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Week Ending 2021-04-18

You’re free when no one can buy your time.” - Shane Parrish

Fundings

Warsaw-based steaming sponsorships platform inSTREAMLY raises €1.1 million (tech.eu)

  • Wants to allow all streamers, regardless of size, access to brands to the ability to participate in and execute sponsorships.
  • The global live streaming market is currently valued at $70 billion and is predicted to rise to over $180 billion by 2027.
  • The industry average click-through rate for paid ads is 0.7%. A test of almost 1,000 streamers operating on the inSTREAMLY platform produced a rate of 4%
  • Opinion: Esports livestreaming is a big market to monetize and different companies come with various approaches and it will be interesting to see which one prevails. Currently all the leading startups raised just few millions dollars and few of those are from CEE, where is a great environment to start these companies and try to dominate the market.

Reading

Long feedback loops (ava.substack.com)

  • What everyone tells you: keep going. But it’s not so easy, because the progress is no longer linear. You’re no longer seeing improvement day by day or even week by week.
  • The more addicted you are to quick feedback, the harder it is to commit to things that require longer feedback loops.
  • At higher levels of skill, further progression depends on self-learning, on discovering or inventing new practices and knowledge. As skill increases, the gap between optimizing for metrics and optimizing for mastery widens.

How people get rich now (paulgraham.com)

  • In 1982 the most common source of wealth was inheritance. Of the 100 richest people, 60 inherited from an ancestor and most were made from real estate or oil & gas.
  • Of the 73 new fortunes in 2020, 56 derive from founders' or early employees' equity and 17 from managing investment funds. There were no fund managers among the 100 richest Americans in 1982.
  • The real question is why so few people had gotten rich from starting companies in 1982 - the major sectors of the economy were either organized as government-backed cartels or dominated by a few oligopolistic corporations.