I feel like I’ve been having an identity crisis since my last email a month ago.
This is the playbook I’ve done a few times now:
1) Start under my own name / personal brand
2) Transition into its own brand
3) Scale the business
4) Exit the business.
Indeed, it’s what I was doing with this newsletter.
It started out as ‘Richard Patey’s weekly newsletter’ and then, after realising my interests were moving the newsletter down a crypto x creator rabbit hole, I picked up the domain lesspermission.com and switched to that.
Then, because I know that community is the most defensible media model in terms of copy cats (who make it a race to the bottom), I had set up and started promoting a discord community
This all changed as I went further into tokenized communities and DAOs and realised that I was operating with an ego-driven web2 mindset.
Setting up my own crypto newsletter, podcast and community is a -EV
move in 2021 vs contributing to existing media DAOs such as Bankless
The collective, hive-mind coupled with its own micro-economy will simply out-compete 99% of individual creators.
The Forefront newsletter
, for example, is simply the best resource on the social token / DAO landscape. You would be losing value by competing with it vs owning the $FF token and contributing to it.
And I now see that building my own community would also be a dumb move, even if I was planning on tokenizing it: