Key Points Discussed:
Background and Early Entrepreneurial Spirit:
- Gerald's unique IBM background and diverse entrepreneurial journey.
- Discussion on being unemployable and the path to starting one's own business.
- Gerald's family background of entrepreneurship and lessons learned.
Ventures and Challenges:
- Overview of businesses acquired by Amazon and involvement in the tech industry.
- Gerald's experience in solving problems with models and model management, as well as investing in crypto.
- The challenges of being an entrepreneur, going against the mainstream, and navigating societal expectations.
Early Entrepreneurial Influences:
- The influence of Gerald's father, an antique dealer, and grandfather, both entrepreneurs.
- Exploring the restlessness in school and the desire to start something of his own.
First Venture and Lessons Learned:
- Gerald's initial business venture after graduation and working in a large corporation.
- Challenges faced, including a potential financing round falling through.
- The importance of realizing that a deal isn't signed until the money is in the bank.
Shift to Tech and Marketplace Focus:
- Transitioning to the tech space and involvement in knowledge management.
- The appeal of two-sided marketplaces and Gerald's focus on marketplace businesses.
- Challenges and successes in managing two-sided marketplaces.
Acquisition by Amazon:
- The founding of "buy v i p," a fashion club, and its acquisition by Amazon in 2010.
- The decision-making process behind the acquisition and the challenges faced.
- Gerald's departure and reflections on the experience.
Investment Phase and Transition:
- Gerald's foray into the investment side and the challenges faced as an investor.
- The excitement of being an entrepreneur versus the complexities of being an investor.
- Insights into business angel investing and the decision to focus more on personal ventures.
Blockchain "Ah-ha" Moment:
- Gerald discusses the pivotal moment when individuals recognize the potential of blockchain technology. This often occurs when someone has an entrepreneurial drive, engaging in activities like selling baseball cards or washing cars in their youth.
Initial Skepticism:
- Gerald shares a personal experience of initially dismissing blockchain, recounting an incident at a conference where a person in a golden suit with pistols shooting out dollar notes presented Bitcoin. He initially found it unappealing and remained focused on enabling women to start sustainable businesses in a different sector.
Revisiting Blockchain:
- In 2018-2019, after selling a previous business, Gerald reevaluates blockchain as his co-founder suggests looking into it again. He becomes an advisor for a blockchain, Web3, and NFT-focused project. Witnessing a million-dollar NFT sale in 60 seconds, he realizes the significant shift happening in the industry.
Tectonic Shift and Decentralization:
- Gerald expresses his realization that blockchain represents a tectonic shift, comparable to the advent of smartphones and the internet. He highlights the decentralization of data and the creation of a new monetary system within the industry.
Challenges in the Current System:
- Gerald critiques the dominance of major tech companies (Google, Apple, Amazon) in owning and controlling vast amounts of user data. He believes this system is flawed, and the motivation within the blockchain space is set to bring about significant changes in how companies operate and ownership is perceived.
Web3's Spirit of Innovation:
- Gerald appreciates the entrepreneurial spirit in the Web3 space, where people are excited to explore possibilities. He acknowledges that while many ventures may fail, the potential for groundbreaking innovations is limitless.
Novelty of Business Models:
- Both speakers discuss the novelty of business models enabled by Web3 technology. They particularly emphasize the impact of NFTs and the intersection of creativity and technology in this space.
Introduction to EtherMail:
- The conversation shifts to EtherMail, and Gerald explains how the idea originated from challenges in managing communication within communities formed around NFT and token projects on platforms like Discord and Telegram.
Web3 Email Innovation:
- Gerald elaborates on the innovation behind Web3 email, emphasizing its integration with wallet addresses. He envisions email as a bridge between Web2 and Web3, potentially onboarding billions of users into the Web3 world.
Challenges of Growth:
- Gerald discusses the challenges faced during EtherMail's rapid growth, highlighting the need to scale systems and manage increasing traffic. The team is working to onboard more people and navigate the multitude of opportunities available.
Communication Marketplace and Token Rewards:
- EtherMail introduces a communication marketplace with its own communication currency, enabling users to control the level of information shared. Companies can target users based on preferences and reward them with tokens for their attention.
Privacy and User Choice:
- Gerald emphasizes the importance of privacy and user choice, allowing individuals to decide the extent to which they share information. Users can define the categories they are open to and set values for the information they wish to receive.
Upcoming Challenges and Token Launch:
- The near future holds challenges related to company growth and the planned token launch. EtherMail aims to play a leading role in defining communication in the Web3 space and considers strategic partnerships or acquisitions.
Links:
Ethermail
OVERNIGHT SUCCESS
PRESENTED BY DRAPER UNIVERSITY
HOSTED BY CHRIS JOANNOU
