Risk-takers: Hackers, Investors & $140k Hackathon.
There are less than 2 days before our $140k Noobstars Blockchain Hackathon starts.
Here is what I was convinced once again of, during this time.
IT IS HARD TO FIND RIGHT PEOPLE WITH RIGHT MOTIVATION AND RIGHT SKILLS, EVEN IF YOU PLACE $140K IN FRONT OF THE CROWD.
That’s why we need to build the Noobstars.
We are featured on the home page of hackathon.io with (I believe) an outstanding announcement and there are just 7 people want to participate in the event.
I understand, that there is a high risk involved in the event from the people’s view and some smart guys (read hackers) may do not believe that the Hackathon can fund via ICO. Which I believe can. Because the whole idea of crowd funding a startup through ICO and see the whole process of the birth of a team, product, and the company, from the potential investor’s point of view — should be natural. The investor should not just see some random team that will execute the idea but should see the real battle, where highly motivated individuals forming teams and in real time fighting for the opportunity to build great products for investors money.
In nature, they call it Natural Selection.
But let’s start from the beginning and dive a little bit deeper into the problem.
RISK TAKERS.
Where do they come from?
I like the idea about 2 types of people’s mindsets: Fixed and Growth mindset.
To get a better (deep) understanding I recommend reading a Growth Mindset book, written by Carol S. Dweck, Lewis and Virginia Eaton Professor of Psychology at Stanford University. This book not just showing the difference between these two mindsets but shows How to recognize and switch into the Growth mindset.
IN SHORT
In a Fixed mindset
people believe their basic qualities, like their intelligence or talent, are simply fixed traits. They spend their time documenting their intelligence or talent instead of developing them. They also believe that talent alone creates success — without effort.
In a Growth mindset
people believe that their most basic abilities can be developed through dedication and hard work — brains and talent are just the starting point. This view creates a love of learning and a resilience that is essential for great accomplishment. Virtually all great people have had these qualities.
I personally believe that Risk-takers are a nature of people with a Growth mindsets.
EASY TO JUDGE. HARD TO DO.
Yes. You probably saw/heard/knew a lot of stuff about risk taking from successful people. I will post just one of them.
Often phrases about the risk — very blurred. That’s why I would like to talk a little bit specific.
On the example of our Hackathon
Hackers-Risk-Takers
Here are just a few risks.
#1 Your job can be not good enough to be accepted.
#2 There can be way better-skilled teams or individuals.
#3 You can fail the deadlines.
#4 You did an awesome project, but few bugs killed it during a presentation.
#5 You take the first place, but initial ICO failed, meaning no funds.
You are investing your time, physical and mental energy. And can get nothing in the end.
Investors-Risk-Takers
Also, just a few risks described.
#1 General economic risk. 2008 economic crisis as an example.
#2 Sovereign risk. Regulations and government.
#3 Execution risk. You put your money in the project, but the team failed to deliver.
#4 Business risk. Product and idea can’t fit a market/users expectation, high competition market.
#5 Collapse of crypto currencies. Or bubble risk, Dot-com bubble as an example.
Founder-Risk-Taker
Basically, a founder (or CEO) accumulate all the risk from both groups. The founder is the main link between Investors and Hackers. As a captain of the ship — he takes all the responsibility for a failure or success. If the company’s product fails — clients will blame the founder, not team or investors. If the company failed — investors and team will blame the founder, not each other.
So, answering your question Ape Inago
Yes. I like cat pictures too
But I’m trying to limit my time for this. Because the lifetime is too short, and there is so much interesting to learn, upgrade skills/knowledge and achieve new things.
No. I’m not feeling bad
I’m feeling a huge responsibility for doing this. It’s a huge risk. For me, for the Hackathon, I started. For a future team, for investors money, for a product and the company. Of course, it’s a risk for hackers, investors, and the founder. Facebook also started from a college social network, and I think that Zuck didn’t imagine, that it will reach in 13 years 2 billion users, $500 billion market cap, and such big impact for the World community. We don’t know much stories about thousands or millions failed startups. But definitely, those, who take risks — have all chances to succeed.
Don’t listen to those
who spend their time and 12,000 words, describing why things will not work. Instead of focusing 12,000 words describing how to make things works.
CALL TO ACTION
If you are a Hacker
Join our Hackathon. It’s risky, you may fail, we may fail.
I’m looking for those, who are like me — crazy enough to work days or nights, weekends or holidays while finding solutions for big and complex problems.
We need a team of 4 to 5 of hackers. Even if you are a black hat — feel free to join. There is a lot of opportunities to make millions of $ completely legal.
If you are an Investor
Join our ICO campaign. It’s risky, you may fail, we may fail.
But you can be a part of the World’s first company, which started publicly through the Hackathon in front of your eyes, then moved into a digital decentralized autonomous organization.
CONCLUSION
As a lot of smart and successful people saying with different words almost the same — with every great risk, there’s great reward.
(SS)
