Einstein: Master of Simplicity, Facebook's Renaming, CRED & More
This week is about Simplifying things: Creator Economy, Facebook's latest move, & our take on CRED
Einstein was a master of Simplicity, not Complexity
Yes, we are talking about the same Albert Einstein who developed the Theory of Relativity and navigated the complexity of the Theory of Quantum Mechanics!
Shane Parrish covers the concept of simplicity with Einstein’s example to put across one point, “Knowing what to ignore is the highest level of mastery.“
He makes the point that Einstein was a genius, but not at mathematics but it “was the ability to sift the essential from the inessential — to grasp simplicity when everyone else was lost in the clutter.“
Duration: 4 min read
Link: bit.ly/curio-revelio-2Z8PT40
Creator Economy 101
If you have been looking for a single source to explain all the new buzzwords - NFT, DeFi, Creator Economy, Ownership Economy, DAOs- well today’s your lucky day!
This hour long but fun talk between Jesse Walden, Li Jin, Cooper Turley on the Bankless podcast is the Creator Economy 101 lecture you were looking for. They cover:
What is the Creator Economy?
Evolving Creator and Community
Creator First vs. Platforms
The Internet Dream vs. The American Dream
Evolving Platforms aka Future of Facebook
Sovereign Creation
DAOs and the Creator Economy
Creator Economy Platforms
Duration: 1 hour listen
Link: bit.ly/curio-revelio-3G3pgP8
Facebook’s getting a new name, but losing it legitimacy
Facebook is expected to announce a new name (Alphabet-Google style) sometime soon in line with its focus on the “metaverse“ (Yes, another hot buzzword!). But many, like me, believe this is not enough.
Facebook was among the first social media platforms and has amassed over 2.85 billion users, but over the years it lost its way and now is turning into a graveyard.
What went wrong?
In this article, Li Jin covers the topic of platform economy, how and why the platforms lost legitimacy in the creators eyes.
Read on to know about:
What is legitimacy, and where does it come from?
How the platforms gained legitimacy—and then lost it
How the legitimacy crisis in the creator economy ends
Ownership and portability of data
Decentralized building via open-source development
Participatory decision-making and cooperative business models
Future for the platform economy
Duration: 15 min read
Link: bit.ly/curio-revelio-3B2CKa0
Idea Validation Report: CRED
This week we deep dive into CRED and it’s unique model.
CRED recently raised a new funding round and nearly doubled its valuation to $4bn in less than 10 months!
Many seemed surprised by such a high valuation, but if you try to understand their goal closely it makes sense!
CRED says only users with 750+ credit score can use the app, and they already have 7.5 million users. India has 25 million credit card users currently, that itself gives CRED a 3X potential!
Now if going forward CRED relaxes this number to 720 credit score and moves beyond just credit card holders its potential market size becomes 114 million. That's right, a 15X potential in market size!
And these aren't just any kind of users, these are high credit worth, high LTV users!
So wait, CRED is acquiring high credit, high LTV users but what problem are they solving? Credit card payments?
I say CRED will solve any problem for these high LTV users! And the initial signs are there with CRED's RentPay, CRED Stash, CRED Store and Travel as well!
So, in short, What is CRED doing?
It is basically acquiring all high LTV customers, and it will keep solving their problems with repeat use cases. So any company that wants to acquire these high LTV users will come to CRED and pay them a small % vs. spending millions on running ads and acquiring a mix of customers.
Presenting our Advanced Idea Validation Report on CRED evaluated with our proprietary Idea Validation Tool:
Check out last week’s edition
We talked about:
Creator Economy and the Labor challenge
Web 3.0 and why it matters…
Prioritize User Happiness
Startup Idea Validation Case Study: Dunzo