Paragraph Deal Call Notes — 04/05/2022

colin armstrong-engineering manager at google for 5 years, managed team with 4 engineers
-over 1bn users using the google meeting products that he built
-helped launched coinbased in canada
-problems about substack:
1. substack/stripe takes transactions fees and interms of monetization is limited
2. ownership-hosting content on decentralized on chain, etc
3. transparency- members is unhappy with how substack funds writers
-competitor- mirror:
- more for tooling and infrastructure
- not for publishers to create communities
- mirror is also web3 native
- crypto onboarding is still not the easiest
-web 2.5 approach is where paragraph wanted to go
- talked to users who thought this would be a good approach
-for the last 9month, ranked 1st on product hunt, 25% mom, 2k writers on the platform. 10k subscribers
-growth - with nft creators and daos:
bankless dao: started with nfts (long form content). token gate and provide access to their users. bankless is using looking to use web3.
-these daos have communities that port over
-vision: traditional media. have this traditional media shift
-monetization- nearterm taking % of subscription % , potentially opening up the platform for free and have a token
-lemniscap is the lead- help with tokenomics and defi
-onchain newsletter- xmtp. lens protocol and social graph.
-multitenancy, having more than one account.
-working with bankless
-raising 1.5mn preseed at 15mn post