Tim Drapers fireside chat at Webit
We are at an exciting time and entering an incredible future - where geographical borders are opennng up
- where we have trust and freedom to do business anywhere with Bitcoin as an enabler to freedom and breaking down borders - Tim Draper tell Webit -
Leaders who want to maintain the status quo are threatened by freedom and open borders -
War is expected by leaders trying to maintain the status quo - dinasour leaders are scared - this is a roar of a dying lion
Enlightened leaders will set people free and trust humans to do right thing and operate from wherever they may be - they will remove borders take down trade barriers and constraints
This is an exciting time for humanity
The future world is no longer command and control from top . We have an Interesting and exciting Future - where we are striving for one people !
You are able to identify trend 5 years hence - what’s your secret?
I am continually meeting entrepreneurs and innovators (sometimes 8 a day ) who are showing me what world is going to look like . We have many Competitions , events , the Show “meet the Drapers” with 30m viewers attracting better entrepreneurs , start up houses .
We are in the business of finding and developing entrepreneurs - helping the best of them to be succesful - giving away money and placing our trust in entrepreneurs .
The stock exchange is shitting itself , cryptos seem to be melting , InterStaff rates are rising - Vc valuations are down - where to from here
We go through Cycles - splurge and purge - and both are needed
Biggest companies came from worst of times and best of times
- Google Uber and Airbnb came at bottom of market
- Amazon at top where valuations high
Splurge is where money is freely available and there is a bill market - ideas are formulated - massive risks are taken ….
We are going though a purge - a bear market - and in these times innovation thrive - people will come up with good models to show profitability
Stressed times forces entrepreneurs and innovators to be more creative
Stay lean focus what really matters
It’s Harder to raise money
Entrepreneurs need to focus on how to Make money and how to build distribution channels
The verdict
- it’s a bright future - we need to get past the speed bumps - of bad leaders who try to command and control - and move towards those good leaders who will open borders and trust their people without having to micromanage !
Freedom and trust - are powerful states that will enable governments to Deregulate and lower taxes .
Connection and collaboration brings about
Trust and freedom - which brings an abundance of opportunities vs scarcity based thinking in a world of command and control
It’s the young world that is the abundant world
It is the old world that is based on - command and control - with the creation of false geographical borders
People do better through collaboration and competition
Colllabottition
Defi - or Fintech where is change where is it heading
Draper estimates that Bitcoin will reach $ 250k in a few years and will be pervasive
It’s Not as expensive on transaction as the banks
Dow - creates new forms of collaboration
Allow shareholders , employees and customers to benefit from growth - where All stakeholders beneficiaries
Dow Opportunity gives more people a piece of Success power currency
Bezos and Musk have done extraordinary things we need to honour them - How could all stakeholders be beneficiaries of success - feel ownership of the experience?
1st Dow was Bitcoin - benefited people in many places
Nigeria - has another currency - not part of corrupt govt currency that’s party of rampant inflation
Argentina - can use Bitcoin keep from being trapped in an environment of hyperinflation
Poor have an opportunity to break through cycle of poverty
Dows major effect allow innovators to bring a part of society up
Defi - decentralisation of finance
Defi Vs Fintech
Defi is Fintech!
Draper’s ideal economy is where ha can
- Raise fund in Bitcoin
- Invest in Bitcoin
- Paid on Bitcoin
- Entire system on Bitcoin
No need for layers of accountability
Blockchain keeping records
Smart contracts created
Micropayments can be made
What can we do get over the current hump and and have a better world sooner
Trouble in Ukraine and Russia - shit is happenning - internet rates are rising , inflation is on the horizon - it’s stressful . What can we do ?
- We need to get over the speed bump and weed out leaders who are trying to take real estate from other leaders
- We need to trust each other, set direction and set employees and citizens free
- We need to Encourage politicians to shrink govt
- We need to have Less imposition and more supporters of business and humanity
As a VC we give money and and put our trust in them - More often than not - live up to trust
Message to Business owners and political leaders
The more you trust your people the less you have regulate , the freer they become , the innovative they become and the bigger your economy will become
Positivism is contagious and is a shining light
Webit’s aim is to create resilient and sustainable world worth a desirable future where people feel happy
Onwards and upwards
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