What Is Web3?

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

The current internet is controlled by a few players with concentrated power over the users.

The next generation of the web, called Web3 seeks to decentralize the internet and give control back to the users.

Web3 promises to give creators a larger share of the revenue from their work.

It also promises to give users control back over their own data and content.

Web3 uses blockchain technology which enables decentralized control and removes the gatekeepers.

The current web lacks a layer for handling payment transactions.

Cryptocurrencies provide technical solutions to enable Web3 by providing tokens to incentivize users and compensate those who work on it.

Web3 brings a new approach to software that takes it to the next level.

It brings composability which lets one build new capabilities on existing software modules.

This speeds up the software development and increases the capabilities of the system as well.

Web3 also defines the interface between systems to enhance the exchange of data and interconnections among companies.

Web3 is the next generation of software.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

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On this episode of Investor Connect, Hall welcomes Matt Duomo, CEO and AI Strategy Expert at Fifth Advantage. Located in Austin, Texas, Fifth Advantage helps businesses become future-ready by leveraging AI and digital technologies to drive growth and efficiency. This innovative company is renowned for its "anti-consulting" approach, which focuses on delivering fast, actionable results that empower clients to thrive autonomously. With a team of experts known as the "Avengers of AI," Fifth Advantage emphasizes the collaboration and adaptation necessary for companies to navigate the rapidly evolving technological landscape and successfully implement AI strategies.

Matt Duomo has a rich background in technology, having worked with industry giants like Microsoft and Amazon. As a founding general manager of Amazon Web Services’ database division, he played a crucial role in developing products like Microsoft Dynamics and the speech infrastructure that became Cortana. Matt has a wealth of experience in leading projects to successful exits, including companies that achieved a combined $1.6 billion in exits. At Fifth Advantage, he is driven by a desire to provide guidance and support to businesses embracing AI during the dawn of the Fourth Industrial Revolution, aiming to empower organizations for autonomous growth and success.

In this episode, Matt shares his insights on the importance of understanding AI demands within businesses and how to deliver growth in a matter of weeks. He discusses the evolving landscape for family offices to invest in AI and the need for practical, value-based investments. Matt emphasizes a collaborative approach to working with clients, ensuring that they can navigate challenges and embrace opportunities in AI.

Matt delves into how both Jeff Bezos and Bill Gates have influenced his views on innovation and AI. He explains the necessity of working backward from the customer needs and setting realistic goals to ensure AI projects succeed. The conversation also covers how family offices are uniquely positioned to invest in AI, especially during a time when traditional venture capital models are changing. He underscores the importance of creating value, enhancing employee experiences, and leveraging AI as a tool for efficiency and innovation in business.

Visit Fifth Advantage at www.fifthvantage.com, LinkedIn, and on Twitter.
Reach out to Matt at matt.duomo@fifthvantage.com, LinkedIn, and on Twitter.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org

Check out our other podcasts here: https://investorconnect.org/
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How To Write a DAO Constitution

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

In setting up a DAO it’s important to write a constitution defining the governance and establishing the rules.

Here are some key steps in writing a constitution for your DAO:

Start with the vision of the DAO by stating its mission and values.

Describe the governance structure including roles and responsibilities.

Define the guidelines for the members including rewards for adding value and penalties for causing harm with mechanisms for enforcement.

Include rules for protecting the members, the treasury, and other key assets and stakeholders.

Invite input from the members to review and comment on the draft.

Add new rules as the need arises.

Set up a process for updating the rules.

There are many other DAO constitutions available.

Review and consider what can be drawn from them.

All of this must work within the software framework for running the DAO.

Consider these steps in setting up your DAO.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org

Check out our other podcasts here: https://investorconnect.org/
For Investors check out: https://tencapital.group/investor-landing/
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Delegated Voting in DAOs

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

DAOs bring many benefits to online communities such as member control over the direction of the DAO.

One of the challenges with current DAOs is member voting.

Just as voters in political elections are susceptible to apathy and lack of engagement so members of DAOs suffer the same challenges.

Voter participation is a problem.

One solution is the delegated voter in which the members give their proxy to another to vote on their behalf.

Delegated voters can solve the time problem in that not every member has the time to follow each issue.

The political system uses delegated voters in which the citizens elect someone to vote on their behalf for each issue.

There are challenges with delegated voters.

Once someone becomes a delegated voter it’s difficult to remove them.

Potential solutions are term limits. Each delegate can serve only for a limited time period.

Another is limiting the number of votes a delegate can control.

This reduces the chance of concentration of power in too few hands.

Finally, there’s bribery in which members give their tokens to delegates in return for support for the member’s initiatives.

Consider these issues in setting up delegated voters.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org

Check out our other podcasts here: https://investorconnect.org/
For Investors check out: https://tencapital.group/investor-landing/
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VC Usage of DAOs

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

DAOs bring many benefits to the startup fundraise.

