(Photo credit @theshubhamdhage)
These are the days that I wonder why I live in upstate NY, when it’s been in the negative deep freeze conditions for days. When my big Black Lab tells me it’s too cold to go outside (even in her cute little winter jacket), you know it’s hit ‘ridiculously cold’ levels. Instead, I’m distracting myself with more opportunities to speak with many of you!
#announcements
I’ve kicked off the Pivoting into Tech Workshop Series, happening on Fridays between 12-1pm ET. Sessions 1 & 2 are already over, but you are welcome to join me for Sessions 3-5!
Session 1 was ‘Understanding the Tech Industry’ - click here to check out the video replay.
Upcoming Sessions:
Tech Resume Revamp: Jan 28
Develop your 30-Second Tech Networking Pitch: Feb 4
Finding the Right Tech Contacts: Feb 11
You can register for any of these workshops here: lu.ma/lizarnold AND newsletter subscribers get $5 off so subscribe to my newsletter HERE to take advantage for future workshops!
You are welcome to share this public link with anyone who you think could benefit from these workshops!
#techsoundbite
After I shared multiple predictions in my last newsletter, I got a question asking me to help explain NFTs. But in order to explain them, I have to take a step back to define a few other terms. So this week, I’ll introduce a brief primer on blockchain & crypto, so that in the next newsletter, I can get to NFTs & DAOs.
The easiest way I’ve found to start navigating through all of this is to remember this: blockchain is a technology used to facilitate the existence of cryptocurrencies, of which Bitcoin is just one kind. So let’s unpack this sentence a bit.
Blockchain: “A blockchain is a digital ledger of transactions maintained by a network of computers in a way that makes it difficult to hack or alter. The growing list of records, called blocks, is linked together using cryptography. Each transaction is independently verified by peer-to-peer computer networks, time-stamped, and added to a growing chain of data. Once recorded, the data cannot be altered.” (Nerdwallet) If it helps, I sometimes visualize these as strings of Legos blocks to show the distinct edges of each transaction. Note: there is not just one blockchain - there are tons of them, many of which operate independently of each other. If you’d like to deep dive further into understanding how blockchain technology works, here are 2 well-written guides: BlockGeeks What is Blockchain? and WTF is the Blockchain.
Now, since blockchain tech helps facilitate tracking transactions digitally, it means we can now develop currencies that exist only digitally too, aka cryptocurrencies. A cryptocurrency is an internet-based medium of exchange (or form of payment) that bypasses a central banking authority (like a government or a bank) & instead uses cryptographical functions to conduct financial transactions. A big mouthful. Basically, when you buy something with a paper USD dollar, the US government is backing that transaction to say your piece of green paper is worth what it says it is. A cryptocurrency does all of that with a digital system (and thus far, many have also tended to be highly volatile without that central backing). Two crypto guides you can check out include: BlockGeeks Crypto 101 and Ben Yu’s Crypto 101 (which also discusses Bitcoin).
Bitcoin is a term tossed about all the time as being synonymous with blockchain & crypto - but it’s not. Bitcoin is the most popular of all the thousands of cryptocurrencies out there (tho DogeCoin continues to try to win). It is a highly volatile, fully decentralized currency that exists only on the internet, which means there are 3 main ways to acquire it: generating your own bitcoins via mining, purchasing existing bitcoin, or earning bitcoins in exchange for services. Mining requires technical know-how & hardware, so at this point, it’s unlikely that most will go this route. That leaves purchasing it or earning it. Huge buyer beware - crypto is not for the faint of heart given its volatility (aka the huge change in the rate of exchange at any given moment in the day). Bitcoin ranged in value from $21000 to $69000 in 2021. Two Bitcoin guides include: Coinbase’s What is Bitcoin and CoinTelegraph Bitcoin 101.
If you really want to nerd out further, A16Z has compiled a huge list of articles, podcasts & other resources to understand all of the terms above.
Side note: blockchain technology is most often referred to in the context of financial transactions, but there are many other applications for using this technology (such as in supply chain or adtech).
#random
Maybe it's because it's so darn cold outside, but I cannot stop looking at the disaster recipes that exist on The Vulgar Chef. A few disgusting key examples: Gushers Grilled Cheese, Mayoritos Pie (yes, that’s Mayonnaise + Doritos), Spam Cake Pops
