Hello!
This week, I will focus on a discussion I had with a friend about an interesting idea. I really enjoyed the talk, and I guess you might too since it covers a very common pitfall in starting a startup. I hope you enjoy it. Don’t forget to subscribe!
Startups
Let me introduce you to Mohammad Rafigh. He’s a great software engineer and a very talented musician and he’s one of my very close friends. Be sure to check out his work, especially the music and you’ll be amazed. Enjoy his latest track.
Anyway, I had an interesting chat with him last week about an idea he has that might be worth pursuing. To be honest, I didn’t fully understand all the tech—mostly web3 stuff—behind the idea but the gist was to create a decentralized platform for artists of any kind to share their work with their audience and provide a payment and/or donation system (via some black magic blockchain stuff) that would send most of the revenue toward the artist.
We talked about it for a while trying to look at it from different angles and figuring out what’s going on here. We covered how the big platforms don’t do good for small indie artists. We looked at Patreon as an alternative solution and its shortcomings. Please bear in mind that we talked for about two hours so the story might feel incomplete as I’m just trying to emphasize a single point here.
You as an indie artist don’t see any good way to show off your work directly to your audience and earn some money for your hard work without the platform getting a huge chunk of it. Is that right?
I asked Mohammad to see if I understood what he was trying to solve. So I advised him to start thinking about this as a problem to solve and stick with the problem rather than focusing on a solution that might not fit its underlying problem. I truly believe that this is THE WAY to do it.
You must be obsessed with solving rather than a solution.
He’s now going to think about this and I hope he’ll succeed in finding a way to solve a problem I know he cares about deeply and I’ll keep you posted when I get an update from him.
If you also have an idea and/or want to start a startup but don’t know where to start, I would be super excited to hear from you. And I hope I can help you figure out your first steps so don’t hesitate to contact me.
Investment
I’m no market expert here but I think it’s kinda normal to see a dump close to the end of the year (probably crazy rich people rebalancing their portfolios and liquidating to have some fun during the holidays) but again I have no idea if this is true or not. It’s just my speculation.
The NASDAQ 100 was down by -2.25% and OMX 30 by -3.20%. Fortunately, I was up 1.35% since BioArctic’s price jumped ~24% this week due to a piece of good news being reported.
A few weeks ago I talked about BioArctic and my analysis in detail on my private Telegram channel focusing on my financial journey (some of you may have already subscribed). If you’ve missed this let me know and I’d be glad to share it with you.
I’m also considering creating a video version and posting it to YouTube. What do you think? Tell me in the comments.
Fear NOT,
Mehdi K.
P.S. Can I ask you for ten seconds of your time?
Five seconds to think about ONE person you think might enjoy this post. And five seconds to share it with them :)
Good catch, thanks for covering this.
Hightly agree... I had a similar experience about four years ago. A friend and I had the same idea—the technology seemed incredible and highly innovative, but it ultimately failed because it solved no real problem.