FOMO

“It's something we constantly have to check ourselves against. I think it's a natural human inclination. I think it's a really dangerous one, and it's something which we are aware of and trying to correct for all the time.”

“FOMO is a part of life as an investor, and I think more so a part of life in early stage than in later stage.”

“People love to take signal, follow others into deals because others did deals. It is very hard to resist. And I would say young analyst associates partners in Silicon Valley are filled with FOMO and follow too many others rather than doing their own work.”

“We have 50, 60,000 daily active users.”

“I think that initial round was really core to the success of FOMO.”

“So I'm not trying to get LeBron James to trade on FOMO. I want these native creators.”

“This guy, Iceman, who turned, he turned 10 K to two and a half million dollars overnight in one night on FOMO.”

“Yeah, so we have an internal AI policy to make sure that we're only using enterprise account, that there's not sensitive things being uploaded, etc. I think that's really important. And then within those guidelines, most of our engineers are using cloud code a…”

“We built this product in three weeks, and this product is basically what entire other apps, their entire product is. You know, we built our web app in one month.”

“So we actually have this all in-house. We have these creator managers, they're fully in-house, and we manage a group of 30 to 40 creators.”

“The price is five hundred fifty million. Post money.”

“We're at 17 total.”

“There's another guy, Remus, he turned, I think it was 300 dollars into one and a half million in a month.”

“Our plan is to kind of verticalize all of our infrastructure and own as much of it as we can in house.”

“Our team is scaling. I mean, we're making money. We have much more money in the bank than we ever raised.”

“I remember Peter Fenton was actually on his phone most of it. And I was like, kind of bummed out because I was like, damn, he's not interested. He's focusing on other things. He's doing emails. And I remember as soon as we finished the pitch, the first thing h…”

“We gave non-founders a percentage of the company that usually founders get.”

“But we're soon gonna launch globally access to equities and perpetuals non-US obviously.”

“We haven't integrated prediction markets yet, and I'm not sure exactly where it fits in on our roadmap. I think it's very interesting there. I think our first version of the product would be built on something like a poly market in Calci.”

“I think it was close, but not exactly the highest.”

“And this is actually one of the biggest, largest competitive advantages for our company is in the on-chain and crypto industry specifically, the users are very passionate about using the products.”

“I think at FOMO, there's no, we don't put numbers to it. There's no nine, nine, six.”

“So for the series B, that was all inbound, but the series A, we actually did run a process because we were like, we should raise money here.”

“And when we put out our web app, for example, we did it a week prior and we gave early access. The web app probably became twice as good just in that week. Because we were able to get early feedback from people who are actually passionate. And these people are…”

“But you need to be very intentional about the social graph. And I think that's something that is very momentum based. And as soon as you start losing momentum there, people stop using the app and then the whole thing could kind of unravel.”

“Ribbit Capital. We spoke with them, yeah. I really like Mickey and the team. They're great.”

“So currently FOMO is extremely horizontal. We don't have meetings, one-on-ones. We don't really have any hierarchy. Everyone is kind of self-reporting.”

“But, yeah, so hopefully they get cheaper with time, energy gets cheaper, compute gets cheaper, and then these things get cheaper, but at the current state, absolutely. I think 20% is definitely within reason.”

“We think it can be a lot bigger than it is now. And so, for this one, we're not gonna be ownership focused. We're just gonna, we're gonna put a check in.”