Meat and potatoes
The idiom "meat and potatoes" in business refers to basic and essential or what is of fundamental importance. It's important when we are involved in a secular change when money will no longer be free, and business models need to be robust, not ethereal. As Warren Buffet famously put it: “Only when the tide goes out do you discover who's been swimming naked.” The markets, the growth or frothy end thereof, those long on promise and promises while short on delivery let alone profit are enduring a come to Jesus moment. VCs and the phalanx of other financiers (which is pretty much the entire gamut of the finance industry - another sign things got overcooked), are all over their dependents to slash costs, retrench, and get back to basics (assuming there was anything beyond the promise of rainbows and unicorns). Arguably, the frothiest end of the market is in the land of crypto, which entered its bear market before its real-world peer markets joined it. The FT Alphaville team (FTAV), long a hater of excess (and unsurprisingly crypto), wrote a good piece explaining overpromising and underperforming being the benchmark of so many failing tech-related stories/companies: Gimmicky Gorillas https://www.ft.com/content/f2fec2c2-e55f-4609-8fc8-b2dae334182e It's worth reading the article because it will give you an idea of what will and won't work in the new world of investment, one premised on value, not growth, on anti-fragile business models. That is not to say the madness of yesterday has gone away completely, unjustifiable decisions are still being made (they are just a heck of a lot rarer). As this Zero Hedge article points out: Fool Me Twice: Former WeWork CEO Adam Neumann Raises $70 Million For New "Crypto Carbon Credit" Startup (https://www.zerohedge.com/markets/former-wework-ceo-adam-neumann-raises-70-million-new-crypto-carbon-credit-startup) This tweet is the nicest response:
So let's get back to basics, and for that, we turn to the wonderfully concise Roger Ver:
If crypto wants to be something, to have the traction it needs to not just survive (it will do that anyway as discussed ad nauseam) but to thrive, then Roger is right. We've made the argument that BTC CAN NOT be a currency; it's a beautiful and arguably the first NFT, and that's its value but it can never be a currency - https://www.fix00.com/post/nfts-be-as-currency) Let's take this a step further:
We agree the space needs to be cleansed and we think our project has the potential to be the prototype that Scot Minerd alludes to. We highlight the following blog commentaries on why we represent a basis for such a prototype, the fact we are a verifiable asset-backed offering, we have the necessary depth & while we have a significant growth component we have a very simple, robust business model: https://www.fix00.com/post/is-a-ruby-a-store-of-value https://www.fix00.com/post/speculative-asset-vs-store-of-value https://www.fix00.com/post/risk-reward https://www.fix00.com/post/burden-of-proof https://www.fix00.com/post/ubiquity-and-utility https://www.fix00.com/post/the-tide-is-out-and-we-are-fully-clothed Finally and as ever we return to our mantra (in trying times it's all that matters): The FIX00 project has old dogs at the helm, and we have lived through investment regime changes before and thrived. Experience is hard-earned but invaluable. The FIX00 biz model IS consumer-facing. FIX00 token has a ruby valued at $290m gifted to it in perpetuity, who else in the crypto-verse made such a commitment or has that much skin in the game!
FIX00 F-NFTs will offer ownership of such assets, at a very affordable price and heavily discounted - who else offers the fixed asset value, the ubiquity, and thus the potential utility in the crypto-verse? The answer is no one because this Emperor (HAS clothes The FIX00 project IS cash and asset rich, it can weather the storm. The FIX00 project is a FCF business model.
The FIX00 products are digital/real-world stores of value - they are literal and figurative shelters from the storm. FIXOO products are portable and, as history has proved time and again, that has added merit in crisis. We're here for the long term, we herald true disruption to an extremely lucrative closed and antiquated business model, that is the upside. There is serious downside coverage given the products we are offering, they are not volatile but are REAL (and proven) stores of value. FIX00 is answering the call - protection, innovation, and deliverability