In the Recode Media Podcast, Zomorodi talks about blockchain, which is a growing list of records that are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. By design, a blockchain is resistant to modification of the data. She argues that blockchain can save journalism. The issue right now is that the people who own journals are able to influence readers. Using this new technology can create a list of people who’ve been vetted, who’ve been verified, who are adhering to a code of ethics. They want to focus on small size, specifics, and quality.
In her article, “More Start-Ups Have an Unfamiliar Message for Venture Capitalists: Get Lost,” Erin Griffith from The New York Times, talks about the original venture capitalist model and how start-ups raise money and then use the cash to grow aggressively, with the end goal being to sell or go public therefore producing returns for early investors. However, the issue with this is that there are start-ups that grow too fast, burned through investors’ money, then die.
In the article, “Zebra movement manifestos: Sex & Startups,” the author explains how startups, like the male anatomy, are designed for liquidity events. This means that 90% of startups fail because what can be measured almost always takes precedence over what cannot: a private profit over public good; speed and efficiency over enjoyment and quality. However, they advocate for members being invested in both commercial and civic growth and sustainability. They want to partner with visionary thinkers in the banking, foundation, government, and nonprofit sectors to create funding alternatives. This metaphor can be taken one step further and compare it to unicorns.
A unicorn is a privately held startup company valued at over $1 billion. The term was coined in 2013 by venture capitalist Aileen Lee, choosing the mythical animal to represent the statistical rarity of such successful ventures. In the article, “Zebras Fix What Unicorns Break”, it explains how Zebra companies are both black and white: they are profitable and improve society. They won’t sacrifice one for the other.
I think the most important point that relates to all the sources is that start-ups and how money flows and what things should change, especially in terms of mindset and technology. The reason why this is so important is that start-ups and technology are in the here and now; We need to consider changes to truly make a systematic change. To grow in the market, start-ups, technology, and the spread of information is the key.
