3 Web3/Crypto Mistakes to Avoid for Startup Founders (w/ Imran Khan of Alliance DAO)

What distinguishes the 1% of crypto projects that actually work and fulfill their value from the 99% that don’t? Today, we’re sitting with Imran Khan, cofounder of Alliance DAO to answer just that.

00:00 A future in decentralization
1:35 Mistake #1: Raising too much money too fast
2:47 Mistake #2: Prioritizing token economics over product
5:14 Mistake #3: Not taking governance seriously

I’m Garry Tan, venture capitalist and founder at Initialized Capital. We were earliest investors in billion dollar startups like Coinbase and Instacart, and I’m a Forbes Midas List Top 100 venture capitalist in the world. We want these videos to be about helping people build world-class teams and startups that touch a billion people. Our startups have gone on to create more than $200 billion in market value so far, and Initialized has over $3.2B in assets under management.

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[uchennaedeoga]

Really, really good advice here. These points are actually why we have 99% of failed crypto projects

[housebaratheon]

One of the best videos ever published on this channel!

[OleksiiSidorov]

Web3 is getting back to earth and it's a happy moment for the industry. Alliance guys understand it as no one else and keep investing even now, while scammers and flippers are out. Can only vouch for their help and integrity as someone who was in both, YC and Alliance. Ping me on tw if you have any questions. (PS: good lighting for Imran)

[tomasbaron]

Really good advice for building a proper Web 3.0 product. For the creation of real impactful projects, that will have a good PMF and reinstall trust in the crypto space, that has had a pretty awful run in the past couple of months. Taking into account this type of projects are going to be big/ really important for our economy, society and business and profitable in a few years, we should create better projeccts and really prioritize the customers: the community as in any business that thrives, impacts and serves a real purpose.

Love your videos Garry, much love from Colombia, have been watching you for a couple of months now. I hope to meet you one day to learn more from you or when you are investing in my future company. 👀

And I also have a question for you: What makes you happy? And how does it connects with investing and creating businesses.

Thank You, and have a Nice Day.

[MinorityProgrammers]

Web2 and Web3 are pretty similar, loves Garry emphasis of this

[itschrisuphere]

Controversial opinion/hot take: I think there is too much top level emphasis on labeling companies, businesses, products as 'Web3'. In many ways, it is only a decentralization technology. Not different from how other 'real businesses' don't talk about how they are 'Mobile', 'IoT', or use 'NoSQL databases'.

The true breakout Web3 companies will be the ones where Web3 is a means to an end, where the Web3 tech is applied in a way where decentralization is the optimal solution (this is not always the case) and all of the users and customers do not even know it is 'Web3'. As a result, outside of technology circles front discussion on that something is 'Web3' is....maybe missing the point?

[webdecoded]

Very good points! I think raising too much money too fast isn't only web3 founders problem happens a lot in startups

[barbarosozturk]

One of the best videos created so far to emphasize on the distinction between the crypto scams and the potential of Web3.

[Filaxsan]

Another well appreciated video around Web3, thanks for making and sharing this Garry!

[Thefewfunds]

So lost on all this but staying around to learn and apply to my business

[aaravvarma]

Garry do you think, Web3 or complete decentralized system works ? I think there will always be a certain level centralization and I think we need to look at hybrid structures and I love what Imran said focus on product and nothing more & get the product market fit and then think the other jazz, being a founder I was currently in the same pickle should I focus on product or the jazz of tokenomics and I'm thankful I got the answer.

[george_davituri]

all about ups and downs, in recent two years crypto hype slowed down, but now it's pushing forward again, BTC is about to hit 100k. Interesting to watch how it evolves over time, I mean not only crypto it can be any tech.

[flamingjob]

Thank you so much Garry for your wisdom. Appreciate all your effort and your vision in your videos:)

[arkoganguli]

I disagree with the point of tokens to a limited way. You need to have a robust tokenomics for a good product, or speculating dumping can destroy the entire network. Albeit, product comes first, without a doubt.

[Abinashray]

You are super genius. Love from India.🙏

[esgosar]

Point 2 is the same as thinking about intrinsic value. Don't think about the currency, think about the business.

[TochStyle]

Web 3 for sure.. is very interesting lol

[Jake]

intersting ideas you noted that i was not aware about to think about

[nixtoshi]

Great content as always Garry!
Crypto is the future financial infrastructure, but it needs more fundamental value to succeed.
Fundamental value at the end of the day is inescapable.

[tabotcharlesbessong]

I believe this does not not hold true just for crypto but all tech companies