely to leave Substack if they owned a piece?
* What if Taylor Swift’s fans could replace Scooter Braun?
* What if Wikipedia was owned by editors?
* Shouldn’t Uber’s drivers own a piece of the biz?
* Would writers be less likely to leave Substack if they owned a piece?
* What if Taylor Swift’s fans could replace Scooter Braun?
In the same way the internet made it easy for everyone in the world to create and share content, the next step is to give everyone the ability to create and share value.
Driven by network effects, technology has radically changed the pace of wealth accumulation. It took Hyatt 63 years to be worth $7 billion. It only took Airbnb 12 years to be worth $18 billion.
Crypto’s true promise is the ability to usher in a new economic operating system where distributing that value is as easy as paying payroll. One that shifts the paradigm of ownership to the individuals and communities responsible for creating value.
Viewed through that lens, Fairmint is more than a product; it’s a movement
To read the full post head over to @packyM @notboringclub: https://notboring.substack.com/p/fairmint
To read the full post head over to @packyM @notboringclub: https://notboring.substack.com/p/fairmint
P.S. I am not an investor in Fairmint and I was not paid to write this. I genuinely love the product.
