Aug 28, 2018 On Our Blog

The evolution of crypto – It’s time to ship some product

Is crypto just another trading platform or can it evolve into something with real long-term value? If you’re reading Cointelegraph, Cryptonews, or other industry outlets, you’ll notice the news is dominated by coin trading information, from BTC price changes to the analysis of alt-coin price movements. To a casual observer, crypto is highly focused on coin trading, much of which is driven by speculators. There’s less of an emphasis on the long-term value of the underlying products in crypto. Functional products are few and far between, and the majority of coins have little practical use as a way to pay for products or services. Speculation does have some positive effects on the ecosystem. More speculators buying coins tends to drive …


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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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