Find Hidden Doors

Shaan Puri reflects on a missed crypto opportunity, emphasizing the importance of exploring multiple strategic options rather than limiting oneself to binary choices. His analysis reveals how he could have approached the situation differently by considering various "doors" or pathways.

Key Points:

• Initial Decision Making:

  • Door 1: Do nothing (path taken)
  • Door 2: Create a crypto exchange/money transfer business (considered but rejected)

• Better Strategic Approach Should Have Been:

  • Buy the underlying asset first before building a startup around it
  • When facing pushback from experienced people:
    • Take time to build a stronger case
    • Request time to develop conviction
    • Return with well-thought-out arguments

• Alternative "No Risk" Approaches (Missed Opportunities):

  • Media Company Route:

    • Follow example of Blockworks, Coindesk, CoinMarketCap
    • Create content without regulatory risks
    • Use media presence as foundation for future opportunities

  • Consultancy/Agency Model:

    • Help large companies understand crypto
    • Example of Consensus making $100M+
    • Lower risk entry point into the space

• Key Learning:

  • Don't limit thinking to obvious choices
  • Look for alternative business models within the same space
  • Consider risk-adjusted approaches to capitalize on trends