Treasury Function in Web3

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

Web3 brings a new function the startup must manage: the treasury.

The treasury function exists in the Web2 world but typically has no impact until later in the life of the startup.

For the Web3 company, the treasury has an important role from day one.

The Web3 world introduces the concept of the token which provides value to the members of the startup.

Those holding tokens have the option of converting those tokens into dollars.

The treasury must be able to handle the conversion to fiat currency.

There are also tax implications with tokens.

Using tokens as incentives for sales and other activities triggers taxable events.

Tokens can fluctuate in price dramatically.

As tokens rise, it increases in value to the holder.

As tokens fall, it decreases.

Taxable events must be paid regardless of the current value of the token.

Tokens bring a new level of complexity to the startup which must be managed early on.

Consider how to handle the treasury function for your startup.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

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On this episode of Investor Connect, Hall welcomes Mike Partsch, Chief Venture Officer at the Wisconsin Alumni Research Foundation (WARF). Located in Madison, Wisconsin, WARF serves as the designated tech transfer office for the University of Wisconsin-Madison. For nearly a century, WARF has played a crucial role in advancing groundbreaking discoveries from the university's research labs to commercial markets. They manage the intellectual property generated by university researchers, license it to various industries, and allocate royalties back to the university to support ongoing research and innovation. With a strong commitment to fostering a collaborative ecosystem, WARF has successfully partnered with numerous startups, driving impactful advancements across various sectors.

Mike Partsch is a seasoned professional with a rich background in venture capital and entrepreneurship. Having spent years honing his skills in the startup landscape, he brings a wealth of knowledge and experience to WARF’s investment strategy. Mike’s journey led him to work closely with the university’s entrepreneurial community, identifying promising technologies ready for commercialization. His insights into building a robust portfolio of startups around health, wellness, and technology have positioned WARF as a leader in the field, particularly in the health care sector.

In this episode, Mike discusses the mission of WARF Ventures and its unique approach to investing in startups that stem from the University of Wisconsin-Madison. He shares how WARF's structure as a separate nonprofit organization allows for a more agile and focused investment strategy, enabling them to support early-stage companies effectively. Mike also highlights the importance of collaboration with entrepreneurs and other stakeholders to ensure that innovations can thrive and address significant challenges within the healthcare landscape. He emphasizes WARF’s commitment to wellness and preventative care, aiming to shift the conversation away from reactive healthcare solutions.

Visit WARF at www.warf.org, LinkedIn, and on Twitter. Reach out to Mike Partsch at https://www.linkedin.com/in/mikepartsch/ and on Twitter. You can also contact him via email at mpartsch@warf.org.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org

Check out our other podcasts here: https://investorconnect.org/
For Investors check out: https://tencapital.group/investor-landing/
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Difference Between Web2 and Web3

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

There are several differences between Web2 and Web3.

Web2 centralizes the control of information kept by gatekeepers while Web3 decentralizes control and removes the gatekeeper.

Web2 requires one to give their content and information to another entity, while Web3 lets the user maintain control of their content and information.

Web2 focuses on reading and writing content while Web3 focuses on creating content.

Web2 uses fiat currency such as the US dollar while Web3 uses cryptocurrency such as tokens.

Web2 uses JavaScript and HTML while Web3 uses open source blockchain technology.

Web2 stores data on centralized servers, while Web3 stores data in a distributed manner across the internet.

Web2 gave users access to the system through logins and passwords.

Web3 gives users access to the network through their own online wallets.

Web2 provides basic content while Web3 provides the semantic web using artificial intelligence and machine learning.

Web2 provides basic application to application communication while Web3 provides composability or the ability for one application to call another application.

Web3 continues to grow and evolve and holds the promise of creating a more democratic internet available to all.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org

Check out our other podcasts here: https://investorconnect.org/
For Investors check out: https://tencapital.group/investor-landing/
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Composability

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

Web 3 brings software composability to a new level.

Composability is the ability to select and combine components to meet specific requirements.

An example is the smart contract on the blockchain.

Any smart contract can call any other smart contract to execute it.

Web 3 uses open source components to build systems.

This allows the developer to use the tools and systems of others without having to reinvent them.

Some level of standardization must be applied to ensure the compatibility and reuse of modules and components.

This enables access to multiple applications and systems.

For example, one can cast a vote on a DAO, which triggers a token award and then deposits that token into a yield farming system to earn additional money.

Composability is the next generation of application software as it connects across company boundaries.

As we digitize more things to represent on the internet, the greater the opportunity for composability.

For example, an art object can be captured on the web as an NFT.

This NFT can now be used as part of a composable system.

Composability has been around for a long time and as Web3 brings new physical components online, the ability to combine each component into a new system is endless.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org

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For Investors check out: https://tencapital.group/investor-landing/
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Benefits of Web3

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

The next generation of the web, called Web3 seeks to decentralize the internet and give control back to the users.

This brings several benefits to content creators using the internet.