These include a community focused on supporting a common cause.

And software to track the results and execute the policies of the group.

Venture capital will find both aspects appealing for startup fundraising.

Since the regulatory laws behind DAOs are not yet defined in the US, it is difficult to use a DAO directly for raising and deploying funds.

Other tools such as Special Purpose Vehicles or SPVs can be used.

DAOs can be used to support a fundraise such as harnessing the community to invest in the startup.

Since investors fund causes they support, the DAO is an ideal tool for raising funds.

The software tools based on blockchain technology can also be used to track the community’s interest and actual engagement in a fundraise.

Smart contracts for fundraising can also be reused by the VC industry to raise and deploy funds into startups.

There are several DAOs that track the newly formed DAOs.

This makes it possible to identify the appropriate communities to pursue for startup fundraising.

DAOs provide not only potential investors but also software to track the community of investors and smart contracts to execute the fundraise.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org

Check out our other podcasts here: https://investorconnect.org/
For Investors check out: https://tencapital.group/investor-landing/
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Fundraising With DAOs

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

DAOs bring a new level of community engagement to startup fundraising.

The community within the DAO can support the startup not only with investment dollars but also by promoting and supporting the startup.

Here are some key issues with using DAOs for your startup.

The DAO in most cases is not a legal entity but rather an unincorporated partnership.

This means the members of the DAO are personally liable for any damages the DAO may cause.

DAOs use a network of people to constitute the DAO rather than a formal hierarchy of leadership.

This means there’s no one person to go to for a decision.

All decisions are made by community votes.

A startup fundraising campaign must be able to engage the community as a whole.

Most DAOs transact with their native token.

This means the value is not tied to a fiat currency such as the dollar and can swing in value drastically.

To fund a startup there needs to be a mechanism for moving the tokens into dollars for the startup to deploy for hard costs such as paying taxes.

Charitable organizations raising funding must also consider that distributing tokens for donations may not qualify as a charitable contribution.

Consider these issues with fundraising through a DAO.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org

Check out our other podcasts here: https://investorconnect.org/
For Investors check out: https://tencapital.group/investor-landing/
For Startups check out: https://tencapital.group/company-landing/
For eGuides check out: https://tencapital.group/education/
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For Feedback please contact info@tencapital.group

Please follow, share, and leave a review.

Music courtesy of Bensound.

DAOs Bring a New MVP

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

DAOs or Distributed Autonomous Organizations are communities with a purpose using software platforms to coordinate and execute the policies of its members.

Startups traditionally bring an MVP or Minimum Viable Product to the market to test interest and demonstrate they can build and deliver a solution.

In the Web3 world, the startup is part of a community and must test interest with that group.

This shifts the focus of building something that someone wants to building something that a particular group of people want.

DAOs bring a community together for a common purpose.

Their requirements are more specific and in some cases more demanding.

Those within DAOs are more collaborative and supportive and can be not only users but also investors and potential employees.

This creates a new dynamic in building an MVP.

It must not only solve the problem but also appeal to the people who have a stake in a cause and want to see it grow and develop.

The MVP in a DAO must be more compelling and aligned with the interests of the group.

The connection among members of a DAO provides more information and feedback than traditional communities.

Consider what your MVP must achieve to be successful in a DAO.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org

Check out our other podcasts here: https://investorconnect.org/
For Investors check out: https://tencapital.group/investor-landing/
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On this episode of Investor Connect, Hall welcomes Mario Vasquez, Founder and CEO at Vest Social. Located in Georgetown, Texas, Vest Social is a newly launched platform aimed at connecting individuals and businesses in the construction industry. The company addresses the significant challenge many face in hiring skilled labor by leveraging technology to create a user-friendly environment where contractors and job seekers can find each other easily. With the app recently launched, the focus is on building a strong user base and refining the platform's offerings to better meet the needs of the construction sector.

Mario has dedicated his career to the construction industry, and his extensive experience led him to identify the growing need for a dedicated hiring platform in this field. With a background in tech and construction, he saw firsthand the difficulties in recruitment and decided to create a solution that not only simplifies the hiring process but also caters specifically to the construction trades. Over the past year, he has assembled a talented team to develop and launch Vest Social, showcasing his commitment to innovation in the industry.

In this episode, Mario discusses the initial launch of Vest Social, the challenges of building a user base, and the strategic decisions made regarding marketing and funding. He shares insights into the importance of targeted regional marketing within Texas, highlighting his desire to create a community where tradespeople can connect effectively and efficiently.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org

Check out our other podcasts here: https://investorconnect.org/
For Investors check out: https://tencapital.group/investor-landing/
For Startups check out: https://tencapital.group/company-landing/
For eGuides check out: https://tencapital.group/education/
For upcoming Events, check out https://tencapital.group/events/

For Feedback please contact info@tencapital.group

Please follow, share, and leave a review.

Music courtesy of Bensound.