VC and Grant Programs could present a suitable market for us
You can now also listen to this newsletter. Especially if you're into ASMR...
Hello everyone! To enhance our bi-weekly newsletter, I've decided to record them and slightly modify the format. The new structure will include external and internal observations, strategic assumptions, and decisions.
Gippity’s summary:
External Observations:
Venture Capital Trends: There's a noticeable trend across the startup scene, including Web2, where VCs show insufficient investment strategies. The entry bar for becoming/calling oneself a VC seems to be lowering regardless of the underlying technology.
Grant Program Challenges: Web3 Grant programs are struggling to effectively measure the impact of their grants, leading to untracked distribution of funds. Example discussion on Gitcoin forums.
Startup Risk Aversion: Many startups we work with are hesitant to commit to full sprints, preferring smaller projects instead.
VC Internal Challenges: Conversations with multiple VCs reveal that teams lack internal alignment on missions, clear responsibilities, and a research-driven approach to developing a core narrative, brand, and design. This is affecting their ability to create products and protocols that are understandable and usable.
Hiring Challenges in Startups: Startups are facing difficulties in their hiring processes, struggling to find and retain suitable talent. Even hired experts often lack long-term commitment to the projects, focusing more on monetary benefits.
Internal Observations at Deep Work:
Discord and Telegram Usage: Discord usage is low, likely due to the preference for individual, less visible Telegram group conversations. Work-related discussions are more convenient on Telegram.
Team Coordination and Accountability: People from various fields are showing more interest in pursuing personal projects but require assistance in team coordination and maintaining accountability.
Understanding Deep Work: Many still find it challenging to explain what Deep Work does, as observed in our event in Istanbul.
Audience Engagement: We're on track with our audience engagement strategy set in January 2023. We're connecting more with physical spaces like co-living and offices, emerging as potential audiences.
Target Audiences: Our prominent audiences include existing organizations wanting to improve their structure, startups, funds, DAOs, and startups in their portfolios, as well as ecosystems issuing grants.
Strategic Focus and Decisions:
Focus on VC and Grant Programs: In the coming weeks, my focus will be on exploring VC and grant program opportunities, particularly around EthDenver and user testing of Deep Teams.
Deep Teams Onboarding: We aim to onboard new teams onto our platform, which is still a work in progress. This will also help in understanding team onboarding processes.
Workshop Facilitation and Org Consultancy: Continuation of online and in-person workshops to evolve our organizational consultancy.
Deep Work's Mission Clarification: Efforts to make DeepWork's mission clearer are underway, built on quotes and testimonials from past clients. A one-pager is available for review.
Thank you for your continued support, let me know if you are interested in any of the above, and have a wonderful day. Bye!