Joey Rosati

Firebird Protocol: A Game-Changer for Coin Valuation This document explains why the Firebird Protocol MVP can increase the meme-coin prices through its mechanism. (We use a meme-coin as an example, but the protocol will be used for all SPL coins.) 1. The Experiment 1) We want to test our Defi protocol, the Firebird protocol, to see if it could effectively increase the price of a coin.  2) This experiment needs a volunteer meme-coin team and our protocol MVP. 2. What is the process of this experiment? 1) The meme-coin team will create a new meme-coin on “pump.fun” and buy 50% of its supply.  2) The meme-coin team will deposit the 50% into our protocol without a withdrawal function.  3) Our protocol will divide the 50% into 100 pieces to sell DCA for the SOL in 100 days.  4) Our protocol will record the price when the piece was sold for SOL and set a limit order at a lower price to buy back the meme-coin. For example: On day 1, if the piece of the meme-coin was sold at the price of 1 (meme-coin/SOL), the protocol would set a limit order at the price of 0.5 to buy back the meme-coin. (If the price never drops to 0.5, the limit order will be on the DEX permanently.) 5) If the buy limit order at 0.5 is filled, the protocol will immediately burn the bought meme-coin tokens. 3. Traditional meme-coin vs. This meme-coin 1) Selling pressure:  The traditional meme-coins: 100% of the meme-coin will be sold on day 1.  This meme-coin: 50% will be sold on day 1, and the rest will be sold over 100 days by the Firebird Protocol. 2) Public goods: The traditional meme-coins: No public goods, meaning everyone will ultimately dump the meme-coin.  This meme-coin: The SOL that equals half FDV of the meme-coin serves as a public good, will be used to repurchase the meme-coin and burn it. To summarize, compared to existing tokenomics, this new meme-coin can protect investors and degens through its mechanism. The essence of this protocol is that an onchain protocol is more transparent and reliable than any human. 4. Why we do this experiment  To be clear, the Firebird protocol is not only for meme-coins but also will work for any SPL tokens. Doing this experiment with a meme-coin is because any serious project would not sacrifice 50% of its token supply, so we look for a meme-coin to prove the usage of our protocol. 5. Contacts 1. Telegram group(private): https://lnkd.in/gYBji4PA 2. X Twitter: http://x.com/firebird_so

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Nike is blogging about how their digital collectibles won't require a wallet, cryptocurrency, or blockchain. They quietly closed RTFKT and are now putting out .Swoosh content without any cumbersome blockchain crap. So let's pour one out and continue to piss on the grave of the dead 'web3' movement that got EVERYTHING wrong about digital collection. Don't worry most of the 'web3' folks have rebranded to 'Gen' AI and now love the Cloud. And Games continue to lead with digital inventory because we have functional uses for it... IN GAME. ---- Jan 12, 2024: "An Update on the Future of .SWOOSH" "In 2023, we’ve learned so much about virtual products, co-creation, and self-expression. We hosted community learning workshops in over 10 cities, launched a signature collection, debuted “Airphoria”, our first game world in Fortnite, and invited fans to unlock physical sneakers tied to virtual products." "We also confirmed that a virtual product’s value should be based on the enjoyment it gives you when using it to express yourself or unlocking access to physical product. It’s more about the joy of collecting — of being a true fan — not just a transaction. In the next year, you’ll see this come to life as we launch more variations of virtual products that expand your love of self-expression. We’ll go way deeper into video gaming with the launch of a new line of virtual products — Nike In-Game Wearables. In-Game Wearables are different than our digital collectibles because you can purchase and wear these collections directly in your favorite video games. You’ll also be able to unlock exclusive physical apparel and footwear in the real world based on the in-game wearables you purchased. You won’t need a wallet to store any of these new products — you’ll just link your game accounts to Nike. More on that later." (keep reading) Nike .Swoosh Blog: https://lnkd.in/gFDMUvuw ----  APR 15, 2024 (Richard Lawler): The Verge: "Nike’s 404 Error Air Force 1 arrives on April 23rd.Despite being a .Swoosh-exclusive this BSOD-themed shoe doesn’t have any NFT links or crypto wallet requirements (although you will need to register an account by April 18th). Nike’s web3 plans for .Swoosh seem mostly dead, with a January blog post saying digital gaming item tie-ins will skip the blockchain and instead just link to Nike accounts." TheVerge: https://lnkd.in/geJvzNTR ---- Nike .Swoosh and the 404 error shoes that no longer use anything 'web3'. https://www.swoosh.nike/ ---- Back in 2022 Nike wanted .Swoosh to mean something schmetaverse. That lasted for a year: Nov 14, 2022: The Verge: "Nike is still trying to make NFTs happen with .Swoosh/ The company’s launching .Swoosh, a Web3 platform that will eventually let users buy, sell, and trade virtual shoes and apparel." The Verge: https://lnkd.in/gGfA4Fsx ---- Mar 18, 2024: "Nike to shut down RTFKT this year following acquisition in 2021" Twitter: https://lnkd.in/gUGPstXB #schmetaverse #web3 #webisajoke

