Tim and Kris talk about how hard it is to run a business in the Web3 world when the market is not doing well. They discuss why many risky projects are failing, but safer ones like Ethereum are doing okay. Tim shares how important it is to build a strong business, even when times are tough, and not rely on getting money from investors.
They also talk about media companies and how some lose their integrity when they take money from big investors. Kris and Tim both agree that working closely with their community is the best way to build something that lasts.
Actionable Takeaways for Founders
Focus on What’s Most Important: If times are tough, focus on making sure your product or service works well and helps people.
Grow with Your Community: Build your business by working with your community. Listen to what they need and make your product better for them.
Be Smart with Your Money: If money is tight, think carefully about how you spend it. Ask yourself if every decision is really needed right now.
Think Long-Term: Don’t just focus on growing fast. Sometimes, taking your time and making smaller but safer decisions can help your business last longer.
Key Discussion Points
Tough Market for Risky Projects: Tim explains that many risky Web3 projects are being sold off, but big projects like Ethereum are doing better. It's important to focus on building a strong, simple business during these times.
Building a Strong Business: Tim and Kris agree that this is a great time to focus on making your business strong and useful instead of trying to grow fast with risky ideas.
Should You Avoid Investors?: They talk about why it’s better to build your business without taking money from big investors. Tim says that if you rely on investors, you lose some control over what your company does. Kiwi News is a good example of a business that works for its users, not investors.
Keeping Media Honest: Kris points out that when media companies take money from investors, they sometimes lose their honesty. They both agree that Web3 media has a chance to be more truthful and serve the community better.
Challenges of Building Without Investors: Tim shares how hard it is to build a business without a lot of money. But he also says that it makes you better at running a business because you have to focus on what’s most important.
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