Exploring the concept of mirrortables, where a company's cap table is mirrored on-chain with Ethereum and ENS or other Web3 tools, to streamline angel investing
Here is what angel investing should be: … If you understand all the concepts in this statement, consider working on this problem or joining a team in the space! Tweets: @balajis , @brian_armstrong , @pankaj , @sajithpai , @kskgroup2017 , @arpitrage , @sriramk , @balajis , @ericbahn , @apompliano , @akothari , @vjgtweets , @scottbelsky , @punk6529 , @carnage4life , @chrisalbon , @kevinweil , and @balajis Tweets: Balaji Srinivasan / @balajis : I wrote up a detailed piece on how we can combine web2 and web3 tools to automate the mess of angel investing. The key concept is a mirrortable, which is to a cap table what a stablecoin is to a fiat currency. https://balajis.com/... Brian Armstrong / @brian_armstrong : If you're interested in building this, come send us a note: https://www.coinbase.com/careers 🙏 https://twitter.com/... @pankaj : Skeptics might say this can be done without a blockchain by standardizing a DB schema across Carta, AL,etc That's workable & indeed how would be done in web2... But only a blockchain provides open, permissionless programmability besides being far less bespoke than a closed db. https://twitter.com/... Sajithpai.Eth / @sajithpai : The mirrortable is a very clever idea by @balajis Wonder if on chain representation of ‘local’ artifacts where consensus matters, but constrained by regulation, is a generalizable idea. Think Mirrorgraph / mirrorfolio for digital certs / skills fm CBCs / Coursersa / edx. https://twitter.com/... Keisuke Honda / @kskgroup2017 : I agreed with this idea. The mirrortable might works. https://twitter.com/... Arpit Gupta / @arpitrage : Seems pretty interesting here. Ownership ledgers for venture companies enabling easier Angel investments. https://twitter.com/... Sriram Krishnan / @sriramk : Fantastic piece from @balajis https://twitter.com/... Balaji Srinivasan / @balajis : Updated FAQ 1) Added details and code snippet on how to do on-chain KYC with ENS. 2) Unlike most security tokens, mirrortables require no changes to law. They're just an on-chain mirror of an already compliant off-chain process. https://balajis.com/... Ericbahn.Eth / @ericbahn : Kinda brilliant. https://twitter.com/... Pomp / @apompliano : Experimentation is important in high innovation industries. This idea from @balajis has less to do with decentralization & more to do with user experience improvement. Ultimately, few products need to be fully decentralized. The rest will be automated. https://balajis.com/... Akshay Kothari / @akothari : I hope this actually happens soon — the current process is so painful, esp for investing in international markets. https://twitter.com/... Vishal Ganesan / @vjgtweets : Intriguing proposal that addresses the major pain points from a legal perspective. Interested to see how this interface deals with stock transfers, contractual restrictions on disposition etc https://twitter.com/... Scott Belsky / @scottbelsky : A call-to-action for startups to rethink the stack of startup investing, which would ultimately enrich the ecosystem from many angles... https://twitter.com/... @punk6529 : This is an incredible and practical post by @balajis on how you can start mirroring offchain cap tables online Really well done https://balajis.com/... Dare Obasanjo / @carnage4life : I've angel invested in 4 companies this year and this idea from @balajis is a pure winner. It's now pretty clear to me that steps 11 & 12 where you need to deal with staying on top of subsequent funding rounds including having to message companies for info is the real killer. https://twitter.com/... @chrisalbon : Balaji puts forward a strong use for crypto for tech investing. Between the lines is the real future appeal of crypto to me: a means to exchange money for goods/services online that is SUPER easy for vendors to setup ($0 and ~10 lines of code) and super easy for buyers to use. https://twitter.com/... Kevin Weil / @kevinweil : I think @balajis nails this one. Would love to see @cartainc give this a shot! https://twitter.com/... Balaji Srinivasan / @balajis : Why do we want to streamline angel investing? So we can invest in more founders, in more countries. So we can decentralize the process of wealth creation, backing people in the Midwest and the Middle East. Here's the feature set we'll want to do that. https://balajis.com/...