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Don't stop marketing your app... The BIGGEST mistake that app owners make when trying to sell their app is "banking" on actually selling it. Continue growing your app while you... - List your app for sale - Have an LOI in place - During the due diligence Don't stop marketing it until the transfer is complete and the MONEY is in the bank. Charlie Ryan put together this list of the BIGGEST mistakes by app owners while trying to sell their app. Video clip in the first comment.

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Don’t discount your product before selling your business. Launching a massive sale of annual plans is tempting. Big sale = revenue bump = inflated valuation. But buyers see through this and either:  • Add a discount based on recent months  • Don’t touch the business. If it’s something like Black Friday, that’s okay... but it's best to avoid discounts altogether when prepping for a sale. #acquisitions #SaaS #founders

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This week on Clouded Judgement: Is Software Cheap? - Median software multiple: 6.4x - High Growth software median: 10.0x - Mid Growth software median: 11.6x - Low Growth software median: 4.6x - 10Y: 4.2% https://lnkd.in/gyxzHJyv

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Please... if you’re selling a business, don’t do this. A founder wanted to maximize the sale of his business. He came up with a plan: - Slash marketing & R&D team - Inflate recurring revenue by discounting their annual plan This is a bad plan. Buyers will see right through this with a little due diligence. Instead, do this: - Reduce churn rate - Document & automate operations - Make the business work without you - Clean up your books and records There are concrete steps to make your business worth more at sale. But *hacking* your valuation will hurt you later. #acquisitions #founders #saas

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App roll up company Carbon6 gets acquired for $210m. 4x ARR. This might not as great an outcome as it originally looks. They raised over $75m from investors. Plus likely took on quite of lot of debt when making the acquisitions.

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😱Pretty worrisome for founders, but great news for VCs😎 Fewer startups equate to less work, fewer intro calls, fewer funding opportunities, fewer bad decisions... Where next? #VentureCapital #VentureFunding #VentureDebt #Fundraising #Innovation #Technology #Entrepreneurship #Investing #Network #Investors #LPs #GPs #EmergingManagers #FamilyOffice #Markets #Economy #Business #Founders #Startups #StartupFunding #ai #artificialintelligence #unicorn #secondaries #secondarydeals

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Complete the series... 1. Dotcom 2. Subprime mortgage 3. Crypto 4. NFT / Web3 5. ___________? . . . . . . . It is important for one to know well about themselves and looks like the no. 5 knows it.

