6 must-watch talks and takeaways for early-stage crypto startups
As learners of all ages go back to school this week, we’re sharing some popular talks and conversations presented at a16z Crypto Startup Accelerator (CSX). Themes range from company building to tech trends, as presented by the a16z crypto team and other experts across the industry.
Meanwhile, a new cohort of CSX is just around the corner as 21 teams gather in New York to kick off 8 weeks of curriculum, collaboration, and bespoke mentorship while developing their products and refining product-market fit. You can find even more talks from CSX on our YouTube channel; while the real magic happens in person, these videos are a great place to brush up on company building fundamentals.
Not included on this list: our very relevant talks on tokens, which you can find on YouTube and as part of our token playbook.
1. What’s different about web3 go-to-market motions — plus, a primer on messaging
The takeaway: Web3 companies have a different menu of go-to-market motions than traditional companies — but there is much to learn from successful web2 strategies, like having a boilerplate to meticulously segmenting customers to crafting a compelling story. And as it is in web3, the most dire fail state startups can face is the “blank stare” moment — founders should be able to clearly articulate the mission and vision for their work.
Overview: In this talk, Maggie Hsu (Head of Go-to-market at a16z crypto, formerly AWS, AirSwap, Zappos) and Pyrs Carvolth (go-to-market partner at a16z crypto; formerly Draft King, LinkedIn, Bloomberg) dive into best practices and practical tips for crafting a go-to-market plan.
Hsu introduces web2 and web3 go-to-market models, with an overview on where they differ, what tools web3 founders have that others do not, and what we can learn from what works in web2. She also covers what needs to happen before starting a go-to-market journey (like having an up-to-date website, an elevator pitch, and more). With fundamentals in place, Carvolth then takes viewers on a deep dive into messaging, including how to write a successful mission statement.
Highlights:
3:22: 5 common go-to-market models
9:51: The go-to-market checklist — 10 things to do before starting a go-to-market motion
14:30: The importance of storytelling and crafting a clear mission statement
2. A guide to finding your footing as a founder from the co-founders of Optimism
The takeaway: New founders, especially engineers-turned-founders, can feel like they’re drifting into uncharted waters — masters of their own products and their own hardwon areas of expertise must learn new terminology, new frameworks for leadership, and new skills to be successful. All of this is possible with some critical and careful prioritization.
Overview: In this conversation, co-founders of Optimism Jing Wang and Karl Floersch dive into the origin story of the layer 2 — how two people who are passionate about Ethereum and open source built a product and a community that people want to be part of.
They also break down challenges typical for early-stage founders, including doing things that don’t scale, figuring out a minimum-viable product, investing in the co-founder relationship, and trusting your instincts as a founder.
Highlights
5:04: Setting foundations up for success
10:59: Breaking down entrepreneurial platitudes — what is a minimum-viable product?
26:40: Build it and they will vibe — going beyond “vibes” to create a rich and dynamic community of users and builders
3. Insights into how researchers are navigating cryptography’s changing landscape
The takeaway: Cryptography can feel like “moon math” — what starts as an abstruse line of research eventually develops into practical technologies over a period of decades. But as the crypto industry evolves, the need for more advanced cryptographic tools can speed up progress. For example, SNARKs have been around for decades, but have only recently evolved into production-ready technologies with a wide swath of use cases.
Blockchains are quickly reshaping the landscape of cryptography in ways that have applications in a number of other fields, from healthcare and defense to finance and ecommerce.
Overview: In this panel, a16z crypto Head of Research Tim Roughgarden moderates a conversation between partners on our research team — Valeria Nikolaenko, Joe Bonneau, and Justin Thaler — that dives into areas of accelerated (and decelerated) progress in cryptography, particularly those driven by researchers and engineers building web3 technologies.
