Former early PayPal employee and team are building title services for crypto holder institutions. Pre-product, pre-revenue.
|1. Fundraising Target?||$1070000|
|2. Fundraised So Far?||$662220|
|3. Pre-Money Valuation?||$6000000|
|4. Previous Year's Annual Revenue||$0|
|5. Previous Year's Annual Net Income (+ Profitable, - Burning Cash)||~$0|
The 6 Calacanis Characteristics ("Sow Passion, Not easy mediocrity", or S2 P6 N18)
|1. A startup that is based in SV?||False: Manhattan Beach, CA|
|2. Has at least 2 founders?||True: Two|
|3. Has product in the market?||False: Only beta|
|4. 6 months of continuous user growth or 6 months of revenue?||False: Def no revenue|
|5. Notable investors?||True: Founders Fund & Peter Thiel?? Also 500 Startups|
|6. Post-funding, will have 18 months of runway?||True: I mean, $0*18=$0|
|1. Engineering?||1||Product doesn't exist yet|
|2. Timing?||2||Timing could be right, as crypto as surged recently as this writing|
|3. Monopoly?||1||No revenue and only 4 firms using it|
|4. People?||3||People are strong, but notably, no founding CTO for a crypto based tech company|
|5. Distribution?||3||Via PayPal mafia connections, definitely can be introduced to right people at firms|
|6. Durability?||3||Probably pretty heavily regulated firm so legislation as a moat|
|7. Secret?||2||Investment funds that need to have crypto title services will need a tech startup like Transitnet to help them solve regulatory burden|
What has to go right for the startup to return money on investment:
1. Develop product; 2. Monetize product; 3. Scale product into compliance platform
What the Risks Are
1. Does the market exist; 2. Can the product solve it; 3. Is Peter Thiel really invested in this company with $$$ vis a vis Facebook?
Bonus Muhan's Notes
Very cool. May have to check out the
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