Here are some examples:

The current web lets anyone copy anything and share it with others.

This provides no compensation for the creators.

Web3 through NFT or non-fungible tokens prevents copying and distributing content and installs a payment mechanism for their work.

Web2 used the advertising model almost exclusively.

Web3 will enable other business models and will allow content creators to capture more of their share of the revenue.

New payment mechanisms will let content creators raise investment funding for their work rather than donations.

This provides a greater revenue opportunity for the content creator.

Tokenization lets every creator earn a share of the revenue unlike current ad models that reward only the most popular.

Finally, Web3 gives the user control of their data and content rather than the platform.

Content creators can move to other platforms and take their data with them.

This gives them the power to negotiate better terms and greater revenues.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org

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Web3 Innovations

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

Web 3 brings new innovations to the internet.

Here are some key innovations:

Web 3 uses blockchain technology which captures permanently all transactions and list of ownership available for all to access.

Web 2 had siloed records based on the platform or the company and only a limited number were able to access it.

This standalone record provides portability.

One's content, data, and identity are always accessible.

Web 3 provides a secondary monetary system called tokens which compensates users of the platform for their contributions.

This provides incentives to those building the system.

Web 3 brings increased interconnectivity of systems.

Web 2 systems had limited data exchange while Web 3 takes data and application exchange to the next level.

Web 3 reimagines the company as a group of people with a common cause rather than just a legal entity.

One can build a community using software to manage and execute the policies of the group.

Web 3 brings new innovations to software, entity formation, and connectivity.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org

Check out our other podcasts here: https://investorconnect.org/
For Investors check out: https://tencapital.group/investor-landing/
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What Is Web3?

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

The current internet is controlled by a few players with concentrated power over the users.

The next generation of the web, called Web3 seeks to decentralize the internet and give control back to the users.

Web3 promises to give creators a larger share of the revenue from their work.

It also promises to give users control back over their own data and content.

Web3 uses blockchain technology which enables decentralized control and removes the gatekeepers.

The current web lacks a layer for handling payment transactions.

Cryptocurrencies provide technical solutions to enable Web3 by providing tokens to incentivize users and compensate those who work on it.

Web3 brings a new approach to software that takes it to the next level.

It brings composability which lets one build new capabilities on existing software modules.

This speeds up the software development and increases the capabilities of the system as well.

Web3 also defines the interface between systems to enhance the exchange of data and interconnections among companies.

Web3 is the next generation of software.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org

Check out our other podcasts here: https://investorconnect.org/
For Investors check out: https://tencapital.group/investor-landing/
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On this episode of Investor Connect, Hall welcomes Matt Duomo, CEO and AI Strategy Expert at Fifth Advantage. Located in Austin, Texas, Fifth Advantage helps businesses become future-ready by leveraging AI and digital technologies to drive growth and efficiency. This innovative company is renowned for its "anti-consulting" approach, which focuses on delivering fast, actionable results that empower clients to thrive autonomously. With a team of experts known as the "Avengers of AI," Fifth Advantage emphasizes the collaboration and adaptation necessary for companies to navigate the rapidly evolving technological landscape and successfully implement AI strategies.

Matt Duomo has a rich background in technology, having worked with industry giants like Microsoft and Amazon. As a founding general manager of Amazon Web Services’ database division, he played a crucial role in developing products like Microsoft Dynamics and the speech infrastructure that became Cortana. Matt has a wealth of experience in leading projects to successful exits, including companies that achieved a combined $1.6 billion in exits. At Fifth Advantage, he is driven by a desire to provide guidance and support to businesses embracing AI during the dawn of the Fourth Industrial Revolution, aiming to empower organizations for autonomous growth and success.

In this episode, Matt shares his insights on the importance of understanding AI demands within businesses and how to deliver growth in a matter of weeks. He discusses the evolving landscape for family offices to invest in AI and the need for practical, value-based investments. Matt emphasizes a collaborative approach to working with clients, ensuring that they can navigate challenges and embrace opportunities in AI.

Matt delves into how both Jeff Bezos and Bill Gates have influenced his views on innovation and AI. He explains the necessity of working backward from the customer needs and setting realistic goals to ensure AI projects succeed. The conversation also covers how family offices are uniquely positioned to invest in AI, especially during a time when traditional venture capital models are changing. He underscores the importance of creating value, enhancing employee experiences, and leveraging AI as a tool for efficiency and innovation in business.

Visit Fifth Advantage at www.fifthvantage.com, LinkedIn, and on Twitter.
Reach out to Matt at matt.duomo@fifthvantage.com, LinkedIn, and on Twitter.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org

Check out our other podcasts here: https://investorconnect.org/
For Investors check out: https://tencapital.group/investor-landing/
For Startups check out: https://tencapital.group/company-landing/
For eGuides check out: https://tencapital.group/education/
For upcoming Events, check out https://tencapital.group/events/

For Feedback please contact info@tencapital.group

Please follow, share, and leave a review.

Music courtesy of Bensound.