We didn’t make it (this time)

The final price was €380k, our maximum bid was €260k

Mars Robertson
Jun 2 · 9 min read

We didn’t have enough committed funds to make the winning bid.

€260k was already a stretch.

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If you are sold the vision of a regenerative future, check out their project:

Debrief

There is always another island coming.

My current spotlight is on Scotland 🏴󠁧󠁢󠁳󠁣󠁴󠁿

The main reasons:

  • resilient to climate change
  • English speaking country
  • strong sense of national identity (can help survive the collapse of society)
  • much closer to home
  • COP26

100% responsibility

Please don’t interpret the reasons below as “excuse”.

These are factual circumstances that were present and were affecting my attention, energy, focus, and everything in between.

Hopefully, in the future, I will not repeat too many of the same mistakes too many times.

I didn’t burn my boats. In fact, I had a comfy backup option.

1. Personal circumstances

I made a decision to be present in their lives.

I made a decision to provide a stable home.

To comply with the lending criteria, I got a full-time job, slaved my time in useless employment, had sufficient evidence for my income, purchased a 🏡

(10% downpayment, 90% LTV, 25 years mortgage)

You can be happy while owning some assets too: https://www.weforum.org/agenda/2016/11/8-predictions-for-the-world-in-2030/

If I was a single digital nomad with no family commitments, I would totally YOLO into the island.

Because of my personal circumstances, I was taking a much more conservative approach — let’s grab a bargain but not take too much risk.

I DID NOT BURN THE BOATS.

2. Short notice

That’s why I was casually touching base with the court officer, to get enough notice.

I didn’t expect the island to be on the auction so soon.

3. Crypto crash

I have HODL mentality, I’m here for the technology, supercycle and hyperbitcoinisation.

It was the realization of changing market sentiment that was really painful.

What was meant to be smooth sailing, turned out to be not achievable.

https://alternative.me/crypto/fear-and-greed-index/

4. Too much energy invested into DeFi products

Compound interest works, especially when you see it accrue in real-time.

Meme source: internet

5. Indecisiveness with the blockchain choice

6. Indecisiveness with the legal structure

Apparently there was some technicality and registration didn’t succeed on the 1st attempt.

7. Too worried about nitty-gritty legalities

…combination of a loan agreement and a preliminary agreement for the sale of shares. Such an agreement can only be entered into in Estonia as a notarial. As the contract for the sale of shares must be notarial, the preliminary contract for the sale of shares must also be notarial. There are certain exceptions, but in your case (a private limited company with a share capital of only 2,500 euros and not registered in the Central Register of Securities) they do not apply).

BULLSHIT

JFDI

8. Lack of clear message when reaching out to potential investors

Due to the crypto crash, relying on donations should be dismissed.

I should have figured out much earlier.

Valuable feedback from: https://www.linkedin.com/in/raurora/

Each conversation, each pitch was getting closer to the goal but this time around we ran out of time.

9. “If you confuse you lose”

Then I was shilling: islanddao.org

CONFUSING

You can still totally “ape in” into Passport NFT: https://genesis.re

10. Spinning too many plates

I was also liasing the transfer of two WWW domains.

Totally not a priority.

I should have removed everything that is not IslandDAO.org from my sphere of consciousness.

11. Personal relationships

You can search for the word “counterproductive”:

You can also search for “very confused” when someone joined and couldn’t understand what are we talking about.

12. Lack of experience in building community

Suggesting 18:00 UTC

Monday. Next week on Tuesday. Next week on Wednesday. And so on…

This is to avoid potential conflicts, world moved online and people have lifes.

13. Lack of experience in leading teams

14. Lack of experience in closing sales

Having €50k from someone in the bank account is different than soft-commit

15. Lack of transparency when dealing with the existing funds

That was accurate soon after the return from Estonia, before paying the filmmaker and some other expenses

While almost all of my personal capital was “farming”, the ETH that belonged to the multisig was the only “liquid ETH” and I did use it to play some money-making games.

It will be difficult to establish what is the exact amount, for now it will remain in the Schrödinger state — it all depends on the tax treatment anyway, are gas fees deductible?

