Aug 16, 2018 On Our Blog

Making Crypto Taxes Less Cryptic

Roughly 5% of Americans own crypto assets, but only 0.04% of those people reported crypto gains or losses on their taxes. Clearly, something doesn’t add up, and the government tax collecting agencies are starting to notice the delta as well. Although regulations are still playing catch up in many countries, the tax law is often clear: you need to pay taxes on the gains. When it comes to traditional assets, governments rely on financial institutions such as banks and brokerage firms as a check and balance against consumers hiding their gains. However, no such audit record exists in the crypto world. Now governments are starting to build their own audit tools in order to examine the transactions of traders and …


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Aug 1, 2018 On Our Blog

Announcing 500 Summer School for Blockchain!

Three weeks ago, 500 Startups launched a new summer education program for blockchain companies in San Francisco. The new cohort consists of six innovative startups from four countries, all working in the cryptocurrency and blockchain space, many of them post-token offering and rapidly growing. The participants’ solutions range from helping governments collect and audit crypto trader taxes, to innovative human resources systems helping companies find and hire the best employees, to the next Bloomberg for the Crypto world. The beginning of a new tradition at 500, this program will run over the summer and will be focused on helping crypto companies develop focused growth strategies specifically tailored for their industry and carrying no investment. 500 Partner Robert Neivert and Entrepreneur …


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Jul 9, 2018 On Our Blog

Don’t Bind Your Soul to a Token. Yet.

Over the last few months, I have heard countless conversations with crypto startups talking about “tokenizing” one item or another, from pets to food products. I heard 20 really good ideas, and 100 bad ones. I keep talking about the idea that just because you can do something, does not mean it is a good idea to do it. So I thought I would put together some thoughts on what makes for a good token project, specifically one where non-fungible assets are involved. In theory, any physical objects could be “tokenized” or represented by a token. The challenge is finding the right place to use a token in order to create real value. Not every unique object should be a …


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Jun 8, 2018 On Our Blog

Arrogance is Killing Blockchain Companies

The deadliest sin for startups is arrogance. Founders often approach us convinced that they have product market fit, sales forecasts for millions in revenue, “hack proof” systems, and simple plans for hiring hundreds of “top 1%” employees, sometimes without any evidence to back it up. A startup’s survival depends on a founder’s ability to stay humble. That means keeping an open mind, asking the right questions, and verifying the answers until the data — not just blind faith — proves out your hypothesis. Don’t be afraid to seek out help, and even to use creative methods to get what you need. Everyone needs help (including us), and the winners in this game have the courage to ask. Over the last seven …


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Dec 21, 2016 Official Announcement

Turbo Charging Growth: 500 Partners with GM

After 19 batches since 2010, we’ve seen our companies experience the impact of strong mentorship. Today, 500 Startups, is announcing a Seed Program collaboration between General Motors and 500 focused right here in Silicon Valley as an effort to continually evolve and heighten our programs. Our first corporate partner track aligns with GM’s vision to be innovative, autonomous, connected, electrified, and to create solutions that truly change the value and sustainability of transportation to enhance customers’ lives. This partnership with GM will provide important resources developed to give access and knowledge transfer to one of the largest global automotive companies in the world. When is this happening? Starting January 23rd, we will open the first class as part of Batch …


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