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Our Web3 Future

Our Web3 Future
By Keith Teare • Issue #296 • View online
Web3 is becoming a more familiar label for innovative technologies. But what is it? This week Maggie Hsu from Andreessen Horowitz gets lead position for her article covering what makes Web3 marketing different.

Contents
Editorial
Tech stocks have somewhat rebounded this week so it has been possible to forget how much value has disappeared from the public markets. And while there are some interesting developments in the venture capital space (Tiger Global’s new $11bn sidecar fund, a great profile of Roelof Botha and Blackrock predicting 1000 energy sector unicorns) other things caught my attention.
Jessica Lessin’s wonderful writing covering the Facebook, Google, Apple universe was one. MG Siegler’s piece is a nice complement. Foundry Group terminating its two SPACs is another. The SPAC world has really ceased to be a viable path to a public offering for most companies. Forbes, with $200m from Binance newly banked, seems an unlikely candidate for example.
But top of the list for an attention-grabbing read was Andreessen Horowitz partner Maggie Hsu’s piece on Future covering the differences in go-to-market strategies between Web3 companies and their Web2 predecessors. It is a long thoughtful piece by an experienced product marketer. It really helps somebody contemplating a Web3 product understand the key elements of success and chart a path to navigating their journey. She ends with the following summary:
The key difference to remember is that the goals, growth, and success metrics of web2 and web3 are often not the same. Builders should start with a clear purpose, grow a community around that purpose, and match their growth strategies and community incentives — and with them, the go-to-market motions — accordingly. 
The building blocks to arriving at that summary are a must-read. Hsu starts out stating:
This new model, known as web3, changes the entire idea of GTM for these new kinds of companies. While some traditional customer acquisition frameworks are still relevant, the introduction of tokens and novel organizational structures such as decentralized autonomous organizations (DAOs) requires a variety of go-to-market approaches.
It goes on to look at the difference in go-to-market strategies available to different types of organizations as depicted in this matrix:
Hsu drills down into the differing organization types, with and without tokens, and suggests ways of thinking about successful market entry.
Honestly, I have nothing to add to her work other than to suggest you read it. Even if you are not a Web3 participant it will clarify much about what characterizes Web3 and why it is part of our future.
More in this week’s video which will be coming Saturday afternoon (Pacific Time) as we couldn’t find a slot to record on Friday. I will send the video separately, with the newsletter coming first and early (today).
Video
Our Web3 Future
Our Web3 Future
Our Web3 Future
Go-to-Market in Web3: New Mindsets, Tactics, Metrics | Future
Silicon Valley bets on blockchain nuts and bolts
Bitcoin powered UBI: Here’s how Jack Dorsey plans to solve income inequality
The Top 3 Trends in Private Funds That Deal in Digital Assets - Blockworks
Why OpenSea’s NFT Marketplace Can't Win
African Web3 Startup Raises $6.45 Million in Pre-Seed Round, Serena Williams' Investment Firm Participates – Emerging Markets Bitcoin News - Bitcoin News
SPACs in freefall
Facebook - Out in the Cold
Death of a Duopoly: Why It’s Time to Reconsider the Facebook-Google Rivalry
Facebook’s Well is Finally Tapped Out
This Week in Venture
How Venture Capital Made the Modern World (with Sebastian Mallaby) - Azeem Azhar's Exponential View | Podcast on Spotify
The Future of Solo Capitalists
VC Valuations Climb Higher Still as Hedge Funds and Other Nontraditional Investors Pile In - Institutional Investor
Tiger Global Raises $11 Billion for Latest Private Fund - Bloomberg
Brave New Seed? How Fundraising Has Changed For Startups Since COVID
Future Returns: Family Offices Ride the Venture Capital Wave - Barron's
Blackrock CEO: The Energy Transition Will Create 1,000 Unicorns - Yahoo Finance
Sequoia’s invisible hand: How Roelof Botha became one of the most powerful people in venture capital - Protocol
Where Is China Investing? Communist Leaders Are Becoming Venture Capitalists - Bloomberg
Fintech Boom
African tech start-up funding skyrockets, with fintech a big winner - CIO
UK fintech investment soars to $37.3 billion in 2021 - Finextra
Startup of the Week
Tweet of the Week
Jarrid Tingle
We raised $174 million in 3 years for Harlem Capital.

We started with no prior VC experience and a strategy many questioned.

Here’s thread on what limited partners (LPs) are looking for when they invest in a VC fund 📝
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That Was The Week is a editorialized and curated weekly look at developments in tech, startups and investing

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Keith Teare, Palo Alto, California