You’ll also hear predictions from the team on where this is all going, including explainers on trending topics like multi-party computation (MPC), fully homomorphic encryption (FHE), and verifiable delay functions (VDFs); and their practical applications
Highlights:
15:25: Predictions — what research papers might be production-ready in the next 5-10 years
18:35: The state of SNARKS — where we are, how far we’ve come, and what’s holding us back
21:04: The future (or not) of post-quantum computing
Watch Justin’s intro to zero-knowledge >>
4. Frameworks for thinking about game economies — both onchain and off
The takeaway: EVE Online, created by CCP Games, is an award-winning game with a total player count in the millions. Its real success, at least in part, lies in its carefully balanced, yet dynamic game economy — which is not simply a matter of math and optimization.
Making a game that is fun for millions of people to play is a multidisciplinary endeavor that builds on the passion of “nerds” who were once making something niche.
Overview: Acclaimed science-fiction game EVE Online has thrived under Hilmar Pétursson’s decades-long leadership at CCP. But how did they get to an unprecedented ten consecutive years of subscriber growth? And how did Pétursson get into crypto?
Hilmar shares this and more, including an inside look on designing game economies and understanding the science behind human connections. From Enlightenment philosophy to the Theory of Relativity to Joseph Campbell’s “hero’s journey” to Metallica, this conversation takes a sweeping yet pragmatic look at how crypto can elaborate on game economies, bridging the gap between our physical and virtual worlds.
Highlights
10:54: The basic components of a virtual economy, and the role of crypto in rebuilding an MMORPG
24:07: How to bridge the gaps between games and IRL by building on behaviors that already exist in game economies
29:57: Advice for young entrepreneurs — starting as a niche doesn’t mean a project won’t get big
5. Strategies for finding product-market fit — plus, a few ways to know for sure that you’ve found it
The takeaway: With all of the tools, processes, and best practices for finding product-market fit at our disposal — from conversion funnels to multivariate testing — traditional approaches can feel somewhat academic relative to the pure magic and joy of finally matching a good product to a great market.
Although web3 projects face a set of unique challenges (proven playbooks are still being written, underlying infrastructure is still evolving, and more) classic wisdom on product-market fit very much applies to crypto: Find it, or perish.
Overview: Head of CSX Jason Rosental draws on decades of experience as a founder to distill his approach to finding product-market fit into five principles. This talk covers approaches for finding product-market fit for teams at the very beginning of their journeys, from new approaches to customer research to building incentive systems that reinforce product-market fit.
Although there are many factors at play — not every product or market leads to a billion-dollar outcome — every founder can take pride in knowing that they left no avenue unexplored in pursuit of product-market fit. Leaving it all on the field will always pay out, either in experience for the next endeavor, or in something truly special.
Highlights:
8:50: The five pillars of product-market fit, from partnerships to using tokens to reward good actors
19:08: What happens when web2 tactics don’t work for web3 startups
27:13: How to know when you’ve found product-market fit
Read Jason’s post on product-market fit >>
6. Tips on iterating toward a differentiated product — from idea to go-to-market — from a three-time founder
The takeaway: It’s important to break big bold dreams into pragmatic day-to-day goals. One of the biggest advantages founders have in web3 is direct access to customers. Making the most of this requires a very simple framework shift. Teams can get market feedback faster than any other industry and iterate to ensure they’re building useful, delightful web3 products.
Overview: Mo Shaikh is a three-time founder, passionate about scaling products from 0 to 1. Once focused on Facebook’s Novi wallet, Mo is now the co-founder and CEO of Aptos, a layer 1 proof-of-stake blockchain. As a first-generation immigrant, creating an accessible financial system for all is personal to Mo. He shares his founder story, from growing up in Brooklyn to co-founding Aptos.
This conversation dives into Mo’s latest chapter, with a focus on how he made the not-so-easy decision to start a new layer 1 from scratch in 2022. And then shifts gears to avoiding “partner risk” and joining forces with the right web2 companies; along with the promise of using blockchains to track provenance in a world of AI-generated content.
Highlights:
17:27: Deciding whether or not to build another L1
20:56: Partnering with web2 companies, while aiming to build a disruptive product
22:16: AI and the challenge of provenance
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The next cohort of CSX starts September 10 — but there’s more to come. Subscribe for updates on future cohorts, important dates, and CSX events. Or visit a16zcrypto.com/accelerator to learn more.
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