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I talked with 13 founders ranging from $2m/yr up to $90m/yr and they are all worried about the same thing: Rising customer acquisition costs (CAC). Unfortunately, the numbers don’t lie. Since 2014, CACs have skyrocketed by 222%. Whether you like it or not, this is the reality you need to overcome in 2025:   - It’s 4-5x more expensive to acquire new customers than retain existing ones - Marketing costs continue to climb in competitive digital spaces - Traditional advertising channels showing diminishing returns - Increased competition driving up bid costs on digital platforms How are these founders battling against rising CACs? The name of the game here is retention. Specifically around increasing lifetime value (LTV) by solving involuntary churn caused by failed payments. When a payment fails and leads to customer churn, companies face: 1) Lost immediate revenue from the failed payment 2) Lost future revenue from that customer's lifetime value 3) Additional marketing spend needed to replace the lost customer 4) Higher overall CAC due to constant replacement of churned customers Example: A customer with $150 monthly subscription churns after a failed payment: Normal LTV of 12 months  12 months * $150 = $1,800 in lost revenue (for a single customer) The founders I talked to are focusing on failed payment recovery because: 1) It preserves existing customer relationships 2) It maintains steady revenue streams 3) It reduces pressure on acquisition spending 4) It improves overall customer lifetime value 5) It allows marketing budgets to focus on growth rather than replacement This is a key area where these founders think differently: They know chasing new customers while bleeding existing ones through failed payments is like trying to fill a bucket with a hole in it. Here's the flywheel they understand that others miss: 1) Every saved customer is one you don't need to replace 2) Lower replacement costs = more money for actual growth 3) More money for growth = ability to outspend competition 4) Ability to outspend = faster growth 5) Back to step 1 While others are throwing money at rising CAC, they're focused on plugging the leaks first. And it’s working for them. Investing in payment recovery typically delivers: - Improved LTV:CAC ratios - 5-10%+ increase in top-line ARR - Compounding growth month over month The truth is, acquisition costs aren't going down anytime soon. Businesses that invest in failed payment recovery are going to be able to outcompete those that only focus on acquisition. Because in today's hyper competitive landscape, letting perfectly good customers slip away due to failed payments isn't just leaving money on the table... It's actively sabotaging your growth.

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You just got a $85,215 tax bill from Delaware and are freaking out. Don’t. This is a rite of passage for startup founders. You likely only owe $450 + $400 per $1m in assets that you have. The short of it is: Delaware has two methods for calculating the franchise tax. • The “authorized shares” method (where the tax is based on the total number of shares), and • The “assumed par value” method The authorized shares method is Delaware’s default and leads to a bit of a heart attack because you’ve probably authorized something like 10 million shares. The assumed par value method is almost always more advantageous to startups, but it requires knowing your gross assets as of 12/31. So just put that in, take a deep breath, click “Recalculate”, and you’ll see a much more reasonable number. Speaking of DE Franchise Tax: I generally don’t recommend paying anyone to do this for you—the filing is quite straightforward, and I’ve included a link to our DIY guide for it in the comments. (If you really want someone to take care of it, we’ll literally do it for you for free, even if you’re not a Pilot customer.)

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Finding a great name can be tough. This business turned names into an 8-figure exit💰   Here’s how they did it: The business was a name generator & domain marketplace.  Founders could find a company name & purchase the domain on one platform. Investors loved the business:  ↳ Healthy margins: $4M+ in profits. $100K to run  ↳10+ years old  ↳135M page views/year  ↳ Lucrative partnerships with domain vendors    The buyer?  A similar business in a different niche expanding into B2B.  There’s power in a name – in this case, 8-figures. 

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Today's Boring Biz (# 129): 12 Year Bike + Segway Rental Tours - $330K Cashflow - Florida Seller Listed Structure - $1.1M Revenue - $330K Cashflow - $1.3M Ask Price - 3.9x Cashflow Multiple What does the company do? 1. Duel location packaged sale 2. Segway and bike tours + Rentals 3. Tandem + electric bikes, beach cruisers, roller blades Investment highlights 1. Located in high traffic Miami Beach location 2. Includes significant Assets $525K 3. Former "Travelers' Choice" award by TripAdvisor Investment risks/concerns 1. Competition from nearby rental companies 2. Seasonal fluctuations in summer months 3. Customer acquisition strategy + CAC Why: How to buy a small business? Note: Not our listing, highlighting this business for informational purposes only. For those who are looking to buy a first small business or better understand high-level math/ framework of how to analyze a small business for sale. #SMB #ETA #finance #Cashflow #investing #search #searchfund #privateequity #microprivateequity #smallbusiness #venturecapital #vc #entrepreneur #business #businessowner #bikerental #segway #tours #florida Disclaimer: Hypothetical and illustrative only. Please do your own research (DYOR) or work with tax and legal professionals before making a decision. This video are intended for informational purposes only and does not constitute legal or tax advice, nor should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by SMB PE LLC or any third party.

