$ENIOLA 04: Building in a Bear Market

Hey peeps, this is the first update post Launch House + NFT.NYC. Last month there was a focus on launching, launching and launching. For the most part, a unique blend of resources, connections and timelines were in-line to act as a launchpad for various projects (entrepreneurial and personal). It’s been well documented that current market conditions have put a spanner in the works for many start-ups, scale-ups and other builders. Some of my friends have lost the majority of their net worth, whilst others have now entered the job market. In these unprecedented times, the sentiment of many people on crypto Twitter is just to hunker down and build. But reality for the majority doesn’t allow for such basic and unthoughtful advice. All I can say is do what you can to get through the bear market. Get that job AND build, support your family AND build, take care of your body and mind AND build. To be comfortable building a startup in any market condition is some form of privilege in itself; something that builders and investors forget sometimes. Build if it makes sense. Do not be roped in by the simple platitudes you see online.

I think that’s my most extended introduction to any of my updates thus far → lets' dive in!

Month In Retrospect

  • I wrapped up a month in New York as part of Launch House, Founders House Summer 2022 Cohort (yes, it’s a long title). I had an amazing time there, built connections, had fun and learnt a lot. You can read articles and view tweets about my experiences.
  • I attended NFT.NYC for the first time as well, it was a good conference with amazing speakers from the biggest VCs and founders of some of the biggest web3 startups. However, I found that there was more value in the satellite events and after-parties, for me personally. I think I may end up applying to speak at the conference next year.
  • A demo for early.fans can be viewed on our notion wiki. There you can get to grips with the looks and feel of the first iteration of our MVP.
  • We started having meetings with VCs, from both the United Kingdom and States. As mentioned before this is a numbers game. Each VC has different theses and methods. I have received varying advice from the firms; some of which conflicting but it’s important to build with users, make sure there’s a market and get some early traction. Someone will eventually take the first leap.
  • There were no proposals for $ENIOLA holders to vote on this month. Monthly proposals will make a come-back.

Biggest Takeaways

  • Right now I am unwavering. Even with these market conditions and personal circumstances, my first thought is what can I do to continue building. Do I get a job? Do I split the raise? Who do I partner with or reach out to? Should I relocate? My game plan may have changed but the goal hasn’t.
  • I want to feel small again. When I was in New York, I was constantly being reminded of how unremarkable and small I was. Now I know the language is dramatic and don’t worry I am not going through a quarter-life or identity crisis, it is just impossible for me to be comfortable with my achievements or goals. Some of my peers are doing amazing things. I know that comparison is the death of joy, but I what I took from this was the difference in my personal mentality and drive when around a certain type of individual.

What’s Next

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To view the redacted content please buy some $ENIOLA you can reach out to me or buy it on Uniswap.


Final Thoughts

To the builders (in whatever capacity) reading this,c sondier your environment. When this type of discourse happens people typically focus on their friends and WHO they are surrounded by. However, what is equally important is WHAT are you surrounded by. What resources do you have access to? What infrastructure has been set up in your location? What ecosystems are you plugged into? The whats are as equally important as the whys.

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