Big Money Bear Market: $4.5 billion, $70 million, $1 million • CEO Letter #49

Taylor Culbertson -

‘Sup kiddos. As you read this, I am frolicking at Consensus 2022, CoinDesk’s big crypto conference / festival in Austin TX. Don’t get too excited, here the word “frolicking” means “prospecting for customers and product feedback.” You know what they say though, “When in Texas, Buy Bitcoin” 🤠

Before I forget, let me remind you: This is Taylor, CEO of Hedgehog, where you can track everything, trade everything, and sternly scold any crypto-coins that are misbehaving. If you want a full view of your portfolio plus full control of your crypto future, well, same. That’s why we’re here and why we’re building Hedgehog.

Anyway, I hope you caught my talk, and I hope that I was very clever and charming and made all the panelists look like geniuses. (They might actually be geniuses, so I think this goal is achievable.) You should be able to see the video from the livestream here, but if that doesn’t work I’ll share a YouTube link or whatever later.

Don’t forget, there’s a giveaway at the end of every newsletter. Do you want a Ledger Nano S hardware wallet to keep your HODLings extra-SAFU? Just answer my weekly question and you’ll get a chance to win it!

The Securities and Exchange Commission is NOT A FAN of meme-based investments and wants to spread that message. The powerful regulatory body decided to advise retail investors to steer clear… in the form of parody gameshow videos?

No, seriously, the Investomania series has four installments, all with an SNL-ish vibe:

On the one hand, yes, be cautious and do your research. That’s good advice. On the other hand, like, what on earth?

Tldr: I love getting my official government-endorsed regulatory guidance in the form of meme-based parody videos.

Regardless of the bear market, renowned VC firm Andreessen Horowitz (often shortened to A16Z) is doubling down on crypto:

Neumann’s startup Flowcarbon, focused on combating climate change, apparently raised $70 million “for a private token sale led by a16z crypto.” It’s intriguing that Neumann gets another bite at the apple, with significant institutional backing, despite having publicly embarrassed SoftBank, his previous top backer.

Much like memecoins, A16Z’s willingness to invest in Neumann demonstrates the economic pull of a talented hypeman with a track record. To be clear, I’m not saying that he’s a scammer, nor am I saying that he isn’t — I don’t know the guy and didn’t follow the WeWork drama particularly closely. What I am saying is that the ability to attract attention is, in and of itself, mind-bogglingly valuable.

Also, this part is fun: “Neumann’s company wants to put this market on the (proof-of-stake) Celo blockchain. Its ‘Goddess Nature Token’ (GNT) is backed by carbon credits certified by Verra, one of the four market-recognized registries.”

Tldr: If we ever decide that Hedgehog needs a token, Divine Quill Emperor (DQE) seems like a good ticker symbol. Or perhaps the Spirit of Spiny Spears, for the alliteration? Heavenly Hog? Suggestions welcome.

No DAO is guaranteed to work… but every DAO is guaranteed to be work:

The complexities of coordination, collaboration and co-creation are so multi-faceted, multi-layered and multi-coloured that they are as beautiful as they are infuriating. Evolving DAOs feels like building a house on quicksand. During an earthquake. In the rain. It's all about balance. It’s an extreme exercise in balance above everything else.

Interesting reflections on crypto community governance.

Tldr: As a startup founder, I find the notion of building a house on quicksand while there’s an earthquake and pouring rain to be pretty… relatable? Lol. Sounds like an exhilarating engineering challenge 😎

The Hedgeblog is hoppin’:

Tldr: If crypto is a giant chaotic city, Hedgehog is tryna be the tour guide who shows you the best spots and tips so you don’t get mugged. Heck, nobody working at Hedgehog wants to get mugged either! Comparing notes helps keep us all safer.

Giveaway time, ayyyy. We’re this close to newsletter #50, what a milestone! What should I do to celebrate? Reply to this email with an idea and you’ll be entered in the drawing for a Ledger Nano S hardware wallet.

When in Texas, wear a big belt buckle,
— Taylor

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