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Jesse Pollak says regulatory clarity could help builders spend more time and money building rather than spending more time and money on lawyers.

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SEC is Sending Crypto Businesses Packing to the Cayman Islands The SEC has done more to drive crypto innovation out of the U.S. than to foster it. By clinging to an enforcement-first, rulebook-later strategy, Gensler has effectively told crypto entrepreneurs: “We don’t want you here.” And guess who’s winning because of it? The Cayman Islands, BVI, and every other jurisdiction with light-touch regulation. 🔹 Fake Oversight, Real Damage: By refusing to clarify crypto rules, the SEC has turned innovation into a guessing game. Offshore hubs, meanwhile, are thriving by offering clarity and stability. The U.S. doesn’t need to reinvent the wheel—just look at what’s working elsewhere. 🔹 New Leadership, New Opportunity: With Gensler out and Paul Atkins stepping in, the U.S. has a real shot at change. The question is whether the new administration will embrace a business-first, innovation-friendly regulatory approach. 🔹 Coinbase’s Fight Is Everyone’s Fight: Coinbase’s legal wins are exposing what everyone in the industry already knows: enforcement without clear policy is unsustainable. It’s time to move beyond fines and lawsuits to create a framework that actually works. 💬 My Take? The U.S. is at a crossroads. Either it adjusts to clear, light regulation and reclaims its role as a leader in crypto innovation—or it risks falling further behind as businesses seek opportunities offshore. Enflux is betting on the U.S. getting this right - hopefully we set up a US office in 2025 with clear ground rules. Hopefully... #CryptoRegulation #Coinbase #Enflux #LightRegulation #CaymanIslands #InnovationVsRegulation

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Plaid did $300m + in revenue and has a $3.8B market cap according to Caplight. I'm sure ApeVue has an opinion on valuation. If Plaid is worth $3.8B+ what does that mean for Envestnet | Yodlee if spun off from Envestnet? Can they reach that type of valuation? If Plaid is setting the bar at $3.8B, down from their 2021 round at $13B+, it makes you wonder what their potential IPO looks like. Their new product, Layer, which speeds up the process for consumers who have previously linked an account, is their fastest-growing product in their history. The question is, can they continue to innovate and at the same time solve the frustration that many of their clients have with their core product offering. More here: https://lnkd.in/gwV3_cmk

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If you've ever sent stablecoins, you've had a conversation like this... Them: “Can you send $200?” You: “USDT okay?” Them: “No, USDC please! 🙏" You: "Ugh gotta swap funds. On Solana, right?" Them: “NO!! I only have a Base wallet! 😰” ... and so on... 🙄 Swapping, bridging, and double-checking wallet addresses – it’s frustrating, time-consuming, and error-prone. 😩 That’s why Reveel is building Pay(ID) – a universal stablecoin ID that can receive any stablecoin from any chain. No more back-and-forth, just Tag & Send. 🤯 And the demand speaks for itself: in under 2 weeks, over 100k users have joined the Pay(ID) waitlist. 🔥 The world is ready for better stablecoin payments – are you? 🚀 Link in comments 👇

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If you've ever sent stablecoins you've had a conversation like this... Them: “Can you send $200?” You: “USDT okay?” Them: “No, USDC please! 🙏" You: "Ugh gotta swap funds. On Solana, right?" Them: “NO!! I only have a Base wallet! 😰” ... and so on... 🙄 Swapping, bridging, and double-checking wallet addresses – it’s frustrating, time-consuming, and error-prone. 😩 That’s why Reveel is building Pay(ID) – a universal stablecoin ID that can receive any stablecoin from any chain. No more back-and-forth, just Tag & Send. 🤯 And the demand speaks for itself: in under 2 weeks, over 100k users have joined the Pay(ID) waitlist. 🔥 The world is ready for better stablecoin payments – are you? 🚀 Link in comments 👇

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