16. Personal brand

Would you trust this dude?

17. Paralysing stress

It was a really possibe “war room” council

Too bad that on Monday I was stressing out rather than get myself into the flow of work.

Noone will commit money at such a short notice

Rather than worrying I should be hustling anyway and use time pressure as an excuse rather than a red flag.

(of course it is a red flag but you can turn it around anyway)

No excuses

In order to achieve something of epic proportions, a lot of things need to align well.

In this particular instance, a lot of things were out of order.

100% responsibility and the reason number 1 is number 1 for a reason:

My 🏡 as seen on the real-estate website. I love my garden and I didn’t burn my boats to capture the island.

There was some hope

…ask and you’ll be given…

$10k FREE MONEY and THREE PEOPLE reaching out of the blue…

https://gitcoin.co/quadraticlands/
From retrospect: I should have reached out to everyone who has received FREE MONEY and ask for help
Amazing people connecting. Their LinkedIn profile blurb is public record, not sharing anything confidential.
Inspiring stays for remote workers & digital nomads: https://www.floasis.io/

Taking risks VS playing it safe?

I didn’t have the courage to gamble on closing the sale in the coming 30 days.

Moving forward

I still continue to support them. That truck was 1.7 ETH

I tried 2020–2021 with this particular island.

The work on Island DAO will continue, at a steady and sustainable pace, with the intention that others will step up and co-lead the project.

I’m planning (soon soon soon) to publish another blogpost describing my personal future steps, one way or another my actions will be aligned with the stated purpose:

Regenerative Civilisation.

Climate Change Adaptation.

“No one ever went broke taking profits”

“No one ever went broke by not buying an island 1000 miles away”

Preservation of energy

They are good people. They are doing great work.

I will personally “ape in” into NFT to become a member of the community…

Contact

11th June 2021 UPDATE

To what extent talking about stuff adds value? It helps me process… The downside of such an approach is thinking about reaction of others and preserving privacy.

I’ll probably just keep my (unpublished) notes and focus on adding value, rather than dissecting which of the 17 reasons affected, compounded, reinforced one another.

100% responsibility and the reason number 1 is number 1 for a reason

Friend 1 and the 🏡

Friend 2 and the 🏡

I made a decision to be present in the life of my children.

I just moved in.

It was my mindset that prevented me from accomplishing the goal.

It makes it even more painful.

Apparently, there is some appeal going on…

Thank you for keeping us informed.

I’ve learned about the auction pretty late and I did not have enough time to prepare and raise funds from friends and family.

With enough notice, I’m pretty sure I will be able to make a winning bid.

Either of these options is good:
1. repeating the auction (challenge of Datahouse OÜ is accepted)
2. accepting my offer, the number that I have in mind is €500k
3. working collaboratively on the project with the current owner / current winner of the auction

I have a big ambition for the island that includes working with the government program: https://accelerateestonia.ee/

“We bring together visionary entrepreneurs and public sector evangelists to launch success stories solving humanity’s most pressing challenges”

I know that €500k is more than the current winning bid but I’m fully confident that with enough time and political support coming from Accelerate Estonia I will be able to raise the required funds.

I hope that we will remain in communication and we will find an agreeable way moving forward.

Here is the political support I’m referring to:

Recovering energy

Do you believe in astrology? https://www.express.co.uk/life-style/life/1447700/solar-eclipse-spiritual-meaning-what-is-meaning-ring-of-fire-eclispe-astrology-evg

According to Susan Miller of the website AstrologyZone.com, eclipses are a way for the Universe to get grab your attention.

Eclipses can highlight those areas of your life that may need improvement or change.

Ms Miller wrote on the website: “They uproot us, surprise us, and get us moving.

“They shake us out of our feelings of compliancy so that we can move from one level of maturity to another, to a higher plane, and they work very rapidly.

“Eclipses want us to change and change we do!”

In astrological terms, the Sun represents everything to do with the outer sphere — how you act in public and how you vocalise your feelings.

You never know… Let’s see what happens!

I was enjoying capturing the Solar Eclipse in my garden

Island DAO

From the Ether into 3D reality